kraken review


The cryptocurrency exchange market is becoming crowded day by day and it can be difficult to find out which of the numerous exchanges is best for you. Whether you are casual investor who just wants to purchase and trade some cryptocurrencies or a hardcore professional who wants to make the most of every single trade, it is more important than ever to find the best exchange. Kraken is one of the options at your disposal. Headquartered in San Francisco, California, it is the largest Bitcoin exchange in terms of liquidity and volume. This veteran cryptocurrency exchange provides an advanced trading platform complete with OTC and margin trading options.


Founded in 2011 by Jesse Powell, Kraken is recognized for its overall security, wide range of features and low transaction fees. When the former Bitcoin exchange Mt. Gox went bankrupt, Kraken assisted in claims processing. Kraken provides its services all over the United States, with the exception of New York, Japan and the European Union. The exchange boasts about its 24/7 live customer support, industry leading security measures and high liquidity. It keeps full reserves of their customer funds and has also employed an independent, cryptographically-verified audit for providing proof that it holds funds properly.


An advanced trading platform is offered by Kraken that includes margin and spot trading for experienced users. When it comes to interface, you will come across plenty of options. Kraken offers Over the Counter (OTC) services for high volume trades, which are in excess of $100,000, and one-on-one service is also available. Furthermore, a dedicated account manager is also provided to traders for seeing to their needs. A dark pool is also offered by Kraken, which is an order book that’s not visible to the rest of the market. Every trader is only aware of their own orders. Large buy or sell orders can be placed anonymously without revealing them to other traders.

Cryptocurrencies and Payment Methods

Kraken provides support for three fiat currencies, which are US Dollars (USD), Euros (EUR) and Canadian Dollars (CAD). It is possible to make deposits and withdrawals via SWIFT, SEPA, domestic and wire transfers. In nearly all cases, deposits and withdrawals taken between 1 and 5 business days. As for deposits, they are usually made within 24 hours. When it comes to fiat deposits, SEPA don’t incur any charges, which can make Kraken quite convenient if you are in the European Union. You have to pay between $5 and $10 for a bank wire transfer within the U.S.

When it comes to cryptocurrencies, you will be able to buy and sell 20 different coins. These are:

  • Bitcoin
  • Litecoin
  • Dogecoin
  • Ethereum
  • Ethereum Classic
  • Ripple
  • Bitcoin Cash
  • EOS
  • Stellar Lumens
  • Dash
  • Tether
  • Melon
  • Monero
  • ZCash
  • Iconomi
  • Gnosis
  • Qtum
  • Cardano
  • Tezos
  • Cosmos


If you compare Kraken’s fees with the rest of the Bitcoin exchanges, you will discover that it is the lowest amongst all. The fee you pay will depend on your trading volume in the last thirty days. A maker-taker basis is used for calculating the fee. A lower fee is paid by makers, who are known for adding limit orders to the exchange, as compared to takers, who are responsible for fulfilling the existing orders.

The fee for spot trading is between the ranges of 0.26% and 0.06% while it is between 0.2% and 0% for Stablecoin trading. As far as dark pool fees is concerned, it is between the ranges of 0.36% and 0.2%.

Customer Support

There is an extensive support guide provided on Kraken’s website, which covers everything from trading to verifying your account. You will easily be able to find what you are looking for there. It is also possible to submit a support ticket or you can talk to a live rep through the built-in chat option on the exchange’s website.

Is it Legitimate?

It would certainly be fair to say that Kraken is worth considering, especially when you take its great security features into account and its low transaction fees. It does have a complex interface, which makes it better suited for advanced traders. Throughout the years, it has developed a strong and positive reputation and doesn’t seem to be going anywhere anytime soon.



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