Trading prices and charts for Kraken – Kraken

Kraken Exchange

A place to discuss the Kraken Digital Assets Exchange
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Support page for Kraken Digital Assets Exchange

Support page for Kraken Digital Assets Exchange
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Bitcoin Market

Bitcoin is the *currency of the Internet*. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever.
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Top Six Cryptos By Trade Volume Last 24 hours, Bitcoin is dominating, what is up with DASH?? Anyone know? From https://cryptowat.ch/cards/assets one of the best Crypto Charts around, powered by Kraken !

Top Six Cryptos By Trade Volume Last 24 hours, Bitcoin is dominating, what is up with DASH?? Anyone know? From https://cryptowat.ch/cards/assets one of the best Crypto Charts around, powered by Kraken ! submitted by ClintRichards to btc [link] [comments]

Kraken: Peter Brandt questions exchange’s order, liquidity; deems irregular Bitcoin charts price manipulation

Kraken: Peter Brandt questions exchange’s order, liquidity; deems irregular Bitcoin charts price manipulation submitted by n4bb to CoinPath [link] [comments]

Where can I see charts of Bitcoin with volume and candlesticks about years ago, like 2012 or 2013. Poloniex and Kraken show you from 2014ish

submitted by PoentaEFormajo to Bitcoin [link] [comments]

Watching Kraken Charts. How can lowest ask and top bid be the same and not clear immediately? /r/Bitcoin

Watching Kraken Charts. How can lowest ask and top bid be the same and not clear immediately? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Dear Kraken / Tradingview - Please fix your charts. /r/Bitcoin

Dear Kraken / Tradingview - Please fix your charts. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Where can I see charts of Bitcoin with volume and candlesticks about years ago, like 2012 or 2013. Poloniex and Kraken show you from 2014ish /r/Bitcoin

Where can I see charts of Bitcoin with volume and candlesticks about years ago, like 2012 or 2013. Poloniex and Kraken show you from 2014ish /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

did the entire kraken trade chart on btcwisdom jsut entirely change?? /r/Bitcoin

did the entire kraken trade chart on btcwisdom jsut entirely change?? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Best way to sell Bitcoin?

Hey together,
not too long ago I bought a bit of Bitcoin and it actually rose in value a bit. I'm thinking about selling it for the profit now.
I've read a lot about buying Bitcoins but what do you recommend if you want to sell them? Are there special platforms for this?
Thanks in advance :-)
submitted by hugg3rs to Bitcoin [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

eToro and Coinbase Pro charts are totally different...

I just sold my positions on eToro and am getting ready to transfer over to Coinbase Pro. I've been watching the carts on each exchange to see if one is delayed vs. the other but I cant seem to match up the charts at ALL. I have the same frequency and time range, but they look completely different. NONE of the spikes or dips match up. WTF is going on here?
submitted by Pineapple1500 to Bitcoin [link] [comments]

We are hiring!

We are hiring!
Check out all our open roles at https://www.kraken.com/en-us/careers
About Kraken
Our mission is to accelerate the adoption of cryptocurrency so that you and the rest of the world can achieve financial freedom and inclusion. Founded in 2011 and with over 4 million clients, Kraken is one of the world's largest, most successful bitcoin exchanges and we're growing faster than ever. Our range of successful products are playing an important role in the mainstream adoption of crypto assets. We attract people who constantly push themselves to think differently and chart exciting new paths in a rapidly growing industry. Kraken is a diverse group of dreamers and doers who see value in being radically transparent. Let's change the way the world thinks about money! Join the revolution!
https://preview.redd.it/i1gav5zni6i51.png?width=1024&format=png&auto=webp&s=db0ec691b0a4359c41ad679d6c70325abe68e9d3
submitted by kraken-jeff to Kraken [link] [comments]

Bull season is definitely here? If there was any doubt, this week's action should've made it clear 📈

