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.
Pros
• Cryptocurrency exchange with high security
• Suitable for both beginners and experienced traders
• Fully regulated digital asset trading platform
Cons
• Poor customer support for entry-level traders
• Lack of tool to track trading performance
• No rebate on the maker fees
Why Kraken
In this section of our Kraken review we highlight 6 special features that deserves extra attention.
About Kraken
Kraken is an American crypto exchange that 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 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. Several different trade interfaces are ranging from a basic buy and sell function to a more complex day trading platform for crypto 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.
Kraken category rating
| Costs: | 4.0/5 |
| Security: | 4.5/5 |
| Trading Features: | 4.0/5 |
| User-friendliness: | 4.0/5 |
| Educational Resources: | 4.0/5 |
| Mobile-Friendly: | 4.5/5 |
| Funding: | 4.2/5 |
| Customer Support: | 3.8/5 |
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 customer support. It’s very annoying to wait for an email response when there is a live chat option.
The futures pit is not offered to US traders which is a little sad since the platform is operating in the country.
Kraken Trading Fees
Products
Trading Platforms
Order Types
Supported Devices
Special Features
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 on many other exchanges such as Cryptowatch charts, crypto exchange with stop-loss orders, trade alerts, crypto OTC market, institutional trading options, 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 back 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 a 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.
Our own experience with Kraken
Kraken Funding Methods
Accepted Currencies
Limits
| Max Withdrawal Limits | $500000 monthly |
| Min Withdrawal Limits | BTC 0.0005 |
| Min Deposit Limits | $1 |
Kraken Withdrawal Fee
| Method | Fee |
|---|---|
| Cryptocurrency | BTC 0.00002 |
| USD | $0 |
Languages
Restricted Countries
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
Similar Alternatives
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.
Review Sources
The editorial team of Trading Browser is required to use first-hand sources to collect and share information regarding the businesses we promote. Among these sources, you will find LinkedIn profiles, Trustpilot reviews, Sitejabber ratings, whitepapers, government reports, and other reputable sources. Below is a shared list of the article sources used for this review.
- LinkedIn – “Kraken Company“
- Trustpilot – “Kraken.com“
- Financial Crimes and Enforcement Network – “MSB Registrant“
- FINTRAC – “Money Service Business Search“