Kraken is one of the world's leading cryptocurrency exchanges, specializing in Bitcoin and other digital assets. It offers a secure and easy-to-use trading platform to its users, with a wide range of features including advanced trading tools such as margin lending and stop limits. For added protection against fraudulent activity, Kraken crypto services also provide robust protection such as Know Your Customer (KYC) and Anti Money-Laundering (AML) checks. Its innovative client service allows deposits in both fiat currency and cryptocurrencies while providing a comprehensive library of educational resources to help traders stay informed.As well as ease of use and security, the ability to offer low trading fees enables investors of all levels to access the same level of market pricing. With over 50 markets available for trading, Kraken is truly one of the best crypto exchanges around today.
- Kraken’s history
- How it works
- Kraken usage: advantages
- Safety and reliability
- Available cryptocurrencies
- Advanced trading options
- Low fees and trading/staking threshold
- Kraken usage: things to improve
- Fiat currencies’ list
- Instant purchase fess
- Free vs Pro accounts
- Deposit and funding
- Kraken overview: pros and cons
- Who is Kraken for?
- Deposit and withdrawal methods
- Cryptocurrencies available on Kraken
- Trading options
- Spot trading
- Margin Trading
- Futures trading
- Kraken NFT
- How to register on the Kraken
- Customer service
- Customer Satisfaction
- Account Management
- Is your crypto safe?
- Mobile app
- Comparison with other exchanges
- Commissions and fees
- Countries of presence
- Frequently Asked Questions
- What is Kraken?
- How does Kraken work?
- What are the benefits of using Kraken?
- How do I create a Kraken account?
- What are some of the best Kraken tips and tricks?
- What cryptocurrencies are available on Kraken?
- Is there a margin trading option?
- Are there any staking opportunities?
- What is an instant purchase option on Kraken?
- Is Kraken safe?
- Is Kraken legit?
Kraken’s historyThe Kraken crypto exchange platform’s history burst onto the scene in 2011. Its founders pledged to offer secure and transparent trading services for digital assets. Ever since then, Kraken has enjoyed tremendous growth and a reputation among traders who use its services. By 2014, it had become one of the world’s largest exchange platforms when it merged with Coinsetter. Additionally, Kraken is known for its low trading fees and was even voted as the "Most Secure Exchange" by many industry players.
In 2020, Kraken became the first crypto Spot exchange to enable margin trading on Ethereum Classic & Cardano assets. Truly, Kraken's short yet fruitful journey has helped revolutionize how digital assets are traded.
How it worksKraken is a cryptocurrency exchange that provides a secure and reliable trading platform for crypto traders. Kraken has become one of the most popular places to buy, sell and trade crypto assets due to its competitive fees and features. Users can trade Bitcoin, Ethereum, Litecoin, Ripple, and other major cryptocurrencies on Kraken; major tokens such as Filecoin are also supported. The platform allows users to place advanced order types, access margin trading capabilities, and monitor price changes with real-time charting tools. For those who want access to even more complex financial opportunities like options or futures, Kraken offers programs such as Deribit API integration.This allows traders of all levels to take advantage of these features without having to open accounts at multiple exchanges. As far as Kraken crypto fees go, they are some of the most competitive in the industry; they also offer great discount programs like volume discounts and maker/taker fees when trading larger orders. Kraken crypto stock includes good customer support and verified accounts which adds an extra layer of peace of mind for users looking to bring their investing game up a notch.
Kraken usage: advantagesFor those looking to make a move in cryptocurrencies, the Kraken exchange platform offers several advantages. To begin with, Kraken fees are lower than the industry standard, making it a competitive option for those who are looking to make substantial trades without paying hefty transaction costs. Also, the solution offers cryptocurrency margin trading opportunities that allow traders to boost their returns with more flexibility. Kraken also provides users access to more than 50 digital assets and numerous currency pairs for greater portfolio diversification. It’s considered one of the most secure exchanges since its partnership with professional auditing firms allows them to periodically check for compliance and verify its processes. Kraken ultimately offers investors reliable options that are often low-cost from a trusted source.
Safety and reliabilityKraken is widely trusted for its security and reliability. Established in 2011, kraken.com has built a reputation for having robust safety measures and dependable customer service. It utilizes advanced encryption technology to protect its users' data and digital assets and offers 24/7 monitoring with an automated response system on its platform. In terms of reliability, the exchange replaces users' funds within twenty-four hours in case of any technical glitches or other mishaps, making it a safe choice for anyone who wants to store or trade cryptocurrencies. Reviews from Kraken customers report high satisfaction levels and assert that their funds are secure with the platform.