Bull season is definitely here? If there was any doubt, this week's action should've made it clear 📈
So this week has probably been one of the most bullish weeks in recent times for crypto — both established and small cap coins.
Starting with a quick market overview:
  • Total crypto market cap breaks past the $360bn mark, currently sitting over $370bn+ — last time it was this high was May 2018.
  • Total avg. daily volume breaks past the $20bn mark in the week, where it was previous stuck before.
  • Average gain of the crypto top 10 = 43%
chart from livecoinwatch.com
Many established coins (Top 100) making huge moves in the last month alone:
And so many more, including non-top 100 coins, have seen exponential growth, not just this month, but in the last week also.
Some cryptos have seen major technical price breakthroughs at key levels:
>> Ethereum breaking out of a price range after 2 years!
>> Bitcoin breaking out of a downward diagonal trend line, firmly placing itself outside of the previous downtrend.
Exchanges seeing huge rises in traffic — hitting 12-month highs:
Binance hitting a over 200,000 daily users & 1.2 million daily page views.
chart from livecoinwatch.com
Also, Binance recently hitting a 12-month trading volume high of $5.7bn, today recording a daily vol. of $5.6bn. Same goes with other exchanges like Coinbase, Kraken, + others, who have all seen a rise a traffic and overall daily trading volume.

Google Trends showing worldwide interest in cryptocurrency is at a 12-month high:
chart from Google Trends
And the overall vibe on all crypto subreddits just spells a lot of excitement and activity.
Overall sentiment (from my observations) being very bullish overall, both for established and small cap coins. It definitely seems like we're at the launchpad stage of a bull run.
https://reddit.com/link/iaaopc/video/ks4ea2au27h51/player

Question: Where are we going to go from here? Will we soon see 2017-like parabolic rallies? Pullbacks before more uptrends?

(charts used from livecoinwatch.com and Google Trends)
submitted by lewjc to CryptoMarkets [link] [comments]

Cryptowatch Credits, Donchian Channels

Cryptowatch Credits, Donchian Channels
Read this on the Cryptowatch Changelog.
This week Cryptowatch launched its new pricing structure — Cryptowatch Credits. Instead of upgrading your subscription to unlock features, you can now pay for the features you want, on-demand. Credits can be earned by completing the Onboarding list, or bought with bitcoin or a credit card. All of the core functions of Cryptowatch — trading, portfolio, charts and chat — remain completely free.
A new overlay has also been added to the Analysis menu — Donchian channels. This overlay plots the high and low prices for an asset over a given period, and is useful for signalling trends and ranges for day traders.

Credits

Cryptowatch has moved away from subscriptions to a more flexible pricing model — Cryptowatch Credits. In this system, you keep a balance of Credits in your account and pay for features only as you require them. All of the core functions of Cryptowatch — trading, portfolio, charts and chat — remain completely free.
The pricing page is now Credits and Billing, with pricing information and renewal options.
Accounts with open subscriptions had the cost of those subscriptions converted into a Credits balance upon release. You can pay for more Credits with bitcoin or by credit card. Clients with a credit card attached to their account can opt into automatic refills when their Credits balance is low.
Credits are currently used to pay for SMS alerts, REST and WebSocket API connectivity, and extensibility features like Zapier triggers.
Your Credits balance is always visible in the top-right of the screen, next to your account icon. Check out the Credits and Billing page to learn more.
Your Credits balance is always available in the top-bar of any page on Cryptowatch.
The Market Data REST API page has been updated with new pricing information. Anonymous users are now allotted up to 10 credits worth of API requests via the REST API. Clients with billing information in their account can purchase credits to increase their limits.
Pricing details for REST API requests.

Donchian Channels

Donchian Channels (a.k.a. Price Channels) is a new overlay in the Analysis menu that plots high and low prices over a determined period of time. The default period is 20 bars, which can be edited in the Inputs tab when Donchian Channels is selected. This overlay works well on all time periods (from 1 minute (1M) to 1 Week (1W). It does not factor the current bar into its calculation.
Donchian Channels overlaid on Kraken Futures: BTC/USD Perpetual.
submitted by kraken-lloyd to cryptowatch [link] [comments]

Remember, remember Bitcoin tanks in September: Kraken report (current BTC/USD price is $10,130.62)

Latest Bitcoin News:
Remember, remember Bitcoin tanks in September: Kraken report
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

Price Discovery in Bitcoin exchange

About thirty days ago I shared a chart on Price Discovery in this sub. There was a lot of interest in it and I promised to explain in detail a Bitcoin price discovery algorithm.. I do so in this post.
*this text post is a slightly shorter version of what I wrote in my blog.

