Kraken review
- Fiat currencies
- 7
- Supported assets
- 379
Our verdict
Kraken lets you trade hundreds of cryptocurrencies on a user-friendly platform and app, but check the fees that apply before you start trading.
Kraken is a global crypto exchange that needs no introduction. Launched in 2013, it’s one of the oldest and best-known trading platforms, offering access to over 600 crypto assets.
Canadians can use Kraken to quickly and easily buy crypto with CAD, with support for a wide range of convenient deposit methods. Beginners will appreciate the app's user-friendly interface and handy educational materials. But experienced traders are also catered for with Kraken Pro, an advanced platform that offers charting tools, detailed analytics and complex order types.
However, you’ll need to watch out for high trading and withdrawal fees, and be aware that some major cryptos like USDT aren’t supported in Canada.
Best for: Beginners as well as advanced traders searching for a secure trading platform.
Pros
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Trade hundreds of cryptocurrencies
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Established and regulated trading platform
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Highly rated mobile app
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Tools to suit beginners as well as advanced traders
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Robust security features
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24/7 support
Cons
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High trading fees
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Watch out for withdrawal fees
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Some major cryptos not supported in Canada
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No margin or futures trading in Canada
Details
Product details
| Product Name | Kraken |
| Fiat Currencies | CAD, AUD, EUR, GBP, CHF, USD, JPY |
| Cryptocurrencies | BTC, ETH, SOL, USDC, XRP, ADA, SHIB, AVAX, TRX, BCH and 600+ more |
| Deposit Methods |
Credit card Cryptocurrency Debit card Interac e-Transfer Wire transfer Apple Pay Google Pay |
| Trading Fee | Maker (Pro account): 0%-0.25% Taker (Pro account): 0.1%-0.4% |
| Deposit Fees |
Interac e-Transfer: 0.5% Apple Pay/Google Pay: variable Crypto: Free for most cryptos Wire transfers: $0-$3 Canada Post cash/debit: $1.25+0.25% |
| Withdrawal Fees |
Interac e-Transfer: $10 EFT: 0.35% SWIFT: $13 Wire: $0-$35 Crypto: variable |
What is Kraken?
Founded in 2011 and launched in 2013, Kraken is one of the world’s oldest crypto exchanges. This US-based trading platform operates in over 190 countries (including Canada) and caters to new and experienced crypto traders.
Kraken supports over 600 cryptocurrencies, though not all of them are available in Canada. Multiple payment methods are supported, including e-Transfer and debit card, while crypto-to-crypto trading is also available.
Kraken features
Kraken offers the following features to Canadian users.
- Buy hundreds of cryptocurrencies. You can trade hundreds of major and lesser-known cryptocurrencies with Kraken.
- Choice of trading platforms. Kraken offers desktop and mobile apps and a choice of two platforms—a standard platform that’s suitable for beginners, and Kraken Pro which is designed with advanced traders in mind.
- Recurring buys. You can easily set up recurring buy orders to automatically buy crypto on daily, weekly, biweekly or monthly, allowing you to adopt a dollar cost averaging strategy.
- Staking. You can stake 20+ cryptos on Kraken, and choose from flexible staking or the higher rewards of bonded staking. It also offers the Auto Earn feature, which allows you to automatically earn rewards on any eligible cryptos you hold with the platform.
- Kraken Wallet. Kraken also offers its own wallet, which is a self-custody Web3 wallet offered separately to its exchange services.
- Kraken+ subscription. Kraken+ is a US$4.99 membership program that provides access to fee-free trading, exclusive airdrops, priority support and other perks.
- 24/7 support. If you need help with your account, Kraken customer support is available at any time.
What cryptos can I trade on Kraken?
Globally, Kraken supports over 630 cryptocurrencies. This includes a wide range of altcoins as well as many major cryptos, such as:
Popular crypto assets on Kraken
- BTC
- ETH
- SOL
- USDC
- XRP
- ADA
- SHIB
- AVAX
- TRX
- BCH
- 600+ more
Popular assets Kraken does NOT support
- USDT
Kraken fees
Kraken’s fees vary depending on whether you place a basic instant buy/sell order or whether you trade using the Kraken Pro platform.
Instant buy/sell
Instant buy/sell transactions incur a fixed 1% trading fee. However, this fee is waived for Kraken+ subscribers on up to $10,000 of trading per month.
Next, a payment fee may apply depending on the payment method you choose. For example, if you pay by debit card, a $0.25 + 3.75% fee applies. But some payment methods are free, including e-Transfers and wire transfers.
The price you get for instant buy/sell orders also includes a spread. Factors like the crypto you’re buying, market volatility, order size and type, your Kraken VIP status and your account activity all impact the size of the spread.
Finally, withdrawal fees also apply:
- e-Transfer withdrawal fee: $10
- Electronic funds transfer withdrawal fee: 0.35%
- SWIFT transfer withdrawal fee: $13
Kraken Pro
Fees for Kraken Pro are charged based on a maker/taker structure. Maker fees start at 0.23% and taker fees at 0.40%, but lower fees are available for high-volume traders. For example:
- If you have a 30-day trading volume of US$50,000 or more, you get a maker fee of 0.12% and a taker fee of 0.24%.
If you have a 30-day trading volume of US$250,000 or more, you get a maker fee of 0.08% and a taker fee of 0.20%.
The full Kraken Pro fee schedule can be found on Kraken’s website.
Staking fees
You’ll also need to pay fees on your staking rewards as follows:
- Bonded staking: 0-25% commission based on your assets under management.
- Flexible staking and Auto Earn: 30% commission.
