A profitable exchange of cryptocurrencies allows you to earn money when the exchange rates of the main digital coins are changed, but truly wide prospects open only on the exchange. Among hundreds of similar trading platforms, Kraken stands out as a project that offers low commissions for trading operations. In favor of choosing this particular crypto exchange, her age speaks: she has been working since 2011 and is one of the first bitcoin exchange exchanges. Its second important feature is the presence of liquidity (counter orders from other traders) and a large number of cryptocurrency pairs available for transactions. We talk about how to make money by exchanging electronic money on the Kraken exchange in this article.
Registration process and site interface
The only obvious drawback of Kraken for a Russian-speaking user is the not translated interface. However, the registration process is intuitive and without translation, and includes standard steps that are understandable to any user.
You need to specify an e-mail address, come up with a username and password. An e-mail with an activation code will come to the indicated mail, which you need to insеrt in the corresponding field of the form.
Immediately after logging into your account, you can familiarize yourself with the interface.
In order for cryptocurrency operations against fiat pairs to become available, you need to go through a simple identity verification process. That is, if you want to buy EOS cryptocurrency paired with USD or any other available crypto asset, you need to go through verification. There are three levels of confirmation in total:
For the basic option, just enter your address and contact phone number. The updated Kraken trading platform allows you to conclude transactions in just a few clicks of the mouse. On the left side of the screen there is a chart with the current cryptocurrency exchange rate, on the right – a trade control unit.
On Kraken, you can place orders with automatic closing when the specified price is reached. This solution greatly simplifies trading, and allows you not to miss the most profitable quotes for profit on open transactions.
Futures and Leverage
The ability to use leverage is one of the main arguments in favor of choosing Kraken as the main cryptocurrency exchange. The trader himself chooses a leverage from 1: 1 to 1: 5 for ordinary transactions. That is, buying 1 BTC for dollars will be equated to an equivalent transaction of 5 BTC, this will significantly increase profits (but along with the chances of making more money, the risk also increases), in addition, every 4 hours the exchange charges a fee for using leverage, therefore this decision is accurate not for long term trading.
But in the case of the use of futures (derivatives, based on Bitcoin and other cryptocurrencies) and the commission is much lower, and the available leverage is, on the contrary, increased to 1:50. Futures transactions allow you to earn more, but you need to understand that in this case we are talking about buying a derivative instrument that is traded only on this cryptocurrency exchange, and not the cryptocurrency itself.
The profit received and the initial deposit can be withdrawn to your account, taking into account the size of the daily limit. At the same time, it is not necessary to download wallets: you can transfer to the address of the exchange office directly from the exchange interface.
You can exchange bitcoin for kiwi rubles, Yandex money and other payment systems in just a few clicks of the mouse on Money-office.com.