Founded in 2011, Kraken has been around longer than most of its competitors in the crypto space. The cryptocurrency exchange has been providing services to users for more than a decade and has earned a solid reputation for its security and reliability. It offers a wide range of cryptocurrencies and professional-grade trading features. The platform’s competitive fees, advanced trading options, and robust regulatory compliance enhance the trust of its worldwide users. In addition, independent auditors have ranked Kraken among the top crypto exchanges in terms of security and customer services.

This review of the Kraken Exchange will explore its features, fees, and security. Additionally, it will help you find what keeps Kraken a leading player in the crypto industry.

Understanding Kraken

Headquartered in San Francisco, U.S.A., Kraken is a reputable cryptocurrency exchange founded by Jesse Powell in 2011. The centralized exchange is one of the oldest in the crypto space. It has built a strong reputation for supporting various digital assets, regulatory compliance, and robust security. As of May 2025, the platform supports over 400 cryptocurrencies, including major names like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), as well as several altcoins and stablecoins.

Kraken offers a diverse combination of beginner-friendly features and advanced trading tools. What sets it apart from its competitors is the basic buy and sell functionality for casual users and advanced trading features like Spot, Margin, and Futures contracts for professional traders. Users can access professional trading tools like OTC trading and advanced order types in the Kraken Pro platform. In addition, Kraken offers more than 950 trading pairs, making it an ideal exchange for crypto users.

The crypto exchange also allows users to generate passive income through staking digital assets. Kraken supports a variety of deposit and withdrawal methods and enables users to buy cryptocurrencies with seven fiat currencies: US Dollar (USD), Canadian Dollar (AUD), EUR (Euro), British Pound (GBP), Swiss Franc (CHF), and Japanese Yen (JPY).

The cryptocurrency exchange complies with various regulatory requirements in several jurisdictions for smooth operations. Additionally, it secures users’ funds with advanced security measures, such as two-factor authentication, KYC (Know Your Customer) procedure, SSL encryption, and more.

Key features of the Kraken Exchange:

• Kraken offers a user-friendly interface, making it viable for everyone to use the platform without any hassle.
• It supports a wide range of cryptocurrencies, offering over 400 digital assets.
• Kraken Pro provides seasoned traders advanced trading tools, order types, and deeper market analysis.
• The exchange is known for its enhanced security, thanks to reliable security measures like 2FA and SSL encryption.
• Users can earn passive income on the platform by staking cryptocurrencies.
• Kraken supports around seven fiat currencies for deposits and withdrawals.
• Kraken’s mobile app is tailored for beginner and professional users and has advanced functionality.
• The exchange has 24/7 customer support to address the users’ queries.

Licensing and Regulations

The Kraken Exchange strictly follows licensing and regulations. The exchange complies with rules and regulations in all jurisdictions in which it operates.

It holds the following licenses in various jurisdictions:

• FinCEN in the US.
• FCA in the UK.
• FINTRAC in Canada.
• FSA in Japan.
• AUSTRAC in Australia.

Kraken has been accelerating the global adoption of digital assets since its launch in 2011. It offers deep liquidity, and its quarterly trading volume exceeds $207 billion. Currently, the platform serves over 15 million users in more than 190 countries.

The exchange is available to residents in the U.S.A., but it faces certain restrictions in some areas like Washington (WA), Maine (ME), and New York (NY). However, Kraken faces restrictions in several countries: Afghanistan, Iraq, Cuba, Central African Republic, Libya, Namibia, South Sudan, Yemen, Tajikistan, North Korea, Somalia, Guinea-Bissau, Congo, Eritrea, Syria, and Mali.

How to Create an Account on Kraken?

To get started with Kraken, users first need to create an account on the exchange.

Kraken’s account creation process is straightforward; you need to visit kraken.com.

On the home page, click on Sign Up to start the account registration process.

On the Sign In page, choose between the account type. Kraken offers Personal Account and Business Account options. Users who want to trade independently on the exchange can open a Personal Account, while users who want to deposit funds and trade on the exchange on behalf of a business should go for a Business Account.

After selecting the account type, fill in all the essential details, such as your email address, password, country of residence, and country state/province, and agree to the terms of services and privacy policy.

You will then be asked to provide the code sent to the email address you provided. After providing it, click on Activate Account to start the verification process.

