If you're planning to start trading cryptocurrencies, choosing the right crypto exchange is essential. In this guide, we'll provide an in-depth Kraken review covering its fees, sign-up process, available features, and user experience, helping you decide if Kraken is the best exchange to launch your crypto investing.
Founded in San Francisco, California in 2011, Kraken is a popular cryptocurrency exchange offering buying, selling, and trading for over 200 cryptocurrencies. Known for its user-friendly platform and multiple international licenses, Kraken has grown significantly and now claims a user base of over 10 million clients across more than 190 countries. With quarterly trading volumes exceeding $207 billion, Kraken stands as a major player in the global crypto market.
The exchange is highly accessible, enabling users to start trading cryptocurrencies with as little as $10. Its intuitive interface caters to both beginners and seasoned traders, offering advanced trading features such as crypto derivatives trading.
Kraken is also renowned for its robust security measures and 24/7 customer support, making it a reliable choice for crypto enthusiasts worldwide. Let’s dive deeper into what makes Kraken stand out from its competitors.
Let’s take a closer look at Kraken’s core features and the main services available to users.
Crypto trading is Kraken’s flagship service. The exchange offers the possibility to trade over 200 digital assets, including well-known cryptos such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Ripple (XRP). You can start trading these cryptocurrencies with as little as $10, making the exchange accessible even to new investors.
Kraken offers two distinct platform versions tailored to user expertise :
It’s worth noting that each version requires a separate mobile app download if you’re trading via your smartphone.
Experienced traders using the Kraken Pro interface can access advanced trading products, including leveraged positions up to 5x for major cryptocurrencies. These leveraged products include Margin Trading and Crypto Futures, allowing investors to amplify their potential returns (and risks).
Kraken also provides a dedicated marketplace to trade NFTs (non-fungible tokens). With more than 550 NFT collections available, you can trade popular collections such as CryptoPunks, BAYC, Doodles, Cool Cats, and many more.
Under the “Earn” tab, Kraken enables users to stake cryptocurrencies and earn additional yield. For example, the annual staking returns are approximately 2-7% for Solana (SOL) and 3-6% for Cardano (ADA).
Two staking options are available :
Kraken even provides a convenient staking reward calculator, allowing you to estimate potential earnings based on current yield rates. Keep in mind these returns are variable and should be viewed as estimates rather than fixed amounts.
The cryptocurrency trading landscape moves rapidly, and Kraken continuously innovates to meet the evolving needs of its users. Available on Google Play and the Apple App Store, the Kraken mobile app provides traders with enhanced flexibility and total control. Users can easily manage their crypto portfolios, execute trades, and track market movements in real-time, no matter where they are.
Here are some of the key benefits we’ve identified when using the Kraken mobile app :
However, despite these strengths, the app does face some criticisms from users.
User reviews from Google Play and Trustpilot show mixed experiences with Kraken’s mobile app. While many traders appreciate its rich features, others occasionally report minor bugs and technical issues, especially during periods of high market volatility. Additionally, some beginners find the app slightly overwhelming due to its extensive trading functionalities.
However, Kraken actively listens to user feedback and regularly updates the app to enhance performance and usability. Overall, the Kraken mobile app is praised for offering significant freedom and flexibility in crypto trading and continues to evolve to meet user expectations.
When trading on Kraken, you’ll quickly realise that using the “Instant Buy” feature isn’t the most cost-effective way to purchase cryptocurrencies. Instead, we recommend using Kraken Pro, the advanced trading platform offering significantly lower fees.
“Instant Buy” transactions typically involve higher fees (up to 1.5% per purchase), while trading through Kraken Pro can dramatically lower your costs to around 0.26% or less per trade.
Therefore, to minimize fees and optimize your trading experience, Kraken Pro is the more economical and efficient choice.
When trading on Kraken, understanding the platform’s fee structure is essential to optimizing your returns. Kraken applies a tiered fee model, which generally rewards traders who provide liquidity (maker fees) versus those who take liquidity (taker fees).
On Kraken Pro, the fees are competitively low, at 0.16% for maker orders (placing orders into the order book, providing liquidity) and 0.26% for taker orders (market orders executed instantly, removing liquidity). The difference is significant, buying directly at market price costs more since it reduces market liquidity, thus incurring higher fees.
For experienced traders engaging in futures trading, Kraken fees are even lower : 0.02% for makers and 0.05% for takers.
When trading on the Kraken NFT marketplace, fees are fixed at 2% per transaction.
Understanding these distinctions can significantly enhance your trading efficiency and reduce unnecessary costs.
