Just closed everything from coinbase and their wallet. So many errors saying they are working on it and too many funds on hold when you want to move them. Even the Kraken pro mode was easier for me to understand. I did not like Coinbase and I think I'm going to be very happy with Kraken. As for my 2 cents ,,,heres my 2 crypto's of opinion. SOO many reports of coinbase doing what they did to me.

This acquisition expands our regulated derivatives offerings for advanced crypto traders across Europe.

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We’re excited to announce we have obtained a Markets in Financial Instruments Directive (MiFID) license in the EU. The license was obtained through the acquisition of a Cypriot Investment Firm, which was recently approved by the Cyprus Securities and Exchange Commission (CySEC).

This milestone marks a significant step in our expansion strategy, allowing us to offer fully compliant and regulated derivatives products to advanced crypto traders across selected EU markets.

The newly secured license reinforces our commitment to meeting the growing demand for secure and regulated crypto derivatives trading in the EU. In the coming months, we will work on meeting the conditions to go live and launch the products in local EU markets. 

“As we continue to expand our services across the globe, our focus on the European market remains a top priority,” said Shannon Kurtas, Kraken Co-GM of Pro & Exchange. “This acquisition reflects our confidence in the EU and underscores our commitment to providing a trusted, regulated environment for advanced crypto traders and investors.”

This offering allows advanced traders to gain exposure to a wide selection of assets in a capital-efficient and flexible manner, using a variety of collateral currencies to back their positions.

As one of the most active regions for crypto derivatives trading, Europe represents one of our key growth markets. The ability to offer regulated and fully compliant derivatives products from an EU-regulated base aligns with our strategy of expanding our offerings to meet the evolving needs of sophisticated investors.

We have been at the forefront of unlocking advanced, regulated trading opportunities for advanced and institutional investors. In 2019, we acquired Crypto Facilities, a U.K. FCA-regulated crypto futures platform, which later became the first licensed crypto futures platform in the U.K.

We remain committed to setting industry standards for security, innovation, and compliance while delivering best-in-class trading experiences for our growing EU client base.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorised to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here.

Win up to $88,888 USDT in the Lunar Trading Championship 🐍

https://preview.redd.it/g1u53ku28yge1.png?width=1201&format=png&auto=webp&s=f220db16692bdc2baca60a3ba4d804fd469053e9

Compete for a share of up to $88,888 USDT! This will be split between the top 10 winners which means bigger prizes than most competitors. First place can win up to $18,888 USDT to start the new year!

Winners are based on PnL(%) for a fair competition, where any trader can ultimately win if they trade well over two weeks. This is the ultimate game of skill.

Trade across 340+ futures markets including $BTC, $SOL and $TRUMP. Full Chinese language support across both web and mobile trading interfaces for seamless access.

Key details:

• Prize pool: Up to $88,888 USDT
• 1st place: Up to $18,888
• 2nd place: Up to $12,888
• 3rd place: Up to $8,896
• 4-10th places: Up to $6,888
• Duration: 2 weeks

Register here: https://krakenpro.onl/9f1e/competition

*Geographic restrictions apply

Not eligible this time? Stay subscribed to our socials to know when the next global competition is.

Discover how crypto staking works, its benefits and the different types available. Learn how to earn rewards while supporting blockchain networks today.

Key takeaways 🔑

1. Crypto staking allows holders of specific cryptocurrencies to earn rewards by validating transactions on a blockchain network, without selling their assets.
2. Staking rewards are typically denominated in the same cryptocurrency deposited for staking.
3. Although staking rewards may be likened to the interest you earn in your savings account, staking works differently than lending and carries different risks. You should consider these carefully before taking part. 
4. There are different types of staking protocols used by different blockchain networks, including proof-of-stake (PoS) and delegated-proof-of-stake (DPoS).

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Intro to crypto staking 🔍

Cryptocurrency staking is a process that allows token holders to earn rewards for helping to secure a proof-of-stake (PoS) blockchain network.

Like many aspects of the crypto ecosystem, staking has some unique features and considerations you should review before getting started. 

