15 Features of a Crypto Trading App like Kraken

5 min readMay 2, 2022

Cryptocurrencies have changed the entire investment landscape of the world. People have switched from traditional investment modes to newer options like cryptocurrencies and NFTs.

A crypto trading app offers a platform for users to learn, trade, and earn from cryptocurrencies. Kraken is one such app that provides users with various features to up their crypto game.

Here are 15 features of a crypto trading app like Kraken that one must consider while developing a similar app:

Features of Crypto Trading Apps:

1. Account Management

Crypto Trading apps like Kraken offer personalized support through their Account Management program. Frequent users are assigned their personal account representatives, who act as their main point of contact, handling all questions and requests. The users can contact the representatives via any communication channel of the user’s choice like Email, Phone, Prioritized Support Ticketing, and Text and Messaging apps.

2. Funding Options

These apps offer various options for funding a user’s cryptocurrency investment. The users have an option to fund their account with traditional currencies like US Dollars, Euros, Canadian Dollars, etc., or with Coins like Bitcoin, Ethereum, Ripple, etc.

Apart from the above options, such apps offer other funding options for corporate-level clients, like USD international wire transfers.

3. Futures

Apps like Kraken allow the users to trade in futures by offering benefits like amplified buying and selling power because of leverage, flexibility in risk management through the margin mode functionality, and exposure to various currency pairs using a multi-collateral futures wallet. One can hedge against spot market volatility and protect mining profits by using futures.

4. Indices

Crypto trading apps give users access to pricing data along with cryptocurrency indices. The real-time indices and spot rates update every second to provide accurate data. The prices and the indices are compiled by aggregating the data from top cryptocurrency exchanges. Apart from providing real-time indices and spot rates, these apps also offer reference rates and settlement prices that update every day.

5. Fee Structure

The low fee is another feature that makes such apps appealing to the users. Apps like Kraken charge fees as low as 0%. The fee is low for both makers as well as the takers. Since almost all the cryptocurrency pairs of such apps follow the same fee structure, it increases liquidity and enables users to trade at the price they want.

6. Liquidity

Cryptocurrency prices fluctuate very frequently, and users need to make decisions quickly. Crypto trading apps like Kraken offer deep liquidity to ensure that the trade takes place at the price the user wants. Features like high trading volume, low fees, more funding options, and more active traders enable these apps to offer greater liquidity to their users.

7. Margin Trading

For more advanced traders, crypto trading apps also offer the facility of Margin Trading, which allows the users to make spot transactions using funds that may exceed their account balances. These apps allow leverage up to 5x, low rollover fees, a pro trading interface, margin limits up to $500000, and advanced API access for convenient margin trading.

8. OTC

Crypto trading platforms offer OTC trading facilities to institutions and high net worth individuals who need to fill large orders that might be too disruptive if traded on open markets. The apps provide higher liquidity and a private, more personalized service to such individuals. The OTC desk provides discreet, secure, and ultra-competitive execution and settlement services when these users wish to trade high-value orders.

9. Security

For any trading platform, security is of utmost importance. These apps offer high security to their users and their investments.

Some of the security features that such apps offer include:

2-factor authentication
Email confirmations for withdrawals
No Phone/SMS account recovery
Configurable account timeout
Global settings time lock
SSL encryption
Constant real-time monitoring for suspicious activity

10. Staking

Staking is another feature that may attract users to a crypto trading app. Instead of keeping their coins and fiat idle in the account, the users can stake these assets and gain rewards, which act as an incentive to acquire and hold onto staking assets. Once the bonding period of the assets is over, the users can stake the assets and earn rewards twice a week.

11. 24/7 Support

A successful app also requires an efficient user support system. With 24/7 support service, apps like Kraken ensure timely and effective redressal of user queries. Global presence enables these apps to serve the users every day and 24 hours a day. The queries can be addressed via call, email, or the support page.

12. Cryptowatch

Cryptowatch is a feature of Kraken that allows users to keep tabs on the crypto markets and trade when they deem fit. Using this feature, traders can watch their portfolio and crypto markets across multiple exchanges at a glance. They can organize the data as per their choice. This feature also allows users to analyze crypto markets using the app’s data library, enabling them to make trades quickly and conveniently, even at their fingertips.

13. Crypto Guides

Popular crypto trading apps also allow users to learn more about cryptocurrencies. With study materials, videos, and podcasts, these apps aim to enhance the users’ knowledge of cryptocurrencies.

14. Authenticity

To ensure the authenticity of its outgoing emails, Kraken has hosted its public PGP key online, which the users can use to check whether the emails received are from the authentic source or not. This adds an extra layer of security for the users of the app.

15. Number of Cryptocurrencies supported

Users can trade in several cryptocurrencies, as Kraken supports 97 cryptocurrencies on its platform.

Wrapping up

Developing a crypto trading app is not a child’s play. With numerous features like those listed above, it becomes imperative to consider what the app stands for and what it offers. The app should also be unique and provide the users with something that other apps don’t to stand out from the crowd. One can get in touch with experts who can help them with the necessary services and requirements.