Kraken is a world leader in bitcoin/euro exchange. Besides euro, it works with other fiat currencies: Canadian/US dollars, British pounds and Japanese yen. Kraken positions itself as “the best bitcoin exchange” and indeed, its system is sharpen better for bitcoin trading. Despite this fact, owners of other cryptocurrencies are also welcomed to this platform. There are more than 50 trading pairs, mobile app, API and comprehensive knowledge database available for its users. A specific characteristic of Kraken exchange is its verification process. Every user should be verified for being admitted to trading activities and this verification is proceeded in 4 tiers. Consequently, your deposit and withdrawal possibilities will grow with every completed tier.
The Kraken fee schedule also goes in tiers, but here we speak about trade volume tiers. It works by the following rule – the more total volume you trade, the lower fees you receive. Kraken developed a schedule for every trading pair, but these schedules are almost the same for all of them. You will be charged on a per-trade basis and fees will be usually calculated as a percentage of the trade's quote currency volume. As regards withdrawal fees, Kraken processes them in accordance with another, fix schedule, which doesn’t have tires.Here you will pay a fix amount of currency you want to withdraw. For example, for bitcoin withdrawal you will pay 0.001 BTC and for ether one - 0.005 ETH.