Kraken Review

  • Rating


  • Tradable Coins


  • Fees

    0.01% - 0.16%

  • Payment Options

    + 1

Our Review

Kraken Exchange offers a robust platform for serious crypto traders. It stands out with its diverse coin selection, advanced trading features, and competitive fees. However, its complex interface may prove challenging for beginners. Strong security measures further reinforce its reliability.

  • Margin trading and staking.

  • Support/chat is one of the best.

  • Low trading fees to withdraw Bitcoin (BTC).

  • Provides tons of resources for learning.

  • Only a few fiat currencies.

  • Doesn't accept debit cards or Paypal.

  • Has three apps.

Kraken 2023 Review: Your Gateway to Profitable Crypto Trading


This Kraken review explores an exceptionally user-friendly and customized crypto exchange, providing valuable insights into its features and functionality.

Founded in 2011 by American entrepreneur Jesse Powell, Kraken, headquartered in San Francisco, offers two designated platforms: Kraken and Kraken Pro, catering to beginner and advanced traders/crypto investors.

Kraken boasts a wide selection of cryptocurrencies(185+) and strong security measures, making it a secure and trustworthy platform for crypto exchanges.

With no notable hacking incidents, it demonstrates the company’s commitment to providing a safe and secure environment for US-based cryptocurrency exchanges.

The rollover fee is based on a user’s 30-day trading volumes and maker/taker status, with a typical maker fee of 0.16% and a taker fee of 0.26%.

The convenient interface of the exchange makes trading seamless and efficient. For starters keen to experiment with cryptocurrencies or blockchain, it supplies a comprehensive online learning hub.

kraken review
Kraken Exchange 2023 Review.

Who should use the Kraken Cryptocurrency Exchange?

With its more extensive margin trading and futures capabilities, Kraken Pro is perfect for advanced and experienced crypto investors, while the standard Kraken platform is best suited for beginners. Kraken is well-equipped to meet all your Bitcoin trading demands thanks to its suite of platforms and services.

Some of the most well-known digital currencies are supported by Kraken, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), and Polkadot (POT) (DOT).

 There are a few stablecoins that may be used on Kraken, and they include Tether USD, USD Coin, and Dai. You can change your U.S. dollars into Canadian dollars, Japanese yen, or Swiss francs to broaden your options. Keep in mind that not every country accepts every currency.

Powerful margin trading interface.
Powerful margin trading interface.

For Beginner Traders

Kraken’s pricing and features make it an excellent choice for novices to concentrate on cryptocurrency traders, experienced traders, and investors seeking a new cryptocurrency exchange. One of its best-selling points is the inexpensive cost of using the Kraken Pro trading platform and the futures markets. But compared to rivals, it’s not the easiest site to use.

Kraken is one of the finest cryptocurrency exchanges for buying, selling, and investing cryptocurrencies. Practice two-factor authentication always, protecting you against potential expenses and related hazards. Following these privacy instructions, you should enjoy using Kraken to purchase and sell cryptocurrencies.

Kraken exchange is for both beginner and advanced traders.
Kraken exchange is for both beginner and advanced traders.

Major Drawback

Kraken’s most significant and noteworthy downside is the lack of convenient deposit methods.

Kraken does not allow withdrawals from PayPal accounts or debit card payments. Therefore, if you wish to make minor deposits to Kraken, you might find it easier to make those amounts using cryptocurrency rather than cash.

Because of this, Kraken may not necessarily be the greatest exchange for those just starting out with cryptocurrency.

Geographical Availability

Regarding trading volume, Kraken is the fourth largest cryptocurrency exchange globally, and it is accessible to users in 48 of the 50 states in the U.S. and 176 countries.

Because of restrictions imposed by local authorities, Kraken is unavailable in New York and Washington. It’s also unavailable in Libya and Congo, two countries on the U.S. list of countries with which to impose economic sanctions.

On the other hand, Kraken limits access to some of its features based on location. You can actively open an account in countries like South Sudan and Yemen; however, specific restrictions exist on the maximum deposit amount permitted. Due to local regulations, Kraken does not offer futures trading in many regions.

What Makes Kraken a Good Choice for Margin Trading?


Kraken is well-known for its high level of privacy. By employing robust cybersecurity measures, including two-factor authentication, encryption, and cold storage, Kraken ensures the utmost safety of users’ funds, exemplified by its impeccable track record of never experiencing a single hacking incident throughout its operation.

