Knaken | Reliability, experiences and explanation =

In a rapidly changing world, it is often difficult to see the wood for the trees. You would like to invest in crypto, but you have no idea via which platform or in what way? After all, there are several ways, but which one is the best? Fortunately, in addition to complicated exchanges, there are also brokers. These operate as an intermediary to make an investment as simple and easy as possible for a starting investor. Discover here the full operation of Knaken, a Dutch brokerage platform that has been active since 2018.

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  • View quickly
  • Origin Knaken
  • Broker vs. exchange
    • How does a broker work?
    • Brokers benefits
      • Knowledge
      • Payment method
      • Support
  • Registration Knaken – KYC
    • Dashboard
      • To strike
      • Car order
      • Wallet
    • Crack Token
  • Offer crypto at Knaken
  • Trade crypto
    • Payment options
    • Safety
      • 2FA verification
    • Trading costs
  • Become an affiliate at Knaken
  • Partners
  • Customer Service
  • Conclusion

Would you like to know what the Knaken dashboard and platform look like? Watch the video below for a complete overview. Please note: during the recording of this video, the domain name was still Knaken.eu. This has been changed to Knaken.nl

 

Origin Knaken

Knaken is a Dutch brokerage platform founded in 2017 – 2018 by CEO Ronald Jonkers and CFO Vincent van der Sanden. With a background in finance and engineering, they took an interest in crypto and Bitcoin in the early years. After investing themselves and being convinced of this new financial revolution, they increasingly received requests from others to help them with the purchase process of certain crypto currencies.

This made her realize that buying crypto is unnecessarily complex and that there is a need for a simplified way. As the founders of Knaken, they have only one goal in mind, namely: making digital currency accessible to everyone, with or without technical knowledge. And all this in an innovative and safe way in which simplicity and ease of use play a prominent role. Their slogan is therefore: “Keep it stupid simple”

In 2019-2020, Knaken went live and grew into a successful startup, starting with their DNB registration. Every provider of crypto services in the Netherlands must apply for registration in the public register of DNB. This supervises compliance with the law for the prevention of money laundering, among other things. The DND registration was successfully completed in February 2021. At the time of writing, Knaken has a dynamic team with no fewer than 11 employees.

Broker vs. exchange

Knaken is a Dutch broker that should make access to crypto more accessible to the general public. With increasing awareness of the new technology that crypto has to offer and the increasing possibilities, more and more investors are becoming interested in also taking their chances in the world of crypto.

It is still a fairly young market that is developing very quickly, and it can therefore be quite difficult for young investors to see the wood for the trees. When looking at major international exchanges, this puts many novice investors off because they are overwhelmed by the ever-changing order books and the random amounts flying around.

A good way to minimize this barrier, to offer everyone access to the world of crypto, is to use a broker. The broker takes on the responsibility of effectively making the purchase of your crypto.

How does a broker work?

A broker is basically an intermediary between the investor and the exchange. You have the same options and opportunities as someone who trades directly, but with a broker you outsource the process to them.

Suppose you want to invest in Bitcoin (BTC) and want to place an order for 50 euros. You place this order with the broker and pay for it using one of the payment options. From that moment on, the broker places this order with an exchange. After filling this order, these crypto will be sent to the specified wallet.

A broker generally charges a higher fee than the exchange itself, but you do get numerous benefits for this.

Knaken.nl

Brokers benefits

Knowledge

One of the biggest advantages a broker offers is that everyone can invest in crypto without any prior knowledge of complicated exchanges. A novice investor can quickly be overwhelmed by both an exchange’s interface and endless options. Simplified exchanges are now available, but some basic knowledge is still required.

Payment method

With an exchange, the payment methods are often limited. When looking at larger international exchanges, one of the few options here is paying by credit card. A significant part of both the Dutch and Belgian population still does not have a credit card. This excludes this population from investing in crypto. The payment options at a broker are usually much more extensive, as well as at Knaken. We will come back to this later.

Support

In connection with the lack of knowledge of a starting investor, having extensive support is a very big plus. This way you can always go here with all your questions and / or comments and you will always be guided in the buying or selling process of your crypto.

Registration Knaken – KYC

A KYC procedure, better known as know your customer, is the process of verifying yourself as a person based on a number of government documents and additional questions. When registering with Knaken you will be asked a few questions including your age, address and annual income. To complete this registration, Knaken asks you to scan a QR code and confirm your location. If you do not wish to enable your location data, you can also choose to forward a copy of one of the documents below:

  • Identity card
  • Drivers license
  • Passport

Dashboard

Once your verification has been completed, you will have access to your personal dashboard. Here you will see all information regarding your own account. This way you have insight into your entire portfolio, of course, but you can also navigate from here to your account details, affiliate programs and the like.

To strike

You can also stake your own crypto from your dashboard. Knaken’s strike protocol is based on close cooperation with partners. Here you can choose to stake your certain currency for a certain time. Note: this is only a fixed strike. This is a fixed-term strike. In the example below, these terms are set at 1 month, 6 months and 12 months. You can also choose to compound your profit here. This means that after the end of your earned interest, you will automatically strike again for the same time.

