Pros Explained

• 400+ cryptocurrencies: As of May 2025, Kraken supports over 400 spot cryptocurrencies, including Bitcoin, Ethereum, Solana, and Dogecoin, to name a few. The exchange also continuously adds new coins to its platform.
• Intuitive user interface: Kraken’s user interfaces across mobile and desktop are well-designed, easy to navigate, and well-suited for traders of all skill levels.
• Multiple advanced security features: Kraken has additional advanced security features like the Master Key and Global Settings Lock (GSL) to protect accounts from unauthorized access.

Cons Explained

• Limited availability in some jurisdictions: Certain Kraken features may be limited depending on the user’s location. For example, onchain staking is only available to U.S. residents in select states.
• High fees: Kraken’s fees are relatively high for regular users and can get even more expensive for those with limited crypto knowledge.
• Unresponsive customer support: Some users have reported unnecessarily long wait times and unresponsive customer support across Kraken’s customer service channels.

Kraken is a popular cryptocurrency exchange that allows people to buy, sell, and trade cryptocurrencies. It supports margin trading and also provides users with higher risk tolerance access to derivatives such as futures, perpetuals, and other advanced trading products.

Company Overview

Based in the U.S. and headquartered in San Francisco, Kraken serves over 15 million clients across 190 countries and territories. It was founded by Jesse Powell, who was a consultant for Mt. Gox before the exchange’s infamous collapse in 2014. Kraken was established to accelerate cryptocurrency a🅰doption and give eve🃏ryone a chance at financial freedom.

The exchange offers two platforms: the standard Kraken platform, which is suitable for beginners and clients who prefer a more straightforward interface, and Kraken Pro, a platform for more advanced users, designed to be cost-effective and provide access to more than just spot trading. It also has a non-custodial wallet that supports several cryptocurrencies and NFTs. Kraken previously operated a dedicated NFT marketplace but began winding it down in November 2024. 

Cryptocurrencies Available on Kraken

As of March🔯 2025, Kraken supports roughly 421 cryptocurrencies, including:ꦡ 

• Bitcoin (BTC)
• Ethereum (ETH)
• Dogecoin (DOGE)
• Polygon (MATIC)
• Solana (SOL)
• Sui (SUI)
• Toncoin (TON)
• Aptos (APT)
• Wrapped Bitcoin (WBTC)
• Litecoin (LTC)
• Toncoin (TON)
• Polkadot (DOT)

Trading Experience

Kraken

Kraken’s platforms are generally easy to navigate yet powerful, making the broker a solid choice for traders and long-term investors. Its highly customizable desktop platform offers a wide range of tools for technical analysis, position monitoring, and exploring the markets. The mobile apps are also well-designed and make trading cryptos on the go seamless and simple. Kraken accounts can be funded with six fiat currencies—USD, EUR, GBP, CAD, CHF, and AUD—using a variety of methods such as bank transfers, e-wallets, wire transfers, SEPA transfers, and SWIFT transfers. Withdrawals can be made using the same methods. Alternatively, you can use Kraken Pay, available exclusively on the Kraken app, to receive fiat or crypto from other Kraken users at no cost to either party.

Kraken Pro

Kraken Pro is designed specifically for seasoned and active traders. Its advanced functionality supports eight order types, including limit and iceberg orders, and allows clients to execute their trades instantly. It also offers advanced charting features and enables users to set price alerts to help them stay on top of markets. Additionally, Pro users can trade futures with collateral options and advanced staking options.

Deposit and withdrawal methods are similar to those offered on the regular Kraken platform. If you are unsure whether to use the regular Kraken or go Pro, you can open and try both accou♏nts—Kraken does not restrict you to one account type. 

Fees

Kraken charges relatively high trading fees compared to market averages. In addition to d🅺eposit and withdrawal fees, which vary depending on your selected method, here are other fees to expect when using the exchange:

• Spread, which depends on several factors
• 3% conversion fee when using the "Convert small balances" feature
• Transaction fee displayed before each transaction

Kraken Pro Pricing

Kraken Pro uses a maker-taker fee model with volume 🌺discounts based on activity in the past 30 days. The fees are charged per trade and a🦩re usually calculated on a trade’s quote currency volume, with some exceptions. It is important to note that trading volume generated with the “Instant Buy” feature does not count towards the 30-day volume incentives. Below is the general breakdown of Kraken’s maker-taker fee schedule.

