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So, what’s Kraken?
Not the hockey team or any kind of rum. Kraken is a cryptocurrency exchange that allows individuals to buy and trade with cash, other cryptos, and on margin. The exchange itself is not new, however, mobile app access will be new to the US. Kraken is a highly trusted exchange in the cryptocurrency market. The introduction of Kraken in the US mobile cryptocurrency market will provide investors an additional option at their fingertips.
What do you need to know?
Kraken claims to offer lower transaction fees on average than Coinbase. Coinbase has been seeing up to 6.1 million users on average a month in 2021. In Q1 2021 alone, Coinbase has handled $335 billion in transaction volume for various cryptocurrencies. This new introduction could mean a significant amount of users flocking to Kraken’s exchange. In addition, Kraken permits a higher trading limit along with more cryptocurrency options than Coinbase.
Currently, Kraken is not available for residents of New York or Washington state. If you’re a resident of another state and are looking to jump into the crypto market or want to trade at higher volumes check it out.
Want to see how it stacks up against Coinbase? Click here.
Ready to dive right in? Well, let’s get Kraken.
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Have any comments about Kraken’s new launch? Share your thoughts below!
This article is originally published in GREY Journal.