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Kraken adds two new options for GBP deposits and withdrawals aiming to speed up the exchange of funds for the users so we are about to find out more in the upcoming crypto news today.

In collaboration with the UK-based payments services provider Clear Junction, all of the Kraken users can now fund their accounts using either the UK’s faster payments service or the Chaps network as per the announcement on the exchange’s blog. The FPS option is much cheaper than the CHAPS with fees of just 1.95 GBP and all of the transfers are sent via FPS and even arrive on the same day but this is not guaranteed.
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On the other hand, the CHAPS network with fees of 21 GBP is intended for bigger payments that need a guaranteed arrival. All of the payments issued over CHAPS are guaranteed to arrive on the same day if issued before the daily 14:00 UTC close down. The latest Kraken announcement further promotes the exchange’s mission to deliver financial freedom by giving the clients more choice when it comes to the management of their assets. Kraken adds the new options as a part of their expansion program and since it is one of the most-respected crypto exchanges it even intends to attract more customers who need to immediately move their funds. The new options will provide the flexibility that lacks some of the competitors.

The blockchain transparency institute published the fifth market surveillance report back in September where it is verified that the crypto exchange volume reports are real. As a part of the methodology through the proprietary algorithm, the BTI will clean all of the wash tradings from the exchange’s volumes:

 “Since the start of 2019, global wash trading has reduced by 35.7% among the real Top-40 exchanges. The process of sharing our data reports with many of these exchanges has resulted in enhanced mechanisms for detecting wash trading accounts and shutting them down.’’

It also shows that the cleanest exchanges continue to be Kraken, Poloniex, Coinbase, and Upbit. Recently, the CEO of Kraken Jesse Powell explained to Ivan on Tech, the popular crypto YouTuber with the demise of altcoins and how strong bitcoin really is. He stated:

 “Altcoin hype has largely died off … probably 99% of them are down by some 95% of their value from their all-time highs.”