Kraken Review

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Kraken Quick Summary

1. Overview: What is Kraken Pro?

Platform Description: Kraken Pro is an advanced trading interface offered by Kraken, one of the world’s leading and cryptocurrency exchanges. It caters to traders seeking more sophisticated tools than those available on a standard crypto exchange interface.

Key Differentiators: UI customization, fast trade execution speed, “seamless” spot and derivatives trading and available across mobile, web, and desktop.

• Other selling points: Advanced order types, access to spot and futures markets, robust charting tools, and in-depth analytics.

2. Key Value Propositions: Kraken Pro & Futures trading

Depth and Liquidity: High liquidity across various trading pairs, ensuring competitive spreads and a reliable market for both spot and futures trading.

Advanced Trading Tools: Multiple order types (market, limit, stop orders, etc.) and in-depth charts that allow users to execute complex trading strategies.

Competitive Pricing:

• Spot: Low, volume-based fees that reward higher-volume traders with lower fees.
• Futures: Futures trading is generally lower cost than spot trading and allows users a capital-efficient way to trade with leverage.

• Kraken offers a premium platform with strong design and liquidity – we do not position our pricing as a distinctive value proposition and believe our clients are willing to pay for quality and security.

• Kraken Pro is free to access, for anyone with a Kraken account. Clients get unrestricted access to powerful charting and broad selection of indicators.

Regulatory Compliance:

• Kraken Pro comprises a number of offerings and instruments that are subject to different regulatory requirements – transferring fiat currency (like USD or EUR) onto the platform requires different licensing than trading e.g. derivatives.

• In Europe, Futures trading on Kraken Pro is subject to MiFID II regulation – that means we adhere to a variety of investor protection, KYC and operational controls to ensure a secure and reliable trading experience for our users.

• Within futures and derivatives trading, traders have many offshore trading options that offer users no guarantee of security or regulatory supervision and adherence.

Security: Kraken has a long legacy leading the industry in security practices, such as cold storage for digital assets and robust account protection features.

3. Accessing Kraken Pro

Web, Mobile & Desktop: Kraken Pro is available as a web-based interface (pro.kraken.com) and through a dedicated mobile app (iOS and Android). There is also a native desktop product, Kraken
Desktop.

Account Setup: Users can sign up on Kraken.com or on the mobile app, complete verification (following KYC requirements), then seamlessly access Kraken Pro once the account is approved. There are additional KYC and appropriateness requirements for leverage products like futures trading that have slight variations by region.

4. How to Get Started with Trading Futures on Kraken Pro

1. Enable Futures Trading
   • Users must meet eligibility requirements (varies by jurisdiction).
   • Once eligible, a dedicated “Futures” tab will appear or become accessible within the account.
2. Deposit Funds
   • Fund the Kraken account via crypto deposits or fiat currency (bank transfer, wire, etc.), then allocate to the futures wallet.
3. Select a Futures Contract
   • Choose from a range of crypto futures contracts (e.g., BTC, ETH, and others).
4. Set Order Parameters
   • Place market or limit orders, specifying leverage, quantity, and price targets.
5. Monitor & Manage Positions
   • Track open positions and adjust or close them as market conditions evolve.

5. Why trade futures on Kraken Pro? (RTBs)

For existing crypto futures traders:

• Product simplicity + user experience

For tradfi derivatives users:

• Kraken is one of the most compliant, secure and transparent futures trading platform.
• Kraken offers on-shore, regulated trading
  • We are supervised by a highly esteemed regulatory body that ensures safety & soundness of our platform, technology, security, privacy, and governance.
  • This is the same regulatory standards that have safeguarded the traditional investment sector for decades
  • An EU regulated offering comes with firm rules on investor protection
  • We have the added protection of our fiat and crypto services adhering to a separate but similarly stringent set of regulations as well.

For all:

• The only place you can trade EU regulated perpetual futures
• Capital efficiency: With a variety of collateral options available, and up to 50x leverage – our clients can execute a range of strategies while minimizing their capital requirements, allowing them to take on larger positions with less capital.
  • Trade with up to 50x leverage
  • Multi-asset collateral including EUR, allowing users to hold the assets they choose for collateral
  • Strong fiat onramps and ease of wallet transfer
• Comprehensive features and listings: 50+ derivatives markets

Best For

Security

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Get Started securely through Kraken’s website

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Best For

Security

N/A

1 Minute Review

Kraken is one of the oldest cryptocurrency platforms in the crypto market, catering to both new and expert cryptocurrency traders. By supporting over 200 cryptocurrencies, including altcoins and meme coins, Kraken gives investors more choices along with deep liquidity. The platform ranks No. 1 in Europe in large order executions with over 35% market share. In February, the platform launched an institutional offering to provide solutions like spot and over-the-counter (OTC) trading, custody and staking.  

Best For

• Traders looking for advanced features and analytics
• Investors seeking access to a wide range of cryptocurrencies

Pros

• Provides access to a broad range of major cryptocurrencies and altcoins
• Customizable order types, charts and leveraged futures trading
• Strong commitment to security and regulatory compliance
• Trusted by over 9 million clients in 190 countries

Cons

• Not available in all U.S. states — no services to New York and Washington residents
• You pay higher fees if you are not on Kraken Pro
• Multiple apps may be confusing to beginners
• Staking and rewards not available in the U.S.

