Kraken Review 2022: Pros & Cons, Features & Fees

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Kraken is a big cryptocurrency change appropriate for a variety of cryptocurrency customers. With a Kraken account you should buy and promote greater than 65 completely different cryptocurrencies with aggressive charges. Whereas novices might discover Kraken works simply effective, it is best for skilled and energetic crypto lovers searching for a strong platform.

Options – 8

Charges – 8

Supported Currencies – 6

Ease of Use – 6

Buyer Service – 8

Safety – 7



Kraken is a big, U.S.-based cryptocurrency change. It is appropriate for any customers who worth low charges and skilled merchants might admire that it helps superior options like margin and futures buying and selling.


Commerce greater than 65 cryptocurrencies utilizing a number of platforms
Low buying and selling charges on Kraken Professional
Sturdy safety practices


Not supreme for cryptocurrency novices
It may be difficult to make use of when you’re not comfy with computer systems
Greater charges with the instant-buy platform

What Is Kraken?

Kraken is a cryptocurrency change and monetary platform based in 2011. It is presently the second-largest U.S.-based crypto change, behind solely Coinbase.

With a Kraken account you should buy and promote greater than 65 supported digital currencies when you’re within the U.S., with extra added commonly. Worldwide customers can commerce 136 cash and tokens. The principle Kraken app is offered on the internet and cellular units. Kraken Professional, its upgraded account providing, gives extra options and decrease buying and selling prices.

Kraken customers can stake cryptocurrencies to earn as much as 23% curiosity by Kraken Earn. The corporate additionally gives a separate cryptocurrency futures platform with as much as 50x leverage.

What Does Kraken Provide?

Kraken’s main providing is cryptocurrency buying and selling. Much like buying and selling inventory with a standard brokerage account, you should buy and promote cryptocurrencies, with the power to commerce many supported pairs and commerce in a wide range of currencies together with U.S. {dollars}, euros, Bitcoin, USD tether, USD coin and different currencies.

And the central Kraken platform is mostly straightforward to make use of when you’re comfy with computer systems and most monetary functions. Kraken customers who need to lower your expenses on charges can log into Kraken Professional, an energetic buying and selling platform with charges of 0.26% or much less.

As soon as you have turned your {dollars} into digital forex, it would not have to take a seat idle. You possibly can switch funds out of your buying and selling account to Kraken Earn to stake your forex. This lets you earn wherever from 1% to 23%, relying on the forex.

How Does Kraken Work?

Getting began with Kraken is an easy course of that takes lower than 10 minutes when you’ve got your info useful. Observe these steps to get began:

Create an account. First, it’s essential to create an account utilizing your e-mail tackle and a password. And plan on submitting your private contact info and Social Safety quantity for verification and tax functions.
Arrange multi-factor authentication. You could arrange multi-factor authentication for account safety. Kraken requires you to have three distinctive codes: one for login, one for funding, and a grasp key. You want an app like Google Authenticator for this step.
Join your checking account. To make use of Kraken, it’s essential to fund your account. The bottom-cost technique makes use of a related checking account. And connecting to a checking account is fast and simple.
Add funds. As soon as verified and your financial institution is related, you possibly can deposit {dollars} into your account. Your verification stage impacts account limits.
Enter your first commerce. Lastly, you are able to commerce. Load up the commerce display or Kraken Professional to enter your first commerce.

Essential Options

Cryptocurrency Buying and selling

We have already mentioned that buying and selling is the principle function at Kraken. You possibly can select between web-based or cellular variations of both Kraken or Kraken Professional. In accordance with CoinMarketCap, Kraken manages wherever from $800 million to over $1 billion in every day cryptocurrency trades. The highest currencies traded on Kraken worldwide are:

Tether (USDT)
Ether (ETH)
Solana (SOL)
Bitcoin (BTC)
Cosmos (ATOM)
Avalanche (AVAX)
Monero (XRP)


Kraken lists 15 currencies with staking assist within the U.S. These embody ALGO, ADA, ATOM, ETH, FLOW, KAVA, DOT, SOL, TRX, LUNA, and XTZ.

Many belongings pay 4% to 10% APY, with the best APY presently being 23% for Kava. Total, Kraken has one of many higher staking platforms out of all crypto exchanges.

Associated >> Crypto Staking and Lending: All the pieces You Ought to Know


Kraken futures is a forward-looking cryptocurrency market the place you possibly can commerce with elevated leverage. Futures buying and selling is a fancy and dangerous endeavor that is not applicable for many buyers. However if you wish to commerce cryptocurrency futures, Kraken is one among a restricted variety of suppliers of crypto futures markets.

Charges & Limits

Kraken pricing varies based mostly on the platform used. You may get the very best deal buying and selling with Kraken Professional, which is offered utilizing the identical account as the principle Kraken platform.

