Pros

  • Easy to use Kraken interface
  • Kraken offers a variety of features that appeal to both beginner and experienced investors
  • Kraken is one of the few exchanges that allow you to deposit USD directly from your bank account
  • Kraken’s margin trading feature allows you to trade with up to 5x leverage
  • Kraken also offers staking, which allows you to earn rewards for holding supported cryptocurrencies in your Kraken account
  • Kraken is a highly secure exchange with a number of security features in place to protect your account
  • Kraken offers 24/7 customer support through a variety of channels

Cons

  • Kraken’s fees are high for market takers
  • Kraken is not available in all countries

As you wade further into the crypto ocean, you’ll begin to realize that there are cryptocurrency exchanges that offer support for various coins, features, and security. Many agree that Kraken is among the best in the business, especially since it offers advanced tools like margin trading and staking right on the platform.

Kraken wants to be the most secure crypto exchange on the market while providing an easy-to-use platform for both experienced and novice investors. Is Kraken the right exchange for you? Check out our Kraken review to find out.

Kraken

User Score

10

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Kraken Review Kraken Website

Kraken History

Kraken was founded in 2011 by Kraken CEO Jesse Powell after he experienced firsthand the difficulty of trying to obtain Mt. Gox customer support during the Bitcoin hack. It is one of the oldest cryptocurrency exchanges and was one of the first to be listed on Bloomberg Terminal.

The site went through a tumultuous period in 2015 when Mt. Gox, then the largest Bitcoin exchange, filed for bankruptcy. Kraken was one of the few exchanges that did not lose their customers’ funds during the Mt. Gox hack.

Kraken has since continued to grow and expand its services. In 2016, Kraken was the first exchange to offer margin trading with up to 5x leverage. In 2017, Kraken introduced staking, becoming one of the first exchanges to offer this service.

Kraken is headquartered in San Francisco, California, and has offices in New York, Berlin, and Tokyo. Kraken is a US-based exchange and one of the largest in terms of the daily trading volume. Investors and traders can use Kraken to buy, sell, and trade a variety of cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, and more.

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Features

Kraken didn’t become one of the top exchanges in the crypto world by accident. There are plenty of features available on the platform that appeal to a wide range of crypto investors.

Kraken Review Some Features

Easy to Use Kraken Interface

Kraken’s user interface is intuitive and easy to use. Kraken’s platform is perfect for both beginner and experienced investors. Kraken offers a variety of features that will appeal to both groups.

For beginner investors, Kraken offers a simple way to buy and sell cryptocurrencies. Kraken also provides an easy way to convert fiat currency to cryptocurrency. Kraken is one of the few exchanges that allow you to deposit USD directly from your bank account.

Kraken also offers more advanced features for experienced investors. Kraken’s margin trading feature allows you to trade with up to 5x leverage. Kraken also offers staking, which allows you to earn rewards for holding supported cryptocurrencies in your Kraken account.

Kraken is one of the few exchanges that offer both spot and margin trading. Kraken also offers OTC trading for large orders. Kraken’s OTC desk is available 24/7 and allows you to trade with a Kraken representative.

Kraken Security

Is Kraken safe to use? Kraken is a highly secure exchange with a number of security features in place to protect your account. The platform offers 2-factor authentication (2FA) for all accounts. Plus, the exchange uses PGP/GPG encryption for all email communication.

Kraken employs a number of security measures to protect your account including:

  • Two-factor authentication (2FA)
  • PGP/GPG encryption for all email communication
  • Kraken Security Labs
  • Global Settings Lock
  • IP Address Whitelist

Kraken also offers a number of features to protect your account including Kraken Security Labs, a dedicated team of security experts that work to identify and investigate security threats. The exchange supports a Global Settings Lock, which allows you to lock your account settings to prevent unauthorized changes. You’ll also have access to an IP Address Whitelist, which allows you to restrict access to your account from certain IP addresses.

And because Kraken claims that nearly all of their assets are held in cold storage, your funds will be safe from hackers and other online threats.

Kraken

User Score

10

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Kraken Customer Support

Kraken offers 24/7 customer support through a variety of channels including live chat, email, and phone. The platform also offers a comprehensive FAQ section on its website.

Kraken’s customer support is available 24/7 through a variety of channels including:

  • Live chat
  • Email
  • Phone
  • Kraken Support Center
  • Kraken Blog

Kraken also offers a comprehensive FAQ section on its website. Its customer support is excellent and they are always willing to help with any issues you may have.

Advanced Trading

Kraken Review Advanced Trading

Experienced investors and traders will enjoy additional features available on the Kraken platform. Not only will you have access to the most popular coins on the market, but you’ll also have the ability to perform margin trading, staking coins, and other advanced features.

With margin trading, investors can borrow money funds using their current investments as collateral. While this can result in significant gains, it can also cause large losses, which you’ll have to cover. Margin trading is not as common in U.S. exchanges, so Kraken is an excellent option if you want this feature.

Users can also stake certain coins using the Kraken platform. When you’re staking, you earn returns and rewards for coins that you lock onto the platform. Staking is used to confirm transactions on the coin’s network, which increases security and decentralization. Kraken users typically receive their rewards twice a week.

