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Sunday, 16th June 2024

Kraken: Why Should You Choose This Crypto Exchange Platform For Trading Digital Assets?

By TNP Digital Desk -
  • Updated
  • :
  • 25th August 2021,
  • 8:56 PM

The San Francisco-based digital asset exchange helps in trading more than 60 digital assets or Cryptocurrencies.


When people think of investing in digital assets, cryptocurrencies, their first concern is the digital exchange platform or an internet-based platform designed to facilitate the trading of digital assets, currencies such as Bitcoin, Etherium, Dogecoin, Shiba Inu, other cryptocurrencies, and altcoins.

Investors are often in doubt when it comes to choosing the right platform or a better platform than any of the existing crypto exchange platforms. Coinbase, WazirX, Coinbase Pro are some of the other digital asset exchange platforms that have caught much attention from investors in recent years. However, Kraken, a cryptocurrency exchange and bank launched in 2011, recently donated a whopping $250,000 to the Ethereum Foundation to support the blockchain’s upgrade efforts in the crypto market and achieve critical milestones.

The San Francisco-based digital asset exchange helps in trading more than 60 digital assets or Cryptocurrencies such as BTC, ETH, DOT, ADA, DOGE, and seven fiat currencies, including EUR, USD, GBP, CAD, CHF, JPY, and AUD. Being active in trading for nearly 10 years, Kraken has built a reputation of its own among its clients and investors in the crypto space.

Read More: Global Crypto Asset-Management Market Will Exceed $9B by 2030: Report


What are the Benefits of Using A Kraken Exchange?

According to Summer, a spokesperson for Kraken, the company prioritizes and invests heavily in security. However, this should not let one put their guard down. According to the digital asset exchange platform, investors need to take advantage of the account security tools and the advice that the company offers never to share access to the account with anyone else.

Investors must check out the Crypto Security Guide and Security Basics to understand how to protect their crypto whether they decide to keep them on or off the exchange. “They are obsessive about security – it’s the one thing I love (and am annoyed with) as a happy user of the platform. They don’t mess around with that,” wrote a Kraken investor on Reddit. Another wrote, “Yo, shout out to Kraken, best customer service I had seen especially in crypto.”

When it comes to fees, many digital asset exchange platforms charge a hell of a lot of money as Trading fees. But trading fees of Kraken start from merely 0.26% and go as low as 0%. However, if a client is paying by a credit card/buying instantly, there are fees/spread applied with this.

According to reports, the total spot trading volume stood at $1.60 billion, while the 30-day average rose to $1.22 billion as of August 23, 2021. The top five traded coins through Kraken were Bitcoin, Tether, Ethereum, Cardano, and Ripple. Returns from Rarible, Enjin, and Tezos were also very high across the crypto market, according to the trading reports of the digital asset management company.

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