Kraken

What Is Kraken?

Kraken is a prominent cryptocurrency exchange based in the United States, catering to users seeking to buy, sell, and trade a wide array of digital assets at competitive commission rates. It offers clients the opportunity to earn rewards through coin staking, further enhancing their engagement. The exchange stands out with its robust euro volume and liquidity, empowering users to engage in trading with over 100 crypto assets and 7 fiat currencies, including USD, CAD, EUR, GBP, JPY, CHF, and AUD. Kraken ensures accessibility through its web platform and mobile applications, enabling trading on the go.

Established in 2011, Kraken emerged as one of the pioneering cryptocurrency exchanges, notably offering spot trading, derivatives, and index products. Over the years, the company has expanded its offerings to encompass a diverse range of products and services. These include spot trading, margin trading, futures contracts, indices, staking opportunities, over-the-counter (OTC) services, and an upcoming non-fungible token (NFT) marketplace. Kraken proudly serves a substantial user base, comprising over 8 million traders and institutional clients. The exchange enjoys the support of influential backers, including Digital Currency Group, Blockchain Capital, Tribe Capital, Hummingbird Ventures, and more.

Who Are the Kraken Founders?

Kraken operates under the ownership of Payward Inc., a company founded by crypto trailblazer Jesse Powell, who also serves as its CEO.

Jesse Powell's journey in the realm of digital currencies commenced as far back as 2001. He holds a degree in Philosophy with a specialization in Ethics & Law from California State University. Prior to his involvement with Kraken, Powell played a role in creating the Verge Gallery and Studio Project and established Internet Ventures & Holdings.

When Did Kraken Launch?

Kraken had its origins in 2011 and officially launched its services in September 2013. Initially, it facilitated trades involving Bitcoin, Litecoin, and euro-denominated transactions.

Where Is Kraken Located?

Kraken's headquarters are situated in San Francisco, California.

Kraken Restricted Countries

Kraken extends its services to U.S. residents, excluding individuals residing in New York and Washington. However, it's important to note that Kraken Futures is not available to all U.S. residents. Currently, Kraken serves a diverse customer base spanning approximately 200 countries.

The company imposes various restrictions on residents of specific countries, including Afghanistan, Central African Republic, Congo-Brazzaville, Eritrea, Congo-Kinshasa, Guinea-Bissau, Cuba, Lebanon, Iran, Mali, Iraq, Namibia, Libya, Somalia, North Korea, South Sudan, Syria, Sudan, Tajikistan, and Yemen.

What Coins Are Supported on Kraken?

Kraken boasts support for a comprehensive selection of over 120 cryptocurrencies. Notable coins available on the platform encompass BTC, ETH, LTC, XRP, ETC, ZEC, USDT, and many more, ensuring a diverse array of options for traders.

How Much Are Kraken Fees?

The fee structure on Kraken varies across different products and services, which include Instant Buy, Kraken Pro, Stablecoins, Margin, Futures, and NFT. For the basic Instant Buy service, the company applies a fee of 0.9% for stablecoins and 1.5% for other crypto assets, in addition to fees associated with various payment methods. Kraken Pro utilizes a maker-taker fee model, with maker fees ranging from 0.00% to 0.16% and taker fees spanning from 0.10% to 0.26%, contingent on the frequency of a user's trading activities within each 30-day period.

Is It Possible To Use Leverage or Margin Trading on Kraken?

Kraken Pro offers advanced users the capability to engage in margin and futures trading. The platform supports leverage of up to 5X, with the maximum leverage level depending on the specific currency pair.