If you have successfully registered on Kraken, a blue box will appear asking you to verify your account. This is urgently needed, otherwise no trading and no deposit is possible. There are also three different types of verification.Is the platform reputable?
Kraken has been active since 2011 and is one of the largest cryptocurrency exchanges. The deposits and withdrawals go flawlessly, fraud is excluded. How verification works
As already mentioned, there are three different levels of verification:Tier 1:
This level is about personal data. The full name and date of birth must be entered here. The mobile phone number must be provided as well as the country, which is important for the next levels of verification. Tier 2:
Only the address data has to be entered here. Tier 3:
Now it gets a bit more complicated. For identity verification, an ID, passport or driver’s license must be uploaded. The image must be colored, and the date of birth and the effective date must be clearly visible. When submitting an ID, Kraken asks that both sides be uploaded.
Next, a document confirming the address given in Tier 2 is required. This can be a utility bill, bank statement, internet bill, etc. However, this document must not be older than 3 months.
Finally, a picture is required that uniquely identifies the owner of the account. For this purpose, the identity document and a handwritten note with the inscription “only for trading digital currency on kraken.com” must be held in the camera. Very important in this case is the current date and signature. The face, the ID, the note, the date and the signature – everything must be visible and easy to read.
Does Kraken have an app?
Kraken has had its own app since 2014, but it has some shortcomings. The app does not allow fast orders at the market price and is severely limited in its menu. Often some trading pairs can not even be selected, which is a big disadvantage especially in hectic situations.
Once the trading pairs have been found, it may be that the app still does not execute the order – this is not only annoying but also frustrating. Because of this, I can only recommend the desktop version, as this has not led to any problems for me so far. These fees apply when trading
When buying a currency, Kraken incurs 0.26% fees, for a sale 0.16%. If you want to withdraw Bitcoin, you only pay the standard network fee. The stock exchange itself does not take any money for this. Note:
The fees at Kraken are staggered, the larger the trading volume was within the last 30 days, the lower the fees. The fees quoted are interesting for people whose trading volume is less than 50,000 US dollars. Here it can be said that much lower fees are incurred than with some competitors (Bitcoin.de, coinbase, paymium). The conclusion to Kraken
Kraken has been a renowned provider of the largest cryptocurrencies since 2011. The exchange convinces on the computer with great design and fast transactions, but as an app can not keep up with the competitors. The mobile version urgently needs a revision – in today’s digital world, the tried and tested sentence still applies: The competition never sleeps.
What every customer should consider before signing up with any exchange is the answer to the question of whether trading cryptocurrencies is something for itself. Cryptocurrencies and speculating on rising (or falling) prices come with significant risk. Although only the money that has been exchanged for crypto currencies can be lost at Kraken, there is always the danger of a complete loss, at least in theory.
Cex,io is a broker that offers a trader the opportunity to buy Ethereum, as well as to trade with the cryptocurrency Ethereum. We would like to show you our experience with the platform, how successfully you can buy, sell and trade with this trader with the virtual currency. It was also understated how secure you can use this platform. The fees were also examined in more detail, and compared with those on other platforms. What is Cex.io?
Cex.io is an online virtual currency broker. In addition to Bitcoin, Bitcoin Cash, Dash, Ethereum and Zcash can also be purchased. Trading is made possible with the currencies Euro, US Dollar, British Pound and also the Russian Ruble.
When trading on Cex, a trader has the following ore types available: Limit, Market and Margin Trading. Market trading supports instant buying at the best price currently available. Margin trading gives the trader the opportunity to maximize potential profits with a correspondingly high risk by means of various levers. This platform is currently not available in German for customers from German-speaking countries.
During the registration, the multiple notes regarding security come to mind. For the first registration you only need a valid email address and a freely chosen password. Right at the beginning, we are asked on the platform to activate 2-factor authentication for his new account, a fact that is highly recommended when trading online. The user interface of the platform CEX.io is quite clearly designed.
In the Buy/Sell section, you can buy the required amount of Bitcoins or Ethereum, and in return enter your own fiat currency to pay with. The trade area is exclusively for trading the respective currencies. The price chart in real time is available, and also an overview of the order, and of course there are input fields for orders.
The Finance section is also very clearly arranged, which offers the trader an overview in real time at any time of all currencies available at the time, as well as the cryptos he has acquired. Here a trader can also make deposits as well as withdrawals. It is immediately noticeable that CEX.io has ensured that you always have a particularly good overview of the functions. If you still have questions, you will always find an overview in the footer on the website, in which you will get an answer to the most frequent and important questions.
There are also some guides that explain e.B. how to enable 2-factor authentication. Furthermore, a help center is available, where a FAQ is available, you can make a written request here. There is also a separate area for the community. However, the community is not heavily frequented. Since increased security is already called for very intensively during registration, it is clear that security plays a major role for the broker Cex.io.
On its homepage, Cex.io notes that there has been no data loss of any kind to date. the platform of Cex.io is particularly available. This broker is based in the UK, and thus registered there. Since there is a well-known very well-regulated market for companies such as financial service providers and the like, one can assume that this broker must also comply with appropriate framework conditions. Basically, it can be assumed that Cex.io is a reputable provider that allows the purchase and sale of crypto currencies such as Ethereum. What are the fees?
With regard to the fees, the assessment is quite mixed. Deposits are free of charge. Withdrawals, however, incur quite high fees, unless you can give the payout in crypto currencies. Especially a transfer to the private bank account, which costs 50 dollars, we definitely find clearly too high.
Trading fees themselves are usually quite low, considering that fiat currencies can also be traded in real time. Trading fees are calculated according to each 30-day volume for the entire trading. Up to 5 trades incur 0.20% fees. With exactly 100 trades, it is less than 0.17 percent. Traders who execute an order several times a day, the fees are 0.1% percent, reaching 6000 orders a month.
