I’ve been diving into Kraken's new desktop app, and I have to say, it’s an interesting piece of software. Designed for active traders, it aims to provide a seamless experience with advanced tools. But here’s the kicker: it comes right after the retirement of Cryptowatch, a platform many traders loved. So, let’s break this down.
First off, let’s talk about what this app does well. It integrates some pretty slick features that were popular among Cryptowatch users. You’ve got full access to spot and futures markets, which is essential if you’re trying to manage your portfolio effectively. One feature that caught my eye is ladder trading. This allows you to set multiple orders at different price levels—great for those who like to scale in and out of positions without moving the market too much.
Then there’s the auto-join function that places orders as market prices change. It’s designed to keep you in the game without having to constantly adjust your orders manually. If you're someone who trades frequently, these features could really enhance your efficiency.
But before we all jump on the bandwagon, let’s consider some downsides. For one, Cryptowatch was a beloved platform and its discontinuation has left a sour taste in many mouths—including mine. Sure, Kraken is pushing its Pro version and claiming it has similar functionalities, but transitioning can be a hassle for those who have built their workflows around Cryptowatch.
Another concern is performance claims based on Rust—a programming language touted for its speed and memory safety. While I get that low-latency performance is crucial for high-frequency trading (HFT), one has to wonder: how much better can it be? And will any potential bugs or issues down the line negate those performance benefits?
Let’s not ignore Kraken's recent expansions either—like kBTC and plans for an Ethereum Layer 2 solution called Ink set for 2025. These moves seem almost reactive; as if they’re trying to catch up with other exchanges that already offer similar services.
In conclusion, while Kraken Desktop offers some compelling features aimed at advanced traders—traders like me—it also raises questions about its necessity given the current landscape of crypto exchanges. Is it worth leaving behind something familiar? Or are we just witnessing another step in an ongoing evolution?