For this reason, Kraken remains one of the industry's most reliable exchanges for both amateur traders and experienced professionals alike. The ISO/IEC 27001:2013 certification is also earned.
Available cryptocurrenciesKraken offers its users access to a large selection of different digital currencies and tokens. It currently provides access to more than 200 crypto assets, ranging from Bitcoin and Ethereum to Zcash and Augur. Users can also easily connect their Kraken account to other wallets for both crypto and fiat currency for simplified buy/sell transactions. Kraken has taken tremendous steps over the last few years to ensure its crypto onboarding process is easy and secure, so traders can buy crypto with confidence. With its crypto trading services, Kraken is making cryptocurrencies more accessible and easier than ever before.
Advanced trading optionsKraken crypto is an advanced trading platform, that offers traders a wide range of options. In addition to traditional spot trading of crypto-assets, Kraken enables futures and over-the-counter (OTC) trading, staking facilities, and more recently Non-Fungible Tokens (NFTs). With a secure, global network of liquidity pools and advanced order execution technologies, the platform delivers one of the most reliable trading experiences in the crypto market. What's more, the exchange also allows you to access Kraken crypto stock prices and different Kraken trade features such as margin funding.As a result, traders can count on fast settlements with low fees for their Kraken trading operations. Whether you are a novice or an expert trader, the solution provides the ultimate cryptocurrency trading environment for anyone wanting to get involved in this incredibly dynamic asset class.
Low fees and trading/staking thresholdKraken offers one of the lowest crypto trading fees on the market, making it a highly attractive option for traders. With Maker-Taker fees starting at 0.16% and 0.26%, Kraken's fees are competitive with even the most popular crypto exchanges. When it comes to other services, such as staking or buying stocks on Kraken, there is no fee to start, so users take advantage of these services without worrying about any additional costs. The platform offers helpful resources and tools allowing traders to track their investments and find optimal opportunities to increase crypto holdings. With low fees and high rewards, the Kraken staking program is an attractive option for investors who are looking to capitalize on their cryptocurrency holdings.The ease of use, cost-effectiveness, and potential returns make it a great option for anyone looking for a reliable way to benefit from their investments.
Kraken usage: things to improveWhen it comes to selecting a crypto exchange, krakencom and Coinbase are the two biggest contenders in the industry. While Kraken offers some advantages over Coinbase like lower trading fees, faster deposit times, and access to multiple digital assets, it is not without its cons. One of Kraken vs Coinbase comparison-related cons is its Kraken Pro platform — many users have found that it takes too long to get verified and there are a limited number of features available if you’re not a Pro member.
Additionally, Kraken also reports suspicious activity more stringently than other exchanges which can make customer support slower. The points listed below, are also can be considered as the ways the exchange can improve in.
Fiat currencies’ listKraken company is continuing to grow as a leader in the industry. Unfortunately, their list of supported fiat currencies is still lacking compared to other exchanges. Currently, Kraken bank only provides funding services for European clients, and Kraken US does not offer any services for users located outside of the United States and Canada. This severely limits the reach of the services on a global scale and prevents them from providing cryptocurrency trading services to more countries around the world. They need to update their list of available fiat currencies if they are going to remain competitive in this ever-evolving industry. The current list is limited with:
Note. Not all these currencies are available for funding and trading. For more information please contact the Kraken support team.
Instant purchase fessIt's no secret that Kraken crypto prices can fluctuate – given the volatile nature of the cryptocurrency market, it makes sense that fees for instant purchases vary as well. However, what Kraken does is display its fee structure before one transacts – meaning you can know the fee you will pay for a certain transaction before submitting it. This is quite dependent on various factors such as the size of the transaction, the assets used, or the payment method involved. Unfortunately, the exchange does not provide instructions on how to accurately calculate these fees and this is a bit disappointing because knowledge about how much one should pay prior to making any purchase goes a long way in saving time and money in the long run.
ComplexityTrading crypto on Kraken can be a daunting task for new traders, as the platform includes staking on certain coins which make the conversation around trading more specialized than other exchanges. Beginners may struggle to understand staking, the potential risks involved, and how to benefit from staking securely for future trades.
It is important for these traders to learn about staking and do adequate research on it before diving into Kraken's staking mechanics and making any financial decisions. Making informed decisions is key to ensuring long-term success with trading and staking on Kraken.