Kraken stats.
Kraken stats.

Low Fees

Kraken has low trading fees compared to many other exchanges. It offers a tiered fee structure based on trading volume, which can be as low as 0.10% for maker orders and 0.26% for taker orders.

For margin trading, depending on the margin pair you’re trading, you are charged between 0.01% and 0.02% to open a position. 

User Interface

The Kraken platform has a design to create a simple and effective interface. Real-time charts, order books, and trade history are just a few trading aids made available to consumers.

kraken interface.
Kraken Interface.

Wide Range of Trading Pairs

Kraken offers an extensive range of trading pairs, including fiat-to-crypto, crypto-to-crypto, and stablecoin pairs. This permits customers to trade various cryptocurrencies and make a range of trades.

Regulatory Compliance

Kraken is listed as a Money Services Business with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), and it follows regulatory strategies to certify compliance with anti-money laundering (AML) and Know Your Customer (KYC) requirements.


Kraken is a deep-rooted exchange that has been in operation since 2011. Kraken has earned a commendable reputation in the cryptocurrency industry, recognized for its reliability and transparency.

Advanced Trading Features

Kraken offers advanced trading features, such as margin and futures trading, which can be valuable for skilled traders seeking market opportunities.

Build your portfolio with an extensive crypto list.
Build your portfolio with an extensive crypto list.

Invest app from Kraken exchange

An easy-to-use onboarding process makes using credit cards to purchase cryptocurrency possible. Funds can be loaded in $50, $100, etc., denominations for purchases. It maintains a price watch on your crypto holdings. Additionally, it creates favorites and tracks portfolio performance. You can even withdraw from an internal wallet to an external one.

User-friendly app.

Kraken Pro App

  • The Kraken app offers a trading version that allows users to swap all supported assets and fiat currencies. The following are some of the features it has:
  • It’s the main gateway to the professional trading platform.
  • Order books, charts, indicator overlays, and other data panels can be displayed on the interface.
  • Potential leverage of up to 5x on margin trades.
  • The Kraken Pro app offers two order types, market, and limit.

Kraken Review: Disadvantages

Slow Customer Service

Kraken’s customer service is notoriously slow and inattentive. This can be a major source of frustration for customers who require support tickets and help with their accounts, particularly in extreme market volatility.

Payment Choices

When compared to other exchanges, Kraken has fewer payment options. Customers can only fund their trade crypto accounts using bank transfers or Bitcoin deposits. This may annoy those who would rather use another mode of payment, such as a credit card, PayPal, or another service.

User Experience

Beginning crypto investors may find Kraken’s user interface complicated and challenging. The charts and order books on the trading interface can be confusing and complicated to interpret.

Tradable Coins
  • 185+
Payment Options
  • +1
  • 0.01% – 0.16%

More details

Kraken Exchange offers a robust platform for serious crypto traders. It stands out with its diverse coin selection, advanced trading features, and competitive fees. However, its complex interface may prove challenging for beginners. Strong security measures further reinforce its reliability.

  • Margin trading and staking.

  • Support/chat is one of the best.

  • Low trading fees to withdraw Bitcoin (BTC).

  • Provides tons of resources for learning.

  • Only a few fiat currencies.

  • Doesn't accept debit cards or Paypal.

  • Has three apps.

Kraken Review: Top Features & Perks

Let’s look at the top features of the Kraken exchange. The trading offerings on Kraken provided Spot, Margin, and Derivatives Trading options. However, this exchange has so much more to offer.

Proof of Reserve

Kraken has onboarded a third party to do the Merkle Tree method for complete fiscal transparency and security audits. Users can simply navigate to the Settings page and locate the Audit section to verify if their account has undergone an audit.

Proof of reserves.
Proof of reserves.

Bugs Bounty Program

This program allows freelance developers and ethical hackers to find and report any vulnerabilities or bugs in the exchange. Participants will receive rewards in bitcoins based on the severity of the bugs they report, with more severe bugs resulting in higher rewards.

Bug bounty program.
Bug bounty program.

Kraken Pro

Explicitly designed for advanced traders, this platform provides graphs, market metrics, open orders, positions, and the ability to place trades. It currently has over 9 million reviews and a trading volume of $207 billion.

Kraken Pro for advanced traders.
Kraken Pro for advanced traders.

