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Kraken is one of the most reliable cryptocurrency exchanges. Kraken was founded in 2011 by Jesse Powell, making it older than even Coinbase and Gemini. They support a wide range of fiat currencies and cryptocurrencies with lower fees than most of its competitors. Kraken employs some of the best security measures and has already proved this by warding off some major hacks. They use cold storage along with 2-factor authentication, a master key and a global settings lock. They also offer a 24/7 live support chat around the world to answer any questions that you may have or help fix a problem.

To sign up to Kraken you only need an email, a username, and a password. There are four tiers of verification each unlocked by giving more details about yourself (To comply with anti-money laundering laws) Upon first signing up you will become tier 0, which will allow you to log in and view the interfaces, but not allow you to deposit or trade. To reach tier 1 you must confirm your full name, date of birth, country and phone number. This will allow you to deposit and withdraw cryptocurrencies but not fiat currencies. It will also allow you to begin trading in any currency.

Tier 2 is unlocked by giving your full address. This tier will allow you to deposit and withdraw Euros depending on where you live. Tier 3 requires proof of identity (Photo of ID) and proof of residence to unlock, allowing you to withdraw and deposit using US dollars and Canadian dollars and also increases your daily deposit and withdraw limits. The final tier, tier 4, is unlocked by completing the KYC questionnaire and documents, and massively increases your deposit and withdrawal limits. This tier is meant only for businesses and high-volume individuals so don't be afraid if you don't want to go this far.

The minimum deposit and withdrawal limits are different depending on your country, the way you want to deposit/withdraw and which currency you wish to use. Bitcoin has no deposit fee but a 100,000 satoshi withdrawal fee, with the other cryptocurrencies having similar withdraw fees but no deposit fees. Trading fees are between 0% to 0.16% for makers and 0.10% to 0.26% for takers, depending on the volume of currency being traded.

As one of the most trusted cryptocurrency exchanges on the market, there is no way you can go wrong with Kraken. Is it designed to be friendly to newcomers and experts, and will help you easily keep control of all your cryptos.

 

[Yugocean]

SEC charges Kraken on Staking

Today Gary led SEC has charged Kraken over staking service. Staking is considered as security by SEC, and Kraken is blamed for selling unregistered security.
This isn't going well with Kraken users.

 

[Yugocean]

Regulation issues
Kraken co founder Jessie Powell alongwith Custodia Bank's CEO Caitlin Long are lashing out at US regulatory for pushing bad actors forward to destroy crypto industry. It seems now regulators of US will face backlash.

 

[Yugocean]

Kraken Trying with US Regulators

Kraken is trying to deal with regulators in a legal way. The SEC has been holding back Kraken for some time, even with fines, as Kraken tries to prove that regulators lack fairness or real policy. \

 

[Yugocean]

Kraken claims safe
To allay the fear spreading after various stablecoins and banks, Kraken has also declared itself safe from the problem of Operation Chokepoint 2.0, linking itself to bitcoin.

 

[Yugocean]

NCAA based NFTournament
To capitalize on the NCAA men's and women's basketball event, Kraken NFT has released NFT Tournament with a prize pool of over $50k. Tier 1 rewards must be signed up for before March 14th at 1 p.m. ET.

 

[Yugocean]

ETH on 0xPolygon
Kraken has launched the facility of Ethereum deposit and withdrawal on 0xPolygon through its Pro version. 0xPolygon is a zero-knowledge technology built for scaling Ethereum.

 

[Yugocean]

Talking back

(source - @krakenfx)
Kraken has presented details of cryptocurrency utility and bank problems that are happening even after CFTC and SEC intervention. Ever since the SEC fined Kraken for offering staking, its policies are undergoing a change.

 

[Yugocean]

Partnered with Williams Racing
Kraken plans to grow its promotion in the sports sector, as part of which Kraken recently tied up with British Formula 1 team Williams Racing for its promotion in Europe.

 

[Yugocean]

Kraken subsidiary got VASP in Ireland
PES (Payward Europe Solutions) is an Irish crypto company and subsidiary of Kraken. It has received a VASP licence from the Central Bank of Ireland after satisfying the authority with the policies governing the company's financial obligations.

 

[Yugocean]

NFT
Kraken offers managed NFT collections supported on its platform. People with images they want on the rear wing can comment on Kraken's related post with those images. Maximum of 6 images will be valid.

 

[Yugocean]

Kraken Lists PYUSD
Kraken has become the first big platform to list PayPal stablecoin. Actually, it was Huobi that announced listing PYUSD, but it was Kraken that listed the stablecoin.

 

[Yugocean]

Tether Whale lost 4.46 million to scammer
A tether whale on the Kraken exchange has fallen victim to a phishing scam. The holder had withdrawn 4.46 million USDT from Kraken, but the address to which it was transferred has been identified as address of a scammer.

 

[naomi1999]

It is one of the oldest and most established exchanges in the industry. Kraken has been known for its security and compliance, which has helped it gain a good reputation in the crypto community. It is generally considered to be a legit exchange. It's good in my experience.

 

[Yugocean]

Partnered with Williams Racing
Kraken plans to grow its promotion in the sports sector, as part of which Kraken recently tied up with British Formula 1 team Williams Racing for its promotion in Europe.

Williams Racing ready for Australian GP

Kraken's partnership with British Formula 1 team Williams Racing mught create a crypto market for motorsport fans. Williams Racing's vehicle for the Australian Grand Prix in 2023 will bear the Kraken emblem.

 

[Yugocean]

Kraken is planning L2 network
Kraken is in talks with Polygon, Matter Labs, Nil Foundation, etc. to build its own Ethereum L2 network. Coinbase has already done such an experiment in Base before Kraken.

 

[Yugocean]

Anoty SEC Lawsuit.

SEC has filed a new lawsuit against Kraken, which paid a fine to SEC previously, but SEC is not giving up on it. The recent decline of CZ has worried Kraken instead of giving it an opportunity to take on the market.

 

[Yugocean]

Zakinov request Opposed by Kraken
The debate over whether XRP is a security is still ongoing in the California court. Kraken has filed motion against the request of Plaintiff Zakinov to provide XRP transaction data and customer details.

 

[Ptrikha90]

Kraken is planning L2 network
Kraken is in talks with Polygon, Matter Labs, Nil Foundation, etc. to build its own Ethereum L2 network. Coinbase has already done such an experiment in Base before Kraken.

Sounds pretty interesting. However I wonder if it is Kraken which is among a few Crypto networks likely to be banned in India due to certain objectionable practices?

 

[Yugocean]

For Monero
After Binance informed about delisting Monero, Kraken has directly supported Monero regarding privacy. Possibly Kraken is encouraging Monero hodlers leaving Binance to port to Kraken.

 

[Yugocean]

Jeffrey Wilcke's ETHs
Kraken have the custody of Jeffrey Wilcke's ETH, the Co-founder of Ethereum. Either Wilcke is dumping his ETH, or just keeping in Kraken, both means Wilcke trusts Kraken for his ETH.