Kraken Review 2025: Pros, Cons and How It Compares

By Alexander Reed

Last Updated: Feb 5, 2025

Co-author

By Manisha Mishra

Kraken review

Kraken is one of the leading cryptocurrency exchanges that allows users to buy, sell, and trade over 340 cryptocurrencies. The platform offers a simple sign-up process, making it easy to start buying and selling crypto quickly. Beyond its trading features, it also provides educational resources, 24/7 customer support, and strong security measures. Given its reputation, many people are eager to learn more.

To help you better understand what it offers, we’ve written an in-depth Kraken review. In it, we’ll dive deep into the company’s background, its various products and services, supported cryptocurrencies and trading pairs, fees and commissions, and security measures. We’ll also answer some of the most common questions users have about the platform.

Our Kraken Review: Key Takeaways

Our Verdict

8.4/10

Here are some key takeaways from our Kraken Review:

  • Kraken supports 340 cryptocurrencies for buying and selling
  • Kraken Pro offers tiered fees; higher trading volume means lower costs.
  • Strong security with FIDO2 2FA, SSL encryption, PGP-signed emails, and account timeout settings.
  • The platform offers 24/7 customer support via live chat, email, and phone.
  • Multiple apps are available, including Kraken, Kraken Pro, Kraken Desktop, and Kraken Wallet.
  • Lower liquidity in spot markets can lead to unpredictable trade execution.

Visit Kraken


Overview of Kraken Exchange

kraken review.png

Founded by Jesse Powell in 2011, Kraken is known for its low transaction fees, a wide range of features, and overall security. Following the bankruptcy of former Bitcoin exchange Mt. Gox in 2014, the Kraken platform assisted in processing claims.

The Kraken exchange operates across the United States (except Washington state and New York), Canada, Australia, New Zealand, numerous Asian countries, and the European Union.

Since the exchange was launched, it has raised over $130M in funding. Kraken boasts about its high liquidity, industry-leading security measures, and 24/7 live customer support.

Kraken holds total reserves of its customer funds and employs an independent, cryptographically verified audit to prove to third parties and the exchange’s customers that funds are properly held.

Kraken was the first cryptocurrency company to obtain a bank charter, receiving a Special Purpose Depository Institution license in Wyoming. It has become one of the largest popular exchanges, with a quarterly trading volume of over $207 billion.


Kraken Services and Products

Kraken offers its customers an advanced trading platform for spot trading and margin and futures trading for more experienced users. Kraken offers two different trading platforms – Kraken and Kraken Pro. Read on to learn about the services and products as well as the differences between using Kraken Pro and Kraken. 

Kraken

The main Kraken platform is easy to use and is perfect for beginners. It allows you to quickly and easily buy the best cryptocurrency using a linked bank account, debit card, or credit card (depending on region) and just as easily exchange between different cryptocurrencies. Of course, you only have access to simple buy and sell orders. It offers dynamic exchange fees, multiple-language support, an instant buy feature, a mobile app, and security features.

Kraken Pro

Our Kraken Pro review highlights that this model caters to professional trading with more detailed charts and tools. It allows users to use technical indicators and compare up to four markets simultaneously. Multiple order types are also available, including stop-loss orders, take-profit orders, immediate or cancel (IOC) orders, and reduce-only orders.

In addition, Kraken Pro enables users to customize the entire user interface to arrange their own trading setup and track their entire portfolio in one place. Users can toggle easily between spot trading, margin trading, and staking features for easy asset management.

It offers the same features as Kraken, except for the instant buy option. However, its exchange fees are between 0% and 0.26%, and it provides many additional options, like advanced order options, a desktop application, margin trading, futures trading, a customizable trading interface, and price alerts. 

Anyone with a Kraken account can use Kraken Pro, so you don’t need to sign up separately if you already have one. You need to click on the App Switcher and select the platform you like to use.

App switcher on kraken

Kraken Futures

Kraken Futures is a derivatives platform by Kraken that is available on Kraken Pro. It allows users to trade cryptocurrencies with access to over 300 perpetual futures, with leverage and low fees. Users can benefit from advanced trading analytics and monitor their balances and historical performance from a single portfolio view.

Unfortunately, the Kraken Futures feature is unavailable to users in the United States or other restricted countries

Kraken OTC Desk

For high-volume trades (over $100K), Kraken offers over-the-counter (OTC) services with a 1-on-1 service. Frequent high-volume traders can also receive a dedicated account manager to handle their trading needs. In addition to the deeper liquidity for tighter spreads, it offers a more personalized and private service for high net-worth individuals and institutional clients who need to fill large orders of USDC. The OTC Portal can be accessed through Kraken Pro.