Security

Kraken accounts have a relatively high level of security compared to many competitors. In addition to passwords and 澳洲幸运5开奖号码历史查询:two-factor authentication (2FA), Kraken has two additional advanced security features: Master Key and Global Settings Lock (GSL), w꧑hich users can enable at their discretion. 

The Master Key feature makes it difficult for an attacker to reset your password, while the GSL feature hides critical information and prevents access to key actions like withdrawals. Users can set a time to unlock their account, but they will need to sign in and relock their account after being notified of a potential breach. This feature can only be bypassed with the🔯 Master Key. 

These security measures do not replace reg🅺ular security practices and can be combined with them. As with any other cryptocurrency exchange, storing your credentials securely is considered a best practice to prevent unwarranted accessꦦ to your Kraken account.

Opening a Kraken Account

Opening a Kraken account is similar to opening an online stock brokerage account. To start the process, you are required to input your email and create a 12-character password. Once you submit these details, ဣyou will receive a one-time activation code to finish setting up your account, which will take around two minutes.

Remember that you can not deposit and withdraw fiat and crypto until you complete the 澳洲幸运5开奖号码历史查询:know your customer (KYC) procedures. To a🎃ccess the main account functions, you will need to verify 🦄your identity with a self-photo and a government-issued ID.

If you prefer to sign up for Kraken Pro, you will need to submit an email address, pick a password, and choose a username. Keep in mind that usernames cannot be changed later. Once you submit this information and receive an activation code in your email, complete the KYC and enjoy the full function🌠ality of your account.

Customer Service

Kraken offers support via email and phone, as well as a support center on its website. It also has a live chatbot, K🌟ai, to answer more general questions. Although Kraken claims to offer round-the-clock support, some users have reported that support is either unresponsive or unablཧe to solve problems promptly and satisfactorily, which potential new users should be aware of.

Customer Satisfaction

Overall, Kraken has poor ratings on pop🗹ular customer review sites. While most of the complaints are about general issues like delayed deposits and withdrawals, some users have also reported being suddenly locked out of their accounts and unab🥃le to withdraw funds due to unclear KYC procedures. 

A🥂dvanced users also complain that Kraken lacks essential trading tools like profit-and-loss calculators. If you are considering using Kraken, you should be aware of tꦓhese concerns. 

Account Management

You can access your Kraken accoun🐠t anytime and anywhere via the free, easy-to-use mobile and desktop apps. The exchange provides non-custodial wallets and offers above-average security features, but you still have to do your part to keep your crypto safe. 

Final Verdict

Kraken’s easy-to-navigate interface, wide range of cryptocurrencies, and long-standing track record make it a good choice for bo🦄th begi꧅nners and more seasoned traders. However, poor customer satisfaction, unresponsive support, and high fees may scare away users looking for peace of mind and stress-free account management.

How We Picked the Best Crypto Exchanges

Investopedia's in-house team of researchers collected nearly 450 data points through online research of 14 leading cryptocurrency exchange provider websites. To fill in any gaps, our research team reached out to the individual exchanges. In some instances, our researchers did much deeper online research to get the information they needed to complete the data collection. The data collection process spanned from Feb. 7, 2025 to Feb 11, 2025.

We then developed a proprietary model that scored each company to rᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚate its performance across four major categories and 29 weighted criteria to find the best cryptocurrency exchange companies. The score for e👍ach company’s overall star rating is a weighted average of the criteria in the following categories:

• Trading Features: 30%
• Fees: 28%
• Security: 21%
• Transparency: 21%

Through our research, Investopedia has provided you with a list of the best crypto exchanges, guided by data-driven analysis and an unbiased and fair approach to helping readers find the best crypto exchange. 澳洲幸运5开奖号码历史查询:Read our full detailed methodology.