Copy of Review 1 - Blank

Kraken Review

Last Updated: Aug 1, 2022  |  Published: Apr 6, 2022


This post may contain affiliate links. Learn more.

Our Review 

Kraken offers 190+ coins, 0.16/0.26% Maker Taker fees and industry-leading security. Overall, it's a great platform for professional trading, low spreads, and secure staking. The downsides are it's not beginner-friendly and there is limited altcoins compared to other places.

Where It Shines:

  • Good Option For Staking: Stake about 15 cryptocurrencies on one of the most secure crypto exchanges in the world. Rewards range from 1% to 23%
  • Best Reputation: Kraken has never had any hacks or incidents and it's also one of the oldest platforms founded in 2011. They take security very seriously
  • Pro Trading: Powerful trading platform with many trading pairs, different order types, live order books, margin, futures, and more
  • Lots of USD & EUR Trading Pairs: Kraken supports 7 fiat currencies, but has the most trading pairs for USD and EUR
  • Low Spreads & High Liquidity

Where It Falls Short:

  • Not The Most Beginner-Friendly: Easier platforms available 
  • Number of Altcoins: Kraken offer 90+ coins, far less than some competitors like Binance (600+), FTX (190+), KuCoin (700+), etc
  • Geo Restrictions: Double check coins, futures and margin trading available in your region 
Kraken Exchange

Overview

Total Fees & Spreads: Coming Soon

Coins Offered

190+

Total BTC Purchase Fee

?

Total BTC Selling Fee

?

BTC Spread

0.00%

Trading Fee

0.16% Maker

0.26% Taker

Fiat Wallets

7 (USD, EUR, CAD, GBP, JPY, CHF, AUD)

BTC Withdrawal Fee

0.00002 BTC

Notable Features

Advanced trading

Staking, Margin

24/7 Support

Great reputation

Supported Countries

Kraken Exchange

What Is Kraken?

KrakenKrakenKraken is one of the world's oldest and most reputable cryptocurrency exchanges founded in 2011. They are based in San Francisco and have become one of the largest crypto exchanges in the world with over 1800 employees.

When using Kraken, you can expect to find industry-leading security, intermediate and advanced trading tools, Staking features and more.

Kraken Stats

  • Founded in 2011
  • 1800+ employees
  • Available in 100+ countries
  • Based in San Francisco, USA
  • Might go public in 2022

Best Alternatives

Here are the best crypto exchanges around the world that are supported in many countries. We assessed 21 platforms across 40+ variables and 950+ data points.  

Binance
  • 600+ cryptocurrencies
  • Lowest spreads and fees in the industry
  • Most features in the industry
  • Not beginner friendly
Kucoin
  • Low spreads and fees if you fund your account with crypto
  • 700+ cryptocurrencies
  • Trade anonymously (all you need is an email right now)
  • Not beginner friendly
Crypto.com
  • Best crypto credit cards
  • Earn interest on 40+ coins
  • Lots of fiat currencies supported
  • High spreads
  • User interface
Coinbase
  • Best reputation, publicly traded company
  • Best for beginners
  • Beginner + Advanced trading
  • Very high fees overall
FTX
  • Low trading fees and low overall fees
  • Lots of advanced features
  • Hard for beginners
RankFinance

Find the best crypto exchanges with our free comparison tool

Compared

Compare the world's most popular cryptocurrency exchanges:

Name

Coins

# of Features

Standard Trading Fee

Supported Countries

Fiat Wallets?

BTC Withdrawal Fee

Website

240+

15+

0.10%

190+

No

0.0005 BTC

Binance

Binance ๐Ÿ†(#1 overall)

600+

30+

0.10%

100+

Yes

0.0005 BTC

150+

15+

0.20%

?

Yes

0.0004 BTC

750+

10+

0.25%

180+

No

0.0005 BTC

50+

5+

0.50%

?

Yes

0.0005 BTC

300+

5+

0.75%

100+

Yes

0.0003 BTC

140+

15+

0.10%

180+

No

0.0005 BTC

170+

10+

3.99%

100+

Yes

Dynamic

110+

5+

0.60%

100+

Yes

Dynamic

30+

10+

0.10%

150+

Yes

0.15%

250+

20+

0.40%

90+

Yes

0.0006 BTC

40+

10+

0%

50+

Yes

0.50%

190+

20+

0.07%

180+

Yes

Free/Dynamic

1000+

30+

0.195%

190+

No

0.001 BTC

60+

15+

1.49%+

60+

Yes

0.001 BTC

60+

10+

0%

100+

Yes

0.0005 BTC

500+

20+

0.20%

130+

Yes

0.0005 BTC

190+

10+

0.26%

190+

Yes

0.00002 BTC

500+

20+

0.10%

190+

No

0.0005 BTC

350+

25+

0.10%

100+

No

0.0002 BTC*

300+

10+

0.155%

100+

No

0.0005 BTC

130+

10+

0%

180+

Yes

0.0003 BTC + $2.99

Fees & Spread

Price Test & Spread

Price Test (On Apr x, 2022)

Prices

Total BTC Purchase Fee

0.00%

Total BTC Selling Fee

0.00%

Trading Fee

0.16% Maker

0.26% Taker

BTC Spread

0.00%

BTC Buy Price

$00,000

BTC Sell Price

$00,000

Ref. Price Difference

Buy:

Sell:

Reference Price (Google)

$00,000

More Information

We tested 20 cryptocurrency exchanges at the same time to compare the true fees. This data was collected on Mar 2, 2022 at 4:41pm and is subject to change since spreads and prices change daily.

