publish2018-02-13 11:26 am

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Kraken Exchange Review: Is Kraken Cryptocurrency Exchange Agency Reliable?

 As far as cryptocurrency agencies are concerned, you are bound to come across many of them. However, it is not all agencies that make the best. Kraken Cryptocurrency Exchange has for long been among the very few that make the most reliable agencies in the United States of America. Jesse Powell founded the platform back in 2011. His intention was to provide a place that would be highly conducive and friendly to cryptocurrency traders. That is exactly what he achieved. In just a period of 6 years, the agency has grown its wings wide and far and the trend is bound to continue. Powell took advantage of the bankruptcy issue with Mt. Gox, an earlier dominator of the currency trade platforms, to come up with something that would measure up with its predecessor. The idea went just as planned and Kraken Exchange platform was born.

kraken mainpage

Kraken currently operates in the United States of America, European Union, Japan, and Canada. However, it is worth noting the New York is not served by this service due to issues with Bit License.  There are intentions to establish the service in New York though. The company’s stipulations is to grow its wings wide and far by providing the most reliable cryptocurrency exchange services. So far, the company has managed to impress a majority of its clients, with even more individuals growing interest in their services. Just like any other cryptocurrency agency, Kraken Cryptocurrency Exchange also experienced its own share of challenges in the process of growth. For instance, the agency faced a major blow in 2017 following a remarkable rise in cryptocurrency demand. Apparently, it was between 2016 and 2017 that the value of Bitcoin and other crypto currency grew magically. This came along with a major demand in the same. As a result, clients visiting the siteexperienced a chain of errors hence limiting their liberty to trade. This however did not take long before the agency addressed the issue. They even went ahead to promise a major upgrade before the end of 2017. This was successfully done and the platform regained strength. You can therefore trade on the platform without any issue whatsoever.

Is Kraken Exchange Legit?

This is certainly the first question that should land on your mind any time you are dealing with a new cryptocurency agency. There is absolutely nothing wrong in being cautious. After all, it is your hard earned money that you are investing. Let us get this straight. Kraken Exchange is highly legit. Does that answer your question?  Well, it is about time you understood that Kraken Exchange has been there for over 6 years now. All along, this agency has managed to offer undisputed services to its clients. This is in addition to the hailing reviews that come from clients. To eliminate your uncertainties, it would be ideal if you dropped by the Kraken Exchange Platform and go through a handful of reviews from the previous clients. You can be assured that your investment with Kraken Exchange is highly safe. It is time to stop asking…is Kraken Exchange a scam? Is Kraken Exchange safe? Rest assured that you are in safe hands.

Deposit Made Easy!

One of the greatest traits about KrakenExchange is that they are very versatile in terms of the currencies they accept. It might interest you to know that Kraken Exchange accepts a number of currencies including; Euros, US Dollars, Canadian Dollars, British Pounds, and Japanese Yen among others. What does this tell you? It is a confirmation that the intention of the agency is to reach out to as many people as possible and to ensure that they make their trades count as long as they have the currencies aforementioned. How aboutDeposits? This is one of the easiest processes that you can ever engage in. It is worth noting that there was a recent upgrade on the Exchange Platform. Ease of deposits was among the things that were addressed during the upgrade. Depositscan be made via SWIFT, SEPA, as well as Wire Transfers. The agency assures its clients to have all deposits and withdrawals made in a span of between 1 and 5 days. Normally, the process does not go beyond 24 hours. Guess what? Kraken Exchange Deposit is usually free of charge. Only a few set up fees apply selectively. This comes as a major convenience among users. As long as you are within the location of SEPA countries, the process of making deposits is absolutely free of charge. This fully applies for Fiat deposits. It might interest you to know that if deposit charges apply, you will be required to pay between $5 and $10 within United States of America. On the other hand, you will be required to pay an approximate amount of between 5 and 10 euros if you are outside the United States of America. Bitcoin trade is made easy by far courtesy of the simplified Deposit process. All in all, the agency’s Deposit is easy, convenient, and friendly to the user.

kraken deposit limits

Kraken Exchange Review: Is Kraken Cryptocurrency Exchange Agency Reliable?

