Kraken Review 2021: Security, Fees & Special Features

The webs most detailed Kraken review: The longest surviving digital assets trading platform on the market. Why is Kraken such a popular pick by so many traders and what attracts them to stay on the platform? Our expert got his hands dirty and started digging to find out exactly what makes this veteran cryptocurrency exchange special.

4.14/5
Excellent
Regulated by
FinCEN, FCA, FINTRAC, AUSTRAC
United States flag
Kraken
Founded May 2011
Owner Payward Inc
Type Cryptocurrency Exchange
Fees 0.26%
account minimum 1$
Best for All Traders

Why Kraken

In this section of our Kraken review we highlight 6 special features that deserves extra attention.

Stake your cryptocurrencies and earn passive income from coins by holding them locked up.
Staking
Stake your cryptocurrencies and earn passive income from coins by holding them locked up.
Make large trades directly with a counterparty without going through the public order book.
OTC Market
Make large trades directly with a counterparty without going through the public order book.
Trusted by traders and investors for over 5 years on the market has earned this platform the veteran status.
Veteran Trading Platform
Trusted by traders and investors for over 5 years on the market has earned this platform the veteran status.
Trade on a preimum trading terminal that features real-time cryptocurrency market data and charting.
Cryptowatch
Trade on a preimum trading terminal that features real-time cryptocurrency market data and charting.
Trade or invest on the go with your smartphone. Keep track of your portfolio where ever you are.
Trading App
Trade or invest on the go with your smartphone. Keep track of your portfolio where ever you are.
This status is earned only by the safest and most trusted trading platforms with a proven track record of being safe.
High Security
This status is earned only by the safest and most trusted trading platforms with a proven track record of being safe.

About Kraken

Kraken is a digital assets trading platform, or in other words, a cryptocurrency exchange for trading. It was launched back in 2011, 10 years ago, and is one of the most used exchanges in the world. Jesse Powel is the founder and CEO of Kraken and the operating company is Payward Inc. The main office, or headquarter, is located at this address: SoMa, San Francisco, CA 94103, United States.

Kraken is definitely a leader in the blockchain revolution when it comes to serving the needs of traders and we think the platform is very impressive in all its glance by showing everyone how to truly adopt new technology.

Why use Kraken

Kraken is for both beginners and advanced traders. There are several different trade interfaces ranging from a basic buy and sell function to a more complex trading platform with advanced features. If you are looking for security and stability, then Kraken is the best choice for you.

The exchange is regulated in five large regions of the world, the United States, Canada, the UK, Japan, and Australia. The operators have put a large emphasis on safety first for all its users and you can feel safe by holding your cryptocurrency funds in this wallet.

Trading on Kraken

Day trading, swing trading, and position trading are very welcome on this advanced trading platform. At the moment clients have the option to use both Tradingview and Cryptowatch, two frontrunners when it comes to charting and technology. What’s cool about Kraken is that you can use hotkeys for navigating the interface.

Staking is another option if you have more of an investment approach and want to let your capital work for you over time. Head over to the staking section and browse all the different coins you can stake, including the average yield per year.

Payment methods and limits

Kraken offers these payment methods: VISA, Mastercard, Bank transfers, SWIFT, SEPA, FPS, and of course cryptocurrency deposits. The limits are definitely in the upper bracket and if you choose to go for full verification on your account you will have unlimited cryptocurrency withdrawals and deposits.

Things we don’t like

Kraken doesn’t have a functioning live chat, and that bothers me. I know that we are in the middle of a bitcoin boom and everyone is trying to contact them. But I also think that an exchange of this magnitude should focus more on the customer support. It’s very annoying to wait for an email response when there is a live chat option.

The futures pit is no offered to US traders which is a little sad since the platform is operating in the country.

Trading Fees

Products
Maker fee
Taker fee
Cryptocurrency
0.16 %
0.26 %
Indices
0.20 %
0.20 %
Futures
0.02 %
0.05 %
Forex
0.20 %
0.20 %

Products

Cryptocurrency
Cryptocurrency
Indices
Indices
Futures
Futures
Forex
Forex

Trading Platforms

Cryptowatch
Cryptowatch
Webtrader
Webtrader
Own trading platform Windows + Mac
Own trading platform Windows + Mac
Tradingview
Tradingview

Order Types

MO - Market Order
LO - Limit Order
SP - Settle Position
SL - Stop Loss
TP - Take Profit
C - Conditional
SLL - Stop Loss Limit
TPL - Take Profit Limit
GTC - Good till Cancelled
CO - Custom Order

Devices

Desktop
Desktop
Smartphone
Smartphone
Web
Web
Tablet
Tablet

Special Features

Real Stop Loss
Altcoins
Demo Account
Paper Trading
Buy Cryptocurrency
Trading Forum
Education
Video Guides
Market News
Trade Alerts
Leverage Trading
Margin Trading
Hot Keys
Advanced Charting
Advanced Trading Platform
Advanced Trading Tools
Institutional Trading
Technical Indicators
Quick Registration
2FA Verification
Beginner Friendly
Experienced Trader Account
Market Analysis
Cryptocurrency Wallet
Fiat Account
High Limits
KYC
Short Selling
Customisable Interface
Security Of Funds
Cold Storage Wallet
Personal Account Manager

About the special features on Kraken

Kraken is not only a very safe and trusted digital asset trading platform, but it’s also the home of very versatile special features. Some of these features will not be seen one many other exchanges such as Cryptowatch charts, Real stop-loss orders, trade alerts, OTC market, institutional trading option, and hotkeys for the trade interface.

