Kraken is one of the oldest cryptocurrency exchanges and the largest BTC / EUR exchange. This platform allows you to trade fiat and digital money, including leveraged funds. According to independent company Group-IB, the executives took good care of the cybersecurity of their project. In this, it is ahead of the vulnerable online-service Mt.Gox, which indirectly influenced its creation.
Meaning and History
The American Jesse Powell founded the company in 2011. This happened against the Mt.Gox hack background because Kraken was supposed to be a safe alternative to the troubled Japanese cryptocurrency exchange. In the end, it happened: after the bankruptcy of Mt.Gox, he began to investigate the leak of BTC and undertook to return the lost funds to all affected owners of virtual money.
Although Kraken bills itself as a bitcoin exchange, it supports many other cryptocurrencies, including Zcash, Monero, Litecoin, Ripple, Ethereum, and other popular assets. That is why, and because of its high reliability, more than 4 million traders from different countries trust him.
Users know Kraken as a global exchange with many tools for professionals and beginners and as a concept project with an unusual logo. Its main graphic symbol illustrates the name, which was taken from Icelandic myths. As you know, the Kraken is a fictional creature, a sea monster that destroys ships in the open ocean. The designers depicted it as an abstract silhouette and added a wordmark.
It is not clear why the virtual money exchange service chose this name for itself. Perhaps he wanted to finally “sink” Mt.Gox to take its place in the cryptocurrency market. Or maybe it was an attempt to show its unsinkability because a mythical monster could drag even the largest ship with an experienced crew behind it.
Despite the intimidating meaning of the word “Kraken,” the artists did not render the company’s name in horror style. They used abstract geometric shapes, and what they ended up with bears little resemblance to the legendary monster. If not for the signature below, no one would have even guessed that this is a Kraken. A semicircle with projections is more like a hair comb, which for some reason does not have serrations or the tip of a child’s fork with four round teeth.
In any case, there are no associations with a real Kraken because the designers did not have a goal to scare someone. The lack of corners suggests that the exchange wanted to inspire confidence in traders. This psychological technique works on a subconscious level.
Font and Colors of the Emblem
Below the graphic is the name of the cryptocurrency exchange. The letterforms are reminiscent of a range of free and paid fonts, including Protestant DGL Regular by Digital Graphic Labs and Yoxall Regular by Roger White. Other similar typefaces are Foundation Sans Roman from FontSite Inc. and FreeSans Medium from the GNU FreeFont Project developers. They share similar glyphs, although there are slight differences. It is noteworthy that both “K” is uppercase on the Kraken logo, and all other characters are lowercase, although they have the same size.
The abstract drawing and lettering are combined in color. The designers made them purple with # 5841D8. It is dark enough to stand out clearly against a white background.