Free vs Pro accountsFree accounts on the exchange are limited, however, offering only basic features and options. To gain access to expanded Kraken charts and other advanced offerings, users must activate Kraken Pro – an additional verification process that is limited in many countries. This can be off-putting to would-be Kraken enthusiasts, which begs the question of why the platform does not provide more features in its free account.It is time for the company to reconsider its offerings and give users access to more options for free as part of their basic subscription package. Doing so would create a more user-friendly experience that would attract a larger customer base in the long run.
Deposit and fundingIf you're new to the crypto-exchange world, Kraken makes it easy to get started trading Bitcoin and other digital assets. However, when depositing funds into your Kraken wallet, users should be aware of the lengthy deposit times. The exchange requires up to five business days for fiat currencies and all new deposits to become available in a user's wallet.
Though the process may take longer than other exchanges due to higher security checks, Kraken has established a strong reputation for being one of the most reliable and secure platforms operating in the industry today.
Kraken overview: pros and consThe Kraken crypto exchange has become one of the most popular platforms for trading, but as with any large platform, it also carries certain pros and cons. Perhaps the biggest pro is that its margin trading capabilities enable users to capitalize on Kraken stock price fluctuations without needing to use leverage. This could be especially beneficial in volatile trading environments, making investments more secure. On the other side of the coin, though, Kraken can be dauntingly complex at times, with a publicly-reported bug discovered in 2019 costing some traders significant losses. When considering this and all other aspects, it's clear why understanding both the advantages and drawbacks associated with Kraken is essential for every trader interested in investing in cryptocurrencies. In the table below, you’ll find all the important pros and cons of the service.
|A variety of trading and staking options||A limited number of fiat currencies|
|Low fees (from 0%)||Complex for beginners|
|Access to more than 200 coins||A free account has limited features|
|User-friendly interface||Slow deposit and funding processing|
|API for developers||Pro account requires additional verification|
|High level of security|
|Well-known and reliable|
|24/7 customer support|
Who is Kraken for?Kraken caters primarily to experienced traders. In recent news, Kraken acquired Crypto Facilities – a UK-based cryptocurrency derivatives trading platform – for a reported $100 million USD. This acquisition further strengthens Krakens offering for more sophisticated traders by providing access to futures contracts and other derivative products.
With its ease of use, fantastic customer service, and wide selection of what's on the market today; Kraken is the ultimate choice for experienced traders who demand convenience and reliability.
Deposit and withdrawal methodsKraken is a prominent crypto exchange providing users with various deposit and withdrawal options. As the first U.S.-based exchange, Kraken is regulated in New York and hosts some of the most extensive crypto deposit and withdrawal methods on the market. On Kraken, you can deposit cryptocurrencies to your Kraken wallet through:
- wire transfers (ACH);
- digital wallets (Apple Pay, Google Pay);
- debit/credit cards (Visa, Mastercard).
Important! The withdrawal method depends on the fiat currency you want to transfer to your account.
- For USD. ACH, SWIFT, SEN, and third-party platforms (Signet, FedWire).
- For EUR. SWIFT, SEPA, SEN.
- For GBP. SWIFT, CHAPS, FPS.
- For CAD. SWIFT, EFT, InterFIN, Interac e-Transfer.
- For CHF. SWIFT, SIC.
- For AUD. SWIFT, Osko, bank transfer.
- For JPY. SWIFT, Furikomi/Domestic banks.
- For AED.
Cryptocurrencies available on KrakenKraken is the largest trading exchange that offers its customers active trading in more than 200 different cryptocurrencies, futures, and NFTs. The organization offers its client base a wide range of trading products and favorable commission terms. The versatility of the exchange is limitless — almost all existing types of cryptocurrencies are available for trading, each of which has different up and down trends. Some cryptocurrencies are better suited for active trading, others for long-term investing, and thirds are available for sale at any time. The table below shows the most popular types of cryptocurrencies in each category.
|For trading||For deposit||For withdrawal|
|BTC/USDT||Ethereum (ETH)||Dash (DASH)|
|BTS/BUSD||Bitcoin (BTC)||EQS (EQS)|
|ETH/USDT||Tether (USDT)||Chain Link (LINK)|
|WBTC/USDT||USD Coin (USDC)||Stellar (XLM)|
|ETH/BTC||BNB (BNB)||Lite Coin (LTC)|
|BUSD/USDT||Binance USD (BUSD)||Ripple (XRP)|
|XMR/USDT||Polygon (MATIC)||Tether (USDT)|
Spot tradingSpot transactions are a common type of trading on Kraken. Settlement on such trades is made either immediately or within several business days. It refers to the moment when the seller receives cash in the account and the buyer receives the purchased asset. The commission is calculated for each transaction separately and is considered as a percentage of the selected currency, depending on the size of the monetary transaction. The smaller its amount, the higher the percentage of commission, which at the exchange ranges from 0.00% to 0.16%. The main feature of spot trading is its transparency.
