Kraken has been in the news this week after co-founder and CEO Jesse Powell stepped down as the company’s CEO. Kraken is one of the oldest crypto exchanges in the space and has a robust offering. SEP_Roth looks into the pros and cons:
. Kraken’s current chief operating officer, Dave Ripley, will take over as CEO once someone is hired to fill Ripley's position.
Here’s how to get started on the exchange and some of the key factors that you should consider when deciding if it’s the right exchange for you.The first thing you're going to have to do is create an account. Head over toFollow the sign-up procedure: Add your name, contact details and then click on submit. Once that's done, Kraken will send you an email for you to activate your newly created account and enter the activation code.
Clean and simple, the headline and its ribbons are easy to find and understand. Whether it's the prices of the various cryptos Kraken has to offer or its learn content that will help you get up to scratch with your crypto knowledge, everything can be accessed from the central dashboard. When transferring money from your bank account to Kraken's exchange you will also be subject to fees. If you moved $100 to Kraken, you would end up with $98 worth of crypto as opposed to the $100 you transferred.
Kraken also says that 95% of its deposits are held offline in cold storage. The company also claims that its service is monitored around the clock by guards and technological surveillance tools.Despite all the pros, Kraken is not infallible. There are cons that could make it not a fit for your needs.The key area Kraken could improve upon is its availability in different jurisdictions. For instance, investors residing in New York and Washington state in the U.S.
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