With Kraken’s instant-buy program, you pay 1.5% for many cryptocurrency trades, with a decrease 0.9% payment for stablecoins. In the event you pay with a card or digital pockets, you pay 3.75% + $0.25 further. And shopping for instantly from a checking account with out first transferring funds to Kraken requires a 0.5% payment.

Kraken FeeCard Buy FeeDigital Pockets FeeBank Switch (ACH) Charge

Stablecoins: 0.90percent3.75% + $/€0.25***3.75% + $/€0.25***0.5%

Crypto or FX pair: 1.5%

On Kraken Professional, pricing makes use of a maker/taker mannequin. The very best payment class is for customers with as much as $50,000 in month-to-month quantity. On this tier, takers pay 0.26% and makers pay 0.16%. With larger quantity, your charges go down as little as 0%.

30-Day Buying and selling VolumeMaker FeeTaker Charge

$0 – $50,000 0.16percent0.26%

$50,001 – $100,000 0.14percent0.24%

$100,001 – $250,0000.12percent0.22%

$250,001 – $500,000 0.10percent0.20%

$500,001 – $1,000,000 0.08percent0.18%

$1,000,001 – $2,500,0000.06percent0.16%

$2,500,001 – $5,000,000 0.04percent0.14%

$5,000,001 – $10,000,000 0.02percent0.12%

$10,000,000+ 0.00percent0.10%

Relying on the verification stage, Kraken customers might run into funding and withdrawal limits. Including extra info and submitting copies of your ID unlocks larger limits.

Who Is Kraken Finest For?

Based mostly on the options and choices, Kraken is greatest for intermediate to superior cryptocurrency customers with some expertise and background with digital currencies. It is not the simplest platform to navigate or use, and anybody who would not contemplate themself to be good with the web might wrestle.

However when you’ve got some expertise with crypto, you’ll most likely discover Kraken intuitive and feature-filled for what you want most.

How Do I Open an Account?

To open an account, head to the Kraken web site or obtain the Kraken app in your system. You have to enter an e-mail tackle and password to begin the signup course of. Then enter the code you obtain by e-mail to activate your account.

Subsequent, Kraken requires you to comply with particular safety setups. It recommends doing extra of those steps, and that is a good suggestion. You could use two-factor authentication in your e-mail tackle and comply with on-line safety greatest practices to really preserve your account secure.

You should utilize an account in a restricted capability at this level. Kraken gives a number of ranges of account verification, generally known as know your buyer (KYC) necessities. Most customers will seemingly need to unlock the Intermediate stage.

Now you possibly can fund your account and purchase cryptocurrency.

How’s the Buyer Service?

Kraken’s customer support is much above common for the business. In testing the web chat assist function, it is potential to achieve a good-natured human for help in lower than 10 seconds. You may as well attain Kraken by cellphone. On the time of this writing, the wait time was one minute for cellphone assist.

For probably the most half, Kraken and different cryptocurrency platforms are self-service. Previous customers fee Kraken poorly on Trustpilot, with a median evaluation score of two.1 (out of 5) with about 1,600 opinions. Complaints give attention to poor response instances and frozen accounts. However in my private expertise, Kraken’s assist could be very responsive.

Is Kraken Secure?

Kraken is a revered cryptocurrency change with stable safety practices. Kraken requires top-level private account safety utilizing e-mail and two-factor authentication, with extra two-factor authentication necessities for sure transactions. And all that is on prime of different sturdy safety measures.

For customers, it could possibly really feel a bit cumbersome. However these further steps are designed to maintain digital unhealthy guys out of your account.

The majority of buyer belongings are held offline in ultra-high safety storage. Forex is backed by full reserves and is at all times 100% accessible by customers.

Kraken Alternate options

Do not suppose Kraken is for you? Listed below are some alternate options to think about:

Coinbase: Coinbase is likely one of the most acknowledged cryptocurrency exchanges. It is newbie pleasant however trades could also be costlier. And the Earn program gives decrease rates of interest. Learn our Coinbase evaluation.
Gemini: Gemini is a feature-filled change good for cryptocurrency buying and selling and staking. However some prices are larger than at Kraken. Earn charges differ by forex and are excellent for stablecoins. Learn our Gemini evaluation.
KuCoin: KuCoin is a cryptocurrency app greatest fitted to specialists and extremely energetic merchants. It is extra complicated and tougher to make use of. Nevertheless, it helps a large listing of currencies. And it costs ultra-low buying and selling charges. Learn our KuCoin evaluation. is a serious change with many currencies and really aggressive buying and selling charges. And it gives an attention-grabbing rewards bank card and staking program.

Need extra choices >> Take a look at our full listing of the very best crypto exchanges

Backside Line

Kraken is a big and noteworthy cryptocurrency change. Whereas it isn’t our best choice for crypto newbies, it is appropriate for any intermediate to skilled cryptocurrency consumer who needs to both maintain on to their crypto or commerce actively. In the event you’ve been serious about giving Kraken a attempt, it may very well be a wonderful addition to your cryptocurrency technique.

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