Understanding these can help you make better informed decisions when it comes to your crypto and the possibilities that staking unlocks.

In this guide, we’ll explore what crypto staking means, how it works, the various types of staking that exist as well as its associated benefits and risks.

Sign up

How does crypto staking work? ⚙️

Crypto staking allows holders of specific cryptocurrencies to earn rewards for helping to validate blocks of transaction data as it is submitted to the blockchain network.

The staking process serves two key purposes:

• Ensures the accuracy of new information as it is added to the blockchain.
• Helps secure the underlying blockchain network against the majority of the network taking over control, known as a 51% attack.

The staking process uses incentives and penalties governed by computer-based rules to encourage honest participation in the network. 

Stakers who act within the rules of the protocol receive rewards for their contributions, while those who act dishonestly can face penalties, such as losing their staked cryptocurrency through a process called slashing.

Staking rewards are distributed as newly-minted cryptocurrency units, oftentimes at a proportionate rate to the amount a person stakes. 

With some proof-of-stake blockchains, depositing more assets in a staking smart contract increases the chance of being selected to validate blocks. 

This mechanism is based on the assumption that those with more “skin in the game” are more likely to act within the best interests of the network because they have more to lose financially if their assets are slashed (confiscated by the network). 

However, to avoid favoring wealthier participants, some protocols incorporate randomness to ensure everyone, including those with smaller stakes, has a chance to earn rewards.

What is proof-of-stake? 🤔

Proof-of-stake is a type of blockchain consensus mechanism that allows holders of specific cryptocurrencies to validate transactions and earn rewards by staking their tokens (depositing them into a designated staking smart contract).

Unlike proof-of-work (PoW) blockchains that rely on energy-intensive mining, PoS blockchain protocols require validators to purchase and “lock away” a number of tokens to participate in the block validation process. 

While each PoS blockchain has its own approach to selecting validators, most use an algorithm to determine who will verify the validity of data in a new block.

Once selected, validators are tasked with verifying transaction and smart contract data, upholding the blockchain's integrity.

Many PoS protocols require a minimum amount of tokens to run validator software. For example, the Ethereum blockchain requires a minimum of 32 ether (ETH) to begin staking on its network — though external liquid staking protocols exist to greatly reduce this expensive barrier.

Delegated Proof of Stake (DPoS)

Delegated proof of stake (DPoS) is an advancement of the original PoS method. 

In DPoS, validators can select delegates—also known as witnesses or block producers—to maintain a staking node and validate blocks on their behalf. Delegate staking operators often charge fees or retain small percentages of the staked assets they generate.

In this scenario, delegate staking operators often attempt to attract stakers to entrust them with their assets by offering more favorable fees than their competition.

By reducing the number of validator nodes, DPoS aims to improve energy efficiency and increase transaction validation speed compared to traditional PoS. However, critics argue that DPoS blockchains are more centralized, as only a limited number of delegates handle transaction validation.

A prominent example of a DPoS blockchain is the TRON network, which serves as a platform for decentralized applications (dApps). Thanks to its DPoS implementation, TRON reportedly processes transactions faster and with lower fees compared to other PoS-based blockchains. It relies on just 27 delegate block producers, dubbed “Super Representatives,” to manage the Tron blockchain’s validation process.

What are slashing penalties in staking?

If a block validator acts dishonestly, their behavior may undermine the network, causing users to lose trust and potentially leading to a decline in the value of the cryptocurrency. 

To counter this, proof-of-stake blockchains incorporate penalties for malicious behavior, known as “slashing” penalties. 

Slashing results in the partial or complete confiscation of a validator’s staked tokens if the protocol determines they have acted dishonestly.

Proposing invalid blocks and excessive downtime are among the main reasons for slashing penalties in PoS protocols.

Why stake cryptocurrency? ⭐️

Staking offers those who hold specific cryptocurrencies a chance to actively participate in blockchain networks.

