About Kraken
Kraken is a US based cryptocurrency exchange founded by Jesse Powell in 2011 that provides all the trading features you would expect of a modern cryptocurrency exchange. Today it remains one of the best – known and better secured exchanges for Bitcoin and other cryptocurrencies. Previously scorned as a platform of instability, the site has revamped its services with a focus on security and customer support.
Kraken is one of the world’s largest and best cryptocurrency exchanges with over 1.5 million users. It’s also the largest cryptocurrency trading platform in the United States with more than 1 million members.
Trading On Kraken
Kraken provides their customers with a range of options for advanced traders which includes spot trading, instant purchase and margin trading for the more experienced users. Krakens trading view is by far one of the most advanced in the industry and allows you to see parts of the order book, price charts and order history.
Along with its advanced trading tools comes a wide selection of cryptocurrencies which includes Bitcoin, Cardano, Bitcoin Cash, Ethereum and more. All in all Kraken has more than 72 cryptocurrencies listed on their platform, which is more than enough for most traders.
 | ✔️ Beginner friendly ✔️ Great support ✔️ Low trading fees |  | Go to Kraken |
Kraken Trading Fees
In terms of trading fees, Kraken starts slightly higher than the industry standard with its 0.26 takers fee. This is by all means not bad and it drops depending on how much you trade within a 30 day period. If you trade for more than 5,000,001 USD within 30 days the takers fee will drop down to 0.12%. One thing to keep in mind is if you use the Instant Buy feature then there is a flat fee of 1.5% for buying and selling any crypto.
Payment Methods
Deposits and withdrawals, in almost all cases, can be expected to take 1 to 5 business days, and in some cases longer. This is because the exchange is limited to only accepting bank transfers, which Kraken states reduce the risk of fraudulent activity.
Deposits are for the most part free, but in a few cases there is a small fee that applies to wire transfer deposits, depending on which country you live in. SEPA deposits are free, which makes Kraken especially convenient when you’re living in the European Union, or when your venue is on the list of the SEPA different countries. A bank wire transfer from the United States or outside of the US can cost you from 5 to 10 dollars.
In addition to bank transfers, you can deposit and withdraw funds in a wide selection of different cryptocurrencies. Here the fee really depends on which cryptocurrency you deposit and withdraw but, based on our experience it is a really low fee applied to these transactions.
Service and Kraken Support
Its website features an extensive support guide covering everything from verifying accounts to trading Here you will find detailed description of the exchange’s features, as well as a list of its services.
In most cases, you’ll find the information you’re looking for there, such as the price, the market cap, and the current market price of your coins. If you need support, you can submit a support ticket or use their live chat.
Conclusion – Is Kraken Safe?
Kraken’s main strengths lie in the fact that it’s a very secure exchange with a strong privacy policy. Kraken certainly has its advantages, but it also has had its share of criticism, as it has received poor grades from TrustPilot. Overall, it seems like since the website was revamped not long back the level of support and platform stability has improved significantly.
As a cryptocurrency exchange, it’s probably not the best option for beginners, especially with its very advanced trading view and lack of support for alternative payment methods. In that case we would suggest checking out Crypto.com which is a truly great beginner platform. However, for any veteran traders out there we can most definitely give Kraken two thumbs up.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Beginner friendly | Few payment methods |
| Great support | |
| Low trading fees |
| ✔️ Beginner friendly ✔️ Great support ✔️ Low trading fees | | Go to Kraken |