Establish your crypto exchange with a Kraken Clone

A cryptocurrency exchange holds a whopping $19 billion in Bitcoin (BTC) and Ethereum (ETH). Guess which one is that? It is none other than Kraken. Importantly, the American platform allows users to buy 95 virtual currencies. Besides that, investors can also access other services like staking, portfolio management, and also purchase tokens. Are you an entrepreneur with a huge interest in the digital economy? Develop a Kraken clone. 

How Kraken became a strong force in the crypto trading industry? 

Since its launch in 2011, Kraken has grown steadily. What is its Unique Selling Point (USP)? Users need not pay any deposit fee. Besides that, Kraken’s maker and taker fees are also negligible. 

Moreover, the California-headquartered platform provides other benefits like 24×7 technical support, multiple payment options, and an instant buying facility.
Besides that, the maker and taker charges vary as per the trading volume. Investors can manage their portfolios efficiently. 

They can make the right decisions by seeing charts and graphs. It shares updates about the changes in price, market movement, and trading volume. 

Analyzing the significance of the Kraken Clone

It is a prebuilt cryptocurrency exchange solution with features identical to Kraken. The Kraken clone acts as the one-stop destination for buying and selling crypto, swapping, initiate custom orders, and also monitoring investments round-the-clock. 

Our team at AppDupe utilizes advanced technologies to create a centralized trading platform like Kraken. Thus, you can deploy it instantly and attract retail and institutional investors.

How does a Kraken Clone function? 

• Users need to create an account on the centralized crypto exchange. They must enter details like email address, name, password, and country of residence. Investors can also choose the preferred language they want to trade in.

• Subsequently, the admin of the crypto trading platform approves their accounts after verifying their personal and financial information. 

• Moreover, investors can click the quick buy option, choose the specific cryptocurrency, see the current rates, and purchase it. 

• Consequently, users can make profits by clicking the margin trading facility. They can choose the leverage (5x and 10x), take short or long positions, execute market and limit orders, and receive high returns. 

• Are there any other options? Investors can hedge their spot trades by clicking the cryptocurrency futures button. Thus, they can enlarge their wealth by buying or selling digital assets at a future date for a certain price. 

• Thus, they will benefit from protection against inflation, flexible usage of collateral, safety against extreme market fluctuations and access to different trading pairs. 

• High-net-worth individuals (HNWIs) and institutional investors can execute large crypto orders seamlessly. They can click the Over-The-Counter (OTC) trading option and receive support from experts. Users get several advantages like availability of market insights, access to insightful opinions, 24×7 trading of both fiat and cryptocurrencies, and spot KYC/AML verification.

• What if users face any issues? They can contact the help center. Investors will receive support for problems like depositing of local currencies, verification of accounts, protection of data and funds against hackers and phishers, adding funds for trading assets, withdrawal of digital currencies from hardware and software wallets, receiving returns from margin trading and staking, and participation in parachain auctions. 

What are the key features of a crypto trading platform identical to Kraken?

Transaction History – Transparency is the hallmark of a Kraken clone. It stores details of all the payments made by users in the past. Thus, they can refer to it anytime to resolve discrepancies. 

Real-time portfolio tracking – Interactive charts and graphs help investors keep a close watch on their portfolios. They receive updates about their balances, allocation across different virtual currencies, ups and downs in prices, and expected returns over a period. 

Leaderboard – It shares details of the total market capitalization of each cryptocurrency, the top gainers, losers, and traders who make hefty profits. Users can analyze this quantitative and qualitative information and add certain assets to their watchlists. Subsequently, users can buy or sell crypto assets based on market conditions. 

Indices – Investors can earn more income by viewing data from indices. Information from the leading cryptocurrency exchanges is aggregated and displayed. They can view details like the spot rates of various cryptocurrencies, the changes in prices over the last few days, and the level of risk. Eventually, this helps small, as well as large investors to handle their portfolios and protect themselves from market manipulation. 

Staking facility – Users get rewards by staking their fiat and cryptocurrencies. They can maximize their returns by using the compounding mechanism. Investors can buy digital currencies and also fund their accounts with certain virtual assets. They can press the staking option after seeing details like the name of the crypto token, yearly rewards, and whether it exists on-chain or off-chain. 

What are the security measures available on a cryptocurrency exchange like Kraken? 

Revoke access – Users can prevent misuse of their funds and personal data. They can tap the revoke access button if they lose access to their account. 

Biometric authentication – Crypto investors can thwart hackers and phishers by using biometric authentication. This is a viable alternative to passwords and PIN codes. 

Two-factor authentication (2FA) – Crypto holders can secure their account by using two-factor authentication. Thus, they have to enter their private keys and a one-time password (OTP) while transferring funds. 

Other measures – Investors can safeguard their crypto assets by using options like SSL encryption, time-lock when they do not use their account, email confirmation when they withdraw funds from their wallets, and Pretty Good Privacy (PGP) for secure communication. 

Wrapping Up

Unquestionably, Kraken is a reputed platform in the crypto trading industry. Want to begin a decentralized financial revolution? Reach out to us now for creating a state-of-the-art Kraken clone. 

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