Why would someone choose to do this? Here are some key reasons:

• Earn rewards: By staking your digital assets on a proof-of-stake (PoS) blockchain, you can earn rewards on your crypto holdings over time.
• Support their favorite blockchain networks: Many crypto holders view staking as a way to support the projects they believe by contributing to their network’s security.
• Ease-of-use: Staking can serve as an easy set-it-and-forget-it method for earning rewards on your crypto, making it accessible to everyone.

Start staking

Types of staking 🧬

Crypto staking includes various methods, each with its own mechanisms and advantages. Understanding these different types can help you choose the best staking strategy for your needs. 

Here are some common types of staking:

• Direct staking: Involves staking your tokens directly on a blockchain network, allowing you to participate in the consensus process and earn rewards.
• Staking pools: Cryptocurrency holders pool their funds together to form a single staking node. This helps increase the chances of earning rewards and improve accessibility to blockchain’s that have minimum staking requirements. Rewards are divided among pool members based proportionally on their contributions.
• Delegated staking: Stakers can delegate their staking power to a validator node managed by someone else. Rewards are shared between the validators and the delegators.
• Exchange staking: Cryptocurrency exchanges offer staking services, allowing users to stake their assets directly. The exchange handles everything and distributes the rewards.
• Liquid staking: Users receive representative tokens for their staked assets, freeing up liquidity. These representative tokens can be deployed in other DeFi protocols to potentially earn additional rewards, providing concurrent rewards from a single amount of staked assets.

Additionally, staking can be custodial or non-custodial. In custodial staking, you transfer your tokens to a platform. In non-custodial staking, you keep your tokens in your digital wallet.

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How are stakers selected? 🤝

In proof-of-stake (PoS) protocols, validators are chosen to create new blocks based on several criteria. While this primarily focuses on the amount of cryptocurrency they stake, many blockchain protocols also consider other factors beyond the number of coins staked alone.

Staking wallet balance

The more cryptocurrency a validator stakes, the higher their chances of being selected to validate a block of transactions. However, protocols also introduce a degree of randomness to ensure that those staking smaller amounts have an opportunity to earn rewards.

Randomized block selection

To maintain fairness, some PoS blockchains use different cryptography-based techniques to create randomness in the selection process. These considerations ensure that all participants have an opportunity to earn rewards for validating transactions.

Coin age

In some instances, stakers can increase their chances of being chosen by staking their tokens for longer periods. This concept, known as “coin age,” is calculated by multiplying the number of staked coins by the number of days they have been staked. 

The longer the tokens are staked, the greater the likelihood a validator has of being selected in the future. When a node successfully validates a block of transactions, its coin age resets.

What are the advantages of crypto staking? ✅

The main advantage of crypto staking is the chance to earn rewards on your holdings. When you stake your cryptocurrency, you can make money without needing to sell your assets, providing a way for crypto holders to earn passive income. This can also be part of a long-term investment strategy, encouraging people to keep their assets in the network, which can help stabilize prices.

Additional benefits include:

• Lower investment costs: Staking doesn’t require a large upfront investment in expensive mining equipment, unlike proof-of-work (PoW) systems. Proof-of-stake (PoS) protocols can run on standard computer GPUs, making it easier for more people to participate.
• Energy efficiency: PoS uses significantly less energy than PoW blockchains, which helps reduce a network’s overall environmental impact.
• Protection against inflation: Staking can potentially help protect against inflation, as holders in certain countries may be able to grow their crypto holdings and outpace general inflation rates.
• Active network support: Staking lets users actively support the blockchain network. Stakers can participate in the consensus process to strengthen the networks they believe in while earning rewards for their contributions.
• Governance participation: In some cases, stakers can have a say in governance decisions, allowing them to influence the project’s direction.

