What is Kraken?
Working on the lines of a stock exchange that facilitates stock trading, San Francisco-based Kraken is a cryptocurrency exchange where market participants can trade the various cryptocurrencies. The participants are allowed to buy or sell the cryptocurrencies using various fiat currencies, that include U.S. dollars, Canadian dollars, euros, and the Japanese yen. Kraken was established in the year 2011, and it formally launched the trading operations in 2013. It is owned by Payward Inc. and is headed by CEO and co-founder Jesse Powell. It provides the easy movement of money to and from the linked bank accounts of the participant, and the movement of cryptocoins to and from the participant's digital wallets from Kraken-linked trading accounts.