Kraken Review
- Fiat currencies
- 6
- Supported assets
- 277
Our verdict
Explore Kraken's tools, fees and crypto offerings to see if it fits your trading needs.
Kraken offers a wide variety of tradable assets, a dedicated trading platform, as well as robust security features. Its intuitive interface and advanced tools cater to both tech-savvy beginners and seasoned traders, making it versatile for different experience levels. However, Kraken does not support staking in the US — and users from some states cannot use the platform at all. It also supports a relatively small number of fiat currencies.
Pros
-
More than 270 cryptocurrencies available to trade
-
Strong security with a nearly spotless track record
-
Free trading platform
Cons
-
No crypto staking available for US customers
-
Restrictions in several states
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Common issues with customer support
Details
Product details
| Product Name | Kraken Cryptocurrency Exchange |
| Fiat Currencies | USD, EUR, CAD, AUD, GBP, CHF, JPY |
| Cryptocurrencies | BTC, ETH, BCH, EOS, LTC, ADA, XLM, DASH, XMR, USDT, XRP & 266 more |
| Deposit Methods |
Bank transfer Credit card Cryptocurrency Debit card SEPA Instant SEPA Apple Pay Google Pay SWIFT ACH online banking |
| Trading Fee |
Trading: Maker: 0.25% - 0.00% Taker: 0.40% - 0.00% Spread: Variable spread included in the price, calculated before orders are executed |
| Deposit Fees |
ACH deposit - Fees vary ($10 minimum deposit) Credit and debit card - Fees vary ($10 minimum deposit) Apple Pay or Google Pay - Fees vary ($10 minimum deposit) Crypto - Free |
| Withdrawal Fees |
FedWire withdrawal - $4–$35 Crypto - Fees vary depending on coin or token |
Kraken is best for advanced traders
Kraken is a great pick for experienced traders, thanks to its advanced features like margin trading, futures and detailed order options. The Kraken Pro platform makes it easy to dive into in-depth charting and real-time market data, all with competitive fees.
Even more, it recently introduced a Request for Quote (RFQ) feature for Pro users. This feature allows for streamlined, automated trading on orders over $100,00 with guaranteed pricing and instant settlement options.
What we like about Kraken
Kraken has a lot going for it. It offers quite a wide bevy of tradable assets — with an extensive selection of 270+ cryptocurrencies in the US, spanning everything from leading digital assets such as bitcoin and ether to altcoins solana — as well as numerous lesser-known cryptocurrencies with small market caps.
On top of that, with the exception of a single high-profile breach, Kraken has been one of the most secure platforms in the industry.
Lastly, Kraken offers a variety of tools that advanced and intermediate traders can appreciate — from margin trading to advanced order types. It even provides an entire platform specialized for cryptocurrency trading in Kraken Pro, which comes free of charge.
While we’re on the topic of advanced tools, Kraken recently added two more features: take profit/stop loss, which streamlines order management by allowing traders to set profit targets and risk levels simultaneously, and swaps, which offer a fast, fee-free way to swap tokens across supported networks.
Where Kraken falls short
First and foremost is availability — residents of Maine, New York and Washington cannot use Kraken. Also, deposit and withdrawal limits vary quite a bit depending on your residency and verification level.
Additionally, staking services for US customers have been discontinued due to regulatory issues with the US Securities and Exchange Commission (SEC). This limitation impacts users seeking passive income opportunities through staking — a feature many other platforms still offer.
Lastly, although it has garnered mostly positive reviews, there’s obviously an issue with Kraken’s customer service, as witnessed by numerous online accounts.
Is Kraken safe?
Kraken is generally thought to be a safe platform. However, on June 9, 2024, a security researcher contacted the platform regarding its Bug Bounty program. It took the platform 47 minutes to patch the issue in question.