What are the risks of staking crypto? ❌

While staking can offer rewards, there are several risks to consider before committing your crypto to a protocol:

• Network risks: If the blockchain experiences issues, such as bugs or vulnerabilities, it could affect the safety of your staked assets.
• Slashing penalties: If a validator or delegate staking operator behaves dishonestly or fails to perform, stakers may lose part, or all, of their staked assets.
• Market volatility: Cryptocurrency values can fluctuate dramatically. Even if you earn rewards, the overall fiat value of your holdings can decrease depending on market conditions.
• Lack of control: Staking your assets means you may have less control compared to holding them in a wallet. You're relying on the protocol and its governance.
• Regulatory risks: Changes in regulations may impact staking practices or the legality of certain staking methods, affecting your ability to stake or the rewards you earn.
• Compounding risks: Some staking systems offer compounding rewards, which can increase your risk if the market drops, as more of your assets are locked in.
• Opportunity cost: Staking locks up your assets, preventing participation in decentralized finance (DeFi) protocols, purchasing non-fungible tokens (NFTs) or actively trading in the market.

The overarching risk is the requirement to lock up your staked coins for a specific period. With many platforms, during this lockup, you won’t be able to access, transfer or sell your crypto.

If the market price of your staked coins drops significantly, your losses might outweigh the earnings you gain from staking. However, Kraken’s staking program allows you to stake or unstake most crypto assets at any time, with flexible lockup periods.

Stake with Kraken

How to start staking crypto 🧑‍💻

There are several ways to stake your cryptocurrency. You can stake directly from some digital wallets, with decentralized finance services or directly with the protocol itself.

However, most choose to stake their tokens with trusted staking providers like Kraken.

Step 1: Buy staking assets

The first step to staking cryptocurrency is to purchase the native cryptocurrency used by the PoS protocol. Some of the most popular staking cryptocurrencies are ETH, SOL and ADA. You can buy these staking assets and more using Kraken or other crypto platforms.

Step 2: Stake directly from the exchange or transfer your crypto

Many cryptocurrency platforms like Kraken have staking programs available for you. If you purchased your staking assets from Kraken, you can get started staking immediately. You can stake your crypto with just one click on Kraken or the Kraken Pro mobile app.

If you want to use a different staking service, you will need to transfer your assets to a crypto wallet or third-party service that supports staking.

Step 3: Start earning rewards

Commit your assets to a staking program to start earning rewards. Keep in mind that some assets may require a bonding period before they start generating rewards.

Start staking crypto with Kraken

Now that you understand the ins and outs of crypto staking, perhaps you ready to take the next step in your crypto journey? Kraken allows you to stake a variety of cryptocurrencies, providing an easy way to earn rewards while supporting the network.

Interested in staking? Visit our Kraken Learn Center for guides on crypto, and sign up for an account with Kraken today.

Get started

Disclaimer: These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.

A lot more plans but this was the one I’m most excited for, I lost over 800 dollars of Binance Wrapped Bitcoin thinking it was BTC a while back when I transferred my funds to Kraken, and they told me they don’t support the Binance network, thank god they’re finally doing something about it.

Just received this email and wanted to be sure if is true:

After careful consideration, we made the difficult decision to proceed with the removal of USDT, EURT, PYUSD, UST and TUSD for customers in the European Economic Area (EEA)

Hi,

I need to transfer a very precise amount from Kraken Pro to my company bank account but I see there's a 1€ fee. If I want to exactly receive 2000€ on my bank account, what should I type in the withdrawal window, 2000€ or 2001€?

Thanks.

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🐍 Happy Chinese New Year – to all that celebrate!

For those looking to start the new year with fortune, we'll be launching our Lunar Trading Championship on February 3rd. Top 10 traders will win prizes of up to $18,888 USDT!

Details on the competition and eligibility:

Blog link: https://k.xyz/lunartradingchamp

*Geo restrictions apply

Hi, I'm new to crypto and have opened a Kraken account to dip my toe in the water. I've purchased £300 of coins (70% BTC 10% XRP 10% ETH 10% SOL). My question is do I need to get a wallet to store my coins or do I just have them sat in my Kraken account? If I move them to a wallet how do I track the value gain/loss and how do I trade? I'm relatively savvy with investing with my S&S isa, pension etc. but a bit unsure with getting into crypto. Thanks.

I enjoy the kraken platform but find it seriously annoying having to use another just to use hbar.

Are you guys going to add Hedera/HBAR to your pairings.

Many of us don't bother with futures.

C'mon, you know you want to....

Why does Kraken take 10 Minutes to send my Sol to my Phantom wallet? Its soooo slowwwww.