Best For

Active Crypto Traders

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earn free crypto securely through Coinbase’s website

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Disclosure: Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.

Best For

Active Crypto Traders

N/A

1 Minute Review

Coinbase is one of the largest cryptocurrency exchanges by trading volume, serving customers in over 100 countries and supporting hundreds of crypto coins and tokens. The platform features a user-friendly interface with options like staking and earning, as well as a “learn and earn” feature where users watch educational videos and answer questions to earn crypto assets. Trading fees can be high on the basic platform, but users can access the advanced platform for free.

Best For

• Coinbase is best for beginners because of its user-friendly interface.
• The availability of over 30 products caters to the needs of traders of every mindset.

Pros

• Coinbase offers a learn and earn program.
• You can earn coins and tokens by watching tutorials and answering crypto-related questions. This platform lets you earn crypto just by spending your fiat via a debit card as you normally would when you use Coinbase’s Visa debit card.
• Offer a wide variety of altcoins.
• Ideal for new investors.

Cons

• Complicated fee structure
• Does not support margin trading (only 3x on Pro version)

Best For

Altcoin Trading

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get started securely through Binance’s website

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Best For

Altcoin Trading

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1 Minute Review

Binance is the largest cryptocurrency exchange in the world by trading volume. In fact, it tops the ranks of cryptocurrency exchanges maintained by CoinMarketCap, which are ranked based on 24-hour trading volumes, exchange score and average liquidity. Binance triumphs over exchanges like Huobi Global and Coinbase, which follow closely in 2nd and 3rd places, respectively. 

Previously based in Malta, the Binance Group is now based in the Cayman Islands. Binance has several locations and entities registered across the globe. In the United States, it’s known as Binance.US. The exchange in the U.S. uses the same cutting-edge technology and trading services as its global counterparts with the difference being U.S. regulatory compliance. It is operated by San Francisco-based BAM Trading Services.

Binance.US ranks 9th on CoinMarketCap’s list of the top 10 exchanges based on metrics like 24-hour trading volume, exchange score and average liquidity. Binance could be a good platform for you to invest in cryptocurrencies if you are a U.S.-based trader who trades frequently, doesn’t intend to pay high trading fees and needs access to a large number of cryptocurrencies. 

Best For

• US Citizens
• Frequent day traders
• Users interested in Binance Smart Chain (BSC) and Binance Coin (BNB)

Pros

• Low trading fees
• Easy-to-use platform
• Wide selection of altcoins — it offers 51 cryptocurrencies apart from Bitcoin (BTC)
• Good customer service
• High liquidity because of large trading volumes

Cons

• Only residents of 43 states in the U.S. can trade on Binance.US. You cannot trade on this platform in New York, Connecticut, Hawaii, Texas, Vermont, Idaho and Louisiana
• Despite the wide selection of altcoins, the number of tokens offered on the U.S. platform is not comparable to the hundreds of choices available on the Binance global platform
• There is no option for telephonic customer support

Best For

Social Investing

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Discover eToro securely through eToro’s website

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Disclosure: Take 2 mins to learn more at https://etoro.tw/44JRWLY. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk

Best For

Social Investing

N/A

1 Minute Review

eToro crypto offers access to wide range of tokens, investment opportunities and educational tools for investors of all styles and levels of experience.

Best For

• Investors looking to CopyTrade other traders
• Simple user interface

Pros

• Several major cryptocurrencies and altcoins
• Expansive network of social trading features
• Large client base for new traders to imitate
• 100+ coins available

Cons

• PayPal and Credit Card are not available for UK and FCA users

What Else is Available on Kraken Pro

Spot Trading: Access an extensive list of cryptocurrencies with real-time charts and order books.

Staking Services: Earn rewards on supported cryptocurrencies held in your Kraken account.

Advanced Reporting & Analysis: Comprehensive trade history, order book data, and charting tools for more informed trading decisions.

This marketing communication is intended for informational purposes only and does not constitute an offer or solicitation to buy or sell any financial instruments or to participate in any particular trading strategy. The information contained herein is not intended to be a comprehensive description of the financial instruments or services offered by [Kraken] [Payward Europe Digital Solutions Limited – Cyprus.]

Risk Warning: Investing in derivatives involves significant risk and is not suitable for all investors. The value of investments can go down as well as up, and investors may lose all their invested capital. In the case of leveraged products, losses may exceed the initial investment. Past performance is not indicative of future results.

Geographic restrictions apply. Projected annual rate is an estimate based on the average staking rewards accrued over the past period, before commission, and is subject to change. Staking involves risks including no guarantee of rewards, potential loss from slashing or hacks, and depreciation in the value of assets while staked. Please refer to Kraken’s Terms of Service for additional information.

Frequently Asked Questions

The post Kraken Review by Benzinga Sponsored appeared first on Benzinga. Visit Benzinga to get more great content like this.