TL;DR

I applied price discovery algorithms to 5 Min OHLCV data from Bitmex and CME contracts and Bitstamp, Coinbase, HitBTC, Kraken, Poloniex, Binance, and OkEx BTCUSD/BTCUSDT markets from March 2016 to May 2020. Some exciting results I got was:

Introduction

Price discovery is the overall process of setting the price of an asset. Price discovery algorithms identify the leader exchanges whose traders define the price. Two approaches are most famous for use in Price Discovery. Gonzalo and Granger (1995) and Hasbrouck (1995). But they assume random walk, and a common efficient price. I do not feel comfortable assuming random walk and common efficient price in Bitcoin Markets. So I used this little know method by De Blasis (2019) for this analysis. This work assumes that "the fastest price to reflect new information releases a price signal to the other slower price series." I thought this was valid in our market. It uses Markov Chains to measure Price Discovery. Without going into the mathematical details the summary steps used was:
De Blasis (2019) names this number Price Leadership Share (PLS). High PLS indicates a large role in price discovery. As the sum of the numbers is 1, they can be looked at as a percentage contribution. I recommend reading the original paper if you are interested to know more about the mathematical detail.

Data

Andersen (2000) argues that 5 Minute window provides the best trade-off between getting enough data and avoiding noise. In one of the first work on Bitcoin's Price Discovery, Brandvold et al. 2015 had used 5M window. So I obtained 5M OHLCV data using the following sources:
Futures data are different from other data because multiple futures contract trades at the same time. I formed a single data from the multiple time series by selecting the nearest contract until it was three days from expiration. I used the next contract when the contract was three days from expiration. This approach was advocated by Booth et al ( 1999 )

Analysis

I can't embed the chart on reddit so open this https://warproxxx.github.io/static/price_discovery.html
In the figure above, each colored line shows the total influence the exchange had towards the discovery of Bitcoin Price on that day. Its axis is on the left. The black line shows a moving average of the bitcoin price at the close in Bitfinex for comparison. The chart was created by plotting the EMA of price and dominance with a smoothing factor of 0.1. This was done to eliminate the noise. Let's start looking from the beginning. We start with a slight Bitfinex dominance at the start. When the price starts going up, Bitfinex's influence does too. This was the time large Tether printing was attributed to the rise of price by many individuals. But Bitfinex's influence wanes down as the price starts rising (remember that the chart is an exponential moving average. Its a lagging indicator). Afterward, exchanges like Binance and Bitstamp increase their role, and there isn't any single leader in the run. So although Bitfinex may have been responsible for the initial pump trades on other exchanges were responsible for the later rally.
CME contracts were added to our analysis in February 2018. Initially, they don't have much influence. On a similar work Alexandar and Heck (2019) noted that initially CBOE contracts had more influence. CBOE later delisted Bitcoin futures so I couldn't get that data. Overall, Bitmex and CME contracts have been averaging around 50% of the role in price discovery. To make the dominance clear, look at this chart where I add Bitmex Futures and Perp contract's dominance figure to create a single dominance index. There bitmex leads 936 of the total 1334 days (Bitfinex leads 298 days and coinbase and binance get 64 and 6 days). That is a lot. One possible reason for this might be Bitmex's low trading fee. Bitmex has a very generous -0.025% maker fee and price discovery tend to occur primarily in the market with smaller trading costs (Booth et al, 1999). It may also be because our market is mature. In mature markets, futures lead the price discovery.
Exchange bitmex_futures bitfinex coinbase bitmex okex binance cme bitstamp okcoin kraken poloniex
Days Lead 571 501 102 88 34 12 8 7 6 4 1
 Table 1: Days Lead 
Out of 1334 days in the analysis, Bitmex futures leads the discovery in 571 days or nearly 43% of the duration. Bitfinex leads for 501 days. Bitfinex's high number is due to its extreme dominance in the early days.
Exchange binance huobi cme okcoin bitmex_futures okex hitbtc kraken poloniex bitstamp bitfinex coinbase bitmex
Correlation 0.809190 0.715667 0.648058 0.644432 0.577147 0.444821 0.032649 -0.187348 -0.365175 -0.564073 -0.665008 -0.695115 -0.752103
 Table 2: Correlation between the close price and Exchange's dominance index 
Binance, Huobi, CME, and OkCoin had the most significant correlation with the close price. Bitmex, Coinbase, Bitfinex, and Bitstamp's dominance were negatively correlated. This was very interesting. To know more, I captured a yearwise correlation.
index 2016 2017 2018 2019 2020
0 bitfinex 0.028264 -0.519791 0.829700 -0.242631 0.626386
1 bitmex 0.090758 -0.752297 -0.654742 0.052242 -0.584956
2 bitmex_futures -0.011323 -0.149281 -0.458857 0.660135 0.095305
3 bitstamp 0.316291 -0.373688 0.600240 -0.255408 -0.407608
4 coinbase -0.505492 -0.128336 -0.351794 -0.410874 -0.262036
5 hitbtc 0.024425 0.486229 0.104912 -0.200203 0.308862
6 kraken 0.275797 0.422656 0.294762 -0.064594 -0.192290
7 poloniex 0.177616 -0.087090 0.230987 -0.135046 -0.154726
8 binance NaN 0.865295 0.706725 -0.484130 0.265086
9 okcoin NaN 0.797682 0.463455 -0.010186 -0.160217
10 huobi NaN 0.748489 0.351514 -0.298418 0.434164
11 cme NaN NaN -0.616407 0.694494 -0.012962
12 okex NaN NaN -0.618888 -0.399567 0.432474
Table 3: Yearwise Correlation between the close price and Exchange's dominance index
Price movement is pretty complicated. If one factor, like a dominant exchange, could explain it, everyone would be making money trading. With this disclaimer out of the way, let us try to make some conclusions. This year Bitfinex, Huobi, and OkEx, Tether based exchanges, discovery power have shown a high correlation with the close price. This means that when the traders there become successful, price rises. When the traders there are failing, Bitmex traders dominate and then the price is falling. I found this interesting as I have been seeing the OkEx whale who has been preceding price rises in this sub. I leave the interpretation of other past years to the reader.