Kraken NFTs Marketplace

Kraken NFTs is currently in withdraw-only mode, meaning users have to move their NFTs to external wallets. The marketplace supported many collections, providing thousands of NFTs under $100. Some of these collections included Williams Racing NFTs, Bored Ape Yacht Club, and CryptoPunks.

Kraken Wallet

This self-custody wallet allows users to store and manage their crypto and NFTs in one place and connect to other Web3 protocols. Open-source software combining the latest encryption and biometric authentication technology secures users’ assets. The wallet offers complete autonomy and a seamless experience. 

While Kraken’s wallet is convenient, we recommend users take self-custody seriously with our highest-rated crypto wallets, which you can learn more about below:

Best Wallet
Type:
Hot Wallet + DEX
Exodus
Type:
Web wallet
Zengo
Type:
Mobile wallet & Exchange
Ellipal
Type:
Hardware Wallet
Trezor
Type:
Hardware wallet
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Staking

As mentioned earlier, Kraken also provides a staking service that allows non-US users to earn a return on assets otherwise held and unused by its users. It is easy to start with staking, and after just a few clicks, you can earn up to 17% annually on some of the best staking cryptocurrencies

Kraken has officially relaunched its staking operations in 39 U.S. states, introducing a new platform that supports 17 different digital assets.


Supported Cryptocurrencies and Trading Pairs

Kraken supports 340 cryptocurrencies, including more established ones and new cryptocurrencies. The Kraken coin list includes some popular ones, like: 

  • Bitcoin ($BTC)
  • Ethereum ($ETH)
  • Dogecoin ($DOGE)
  • Polkadot ($DOT)
  • Uniswap ($UNI)
  • Cardano ($ADA)
  • Polygon ($MATIC)
  • Litecoin ($LTC)
  • Stellar Lumens ($XLM)
  • Solana ($SOL)

Some available stablecoins, such as $USDC, $USDT, and $ETH, have many networks to choose from for withdrawals and deposits. Some are not available in certain countries. $GENS, $AVT,  $PICA, $OTP,  $SXP, and $WETH are currently unavailable for trading but for deposits and withdrawals only.

Kraken Trading Pairs

In addition to supporting some of the best altcoins, Kraken supports over 200 trading pairs. 

Kraken trading pairs

The platform offers flexible funding options, including fiat currency funding, crypto deposits, instant buy methods, and corporate funding.

Deposits and withdrawals can be made via SEPA, SWIFT, wire, and domestic transfers. In almost all cases, they will take 1–5 business days. In our experience, the average deposit takes as little as 24 hours. It’s free to deposit most of the accepted cryptocurrencies, but there’s a small address setup fee in a few cases.

Regarding fiat deposits, CAD and SEPA deposits are free, which is convenient if you’re in the European Union and your location is on the list of SEPA countries.

USA users (except in NY, WA, and TX) may link their bank accounts to fund their Kraken accounts with USD via bank transfer (ACH) without a fee.


Kraken Fees and Commissions 

Kraken’s fee structure varies based on the user activity level and trading method. Kraken fees are usually higher for instant buy/sell orders, where users may be charged a percentage of the transaction plus additional fees based on the payment method. As for Kraken’s deposit and withdrawal transaction fees, here’s what users need to know:

  • They are based on the currency and method used.
  • Funding fees can be percentage-based or coin-denominated. They can be static and dynamic.
  • The platform may include a percentage-based fee to reflect different Kraken-incurred costs properly.
  • Fees shown upon transaction confirmation are client-incurred fees.

The difference between Kraken and Kraken Pro is that the latter uses a maker-taker fee schedule with volume incentives depending on users’ activity in the last 30 days. It has a tiered pricing model; the more you trade, the less you pay. Fees are charged per trade, calculated as a percentage of the trade’s quote currency volume. With specific pairs, the fee can be calculated considering the trade’s base currency, which is sometimes specified when ordering with the Fee Currency option.

Feature

Kraken Fees

Kraken Pro Fees

Instant Buy/Sell Fees

Differ depending on the chosen payment method (account balance, card, ACH).

