Kraken Cryptocurrency Exchange Review : Pros & Cons

Kraken Cryptocurrency Exchange Review : Pros & Cons

About Kraken

Kraken is a US-based cryptocurrency exchange where users can buy, sell and trade various assets with relatively low commissions. Clients can also earn rewards through coin staking. The exchange has a leading level euro volume and liquidity and allows users to trade over 100 crypto assets and 7 fiat currencies, including USD, CAD, EUR, GBP, JPY, CHF and AUD, on-the-go with a web platform and mobile apps.

Founded in 2011, it was one of the first few crypto exchanges offering spot trading, derivatives and index products. Today, Kraken Cryptocurrency company offers numerous products and services, including but not limited to: spot trading, margin trading, futures, indices, stakings, OTC and an upcoming non-fungible token (NFT) marketplace. The exchange serves over 8 million traders and institutional clients, and is backed by Digital Currency Group, Blockchain Capital, Tribe Capital, Hummingbird Ventures and more.

Information Table

Exchange Name Kraken
Exchange Service Spot and futures trading
Exchange Launch Year2011
Made InUS
Mobile App Android & IOS
Fiat Option Available
2FA SecurityAvailable
Trading FeesFees are charged on a per-trade basis.
Withdraw FeesDepend on currency
Referral ProgramUp to 20% of the commission
SupportEmail & Live Chat Option Available
Official WebsiteClick Here To Visit

How To Register At Kraken Exchange ?

To register on Kraken , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

How To Register At Kraken Exchange ?

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Kraken Cryptocurrency Account ?

There is no mandatory verification at Kraken , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of 2 BTC per day. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitstamp, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Kraken Crypto Exchange ?

There are two main options for topping up your balance on Kraken. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

  • Go to the “Deposit” section from the “Assets” menu.
  • From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
  • The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
  • You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Kraken Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Kraken Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Leading fees across all products

Whether you’re just getting started on your investing journey or you’re a seasoned crypto trader, you’ll find a Kraken product that fits your needs at a competitive price point you’ll love. Browse the table below to learn more about the fee structure for each of offerings. 

Instant Buy

The fee for buying, selling or converting all cryptoassets using Instant Buy is displayed before the transaction is submitted and may differ for transactions that are similar. Fees depend on several variables including but not limited to transaction size, assets being transacted, payment method and market conditions.


Kraken Transaction FeeCreator EarningsListing Fee; Cancellation Fee; Deposit FeeWithdrawal Fee
2%Creator Earnings assessable on NFT transactions vary from collection to collection.

Creator Earnings are subtracted from an NFT Seller’s sale price.
$0For Ethereum-based transactions: 0.01 ETH

For Solana-based transactions: 0.02 SOL

Spot Crypto

30- Day Volume (USD)MakerTaker
$0 – $50,0000.16%0.26%
$50,001 – $100,0000.14%0.24%
$100,001 – $250,0000.12%0.22%
$250,001 – $500,0000.10%0.20%
$500,001 – $1,000,0000.08%0.18%
$1,000,001 – $2,500,0000.06%0.16%
$2,500,001 – $5,000,0000.04%0.14%
$5,000,001 – $10,000,0000.02%0.12%

Low fees for both makers and takers

Almost all of cryptocurrency pairs follow the same fee schedule, which incentivizes market makers to increase liquidity – meaning it’s easier for you to execute trades at the price you want.

Features Of Kraken Crypto Exchange

Available At Android & IOS Store

Kraken Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading .

Range of cryptocurrencies

Kraken has over 160 coins and deals with seven fiat currencies. That’s not the biggest selection of digital currency you’ll find, but it’s comparable to some of the best cryptocurrency exchanges. And it’s a step up from many brokers that only offer a handful of well-known coins. Kraken also boasts a high liquidity, meaning it is easier to buy and sell at a fair price.

Reasonable fees

Kraken Exchange fees are on par with several exchanges. It isn’t the cheapest, but its maker-taker fees are lower than, say, Coinbase. Trading fees differ from exchange to exchange and often depend on how much you trade each month. Look at how much it will cost you to deposit and withdraw money as well as what you’ll pay for each transaction. Be aware that fees can add up if you use the instant buy feature rather than the pro platform. I learned the hard way that the fees are much higher with this feature.

Kraken Legal In The US?

Yes, Kraken is legal in the US & all American residents can use Kraken except residents from Washington or New York. Kraken Cryptocurrency exchange is based in the US and is registered with FinCEN, complying with all the necessary legal and regulatory requirements to serve clients. USA residents can buy, sell and directly trade cryptocurrencies using this exchange.

Passive earning tools

In the Passive Income section of Kraken , you can invest USDT or BTC and earn daily profits. At the same time, the exchange guarantees the receipt of the declared profit, since even in the event of a deterioration in the market situation, it will cover payments from its own funds until it develops a new strategy.

Mind Blowing Design

They’ve done a great job with making the homepage easy to navigate. The only drawback is that, with the white background, it can be hard on your eyes. Other than that, you’ll find their charts and trade tools easy to use if you’re already familiar with Kraken Cryptocurrency Exchange.

24/7 Live Chat

If you’re awake, we are too. When you need help, our team of experts will work with you via our 24/7 live chat to reach a quick and efficient resolution.

Quick and reliable support by email

With industry leading satisfaction rates and response times, as well as support in multiple different languages, we are always available by email to lend a helping hand – no matter the issue.

Get the resources you need on Support Center

The Support Center is loaded with in-depth articles to help you troubleshoot problems or learn more on your own.

Kraken Conclusion

Kraken is a popular cryptocurrency exchange platform, known for its security measures and high liquidity. It offers trading in a wide range of cryptocurrencies and fiat currencies, making it a convenient platform for both new and experienced traders. However, like all cryptocurrency exchanges, Kraken is not without its drawbacks, such as long verification times and periodic downtime during high-volume trading periods. Overall, Kraken is considered a reliable and trustworthy platform for buying, selling, and trading cryptocurrencies.

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