kraken, bitcoin

The San Francisco bitcoin exchange Kraken has announced its official launch of Canada exchange with a cryptocurrency risk management specialist Vogogo.

Canadian bitcoin traders will have the opportunity of converting their Canadian dollars into bitcoins through Interac e-Transfer and electronic fund transfers – EFT with fees in range of 0.1%-0.35%, depending on volumes.

As Kraken CEO Jesse Powell stated, Canada seemed as an appropriate market with remarkable potential for his company. Kraken is trying to widen its activities and cover more markets as in the US it gained top position on bitcoin market, while broadening its services to Japan then.

Canada has already experiences with bitcoin exchanges before, but CaVirtex had to close in March, 2015 due to security problems as password hashes and two-factor authentication secrets, and Vault of Satoshi had changed its market focus with TurboFlix success. Kraken became the latest exchange to try this North-American bitcoin market.

As for the global position, Kraken still holds its top status in EUR trading, as Bitcoin Charts informed, showing a volume of 4,579 BTC per day, being muchmore successful as its competitors.

Earlier this month, Kraken has introduced a dark pool trading with the possibility for bitcoin traders to place larger orders without anyone knowing their interests. This opportunity is offered only for Tier 2  verified customers solely, while minimum order is around 50 bitcoins.

Despite the criticism of dark pools and sanctions imposed on banks due to this feature, many supporters say that dark pools help to stabilize markets and lower costs. As CEO Powell added, this feature has been implemented on the demand from customers and he saw the advantage of handling larger orders.

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