KYC Procedure on Kraken

Kraken supports the KYC (Know Your Customer) procedure to meet regulatory compliance and ensure a safe trading environment. This procedure helps the exchange protect user funds and limit illicit activities like money laundering.

The exchange offers two types of verifications: intermediate and pro. You can check the difference between these levels in the following table:

After providing the details for account creation, the next procedure is completing KYC on Kraken.

After this, provide additional information, such as the purpose for using the exchange, income resources, expected monthly deposits and withdrawals, and expected monthly trades.

Once done, you are required to upload a photo of your original ID card issued by the government.

You will then receive a verification email from Kraken confirming the verification procedure.

2FA on Kraken

After completing the verification procedure on Kraken, you can set the Google Two-Factor Authentication (2FA) to your account.

All you need to do is go to the security of your account and enable 2FA. Download the two-factor authenticator app on your mobile phone and link it to your account.

Kraken Simple vs Kraken Pro

Kraken is a diverse cryptocurrency exchange offering Simple and Pro user modes. Both these modes are designed to provide crypto users with enhanced convenience according to their trading needs.

Kraken Simple

Kraken Simple is the basic user mode for casual users looking to buy and sell cryptocurrencies. The platform supports several deposit and withdrawal methods for digital assets and fiat currencies. Users can explore the available cryptocurrencies on the platform and choose their favorite digital assets to buy and sell.

In addition, Kraken Simple offers you the chance to stake your cryptocurrencies and earn APR (Annual Percentage Yield). You can access this feature under Kraken Earn and start earning passive income.

Kraken Pro

Kraken Pro is a platform that has been designed for professional traders who look for advanced trading tools and technical analysis.

Kraken Pro includes all the features offered on Kraken Simple. In addition, it provides users with leverage trading, futures trading, and advanced order types to execute trades.

Some of the notable features of Kraken Pro are:

• Low fees
• High security
• Spot, Leverage, and Futures trading
• Margin trading up to 5x
• Advanced trading tools and charts
• Eight order types
• Quick order execution
• Viewable trade history

How to Make a Deposit on Kraken?

Kraken offers several deposit methods to its users, including crypto and fiat deposits. Whether you are on the Simple platform or the Pro platform, you need to follow some simple steps to make a deposit.

Go to Deposit on the exchange’s home page.

Select the cryptocurrency you want to deposit, like Bitcoin and choose the network type.

Generate the deposit address, copy it, and paste it into the wallet you use for the deposit.

Do not forget to read the deposit requirements carefully. Once done, you will see your balance in the wallet.

You can check the processing time for deposits on the Kraken Cryptocurrency Deposit Processing Times Page.

Buy, Sell, and Convert on Kraken

Users can instantly buy cryptocurrencies with fiat money on Kraken. In addition, they can sell and convert cryptocurrencies without any hassle.

To buy cryptocurrency with fiat:

• Navigate to Buy Crypto at the top of the menu bar, then click the Buy option.
• Select the cryptocurrency you want to purchase and enter the amount.
• Choose the payment method and check your available balance. Users can choose between different payment methods, such as Apple Pay, Google Pay, ACH transfers, or Debit or Credit cards.
• Once done, click on Confirm to complete the order.

To sell cryptocurrencies:

• Click on Buy Crypto at the top of your menu bar, and then click on Sell.
• Choose the cryptocurrency you want to sell.
• Enter the amount and click on Review.
• Go through the order details and click Confirm to complete it.

To convert cryptocurrencies on Kraken:

• Hover over to Buy Crypto at the top of the menu bar and then click Convert.
• Select the cryptocurrencies you want to convert.
• Enter the amount of the digital coin that you want to convert.
• Review the order details and click on Confirm to complete it.

Making a Withdrawal on Kraken

Users on Kraken can make crypto and fiat withdrawals. The exchange offers a smooth withdrawal procedure that users can follow to complete the withdrawal.

Click the Withdraw button on the homepage to withdraw money from the exchange.

Select the cryptocurrency you want to withdraw and choose the network type.

After this, enter the withdrawal amount and withdrawal address to confirm the order.

Kraken also allows its users to make fiat withdrawals and supports seven fiat currencies: US Dollar (USD), Euro (EUR), Pound Sterling (GBP), Canadian Dollar (CAD), Australian Dollar (AUD), Swiss Franc (CHF), and Japanese Yen (JPY).