While that sounds innocuous enough, the security flaw was exploited and led to a breach. The researcher in question is suspected of sharing the flaw with at least two other people — who subsequently stole roughly $3 million worth of assets.(1)
In addition, we have to note Kraken’s legal woes. In 2023, it settled with the SEC for $30 million after a lawsuit regarding its staking-as-a-service feature. Because of this, Kraken no longer offers staking to US customers.(2)
Then, in November of 2023, Kraken became the subject of another SEC lawsuit — alleging that it operates as an unregistered securities exchange, broker and clearing agency.(3)
As significant as these incidents may sound, the security breach and the lawsuits in question do not pose red flags, per se. On the whole, the breach was relatively minor — and the lawsuit is rather standard fare, as many exchanges have faced similar accusations.
Readers should also note that, unlike traditional assets, cryptocurrencies are neither regulated nor protected by the SEC, FDIC or SIPC. Users do not have the same protections they do when trading traditional financial products.
Listed Kraken crypto exchange assets
One of Kraken’s strong suits is the wide range of tradable cryptocurrencies trades can access. That number stands at an impressive 276 as of January 2025. Worldwide, it offers 334 tokens, but 58 of those are not supported in the US.
Popular assets on Kraken
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- XRP (XRP)
- Solana (SOL)
- Dogecoin (DOGE)
- USDC (USDC)
- Cardano (ADA)
- TRON (TRX)
- Avalanche (AVAX)
- Toncoin (TON)
- Chainlink (LINK)
- Shiba Inu (SHIB)
- Sui (SUI)
- Polkadot (DOT)
- Stellar (XLM)
- BNB (BNB)
- Hedera (HBAR)
- Hyperliquid (HYPE)
- Bitget Token (BGB)
All Kraken crypto assets
How to sign up for Kraken
When signing up for an account, Kraken performs KYC (Know Your Customer) checks, as per its global Anti-Money Laundering (AML) requirements. This means you may have to submit more identification documents than typically necessary when opening a bank account or traditional investment account.
To sign up for Kraken, follow these steps:
- Download the Kraken app from the Google Play store or Apple’s App Store.
- Provide a valid email address, strong password and country of residence. Verify your account via email.
- Provide your first and last name (as written on your ID document), date of birth, address and occupation.
- Submit a photo ID, such as a passport or driver’s license.
- Provide a proof of address document, such as a utility bill or bank statement. US residents will also be asked to provide a high-quality face photo.
Filling out the necessary information should take only a few minutes if you have all your documents on hand, like your photo ID.
Getting your account verified usually takes about five days — however, it has been known to take a couple of weeks on occasion.
Customer experience
| BBB accredited | No |
|---|---|
| BBB rating | D- |
| BBB customer reviews | 1.44 out of 5 stars, based on 27 customer reviews |
| Trustpilot score | 1.4 out of 5 stars, based on 2,657 customer reviews |
| App Store Score | 4.7 out of 5 stars, based on 10,300 customer reviews |
| Google Play Score | 3.3 out of 5 stars, based on 32,300 customer reviews |
| Customer reviews verified as of | 30 January 2025 |
What do people on Reddit say?
However, many others complain of slow customer support responses, often leaving them unable to log in to their accounts for hours or even days. Others claim their accounts were closed or frozen without warning or explanation.
Compare Kraken to other platforms
Compare similar platforms by available asset types, trade fees and minimum deposit requirements. Select Go to site to sign up for an account.
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.
- “Cruising Bid-Ask Spread: Revealing Market Secrets,” The Trading Analyst
- “Kraken to Discontinue Unregistered Offer and Sale of Crypto Asset Staking-As-A-Service Program and Pay $30 Million to Settle SEC Charges,” US Securities and Exchange Commission, February, 2023
- “SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency,” US Securities and Exchange Commission, November 20, 2023
Your reviews
Shane Finder
Contributor
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Jhezelyn Finder
November 15, 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
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Trading nomad
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.
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Ron Finder
February 13, 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
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Paul Tucker
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 .
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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John
November 14, 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?