Kraken review and test – How good is the cryptocurrency exchange?

REVIEW:
REGULATION:
MIN. DEPOSIT:
Assets available:
Fees:
4.6 out of 5 stars (4.6 / 5)
Kraken is registered with FinCEN as a Money Services Business. (‘Payward Ventures, Inc.’, MSB Registration No. 31000227422814)
From $1, depending on country of residence
219+
Random transaction fees range from 0% to 0.26% of transaction value, booth transaction fees range from 0.2% to 0%, fees for dark puddles range from 0.2% to 0.36%.
The official logo of Kraken

Kraken is an American veteran cryptocurrency exchange offering a leading trading platform with margin trading and OTC options. The site, which previously despised the instability of the platform, has since updated its services with a focus on security and customer support. Kraken also offers very competitive transaction fees. This is one of the largest cryptocurrency exchanges. Kraken claims to be the largest Bitcoin exchange in terms of volume and liquidity in the euro. Kraken has established connections with banks in Germany and Japan. It was also the first cryptocurrency exchange listed at Bloomberg headquarters (a tool used by bankers around the world). In this Kraken exchange review, we will tell you everything you need to know about this exchange.

The official website of Kraken
The official website of Kraken

Trade more than 100 different cryptocurrencies CFDs on professional platforms:

(Risk warning: 75% of retail CFD accounts lose money)

What is Kraken? – Company Overview:

Kraken.com offers
Kraken.com offers

Kraken is a cryptocurrency exchange listed by Jesse Powell in 2011 that also offers futures contracts and margin trading. Kraken is a cryptocurrency exchange that allows users to trade fiat and cryptocurrencies. It is an experienced cryptocurrency exchange in the United States that offers advanced trading platforms with edge trading and OTC options. Kraken is based in the United States and only provides about 20 coins to trade because it has to comply with U.S. rules. This is compared to over a hundred on Binance.

Kraken is known for its low transaction fees, rich features, and overall security. After the bankruptcy of the old bitcoin exchange, Mt. Gox, the Kraken platform, helped to process the application. Kraken operates in the United States (except New York due to BitLicense) and Canada, the European Union, and Japan. The exchange started in 2013 and has since raised over $100 million, and the final round ended in February 2019.

You can open a Kraken account on Kraken and trade digital assets without going through KYC or AML. However, the withdrawal limits for these accounts are low, and fiat currency (ego) cannot be deposited or withdrawn without a KYC-verified account. Anyone wishing to purchase a futures contract must also pass the KYC check. Kraken offers high liquidity, industry-leading security measures, and 24/7 real-time customer support. Kraken has a full reserve of customer funds. Kraken uses independent and encrypted verified reviews to certify to third parties and exchange them to clients that funds have been properly stored.

Here is a quick overview of Interactive Brokers:

 Rating: 
(4.6 / 5)
⚖️ Regulation:
FinCEN
🏛 Founded:
2011
💻 Trading platforms: 
Web platform, mobile applications
💰 Minimum deposit:
From $1
💸 Withdrawal limit: 
No limit
⌨️ Demo account: 
You can try out the futures exchange without using real money on Kraken, this demo account is free and unlimited.
🕌 Islamic account:
Not available
📊 Assets:
219+ cryptocurrencies
💳 Payment methods:
Depending on country. Common payment methods include Visa, Mastercard, Apple Pay, Google Pay
📞 Support:
24/7/365 via chat, phone support, and ticket
🌎 Languages:
English, Spanish, Italian, Chinese, Portuguese, French

Is Kraken regulated and secure? Overview of the security of Kraken

The official logo of the FINCEN

Kraken is registered with FinCEN as a Money Services Business. (‘Payward Ventures, Inc.’, MSB Registration No. 31000227422814). It is also a highly safe platform, offering its users secure transactions and multiple layers of security. Unlike many CFD and other exchanges, Kraken Futures will never allow you to have a negative balance on your account. This is due to their Equity Protection Process (EPP), which atomically manages risk across all positions on the platform, ensuring that the market continues to operate as one.