The following are the supported withdrawal methods for each fiat currency:

• USD: ACH, Fedwire, CUBIX, SWIFT
• EUR: SEPA, BLINC, SWIFT
• GBP: FPS, CHAPS, BLINC, SWIFT
• CAD: EFT, Interac e-Transfer, Wire Transfer, SWIFT
• AUD: Bank Transfer, Osko, SWIFT
• CHF: SIC, SWIFT
• JPY: SWIFT

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Trading on Kraken

Kraken offers a wide range of trading features to users in Kraken Pro. The platform offers over 400 cryptocurrencies and more than 950 trading pairs across its Spot, Margin, and Futures markets.

Users can do Spot trading, Margin trading with up to 5x leverage, and Futures trading with up to 50x leverage on Kraken Pro. They can also choose from different order types according to their trading strategies. The available order types on the platform are Limit, Market, Stop Loss, Stop Loss Limit, Take Profit, Take Profit Limit, Iceberg, Trailing Stop, and Trailing Stop Limit.

Trading Interface

The Kraken Pro features an advanced trading interface with all essential tools.

• You can select the trading pair and order type, fill in the order details, and place it.
• It shows the last traded price, index price, 24-hour change in the price, and trading fees.
• You have the order book showing current buying and selling prices.
• It features an advanced trading chart that you can customize according to different trading strategies.

Spot Trading on Kraken

Spot trading on Kraken allows you to trade digital assets at the current market price. You can access spot trading on the Kraken Pro platform and start trading your favorite cryptocurrencies. It offers an intuitive interface that features all essential trading tools.

Margin Trading on Kraken

Kraken is one of the biggest U.S.-based cryptocurrency exchanges that offers Margin trading with up to 5x leverage on over 100 pairs. You can access Margin trading on the Kraken Pro platform and trade your favorite pairs.

The exchange offers different margin modes on the available trading pairs, which you can check on its Margin Trading Page.

Futures Trading on Kraken

The Futures platform on Kraken is well-designed and offers better functionality. Unlike Margin trading, users can trade cryptocurrencies with up to 50x leverage in Futures trading.

You can access Futures trading on the Kraken Pro platform. It offers an innovative trading interface where you can switch between various trading pairs, adjust order specifics, view the order book, and select different depth chart types.

The Futures trading on Kraken is eligible for users in certain jurisdictions. To check whether it is available in your jurisdiction, visit the Kraken Futures Eligibility Page.

Order Types on Kraken

Kraken offers a wide range of order types that users can use to buy and sell cryptocurrencies on its Pro platform. These order types are available across Spot, Margin, and Futures trading and cater to all crypto traders’ needs.

The following order types are offered on the exchange:

• Limit Order: This order type can be used to buy and sell cryptocurrencies at a specific market price.
• Market Order: This order type allows users to trade cryptocurrencies immediately at the best available market price.
• Stop Loss Order: It is an order type that helps limit potential losses on a trade by selling a digital asset at a predetermined price level.
• Stop Loss Limit Order: This advanced order type combines stop-loss and limit orders for maximum profits when trading.
• Take Profit Order: It sets a pre-determined price level to lock in profits when a specific profit target is reached.
• Take Profit Limit Order: This order type automatically closes a position for a profit when a specific set price target is achieved.
• Trailing Stop Order: Users can benefit from this order type as it automatically adjusts the stop-loss level once the price of a digital coin moves in a favorable direction.
• Trailing Stop Limit Order: A dynamic order type that triggers at a defined percentage or absolute amount to protect profits and manage risk by adjusting the stop price.

Fee Structure on Kraken

The fee structure on the Kraken Exchange is refreshingly transparent and quite competitive. The platform features no surprises or hidden fees for any of its services. The platform charges deposits, withdrawals, and trading fees to its users.

Users on Kraken can expect the following fees:

• Most crypto asset deposits are free.
• Instant Buy feature fees are 3.75% + $0.25 fee for digital wallet and card purchases, 0.5% for ACH transfers, and 0.9% for USD purchases.
• The withdrawal fees on the exchange depend on the asset.
• 1.5% fee for stablecoin purchases.

The fees for fiat deposits on the exchange are based on the currency and method used. The following are the fees:

• USD: $0 to $3
• CAD: $0 to $3
• GBP: £0 to £3
• EUR: €0 to €3
• CHF: 0 Fr. to 0.75 Fr.