  • *Total BTC Purchase Fee = Trading Fee + Buy Reference Price Difference
  • *Total BTC Selling Fee = Trading Fee + Sell Reference Price Difference

Keep in mind, there could be additional fees for depositing/withdrawing fiat. Check fees for your local fiat currency if it is supported on this exchange.

You can compare all platforms tested on this page

Trading Fee Discounts

Kraken Pro Trading Fees

Deposit & Withdrawals

Kraken offers 7 fiat wallets which you can deposit, hold and withdraw in your account. However, most of the fiat-crypto trading pairs are in USD and EUR which is something to keep in mind. We recommend checking the deposit/withdrawal options and fees for your local currency to see if Kraken is worth it. 

Fiat Currencies

Fiat Wallets

(Deposit/Withdrawals supported)

USD - United States Dollar

EUR - Euro

CAD - Canadian Dollar

GBP - Pound Sterling

JPY - Japanese Yen

CHF - Swiss Franc

AUD - Australian Dollar

Credit/Debit Card

Yes (5.25% fee)

P2P Exchange

No

Crypto Withdrawal Fees

Type

Fee

Minimum Withdrawal

Bitcoin

0.00002 BTC

0.0005 BTC

Ethereum

0.0035 ETH

0.005 ETH

USDT

20 USDT

40 USDT

XLM

0.001 XLM

25 XLM

Platform & Features

List of Features:

  • iOS, Android and Web app
  • 90+ Cryptocurrencies
  • Simple & Advanced Orders
  • Kraken Pro Terminal
  • Margin
  • Futures
  • Staking
  • Kraken Earn (Staking)
  • 24/7 Customer Support
  • OTC & Institutional accounts

1. iOS, Android and Web App

Kraken can be accessed on all of your devices and they have three mobile apps, Kraken, Kraken Pro and Kraken Futures.

2. Simple & Advanced Orders

Kraken Simple Order

Simple Orders

Kraken Advanced Order

Advanced Orders

3. Kraken Pro (Advanced Trading)

Kraken Pro Trade

Kraken's professional trading terminal provides many customizable charts, live trade views, an order book and depth chart. It also lets you apply overlays and indicators and switch between a wide of variety of themes.

Advanced traders can also try CryptoWat.ch which is Kraken's paid trading terminal with more premium features.

4. Margin

5. Futures

Kraken Futures

Advanced traders can access Kraken Futures on the browser. There is also a dedicated Kraken Futures mobile app.

6. Kraken Earn (Staking)

Kraken Earn Staking
  • Stake 10+ cryptocurrencies
  • Rewards ranging from 1%-23% APY
  • Fixed and flexible staking options
  • Rewards paid out weekly
  • On one of the most secure and trusted crypto exchanges in the world

7. Other Features

  • API Keys Management
  • Kraken Learn
  • Bug Bounty Program
  • Affiliate Program
  • Cryptowat.ch (premium trading terminal)

๐Ÿ”’ Security

Company Security Features

  • Founded in 2011 (never had any hacks)
  • Holds 95% of crypto in offline cold storage that's geo-distributed
  • Kraken claims to hold full reserves and has a proof of reserves page
  • Regulated and licensed in multiple markets
  • All servers are in cages and monitored 24/7 by cameras and armed guards
  • KYC required (must prove identity to make trades)
  • All personal information is encrypted on multiple levels
  • They hire multiple security teams to test their systems
  • 24/7 automatic monitoring for suspicious activity
  • Bug bounty program - get paid to find vulnerabilities and security flaws
  • See the rest here

User Security Features

Kraken has lots of security features you can toggle on and off to keep your account safe:

  • Multiple 2FA options and settings (Google Authenticator, Yubikey, 2FA for trades etc)
  • 2FA and email confirmations for withdrawals
  • Configurable account timeout
  • View Account Login Activity (see login locations, IP addresses, devices, etc)
  • Add Trusted Devices
  • View live website status for real-time updates
  • Global Settings Lock (disables making changes to your account for a period of time)
  • PGP codes to verify legitimate emails
  • Dedicated 24/7 support for urgent issues

Can You Trust Kraken?

Yes, Kraken is one of the oldest and safest cryptocurrency exchanges in the world. They hold 95% of crypto in cold storage, have never had any hacks (founded in 2011), and offer many security features like 2FA and more.

โš ๏ธ Although Kraken is safe, over 50% of platforms we tested have had hacks or incidents in the past. We strongly recommend storing and protecting your crypto on a non-custodial wallet where you own the private keys. Preferably, a reputable hardware wallet like the Ledger Nano X.

Customer Support

Kraken has good support overall that you can contact 24/7 via live chat on their website. They also offer phone support during business hours, an extensive help section with FAQs and articles and a live website status. There is also a live chat dedicated for urgent issues such as account security where you can speak to someone quicker.

Kraken Customer Support
Kraken Exchange

Kraken

Trade 90+ cryptocurrencies!

Best Global Exchanges 2022

Binance

1. Binance

Kucoin Exchange

2. KuCoin

OKX

3. OKX