Security of Kraken

Kraken has never been hacked, making it one of the safest stock exchanges on the market. Some of the founders of Kraken are Mt. The defeat of Gox. A series of steps have been taken to prevent Kraken from receiving such exploits due to this hack.

For example, Kraken claims:

95% of all reserves are stored in independent, closed, and geographically dispersed cold storage. We have a full reserve, so you can withdraw cash at any time upon request.

It also provides consumers with a variety of security features. Kraken supports 2FA (two-factor authentication) via Google Authenticator or YubiKey. You can also check withdrawals by email, so you can prevent illegal withdrawals even if your phone number is compromised. o, Ensure the security of all these systems. Kraken has its own security team, and if a third party discovers abuse, they are also compensated for errors. Overall, the Kraken Stock Exchange is one of the safest places to trade, and its long security record has proven to be reliable.

Kraken offers rare transparency in the opaque crypto industry and ensures that Kraken traders can withdraw any coins at any time. Kraken accounts too.

How safe is Kraken?

It has never been hacked before, and this is because it is committed to maintaining a very high level of security. It is a secure exchange and among the most significant digital coin exchanges in the United States in terms of volume, and many believe that volume reports are accurate. Kraken is one of the most unspoiled exchanges, with more than 99% of current algorithms.

The chart above represents Kraken and other high-performance digital exchanges in terms of real volume changes. This means that the reported transaction volume is more than 99% accurate. This is in contrast to other exchanges with low reputations that trade vaguely and report fraudulent volumes.

Does Kraken operate with FDIC insurance?

Kraken doesn’t operate with FDIC insurance. This is because it is a digital currency exchange that normally doesn’t have the qualification to be granted a deposit insurance policy as they aren’t banking institutions. The absence of insurance is common on crypto exchanges, and it is very rare to see a digital currency exchange that offers FDIC insurance.

Digital currency exchanges do not qualify for FDIC insurance

Although it is not operating with regular insurance, Kraken now has over 100 million USD in the company’s insurance fund in case of future risks. This is close to the way other crypto exchanges function. Binance, for instance, has vowed to compensate any damages incurred due to the 40 million USD hack.

Probably, the most well-known instance of an insurance fund is Bittrex. They have several hundred dollars in bitcoin in their insurance fund. Its purpose is mainly to cope with any loss the company incurs.

See all the details about the security of Kraken here:

SSL:
Yes
Data protection:
Yes
2-factor authentication:
Yes
Regulated payment methods:
Yes, available
Negative balance protection:
Yes

Currency and payment method

Kraken allows consumers to trade fiat currencies such as:

The amount spent in each of these currencies is called the volume of transactions. Kraken has the largest euro trading volume among other stock exchanges. The exchange currently offers 40 different cryptocurrencies. The more popular the cryptocurrency, the more trading pairs there are.

Deposits can be deposited and withdrawn via SEPA, SWIFT, bank transfer, and internal transfer. In almost all cases, deposits and withdrawals can take 1 to 5 business days. In my experience, the average deposit takes only 24 hours. Most of the accepted cryptocurrency deposits are free, but in some cases, they add a small amount of installation cost. When it comes to statutory deposits, SEPA deposits are free, which is especially convenient if Kraken is in the European Union. Your location is on the SEPA list of countries. Bank transfers in the U.S. range between $5 and $25 but are generally less than $10 outside the U.S.

Kraken vs. other crypto exchanges

Advantages of Kraken
Advantages of Kraken

Luno

  • Suitable for Nigeria, South Africa, Indonesia, and Malaysia.
  • East to use the interface
  • Stable exchange

Coinmama

  • Works in almost any country
  • Maximum limit on bitcoin purchases by credit card
  • Trusted and trusted broker

Kraken

  • Excellent liquidity and low fees
  • Most countries supported
  • A trust exchange was launched in 2011.

