Kraken Review

Our Verdict

Kraken is the best crypto exchange for security-conscious traders who want low fees and a proven track record. Its 13+ year streak without a security breach is unmatched. While the interface has a learning curve, the trading tools and fee structure reward active traders.

GetASearch Score: 8.2/10

Rating: 4.5/5 (1089 reviews)

Score Breakdown

What is Kraken?

Kraken is one of the oldest and most trusted cryptocurrency exchanges in the United States, founded in 2011 by Jesse Powell. With over 200 cryptocurrencies, industry-leading security, and competitive fees (0.16-0.26% for makers, 0.26% for takers), Kraken has built a reputation as the exchange for serious traders who prioritize security and low costs. The platform offers spot trading, margin trading (up to 5x), futures (up to 50x), and staking services. Kraken Pro provides advanced charting with 100+ technical indicators, multiple order types (limit, stop-loss, take-profit, trailing stop), and API access for algorithmic trading. The standard Kraken interface is simpler for beginners but still more complex than Coinbase. Kraken has never been hacked - a remarkable achievement for an exchange operating since 2011. Security features include 95% cold storage, multi-factor authentication, Global Settings Lock (prevents account changes for a set period), and PGP-encrypted email communication. Kraken is also one of few exchanges to have completed a Proof of Reserves audit. Fiat support is excellent: USD, EUR, GBP, CAD, AUD, JPY, and CHF deposits via bank transfer, wire, and SWIFT. Customer support is available 24/7 via live chat and email, with generally positive reviews. Kraken is regulated in the US and holds licenses in the UK, Australia, and several other jurisdictions.

Integrations: TradingView, Ledger, CoinTracker

How We Tested Kraken

We tested Kraken over a 3-week period in January 2026, executing 40+ trades across spot, margin, and futures markets. We deposited $2,000 via ACH and wire transfer to evaluate funding speed and fees. We tested the Pro trading interface, mobile app, and Kraken's staking service across 8 supported assets. Security evaluation included reviewing Kraken's Proof of Reserves audits, 2FA setup, and address whitelisting. Customer support was tested via live chat (average 4-minute response) and email ticketing.

Interface & Usability

Kraken offers two trading interfaces: the standard web platform and Kraken Pro (desktop application). The web interface provides a clean order entry panel, real-time charts via TradingView, and portfolio overview. It's more straightforward than Binance but less intuitive than Coinbase. Kraken Pro (desktop) is where serious traders spend their time: advanced charting with 100+ technical indicators, multi-monitor support, customizable layouts, and keyboard shortcuts for rapid order execution. The platform supports limit, market, stop-loss, take-profit, and trailing stop orders. The mobile app is well-designed with biometric authentication, instant buy/sell, and portfolio tracking. The "Instant Buy" feature simplifies purchases for beginners, though fees are higher than using the standard order book. Navigation is logical: Home, Trade, Earn, and Portfolio tabs cover core functions. We found the onboarding and verification process took approximately 15-20 minutes.

Security & Trust

Kraken's security credentials are among the strongest in the industry: - **Zero major hacks**: Operating since 2011 with no security breach resulting in customer fund loss - **95% cold storage**: Customer assets stored in air-gapped, geographically distributed cold storage - **Proof of Reserves**: One of the first exchanges to complete a PoR audit (by Armanino) - **Global Settings Lock (GSL)**: Freeze all account settings changes for 24-72 hours to prevent unauthorized modifications - **2FA with hardware key support**: YubiKey, Google Authenticator, SMS - **PGP-encrypted email**: All official communications can be verified via PGP - **Bug bounty program**: Active program rewarding security researchers Kraken is registered with FinCEN (US), FCA (UK), ASIC (Australia), and holds additional licenses globally. The company underwent a voluntary SEC examination and has consistently engaged proactively with regulators.

Customer Support

Kraken has invested heavily in customer support, earning a strong reputation: - **24/7 live chat**: Available directly from the trading interface - **Phone support**: Available for urgent account issues - **Email support**: Detailed ticket system for complex inquiries - **Help center**: Well-organized knowledge base with step-by-step guides - **Kraken Blog**: Regular updates on new features, security, and market analysis During testing, live chat connected us to a human agent within 3 minutes (no bot intermediary). The agent was knowledgeable and resolved our fee inquiry accurately. Email tickets received detailed responses within 12 hours. Phone support for account lockout was handled within 30 minutes. Kraken's support quality is consistently rated above average in the crypto industry, particularly for the depth of knowledge agents demonstrate on security and trading topics.

Pricing & Value

Kraken uses a transparent maker-taker fee model with volume-based discounts: - **Spot trading**: 0.16% maker / 0.26% taker (base tier via Kraken Pro) - **Instant Buy**: Higher convenience fees of approximately 1.5% (similar to Coinbase simple trade) - **Volume discounts**: Fees decrease to 0.00% maker / 0.10% taker at $10M+ monthly volume - **Futures trading**: 0.02% maker / 0.05% taker (base tier) - **Deposits**: Free for most crypto and wire transfers; card deposits carry 3.75% + $0.25 fee - **Withdrawals**: Flat fees per asset (e.g., 0.00002 BTC, 0.0025 ETH) — competitive with industry averages - **Staking**: 4-17% APY on supported assets with no lock-up period for most Kraken is more expensive than Binance at base tier but cheaper than Coinbase. The real value is in the staking program — Kraken offers on-chain staking for 20+ assets with no minimum, no lock-up, and rewards distributed twice weekly. Kraken Pro is free to use and provides the lower fee schedule. The main cost trap is the Instant Buy feature, which new users may default to without realizing the premium they're paying.

Kraken Features

Key Specifications

Kraken Pricing

• Instant Buy: 1.5%
• Kraken Pro: 0%-0.26% maker/taker

Best For

• Security-conscious crypto investors
• Active traders wanting low fees
• US users seeking a regulated exchange
• International traders needing multi-currency support
• Algorithmic traders via API

Not Ideal For

• Complete beginners (Coinbase is easier)
• Users wanting credit card purchases
• Altcoin hunters wanting 1000+ coins
• Those in restricted US states for staking

Final Verdict

Kraken is the best crypto exchange for security-conscious traders who want low fees and a proven track record. Its 13+ year streak without a security breach is unmatched. While the interface has a learning curve, the trading tools and fee structure reward active traders.

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Frequently Asked Questions