This makes Kraken a very popular choice by both amateurs and more experienced cryptocurrency traders and we can definitely see why they stay loyal to the platform. Since there are so many different products, Kraken is a favorite among a large audience and they’ve done a good job of keeping traders happy with relatively low fees and advanced trading tools.

Oldest cryptocurrency exchange

We are very impressed with the long track record of the Kraken platform. They have been serving traders for 10 years now in 2021 and the exchange keeps growing. This is another reason to trust Kraken when a platform has returning traders and a growing customer base month after month. We truly recommend that our traders test Kraken.

3 trading apps

Yes, it’s true. It may sound a little weird but Kraken is offering 3 different crypto trading apps for its clients. It all depends on what you are going to trade. First, there is the standard Kraken app, which is a perfect app for beginners just starting out. Second, you have the Kraken Pro trading app which brings all the trading features from the normal exchange into your smartphone. Third, the Kraken Futures app is an app for experienced traders who are looking to up their game. Here you have access to 50x leverage and advanced trading tools.

Learning center

Kraken has a great learning center for beginners who wants to take their time to digest the platform with video guides and tutorials. It’s nothing wrong with taking some extra time to get to know the exchange before you start trading with real money. A huge plus to Kraken for adding this feature!

OTC desk

If you want to trade larger size, $10.000 or up to $1.000.000, no problem! Head over to the Kraken OTC desk and dive deep into the liquidity pool and place large orders. The OTC desk is mostly for institutional and high net-worth clients with deep pockets. Here you will be served with expert market insight and you will always have access to 1 on 1 service from the Kraken team.

Account manager

This feature is for experienced traders. You will have full access to the customer support team and there will always be someone to talk to if any issue arises. This feature is mostly to get better and faster service than you would with a standard account and if you are a more seasoned trader it’s a good choice for you.

Funding

Visa
Visa
Mastercard
Mastercard
Cryptocurrency
Cryptocurrency
Bank transfer
Bank transfer
SWIFT
SWIFT
SEPA
SEPA
Faster Payment System (FPS)
Faster Payment System (FPS)

Accepted Currencies

USD ($)
EUR (€)
CHF (CHF)
JPY (¥)
GBP (£)
CAD ($)
AUD ($)

Limits

Max Withdrawal Limits
$500000 monthly
Min Withdrawal Limits
$2
Min Deposit Limits
$1

Languages

United Kingdom
English
Spain
Spanish
France
French
Italy
Italian
Portugal
Portuguese
Russian Federation
Russian
Vietnam
Vietnamese
Turkey
Turkish
Ukraine
Ukrainian
China
Mandarin (Chinese)
Japan
Japanese
Korea, Republic of
Korean

Restricted Countries

Iran, Islamic Republic of
Korea, Democratic People"s Republic of
Syrian Arab Republic
Cuba
Venezuela, Bolivarian Republic of
Belarus
Burundi
Central African Republic
Democratic Republic of the Congo
Iraq
Lebanon
Libya
Somalia
Myanmar
Nicaragua
Yemen
Zimbabwe
Afghanistan
Comoros
Eritrea
Lesotho
Papua New Guinea
Turkmenistan

Security

Is Kraken safe?

Kraken is considered to be one of the safest cryptocurrency exchanges to use for buying, selling, and actively trading digital assets. With regulations in five different GEOs, Tradingbrowser has given Kraken the Excellent rating and fully recommends all operations on this trading platform.

Is Kraken regulated?

Yes, Kraken is regulated in the USA, Canada, UK, Japan, and Australia.

Support

Live Chat
Live Chat
Contact Form
Contact Form

Frequently asked questions

Read the most frequently asked questions about Kraken. Find answers without searching the web.

Yes, it's one of the oldest crypto exchanges and it's regulated in five different regions in the world. Along with that, there is a separate page only for account security where you can activate 2FA verification and extra safety features.

Yes, it is. This exchange is suited for both beginners and advanced traders. There are several trade interfaces that are aimed at clients with all skill levels. We recommend all beginners to use Kraken.

The exchanges are very similar when it comes to security. However, Kraken is better suited for active traders and Coinbase is more for investors. Both a good for beginners.

No, the exchange has no records of ever being hacked.

There are a standard maker and taker fee for each product on the platform. Each product has a different level of fee and all fees can be seen in this review.