Kraken, a major global cryptocurrency exchange, has officially launched its new mobile application for users across the United States. This expansion comes after the app’s successful debut in Europe and reflects growing demand for accessible crypto investing tools.
The new app allows US-based investors to buy, sell, and manage over 50 different cryptocurrencies directly from their smartphones. With a user-friendly interface and streamlined onboarding, individuals can create an account and begin trading with as little as $10.
What the Kraken Mobile App Offers
The Kraken mobile app is designed with retail investors in mind. It emphasizes simplicity, security, and education, making it easier for new users to enter the cryptocurrency market.
Key Features
- Low Minimum Investment: Users can start investing with just $10.
- Broad Crypto Selection: Support for more than 50 cryptocurrencies.
- Fast Verification: Streamlined identity confirmation and account setup.
- Bank Transfer Integration: Easy deposits and withdrawals via linked bank accounts.
- Educational Content: Resources to help users understand crypto investing.
This app is distinct from Kraken Pro, which is tailored for advanced traders seeking more complex tools and market data.
Driving Crypto Adoption in the US
The introduction of Kraken’s mobile app in the US aligns with a broader trend of increasing retail investment in digital assets. Mobile-first accessibility is critical, as more Americans manage their finances through smartphones.
Jesse Powell, CEO of Kraken, emphasized the importance of this launch:
“The past year has shown that the U.S. investor is truly a force to be reckoned with. With record numbers of Americans conducting most of their financial lives through mobile apps, it makes perfect business sense for Kraken to offer easy access to cryptocurrencies.”
Growth and Market Response
Since its initial release in Europe, Kraken’s consumer app has seen remarkable adoption. Trading volumes increased more than sixfold between January and May 2021, signaling strong user engagement.
Jeremy Welch, Chief Product Officer at Kraken, noted:
“We’ve seen a surge in new clients and all-time highs – with Kraken services handling nearly $12 billion of trading volume in a single day. We know greater access leads to wider adoption.”
The US launch is expected to further accelerate this growth, bringing cryptocurrency investment opportunities to a broader audience.
Getting Started with the App
US users can download the Kraken mobile app from the Google Play Store for Android devices or the Apple App Store for iOS. The registration process is designed to be quick and intuitive, allowing new investors to begin trading within minutes.
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Frequently Asked Questions
What is the Kraken mobile app?
The Kraken mobile app is a user-friendly platform that allows individuals to buy, sell, and manage cryptocurrencies directly from their phones. It supports over 50 digital assets and is designed for beginner and intermediate investors.
How is it different from Kraken Pro?
While the standard Kraken app focuses on simplicity and ease of use, Kraken Pro offers advanced trading features, detailed charts, and more order types for experienced traders.
What is the minimum amount to start investing?
You can begin investing with as little as $10 on the Kraken app, making it accessible for those new to cryptocurrency.
Is the app available nationwide in the US?
Yes, the Kraken mobile app is available to users across all US states.
Does Kraken provide educational resources?
Yes, Kraken offers learning materials within the app to help users understand cryptocurrency basics and investing strategies.
Can I fund my account via bank transfer?
Yes, the app supports bank transfers for depositing and withdrawing funds, providing a seamless link between traditional banking and crypto investing.