Limitations

My analysis does not include market data for other derivative exchanges like Huobi, OkEx, Binance, and Deribit. So, all future market's influence may be going to Bitmex. I did not add their data because they started having an impact recently. A more fair assessment may be to conclude this as the new power of derivative markets instead of attributing it as the power of Bitmex. But Bitmex has dominated futures volume most of the time (until recently). And they brought the concept of perpetual swaps.

Conclusion

There is a lot in this data. If you are making a trading algo think there is some edge here. Someday I will backtest some trading logic based on this data. Then I will have more info and might write more. But, this analysis was enough for to shift my focus from a Bitfinex based trading algorithm to a Bitmex based one. It has been giving me good results.
If you have any good ideas that you want me to write about or discuss further please comment. If there is enough interest in this measurement, I can setup a live interface that provides the live value.
submitted by warproxxx to BitcoinMarkets [link] [comments]

08-23 09:04 - 'Bitcoin Could Avoid a Major Reversal if it Stays Above One Key Support' (self.Bitcoin) by /u/ravindernath101 removed from /r/Bitcoin within 0-10min

'''
Bitcoin is declining and trading well below the $12,000 pivot level against the US Dollar. BTC must stay above the $11,100 support zone to start a fresh increase in the near term.

'''
Bitcoin Could Avoid a Major Reversal if it Stays Above One Key Support
Go1dfish undelete link
unreddit undelete link
Author: ravindernath101
submitted by removalbot to removalbot [link] [comments]

$11k BABY

Onwards to $20k? Back to $6k? Either way, keep HODLing my friends <3 https://www.kraken.com/prices/xbt-bitcoin-price-chart/usd-us-dollar?interval=1m
submitted by GruniTheThird to Bitcoin [link] [comments]

Boom! Kraken Predicts Imminent Bitcoin Price Rally of Up to 200% (current BTC/USD price is $11,569.83)

Latest Bitcoin News:
Boom! Kraken Predicts Imminent Bitcoin Price Rally of Up to 200%
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?
Can the early success of major crypto exchanges propel them to winning the broader consumer finance market?
https://reddit.com/link/i48t4q/video/v4eo10gom7f51/player
This is the first part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this powerful technology to reach the masses. We believe a crypto-native company, like Genesis Block, will become the bank of the future.
In an earlier series, Crypto-Powered, we laid out arguments for why crypto-native companies have a huge edge in the market. When you consider both the broad spectrum of financial use-cases and the enormous value unlocked through these DeFi protocols, you can see just how big of an unfair advantage blockchain tech becomes for companies who truly understand and leverage it. Traditional banks and fintech unicorns simply won’t be able to keep up.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement.
So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post.
Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources.
Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in.
https://preview.redd.it/lau4hevpm7f51.png?width=800&format=png&auto=webp&s=2c5de1ba497199f36aa194e5809bd86e5ab533d8

Binance

The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling.
Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?