Not applicable

Spot Trading Fees

0.16% Maker / 0.26% Taker


0.02% Maker / 0.04% Taker

Futures Fees

0.02% Maker / 0.05% Taker

0.02% Maker / 0.04% Taker

Staking Fees

None

None

Withdrawal Fees

Varies by asset

Lower for pro users

Convert Small Balances Fee

3%

Not applicable

Spread Fees

Included in price

Not applicable


Kraken Security

Kraken is widely known as a very trusted exchange after tons of effort and focus on its exchange security. Certified has Kraken rated as the most secure cryptocurrency exchange. So, if you’re wondering whether Kraken is safe for beginners, rest assured that the exchange provides a robust suite of security features designed to safeguard user accounts.

  • FIDO2-compliant 2FAs with Passkeys
  • Email confirmations for new withdrawal addresses
  • Global settings time lock for extreme security when users are away
  • SSL encryption
  • Configurable account timeout
  • No Phone/SMS account recovery
  • Customizable, granular API key permissions
  • PGP signed and encrypted email

Kraken Security Labs conducts comprehensive security assessments on third-party products and services, proactively identifying vulnerabilities, demonstrating potential risks, and implementing solutions to mitigate threats before they can be exploited by cyber threats.

The platform occasionally works with an external auditor to perform a Proof of Reserves audit. It uses advanced hot wallet solutions and cold storage to protect users’ funds.

Is Kraken safe? Although most users have had a positive experience, some have reported being victims of Kraken-focused phishing scams. Despite not being targeted directly through their accounts, the email scams have eventually led to customers having their funds withdrawn from their accounts or their passwords changed. Still, to prevent such incidents from happening again, the exchange puts huge efforts into protecting its users’ accounts, as we’ve seen from the many security features. 

When a user’s account is funded, it’s crucial that they add 2FA. Users can create different two-factor codes for account withdrawals, sign-ins, and trades. 


Availability

Kraken is available in more than 190 countries worldwide and is accessible through mobile apps and desktop devices. We’ll list all the regions where Kraken is available and the devices users can use.

Countries

List of countries and regions where Kraken is available, with several exceptions due to local and international regulations: 

  • Europe: France, Ireland, Poland, Spain, UK, Netherlands, Italy, Germany, Belgium. 
  • North America: United States (with the exclusion of Washington state, New York, and Maine), Canada
  • APAC: Australia

Some prohibited regions include Belarus, Afghanistan, Iraq, Crimea, Donetsk, and Luhansk regions of Ukraine, the Democratic Republic of the Congo, Cuba, North Korea, Iran, Sudan, Libya, Russia, Syria, Japan, and South Sudan.

Devices

Kraken users can enjoy the platform’s benefits through four apps:

  • Kraken Desktop: This is a fully customizable app allowing users to plan, chart, and trade over 800 crypto markets on Windows, Linux, or MacOS. It allows users to customize every detail and provides advanced trader features for custom price alerts, deep technical analysis, ladder trading, and advanced order types. 
  • Kraken app: It is among the best crypto apps, with a simple UI for beginners, and available on Google Play (rated 4.5) and App Store (rated 4.8). It allows users to facilitate quick and convenient crypto transactions and send payments – with custom orders, card purchases, and daily market highlights.
  • Kraken Pro app: The app is available on Google Play (rated 4.7) and App Store (rated 4.7). It provides all the best features and security and features in a mobile-first design for advanced crypto trading and staking on the go.
  • Kraken Wallet: Available on both Google Play and App Store. It offers users a secure and simple way to discover the on-chain world and manage their digital assets easily, as every Kraken Wallet review confirms.

Customer Support and Reviews

Kraken offers 24/7 customer support through live chat, phone, and email. Its team is distributed worldwide and fluent in many languages. It responds quickly and works every day – even on major holidays. Moreover, Kraken’s Support Center provides many comprehensive articles to help users troubleshoot problems. Its support library is based on years of direct client interactions, covering everything from getting started to common questions about the platform.

The reviews on its customer service are mostly positive, praising its response time, industry-leading satisfaction rates, and effectiveness. 

The overall Kraken app review on Reddit is positive. However, there are some criticisms, where users have complained about the high number of requirements set by customer service, like completing identity verification and meeting their requirements within a set timeframe, where users have repeatedly followed up until issues were resolved.

Here are some positive Kraken Reddit reviews:

Kraken platform positive review on Reddit.

Kraken platform user review on reddit

 


Kraken vs.Coinbase

Kraken stands out among crypto exchanges due to its low fees, strong security measures, and deep liquidity. When comparing Kraken to Coinbase, it’s clear that Kraken users benefit from high trading limits, lower fees, and many currency options. In contrast, every Coinbase review mentions the platform’s ease of use and suitability for beginners. 

