This summary of the video was created by an AI. It might contain some inaccuracies.
00:00:00 – 00:17:41
The video provides an in-depth comparison of Kraken's trading platforms: Kraken, Kraken Futures, and Kraken Pro. The speaker clarifies each platform's purpose, targeting different user groups, and explains the fee structures, product offerings, and functionalities. Kraken is depicted as user-friendly but limited, with higher fees mainly suited for spot trading. Kraken Pro, designed for advanced users, combines spot and futures trading with lower fees and more sophisticated features like "post only" order types, an intuitive user interface, and easier asset management. Kraken Futures is tailored for leveraged futures trading, offering options and single-collateral futures not available on Kraken Pro. The video also walks through the process of transferring crypto assets between spot and futures wallets and highlights the importance of understanding wallet accessibility across the platforms. Overall, the video aims to help users choose the most suitable platform and optimize their trading strategies by understanding the distinct functionalities and benefits of each Kraken platform.
00:00:00
In this part of the video, the speaker explains the key differences between Kraken, Kraken Futures, and Kraken Pro platforms. The video aims to clarify the distinctions and benefits of each platform, targeting different user groups, and how to effectively transfer crypto assets between them. The speaker plans to cover the reasons for the existence of the three platforms, differences in fees, offered products, usability, and functionalities. Kraken is described as beginner-friendly but with limited functionalities and higher fees. Kraken Futures focuses on advanced trading, offering futures contracts with leverage and sophisticated order types. Kraken Pro combines spot and futures trading, resolving past issues where users had to manage separate accounts and websites for different types of trading.
00:03:00
In this segment of the video, the speaker discusses different trading platforms provided by Kraken, particularly focusing on Kraken Pro, Kraken Futures, and Kraken’s basic platform. The main point is that Kraken Pro is more suitable for advanced users who engage in spot and futures trading due to its significantly lower fees. An example is given where selling 0.001 Bitcoin on Kraken incurs a 1.5% fee, whereas the same transaction on Kraken Pro results in much lower fees, yielding more US dollars. The speaker emphasizes avoiding Kraken’s basic convert, buy, or sell functions to prevent high fees and instead suggests using Kraken Pro for more cost-effective trading. Additionally, the segment outlines that while Kraken Pro and Kraken Futures do not differ in fee structures for futures trading, they do vary in product offerings. Kraken is solely for spot trading, Kraken Futures for leveraged futures trading, and Kraken Pro combines both functionalities. A special sign-up link for Kraken Pro is mentioned for those interested in trading.
00:06:00
In this part of the video, the speaker explains the key differences between Kraken Futures and Kraken Pro. Single collateral futures and options are exclusively tradable on Kraken Futures and not on Kraken Pro. The speaker demonstrates how trading pairs and collateral types differ between these platforms, pointing out that all holdings in Kraken Pro are merged into multi-collateral wallets. They emphasize that for those who want to trade single collateral futures, Kraken Futures is the go-to platform. The speaker then transitions to the design and functionality differences between the platforms, noting that while Kraken’s basic trading functions have limited features and higher fees, Kraken Pro offers a more comprehensive trading terminal with advanced features.
00:09:00
In this part of the video, the speaker discusses the differences and functionalities of the Kraken trading terminals—Kraken, Kraken Pro, and Kraken Futures. The Kraken spot terminal, despite its basic design, provides essential features for spot trading, although it lacks advanced chart analysis tools. Kraken Pro is highlighted as a significant improvement over Kraken Futures, offering better usability and ease of navigation. Additionally, Kraken Pro includes features like “post only” order types, easier order book adjustments, a depth chart, and the ability to manage collateral assets directly. The overall user experience in Kraken Pro is described as more intuitive and leaner compared to Kraken Futures.
00:12:00
In this part of the video, the speaker addresses Kraken wallet functionalities, emphasizing that while basic functionalities remain the same across Kraken’s various platforms, there are important distinctions in how assets are managed between them. Specifically, crypto wallets are generally unified for spot trading between Kraken and Kraken Pro, but these wallets cannot be accessed from a Kraken Futures account. The speaker walks through an example transferring Bitcoin from a Kraken account to a Futures wallet, demonstrating the navigation steps, such as going to the funding page, selecting the amount, and submitting the transfer. Post-transfer, the Bitcoin appears in the Futures wallet and is no longer visible in the spot wallet, illustrating the separation of funds for different types of trading.
00:15:00
In this segment, the video explains how to use Bitcoin for trading coin margin futures or options on the Kraken platform. Users need to transfer BTC to their single collateral wallet by selecting the transfer option, choosing the single collateral wallet, and submitting the transfer. The video highlights that the BTC disappears from the Kraken Pro wallet once transferred, which may confuse users because Kraken Pro does not show the single collateral wallet. To move BTC back to the spot wallet, users should use the withdrawal option instead of transfer. The video clarifies that the wallets within Kraken are indeed unified, although they are accessed differently depending on the account type. An overview of wallet accessibility from different accounts is provided. The video concludes by encouraging viewers to like, subscribe, and join the Discord server for more trading content and access to an AI-powered trading assistant.