Well I’ve signed up and posted my first transactions to Kraken, and I’ve got to say I’m very impressed. I’ve used – and still use – Coinbase Pro. Coinbase did a great job of making cryptos easy, understandable and safe for the average user.
The avid crypto trader, however, will want more power than that offered by Coinbase, and will want much lower trading fees. Kraken slashes those in half – while giving you far more power in the bargain.
I wanted a way to short cryptos when I felt a market had gotten ahead of itself – or when I thought a crypto was essentially nothing but hype and doomed to fail. Kraken lets me do that. Other exchanges do as well, but most are closed to US investors.
My first interactions with the support desk were also a pleasant surprise. Coinbase users know that service leaves a lot to be desired in terms of wait times.
I’ve had to interact twice with the support team. The first time took only 3 minutes for a precise, problem-solving answer to a complicated technical issue. The second, sent in the midst of the market meltdown of the past week took much longer but ultimately resolved my issue. Here I had to wait 20 minutes. An eternity when you’re trying to put on a trade. But much better than most competitors in times of stress.