 As far as cryptocurrency agencies are concerned, you are bound to come across many of them. However, it is not all agencies that make the best. Kraken Cryptocurrency Exchange has for long been among the very few that make the most reliable agencies in the United States of America. Jesse Powell founded the platform back in 2011. His intention was to provide a place that would be highly conducive and friendly to cryptocurrency traders. That is exactly what he achieved. In just a period of 6 years, the agency has grown its wings wide and far and the trend is bound to continue. Powell took advantage of the bankruptcy issue with Mt. Gox, an earlier dominator of the currency trade platforms, to come up with something that would measure up with its predecessor. The idea went just as planned and Kraken Exchange platform was born. Kraken currently operates in the United States of America, European Union, Japan, and Canada. However, it is worth noting the New York is not served by this service due to issues with Bit License.  There are intentions to establish the service in New York though. The company’s stipulations is to grow its wings wide and far by providing the most reliable cryptocurrency exchange services. So far, the company has managed to impress a majority of its clients, with even more individuals growing interest in their services. Just like any other cryptocurrency agency, Kraken Cryptocurrency Exchange also experienced its own share of challenges in the process of growth. For instance, the agency faced a major blow in 2017 following a remarkable rise in cryptocurrency demand. Apparently, it was between 2016 and 2017 that the value of Bitcoin and other crypto currency grew magically. This came along with a major demand in the same. As a result, clients visiting the siteexperienced a chain of errors hence limiting their liberty to trade. This however did not take long before the agency addressed the issue. They even went ahead to promise a major upgrade before the end of 2017. This was successfully done and the platform regained strength. You can therefore trade on the platform without any issue whatsoever.

Is Kraken Exchange Legit?

This is certainly the first question that should land on your mind any time you are dealing with a new cryptocurency agency. There is absolutely nothing wrong in being cautious. After all, it is your hard earned money that you are investing. Let us get this straight. Kraken Exchange is highly legit. Does that answer your question? Well, it is about time you understood that Kraken Exchange has been there for over 6 years now. All along, this agency has managed to offer undisputed services to its clients. This is in addition to the hailing reviews that come from clients. To eliminate your uncertainties, it would be ideal if you dropped by the Kraken Exchange Platform and go through a handful of reviews from the previous clients. You can be assured that your investment with Kraken Exchange is highly safe. It is time to stop asking…is Kraken Exchange a scam? Is Kraken Exchange safe? Rest assured that you are in safe hands.

Deposit Made Easy!

One of the greatest traits about KrakenExchange is that they are very versatile in terms of the currencies they accept. It might interest you to know that Kraken Exchange accepts a number of currencies including; Euros, US Dollars, Canadian Dollars, British Pounds, and Japanese Yen among others. What does this tell you? It is a confirmation that the intention of the agency is to reach out to as many people as possible and to ensure that they make their trades count as long as they have the currencies aforementioned. How aboutDeposits? This is one of the easiest processes that you can ever engage in. It is worth noting that there was a recent upgrade on the Exchange Platform. Ease of deposits was among the things that were addressed during the upgrade. Depositscan be made via SWIFT, SEPA, as well as Wire Transfers. The agency assures its clients to have all deposits and withdrawals made in a span of between 1 and 5 days. Normally, the process does not go beyond 24 hours. Guess what? Kraken Exchange Deposit is usually free of charge. Only a few set up fees apply selectively. This comes as a major convenience among users. As long as you are within the location of SEPA countries, the process of making deposits is absolutely free of charge. This fully applies for Fiat deposits. It might interest you to know that if deposit charges apply, you will be required to pay between $5 and $10 within United States of America. On the other hand, you will be required to pay an approximate amount of between 5 and 10 euros if you are outside the United States of America. Bitcoin trade is made easy by far courtesy of the simplified Deposit process. All in all, the agency’s Deposit is easy, convenient, and friendly to the user.

Kraken Exchange Coin: The Coins Accepted By The Agency

In effort to make Krakenexchange a universal platform in terms of trading, the agency has already gone as far as accepting over 17 coins already. What does this mean? It means that you can trade up to 17 different coinswithout any inconvenience. One of the main motives behind this development is to serve the tastes and preferences of different clients. While some may be interested in trading Bitcoin, others may be interested in trading Ethereum. In other words, it is not every person who is interested in Bitcoin. Others prefer different coins. Here are among the Coinsaccepted:

·Bitcoin

·Bitcoin Cash

·Ethereum

·Iconomi

·Melon

·Litecoin

·Tether

·Augur

·Gnosis

·Ripple

·Zcash

·Monero

·Stellar Lumens

·Dogecoin

·EOS

·Ethereum Classic

With such a wide variety of Coins, It becomes easy for traders to concentrate on one platform, rather than shifting from one point to another. Besides that, the platform is able to serve the interests of most people in the crypto currency trade.