Kraken Trading Fees

Kraken has a simple fee structure with low fees for market makers and high fees for market takers. Kraken’s fees are based on a 30-day trading volume. Kraken also offers discounts for high-volume traders.

Kraken’s fees are as follows:

  • Tier 1: 0.16% maker fee, 0.26% taker fee
  • Tier 2: 0.14% maker fee, 0.24% taker fee
  • Tier 3: 0.12% maker fee, 0.22% taker fee
  • Tier 4: 0.10% maker fee, 0.20% taker fee
  • Tier 5: 0.08% maker fee, 0.18% taker fee

Kraken also offers discounts for high-volume traders. Kraken’s fee schedule is designed to encourage market makers and discourage market takers. Kraken’s fees are very competitive when compared to other exchanges.

Kraken

User Score

10

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Supported Cryptocurrencies

Kraken supports a wide range of cryptocurrencies, including popular coins like Bitcoin, Ethereum, Litecoin, and Monero. Kraken also supports a number of altcoins, including lesser-known coins like Augur and Gnosis.

Kraken is one of the most popular cryptocurrency exchanges with a wide range of supported cryptocurrencies. So what coins does Kraken support? Here’s a list of just a few you can buy, sell, and trade:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Stellar Lumens (XLM)
  • Solana (SOL)
  • Sushi (SUSHI)
  • Uniswap (UNI)
  • Dogecoin (DOGE)
  • Cardano (ADA)
  • Polka Dot (DOT)
  • Litecoin (LTC)
  • Polygon (MATIC)
  • Ripple (XRP)
Kraken Review Supported Cryptocurrencies

This is only the beginning. There are nearly 60 coins on the platform including a few stablecoins. This gives traders a lot of options to choose from as the market changes.

Kraken’s Mobile App

Kraken also has a mobile app that allows you to trade on the go. The Kraken app is available for Android and iOS devices. The Kraken app allows you to trade on the go, monitor your account, check prices, deposit and withdraw funds, and more.

There’s also a KrakenPro app, still available for free, that has even more advanced features.

Kraken Alternatives

Kraken isn’t going to be right for everyone. These leading platforms offer good alternatives to Kraken.

Coinbase

Kraken Review Coinbase

Coinbase is one of the most popular cryptocurrency exchanges with more than 100 supported cryptocurrencies. Coinbase also offers a mobile app that allows you to trade on the go.

The benefit of using Coinbase is that it’s a very user-friendly platform that is perfect for beginners. Coinbase also offers a great mobile app.

The downside of using Coinbase is that it’s not available in all countries and it has high fees for market takers.

Binance

Kraken Review Binance

Binance is another popular cryptocurrency exchange with more than 80 supported cryptocurrencies. Binance also offers a mobile app that allows you to trade on the go.

The benefit of using Binance is that it has very low fees for all users. Binance also offers a great mobile app.

The downside of using Binance is that it’s not available in all countries and it can be challenging to use for beginners.

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FAQs

Is Kraken safer than Binance?

Kraken is a very safe and secure exchange with robust security features. Kraken also offers 24/7 customer support. Binance is also a safe and secure exchange with robust security features. However, Binance does not offer 24/7 customer support, which can make some users feel uncomfortable.

While Kraken offers security features like 2FA, PGP/GPG encryption, security labs, global settings lock, and IP address whitelisting, Binance has 2FA, access control, security notifications, and KYC protection. Both are very secure but use different technologies.

Is Kraken better than Coinbase?

It depends on what you’re looking for. Kraken offers a variety of features that appeal to both beginner and experienced investors. Kraken also offers margin trading and staking. Coinbase is a very user-friendly platform that is perfect for beginners. Coinbase also offers a great mobile app.

So, Kraken is better if you’re looking for a more advanced platform with more features. Coinbase is better if you’re looking for an easy-to-use platform that is perfect for beginners.

What are the Kraken fees?

Kraken has high fees for market takers. Kraken’s maker fee is 0%, while the taker fee ranges from 0.16% to 0.26%. Kraken also has deposit and withdrawal fees.

Can you buy stock with Kraken?

No, Kraken does not offer stock trading. Kraken is a cryptocurrency exchange that offers a variety of features for both beginner and experienced investors.

If you’re looking to buy stock, we recommend using a different platform like eToro. Kraken is best for cryptocurrency trading.

eToro is the world’s leading social trading platform with over 20 million registered users. eToro offers a variety of features that Kraken does not, like stock trading, CFD trading, and social trading.

eToro also has much lower fees than Kraken. For example, eToro’s stock trading fees are only 0.1% compared to Kraken’s cryptocurrency trading fees of 0.26%.

Has Kraken been hacked?

Kraken has not been hacked. Kraken is a very safe and secure exchange with robust security features. Kraken also offers 24/7 customer support.

If you’re looking for a safe and secure exchange, we recommend Kraken. Kraken is one of the most popular cryptocurrency exchanges with more than 5 million users. Kraken also has a mobile app that allows you to trade on the go.

Is Kraken available in all countries?

No, Kraken is not available in all countries. Kraken is only available in the following countries: the United States, Canada, Japan, and the European Union. Kraken is not available in China.

Kraken

User Score

10

Promotion

Get $10 in BTC when signing up using our link

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