Furthermore, you can check the detailed information on deposit fees on the Kraken Deposit Fees Page.

The fiat withdrawal fees on Kraken depend on the currency and method used. Listed below are the fiat withdrawal fees on the platform.

• USD: $0 to $35
• CAD: $0 to $35 or 0.35%
• AUD: $0 to $55
• GBP: £1.95 to £35
• EUR: €0.09 to €35 and 1 EUR for SEPA
• JPY: $35
• CHF: 1 Fr. to 35 Fr.

The withdrawal fees are generally associated with your native currency, and you can check all the withdrawal fees on its Withdrawal Fees Page.

The trading fees on the Kraken Pro platform are divided into taker and maker fees. In addition, they are calculated based on your 30 days trading volume.

The exchange charges a basic 0.25% maker and 0.40% taker fee in Spot trading. The following is the Spot trading fees table on Kraken:

If you are interested in trading stablecoins, pegged tokens, and forex (FX) pairs, the following are the fees:

As for Futures trading, Kraken Pro has a low-fee structure that makes trading more profitable. The following are the fees in Futures trading on the platform:

The Margin trading fees on Kraken Pro are paid at the opening and closing of a margin position. You can check its fees on the Kraken Fees Page.

Key Features of the Kraken Exchange

The Kraken Exchange has been designed to cater to the needs of both beginner and professional crypto traders. In addition to trading, the exchange offers several unique features to its customers for an enhanced user experience.

Some of the key features offered on the exchange are:

Kraken Staking

Like other reputed crypto exchanges, Kraken has a section where users can stake their crypto assets and earn up to 21% APR (Annual Percentage Rate) in staking rewards.

The staking program on Kraken is divided into flexible and bonded staking strategies. With flexible staking, users can unstake their assets anytime based on their needs. On the other hand, bonded staking requires users to lock their assets for a specific time, like 3 or 30 days.

You can stake up to 25 cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Cardano (ADA). In addition, Kraken also allows you to stake two fiat currencies: US Dollar (USD) and Euro (EUR).

Once you stake assets on Kraken, the system calculates the rewards and sends them directly in your earn wallet weekly.

Auto Earn

If you want to increase your earnings from staking, Kraken Pro offers the Auto Earn feature to automate staking.

Auto Earn is an advanced tool offered by Kraken to automate the allocation of your assets to its reward program, which includes staking, opt-in, and USDG rewards. Under this feature, you can earn up to 13% APR in staking and up to 4.25% APR in opt-in rewards.

When you use Auto Earn, the system automatically allocates a portion of your assets to the appropriate award program. Your assets are automatically available for trading, and you can withdraw them anytime. The rewards are calculated and added to your Spot account every week.

Kraken does not charge any transaction fees for the Auto Earn programs. It charges a 20% commission based on the reward type you received.

Learn

Kraken is an advanced cryptocurrency exchange where users can navigate the complexities of the crypto space in its Learn section. It offers articles, guides, and videos that are specific to the exchange and help users with the crypto path they choose.

Kraken Learn features panel discussions and interviews of the leading figures in the crypto industry. Users can also sign up for its mailing list for in-depth research and market analysis on crypto.

Mobile Apps

Mobile applications launched by crypto exchanges play a dynamic role in the crypto space. Kraken caters to the needs of both beginner and seasoned traders and has launched two versions of its mobile app: Kraken and Kraken Pro. Both these apps are available on the Apple App Store and Google Play Store.

The Kraken mobile app is an excellent option for traders who look to buy, sell, and convert cryptocurrencies. It has been designed for casual users interested in buying and selling cryptocurrencies and daily market updates.

Some of the highlighted features of the Kraken mobile app are:

• A user-friendly design.
• Easy purchasing and selling of digital assets.
• Support for multiple payment methods like crypto and fiat.
• Accurate market updates for better insights.
• 24/7 customer support.

On the other hand, the Kraken Pro mobile app offers advanced trading features to seasoned traders. In addition to all the features provided in the simple application version, you can monitor trades and make adjustments accordingly.

Some of the notable features of the Kraken Pro mobile app are:

• Deposits and withdrawals
• Advanced trading tools
• Low fees
• High safety
• Crypto staking
• Margin trading with up to 5x leverage
• Multiple order types
• Quick execution of trades
• Trade history

Kraken Wallet

Kraken offers several features to enhance the convenience of its users, such as the Kraken Wallet. It is a non-custodial and open-source mobile wallet that gives users complete control over their digital assets.

