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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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Kraken is a top choice for security-conscious traders, offering advanced features like futures and margin trading. Its robust regulatory compliance and strong security measures make it highly trusted in the industry. While fees are competitive, the platform can be complex for beginners, and customer support experiences vary. Overall, Kraken is well-suited for experienced traders who prioritize security and advanced trading options, but newer users may face a learning curve.
Overview
Quick Facts
Kraken stands out as one of the premier cryptocurrency exchanges in the United States, established in 2011. It's recognized for its competitive fees and a robust level of trustworthiness, anchored by its lengthy history and compliance with U.S. regulatory standards. Since 2020, Kraken has enhanced its offerings with a banking license.
Informations
Pro's & Con's
- High reputation and trust
- Banking license
- Low fees
- Operation could be easier
- Higher fees for purchases in the app
Kraken
Features
Feature Overview
Unique Features
- Margin trading with up to 10x leverage
- Copy trading
Tradable Assets
- Cryptocurrencies
- Derivatives
Trading Options
- Margin trading (leverage)
- Short/Long
- Kraken Pro for trading
Our
Kraken
Review
Test Result
Conclusion
Kraken is a top choice for security-conscious traders, offering advanced features like futures and margin trading. Its robust regulatory compliance and strong security measures make it highly trusted in the industry. While fees are competitive, the platform can be complex for beginners, and customer support experiences vary. Overall, Kraken is well-suited for experienced traders who prioritize security and advanced trading options, but newer users may face a learning curve.
Customer Reviews
/ 5 average rating from -- reviews
Write a Review
Share your experience! Your review can help others make informed decisions. Let us know what worked well and what could be improved. Your feedback is valuable and will contribute to our community’s knowledge.
Kraken
User Reviews
Kraken users may admire the simplicity of the platform, which suits both novices and experienced traders. However, performance issues have been reported, and the mobile app has been described as lacking by some.
Kraken is praised for its extensive range of both cryptocurrencies and trading features, including leverage and futures trading, and staking which can earn you interest. If only there was a broader range of cryptocurrencies available.
Kraken is generally considered user-friendly for beginners and also offers advanced features for seasoned traders. Some users could be overwhelmed since the platform offers more complicated trading options.
Kraken's fee structure is considered fair and competitive, with a clear breakdown that users appreciate. Despite this, there is a desire for more detailed information regarding any additional potential costs.
Kraken is viewed as secure with various protective measures, though technical issues and transaction delays have been reported by some users.
Kraken's customer support is seen as helpful and attentive by some, but others report slow response times and lack of adequate support.
Kraken's user experiences are primarily positive as they enjoy the platform's wide range of cryptocurrencies, ability to trade, and high-level of security. Nonetheless, some individuals expressed a desire for improved customer service and found that the platform itself could be more stable.
About
Kraken
Kraken
Kraken Review: Pros, Cons, Fees and Features 2024
Users?
Score
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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