At the time of writing, it is only possible to stake Knaken tokens. This is a currency equivalent to the value of one Euro. But the team is busy expanding these options to as many cryptocurrencies as possible.

 

Knaken.nl

Car order

An absolute added value of Knaken is the auto order function. Suppose you would like to invest in Bitcoin, but not at any price. With auto-order you can place an automatic order based on various parameters. Suppose you only want to buy a certain currency below a certain price, for a certain amount. Then you can enter this information here and the broker will purchase this currency for you if these parameters are met. You can also set up this automatic order for selling your currency.

Wallet

Knaken has software wallets in the platform. When you have made a purchase via Knaken, you will receive this crypto in your own personal wallet. You can always see the current value of your portfolio, divided over the various digital assets you own. From this personal wallet you can also send currency to other addresses.

The safest way is still to store your crypto in a hardware wallet. Despite the fact that you emphasize safety, no one can guarantee you this safety 100%. The saying is often ‘not your keys, not your wallet’.

Crack Token

The broker platform has its own native token, namely Knaken Token. This is a crypto currency pegged to the euro and used in the platform. This means that one Knaken Token is equal to the value of one euro. Purchases are made in euros, but the team behind Knaken uses the Knaken Token as a representation of the euro on the platform.

Offer crypto at Knaken

At the time of writing, you can trade with more than 65 different cryptos at Knaken. Some of these crypto include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Tether (USDT)
  • Ocean Protocol (OCEAN)
  • Energy Web Token (EWT)
  • Enjin (ENJ)

View the full list of coins here.

Trade crypto

At Knaken you can invest in different crypto, but of course you can also trade it again. Note here that you can only sell your current crypto for fiat money. Active trading, from one cryptocurrency to another, is made possible through the use of their native Knaken Token. You can use this in the platform to easily make a trade.

Payment options

One of the advantages of a broker is usually the extensive range of payment options. With an exchange this is often limited to the use of a credit card, but with Knaken you have numerous payment options. This allows everyone to invest in their favorite crypto. Do you wish to pay with iDeal? Then you can choose from no less than 11 different banks. View all options in the example below.

IMG

Portal.Knaken

Safety

One of Knaken’s core values is safety. Knaken emphasizes this by pointing out to users to take extra measures such as activating 2FA.

2FA verification

A 2FA or two-step verification is an extra security that you can activate. This is done using Google Authenticator. By scanning the unique QR code, you can add Knaken to your Google Authenticator. Every time you sign up on the platform, you will have to use an additional unique code to verify that you, and only you, want to sign up on the platform.

Trading costs

With an exchange we often speak of a taker’s fee and a maker’s fee. These are variable costs associated with trading on an exchange. In the case of a broker, these costs do not apply. But what is a broker’s revenue model and how do they work? They take a share of the transaction costs incurred through the platform.

It is not possible to say exactly how much the trading costs per transaction will be. This is because they do not charge a commission on the price, as an exchange does. How much this cost is transparent and clearly visible before you make a purchase or sale of a certain currency. You can take into account an average of 1% here. Trading through a broker is therefore more expensive than trading directly on an exchange, but you also get a lot in return!

Become an affiliate at Knaken

Would you like to earn a passive income by promoting Knaken to your friends and family? Every user has an affiliate link that he/she can share. When you get a registration via your unique link, you will receive 20% of all profit Knaken makes on their transactions. As a broker, Knaken actually purchases your crypto and charges a certain trading fee for this. You receive 20% of these trading costs from your affiliate.

Partners

Although Knaken is still a young platform, they already have great partners! In addition to Bunq, they also have a partnership with football clubs Sparta and Feyenoord. As a first, we can also announce that AllesOverCrypto has recently become an education partner of Knaken.

Knaken.nl

 

Customer Service

Knaken has a customer service that is immediately available to answer all your questions. Via an interactive live chat you can ask your questions to an employee within seconds. Many exchanges and/or other brokers do not have this function, which means that an investor may be left with a question that he or she would like an answer to as quickly as possible.

By using an interactive customer service and a live chat function on the website, you can immediately contact the team, which creates confidence. Are you hesitating or do you have specific questions? Ask them right away and get an answer in minutes.

Conclusion

A broker gains popularity due to its simplicity and ease of use. More and more investors are finding their way to crypto and want to invest themselves. Often they are overwhelmed by the possibilities and would like guidance in buying or selling their favorite crypto. That is why using a broker is a great alternative where they can easily make an investment through Knaken. Don’t have an account with Knaken yet? Sign up here and invest in your first crypto today!

Knaken currently already has an extensive range of cryptos available and this range will undoubtedly expand even further in the future so that more and more investors find their way to Knaken. For a relatively young platform, they have managed to profile themselves in a short time as real experts with great partnerships including Sparta and Feyenoord. We are therefore curious about how Knaken will continue to evolve in the future!

Do you have any additional questions about Knaken or about another broker? Post it in our EverythingAboutCrypto Facebook group and our experts will answer all your questions. Do you have other crypto related questions? The easiest way is to look up your question in our FAQ. What you can also do is google your question + AllesOverCrypto.”

Header image: Jirsak/Shutterstock.com

 

 

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