Users can download the Kraken Wallet from the Apple App Store and the Google Play Store. It is a powerful wallet that has been packed with standout tools, such as DeFi integration via WalletConnect, cross-chain token swaps, multi-chain access (for Bitcoin, Ethereum, Solana, and Layer-2s), and NFT storage. An important thing to note here is that users can access all these features on the wallet app even without a Kraken account.

The Kraken Wallet features advanced security measures, such as biometric authentication, zero tracking or analytics, and 12 or 24-word Secret Recovery Phrases. All these measures ensure your data remains private and is comprehensively backed by the app. In addition, Kraken Connect offers seamless transfers between the wallet and the Kraken Exchange.

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Kraken Affiliate Program

Kraken is a major cryptocurrency exchange that offers an affiliate program to help its users make passive income. The program offers users a chance to earn up to 20% commission on the fees from clients they refer to the platform. The commission covers trading fees across its Spot, Futures, and Margin trading fees.

The exchange looks for the following affiliates with an audience in the crypto space:

• Crypto content publishers
• Personal finance
• Content creators
• Influencers
• Sub-affiliate networks

The exclusions include:

• Private social media accounts
• Content that is irrelevant
• Sites that are inactive
• Partners who are listed as “Offline” or “Other” without any additional information

To become an affiliate on Kraken, you only need to visit its Affiliate Program Page and sign the application form. Fill in all the required information and submit your application form. The system will analyze your application, which can take up to five working days. Once approved, you will get an affiliate dashboard with specific referral links, promo codes, and tracking statistics.

Supported Cryptocurrencies on Kraken

Kraken is a leading cryptocurrency exchange where crypto users can find a wide range of digital assets. The exchange supports over 400 digital coins, including the big names Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA).

In addition, Kraken also supports several stablecoins, such as Tether (USDT), USD Coin (USDC), Global Dollar (USDG), Dai (DAI), Tether EURt (EURT), USDS (USDS), TrueUSD (TUSD), and Paypal USD (PYUSD).

You can check the full list of supported cryptocurrencies on the Kraken Explore Page.

Kraken Security

Kraken has invested heavily in its security. The exchange has employed a world-class security team that designs various security measures to safeguard users’ funds and privacy.

Kraken utilizes hot wallet and cold storage solutions to secure its users’ funds. Its servers reside in secure cages that are monitored 24/7 by armed guards and advanced alarm systems. The sensitive information on the platform is encrypted, and it runs a bug bounty program to broaden the spectrum of its security.

The Kraken Exchange conducts periodic audits of Proof of Reserves to gain the trust of its users. The process ensures enhanced transparency in the services provided by the platform.

In addition, the exchange has implemented the following security measures:

• SSL Encryption
• 2FA
• Email confirmations for withdrawals
• API key permissions
• Global time lock
• 24/7 support for urgent concerns
• PSG signed and encrypted email

Customer Support on Kraken

Kraken offers 24/7 customer support to help you navigate the complexities of the crypto market. You can use its live chat for a quick response or send an email for complex queries. Whether you are using the desktop version or the mobile app of the exchange, its customer support is always there to help you.

The platform also offers an extensive Help Centre for enhanced user convenience through detailed articles and guides. It covers everything from setting up an account to using advanced trading tools on the platform. This service allows you to get answers to your queries independently instead of relying on someone else.

Closing Thoughts

Kraken stands out as a reputable and reliable crypto trading exchange. With over a decade of service, the exchange has earned its reputation through transparency, regulatory compliance, and security. It offers a dynamic infrastructure based on digital assets and fiat support, making it a strong choice for crypto users.

What truly sets the Kraken Exchange apart is its flexible trading ecosystem. The exchange offers a simple platform for casual traders looking to buy and sell cryptocurrencies. On the other hand, it provides an advanced Pro platform for seasoned traders with a wide array of tools to meet their diverse trading needs. In addition, it offers users versatile mobile phone applications to control each trade without the hassle of going to the desktop version every time. Kraken remains a top-tier cryptocurrency exchange for anyone who is serious about trading digital coins. The platform is trusted by millions of users across the globe thanks to its robust security measures. Moreover, the 24/7 customer support makes Kraken your go-to platform for an efficient and secure crypto trading experience.

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Frequently Asked Questions (FAQs)