Types of Login Accounts

The process of creating an account with KrakenExchange is rather easy and straightforward. All you need is to access their site and sign up for free. Upon signing up and being granted an account, you will be required to do the necessary verification. This is to confirm to the agency that you are indeed the authentic owner of the account. Account type depends on levels and the payments made in each tier. The amount that you will be able to deposit or withdraw in Fiat crypto currency dictates the level of your account. However, as the account level rises, the amount of payment increases concurrently. If you are in the basic tier, you will also be able to make deposits. All you need is to provide the agency with the key details including your name, date of birth, phone number, as well as your country of residence. Upon the usual verification, you will be in a position to make the necessary deposits.

·Tier 1 Account- This is the basic account at Kraken Exchange. It is worth noting that Kraken Exchange Platform only allows withdrawals in digital currencies only. However, trading is possible with Fiat currencies. To acquire this account, you will be required to verify your identity by providing your full name, date of birth, country of residence, and phone number verification. Having done all that, you will be able to perform your trade at Kraken Exchange.

·Tier 2 Account- To verify your account in this level, all you will require is providing your address. Under this tier, one of the main Kraken Withdrawal methods is digital currency. You can as well do your Kraken Exchange deposit through the same means. Trading is equally done using digital currencies. Fiat currency option is availed depending on your country of residence.

·Tier 3 Account- One of the unique things about this type of account is that funding limits are way higher as compared to tier 1 and 2. This means that you have a larger room to trade as compared to other lower levels. Kraken Exchange Margin trading is also available under this tier. In order to acquire this account, you will have to do the necessary verification by providing key details including; valid national government identity card accompanied by your recent proof of residence.

·Tier 4 Account- This is the highest level at Kraken Exchange. It comes with added benefits including extended funding limits. Under this tier, you can get both individuals and corporate accounts. This means that if you intend to expand your trade and turn it into a corporate, then you can easily do so by finding your way to tier 4 accounts.

Note: all deposits and withdrawals are regulated based on different tiers. The limit at tier 1 may not be the same as the limit in tier 4.

Kraken Exchange Fees

Apparently, this is one of the platforms that offer the least fees as far as withdrawals are concerned. This is one of the reasons why Kraken Exchange platform stands abreast over others. The amount to be paid depends on the account tier. It should be noted that the higher the tier, the higher the volume of trading you can engage in. As the volume of trading goes higher, payable fees go down on the other hand. It is also worth noting that the buyer always pays a higher amount as compared to the seller. However, this should not worry you since the fees are low anyway.

Withdrawal fees are applied as follows:

·EUR SEPA withdrawal- 0.09 Euros

·Great Britain Pound Wire Transfer- 0.19% of the amount being sold or bought.

·USD SWIFT Withdrawal- 0.96% of the amount in question

·CAD EFT Withdrawal- 0.19% of the amount in question

·Japan Yen Withdrawal- 300 Yen applicable in Japan only

Crypto currencies withdrawals are even lower as compared to Fiat currencies. Charges go as low as 0.00050 for Bitcoin trade. Other currencies also feature minimal withdrawal fee. It is also worth noting that Kraken Exchange waives deposit charges in most of the cases. Only in EU countries where you will be charged 5 Euros for deposits made. All digital currencies do not require any fee to be paid in the name of deposits. As earlier noted, Kraken Exchange deposit is more or less free of charge. It is also important to note that there are some applicable trading fees, which are applicable to both the maker and taker. The said fees range from 0.16% and 0.26% depending on the amount at stake and the account tier. However, trading fees keep dropping as the volume increases. This further confirms that the more money you trade, the lower the overall charges. It is therefore ideal to consider trading even more at Kraken Exchange Platform. With the different types of digital currencies allowed at Kraken exchange Platform, you are certainly assured of the best trading experience. You are at liberty to choose from the different digital currencies aforementioned and perform your trade. As earlier indicated, trading fees are highly friendly hence the need to consider Kraken Exchange.

