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Kraken Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
Kraken logo
3.67
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit Kraken

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Kraken is more than just an exchange; it’s a thriving pirate republic of the digital age, a place where traders can navigate the lucrative waters of cryptocurrency with confidence. With its robust set-up, comprehensive features, and a crew dedicated to user support, Kraken offers a sea of opportunities for those seeking to claim their share of digital doubloons.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Wide range of cryptocurrencies available
  • Strong security measures
  • Advanced trading features
  • Supports fiat-to-crypto transactions
  • Educational resources for beginners
  • Low trading fees

Cons

  • Complex interface for new users
  • Limited customer service options
  • No credit card deposits for US customers
  • Occasional slow performance during peak times

Quick Summary

Headquarters Location International
Fiat Currencies Supported USD, AUD, GBP, CAD, EUR + 1 other
Total Supported Cryptocurrencies 233+
Trading Fees 0.06% - 0.16%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Paypal, Apple Pay, Google Pay, PayID, Osko
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Embark on a voyage through the depths of the cryptocurrency ocean with the Kraken exchange, a platform as formidable and deep as the mythical sea monster it’s named after. With its tentacles reaching across the globe, Kraken offers a treasure trove of crypto trading options for seasoned seafarers and new recruits alike.

Kraken homepage

Embark on a journey with the Kraken exchange, a platform as deep and wide-ranging as the ocean itself. In the world of cryptocurrency exchanges, Kraken is a beacon, guiding traders through the volatile waves of digital finance.

As traders set sail on their crypto ventures, Kraken provides a map to navigate these waters with confidence, offering a plethora of trading possibilities for adventurers of all experience levels. The platform stands as a testament to the evolution of the crypto market, adapting and growing with every shift in the digital tide.

About Kraken

Founded in the murky waters of the financial world, Kraken surfaced in 2011 as a beacon of hope for those navigating the burgeoning crypto seas. Its voyage is marked by a commitment to security and the democratization of currency, charting a course through the uncharted territories of digital assets.

As a titan of industry, Kraken has weathered many a storm, becoming one of the go-to ports for crypto traders around the world.

Kraken features

Since its inception in the early days of cryptocurrency, Kraken has sailed through significant market fluctuations and regulatory changes, emerging as a resilient and adaptable platform. Its history is a tapestry of innovation and tenacity, entwined with the growth of the cryptocurrency industry itself.

As the digital asset landscape has expanded, so too has Kraken, adding new coins and features to meet the ever-growing demand of its users. The exchange’s journey is marked by strategic partnerships and expansions, reflecting its role as a prominent player in a global financial movement.

Kraken has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, Telegram, TikTok and YouTube.

Kraken has a mobile app on both the Apple App Store and Google Play.

Kraken Supported Cryptocurrencies

Kraken supports trading on over 233 cryptocurrencies on their platform. This exchange currently supports 26 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Chainlink (LINK)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Shiba Inu (SHIB)
  • Uniswap (UNI)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Immutable (IMX)
  • Aptos (APT)
  • Ethereum Classic (ETC)
  • Cosmos (ATOM)
  • Stacks (STX)
  • Filecoin (FIL)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Kaspa (KAS)