Kraken vs. Coinbase

When comparing Kraken to another major U.S. stock exchange, Coinbase or, more specifically, Coinbase Pro, many things have been found in common. Both exchanges have similar allocation structures and available services (OTC, margin trading, account management). However, Coinbase supports fewer cryptocurrencies. The main difference is probably in terms of support. Kraken appears to be much more focused on support than Coinbase. In general, if the desired coin is listed on both exchanges, there seems to be little difference between the two exchanges.

Kraken and Coinbase are natural competitors as they are U.S.-regulated exchanges with excellent security registers. Kraken and Coinbase have been around for many years and offer the same trading pairs. At the same time, Kraken has a wider range of features. They have more altcoins available for trading and offer revenue and futures contracts, but Coinbase is just a change of location.

The advantage of Coinbase is that it has more volume than Kraken, and it also has Bitlicense, which allows it to receive customers in New York State. Kraken generally has a better reputation than Coinbase as it turns out that Coinbase intends to sell data to the IRS and Drug Enforcement Administration.

Trade more than 100 different cryptocurrencies CFDs on professional platforms:

(Risk warning: 75% of retail CFD accounts lose money)

Kraken vs. Gemini

Gemini-App
Gemini app

The biggest advantage of Kraken over Gemini is the number of coins it can trade. Gemini only supports 5 coins compared to the 20+ coins supported by Kraken. Also, Gemini does not offer profit or futures contracts. The final drawback of using Gemini is the structure of transaction fees is much higher than Kraken’s.

As an exchange, Gemini primarily serves institutional traders. Reduce fees for transactions made through API connections. One of the reasons the transaction fees are high from the start is that Gemini is fully insured and collects certifications and licenses.

So, Gemini is a great alternative for professional traders and investors looking to pay more for the most valuable exchanges. However, for most retailers, Kraken, with a lower fee, is more suitable.

Kraken and Gemini are American stock exchanges founded primarily by celebrities.

Gemini has significantly higher fees on Gemini than Kraken, and few people believe that Gemini runs banks with some customer reserves, but Gemini has never tested reserves.

Gemini is known for providing the best customer support because it attracts more valuable customers than Kraken normally attracts.

The Gemini trading interface is easy to use but has fewer features than Kraken, so it all depends on whether you are a beginner or an experienced trader when choosing someone with the best user experience.

Binance vs. Kraken

Binance is a much larger exchange with higher liquidity and more coins to choose from. Some people think that the smaller the coin, the better, but that’s because it’s less likely to get hacked.

Kraken also outperforms Binance in terms of reliability. Kraken is the only stock exchange with 100% reserves, so you can be confident that you can withdraw your coins whenever you want. Binance has never tested its reserves, so it is impossible to know if they have all its consumer deposits at any given time.

Kraken has also historically been a supporter of Bitcoin, unlike Binance. Binance is known for its responsive customer support, but Kraken is a bit hesitant here because of its long response times in chats and emails. Fees are very low, and no one can ask for a lower fee because the fee depends on the liquidity of the stock exchange when trading with the market.

Binance and Kraken offer OTC trading, futures, and full dark service (order book that you can view before placing an order).

Coinbase Pro vs Kraken

Trade with Coinbase Pro
Trade with Coinbase Pro

Kraken and Coinbase Pro offer highly developed trading capabilities to experienced traders.

However, Kraken has a better user interface than Coinbase Pro. Kraken also tested reserves, unlike Coinbase Pro, which, like Kraken, refused to review backups. Coinbase Pro also doesn’t support credit card purchases, but Kraken does.

Regarding fees, if you’re a marketer, Kraken is your best bet. However, if you are a liquidity provider, Coinbase Pro is your best bet.

Kraken vs. Bitstamp

Bitstamp is a European exchange that is different from the oldest cryptocurrency exchanges in existence. This certainly speaks of their security and good business sense, but that doesn’t mean Bitstamp offers so many benefits. In fact, like Gemini, there are only a few coins available for trading compared to Kraken’s broader set of trading pairs.