Crypto is no longer just for trading. With Kraken Pay, you can use 300+ crypto assets to pay your friend for last night’s dinner or send money to your family overseas. It’s time to free your crypto.

https://preview.redd.it/35m4i7hixyfe1.jpg?width=1535&format=pjpg&auto=webp&s=582bf0d811013e41e9846636bc1bab7e92080b43

Photos, videos and data move at the speed of a click, yet moving money can take days and is costly, especially when transacting across the world. But why?

Shouldn’t moving your money be as easy, cheap and instant as sending a text message or a photo to a friend? Introducing Kraken Pay — a new way to send money to anyone, anywhere, utilizing all the assets you have in your Kraken account.

Free your crypto with Kraken Pay

Sending payments just became cross-border and multi-currency

From the Americas to Asia, from DOGE to dollars, choose from 300+ fiat and cryptoassets to send to anyone, anywhere in the world for free.

Simply choose the fiat or cryptocurrency in your account you want to send and Kraken will instantly send the payment to your recipient.

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The process takes seconds and is free. Better yet, if you only have Bitcoin but your friend only wants Swiss francs, Kraken will manage both the asset conversion and settlement transfer in one step.

This means all you have to do is choose an asset from your account and then choose which asset your friend wants to receive.

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Text crypto to your friends 

Sending payments  is as easy as sending a text using a paylink. A paylink is a simple and secure URL that can be sent using any messaging service, like SMS and WhatsApp. The recipient simply clicks on the paylink to accept payment.  

If your friend or family member doesn’t have a Kraken account, you can still send them a broad range of fiat and cryptoassets using a paylink. All they need to do is set up a Kraken account after clicking on the paylink, and with a couple easy steps they can claim the funds.

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Claim your customizable Kraktag today

Moving cryptoassets across your social circle has not been easy, until today: Your Kraken Pay u/Kraktag makes it so. A u/Kraktag is a simple and secure unique identifier for Kraken Pay users. Use it to send and receive payments — either in crypto or fiat currency.

Your friends and family can simply enter your designated u/Kraktag to send payments instead of needing to enter your full bank account details. No two u/Kraktags are the same and you can customize your u/Kraktag so that loved ones can find you in the Kraken App.

https://preview.redd.it/a837gzosxyfe1.jpg?width=1024&format=pjpg&auto=webp&s=f29d2641a3c5511585918637b66700ded83a3896

Get Kraking and turn your crypto into payments today

Kraken Pay is available for Kraken clients now! Choose from 300+ fiat and cryptoassets and send payments to anyone, anywhere in the world for free.

Free your crypto with Kraken Pay

Geographic restrictions apply. Instant buy/sell fees apply when you convert one asset or currency to another when making a transfer. Please see our fee schedule for more information. Applicable fees will be shown before you make a transfer.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorised to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here.

Hi I was wondering why I can't stake XCN Onyx in the kraken pro app. I know you guys made it available today but I don't see XCN available in rewards.

Hi, I'm looking for a slick trading journal that syncs with Kraken Pro, and has a great UI and UX.
I've tried Tradersync and Tradesvis, both very poor and chunky/unappealing to me.

I tried looking for a trial with Tradezella but they don't offer trials as far as I know?

Anyone got a great journal that connects to Kraken Pro they can reccomend? Happy to pay monthly if needed, so please send some great options through.

Thanks in advance.

I would like to see average purchase price in the portfolio. I have to click twice on each trade to finally see the purchase price. It is so difficult to know if I have a profit or not.

So, I unexpectedly had to raise some funds tonight. This meant moving my crypto from my cold wallet back to Kraken, selling the crypto then moving the raised funds back to my bank account. I was able to do this all in under 10 minutes and the proceeds have just landed in my bank. Dear Kraken, thanks for providing such a quality service. I've been with you for just under a year and have to say all my dealings with you have been very positive and this is just another positive experience. I never got into crypto with the intention of selling out but it's great to be part of an exchange that makes things all the more easier when your Investment thesis changes unexpectedly. Some of you may downvote this post as your experiences may differ from mine but for me it wss important to pass the positive feedback as so very often we are so quick to spread negative feedback when stuff goes wrong that we forget to spread the positive feedback when things go well. Kudos Kraken!

