Knaken Review

This review of cryptocurrency broker Knaken was created for informational purposes. Going through this review will help you decide if Knaken is an broker that fits your needs.

Table of Contents

What is the history of Knaken?

Knaken is a cryptocurrency broker that makes it easy for beginners to buy and sell different cryptocurrencies. The broker was founded in 2017 in the Netherlands and is located in Rotterdam. Knaken is the official partner of several high ranked Dutch football clubs including; Ajax, Feyenoord and Sparta Rotterdam.

What cryptocurrencies are available on Knaken?

Knaken is a cryptocurrency broker that offers more than 60 popular cryptocurrencies. Knaken provides an easy way to quickly buy and sell crypto. Getting paid out when selling crypto through Knaken, is easy and fast. The payout or deposit will happen most of the time on the same day.

Knaken offers most popular cryptocurrencies known, this includes;

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Polkadot (DOT)
  • Tezos (XTZ)
  • Cardano (ADA)
  • Chainlink (LINK)
  • ICON (ICX)

What are different payment methods on Knaken?

At the time of writing, Knaken uses 8 payment methods including; Mastercard and Visa.

What are the fees on Knaken?

Knaken is a broker and not an exchange, so each buy or sell a user makes is with Knaken itself. Therefore is the price variable and different for each coin. Prices may vary day per day or hour per hour.

When you want to deposit or withdraw euros, fees will differ with each payment method. Some can charge a significant higher percentage then others.

  • IDEAL – € 0.25 fee
  • Bank transfer – € 0.25 fee
  • Bancontact – 1% fee
  • Visa – 4% fee
  • Mastercard – 4% fee
  • EPS – 2.25% fee
  • Online Überweisen – 2.25% fee
  • Giropay – 2.25% fee

What is Knaken wallet?

Knaken offers its customers the option to let people manage their own wallets. This is not possible with every broker, so we see this as an advantage. This means that you can freely deposit and withdraw different cryptocurrencies, so long the crypto is supported by Knaken.

What are the advantages and disadvantages of Knaken?

Like any other broker, Knaken has advantages and disadvantages. Especially the wide range of payment options makes Knaken a suitable place to quickly buy crypto. We would like to see a wider range of altcoins. Fortunately, the most famous cryptocurrencies are on the website.

Pros

  • Different payment methods (iDEAL, Bancontact, Credit card)
  • Money transfers happen quickly  (same business day)
  • Support by mail, telephone and chat
  • Automatic orders
  • Knaken has its own token, which shortens the purchase process with recurring orders

Cons

  • The lower your purchase, the higher the total costs
  • Small altcoin offering
Knaken-Logo-featuredimage

Conclusion

We believe that Knaken is a good exchange for beginners who want to learn more about cryptocurrencies. In addition, Knaken is known as secure and user-friendly exchange that is settling itself in the European cryptocurrency industry.

Create Knaken account