Kraken and Bitstamp generally have more trading volumes, but they do have the same trading volume. Bitstamp transaction fees are higher than 0.5% Krakens for both producers and recipients. One of the advantages of using Bitstamp is that it has the lowest trading volume. Bitstamp’s minimum trading amount is 0.001 BTC (equivalent to about $8.50 at the time of issue).

Kraken, on the other hand, has a different minimum amount for each coin but often exceeds $10 per transaction. This makes Bitstamp the best option for those who want to make small crafts.

One of the best advantages of using Bitstamp over Kraken is that Bitstamp has a popular Android mobile app. The app offers everything the web platform does, from deposits to trading, making it easy to trade cryptocurrencies when you don’t have a computer.

At one time, Kraken had an iOS app, but it stopped. Kraken doesn’t talk about future releases of the app, so it makes us believe that Bitstamp is the best option for anyone who needs constant access to the trading platform.

Trade more than 100 different cryptocurrencies CFDs on professional platforms:

(Risk warning: 75% of retail CFD accounts lose money)

What is Kraken best for Day trading or buying crypto?

Kraken, trading chart
Kraken.com, the trading chart

With regulatory compliance and US headquarters, Kraken is an excellent alternative for professional traders and institutional investors. Kraken is also attractive to more sophisticated traders because it offers advanced features like margins and futures.

Kraken’s trading fees are slightly lower than average and start to decline sharply as traders start earning more than $50,000 per month. All in all, Kraken is a great platform for U.S. traders or organizations looking to achieve full compliance while maintaining hundreds of transactions per month.

Countries served by Kraken

Kraken is available to all Americans except New York and Washington residents. For overseas customers, there are restrictions for each country. Kraken is not available to citizens of Afghanistan, Cuba, Iran, Iraq, Japan, North Korea, and Tajikistan countries. Kraken does not own the famous NYC Bitlicense, so it cannot serve NYC customers. Interestingly, Japanese traders cannot use Kraken because the digital asset sector is thriving and has lucrative rules to support it. However, Kraken is very liberal in its policy towards overseas customers, and most citizens of the world can use it.

Kraken service

Kraken offers its clients an advanced trading platform that includes random trading and margin trading for more experienced consumers. The Kraken interface provides many options, but it’s not the most beginner-friendly, so it’s worth considering if you’re new to cryptocurrency. For bulk transactions (over $100,000), Kraken offers one-on-one OTC transactions. Additionally, high-volume traders can often have dedicated account managers to take care of their trading needs.

Kraken also offers a dark pool, an order book not found in the rest of the market. Each trader knows only his own order. Traders can place bulk buy or sell orders anonymously without disclosing their interests to other traders. For other traders, orders that are too large usually impair market movement, making it difficult to execute orders at the desired price. These damaging price fluctuations can be avoided in dark pools. Finally, Kraken also offers betting services that allow consumers to monetize the assets they hold and use.

How to start trading on Kraken

How to open your Kraken account

Registration

Visit the Kraken website and click Register. Create a username and password. Do not use PASSWORD1234 as your password! You are better than this! Please enter your email address. Click Register.

You will receive an email from Kraken with an activation code. Enter your code, username, and password. Click “Activate Account.”

You have successfully registered for a Kraken account!

Confirmation (Verification)

Kraken has 5 levels of certification (or level) (0-4). Verification means you have to prove that you are yourself. The tests you need are different types of personal information.

The first three steps don’t require a lot of testing, but the last two steps require a lot of testing. Level 0 allows you to look around. A minimum level 1 certification is required to shop. This Kraken review explains how to check in levels 1 and 2. Click “OK” on the account screen.

You will need to enter your name, date of birth, country, and phone number for level 1 verification.

Click “Get verified,” and you’re done!

Level 1 users can only insert (enter) or remove (remove) cryptocurrencies. There is also a $2,500 cap on the amount of cryptocurrency you can withdraw daily. Level 1 is not very fun! It is advisable to pass the test at least at level 2. Click on “Level 2” to do it. You must provide proof of address. You need to enter the following information:

Now click “Get Verified.”

