Over the years, Kraken has become one of the most used crypto exchanges. This American cryptocurrency exchange, founded in 2011, works in many countries, including Saudi Arabia. It is a sophisticated exchange for experienced investors and traders.
Best Features of Kraken
Futures
Kraken Futures is an advanced cryptocurrency market that allows you to trade with increased leverage. While futures trading can be risky and complex, making it unsuitable for most investors, Kraken is one of the few platforms offering crypto futures markets for those interested in this type of trading.
Customer Service
Kraken’s customer service is exceptional for the industry. The crypto exchange offers round-the-clock live chat support. Additionally, Kraken offers phone support, with current wait times averaging around one minute. The level of customer support users get depends on their account type. Beginners’ accounts enjoy a basic FAQ section and chat support. Pro accounts have dedicated one-on-one support.
Security
Kraken employs industry-leading security measures, with over 95% of all deposits kept offline in cold storage crypto wallets. Some of these security features are two-factor authentication (2FA) and PGP-signed and encrypted email communication. Kraken regularly performs platform penetration testing through its dedicated expert security team.
OTC Exchange
Kraken’s OTC exchange provides deeper liquidity and a private, personalized service for institutions and high net-worth individuals needing to execute large orders (starting at $100,000) that could be too disruptive if placed on open markets.
Final Words
Kraken has made a name for itself in the crypto world. It works in different countries, including Saudi Arabia. Some of the best features users in Saudi Arabia enjoy are OTC Exchange, futures, impeccable customer support, etc.
Frequently Asked Questions
Which Cryptocurrency Exchange is Best for Beginners?
Cryptocurrency exchanges like Coinbase and Binance are ideal for new crypto users and traders.
What is the Difference between a Crypto Exchange and a Crypto Brokerage?
A broker offers indirect trading as it acts as a middleman between traders and the market. Also, a crypto brokerage offers leveraged trading. On the other hand, a crypto exchange acts as an intermediary between traders themselves.
Does Kraken offer Margin Trading?
Yes, Kraken offers margin trading.
Does Kraken offer Staking?
Yes, Kraken offers staking to its users.
Which Bitcoin Wallet is available in Saudi Arabia?
Some of the wallets crypto users in Saudi Arabia can use to store their cryptocurrencies are Zengo, Ledger Nano S Plus, etc.
Is Crypto Trading allowed in Saudi Arabia?
Yes, crypto trading is allowed in Saudi Arabia.
What Countries can use Kraken?
Some of the countries that can use Kraken are Saudi Arabia, the United States of America, South Africa, Sudan, Japan, Cuba, Australia, etc.
Does Kraken require KYC?
Yes, Kraken needs KYC before you can fully access your account. This helps prevent fraudulent crimes and terrorism.
Which Country does Kraken belong to?
Kraken is for the United States of America.
Does Kraken Support Multiple Languages?
Yes, Kraken offers multiple languages. Some of the languages that will be used in the exchange are English, French, Spanish, Portuguese, etc.