Binance Weaknesses

Binance is strong, but they do have a few major weaknesses that could slow them down.
  1. Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
  2. Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
  3. Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
  4. BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
  5. Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.

Binance Wrap Up

I don’t believe Binance is likely to succeed with a homegrown product aimed at the consumer finance market. Their current product — which is focused heavily on professional traders and speculators — is unlikely to become the bank of the future. If they wanted to enter the broader consumer market, I believe it’s much more likely that they will acquire a company that is getting early traction. They are not afraid to make acquisitions (Trust, JEX, WazirX, DappReview, BxB, CoinMarketCap, Swipe).
However, never count CZ out. He is a hustler. Binance is executing so aggressively and relentlessly that they will always be on the shortlist of major contenders.
https://preview.redd.it/mxmlg1zqm7f51.png?width=800&format=png&auto=webp&s=2d900dd5ff7f3b00df5fe5a48305d57ebeffaa9a

Coinbase

The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.

Coinbase Strengths

Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
  1. Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
  2. Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
  3. USDC Stablecoin Coinbase (along with Circle) launched USDC. We’ve shared some stats about its impressive growth when we discussed DeFi use-cases. USDC is quickly becoming integrated with most DeFi protocols. As a result, Coinbase is getting a front-row seat at some of the most exciting things happening in decentralized finance. As Coinbase builds its knowledge and networks around these protocols, it could put them in a favorable position to unlock incredible value for their users.
  4. Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.

Coinbase Weaknesses

Let’s now look at some things that could hold them back.
  1. Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
  2. Lack of Innovation When you consider the previous point (slow cadence), it’s unclear if Coinbase is capable of building and launching new products that are built internally. Most of their new products have come through acquisitions. Their Earn.com acquisition is what led to their Earn educational product. Their acquisition of Xapo helped bolster their institutional custody offering. They acqui-hired a team to help launch their staking infrastructure. Their acquisition of Cipher Browser became an important part of Coinbase Wallet. And recently, they acquired Tagomi — a crypto prime brokerage. Perhaps most of Coinbase’s team is just focused on improving their golden goose, their exchange business. It’s unclear. But the jury is still out on if they can successfully innovate internally and launch any homegrown products.
  3. Talent Exodus There have been numerous reports of executive turmoil at Coinbase. It raises a lot of questions about company culture and vision. Some of the executives who departed include COO Asiff Hirji, CTO Balaji Srinivasan, VP & GM Adam White, VP Eng Tim Wagner, VP Product Jeremy Henrickson, Sr Dir of Eng Namrata Ganatra, VP of Intl Biz Dan Romero, Dir of Inst Sales Christine Sandler, Head of Trading Hunter Merghart, Dir Data Science Soups Ranjan, Policy Lead Mike Lempres, Sr Compliance Vaishali Mehta. Many of these folks didn’t stay with Coinbase very long. We don’t know exactly why it’s happening —but when you consider a few of my first points (slow cadence, lack of innovation), you have to wonder if it’s all related.
  4. Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.

Coinbase Wrap Up

At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product.
Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.

Honorable Mentions

Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.

Wrap Up

Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
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Bitcoin volume down by 77% in 4 months; will price follow?

