Kraken Review: If you are interested in a minimum the world of cryptocurrencies to invest, you may have heard of the platforms for buying bitcoins.
Other assets also there in the market of this type, such as Kraken, which we are going to talk about here.
In this complete review, we will present this platform in detail and we will reveal its main features, rates and also its different types of account proposed by Kraken.
Presentation of the Kraken Review :
To start this article, we suggest you first discover a little more in detail what is the Kraken company and what are the services it proposes. Many people who are interested in bitcoin casino and cryptocurrencies ask questions about both the security of this type of transaction and how it works.
The Kraken company specializes in the bitcoin market and today has become the largest bitcoin market in the world in terms of sales volume and liquidity. This company was created in 2011 in the United States and its headquarters are in San Francisco. Its activities are carried out in the North American market, but also the European market and Japan.
Kraken Review – Bitcoin Online :
The platform developed and exploited by Kraken allows anyone who wants to buy bitcoins online but also makes available to its user’s practical tools such as customizable graphics or statistics.
This platform is experiencing great success today and has even become the second most important in the world in terms of sales made.
To reach this level and this success, Kraken has also turned to investors. In this way, it has carried out 3 fundraisings to obtain a capital of more than 6.5 million dollars. It has collected among 13 different investors, such as Money Partners Group, Blockchain Capital or also Digital Currency Group.
Of course, this company also carries out various investments to develop its activities. Thus, they bought a crypto market viewing platform, called Cryptowatch. Also, they bought the Bitcoin Coinsetter virtual market and the Clevercoin market, in the Netherlands.
Services and assets Kraken proposes:
As you have understood, Kraken’s online platform was established to allow people who wish to buy bitcoins and other types of cryptocurrencies. Of course, you can also sell these assets and make transactions with margin thanks to the evolution of prices. Kraken does not only propose one type of cryptocurrency but 15 in total, such as Bitcoin, Ethereum, Bitcoincash, Monero, Dash, Litecoin, Ripple, Stellar Lumens, Ethereum Classic, Augur tokens, Iconomi, Melon, Zcash, Dogecoin, Tether, Gnosis, and EOS.
Kraken also proposes fiat money comprising Japanese Yen, US Dollars, Euros, Canadian Dollars and British Pounds. Deposits and withdrawals of fiat money can be made through SEPA transfers, classic transfers or Swift.
In addition to the online services, Kraken also proposes a mobile application available only for the iPhone. However, this application seems to disappoint investors quite a bit due to different problems, so we advise against using it for their transactions. Thus, it is better to use the website of this platform which, however, is reserved for experienced users and may seem a bit complex.
Different accounts proposed by Kraken Review:
The Kraken cryptocurrency trading platform has accounts of various levels. When you open an account on this platform, you get a level 0 account.
The difference between the levels of the accounts lies in the daily and monthly limits of deposits and withdrawals from cryptocurrencies and fiat money.
Of course, the price of billed expenses also varies depending on the level of the accounts. Thus, the accounts with the highest levels represent the lowest expenses. These are, therefore, the different levels of accounts that are proposed and their particularities:
Level 0 accounts:
This is an account that does not accept deposits or withdrawals of crypto or fiat funds. This account allows access to price statistics and graphics only. Therefore, you must imperatively go to the level 1 account to start enjoying the transaction services of this platform.
The level 1 account:
Once you have reached the level 1 account you can deposit and withdraw cryptocurrencies. This account has no deposit limit either daily or monthly. But it does have limits for withdrawals, which are up to $ 2,500 per day and $ 20,000 per month.
The level 2 account:
The level 2 account allows you to deposit fiat money with a maximum of $ 2,000 per day and $ 10,000 per month. You can also withdraw a maximum of 2,000 fiat dollars per day and 10,000 per month.
For cryptocurrencies, the limits are slightly different. Indeed, you can withdraw $ 5,000 from cryptocurrencies every day and between $ 20,000 and $ 50,000 per month depending on the currency.
Access to the level 2 account is made by indicating your postal address in your online account. Again, you will have to wait a few days before this data is validated and your account is evaluated to go to level 2.
The level 3 account:
Of course, it is a level that again offers higher limits. Thus, the limit regarding fiat money deposits here goes to $ 25,000 per day and $ 200,000 per month.
With regard to cryptocurrencies, the limit, in this case, is $ 50,000 per day and also $ 200,000 per month. This account will be adapted to the most important traders.
The level 4 account:
Finally, the last level of account that you can access with Kraken is 4. However, it is only reserved for traders who carry out transactions with significant volumes or for companies and finance professionals.
It should be noted that the limits set for this account level are impressive, with more than $ 100,000 of fiat deposits per day and up to 500,000 of fiat deposits per month. Read more about Kraken here.
With regard to cryptocurrencies, the limit is set at $ 100,000 per day and $ 500,000 per month. To reach this level 4 account you will have to contact Kraken customer service.