this particular cryptocurrency that's
known as a mean currency on its higher
paywall pro
platform this week but rival crypto
exchange kraken
already beat them to the punch starting
today kraken's mobile app goes live
here in the u.s enabling americans all
of them
not just the pros to buy sell or hold
whatever crypto grabs their fancy
here in a fox business exclusive on his
official launch day is kraken ceo
jesse powell okay you officially went
live with this app today
how did the launch go how is everything
going with the numbers and the downloads
that's right still very early uh we've
got a few thousand downloads
so far but you know we wanted to do a
soft launch it's been a pretty slow
rollout we've been in beta for a couple
weeks already
so we're just sort of waiting to see how
things go we want to make sure
everything's perfect before we really
put any marketing effort
into this so um dogecoin has been out on
the on the pro app for a long time
probably since 2014-ish
you know so it's been tradable there but
now everyone in the united states with
the retail app
is able to trade dogecoin super easily
as well starting today
now this was already live in foreign
countries
but you had to wait to get all the
regulatory approval here in the u.s
now you are up and live and operating
make your case at the moment i mean i
know that it's free to use the app but
there
are trading fees can you just clarify
what those fees are
yeah that's right so if you're trading
off of your account balance
um generally if you're swapping between
two crypto currencies the
the fee is around 1.5 percent if you're
funding from your bank account directly
as part of the trade
can be as high as two percent um we do
allow people to to send in wire
transfers ahead of time
rather than connecting their bank
account to every transaction so some
people
do take advantage of that there's
same-day funding
and it can be better long-term for you
know fees so you're not paying sort of
per transaction on the funding fees
but through the bank account connection
that we are supporting now in the united
states
you can do instant buys and sells
directly between
kraken and your bank account you got to
give me
a reason give our viewers a reason why
they should pick your app
over coinbase
well i think we've got we've got more
coins that are interesting to people
than coinbase
um you know i think there's a lot of
points to comparison i think we've got
a really excellent track record of
customer service and i think for the new
consumer coming into crypto really
having someone to talk to
uh we've got live chat 24 7. you know
there's always someone available and
we're really well known for
for being able to help people sort of uh
bridge their way into crypto you know
when they're not really comfortable with
the space so far so i would say like
that ability to hold the hand and make
things really easy for the the consumer
who's newly getting into the space
would be a main advantage for us
give me um one of the more obscure coins
that people can trade on
your platform versus that of coinbase
oh there are a lot of obscure coins out
there you know we trade 60-plus
coins i'm not totally you know familiar
with with uh where the overlap is with
coinbase or not
um we've been i think a little bit more
aggressive historically obviously you
know we were super early with dogecoin
and a number of other coins i think
monero is one coin that is not supported
on coinbase
uh so i'd say we've been a bit more
aggressive and early
with some of the coins where they have
historically i think
just been more conservative so you'll
probably see
new things appear on crack and more
often than you see them appear on
coinbase
yeah you know and and in the end though
i i have to say
we're far from the end we know that
there are regulatory overhangs that we
don't know what's going to happen here
in the united states
there are all kinds of questions a
single tweet from an elon musk for
example can
tank the market in the blink of an eye
what gives you
somebody who is elbow deep into all of
this
the indication that the floor isn't just
suddenly going to drop
out from under cryptocurrency i mean
we're looking at bitcoin it it's a 37
800 right now it had been at 64 000 just
uh
six weeks ago give me what you see a
window into that that
that really gives you hard fast facts
that this is
for real and here to stay
bitcoin is still up 200 plus percent
year over year
and you know if you just look back over
the 10 years i've been in the space for
for 10 plus years now you know when i
got in it was a dollar
and you have ups and downs you know it's
it's a roller coaster you really need to
have the stomach
to to be able to to hold through these
dips and i think if you just look at the
chart long term
there's no question that this has
staying power there they're all are
these
so-called hodlers of last resort these
people who understand the fundamentals
of bitcoin
and uh are just willing to buy it to buy
these dips and to keep accumulating
over time as much as they can people see
the long-term
trajectory of this and you know we're
seeing numbers about inflation
of the us dollar i mean even the the
quote-unquote like official numbers are
our record now for uh recent history
so i think you know as an alternative to
the
the savings account which is just losing
money you know you look at bitcoin
something with the finite supply
um the other fundamentals of it you know
it just makes sense long term and you
see that the size of the pie growing
there are
more and more things becoming tokenized
art
video game items you know the space is
growing tremendously
well um we're watching the space very
closely and you're very much a part of
it thank you for choosing
the clayman countdown to unveil the big
app moment thank you so much and good
luck to you jesse jesse powell
of kraken