Down 99% from ATH, runs on Solana and has a 4% circulating supply. Thoughts?

Good morning, fellas

I’m new to crypto and was wondering if there’s a way to move my crypto from my crypto.com account to my kraken account. Did some googling but there were a lot of terms my nooby head couldn’t get around so I decided to give it a shot here. Thanks in advance!!

At the moment, I’m using Litecoin for nearly day-to-day transactions due to its low fees. What coins do you all use?

Sorry if this is a dumb question. Do I have to basically download it, transfer everything and input all my info as I did w Kraken? Seems as if it's better w lower fees and better charting capabilities. Previously I had Kucoin, which was a bit over my head but I was able to navigate and even move funds out of there before their deadline. Thanks 🙏 in advance! I wish prosperity for all here!

Is there any subreddit dedicated for Ink Chain or we can use r/Kraken for Ink Chain related posts?

Happy Inking ✍️🐙

Key takeaways

1. Memecoins are cryptocurrencies that pay tribute to memes, celebrities, animals and viral internet trends.
2. Successful memecoin trading requires thorough research to avoid scams, careful evaluation of community strength and liquidity factors, and adherence to best practices for risk management.
3. To minimize risk, some traders focus on higher-cap memecoins listed on reputable exchanges, and use tools like Dex Screener to audit token contracts and holder distributions.

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A trader's guide to memecoins 💻

Memecoins, though often launched as such, are no joke. 

On the surface, these lighthearted projects with seemingly no utility may seem fundamentally useless. In reality, they make up billions of dollars’ worth of market capitalization, bringing together global communities of millions of users who rally around a shared vision.

As memecoins live and die on their memetic appeal and community spirit, they’re highly volatile — even compared to other cryptocurrencies. As such, caution must be exercised when trading them. 

This article will outline the best practices for doing so.

Where to trade memecoins 📍

Unsurprisingly, memecoins like Dogecoin (DOGE), Pepe (PEPE) do not originate on centralized exchanges, but often find their way there after gaining significant traction.

Instead, these tokens are more commonly found on blockchain networks like Ethereum and Solana, and traded on decentralized exchanges like Uniswap and Jupiter. Anyone can access these trading venues with a non-custodial wallet such as Kraken Wallet.

Download Kraken Wallet

How to trade memecoins on centralized crypto exchanges 📝

As touched on above, Kraken boasts a wide selection of popular memecoins, which can be traded just as easily as any other asset. You can perform direct cash-to-crypto swaps in a few clicks, or set up more advanced orders (such as recurring buys or limit orders) with ease.

At the time of this writing, Kraken supports 20+ popular memecoins, including:

• Dogecoin (DOGE)
• Shiba Inu (SHIB)
• Pepe (PEPE)
• Bonk (BONK)
• Dogwifhat (WIF)
• FLOKI (FLOKI)
• SPX6900 (SPX)
• Popcat (POPCAT)
• Mog Coin (MOG)
• Gigachad (GIGA)
• Peanut the Squirrel (PNUT)

To get started, all you need is a Kraken account and as little as $10. 

Create an Account

Key considerations for memecoin trading 🧐

As with any investment, doing your own research (DYOR) is strongly recommended prior to diving into any memecoin trade. Granted, this can be difficult with many, due to a lack of available resources for newer projects.

Remember that memecoins rarely have any utility. Instead, they gain value based on the popularity of the meme and an active community behind them, who act as de facto marketers — taking to social media platforms to share memes and content about the project in hopes of attracting new investors.

This dynamic underscores the need for caution: with the tools available today, it’s easy for bad actors to ‘astroturf’ on social media — making it appear as though the community is much larger than it is. To audit a project yourself, you’ll want to spend some time in its community hangouts (X, Telegram, Discord) to get a feel for its strength. 