This is where most users stop the authentication process. At level 2, you can deposit and withdraw fiat currencies. Deposits and withdrawals of fiat currency are limited to $2,000 per day.

Cryptocurrency withdrawals are limited to $5,000 per day. There are no restrictions on depositing cryptocurrency. Verification of levels 1 and 2 takes only a few minutes. Levels 3 and 4 can take several days to validate. Levels 3 and 4 have higher deposit and withdrawal limits.

If you live in the United States, Canada, Germany, or Japan, you will need a Level 3 check to deposit and withdraw fiat currency. You will need a government-issued identification card and proof of your current residence address, such as a gas bill. Level 4 is used by large companies and traders.

Be careful before making your first deal! Set up two-factor authentication.

Get 2-Step Verification. On the account screen, go to Security, click on 2-Step Verification, then click on Settings. As I said earlier, you can create a second password with Google Authenticator or Yubikey. It is recommended to use it on all exchanges that offer two-factor authentication. Okay, everything is boring. Let’s go trading!

Start trading

Make a deposit by going to the “Finance” section of your account screen. You can fund your account by making a bank transfer in fiat currency. Sometimes a fee is charged depending on the fiat currency you use and where you live.

For instance, if you live in the EEA, Euro deposits are free. Depositing in US dollars from the United States costs $5. Now all you have to do is select the cryptocurrency to start trading. Click the Transactions tab, then click New Order.

There are three trading options: Easy, Instant, and Advanced. If you are a beginner, always choose easy. Kraken offers all kinds of deals and can be very difficult. Using the platform will allow you to explore even more possibilities.

Now choose the currency you want to buy and the currency you have to pay. You can purchase currencies with limited or market orders. Market ordering is quicker and easier than limited ordering. A limit order is to buy currency at a fixed price. A market order is to buy a currency at the best possible price. Now press the green BUY C button, and you can do it! You are now a cryptocurrency trader.

A brief note on storage

It is important to use only the stock exchange for trading. Do not use exchanges for long-term storage of cryptocurrency. Storing cryptocurrency online or in a hot wallet is not a good idea; store most crypto coins offline or in cold storage.

At least one hardware wallet is required for this. A hardware wallet is like a very secure USB stick. It contains all the codes you need to access cryptocurrency. Kraken works very hard to protect your money when you’re on the platform, but remember, that’s your security!

If you make a lot of money by trading cryptocurrencies on Kraken, you can withdraw them in fiat currency. To do this, you have to pay the Kraken fee.

Kraken withdrawal fee

Kraken’s withdrawal fees vary greatly depending on where you are. For example, it would cost $5 to withdraw USD and get a U.S. bank account. Isn’t it bad? If you don’t have a U.S. bank account, it will cost you $60. Isn’t it good? Kraken’s fees for cryptocurrency withdrawals are much lower. For example, Kraken charges 0.0005 BTC to withdraw bitcoins and 0.005 ETH to withdraw ether.

Customer service

Customer service

The Kraken website has a detailed help guide covering everything from account verification to trading. In most cases, you can find what you are looking for. However, if you really need assistance, you can always send a help ticket or chat with a representative in real-time via the chat built into the website. The general consensus for the Internet is that low cost, advanced features, and robust security are Kraken’s main strengths. Kraken really has an advantage, but it does take a fair part of criticism and doesn’t work well with Trustpilot. Overall, the platform support and stability seem to have improved since the website was updated some time ago.

Fees

Kraken’s fees are the lowest among all major bitcoin exchanges. The fees you pay depend on the volume of your trades in the last 30 days. Fees are usually calculated by the manufacturer’s buyer. Manufacturers who add limited orders to the stock exchange pay a lower commission than recipients who run existing orders. Random transaction fees vary from 0.26% to 0%. Booth transaction fees range from 0.2% to 0%. Charges for dark puddles range from 0.36% to 0.2%.