Simplified Usage of Kraken Exchange Platform

It is rather obvious that the challenge of using crypto currency platforms is real. However, this is something that Kraken has managed to maneuver around and curb fully. Although there were some technical hitches when the platform was established, it never took long for the company to set things right. It might interest you to know that today, Kraken Exchange boasts of having the most reliable yet strong platform as compared to other competitors. One thing for sure is that the platform works ideally for professional and amateur traders. It all begins with easy loading. You will easily access their online platform even if your Internet connection is not that strong. Aside from that, the developer of the platform understood the need for a friendly interface. The best thing about the interface is that it gives a clear array of functions hence making it easy for you to navigate from one point to another. In addition, the interface is highly simplified hence offering intermediate and advanced templates. With such an interface, it becomes easy for beginners to learn how to perform their trade while professionals on the other hand get a chance to use the advanced templates for maximum convenience.kraken platform 2

In addition, the platform is coupled with a highly friendly font type and color for easy visibility and attraction to the eye. The color is also highly friendly and authentic hence confirming the maximum professionalism exhibited by the agency. All trade values are clearly displayed hence further making it easy to know your account balance, fluctuation of currency value, the type of currency you are trading, among other things. Not to mention, Kraken Exchange Platform enables you to choose from a wide range of crypto currencies in just a few clicks. You will therefore face absolutely no challenges in the name of trading crypto currencies. Upon making your Kraken Exchange deposit, the balance will reflect in your account. That way, you can make the very simple steps of trading, courtesy of the highly friendly interface.

Maximum Security For You

There is no doubt that the first question you ask is if your money is safe with the agency’s platform. The answer to this is a big YES. It is totally understandable to cast your doubts from the beginning. Perhaps your intention is to invest a huge amount of money in buying digital coins. Perhaps the amount you have at hand is the only money you have. In such instances, a platform that is not secure enough should be avoided. Your security is highly guaranteed at the agency. The first feature that guarantees your security when trading at the site is the 2 factor authentication. This feature is available in the login part as well as the trading and funding processes. The idea behind this feature is to create an added security layer for any user. It becomes rather hard for any other person to login into your account without first providing the 2 factor authentication details. Aside from the 2 factor authentication, the platform also provides you with the chance to create a master password which can hardly be mastered or recovered through another device. While some other sites may provide their users with simple passwords for their accounts, Kraken focuses on securing all accounts by providing a secure password generation process. Not to mention, the global setting lock also works perfectly in securing your account even further. This feature is meant to keep off any attempts to access your account from a different country in instances of attacks. Considering that this crypto currency site is an international one, there may be the risk of losing your account to hackers. This is why the agency has provided the global settings lock whose role is to keep your account settings, passwords, and 2FA details among others highly safe.

Above all, the overall security of the site is sturdy enough to keep not only you but all other traders safe. This is not the kind of platform that is vulnerable to hacking. It is not the kind of platform that leaks personal details in an unwarranted manner. It is a strong site whose role is not only to offer a friendly trading platform but also a safe place for your investment.

Online Exchange Reviews

Obviously, any crypto currency-trading platform  is open to the opinions of the public. This means that any previous user of a give crypto currency trading platform is entitled to leave a review. This is the same case with Kraken. The platform has been subject to customer reviews since inception. The truth is that the reviews work ideally in helping prospective clients make their own decisions. The only problem is that there are platforms  that tailor their own reviews in the name of attracting clients. This may work but in most cases, clients end up getting disappointed when they realize that the reviews they read were not genuine. It goes without saying that tailoring customer reviews is unethical and misleading. In this case, you may be left wondering if the same is done at Kraken. The answer to that is a big NO. If you have ever gone through the reviews of this platform, you will certainly realize that there is a lot of positive comments made. To some point, you might be tempted to think that the reviews are customized to favor the image of the agency. The agency confirms that all the reviews that you find in the platform are highly authentic and all the positive comments are as a result of the exemplary services offered. You might realize that the strengths of this agency lie in the low charges on clients. The truth is that all applicable fees at the platform are in favor of the clients. While other platforms charge heftily for their services, Kraken takes the lead in mitigating the expenses that would otherwise be a heavy burden for both prospective and exiting clients. However, it is not always that this agency attracts positive comments. For instance, the agency has for the past few years faced criticism in regards to their weakness in handling the rapidly increasing traffic. Evidently, the prominence of the platform is on a rising trend considering the many people making way in the interest of trading crypto currencies. This explains the site overload in terms of traffic. However, the agency did not take long before having this issue addressed. In December 2017, the agency engaged in a major upgrade to ensure that the site was indeed fast and with the capacity to handle the large traffic. This has seen a remarkable reduction in critics as far as traffic control is concerned.

Aside from that, there was a time that the agency received criticism in regards to the user interface. Apparently, most beginners felt that the interface was not that friendly for amateur traders. This was also addressed to ensure that even those with no idea of how to trade had maximum ease maneuvering through the platform. It has now become possible for you to sign up, embark on the verification processes, and trade efficiently on the site. The developer of the platform has also gone ahead to offer step-by-step guidance on how to achieve certain things. For instance, you will be granted a guide on how to deposit or withdraw your money. You will also be guided on how to trade coins. In essence, the site is no longer unfriendly for users including amateurs. In general, the performance of this agency is satisfactory. Majority of the reviews are in consensus that the platform is highly friendly to its users, hence making it ideal for crypto currency trading. One thing for sure is that the managers of this site take note of all the reviews made by prospective and existing clients and make adjustments where necessary. This is one of the reasons why the platform remains among the leading since all the needs of clients are addressed with due urgency.

