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About Kraken

What is Kraken?

Kraken is a US-based cryptocurrency exchange that allows users to buy, sell, and trade a variety of assets on the platform for relatively low fees. In addition, customers of the exchange can also pledge tokens to earn rewards. The exchange has industry-leading trading volume and liquidity in euros and allows users to trade more than 100 cryptocurrency assets and seven fiat currencies, including the U.S. dollar, Canadian dollar, euro, British pound, Japanese yen, Swiss franc and Australian dollar, through its web platform and mobile app (app). The exchange was founded in 2011 and was one of the first cryptocurrency exchanges to offer spot trading, derivatives and index-based commodities. Today, the company behind the exchange offers a number of products and services, including spot trading, margin trading, futures trading, index trading, pledging, OTC trading and a soon-to-be-launched non-homogenized token (NFT) marketplace. The exchange provides services to over 8 million traders and institutional clients and is backed by Digital Currency Group, Blockchain Capital, Tribe Capital, Hummingbird Ventures, and others.

Who are the founders of Kraken?

The centralized exchange is owned by Payward Inc. and its founder is Jesse Powell, the company's current CEO and cryptocurrency pioneer. Powel has been studying digital currency since 2001. He graduated from California State University with a degree in philosophy and majored in ethics and law, founded Verge Gallery and Studio Project, and founded Internet Ventures & Holdings.

When did Kraken launch?

Kraken was founded in 2011 and went live in September 2013, initially offering Bitcoin, Litecoin, and Euro-denominated trading services.

Where is Kraken located?

The company is based in San Francisco, California.

Countries with restricted access to Kraken

Kraken is available to all U.S. residents except those in New York and Washington, D.C. However, not all U.S. residents have access to Kraken Futures, which currently has millions of users from over 200 countries worldwide. The company has several access restrictions for users in the following countries: Afghanistan, Central African Republic, Congo-Brazaville, Eritrea, Congo-Kinshasa, Guinea-Bissau, Cuba, Lebanon, Iran, Mali, Iraq, Namibia, Libya, Somalia, North Korea, South Sudan, Syria, Sudan, Tajikistan, and Yemen.

What currencies does Kraken support?

The platform supports over 120 cryptocurrencies, including Bitcoin, Ether, Litecoin, Ripple, ETC, ZEC, USDT, and more.

What are the fees for Kraken?

There are different transaction fees for different products on the platform (e.g. Instant Buy, Kraken Pro, stablecoin, margin, futures, NFT, etc.). The basic Instant Buy, for example, charges 0.9% for stablecoins and 1.5% for other crypto assets; fees also vary by payment method. The fee for a pending order ranges from 0.00% to 0.16%, while the fee for an order to eat ranges from 0.10% to 0.26% (based on how often a user trades within 30 days).

Can I trade with leverage or margin on Cryptocurrency?

Advanced users can use the margin trading and futures features offered by Kraken Pro. The platform offers up to 5x leverage. The maximum leverage available depends on the pair.