Kraken is a cryptocurrency exchange based in San Francisco, California, founded in 2011. It is known for having the highest trading volume in Euros and allowing users to fund their accounts with several fiat currencies. Kraken has consistently been rated as one of the best and most secure Bitcoin exchanges by independent media outlets. It was the first Bitcoin exchange to be listed on Bloomberg Terminal, the first to pass a crypto-audit of its foreign exchange reserves from a third party, and the first to partner with a cryptocurrency bank.

Kraken raised $3 million in Seed Funding in March 2014, with Hummingbird Ventures as the lead investor. Currently, Kraken ranks among the most active digital currency exchanges in the United States. According to Bitcoin Charts’ current data, Kraken’s daily trading volume is 4,579 BTC, exceeding its competitors ANX and BTC-e.

Kraken Advantages:

Reasonable trading fees

Low withdrawal fees

High level of globalization

Kraken Disadvantages:

Limited payment methods

Not suitable for beginners

Kraken Features:

1, Comprehensive Security Methods

Kraken’s world-class security expert team works around the clock to cover all possible attack vectors to protect your crypto investment and identity.

2, Buy and Sell Assets in Just a Few Clicks

Kraken’s high-liquidity exchange ensures that your trading orders can be executed quickly at the price you want.

3, Fees as Low as 0%

Kraken’s competitive and investor-friendly fee structure rewards you for trading more.

4, Kraken Global 24/7 Support is Always at Your Service

Get help anytime by contacting Kraken’s highly qualified support team through live chat, or quickly find what you need through Kraken’s extensive support documentation.

Kraken Development History:

After Kraken was founded, it took two years to develop its backend systems and infrastructure. In September 2013, the exchange launched its services by offering trading between Bitcoin, Litecoin, and Euro listings and trading pairs, and it went on to add other cryptocurrencies such as Dogecoin and Stellar, as well as the ability to trade through traditional currencies such as the U.S. dollar, Japanese yen, British pound, and Canadian dollar.

In 2014, Kraken secured $5 million in Series A funding led by European venture capital fund Hummingbird Ventures.

In less than two years since its launch, Kraken had over $1.4 billion in transactions on its platform. This particular feat cemented its reputation as one of the most likely exchanges to grow within the cryptocurrency space.

These milestones helped Kraken attract more investors. The exchange completed a Series B funding round, securing unyielding investments from notable brands like SBI Holdings and Money Partners Group. The company also holds investments from other notable partners such as Blockchain Capital and Digital Currency Group — which also invested in its competitor Coinbase.

Kraken has also taken steps to remain compliant with regulations, allowing the exchange to stay legally compliant and demonstrate its objective of being a long-term player to stakeholders.

A far cry from the regulatory uncertainty it faced in 2013, Kraken has become one of the most popular cryptocurrency exchanges in the United States, currently headquartered in San Francisco. Building itself within U.S. territory wasn’t easy, however, and the company battled against Coinbase, the domestic leading digital asset exchange, which benefited from its user-friendly mobile application and its early claim to U.S. territory.

But that initial hurdle didnt deter Kraken from pushing further into North America. The most tangible results of these efforts were the acquisitions of two exchanges in the United States and Canada in 2016. That being said, the path from one of the most popular cryptocurrency exchanges to the most popular digital cryptocurrency exchange in the U.S. seems to be a long one for Kraken, as it continues to fight for that position in the market.

Beyond the fierce competition in the U.S. and its efforts to establish itself there, Kraken has expanded into Europe by acquiring numerous existing exchange companies within multiple regions, as well as offering services in Japan.

This move has paid off for Kraken, as the exchange has done very well in terms of its global market value. It has grown to such an extent that it has consistently been recorded as one of the world’s top ten digital asset exchanges in terms of daily trading volume. The exchange has recorded daily trading volumes exceeding $600 million, according to statistics platform CoinMarketCap.

As a traditional cryptocurrency exchange, Kraken operates by using trading pairs to trade between these cryptocurrencies. Customers can exchange one of these assets for the other offered in the trading pair, for example XBT/ETH, or they can purchase them through their fiat currency by using trading pairs such as LTC/USD.