Application For Android Available

It is true that operating on a mobile application is far much easier than doing the same through a website. This is for the simple fact that applications are far much convenient and do not develop hitches as compared to websites. It is through the same concern that Kraken found it necessary to have a mobile application for its users. It is worth noting that this application for android is unofficial. It was Bit rocket that saw the need to develop an application for android users for the sake making the trading process easy. Altogether, crypto currency traders are able to access Kraken right from the android application. So, what can you achieve with the help of this app? First, you can login to your account right from the app. All you need is to provide your login details and you will be directed to your account. Just like the case where you login through the website, the app will also lead you to you account. The best part is that you can login and remain online for as long as you wish. As long as you have your connection intact, the app will keep you online all along unless you opt to logout. This application also allows you to view trading rates, depending on the coins you are interested in. For instance, you are at liberty to track the trends and market rates of Bitcoin right from the app. That way, you will be in a position to know the right time to trade. The same case applies to all other coins that are accepted in the platform. You can tell when it is safe to trade and when to back out. The application for android also allows you to check your balance as soon as you make a deposit or withdrawal. This means that you will not necessarily have to login through the website or contact the support team to check on your account balance. All you need is to open your app and the balance will be availed to you. In case of any transaction, the app will reflect change in balances instantly.

In addition, this application enables you to track previous and recent trades. Any trader can confirm that there is great importance in understanding the recent market. This is the only way you can make speculations hence acting within the right lanes of trade. With this app, you can easily tell what transpired in the past by checking on a clear breakdown of stats. In the same vein, the app also grants you the chance to access the order book. There is no doubt that this is one of the prime features. The order data is fully availed through this app, hence allowing you to keep track of your transactions. Through this feature, you can open the data, check on the history, and even close the data. It is also possible to place a standard order through the app for android. This spares you the hustle of accessing your account through a browser in the name of placing your order. All you need is to open your app and go directly to the ‘place standard order’ feature. It is also possible for you to cancel and open order. In case you feel that an open order does not attract what you want, it is always advisable to cancel it. This is easily achieved through the app. Figurative analysis of market trends is also availed through this app. For instance, you can easily get a depth graph portraying a clear scenario of the market wave. A financial analyst can easily tell when to trade more by simply checking the depth graph. Terms and policies as laid out by Kraken Exchange are also available through the app. Before you venture into crypto currency trade, it is always necessary to first understand the terms and conditions of the agency. That way, you will be in a position to strictly operate within the confines of the set rules. The app provides you with a clear outline of the terms and conditions hence it is for you to go through each of them and understand fully.

In a nutshell, there is a lot that you can do from the Kraken android app. It is far much easier to use the app as compared to access through a browser. Accessing your account can be done from any place without long loading hence making it convenient for you to glance through the markets and trade at your own convenience. The app can be downloaded from play store and other reliable online-based sources. It is particularly meant for devices operating on android operating systems.

Simplified Trading Guide For Amateurs In The Platform

The platform presents to you a comprehensive trading guide to ensure that you have an idea of exactly what you are doing. This was specifically developed for amateurs and those trading at the platform for the first time. However, even those who have been trading at the site before may want to have a recap of the key guidelines on how to embark on a fruitful and effective trading experience. Everything that you would want to know about trading at Kraken is addressed in full under this guide. The first thing you will learn in this guide is about leverage and currency pair trading. This basically falls under the order options. Considering that you will be making your orders from the platform, it is only ideal to understand everything about leverage and pair trading. In addition, you will also get to understand the relationship between leverage and margin, and currency exchange vs currency pair trading. All this is highly expounded under the order options in the trading guide. The most important section is all about trading basics. It goes without saying that you will at least require the basics in order to achieve the best results in your crypto currency trading. It is for this reason that all the basics in this form of trade are fully addressed in the guide. First, you will be presented with a list of all the coins you can trade through the agency. Among the main coins that you can trade here include; Bitcoin, Litecoin, Ethereum, among others. Each coin has its own value, which you will find at in the guide. Now that you have known the different types of coins to trade, you will also need to understand the process of selecting the different currency pairs. This is of course very important in guiding your knowledge as far as trading crypto currencies is concerned. Market price protection is also among the major things covered under the trading guide. It is definitely necessary to understand how secure your trade is especially with the changing market trends. All your questions in regards to market price protection are fully answered under this trading guide.