Kraken’s transaction fees are sensible, particularly because the fee of Coinbase Pro has gone up significantly. Kraken traders whose transactions are under 50,000 USD per month can look forward to a 0.16% commission fee and a 0.26% taker charge. Incremental discounts are to increase your trading volume and reach a maximum of $10,000 per month. After that, the trader only pays 0.10% of the taker’s commission, as well as the maker’s commission.

Kraken trade fee structure

Kraken withdrawal charges are common on most exchanges. The withdrawal charge for bitcoin is 0.0005, Ethereum withdrawal charge for Dash is 0.005. The rest crypto coins are much cheaper: the XRP withdrawal charge is only 0.02, Stellar Lumens charge is 0.00002, withdrawal charge for Monero is 0.0001 XMR. Other coins are quite costly: Tether’s withdrawal charge is 5.0 USDT, and the EOS charge for withdrawal is 0.05 EOS.

Deposit option

As expected, you can make cryptocurrency payments with coins supported by Kraken. Kraken allows unlimited cryptocurrency payments that only allow limited withdrawals, even for traders who have not passed KYC verification.

Kraken supports fiat currency deposits, but traders must pass KYC verification before depositing in fiat currency. Kraken supports USD, GBP, EUR, JPY, and CAD.

Trade more than 100 different cryptocurrencies CFDs on professional platforms:

(Risk warning: 75% of retail CFD accounts lose money)

Variety of Kraken financing options

The company regrettably doesn’t accept credit card payments. Deposits on Kraken Deposit can only be made by bank or bank transfer. Technological tools include SEPA (for Individuals within the European Union), FedWire (for US citizens), and SWIFT (for all countries around the world). Kraken accepts debit and cash deposits from Canada in Canadian dollars, but again not credit card deposits. To withdraw USD, Kraken charges a fee of $5. Kraken somehow doesn’t presently offer investors interest on deposits. Kraken now doesn’t quite allow ACH deposits, only transfers. They also do not consider Skrill deposits.

Kraken’s biggest feature

Support

One of Kraken’s greatest features is its support for margin trading. U.S. customers are advised to have a platform that allows them to take leveraged positions as they cannot legally use derivatives trading platforms like BitMEX or Bitfinex. Unfortunately, New York merchants cannot use Kraken.

Setting up Kraken leverage for trading

Kraken’s relatively low transaction fees are also a good feature. Coinbase Pro recently increased producer and payee fees to 0.5%, and Gemini fees have reached 1%. This makes Kraken one of the cheapest cryptocurrency exchanges in the United States.

In the past, cryptocurrency exchanges faced a problem because they didn’t have enough money to pay for all their deposits. For example, QuadrigaCX was considered bankrupt prior to massive hacking. If all users ask for the return of bitcoin, the exchange cannot donate it.

Kraken Pros

Kraken Pro account

Fiat currency trading

Kraken can trade 6 different fiat currencies. This means you don’t need to visit other exchanges before you start trading. Stock exchanges like Bittrex only accept cryptocurrency trading.

Safety

So is Kraken safe? Jesse Powell and Kraken’s team joined Mt. Gox hack. Crack has never been hacked. Save most of your calls offline. It also provides consumers with two-factor authentication for their accounts.

Trading Charges

Kraken’s fees are the lowest on the market. The trade commission ranges from 0% to 0.26%. The amount you are charged for each transaction depends on whether you are buying or selling. Buyers usually pay 0.16%, and sellers typically pay 0.26% for each transaction. Kraken’s fees are also based on 30-day trading volume and currency pair trading.

Crypto selection

Kraken offers a variety of cryptocurrencies for trading. Some exchanges only offer the most popular coins. However, more recommended exchanges like Binance can offer more than 150 cryptocurrencies to choose from.

Reputation

Kraken has worked hard to earn respect from around the world. It was one of the first digital money exchanges to prove that it could keep all of its clients’ money safe. Kraken did this through inventory checks.