View all cryptocurrencies Kraken supports

  • 1INCH
  • AAVE
  • ACA
  • ACH
  • ADA
  • ADX
  • AGLD
  • AIR
  • AKT
  • ALCX
  • ALGO
  • ALICE
  • ALPHA
  • ANKR
  • ANT
  • APE
  • API3
  • APT
  • ARB
  • ARPA
  • ASTR
  • ATLAS
  • ATOM
  • AUDIO
  • AVAX
  • AVT
  • AXS
  • BADGER
  • BAL
  • BAND
  • BAT
  • BCH
  • BICO
  • BIT
  • BLUR
  • BLZ
  • BNC
  • BNT
  • BOBA
  • BOND
  • BRICK
  • BSX
  • BTC
  • BTT
  • C98
  • CELR
  • CFG
  • CHR
  • CHZ
  • COMP
  • COTI
  • CQT
  • CRV
  • CSM
  • CTSI
  • CVC
  • CVX
  • DAI
  • DASH
  • DENT
  • DOGE
  • DOT
  • DYDX
  • EGLD
  • ENJ
  • ENS
  • EOS
  • ETC
  • ETH
  • ETHW
  • EUL
  • EURT
  • EWT
  • FARM
  • FET
  • FIDA
  • FIL
  • FIS
  • FLOW
  • FLR
  • FORTH
  • FTM
  • FXS
  • GAL
  • GALA
  • GARI
  • GENS
  • GHST
  • GLMR
  • GMT
  • GMX
  • GNO
  • GRT
  • GST
  • GTC
  • HDX
  • HFT
  • ICP
  • ICX
  • IDEX
  • IMX
  • INJ
  • INTR
  • JASMY
  • JUNO
  • KAR
  • KAVA
  • KEEP
  • KEY
  • KILT
  • KIN
  • KINT
  • KNC
  • KP3R
  • KSM
  • LCX
  • LDO
  • LINK
  • LMWR
  • LPT
  • LRC
  • LSK
  • LTC
  • LUNA
  • LUNA2
  • MANA
  • MASK
  • MATIC
  • MC
  • MINA
  • MIR
  • MKR
  • MLN
  • MNGO
  • MOON
  • MOVR
  • MSOL
  • MULTI
  • MV
  • MXC
  • NANO
  • NEAR
  • NMR
  • NODL
  • NYM
  • OCEAN
  • OGN
  • OMG
  • ORCA
  • OTP
  • OXT
  • OXY
  • PARA
  • PAXG
  • PEPE
  • PERP
  • PHA
  • PICA
  • PLA
  • POLIS
  • POLS
  • POND
  • POWR
  • PSTAKE
  • PYUSD
  • QNT
  • QTUM
  • RAD
  • RARE
  • RARI
  • RAY
  • RBC
  • REN
  • REP
  • REPV2
  • REQ
  • RLC
  • RNDR
  • ROOK
  • RPL
  • RUNE
  • SAMO
  • SAND
  • SBR
  • SC
  • SCRT
  • SDN
  • SEI
  • SGB
  • SHIB
  • SNX
  • SOL
  • SPELL
  • SRM
  • STEP
  • STG
  • STORJ
  • STX
  • SUI
  • SUPER
  • SUSHI
  • SXP
  • SYN
  • T
  • TBTC
  • TEER
  • TLM
  • TOKE
  • TRU
  • TRX
  • TUSD
  • TVK
  • UMA
  • UNFI
  • UNI
  • USDC
  • USDT
  • UST
  • WAVES
  • WAXL
  • WBTC
  • WETH
  • WOO
  • XCN
  • XLM
  • XMR
  • XRP
  • XRT
  • XTZ
  • YFI
  • YGG
  • ZEC
  • ZRX

Trading Experience

Kraken’s deck is set up for both the experienced sailor and the greenhorn. Its trading platform is a dynamic battleground, offering everything from basic trading features for budding pirates to advanced trading charts for the seasoned swashbuckler.

Access to margin trading is like having an arsenal of cannons at one’s disposal, giving traders added firepower in their quest for riches.

The trading experience on Kraken is akin to charting a course with a reliable compass in hand. Whether a trader prefers the simple trade winds of basic transactions or the challenging gusts of advanced trading, the platform offers diverse tools to match.

Advanced features, like access to margin trading, provide traders the opportunity to amplify their strategies, much like a ship catching a strong wind to surge ahead. Kraken ensures that every trader, from the most seasoned to the freshest greenhorn, has the means to navigate their own unique path to success.

Kraken exchange marketing

Kraken Fees

On the open sea of cryptocurrency trading, understanding the currents of fees is crucial for any captain of the digital realm. Kraken’s fee structure operates on a tiered system, akin to the layers of the ocean – the more you traverse, the deeper you go.

This system encourages traders to hoist their sails and trade more volume, as doing so may lead to lower fees like catching a favourable wind.

The fee structure at Kraken is as dynamic as the ocean’s tides, rewarding explorers who navigate its waters frequently with a tiered system that can reduce costs over time. This approach recognises and incentivises the loyalty and activity of its users, much like a captain rewarding the most dedicated and hard-working crew members aboard a ship.

It is a clever dance with the currents of supply and demand, as traders weigh their strategies against the potential savings on offer.

Type Fee
Deposit Fee (Bank Transfer) $0 USD - $5 USD
Deposit Fee (Credit/Debit Card) Not Listed
Trading Fee 0.06% - 0.16%
Withdrawal Fee (Bank Transfer) $0 USD - $35 USD

Kraken supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.00005 BTC compared to the industry average of 0.000075 BTC. So Kraken has a fee that is below the industry average by 33.33%.

Kraken has a maker/taker fee schedule which you can see below.

