Kraken Interest Account Rates

Overview of Kraken

Based in San Francisco, it has quickly become one of the most well-regarded exchanges in the industry. Traders and institutional investors alike use the company because of its reputation for quality services and high levels of security.

Over the years, Kraken has had the distinction of being the first exchange to pass the Proof-of-Reserves cryptographic audit (with flying colors), and they have been selected to provide crypto market price information to Bloomberg Terminal.

Today, the company serves around 4 million people in over 200 countries, with offices around the globe, including the UK, Japan, and Singapore.

What Services does Kraken Provide?

Kraken works along the lines of an exchange that operates in stock trading. The difference here, of course, is that market participants trade in cryptocurrencies. Participants can buy or sell using various fiat currencies, including US Dollars (USD), Euros (EUR), and Canadian Dollars (CAD), all with minimal fees when using the exchange.

The website lists all currency pairs that can be traded on the Kraken exchange. These include Ehereum (ETH), bitcoin (XBT), Monero (XMR), and Litecoin (LTC).

Kraken's trading platform can be accessed by individual traders and large trading firms alike. They offer a number of accounts that cover the needs of any type of trader and investor and offer the following key features.

• Fiat-to-crypto conversions - These include U.S. Dollars (USD), Great Britain Pounds (GBP), Japanese Yens (JPY), Swiss France (CHF), euros (EUR), and Canadian Dollars (CAD)
• Over-The-Counter (OTC) trading - High volume traders can enjoy a more personalized service with the Kraken OTC Desk.
• Dark pool - For those looking to trade anonymously, they can use Kraken's invisible order book without having to reveal their interests to other traders.
• Margin trading - Users can supercharge their trades with more complex, active trading strategies. With margin trading, they can have five times the earning potential compared to a regular spot trade.
• Futures trading - Futures are often easier to understand, have higher liquidity, and have greater margin use. They can help traders multiply their profits with advanced trading methods, and offer reduced risk. You can find out more on Kraken's Future Trading page.
• 24/7 customer support - Kraken offers its customers around the clock support, with a team of hundreds of full-time, dedicated Client Engagement specialists who have the knowledge needed to help customers with their crypto and other financial needs.

How Safe is Kraken?

Kraken is one of the most secure cryptocurrency exchanges on the market. As listed on their website, they have a number of security measures in place, including:

• Safe coin storage
• Armed guard surveillance
• SSL website encryption
• Video surveillance
• 2-factor authentication
• PGP encryption for email communication
• Regular penetration testing for bugs and threats

It is also worth noting too that they comply with the rules and regulations of all supported jurisdictions and are registered with such financial bodies as FINTRAC in Canada, FINCEN in the United States, the Financial Conduct Authority in the UK.

How Do I Open an Account with Kraken?

You can create an account on their website. For a starter account, you only need to provide them with your email and contact details, but for advanced accounts and larger withdrawals, you will need to provide documentation as part of the verification process.