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Kraken cryptocurrency exchange review

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Trade a wide range of cryptocurrencies on this prominent, feature-filled exchange

  • Great for its wide range of features
  • Not so great for its varying trading fees

Check out our full list of pros and cons or read on.

7

Fiat currencies

34

Cryptocurrencies

Details

Product Name Kraken Cryptocurrency Exchange
Fiat Currencies USD, EUR, GBP, JPY, CAD, CHF, AUD
Cryptocurrencies BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, DASH, USDT & 20+ more
Deposit Methods Electronic Funds Transfer
Wire transfer
Osko
PayID
Ethana Custody
Bank transfer (SEPA and AUD)

Trading Fee Maker: 0.00-0.16%
Taker: 0.10-0.26%
Deposit Fees Fees vary
Withdrawal Fees Fees vary
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: USD, EUR, GBP, JPY, CAD, CHF, AUD
  • Supported cryptocurrencies: Approximately 34 cryptocurrencies

Which payment methods are accepted?

  • Electronic Funds Transfer
  • Wire transfer
  • Osko
  • PayID
  • Ethana Custody
  • Bank transfer (SEPA and AUD)
Go to Kraken's website

Fees and limits

Platform trading fees

Kraken’s comprehensive trading fee structure varies depending on trade volume, and what kind of trade it is. Fees vary for stablecoins, dark pool trades and margin trading, so it’s worth checking Kraken’s site for the latest break down.

The fees below are accurate as of August 7, 2019.

Trading fees

30-day volume (30-day USDT)Maker feeTaker fee
$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%
$10,000,000+0.00%0.10%

Stablecoin trading fees

30-day volumeMaker feeTaker fee
$0 – $50,0000.20%0.20%
$50,001 – $100,0000.16%0.16%
$100,001 – $250,0000.12%0.12%
$250,001 – $500,0000.08%0.08%
$500,001 – $1,000,0000.04%0.04%
$1,000,000+0.00%0.00%

Dark pool trading fees

30-day volumeMaker feeTaker fee
$0 – $50,0000.36%0.36%
$50,001 – $100,0000.34%0.34%
$100,001 – $250,0000.32%0.32%
$250,001 – $500,0000.30%0.30%
$500,001 – $1,000,0000.28%0.28%
$1,000,001 – $2,500,0000.26%0.26%
$2,500,001 – $5,000,0000.24%0.24%
$5,000,001 – $10,000,0000.22%0.22%
$10,000,000+0.20%0.20%

Margin trading fees

  • Make sure you fully understand the risks before margin trading.

Margin trading may result in the loss of your entire account balance. Cryptocurrency is volatile and rapid price drops can liquidate your account. If you want to margin trade, please ensure you fully understand the risks involved, take care to manage your exposure and consider setting profit targets and stop-loss limits to better manage the risks.

Base currencyQuote currencyOpening feeRollover fee
XBT (Bitcoin)EUR, USD0.01%0.01% per 4 hours
USDT (Tether)USD0.01%0.01% per 4 hours
BCH (Bitcoin Cash)EUR, USD, XBT0.02%0.02% per 4 hours
ETH (Ethereum)EUR, USD, XBT0.02%0.02% per 4 hours
ETC (Ethereum Classic)EUR, USD, ETH, XBT0.02%0.02% per 4 hours
REP (Augur)EUR, ETH, XBT0.02%0.02% per 4 hours
XMR (Monero)EUR, USD, XBT0.02%0.02% per 4 hours
XRP (Ripple)EUR, USD, XBT0.02%0.02% per 4 hours

Deposits and withdrawals

You can deposit cryptocurrencies with standard network fees, while the deposit options and fees will vary depending on whether you’re depositing USD, EUR, CAD, GBP or JPY, and whether you’re making a deposit or withdrawal.

Deposits

Etana Custody and Silvergate Exchange Network deposits

Etana Custody and Silvergate Exchange Network are two different deposit options that Kraken offers. To use these deposit methods, you will first have to create an account with Etana Custody or Silvergate Bank.

Etana Custody is a funding and custody service that provides additional benefits, such as worldwide availability and instant transfer options, where needed, while Silvergate Bank is a platform which offers access to the Silvergate Exchange Network for fast international transfers.

Etana lets you deposit a wide range of currencies, while Silvergate Exchange Network is for USD only.

How fast will my funds be available?

Deposits

Clock icon for transfer speed

Instant – 5 days

Instant or near-instant deposits are available through Etana Custody, CAD payment options or cryptocurrency deposits.

Most other options will take 1 to 5 business days.

Withdrawals

Clock icon for transfer speed

Varies

Instant or near-instant withdrawals are available through Etana Custody, CAD payment options or cryptocurrency deposits.