In extension, the trading guide also provides you with a comprehensive breakdown on the different applicable fees. First, you will be enlightened on what Kraken Fee Credits are. You will also be given the figures that are charged in trading. Above all, you will be provided with information on how fee for trading is calculated. This is undoubtedly an important piece of information since it will give you an idea on the amount to trade and what to expect in return. The conversion rates are also covered under this section, hence you will be in a position to establish the amount that will reflect upon making a deposit or withdrawal from the platform.

kraken platform

Deposit and withdrawal Methods

One of the main concerns put into consideration by the agency is safety for your funds and the wellbeing of the company itself. It is for this reason that the agency has been so selective with the means through which you can make deposits and withdrawals. It is absolutely necessary for you to understand the different applicable withdrawal as well as deposit methods for the sake of convenience now and in the long run.

It is worth noting as per the recent report Kraken does not give room for credit card or debit card deposits. This is highly justified in the sense that such transactions compromise the safety of individuals as well as that of the agency. Apparently, credit and debit cards are prone to fraudulent activities and this may translate into huge losses if not tamed. To avoid the whole mishap, the agency considered it necessary to first keep-off credit and debit card deposits at least for now. The safety of your funds is more necessary than the investment itself. It is therefore in the preference of the agency to protect its clients from possible fraud that may emanate from credit and debit card deposits. PayPal is also one of the deposit methods that the company does not accept. This is for the same reason that PayPal is vulnerable to fraudulent cases. Majorly, the platform gives room for SWIFT deposit method. This is considered safe since you will be required to first fill in a deposit form before your request is processed and confirmed. However, this form of deposit is only applicable to accounts that are in tier 3 and above. Other accounts can be loaded with funds through wire transfer.

It is important to first understand the deposit limits that you must not go beyond. The maximum deposit amount depends on the level of your account. You can view your deposit limit from your mobile app for android or from a browser. Upon clicking on ‘account’, go to ‘funding’ and then ‘deposit’. Once there, you will be asked to choose the kind of currency that you wish to deposit. If you choose USD, the platform will automatically show your maximum deposit amount. It is worth noting that as your account advances, you will be open to higher deposit limits hence offering you the chance to trade even more. There is also the option of digital currency deposit. This means that you can deposit your Bitcoin or any other coin into your account and invest in the same. The reason why the agency considered it necessary to endorse digital currency deposits is that they are instant and nearly irreversible. This implies that the agency stands almost zero chances of suffering losses that may occur in case a client reverses a transaction.

In addition, traders must note that the agency does not support third party payments including deposits. This simply means that deposits must be made from an account of the real trader and not another person. The system is programmed in a manner that third party transaction attempts are rejected automatically. In the same note, it should be understood that the agency may accept third party withdrawals from or deposits to third parties on condition that the individuals involved will provide personalized IBANs, which must be in the client’s own name. It is always advisable to link with the support team if you are not too certain if the IBANs you have are correct. You might be interested in making multiple deposits in a single day and in similar amounts. In that case, you should be aware that such transactions might delay in at least 3 business days. If you must make multiple deposits, then make sure that the amounts are not equal. That way, you will evade possible delay in amount reflection in your account. On a second note, international SWIFT Wires may take up to 7 days to arrive. It is therefore necessary to opt for a deposit mechanism that is fast and convenient enough for you.

In a nutshell, the for main types of deposits accepted by the agency are:

  • Fidor Bank AG SEPA
  • Fidor Bank AG Wire Transfer
  • SWIFT (SMBC)

