“The reason we are all here is that the current financial system is outdated.” –Charlie Shrem
The amount of crypto exchanges is getting too high to count, and new projects are coming online everyday, but few have been online as long as the EURO conversion king Kraken. The Kraken exchange has been in existence since 2011, and originally came online to support the Mt. Gox exchange prior to the massive hack. Powell, the Krakens founder learned a lesson back then, and made it his project’s mission: security. Security first, and last. The development team made their focus protecting and ensuring the exchanges and customer assets were protected.
The Kraken project truly became an exchange for the masses in 2014 , and since then they have bloomed into one of the most trusted exchanges available. Kraken is most popular in Europe as they have run into some regulatory push back in the U.S. I will note that they have still stayed available for U.S markets, just not NY. Kraken holds the title for most EURO-BTC trades actively. Kraken has made it clear they are here to be a long term player in the cryptocurrency sphere and their actions show it.
Kraken is so dedicated to security that they have no insurance policies in place in the event of a hack. This no insurance model is a different path then the competition, and they say the reason is no current insurance would protect them or the assets in the event of a hack, so they would rather have bullet proof security.
The Kraken has also started to move into the privacy realm like Incognito offering dark pool transactions which make large purchases of BTC and ETH invisible, or hidden on the exchange ledger. In addition to the dark pools Kraken does offer an OTC exchange which can be viewed as a “like wallet service” because it functions as an off exchange service; offering peer to peer and personalized services. It is a clear point to be made that there is no wallet offered by Kraken at this time.
There is no doubt that Kraken is here to stay. Kraken has shown time and time again they believe in and invest for the long run of cryptocurrencies. They keep their projects not on blast, but have been outspoken against the bias their competition has shown. The Kraken crypto exchange has built an awesome reputation, and they have audits on a regular basis to ensure their assets match their balance sheet. The security is second to none and they are pressing the boundaries of the existing crypto markets. It will be very exciting to see where they go from here. Please check the links for more. And don’t forget to look at Kraken.com for more.
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