30- Day Volume (USD) Maker Taker
$0 – $50,000 0.16% 0.26%
$50,001 – $100,000 0.14% 0.24%
$100,001 – $250,000 0.12% 0.22%
$250,001 – $500,000 0.10% 0.20%
$500,001 – $1,000,000 0.08% 0.18%
$1,000,001 – $2,500,000 0.06% 0.16%
$2,500,001 – $5,000,000 0.04% 0.14%
$5,000,001 – $10,000,000 0.02% 0.12%
$10,000,000 – $100,000,000 0.00% 0.10%
$100,000,000 – $250,000,000 ** 0.00% 0.08%
$250,000,000 – $500,000,000 ** 0.00% 0.06%
$500,000,000+ ** 0.00% 0.04%

Security - Is Kraken Safe?

Navigating through treacherous waters requires a sturdy ship, and Kraken’s hull is reinforced with robust security measures. It operates within a strict regulatory framework, ensuring compliance with the necessary authorities to safeguard its passengers’ treasure.

The security, much like a well-fortified galleon, is designed to protect against the threats of the high crypto seas.

Kraken’s security measures are a fortress, protecting its vault from threats of the digital deep. The exchange employs cutting-edge technology and a layered defence strategy to shield its users’ assets.

From two-factor authentication to sophisticated surveillance systems, the platform’s security protocols are a bulwark against the pirates of the crypto world. This unwavering commitment to safety assures traders that their digital treasure remains secure under Kraken’s vigilant watch.

Kraken Customer Support

Should a storm hit or mutinous queries arise, Kraken’s crew stands ready. The customer support is the crow’s nest, keeping a vigilant eye out for any issues that traders might face.

From direct helplines to treasure maps in the form of FAQs and support articles, Kraken ensures that every member of its fleet is well-attended to.

At Kraken, customer support stands as the lighthouse, guiding traders through the occasional fog of queries and concerns. The support team is the vigilant lookout, ready to assist with a variety of concerns, ensuring that traders never find themselves adrift.

This commitment to responsive and comprehensive customer service is a cornerstone of Kraken’s operations, reinforcing the trust and loyalty of the exchange’s vast community of traders.

Kraken support

Kraken Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Kraken

  1. Create Account - Visit the Kraken website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • PayID
  • Osko

Kraken Alternatives

Binance logo

Binance

3.27
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
359+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others

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OKX logo

OKX

3.75
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
0.06% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX
Bybit logo

Bybit

3.50
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
341+

Trading Fees
0.04% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 160 others

Visit Bybit

Final Thoughts

In the vast ocean of crypto exchanges, Kraken stands out as a formidable vessel, equipped with an array of trading features and a stalwart reputation. Its commitment to providing a secure harbour for traders to dock makes it a worthy consideration for anyone looking to brave the high seas of digital currency trading.

In the vast and ever-changing world of digital finance, crypto exchanges like Kraken play a pivotal role. They act not only as marketplaces but also as harbours of innovation, shaping the future of trading and investment.

The cryptocurrency industry continues to evolve, with exchanges at the helm, steering towards a future where digital assets are increasingly integrated into our everyday financial landscape.

Kraken FAQs

Kraken is recognized as one of the well-established and legitimate cryptocurrency exchanges, operating since 2011. It has built a reputation for its broad range of supported cryptocurrencies and services, including offering a platform for trading various digital assets.

If you’re wondering how Kraken fares against competitors in the crypto world, our articles provide detailed comparisons for Coinbase vs Kraken, Gatehub vs Kraken, Kraken vs Bitstamp, Kraken vs Gemini, and Poloniex vs Kraken.

As with any trading platform, there is always the risk of financial loss when using Kraken. Market volatility, trading decisions, and security risks can all contribute to the potential for losing money.

Kraken employs a variety of security measures to protect user funds, such as two-factor authentication and encrypted email communications. Nonetheless, no platform can guarantee absolute safety, and it’s important for users to use strong personal security practices.

There are no current reports suggesting that Kraken is in trouble. It is advisable to stay updated on the latest news and perform due diligence when considering the use of any financial platform.

Kraken is not an Australian exchange; it is a US-based cryptocurrency exchange. However, it offers services to many countries around the world, including Australia.

Kraken operates legally in the jurisdictions where it is allowed to offer its services. It complies with various regulatory requirements necessary to operate in each region.

Yes, Kraken operates in Australia and provides Australian users with access to its cryptocurrency trading platform.

Kraken, like many other financial institutions, may comply with local tax laws and could be required to report to authorities such as the Australian Taxation Office (ATO) to ensure compliance with Australian tax regulations. Users should consult a tax professional for their personal tax obligations.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

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