Kraken Review – A worthy bitcoin exchange?

This detailed Kraken review entails all information about the crypto exchange platform that crypto enthusiasts would need. From deposit methods to trading fees to features and customer support – we intend to elaborate on it all. 

If you’re a crypto enthusiast looking to trade on Kraken, this review will help you make a sound decision. On the flip side, if you’re looking for an exchange platform to trade cryptos, this review is it. 

Frequent questions such as “What coins does the platform support,” “Is Kraken legit?” etc., will be answered in this Kraken review. 

What Is Kraken?

Kraken is a crypto exchange platform where one can buy, sell and trade cryptocurrencies. It allows people to trade cryptos with fiat currencies such as US Dollars, Canadian Dollars, and more.  

Headed by CEO and co-founder Jesse Powell, this United States-based company, The Kraken Market place was established in the year 2011. After a trial and testing period of about two years, the platform was launched in 2013. 

The platform facilitates cryptocurrency-to-fiat trading and also provides price information to the Bloomberg terminal.

Last month, CEO Jesse Powell told in an interview with CNBC that Kraken MIGHT go public via a direct listing as opposed to IPO by 2022. 


Enlisted Cryptocurrencies

Kraken has more than 60 cryptocurrencies enlisted on its platform, including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dogecoin, and more. The platform supports fiat currencies such as USD, CAD, CHF, AUD, GBP, EUR, and JPY. 

There are over 300 trading pairs available on the platform that include fiat-currency pairs such as EUR/USD and others.

Deposit And Withdrawals

On Kraken, you can deposit cryptos and fiat currencies. The minimum deposit amount and deposit fees vary based on the type of currency. 

The primary deposit method for fiat currency is bank transfers. You can also transfer funds using custodians such as Bank Frick, Etana Custody, and others based on the country you live in and the currency you want to deposit. 

The processing time for depositing your currencies ranges from 0 to 5 business days based on the country you are from and the deposit method.

Withdrawal works pretty much the same way, but if you’re a first-time fiat depositor, then your funds will be held for 72 hours before you can withdraw them. 

Trading Options & Fees

Kraken is known to have several trading options and one of the lowest trading fees in the crypto industry. It has a few trading options for you and based on the option you choose, and your fees will vary.

1. Instant Buy

Instant Buy is the fastest way for you to buy and sell cryptocurrencies. However, the trading fees and payment processing fees are different for this option when compared to other options.

For stable coins, you’ll be charged a 0.9% Kraken fee, and for any other crypto or FX pair, you’ll be charged a 1.5% Kraken fee. 

In addition to these, you’ll also be charged the following:

Payment card processing fee: 3.75% + € 0.25 

Online banking: 0.5%

Here, however, if you buy a stablecoin with a Bitcoin, then you’ll be charged a trading fee of 1.5%

2. Kraken Pro

Kraken Pro has a model that’s based on your historical trade volume. Your trading fees depend on your trade volumes for the last 30 days. Your trade volumes from the Instant Buy option will not be taken into account for Kraken pro. 

The higher your volume is, the lower your trading fee will be. This drives people to buy more, sell more, and encourages a habit of creating maximum liquidity.

The maker fee ranges from 0.00% to 0.16%, whereas the taker fee ranges from 0.10% to 0.26%. These numbers are known to be some of the lowest numbers in the crypto industry.

3. Stablecoins & FX Pairs

This structure is applicable when your base currency is a stablecoin, and your trades are of FX pairs such as EUR/USD. Its model is the same as Kraken pro, where your incentives are based on your last 30-day trading volume. The maker and taker fees range from 0.00% to 0.20%.

However, if your quote currency is a stablecoin, then the Kraken pro fees apply over here, and if both the currencies are stablecoins, this fee model is applicable. 

4. Margin Trading

Margin trading allows you to maximize your profits if you’re a frequent trader and better understand the market trends.

With a better trading interface and advanced API access, you can leverage upto 5x with meager roll-over fees. 