Creating a Kraken account is straightforward. Here’s a quick step-by-step guide :
To fully utilize Kraken’s services, you’ll soon be asked to complete a quick identity verification (KYC) process. Simply have your valid ID ready and follow the provided instructions, it usually takes only a few minutes.
Withdrawing funds from Kraken is equally straightforward. Here’s how to easily withdraw cryptocurrencies and fiat money from your Kraken account :
To withdraw ETH via Optimism :
In just a few minutes, your funds should arrive at the chosen address. You can track the withdrawal status anytime from the “Withdraw” section of your account.
Overall, Kraken stands out as a strong and reliable cryptocurrency exchange, combining a wide range of assets, a user-friendly interface, and competitive fees suitable for both beginners and experienced traders. The platform also enjoys a solid reputation for its responsive customer support.
Below is our detailed Kraken rating, highlighting the platform’s strengths and weaknesses :
| Criteria | Rating (out of 5) | Comments |
|---|---|---|
| Usability | 4.2 | Comprehensive interface but with a noticeable learning curve. |
| Security | 4.9 | Industry-leading security, including cryptographic proof of reserves. |
| Features | 4.6 | Robust trading tools ideal for advanced traders. |
| Fees | 3.9 | Competitive fees, slightly above average compared to some competitors. |
| Overall Score | 4.7 |
Pros :
Cons :
While Kraken is not licensed in every jurisdiction globally, its regulatory approvals in prominent regions such as the United States, Canada, UK, and Japan make it one of the most secure and reputable exchanges on the global stage.
Nevertheless, advanced traders seeking extensive features or higher flexibility may find Kraken’s offering slightly restrictive and might consider other platforms, though these alternatives may offer less robust security.
| Feature | Kraken | Bitget |
|---|---|---|
| Services | Spot trading, futures trading, staking, NFT marketplace | Spot trading, futures trading, copy trading, staking |
| Trading Fees | Make r: 0.16% Taker : 0.26% | Maker : 0.02% Taker : 0.06% (lower fees overall) |
| Reliability | Globally available, incl. US, UK, CA, AU, regulated exchange | Internationally trusted, incl. UK, CA, AU, regulated exchange |
| Target Audience | Beginner-friendly to intermediate traders | Ideal for beginners, professional and active traders |
| Feature | Kraken | Coinbase |
|---|---|---|
| Services | Spot trading, futures trading, staking, NFTs | Spot trading, staking, futures (Coinbase International only) |
| Trading Fees | Maker: 0.16% Taker: 0.26% | Maker: 0.40% Taker: 0.60% (higher fees overall) |
| Reliability | Highly secure, available globally (incl. US, UK, AU, CA) | Highly secure, widely regulated in US, UK, EU, AU |
| Target Audience | Beginners to intermediate traders | Ideal for crypto beginners due to simplified user experience |
For traders focused on fees and advanced tools, Bitget provides lower transaction costs and broader features. For balanced reliability and usability, Kraken remains an attractive choice.
Kraken’s user ratings on Trustpilot are mixed, with an average score of 1.4, reflecting diverse user experiences.
On one hand, satisfied users highlight Kraken’s intuitive interface, wide variety of trading features, and responsive customer support. However, several users have expressed concerns about high transaction fees and perceived issues with overly stringent security measures. Complaints also frequently mention frustrations linked to delays during transactions and occasional issues with customer service responsiveness.
While the reviews highlight some valid concerns, it’s important to keep in mind that negative experiences are often more visible online, potentially overshadowing positive user experiences. Kraken actively addresses user feedback and continually updates its platform to enhance user satisfaction.
Léa is a member of the InvestX team, dedicated to guiding users through their learning journey. Passionate about cryptocurrencies, she closely follows market trends. On InvestX.fr, Léa writes articles to help readers decode the latest news and stay informed about the ever-evolving blockchain world.
The main features offered by Kraken Crypto Exchange include spot trading, crypto futures, margin trading, NFT marketplace, and crypto staking. Kraken also provides two trading interfaces: a beginner-friendly version and Kraken Pro, featuring advanced trading tools and lower fees.
Yes, Kraken Exchange supports business accounts. Companies can benefit from specialized customer support, tailored solutions, and higher transaction limits. A business account requires identity verification (KYC) and provides access to advanced trading features, institutional-grade support, and competitive fees suited to corporate needs.
Initially, signing up on Kraken only requires an email address. However, to unlock all features and increase your withdrawal limits, you must complete identity verification (KYC). This involves submitting personal documents to ensure compliance, security, and full access to Kraken’s trading services.
To protect your Kraken account, enable two-factor authentication (2FA), use strong and unique passwords, and regularly monitor login alerts. Kraken also provides additional security recommendations and lets you manage authorized devices, ensuring enhanced protection for your funds and personal information.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
