Kraken Review
A leading cryptocurrency exchange for advanced traders and institutions.
Exchange Overview
Kraken is one of the oldest and most respected cryptocurrency exchanges in the world. Founded in 2011, it has built a strong reputation for security, reliability, and advanced trading features. The platform caters to both individual and institutional traders with a comprehensive suite of trading tools and services.
Known for its robust security measures and regulatory compliance, Kraken offers a wide range of trading options including spot, margin, and futures trading, along with staking services and an OTC desk for large trades.
Key Features
Trading Fees
Maker Fee
0.16%
Taker Fee
0.26%
Discounts
Volume-based discounts
Trading fees can be reduced by:
- Increasing 30-day trading volume
- Using stablecoin pairs
- Qualifying for VIP pricing
Deposit Methods
Pros & Cons
Advantages
- • Strong security track record
- • Low trading fees
- • Advanced trading features
- • Excellent customer support
- • Regulated platform
- • Fiat currency support
Disadvantages
- • Complex for beginners
- • Limited payment methods
- • Geographic restrictions
- • Slower verification process
Security Features
Getting Started with Kraken
1. Account Creation
- Visit Kraken.com and click "Create Account"
- Enter email, username, and password
- Verify your email address
- Set up 2FA security
2. Identity Verification
- Choose verification tier (Starter, Intermediate, Pro)
- Submit required documentation
- Complete verification process
- Wait for approval (can take several days)
3. Fund Your Account
- Select deposit method (wire transfer recommended)
- Follow deposit instructions carefully
- Wait for funds to clear
- Consider starting with a small test deposit
4. Start Trading
- Choose between Simple and Advanced interfaces
- Place your first trade
- Explore additional features
- Consider setting up API access
Frequently Asked Questions
Is Kraken safe to use?
Kraken is one of the most secure cryptocurrency exchanges, with features like 95% cold storage, regular security audits, proof of reserves, and a perfect security track record since 2011. The platform is regulated in multiple jurisdictions and has never been successfully hacked.
What are Kraken's fees?
Kraken's trading fees start at 0.16% for makers and 0.26% for takers, with discounts available based on 30-day trading volume. Additional fees may apply for certain funding methods and services like margin trading or futures.
How do I start using Kraken?
To start using Kraken: 1) Create an account at Kraken.com, 2) Complete identity verification (Starter, Intermediate, or Pro), 3) Add funds through supported deposit methods, 4) Begin trading. Different verification tiers offer different features and limits.
What cryptocurrencies are available on Kraken?
Kraken supports over 120 cryptocurrencies including major coins like Bitcoin and Ethereum, as well as a wide range of altcoins. The platform regularly adds new assets after thorough security and compliance reviews.
What trading features does Kraken offer?
Kraken offers spot trading, margin trading up to 5x, futures trading up to 50x, OTC desk for large trades, dark pool for private orders, and advanced order types including stop-loss, take-profit, and conditional orders.
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