A Coin Exchange Story — Kraken

Hello! Is everyone doing well? Today we’re going to talk about Kraken, the American exchange platform.

It may be a little unfamiliar in Korea, but I hope you read it interestingly because it has a long history.

​The Beginning of the Kraken Exchange

from Traders Best

The Kraken Exchange is a fairly old company that was created on July 28, 2011, by CEO Jesse Powell about 10 years ago, and it is located in San Francisco, USA.

from BitcoinAfrica.io

It may be a little unfamiliar in Korea, but it’s a pretty big exchange.

We can’t dismiss the fact that Kraken is the first in the industry to get permission to set up a bank!

from Giphy

The Vision of Kraken

Kraken is said to accelerate the adoption of cryptocurrencies so that the world can gain economic freedom and inclusion.

from Tenor

Kraken’s Trading Volume and Ranking

As of the time I am writing this article, the 24h trading volume in CoinMarketCap is $594,973,243 and ranks fourth among the exchanges.

screenshot (5/21/2022 at 12:59 a.m.)

Kraken’s strengths and singularity

🌟The great thing about Kraken is that it is tradable in real dollars, not stablecoins.

A stablecoin functions as an altcoin with a value of one dollar, and there is a high probability that it does not guarantee a dollar.

However, if it is possible to trade in Kraken, there is also a trading window where you can exchange stablecoins for real dollars, so if you feel a little uneasy about stablecoins, you can exchange them for real dollars and keep them safely!

🌟 At Kraken, you can trade about 72 currencies, including Bitcoin, Ethereum, and Ripple.

🌟The fee is also known to be low.

🌟 At Kraken, margin trading is possible with a maximum leverage ratio of 5:1.

This means that you can borrow money and trade bitcoins and altcoins to increase your potential return by up to 5x!

from Giphy

Interestingly, Kraken is not an exchange that can be used all over the US despite being an American exchange.

It’s available in almost every state, but not in Washington and New York!

from Giphy

And it is said that Kraken neither trades nor owns Ripple Coin (XRP).

Also, it can be a little disappointing that only spot trading is possible.

And be careful!!

It seems that there are often Kraken scam exchanges.

from BeInCrypto

I think a lot of people are getting scammed because they are using the exchange name as it is and constantly changing only the domain address…

Bad guys!!!

They seem to be very subtle and sophisticated in their approach, so please be careful!

from Pinterest

​How was the Kraken story today?

If you have any more questions or want to get coin-related information, please feel free to come and talk to our community below. :)

Twitter: https://twitter.com/el_coinmonster

Then, see you in the next story!



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