Exchange

Fees

Security

Regional Availability

Features

Kraken

Maker fee: 0%–0.25%, taker fee: 0.10–0.40% (Kraken Pro); Higher fees for Instant Buy/Sell transactions; Deposit and withdrawal transaction fees are based on the currency and method used

FIDO2-compliant 2FAs with Passkeys, email confirmations for new withdrawal addresses, global settings time lock for extreme security when users are away, SSL encryption, configurable account timeout, no phone/SMS account recovery

Customizable, granular API key permissions

PGP signed and encrypted email

Trading in over 190 countries

Global availability, advanced trading tools, wide crypto selection, low trading fees

Coinbase

3.99% for credit card purchases, 0.50% per trade, and 1.49% for Coinbase bank account or wallet purchases

Two-step verification, insurance in the event Coinbase is breached, biometric fingerprint logins, AES-256 encryption for digital wallets, FDIC-insured USD balances 

Trading in over 100 countries

Easy-to-use interface for beginners, quick withdrawals, global availability, staking


Opening a Kraken Account 

To access Kraken’s services, you should first open an account. Let’s go over the process step by step.

  1. Visit the official Kraken site: https://www.kraken.com.
  2. In the upper-right corner, click the sign-up button.
  3. When the sign-up form appears, enter your email address and create a strong password. 

Kraken- sign up

  1. Read Kraken’s Terms of Service and Privacy Policy. If you agree, check the agree box and click ‘Create account.’
  2. Check for an activation email with an activation key.
  3. Enter the key on the account activation form or conclude the activation by clicking the link in the email. 
  4. Confirm your password, and click ‘Activate Account.’

Keep in mind that all new and existing Kraken users will be required to complete a KYC questionnaire to access its services. 

Is Kraken pro free? Both Kraken and Kraken Pro are free, and no fees are charged for opening an account; fees are only applied when using platform services.

Kraken Referral program to invite your friends

Kraken’s Referral Program allows you and a friend to earn a $10 referral bonus. After your friend signs up for Kraken using your invite link and sells or buys $100 in crypto, you’ll both receive a bonus. 

The program is available in the United States (excluding Washington and New York), Canada, Australia, and some EU countries. To participate, you must adhere to certain terms and conditions, some of them:

1. The friend you refer must live in the same country as you.
2. Your friend must use your invite link to create a new account on the Kraken mobile app and buy or sell at least $100 worth of cryptocurrency within 30 days of signing up.
3. Your friend must not have previously created a Kraken account before signing up with your invite link.

Note: Referrals are currently available on the Kraken app. Buys or sells made on Kraken Pro do not count towards eligibility for receiving a referral bonus. 


Kraken Pros and Cons

Pros

  • Low Trading Fees
  • More Than 340 Cryptocurrencies Available To Trade
  • Advanced Trading Tools
  • Available In Most Countries, Including The US and UK
  • Best Security Rating Amongst All Crypto Exchanges

Cons

  • Has Been A Regulatory Target From US Agencies
  • Futures Trading Not Available In The United States


Kraken Exchange Review Conclusion: Is Kraken Right For You?

To sum up, our Kraken review confirms that it is among the best crypto exchanges, offering a range of services and benefits. The platform allows you to buy and sell various cryptocurrencies and trading pairs while providing excellent trading tools, funding options, and competitive fees.
Our Kraken review highlights that this platform is ideal for both crypto newbies and seasoned traders, thanks to its separate platforms, which are tailored toward different audiences. However, Kraken offers some features that are hard for US-based users to find, like margin trading.

Despite shortcomings and a few negative user reviews, Kraken remains a popular trading platform with a user-friendly interface and broad availability. 

Visit Kraken


Frequently Asked Questions

Is Kraken Safe?

What cryptocurrencies can I trade on Kraken?

What is the disadvantage of Kraken?

Is Kraken trustworthy?

Is Kraken better than Coinbase?

Are Kraken fees high?

Is the Kraken app any good?

Why is it so hard to withdraw from Kraken?

Kraken

8.4

Newbie friendly

8.7/10

Currency support

8.9/10

Platform reliability

7.9/10

Fees

8.2/10

Pros

  • Available worldwide
  • Good reputation
  • CAD and SEPA deposits are free
  • USA ACH deposits are free
  • Advanced trading options (Kraken Pro)

Cons

  • Service availability varies by country
  • Slow support

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Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Alexander Reed
Alexander Reed
Editor

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including... Read More

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