Customer Support

The managers of this platform fully acknowledge the importance of providing the best services to the clients. This is the main reason why Kraken remains as one of the platforms with the friendliest customer support. For one reason or another, you might require some assistance from the support team. However, it is not all platforms that are able to address the needs of their clients fully. At the end, clients end up losing trust in the agency in question and even opt to seek services elsewhere. This is not the case with Kraken. One of the things that the agency made sure of is that clients are addressed at any point in time irrespective of the day or time. What does this mean? It is a confirmation that the agency’s support is in full operations 7 days a week, 365 days a year. You can therefore send your inquiry, concern, or complement to the support team and they will address it any time. Aside from that, the support team is highly responsive. You will realize that there are a number of ways in which you can reach the support. You can opt to send them an email, use the live chat on the website, or even call them directly. Any other avenues of communication guarantee you swift response from the support team. In just a matter of seconds, if not minutes, you will have your concern addressed. It is also worth noting that the support team is highly educated and eloquent in matters of trading crypto currencies. This means that any question or concern raised by any of the clients is addressed with due professionalism. The agency has done a lot to keep all members of its support team updated with the latest developments hence empowering them to address all issues in the right way. You will not be charged anything by the agency to contact the support team. The services offered by the said team are absolutely free of charge and can be accessed at any time of the day. The support desk is solely meant to provide clients with the answers they are looking for at zero cost. Above all, the support team is able disseminate its duties with the best public relations strategies. It is in the interest of any trading platform to treat customers just like the kings they are. This is fully understood in Kraken Exchange and that is why the customer support of the agency is highly friendly to its customers. All issues will be address with utmost politeness for the sake of keeping the image of the agency blemishes.

With a highly friendly support team, this agency has managed to build a very strong territory that cannot be compared to others. It all begins with ensuring maximum customer satisfaction. Everything else comes after customers are satisfied. In this case, Kraken has a good idea on how to satisfy both prospective and existing clients by offering no only the best rates but also good customer support. With the ever growing trade in crypto currencies, the only easy way to win the trust of clients is by offering them the services that they will live to remember. Relating with clients well is fundamental, and that is why this platform has gone beyond all odds to establish the best customer support.

Quick Account Creation and Sign Up Process

One clear thing is that most people interested in creating online-based accounts give up simply because the process is hectic and messed up. It is through such hitches that most platforms end up losing their clients. Kraken put the signup process into consideration and made sure that everything is absolutely easy for the user. In just a few simple steps, you will have created an account that can be used to trade crypto currencies. So, how do you go about the sign up process? The first thing is to ensure that you have all the basic requirements. To be eligible for an account the following will be required:

  • Email address- Any email address is considered ideal in opening an account
  • Internet connection- It is not necessarily strong Internet connection. As long as the connection is steady and can access the platform, then you are good to go.
  • Personal Information- This is basically the information that will be used to verify your account. In essence, your legal name, identity card number, and proof of residence is the basic information needed.
  • Personal Computer- It is worth noting that you should have a PERSONAL computer. This is because you will be trading currency hence the need for maximum safety. Public computers may expose you to phishing cases and that may eventually subject you to losses.
  • Reliable Browser- For easy sign up and sign in processes, it is greatly advised that you should have a reliable browser at your disposal. In most cases, it is advised that you should use Chrome, Firefox, or Edge browsers. Safari is not recommended for access to your crypto currency account.

Now that you have all the basic necessities in place, you can now proceed to the sign up bit. This is where the aforementioned details will be required. In a few straightforward steps, you will be able to create your beginner account. Here are the steps to follow:

#Step 1: – Access the Kraken website via Kraken.com. As earlier noted, it would be ideal to access the site using the recommended browsers. This will ensure that the sign up process is not coupled with hitches all along.

#Step 2: – Click on the sign up button. You will be requested to provide your email address and your preferred password. It is advised that you consider using a strong password to secure your account from unauthorized access. Once you have provided the email address and the password, hit on sign up.

#Step 3: – The next stage will be directing you to the account activation page. When you signed up, you will be sent an email with an activation code. The code will be required in the account activation stage. Be sure to provide the exact code as emailed to you. An error in code provision will only limit your account creation process. It is actually easy to copy and paste the code to the slot provided to avoid errors.

#Step 4: – Once you have pasted, hit on the activate button. Allow your browser to load until a confirmation of activation comes. You are now a registered member of the platform.

However, registration does not warrant you access to the trading platform. You will be required to verify your account before you can venture into the trade. The verification process requires you to provide your personal information. First, you will be asked to provide your full name as it features in your national identity card. You will also be asked to provide your date of birth, your country of residence, and your active mobile phone number.  Once done, you can click on ‘get verified’ button. For further authentication of your account, you will be requested to provide your physical address. Make sure you provide the correct zip code and any other details requested. Once done, click on ‘get verified’. In the recent past, there were some complaints that the team responsible for account verification was overly slow in doing so. This may be one of the challenges that you could face when opening your trading account. However, the team responsible will certainly verify you. Note that in case you provide the wrong information about yourself, verification may be declined. It is therefore very important to ensure that all the information requested is indeed authentic. The aim of the platform is to mitigate cases of fraud and that is why the verification process if very sensitive and strict. Once you have been verified, you will be set to get into trading. Take full advantage of the chance granted to make the most out of your investment. However, it is necessary to link your bank account to the kraken account. This is to ensure that you have a smooth flow of both deposits and withdrawals. So, how to you link your bank account to your Kraken account?