Kraken payment methods
Check the table below for full details of the deposit methods supported by Kraken.
| Deposit method | Minimum deposit | Processing time |
|---|---|---|
| Interac e-Transfer | $5 | 0-1 business days or instant |
| Wire transfer | $100 | 1-5 business days |
| Debit card | $10 | Near-instant |
| SWIFT transfer | $4 | 1-5 business days |
| In-person cash or debit at a Canada Post location | $20 | 30-60 minutes |
| Apaylo (Bill Pay) | $1 | 1-5 business days |
How do I withdraw money from Kraken?
There are three ways you can withdraw money from Kraken in Canada.
| Withdrawal method | Minimum withdrawal | Processing time |
|---|---|---|
| e-Transfer | $15 | 0-1 business days or instant |
| Electronic funds transfer | $50 | 2-5 business days |
| SWIFT transfer | $100 | 1-5 business days |
Pros and cons of Kraken
Pros
- User-friendly trading platform. Kraken provides a user-friendly trading platform and app that are easily accessible for beginners, allowing you to sign up quickly and buy crypto with CAD.
- Trade a huge range of cryptos. You can buy and sell hundreds of coins and tokens with Kraken, plus earn staking rewards on over 20 cryptocurrencies.
- 24/7 support. If you ever have a problem with your Kraken account, support is available 24/7.
- Established and regulated platform. Kraken has been around for well over a decade and is regulated in Canada.
- Strong security features. From two-factor authentication to encryption and real-time monitoring, Kraken implements a host of security measures to help ensure the safety of your funds.
- Pro platform for advanced traders. Kraken Pro offers a host of advanced tools that suit experienced traders.
Cons
- High fees. Deposit, withdrawal and trading fees can add up, particularly on instant buy/sell transactions. You could find cheaper fees elsewhere.
- Some major cryptos not supported. Some major cryptos such as Tether (USDT) and Monero (XMR) are not available on Kraken in Canada.
- No margin or futures trading. Kraken does not offer margin or futures trading in Canada.
- Verification time. If you want to upgrade your account to access increased funding limits, the verification process could take up to a few days.
Kraken mobile apps
Kraken offers two main mobile apps for crypto traders.
The first is the Kraken app, which is free to download for Android and iOS devices. The app offers a streamlined user interface and allows you to:
- Buy and sell crypto
- Set up recurring buys
- Monitor your portfolio
- Check crypto prices
- Create custom watchlists
- Access bonded staking and Auto Earn features
The Kraken Pro app is the mobile version of the exchange’s advanced trading platform. It provides advanced features like real-time price updates, advanced order types, multiple charting options and depth charts. Both bonded and flexible staking are available with Kraken Pro.
Is Kraken legal in Canada?
Yes, it’s legal to use Kraken in Canada.
Kraken operates as a registered Restricted Dealer. It is registered with the Ontario Securities Commission and with regulators in all provinces and territories of Canada.
Kraken is featured on the Canadian Securities Administrators’ list of crypto platforms authorized to do business with Canadians, and it is also registered as a Money Services Business with FINTRAC.
Is Kraken safe to use?
Kraken has earned the ISO/IEC 27001:2022 certification for information security management systems and has a host of security features in place.
The platform says it uses a combination of cold storage and hot wallets to store funds, and that its crypto infrastructure is kept in secure cages under constant surveillance by armed guards, alarm systems and video monitors.
Key security features include two-factor authentication with Passkeys, email confirmations when you add a new withdrawal address, data encryption and real-time monitoring for suspicious activity.
Kraken also carries out regular proof-of-reserves reviews. The December 2025 review reported on Kraken’s reserves of Bitcoin (BTC), Ether (ETH), Solana (SOL), USD Coin (USDC), Tether (USDT), and Ripple (XRP).
24/7 support is also provided to help ensure the security of your account.
What do Kraken reviews have to say?
Reviews for Kraken’s apps are largely positive, reflecting the fact that both apps provide a user-friendly platform for trading.
Kraken’s feedback on Trustpilot is a little more mixed. Positive reviews praise the platform’s ease of use, handy trading tools and helpful customer support, but negative reviews mention factors such as poor customer service and slow transactions.
| Site | Details |
|---|---|
| Trustpilot | 3.4/5 stars based on 6,248+ reviews |
| Apple App Store | 4.6/5 stars based on 4,700+ reviews (Kraken) |
| Google Play | 4.3/5 stars based on 49,900+ reviews (Kraken) |
Review data was last verified on 06 April 2026
How to buy crypto on Kraken
When you’re ready to buy crypto on Kraken, here’s what you need to do.
Step 1: Create an account
It’s free to create an account by completing an online application form. You’ll need to provide your email address and country of residence to get started, then provide your personal information and proof of ID to complete the process.
Step 2: Deposit funds
Choose your payment method for your transaction. Remember to check the processing times and fees for different methods before choosing one.
Step 3: Buy crypto
Choose the crypto you want to buy and how much CAD you want to spend. Remember to review the details of your transaction including any fees before confirming your purchase.
Alternatives to Kraken
Not sure if Kraken is right for you? Compare Kraken with other crypto exchanges in Canada in the table below:
Finder Score for crypto exchanges
To make comparing even easier we came up with the Finder Score. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. The higher the score, the better the exchange—simple.
Bottom line
Kraken is a popular and reputable crypto exchange. It may not be the cheapest, but it does offer a great user experience, plenty of CAD deposit and withdrawal options, and features to suit beginners as well as much more experienced traders. No matter whether you’re making your first foray into the world of crypto or if you’re an old hand, Kraken is well worth checking out.
Frequently asked questions
Sources
Your reviews
Tim Finder
Writer
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