Learning Center

Kraken offers a comprehensive learning center with articles, videos, and podcasts about cryptocurrencies and blockchain.

Kraken Staking

Earn up to 24% APY by holding and staking your cryptocurrencies. Please note that this feature is currently unavailable in the United States.

Cold Wallets

Representatives from Kraken have indicated that 95% of all crypto money is kept in offline “cold wallets” that are not connected to the Internet.

In a worst-case hacking scenario, the platform’s currency would experience minimal impact, as only 5% of the funds would be vulnerable to any potential breach.

Access Global Cryptocurrency Markets with Confidence.

Server Security

Kraken’s professional team actively ensures the security of the company’s servers by keeping them caged and maintaining constant surveillance through CCTV and security personnel.

Although the team hasn’t divulged their location, they have assured that these cages are “super-safe” and that direct security is strictly in safe hands.

Two-Factor Authentication

Kraken has a vital security feature called 2FA (two-factor authentication) that helps safeguard your account.

When you turn on 2FA, you must provide a second piece of information (besides your password) to verify your identity. You can use the Google Authenticator app or a device like ubiKey or Yubico OTP.

kraken trading app
Trading app.

You must enter a code from your 2FA device when you log in or withdraw funds or fiat currency.

Moreover, you will have the autonomy to select an option to enter a code before doing a transaction.

Kraken’s 2FA is secure because it can’t be turned off or reset without a unique code called a Master Key.

Suppose you lose your Master Key and your phone. In that case, you’ll need to contact Kraken’s personal account representative to verify your identity before they can assist you in regaining your account access.

This makes it hard for an attacker to reset your 2FA without your permission.

How to Get Started with Kraken Account?

You can create your Kraken account with minimal effort instantly. Follow the below-described steps:

Step 1: Visit Kraken Website

To use Kraken’s services, you must first sign up for an official account. Ensure that you are on the official Kraken website.

Step 2: Click on the Account Button

Tap the [Create Account] button at the top right corner to instantly create an account.

Create an account.

Step 3: Fill in the Details

First, you must finish the signup process by giving the required information, including your e-mail address, a username (see username advice & requirements), and a strong password (refer to password recommendations & requirements).

Remember that you can’t change your username at this time.

Sign-up process.

Click off the Terms of Service and Privacy Policy before clicking the [Create Account] button.

Step 4: Activate the Email

You can expect to receive an activation e-mail with an activation key shortly.

Enter your activation key into the account activation form or follow the link in the e-mail to conclude the activation process.

Please attempt troubleshooting procedures if you do not receive an activation e-mail.

Step 5: Confirm your Credentials and Get Started

Click the Activate Account button after you have verified your password and, if necessary, fill out the captcha.

Congratulations! You have successfully created your Kraken account without encountering any issues, and now you are all set to begin your trading journey.

Kraken Review: Improvements

Customer Support

Kraken’s customer service is often criticized. Many consumers have noted slow response times and issues resolution. Kraken may hire more support people, improve its ticketing system, and provide more useful resources to troubleshoot issues.

Payment Options

While Kraken currently has limited payment options for funding accounts, the platform boasts many cryptocurrency trading opportunities. Kraken could consider incorporating additional payment choices such as credit cards, PayPal, and other electronic payment methods to enhance user convenience. You would need to pay crypto withdrawal fees, taker fees, and other additional fees.

Platform Stability

Kraken has had technological challenges, but it’s generally stable. Kraken may increase platform stability by investing in more resilient infrastructure and stronger failover procedures.

Verification Procedure

Kraken’s verification process ensures regulatory compliance; however, it can be time-consuming and complicated for some users. Kraken might simplify the verification process without compromising security and compliance to prevent fraud and money laundering.

Educational Resources

Kraken’s tutorials and FAQs might be improved to help new users navigate the platform and comprehend cryptocurrency trading. This would boost user confidence and improve the platform’s usability.

Kraken review: Our Verdict

We conclude this Kraken review that it is an ideal choice, particularly for beginning crypto investors. Kraken earns its esteemed reputation as a premier global bitcoin exchange by upholding meticulous security measures and providing an extensive selection of cryptocurrency and fiat options.

The recent comprehensive updates to its platform are expected to boost user satisfaction.

In contrast, some users have expressed frustration with its customer care and limited payment methods, only accepting bank and wire transfers.

Those who place a high priority on privacy may also wish to consider alternative options for transactions.