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For your information, you can find below the description of the video Kraken Exchange: Complete Beginner's GUIDE!! ๐ published by the Youtube channel Coin Bureau:
๐ Get The Hottest Crypto Deals ๐ http://www.coinbureau.com/deals
๐ธ Trade Crypto on ByBit ๐ https://www.coinbureau.com/review/bybit/
๐ฒ Insider Info in our Socials ๐ https://www.coinbureau.com/socials/
๐ Our Merch Store ๐ https://store.coinbureau.com
๐ฅ TOP Crypto TIPS In our Newsletter ๐ https://www.coinbureau.com/newsletters/
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- TIMESTAMPS -
0:00โ Intro
1:44 Who is Kraken
4:21 Krakenโs Security
8:16 Supported Cryptos
9:17 KYC At Kraken
12:00 How To Deposit Fiat?
15:19 How To Deposit Crypto?
16:05 Trading Fees
18:29 How To Trade?
21:58 Other Features
23:36 Final Thoughts
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โ๏ธ ๐ Useful Links ๐ โ๏ธ
โบ Kraken Review: https://www.coinbureau.com/review/kraken
โบ Kraken funding: https://www.bloomberg.com/news/articles/2021-02-25/crypto-firm-kraken-said-to-seek-roughly-10-billion-valuation
โบ Kraken licenses: https://support.kraken.com/hc/en-us/articles/360031282351-Is-Kraken-licensed-or-regulated-
โบ Supported cryptos: https://support.kraken.com/hc/en-us/articles/360000678446-Cryptocurrencies-available-on-Kraken
โบ KYC: https://support.kraken.com/hc/en-us/articles/201352206-Verification-level-requirements
โบ Fees: https://www.kraken.com/en-us/features/fee-schedule
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โ Who is Kraken โ
Kraken opened its doors just two years after Bitcoin was unleashed upon the world in 2009 and is located in sunny San Francisco. They have also raised numerous rounds of funding and had talks earlier this year which valued the exchange at $10 billion.
CEO Jesse Powell has also revealed that the exchange could be listed on the stock market in just over a year's time too.
In terms of licenses, Kraken holds a plethora of those in highly regulated jurisdictions like the US, UK, Japan and Australia. So yep, all that makes Kraken the type of exchange you use when you value compliance.
๐ Krakenโs Security ๐
The exchange boasts that it has industry-leading security. But what is backing up that bold claim?
Well, 95% of user funds are kept in cold storage. All sensitive account information is also encrypted with a ton of controls placed on access. All that is to ensure that those donโt get into the wrong hands.
Krakenโs servers are also placed in secure cages which are also monitored by armed guards! There are a plethora of other security precautions taken at Kraken and thatโs led to Kraken being portrayed as enforcing their employees in a way similar to intelligence agents.
๐ค Supported Cryptos ๐ค
When it comes to asset support, Kraken has over 80 different cryptoโs available to trade. That includes pretty much every major crypto, alongside a host of more exotic plays.
In terms of supported countries, all nations on the usual naughty list are blocked, as well as the US states of Washington and New York.
๐ด๏ธ KYC At Kraken ๐ด๏ธ
Alright, so Kraken requires KYC for all customer accounts. Thatโs not surprising, seeing as it is a fully regulated exchange. However, there are four different KYC levels at Kraken which unlock different features. So, youโll want to watch my vid for more info on those.
๐ถ How To Deposit Fiat? ๐ถ
Some deposit methods are insanely expensive. However, Kraken does have a few free deposit methods tucked away. Watch my video for more details on those.
โฟ How To Deposit Crypto? โฟ
Honestly, depositing crypto on Kraken is quite straight-forward. I show you all the steps on how to do that in my vid.
๐ Trading Fees ๐
Alright, so using Krakenโs โBuy Cryptoโ feature is going to cost you an arm and a leg. Youโll pay up to 1.5% in fees over there. However, KrakenPro does offer more reasonable fee levels starting out at 0.16% in maker fees and 0.26% in taker fees. Yes, if you are a big crypto trader, then youโll be able to take advantage of lower fees.
But be aware that there are other exchanges that offer significantly lower trading fees than Kraken.
๐ How To Trade? ๐
I do a complete walkthrough on this in my vid. So, be sure to check that out!
๐คทโโ๏ธ Other Features ๐คทโโ๏ธ
Yes, Kraken offers margin and futures trading. However, I would recommend staying well away from all that. On the exchange, you can also stake your coins to earn crypto interest. Some of the interest rates on Kraken are pretty tasty
Also, Kraken offers you access to Parachain auctions. This gives you the opportunity to secure yourself some tokens when the project is still in its infancy. So, that could be of interest to you.
Also, Krakenโs educational hub is very useful too. Be sure to check that out.
๐ Disclaimer ๐
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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