With Bitcoin’s volatility drying up, the other side of the grass does look greener; the other side being “DeFi.” With yield farming caching on, Bitcoin volumes are recording a stark decline on the charts. Between Bitfinex, Bitstamp, Gemini, and Kraken, the total average weekly volume has gone from being a little below 1.3 million BTC […]
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Krakens Business Head Expects Bitcoin Price To Hit $1million (current BTC/USD price is $9,140.87)

Latest Bitcoin News:
Krakens Business Head Expects Bitcoin Price To Hit $1million
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Bitcoin vs. Altcoins

I’ve included basic information about Bitcoin compared to some of the Altcoins that I follow (Ethereum, Stellar, Z-Cash), highlighting key differences along with citations.
Bitcoin (BTC): entrust your money to those with the most computing power (PoW); OG cryptocurrency - 600-second block time (10 minutes) - bandwidth: 3.5 transactions / second - suggested to wait for 6 confirmations - current cost to include 1 transaction in next block $1.40 - Bitcoin Reddit community - Learn More
Ethereum (ETH): entrust your computation to those with the most computing power (Ethereum v1.0 = PoW) or money (Ethereum v2.0 = PoS) - 14-second block time - bandwidth: 8 transactions / second - suggested to wait 5-30 confirmations - current cost to include 1 transaction in next block $0.43 - Ethereum Reddit community - Learn More
Stellar (XLM): entrust your money to those you trust regardless of computing power or money (SCP: Stellar Consensus Protocol); has on-chain currency conversions - 5-second ledger (block) time (live dashboard) - bandwidth: 1,000 transactions / second (5,000 transactions per ledger / 5 seconds per ledger = 1,000 transactions per second) - suggested to wait 0 confirmations; there are no additional block confirmations required since there is no “longest-chain wins” rule in the consensus algorithm - current cost to include 1 transaction in next block $0.0000008 - Stellar Reddit community - Learn More
Z-Cash (ZEC): entrust your money to those with the most computing power (PoW) + anonymity - 75 second block time - bandwidth: 6 - 26 transactions / second (6 if all transactions in the block are anonymous, 26 if all transactions in the block are transparent, ranges in between) - suggested to wait 24 confirmations - current cost to include 1 transaction in next block $0.0000005 - Z-Cash Reddit community - Learn More
Disclaimer: None of the above should be construed to be investment advice, a solicitation to buy any of the above tokens, or factual information in any way and readers should do their own research to verify the above information. My intention is to provide some information about alternative cryptocurrencies (Altcoins). I have only specified a few altcoins here and if there is enough interest I can do a second post with additional tokens. I work at The Stellar Development Foundation as an Engineer.
submitted by nikhilsaraf9 to CryptoCurrencies [link] [comments]

How To Use Kraken Exchange  Conditional Closes + Settle ... Sharp Bitcoin Decline, Owning 1 Entire Bitcoin, Kraken Forex, Ripple Expansion & Staking Cosmos May 10 - Click info for new trading lesson videos! - YouTube How to use Kraken: Tutorial - YouTube Kraken Exchange Tutorial - How to Reduce Bitcoin Transaction Fees

Bitcoincharts is the world's leading provider for financial and technical data related to the Bitcoin network. It provides news, markets, price charts and more. You can navigate to trade.kraken.com (powered by our Cryptowatch service) to view detailed candlestick charts and use a variety of advanced charting and drawing tools. A shortcut can be found via the charts icon to the right of the ticker/quote bar. Trade and chart with live market data for BTCUSD on Kraken within the Cryptowatch trading terminal. Kraken Financial is the first digital asset company in U.S. history to receive a bank charter recognized under federal and state law. The announcement further states that Kraken Financial “will be the first regulated, U.S. bank to provide comprehensive deposit-taking, custody and fiduciary services for digital assets.” KRAKEN charts. Trade History, Volume, Market Depth... Toggle navigation. Prices; Rich List. Bitcoin Rich List; Bitcoin Cash Rich List

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How To Use Kraken Exchange Conditional Closes + Settle ...

Ethereum ETH/USD/Kraken See the history of cryptocurrency! ... This channel will examine the past of various charts so please look forward to it! ... Bitcoin BTC/USD/Bitstamp ビットコインの ... Live Forex Trading & Chart Analysis - NY Session August 3, 2020 Conquer Trading & Investing 654 watching Live now 2020-08-03 Trader Bite #1810 FuturesTrader71 546 watching This is the 2nd intro tutorial for the Kraken Bitcoin Exchange. I cover the fee structure, and briefly touch on the new cryptowatch trading graphics/visuals ... This is a quick tutorial on how to use the Kraken cryptocurrency exchange. It's my personal recommendation and one of the cheapest and easiest to use, with t... This is a video on How To Use Kraken Exchange's conditional close and settle position options. It addresses how to use conditional closes and what they are a...

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