Most other options will take 1 to 5 business days.

Is Kraken safe to use?

  • Regulation. Kraken is based in Canada and has registered as a money services business in the US under the name of its parent company Payward Inc.
  • Verification process. Kraken requires all users to provide information about themselves, but document verification is only required for fiat currency transfers or trading. No document verification is required for cryptocurrency transfers or trading.
  • Security features. Kraken follows industry best security practices such as keeping 95% of user funds in cold storage and encouraging two-factor authentication. It runs a bug bounty program and says its servers are kept in secure cages, under armed guards and constant surveillance.

Kraken was founded in 2011 and launched in 2013. While individual users have had their accounts compromised over the years, typically after failing to enable two-factor authentication, Kraken is never known to have been the victim of a major heist, and two-factor authentication is now mandatory.

Regardless, Kraken CEO Jesse Powell advises people not to store cryptocurrency on Kraken, or any other cryptocurrency exchange.

It was the world’s first exchange to produce cryptographic proof of its reserves, and you can still verify that Kraken is fully backed as of its most recent audit. You can verify that your cryptocurrency was included in the latest audit once logged into your Kraken account.

How do I create an account at Kraken?

Go to Kraken's website

What else do I need to know about Kraken?

Kraken was founded in 2011, after the Mt. Gox incident. It was conceived with the specific intention of being the professional, secure and high-quality Bitcoin exchange the nascent industry desperately needed at the time.

It was launched in 2013 and has been one of the world’s most prominent cryptocurrency exchanges ever since.

In a nutshell

Pros

  • Wide fiat and crypto range. With USD, EUR, GBP, CAD and JPY pairs, plus a wide range of cryptocurrencies, Kraken is among the world’s most versatile exchanges.
  • Feature-filled. Kraken offers margin trading, futures, an OTC desk, dark pools and additional tools such as indices and its own Cryptowatch.
  • 24/7/365 customer service. Kraken offers customer service every hour of every day of the year, as well as account management services for advanced traders.
  • Since 2013. Kraken is one of the world’s largest exchanges by trading volume and many regard it as one of the most legitimate.

Cons

  • Varying fees. You need to be aware of the fees, because they can vary by trade type. Basic trading fees range from 0% to 0.26%, while dark pool, stablecoin trading or margin trading have different fee structures.

Compare Kraken against other exchanges

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Credit card
Debit card
Bank transfer (SEPA)
SWIFT
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Crypto.com App
Bank transfer (ACH)
PayPal
Bank transfer (SEPA)
SWIFT
Xfers
Credit or Debit Card
TransferWise

AUD, EUR, SGD, HKD, GBP, JPY

64
cryptocurrencies

Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Bank transfer (ACH)
Bank transfer
Cryptocurrency
Debit card
Wire transfer
USD

29
cryptocurrencies

Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
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Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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6 Comments

  1. Default Gravatar
    John
    November 15, 2018

    Is it true that EPC, the European Property Coin, will be launched at Kraken on 23rd November? What is the registration fee for my holding of EPC?

    • Avatarfinder Customer Care
      Jhez
      November 16, 2018

      Hi John,

      Thank you for your comment.

      Upon checking, there has been no official statement as to having EPC in Kraken. You may continue to check back on updates.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  2. Default Gravatar
    Trading
    February 10, 2018

    I have been waiting to deposit money to start trading but it will not allow me to do so until I have been verified. I have been waiting for almost a month so please let me get in so I can start trading, I see the coin going up to all time highs and lows and want to be apart of it. How long will it take to be verified? Please.

    Sincerely,

    Troubled man.

    • Avatarfinder Customer Care
      Ron
      February 14, 2018

      Hello,

      Good day! Appreciate you contacting finder for your inquiry today.

      Please note that you have reached finder and we do not represent Kraken. An email was sent separately about an article from the Kraken website which you can refer to on how long it takes for an account to get verified. You may find it useful in regards to your situation.

      It seems that they have no phone support at the moment which you can call to directly follow up on the status of your account verification. As adviced on the support page sent to you, closely monitor the email associated on the account setup as Kraken will communicate with you through it for any additional details they may need for verification.

      Hope this helps!

      All the best,

      Ron

  3. Default Gravatar
    Paul
    January 25, 2018

    I signed up this AM, but am unsure if I fully completed my sign on.
    I then tried to sign on again with another ID, but you sent me a message that I was already signed on. Please tell me if there is anything else I need to do .

    • Default Gravatar
      joelmarcelo
      January 26, 2018

      Hi Paul,

      Thanks for leaving a question on finder. Please note that we are a comparison website and we do not represent any of the providers on our page. I have sent the contact details for Kraken to your email so you can directly follow up with them. If you need anything else, please send me a message.

      Cheers,
      Joel

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