An example of a potential red flag is an LP (liquidity provider) token that hasn’t been burned. The renouncement of this token is a good faith gesture that the developer will not rug pull its users, which can provide a degree of confidence in the project. More on this in the next section.

For more information on rug pulls, check out our Kraken Learn Center guide, How to stay safe in DeFi.

A tool like Dex Screener or Birdeye can provide valuable insights prior to purchase. Some important things worth checking out include:

• Holder distribution: a single entity holding the majority of the token supply is risky, as a sudden sell-off could cause prices to crash.
• Website and socials: take a look at the project’s Telegram group and website to gauge the (organic) community support for the token.
• LP status: as mentioned earlier, has the LP token been renounced? If it hasn’t, the developer could drain the liquidity pool at any moment.
• Token contract: can new tokens be minted (diluting the existing supply) or frozen (preventing users from selling)?

Managing risks in memecoin trading 📚

Unfortunately, the memecoin space is rife with scams that can catch out even the most seasoned traders. 

Risk can be mitigated, to a degree, by sticking to higher-cap offerings listed on reputable exchanges: the exchange is likely to have performed its own assessment of the project prior to listing, and the memecoin is probably established enough that the actions of a single bad actor may not massively impact it. This does not, however, protect it from unexpected exploits or reputational damage that could cause the price to tank.

For non-listed memecoins, risks range from deliberate, malicious rug pulls to simple lack of interest from users. The end state is the same for both cases: following a sharp decline in price, a lack of liquidity makes the tokens untradable. 

The former is a common scenario with tokens launched by coin creators with no prior reputation. Launching a token requires no technical skill due to the availability of off-the-shelf tools, making it easy for bad actors to spin up these scams. Again, an LP burn can signal to the community that the developers are committed to the project, as they cannot withdraw liquidity without the LP token.

Tips for successful memecoin trading 📖

Memecoins are highly volatile assets in an already volatile market. Predicting their trajectory is impossible, as even the most promising projects can fail due to wider trends in the financial/crypto markets.

As such, any investment should be undertaken with an understanding of the very real risk that the coin could lose the entirety of its value. Many recommend against placing all of your eggs in one basket, instead diversifying across other cryptocurrencies and financial assets in case of loss.

Identifying successful memecoins requires time and immersion in the crypto space — ideally via Twitter and Telegram groups. This will allow you to identify interesting projects early and to catch them prior to widespread adoption.

Interested in learning new ways to trade memecoins? Check out our Kraken Learn Center guide, Crypto trading strategies you need to know.

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Disclaimer

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.

Hi all!
Merica here!
I am wondering if staking will return to Kraken's USA site any time soon?
I had not figured to ask, but since the recent change in the US's stance on crypto in general via executive order, I have renewed hope that this may be a possability.

Staking on Kraken had gone very very well for me up until around 2021 if memory serves, but then after the ban, I have been a bit scared to stake elsewhere.

Thanks for any updates on this situation!

I've currently got some TRX sitting in Binance, but was thinking of moving them to Kraken..

• What is the safest/cheapest process of doing this?
• I presume moving crypto will not result in any Capital Gains tax (UK)? Provided I dont convert away from TRX..?
• Are there any reasons why I should leave them in Binance?

My bank has recently told me that transactions to purchase crypto with their card is forbidden.. seems crazy that I can’t spend my money how I want too!! but anyway, is there any UK crypto friendly banks? As I’m wanting to start DCA into Bitcoin thanks :)

i want buy different type of meme coins can i buy for less then 10$ or i need to buy each coin for 10euro ?

I read online that in it's history Kraken decided to focus on North America market? Therefore was this not previously the case. Did it start as something else?

I am interested in the development of the crypto space as a regulated market. Yet we all know Crypto is international. Therefore, major companies rise not only in the US but abroad as well. For instance Binance, Crypto.com: those are Asia based. As Crypto companies rise at a rapid pace, those companies that have a competitive operation in the North American market are the ones that can best comply with regulation by US states such as New York.

Foreign companies best comply with US laws if they want to tap this thriving US market. I see Kraken as leading in this space being one of the companies that meet the stringent New York regulations--along with Coinbase and Crypto.com.