If you’re in the UK and looking for a trusted cryptocurrency exchange, Kraken might be right for you. It offers a robust trading platform with competitive fees for both spot and margin trading. However, a few features like opt-in rewards and fiat P2P transfers are limited for UK users. Read more theinvestorscentre.co.uk
In order to trade on Kraken, you must pass KYC and have a US or Canadian bank account. You must also provide proof of identity and residence. The more information you provide, the higher your level of security on Kraken. You can choose between Starter and Stater levels of security, with the latter requiring more verification information including what you do for a living, social security number (for US users), face photo, government-issued ID (such as passport, drivers licence or national identification card) and address proof.
Kraken Fees UK: How Much Does It Cost to Trade
While both Kraken and OKX offer fiat deposit methods, Kraken has a higher rate of acceptance. Moreover, the latter doesn’t have a limit on how much crypto you can buy with a single transaction.
While both Kraken and Coinbase have solid security track records, Kraken’s assets are stored in guarded air-gapped cold storage. The platform also has strict surveillance and audits to prevent hacking and money laundering. It also participates in global intelligence-sharing initiatives and chairs the National Crime Agency’s Crypto Currency Working Group to strengthen its response to crypto-related financial crimes. In addition, the platform supports two-factor authentication and Pretty Good Privacy encryption for online correspondences with it.
