SAN FRANCISCO--(BUSINESS WIRE)--Kraken, a San Francisco-based Bitcoin exchange, is please to introduce the Kraken dark pool for bitcoin trading, a new feature that allows clients to discreetly place large bitcoin orders and execute against similar sized orders at potentially better prices.
Kraken is now one of the few exchanges offering a dark pool for bitcoin.
The Kraken dark pool is an order book not visible to the rest of the market. Each trader only knows their own orders. Traders can anonymously place large buy or sell orders without revealing their interest to other traders. Typically, outsized orders, when seen by other traders will cause the market to move unfavorably, making it more difficult to fill the order at the desired price. This unfavorable price movement may be avoided in a dark pool.
Kraken will charge an extra 0.1% for dark orders. Dark pool trading is available to all Kraken clients with accounts verified to Tier 2 or higher (for information on the account tiers click here). The minimum dark order size is 50 bitcoins and only limit orders are supported. The dark pool will accept orders for trading between bitcoins and EUR, USD, JPY or GBP. Dark pool pairings are designated by a “.d” extension (e.g. XBT/EUR.d or XBT/USD.d).
Clients wanting to get started with dark pool trading should go to https://www.kraken.com to login or create and account and select one of the dark pairs in the intermediate or advanced order form.
Founded in 2011, San Francisco-based Kraken (www.kraken.com) is the largest Bitcoin exchange in euro volume and liquidity and also trades US dollars, British pounds and Japanese yen. Kraken is consistently rated the best and most secure Bitcoin exchange by independent news media. Kraken was the first Bitcoin exchange listed on Bloomberg Terminal, the first to pass a cryptographically verifiable proof-of-reserves audit, and is a partner in the first cryptocurrency bank. Kraken is trusted by hundreds of thousands of traders, the Tokyo government’s court-appointed trustee, and Germany’s BaFin regulated Fidor Bank.