Kraken is easily distinguished as the longest-standing and most dependable cryptocurrency exchange globally. Established in 2011, Kraken has become synonymous with incomparable security, competitive rates, and a feature-loaded trading ecosystem. Still, how does it stack against the big players, such as Coinbase and Binance? Is it the right choice for you? Let’s find out in this Kraken exchange review!
What is Kraken?
Kraken is a US-based, centralized crypto exchange that supports over 417 cryptocurrencies and operates in more than 190 countries. With a quarterly trading volume exceeding $207 billion, Kraken caters to both beginners and advanced traders by offering two main platforms: the basic Kraken interface and Kraken Pro for sophisticated trading needs. Its mission is to make crypto trading secure, transparent, and accessible worldwide.
Unlike most of the other reviews, I will keep it simple (fluff-free!) For newbies, the BASIC Kraken Version and for more experienced traders, the Kraken+
Key Features of Kraken Exchange
Security:
- Never hacked in 13+ years of operation, industry record.
- 95 %+ of user funds are stored in offline cold storage.
- Two-factor authentication (2FA), SSL encryption, and regular proof-of-reserves audits.
- Limited insurance coverage for digital assets.
Kraken Trading Options
- Spot trading with 417+ coins and 700+ trading pairs.
- Margin trading up to 5x leverage.
- Futures trading up to 50x leverage (not available in the US).
- Staking for 17+ assets (limited in the US due to regulations).
- NFT marketplace (beta), OTC desk, and robust mobile apps.
The platform also features a self-custody cold wallet and an OTC desk for high-volume trades. Educational content, including Crypto 101 videos and webinars, helps users at every level.
Some additional interesting features that set Kraken apart include:
- Recurring Buy Orders: Automate your investing by setting up regular purchases of your favorite cryptocurrencies.
- Advanced Charting Tools: Kraken Pro offers customizable charts, technical indicators, and multiple order types for serious traders.
- API Access: For developers and algorithmic traders, Kraken provides a powerful API to automate trading strategies.
- Proof of Reserves: Kraken conducts biannual audits to prove it holds client funds 1:1, boosting transparency and trust.
- Robust Regulatory Compliance: Kraken is registered with major financial authorities in the US, UK, EU, Canada, and Australia, ensuring a high level of regulatory oversight.
User Experience
- Intuitive web and mobile interfaces, including a simplified “Simple Mode” for beginners.
- Kraken Pro offers advanced charting, order types, and low fees for experienced traders.
- 24/7 customer support via live chat and email, though response times can be slow during peak periods.
Kraken Fees: Are They Really Low?
Fee Type | Kraken Pro | Standard/Instant Buy | Notes |
Maker Fee | 0.16% (can go to 0%) | 0.9–1.5% (crypto), 3.75%+card | Tiers based on 30-day volume |
Taker Fee | 0.26% (can go to 0.10%) | ||
Deposit (Crypto) | Free (most assets) | Some niche coins may have setup fees | |
Deposit (Fiat) | Free–$35 | Varies by currency and region | |
Withdrawal (Crypto) | Network fee | e.g., 0.00001 BTC, 0.0005 ETH | |
Withdrawal (Fiat) | Free–$35 | Varies by method and region | |
Staking Commission | Up to 20% | Higher than Binance, lower than Coinbase | |
NFT Marketplace | 2% |
Pro Tip: Use Kraken Pro for spot trading to minimize fees. Instant Buy is convenient but much more expensive.
Deposit & Withdrawal Methods
- Crypto: Deposit/withdraw 150+ coins. Most deposits are free; withdrawals incur network fees.
- Fiat: Supports USD, EUR, GBP, CAD, AUD, CHF, JPY via ACH, SEPA, SWIFT, and local bank transfers. Processing times: 1–5 business days for fiat, near-instant for crypto.
- Limits: Higher limits for verified (Intermediate/Pro) accounts up to $10 million daily for Pro users.
Staking: Passive Income Potential
- Stake 17+ assets (ETH, DOT, USDC, etc.) with APYs up to 24%.
- Flexible and bonded staking options; instant unstaking or higher rewards for locked periods.
- US users face restrictions due to SEC regulations, but staking resumed in 39 states in 2025.
Kraken Pros and Cons
Pros | Cons |
Industry-leading security, never hacked | High fees for Instant Buy and some withdrawals |
417+ cryptocurrencies, 700+ pairs | Staking unavailable in much of the US |
Transparent, competitive fee structure (on Kraken Pro) | Interface and KYC can be complex for beginners |
Seven fiat currencies supported | No copy trading or advanced bot support |
Advanced trading: margin, futures, OTC, staking | Fewer futures markets than Binance |
24/7 support, global reach (190+ countries) | Not available in NY, ME, WA (US); regional restrictions |
Kraken vs. Other Top Exchanges
Feature | Kraken | Coinbase | Binance |
Security | Never hacked, proof-of-reserves | High, FDIC for USD | 2019 hack, strong upgrades |
Fees (Pro) | 0.16%/0.26% (maker/taker) | Up to 0.60% (taker) | 0.10% (with BNB) |
Crypto Selection | 417+ coins | 240+ coins | 1000+ Coins |
Staking | 17+ assets, up to 24% APY (non-US) | 147 assets (US), up to 12% | 100+ assets, 10–15% commission |
Fiat Support | 7 currencies | 3 currencies | 2 currencies (Binance.US) |
User Experience | Advanced, now more beginner-friendly | Best for beginners | Good, but can be complex |
Global Reach | 190+ countries | 100+ countries | 100+ countries, some restrictions |
Customer Support | 24/7 chat/email | Phone, chat, email | Chat, email, slower at times |
Frequently Asked Questions (FAQ)
Is Kraken safe?
Can I use Kraken in the US?
Does Kraken support fiat deposits/withdrawals?
What is the minimum deposit?
How does Kraken compare to Coinbase and Binance?
Does Kraken have a mobile app?
Are there geo-restrictions?
Final Verdict
Kraken remains a top choice for security-conscious traders, international users, and those seeking low fees and a broad crypto selection. Its robust features, transparent fee structure, and global reach make it a strong contender against Coinbase, Binance, and other major exchanges.
However, beginners may find the interface and verification process daunting, and US users face staking limitations. If you value security and regulatory compliance, Kraken is hard to beat. For those chasing the lowest fees or the widest coin selection, Binance may appeal more. And if you’re a US-based beginner, Coinbase’s simplicity might be a better fit.