It is available to any user but has a high entry threshold. Thanks to such trading it is possible to trade in real-time, predict the profitability of operations, as well as to conclude transactions with leverage, both long-term and short-term.
Margin TradingOn the Kraken, users are able to run margin trading. Anyone can actively trade securities without having enough cash on their balance to complete the purchase. Such transactions have an alternative name — sometimes they are called unsecured because the actual money for the purchase of securities or other assets is lent by the broker himself/herself, but on the condition that the amount will be repaid within the established terms.The exchange charges a small commission for margin trading (from 0.015% both for opening and maintaining the position).
Futures tradingCrypto futures trading is an agreement that is reached between two counterparties to buy and sell a certain number of coins at a specific futures price for specific periods. Buying futures on Kraken provides access to a wide range of coins — you don't have to own them to do so. In addition, individuals and organizations owning crypto futures can use them to minimize downside risks in the market.
The exchange has a special pledge wallet for futures — it is the one that allows you to realize pledges and manage all assets without moving money.
Kraken NFTThe Kraken CEO and company at all have extensive experience in NFT trading and offer its users a wide range of benefits:
- All NFTs are securely protected by a leading security system.
- The exchange does not charge any commission for trading NFT within the network.
- There is a special infographic that allows you to monitor the rarity of purchased NFTs.
- Payments are available in any convenient way, including over 180 types of cryptocurrencies.
- Building your own NFT through multiple blockchains is available.
- Cracken shares are regularly available, particularly for new users.
How to register on the KrakenRegistration on the trading exchange is extremely simple and is done in a few steps:
- Enter the primary data, such as e-mail address, username, password and country of residence.
- Confirm the e-mail address. To do this, open the e-mail you received, click on the link and enter the confirmation code, which will also be sent to your email address.
Customer serviceThe Kraken trading exchange is extremely versatile, which, in turn, makes it possible to satisfy every customer who wants to cooperate with the platform and trade through it. The company meets all the standards generally accepted around the globe, which allows it for a long period to actively maintain a stable operation and fully satisfy its customer base. Besides, employees and operators of the company help to solve questions of their partners.
They are ready to help in any situation related to the functionality within the resource and answer any question concerning the work of the exchange.
Customer SatisfactionKraken has a huge customer base and an audience across the world and millions of registered users. Most of them are fully satisfied with the service provided by the Kraken support team. The trading platform guarantees the protection of its clients and their money/investments, using an innovative security system, has 24/7 technical support, and charges one of the lowest commissions in the world market. That is why many investors have been cooperating with the site for a long time and do not plan to stop, because it is hard to find a better option for cryptocurrency trading.
Account ManagementThe user's personal account on the Kraken trading platform is multifunctional. With its help, you can easily manage all your assets on the platform. The personal office displays infographics of the profitability, growth, and decline in the prices of owned assets. On your dashboard, you can see all the detailed statistics related to your profile operations, the history of purchases, sales, and trading. In addition, your profile has a list of personal and potentially profitable assets, which, if you wish, you can pay attention to and buy them.It's also available to change your personal information, if necessary. You can change your linked email address, phone number, and password. Also, 24/7 technical support is available to authorized users, who are ready to help solve problems or answer questions at any time.
Is your crypto safe?Many people starting on the exchange are wondering about is Kraken safe. The platform uses an innovative security system that guarantees the safety of not only the cryptocurrency but also all assets owned by the user. Throughout the history of the exchange's existence, not a single active account hacking has been observed. There have been attempts, but none of them were successful.Security is one of the main criteria, due to which users around the globe choose this exchange.
Mobile appThere is no need to constantly log in and go to the official website in order to use the services offered by the exchange. There is a Kraken mobile app for that, giving full functionality. This is especially true for those who trade through their smartphone. The official Kraken page is adapted to mobile devices, certainly, but using the app is a much more convenient option, opening up new possibilities and simplifying the use of the exchange.
Comparison with other exchangesIf compare Kraken with other exchanges, the no less widespread Binance comes to mind immediately. Both trading exchanges are similar but have significant differences in functionality, commissions, etc.
