Written By
Deniz Saat
Reviewed By
Jonathan Hamel

Learn more about the US based cryptocurrency exchange - Kraken; one of the largest and most secure platforms catering to both professionals and beginners.


Highly secure

Supports a variety of currencies

User friendly interface

Overall Rating
  • Features
  • Ease of Use
  • Payment Options
  • Fees
  • Security

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Who Are They?FeaturesCurrencies SupportedPayment MethodsSupported CountriesFees and Buying LimitsCustomer Reviews

Who are they?

Kraken is one of the largest and most secure US-based cryptocurrency exchanges. This versatile platform is sophisticated at the backend and simple at the front. It caters to the needs of both a professional trader and a crypto-beginner. Founded by Jesse Powell, Kraken’s feature-rich trading platform provides a comprehensive solution to buy and sell digital assets, and access many trading features such as margin trading and OTC options.


Kraken provides a wide variety of trading options that range from the regular limit orders and stop-loss orders to several advanced features like margin trading and dark pool. Kraken not only supports crypto to crypto trading but also between cryptocurrencies and fiat currencies, making it a great fiat-to-crypto gateway. The following are some of the unique features specific to Kraken.

  • Unique Landing Page: The sleek, easy-to-navigate interface crafted with a perfect blend of appealing illustrations creates a rich user experience.
  • Liquidity: Kraken provides high trading volumes and high liquidity levels.
  • Functionality: Kraken is also beginner-friendly whose simple interface with detailed instructions on how to use the exchange makes trading an easy process for first-time traders.  
  • Staking: Kraken Staking allows users to increase their holdings by simply storing their coins in their Kraken account. Kraken provides staking rewards for the staked assets on top of the holdings, thereby increasing asset value. Kraken currently supports staking for the following assets: Bitcoin, Tezos, Polkadot, Cosmos, Euro, and US Dollar.
  • 24/7 Customer Support: Kraken provides timely response times for all user inquiries.
  • Strong user security with 2 Factor Authentication.
  • OTC (Over-the-counter) Exchange:  Kraken supports OTC trading that takes place off the Kraken’s traditional exchange. Institutional and High net-worth individuals who trade with large orders can opt for OTC exchange, as large orders, might be too expensive when placed on the open market.
  • Margin trading: In margin trading, Kraken provides the necessary funds for the entire value of trade when a user trades with leverage.
  • Futures trading: Futures trading allows traders to enter an agreement to buy or sell a digital asset at a future date without holding the digital asset in question. Kraken allows users to trade BTC, XRP, ETH, LTC, and BCH in future contracts.
  • Cryptowatch: With Cryptowatch, users can keep tabs on the crypto markets and make trades when the conditions are right. Cryptowatch allows you to trade multiple crypto exchanges from a single platform.
  • Indices: Kraken indices are built on stable, dependable data sources. Kraken gives you access to up-to-the-second pricing data with cryptocurrency indices powered by CF Benchmarks.


  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Polkadot (DOT)
  • Litecoin (LTC)
  • EOS(EOS)
  • Tether (USDT)
  • Dash (DASH)
  • Stellar Lumens (XLM)
  • And many more...

Fiat Currencies

  • United States Dollar (USD) 
  • EURO (EUR) 
  • British Pound (GBP) 
  • Canadian Dollar (CAD)
  • Swiss Franc (CHF)
  • Japanese Yen (JPV)
  • Australian Dollar (AUD)

Payment Methods

  • SEPA (Single Euro Payments Area) transfers.
  • Etana Custody. (1-5 business days).
  • Silvergate Exchange Network transfer for both domestic and international transfers (1-5   business days)
  • Fedwire transfer services. (1-3 business days).
  • International transfers are processed via SWIFT.
  • SIC - near-instant transfers on business days.
  • Traders can easily fund the digital assets supported by Kraken to their account. Crypto deposits get credited instantly, and users are ready to trade in under 10 minutes.

Supported Countries

Kraken is accepted worldwide, but some exchange features are restricted to certain  regions/jurisdictions.

  • The countries not supported by Kraken include Afghanistan, Congo-Brazzaville, Congo-Kinshasa, Cuba, Iran, Iraq, Libya, North Korea, Syria, and Tajikistan
  • In the United States, Kraken does not support residents of New York (NY) and Washington State (WA).

Fees and Buying Limits

Kraken adopts the maker-taker fee model, and the fees are determined based on the past 30 days’ trading volume.

  • Traders with monthly volume trade below $50,000 have a maker fee of 0.16% and a taker fee of 0.26%.
  • Traders with a monthly trade volume of more than $10,000,000 are provided progressive discounts for which the maker fee is 0, and the taker fee is just 0.10%.
  • Cryptocurrency deposits are unlimited, but withdrawals include a minimum withdrawal amount and a flat fee to move out the digital asset from the Kraken account.
  • Fiat currency deposits and withdrawals have certain restrictions and also include minimum fees for withdrawing flat currencies.

Customer Reviews

With low transaction fees and great security aspects, the veteran exchange - Kraken is here to stay.

Kraken is a leading digital currency exchange for “serious and professional traders.” The platform is designed with the sophisticated trader in mind and provides access to many sought-after features such as fast execution speed, margin trading and deep liquidity.”

 Kraken is perfect for professional and expert traders, but not so easy for beginners. Also, it does not support debit cards, unlike some other exchanges. (Ex: Coinbase)




Kraken leads the way in security. Although Kraken’s founder has gone on the record many times to refrain traders from storing crypto assets on any exchange, including his own, it houses 95% of all its assets in offline, air-gapped cold storage that is also disseminated geographically. Kraken stores all of its servers in cages with 24/7 surveillance. Also, access to all the servers is controlled and tightly regulated. In terms of user security, Kraken tops the list- Two-factor authentication, email confirmation for withdrawals, master lock, granular API permission, no account recovery via phone/email, and SSL encryption.

Pros of 


  • Kraken offers a variety of services and products to meet all needs.
  • Kraken’s platform is highly trustworthy and is one of the first exchanges to retain customer funds safely using a proof of reserves audit.
  • Easy to setup an account.

Cons of 


  • Kraken does not support credit/debit card transactions.
  • Kraken is delisted in New York due to the non-availability of a BitLicense.


1. What is Kraken Crypto?

Kraken is a US-based cryptocurrency trading platform founded by Jesse Powell in 2011. Kraken supports crypto-crypto and fiat-crypto trades.

2. Is Kraken good for beginners?

Though Kraken is aimed at more advanced traders, it also works well for beginners. Kraken’s exceptional customer support team aids those who may be unfamiliar with the trading terminologies to get started.

3. Does Kraken accept credit cards?

Kraken does not currently support credit cards, debit cards or PayPal.

4. Is Kraken a crypto wallet?

Kraken is a cryptocurrency exchange and not a wallet service. However it allows users to hold funds in their Kraken account. The stored funds are either being exchanged or used for trading.

Deniz Saat
Deniz Saat is an IT services specialist and technical writer.
Jonathan Hamel
CEO and Founder of Académie Bitcoin

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