Kraken
In brief: Kraken is another very good choice for us in Hawaii. They have come a considerable long way in development since its founding in 2011. There was awhile there when we may not have recommended them due to their clunky interface only accessible on a browser. However, since then they have redesigned most of their platform and also introduced a very gorgeous user friendly Kraken app for mobile. Issues I've had with them in the past no longer seem relevant and so I feel comfortable again to recommend them with high praise.
PROS:
Safety
- It's interesting to point out some of Krakens security measures. They state "not only does Kraken offer safe coin storage, with 95% of deposits held offline in cold storage units spread across the world, but it also promises platform security: It's servers are kept in secure cages under 24/7 surveillance by armed guards and video monitors." You can't ask for much more than that. Regardless of how big the exchange might be.
- Though Kraken claims to have never been hacked, it is always a good habit to store your crypto off line.
- They do require KYC and 2FA (two factor authentication) when signing up.
Customer service:
- They have just about the same level of customer service as you may expecte with a large exchange. In times of high volume trading on their exchange, their "live chat" can have you waiting for long periods of time.
- One thing I will note is their Phone Support: +1 (855) 777-7603 Monday to Friday from 6AM to 6PM EST I've personally not had a reason to call this number but the fact its an option in terms of customer support is definitely unique in the crypto space.
- Otherwise it's the typical "live chat support" or submitting a ticket for issues requiring more finesse.
User Experience:
- As mentioned above, they've come a long way. Especially this year. I won't go into what it was like before as it's no longer relevant but the mobile app in particular really makes buying crypto fun an easy.
- Light theme and dark theme
- 91 and counting possible cryptocurrencies to buy and trade check out the list here.
- Margin trading (for experienced traders only please)
- They also offer staking with select crypto
Conclusion: Kraken was one of the first exchanges I've ever used here in Hawaii. More or less, this is the exchange I learned to trade cryptocurrencies. Full transparency, in the past Kraken has been known for a flash crash or two. Regardless of how likely this is now, I would be doing you a disservice had I not mentioned it, regardless of any positive biases I have toward the exchange these days. If I was talking about a human, I would be saying "Wow! he really seems to have gotten his act together. And in a big way. I am proud of him!"