Copy of Review 1 - Blank

Kraken Review

Last Updated: Apr 14, 2024  |  Published: Apr 6, 2022

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Our Review 

Kraken offers 250+ 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 

What Is Kraken?

Kraken has been operating since 2011 and has established itself as one of the world's oldest and safest cryptocurrency exchanges. They are based in San Francisco and have become one of the largest crypto exchanges in the world with over 10 million users.

When using Kraken, you can expect to find industry-leading security, beginner and advanced trading tools, staking with zero fees, 24/7 customer support, and more.

Background Info

  • Founded in 2011
  • 10M+ Clients
  • 1800+ employees
  • Supported in 190+ countries
  • Based in San Francisco, USA

Fees & Spread

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


Crypto Withdrawal Fees



Minimum Withdrawal


0.00002 BTC

0.0005 BTC


0.0035 ETH

0.005 ETH





0.001 XLM

25 XLM

Kraken Features

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 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
  • (premium trading terminal)

🔒 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.

⚠️ 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 Alternatives


OKX is a fast-growing exchange with a a sleek user-interface and low fees.

  • 400+ coins, 180+ futures
  • High volume + low fees
  • 100x leverage
  • Fewer altcoins
  • Unavailable in some areas

The world's largest exchange by trading volume with low fees and tons of features.

  • 400+ coins, 300+ futures
  • Highest volume + low fees
  • 125x leverage
  • Unavailable in some areas
  • Less beginner-friendly

BYDFi is one of the top no KYC, no VPN exchanges where anyone can sign up and trade.

  • 500 coins, 180+ futures
  • No KYC, No VPN
  • 200x leverage
  • No fiat trading pairs
  • Not beginner-friendly
Kraken Exchange


Trade 90+ cryptocurrencies!

Best Altcoin Exchanges


Best Overall


MEXC Global

200x Leverage



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