Binance has a complicated interface that is difficult for new users to understand as well as it requires mandatory verification which makes it impossible to conduct anonymous transactions. In addition, Binance is banned in some states, so it is not suitable for every trader. However, Kraken also has its disadvantages. It also requires verification, and in many ways, it is more complicated than on Binance, so anonymous transactions also will not work. It has a smaller list of available fiat currencies for trading and it does not have a demo version of the Pro account, so Kraken is not the best option for beginners who want to learn about trading from scratch.
Kraken offers users a wider range of services — for example, futures trading or NFT. The exchanges have differently arranged commission payments — Kraken sets the price depending on the deal size — from 0% to 0.26%, while Binance offers a fixed commission of 0.10%.
Commissions and feesThere are several types of commissions that Kraken wants from traders and users. Each is calculated depending on cryptocurrency, fiat currency, trading volume, and country of deposit/withdrawal. Detailed information is presented in the table below.
|Deposit||Withdrawal||Futures trading||Spot trading||Margin trading||Buy/Sell|
|From 0%||From 0.02%||From 0.0015% both for makers and takers||From 0%||From 0.015% both for opening and maintaining position||Calculated individually, depending on transaction size, assets, payment method, and current market conditions.|
Countries of presenceKraken is available and legit in more than 180 countries all over the world. The full list is presented in the table below:
|Africa||Asia||Europe||North America||Oceania||South America|
|Zimbabwe||Timor-Leste / East Timor||Switzerland||Canada||Cook Islands||Bolivia|
|Zambia||Yemen||Ukraine||Honduras||Federated States of Micronesia||Brazil|
|Togo||United Arab Emirates||Vatican City||Montserrat||Marshall Islands||Ecuador|
|Tanzania||Turkmenistan||Spain||Nicaragua||Kiribati||Falkland Islands (Malvinas)|
|South Sudan||Kazakhstan||Serbia||Saint Kitts and Nevis||New Zealand||Paraguay|
|South Africa||Thailand||Slovakia||Saint Lucia||Palau||Peru|
|Somalia||Taiwan||Slovenia||Saint Vincent and the Grenadines||Papua New Guinea||Suriname|
|Sierra Leone||Indonesia||Malta||Trinidad and Tobago||Pitcairn Islands||Uruguay|
|Seychelles||Israel||Moldova||Turks and Caicos Islands||Samoa||Venezuela|
|Sao Tome and Principe||Jordan||Montenegro||Antigua and Barbuda||Tonga|
|Mauritius||British Indian Ocean Territory||San Marino||El Salvador|
|Liberia||Malaysia||Lithuania||British Virgin Islands|
|Burkina Faso||Hong Kong||Belgium|
|Burundi||Georgia||Bosnia and Herzegovina|
|Central African Republic|
|Access from the USA||Payment methods||Contacts|
|Yes||Debit and credit cards, Bank deposits, ACH,Apple Pay, Google Pay||Bank transfer,EFT, ACH, SWIFT, SEN, third-party platforms, domesctic bank transfers.||https://www.kraken.com/https://support.kraken.com/hc/en-us|
|Headquarters country||The USA|
|Trading is allowed||Yes|
Frequently Asked Questions
What is Kraken?Kraken is a Bitcoin and other cryptocurrency exchange that was founded in 2011.
How does Kraken work?Kraken allows users to buy and sell cryptocurrencies and also provides a platform for trading.
What are the benefits of using Kraken?The benefits of using Kraken include the fact that it is a secure exchange with low fees.
How do I create a Kraken account?To create a Kraken account, you will need to provide your email address and create a password.
What are some of the best Kraken tips and tricks?Some of the best Kraken tips and tricks include using the stop-loss feature and diversifying your portfolio.
What cryptocurrencies are available on Kraken?There are more than 200 crypto coins available on Kraken.
Is there a margin trading option?Yes.
Are there any staking opportunities?Yes.
What is an instant purchase option on Kraken?It provides an alternative way to buy digital currency without depositing funds into your Kraken account. This feature simplifies the process, allowing users to make secure transactions quickly and easily with a credit or debit card.
Is Kraken safe?Yes. The platform offers an array of features to ensure users' funds are safe and secure, such as 2FA authentication, industry-standard SSL encryption technology, and secure cold storage for offline deposits and withdrawals.
Is Kraken legit?Yes, it’s legit in more than 180 countries. For detailed legal information in your region/country contact Kraken’s support team.
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