The opening fee ranges from 0.02% to 0.01%, and the roll-over fees range from 0.02% to 0.01% per 4 hours.

5. Kraken Futures

Kraken Futures allow you to alleviate market risk and the volatility of cryptocurrencies. With the help of this, traders can leverage upto 50x. Even here, Kraken follows the 30-day historical trading volumes model.

The maker fee ranges from 0.00% to 0.02%, and the taker fee ranges from 0.01% to 0.05%

6. OTC Desk

In 2020, Kraken opened up an OTC desk for all traders who wanted to trade in large volumes. On Kraken, you can interact with traders and make trades without listing them on the public exchange.

The most significant advantages of the Kraken OTC are that there is no trader fee, you’ll get impeccable market insights, and you’ll be guided personally through the complete trading process.

The minimum trade volume is 100,000 USD, and there are 11 traders based in different locations across the globe. They’ll be available 24/7 at your service and guide you at each step.

Mobile App

Kraken has its own mobile app where you can perform all your trading operations on your phone itself. Not only would you not need to use your desktop but also trade on the go. Its UI is pretty easy to use even for beginners and makes navigating around it quite seamless for them. 


Kraken exchange is one of the most trustworthy and secure crypto exchange platforms. To date, it has never been hacked. In fact, they have quite a few security measures to protect their customer information and their funds. 

Moreover, the two-factor authentication feature is provided for added security. 

With 95% of its deposits offline in cold storage, Kraken boasts stringent levels of security. All its information is encrypted, and access is strictly monitored. The various servers are placed in secure cages, which are manned by guards 24/7 and have continuous video surveillance. 

Over and above this, Kraken regularly performs penetration testing on its platform to check for loopholes or potential threats and devises possible solutions to mitigate them. 

Besides all this, Kraken conducts independent audits of the platform with expert auditors who test the system’s security. This way, they prove to third-party organizations and their customers that their security is top-notch and build trust and credibility.

Furthermore, they also have something known as the Bug Bounty Program. This said program allows security researchers and ethical hackers to test the system, find loopholes in it and send a detailed report to Kraken. 

Kraken, in return, would review these reports and conduct their analysis. If the result is found, the researchers and ethical hackers can get rewards based on the flaw reported. 

All-in-all, these are some of the most prominent security features of Kraken. Their measures showcase that security is one of their highest priorities, and they are pretty proactive in maintaining it. 

Customer Support

Kraken has an exhaustive FAQ section that explains every step of the process in an easy-to-understand manner. Extra effort has been put into explaining terms in a fool-proof manner so that even beginners can understand everything. 

It has a built-in chat where you can talk to people live if you have any sort of doubts. Alternatively, you can also send them queries, and they’ll get back to you. 

However, Kraken’s customer service has been of question in the past. It was infamous for not reverting to the customers in time and not being prompt enough. This lead to many Kraken reviews on platforms such as Trustpilot being negative and not up to the mark.

Though this was the sentiment previously, Kraken has revamped several of its security and customer service features. They’ve made themselves more accessible, and the complete process of trading simple for anyone and everyone.



So in the Kraken exchange review, I believe overall, it is a good crypto exchange platform for traders of all kinds – whether they are beginners, enthusiasts, or experts. It supports over 60 cryptocurrencies, 7 different fiat currencies, and has over 300 trading pairs. 

  • The deposit and withdrawals are pretty simple, with minimal fees. 
  • The market spreads of cryptocurrencies are pretty tight, and the trading fees are low compared to industry standards. 
  • The security measures employed are top-notch and with its measures and systems being one of the most trustworthy ones in the industry. 

Having said all this, customer service is one aspect that might not be on par with the remaining features of the exchange platform. But overall, it is a pretty good platform for you to perform your trades. 


  • Low trading fees
  • Proof of reserve audit
  • Bug Bounty program
  • Top-notch security
  • Easy deposit and withdrawals
  • Over 60 cryptocurrencies and 300 traded pairs
  • Multiple trading options


  • The customer support team isn’t proactive enough
  • Doesn’t support certain fiat currencies

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