Support

Kraken has very useful information on its website. Beginners on the site can go to Help and then Support to get a lot of helpful tips. Many other platforms don’t have this option.

Mobile app

Kraken has a trading app that you can use on the go. It has an intuitive interface and is very easy to use. You can also take advantage of great trading features.

Cons of Kraken

Reliability

In 2017, Kraken experienced several problems. The cryptocurrency exchange cannot handle the number of subscribers. The company also had to face multiple cyber-attacks. Because of these issues, Kraken had to close for about a week in January 2018! But after that, it returned with more protection.

Customer Support

Many exchange platforms have poor customer support, and Kraken is one of them. But the company seems to be doing everything to improve it.

What we like:

  • Safe and reliable
  • Low charges
  • A reliable bitcoin exchange that has existed since 2011
  • Support for many countries
  • Large amounts of fiat currency are allowed

What we found not so good:

  • Not the most helpful support team
  • It is not confidential as it requires identification.
  • The user interface complicates the task of new buyers.

See all details about their customer support here:

Supported languages:
More than 6
Live-Chat
24/7/365
Email:
You can send them a mail via ticket support
Phone support:
Available 24/7

From the United States:
English Support: +1 888 837 8818
Spanish Support: +1 888 874 5280
French Support: +1 888 874 3480

From the United Kingdom:
English Support: +44 808 501 5031
Spanish Support: +44 808 175 3474
French Support: +44 808 175 3125

From the European Union:
English Support: +353 1 223 8162
Spanish Support: +353 1 230 8320
French Support: +353 1 230 8558

Trade more than 100 different cryptocurrencies CFDs on professional platforms:

(Risk warning: 75% of retail CFD accounts lose money)

Conclusion – Start trading with this trading platform!

Kraken is a viable option due to its excellent security features and low transaction fees. However, as the interface is more complex, it is not the best choice for beginners. This old-timer bitcoin exchange has built a reputation over the years, and it is unlikely that it will go anywhere soon. Have you tried Kraken yourself? We’d love to hear about your experience in the comments section below.

Kraken Review

Overview and test of Kraken

Trusted Broker Reviews

The official logo of Kraken
Regulation
Platform
Trading offers
Customer support
Deposit
Withdrawal

Summary

Kraken is a good broker that offers something not only for crypto enthusiasts but also for hobby traders. Here you have everything you need for good crypto trading.

4.6

The high degree of specialization in cryptocurrencies and the innovative trading platform, as well as the smooth deposits and withdrawals, give kraken a very good rating of 4.6 out of 5 stars. 4.6 out of 5 stars (4.6 / 5)

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Trusted Broker Reviews

Experienced and professional traders since 2013

FAQ – The most asked questions about Kraken:

Can we trust Kraken?

Kraken is one of the few cryptocurrency trading websites that has never experienced a hack. So, you can rely on Kraken to safely start your crypto exchange. However, always move your exchanges to an off-site wallet as soon as possible to avoid any money-losing risk. Nevertheless, Kraken provides good security (Masterkey) to its users. 

What is Kraken known for?

Kraken is known for its unique feature of providing a rich trading platform for single cryptocurrency traders as well as also for large trading firms. Moreover, with its varied account types, it also covers the need of all types of investors and traders. 

Where is the Headquarters of Kraken located?

Kraken is a San Francisco, California-based country founded in 2011 and is one of the oldest crypto exchange platforms. The most trusted cryptocurrency exchange platforms are Coinbase and Kraken. 

Which is better Kraken or Coinbase? 

Even though both coin base and Kraken are best at their place and are the top crypto exchange platforms on the internet, Kraken is considered better by many traders. The reason is the fees charged by Kraken. It also has a variety of coins for staking at higher rates than Coinbase. Staking is binding up the cryptocurrencies for a given time to earn rewards. In terms of staking, Kraken is ahead of Coinbase and provides higher interest rates

Last Updated on February 27, 2023 by Arkady Müller