#Step 1:- Login into our account and click on the feature labeled ‘funding’. Once don, click on the ‘withdraw’ feature and select your preferred currency.

#Step 2:- Upon choosing your preferred currency, you will be asked to ‘add account’. At this juncture, you will be required to provide your bank account details. Make sure that the details you provide are authentic and accurate. Additionally, you must make sure that the name of your bank account is the same as the name that appears in your Kraken account. That way, you will have no trouble with verification. In an instance where the names of both accounts do not tally, you might be subjected to further verification.

#Step 3:- The final step is to confirm that you indeed want to save your bank account. Clicking on ‘save bank account’ will automatically confirm that you have added a new bank account to your crypto currency account.

Once you have confirmed that the account has been added already, you will be ready to make your very first deposit. This is a very simple process. The steps to follow are:

#Step 1:- Click on the funding option and select ‘deposit’. You will be asked to choose your preferred currency as well as the deposit method.

#Step 2:- Based on your preference, choose your most preferred currency. Also go ahead and choose from different deposit methods including bank transfer, SEPA, among others.

#Step 3:- Key in the amount that you intend to trade. Remember that you should consider the minimum amount to deposit and go above the threshold. Click on ‘buy’ once you have confirmed that the details provided are correct. Upon confirmation, the balance will reflect in your account, hence allowing you to start trading right away.

Sometimes back, it could take up to 3 business days for funds to reflect in your crypto currency account. However, this has since been addressed and it is possible to see your funds in a period of approximately 24 hours. In case you realize that it has taken longer than usual for your balance to reflect, it would be ideal to contact the customer support team and ask them to resolve the issue. However, on very rare cases will you experience delays in account deposits and withdrawals.

Account Termination and Suspension

Most people often ask…why would my Kraken Kbitcoin account be suspended or even worse terminated? These are cases that usually happen. One thing for sure is that the agency does not make decisions haphazardly. This means that everything is done following deep consultation within the agency. For one reason or the other, your account may be suspended. In such a case, the account is put on hold for further investigation and thereafter the ultimate decision. In a different note, an account may be terminated, which means that the owner will cease to be a member of the platform henceforth.

So, which are some of the reasons behind account suspension and termination?

  • Doubts in the ownership of accounts- In an instance where the agency realizes that there is perpetual changes in account details, the case is considered as suspicious. As such, you might be requested to re-verify your account while on suspension. If you are unable to verify your ownership of the account, then the agency will have no choice other than terminating the account. These cases may occur during the signup process or when the client is in the trading process. Your Kbitcoin in this may be withheld until full verification is done.
  • Personal Decision To Terminate Account-Kraken grants you the option to exit the company by requesting for account termination. This is purely voluntary and based on personal decision. If you feel that you no longer want to hold onto the company, then you can request for account termination.
  • Account Considered as a high risk- While Kraken offers entry by any person who successfully passes verification, there comes a time when the agency may consider an account as a high risk. For instance, if an account operates from a country that is on the watch list, then termination is considered ideal. In another case, if the business owning an account is linked to suspicious activities such as gambling and general online gaming, suspension or even termination may be considered. This is because such activities are considered not only weird but also a high risk as well.
  • Anomalies in withdrawal and deposits- It is true that the agency has all safety measures in place including regulation of withdrawals and deposit. However, there are cases where there may be cases of anomalie
  • s in transactions. If the frequency of customer transactions is alarming, then the agency may opt to terminate you account or put it on suspension for scrutiny.
  • Unwillingness To Associate With A legitimate Bank- It is a requirement that your Kbitcoin account should be linked to a legitimate bank. However, it is not all customers that are willing to link their accounts with legitimate banks. In such instances, the agency may crack a whip and opt to terminate such an account on grounds of suspicious activities.

Conclusion

It is highly evident that Kraken is one of the reliable platforms for Bitcoin, ripple, and other coin owners. Being one of the platforms with minimal fees, it becomes rather friendly for customers allover. The versatility of the platform goes beyond the usual. You might want to give it a shot. After all, a lot of people are already making a fortune out of trading Kbitcoin, Litecoin, Ethereum, and many more. Margin trading is also made better under this platform. It goes without saying that a platform that offers the best terms of trade should be considered. This exchange platform has made remarkable changes in the crypto currency market hence the need join the wagon.

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