Kraken Review 2025: Fees, Security & More

In this Kraken review, we discuss the factors that matter most to traders, including fees, security, and customer support.

Founded in 2011, Kraken is one of the industry’s oldest and most secure crypto exchanges. It’s fully functional, with low fees and a massive collection of coins.

The crypto exchange expanded its custody services for institutional investors in the UK and Australia, signaling its resilience. It’s buying futures trading platform NinjaTrader, and began offering stocks and exchange-traded funds (ETFs) in the US.

The company’s recent activity includes launching its cryptocurrency, INK (December), a global money app, Krak, and potential plans for an IPO in 2026.

Moreover, the exchange is incredibly beginner-friendly, with separate Basic and Pro platforms that cater to both beginners and advanced traders.

Our verdict on Kraken

Kraken looks less like a pure‑play crypto venue and more like a regulated, multi‑asset trading stack. After the SEC agreed to dismiss its 2023 case, Kraken moved fast: closed the $1.5B NinjaTrader deal, spun up U.S.-regulated CME crypto futures access, and pushed its Optimism‑based Ink L2 from pilot to production.

Trust still matters. Kraken keeps publishing cryptographically verifiable Proof of Reserves (latest review: Mar 31, 2025; BTC 114.9% coverage) and details cold‑storage practices. That transparency, plus long operating history, is why many pros keep balances here.

You get breadth: spot, margin, global futures, on‑chain staking (reintroduced for many U.S. states; check eligibility), and even Bitcoin staking via Babylon. Asset‑level portfolio P&L stats just landed in Kraken Pro (web + mobile). Kraken+ waives trading fees on up to $10K Buy/Sell volume, but quoted “Instant” trades carry higher spreads; shift to Pro’s maker/taker book for lower costs as you scale.

Fiat rails are still uneven today: supports major currencies, yet card access and local methods vary. Test deposits and withdrawals with small amounts first.

We’re currently watching two major arcs: the integration of NinjaTrader (traditional futures, equities, and possibly options) and a potential 2026 IPO, pending market conditions.

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Pros and cons of Kraken

Like any exchange, Kraken has its pros and cons. Below are the main benefits and drawbacks of Kraken’s platforms, Kraken and Kraken Pro.

Kraken pros

Kraken cons

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About Kraken

Jesse Powell founded Kraken in 2011 in San Francisco. Powell served as the company’s CEO until April 2023, when Dave Ripley took over.

Before Kraken, Powell worked as a security consultant for Mt. Gox, the Japanese Bitcoin exchange that collapsed into bankruptcy a decade ago.

Named after a giant, tentacled sea monster in Scandinavian mythology, Kraken operates in over 190 countries and has more than 2,000 employees. It has consistently led the crypto industry in security. The company is registered as a Money Services Business in the US with FinCEN (Financial Crimes Enforcement Network), while the Wyoming Division of Banking further supervises Kraken Bank.

In Canada, the company is registered as a Money Services Business with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), while in the UK, it operates locally as a Financial Conduct Authority (FCA) Registered Cryptoasset Firm.

Kraken UK EMI license, MIFID, and partnerships

In March 2025, Kraken announced it had obtained an Electronic Money Institution (EMI) authorization from the UK’s Financial Conduct Authority (FCA).

This means Kraken is strengthening its position in the UK, with the UK regulator giving it the green light to issue electronic money. This may be reflected in offering faster deposits and withdrawals.

Major partnerships were secured with Tottenham Hotspur FC (Spurs) and the Williams Racing Formula 1 team to enhance the company’s presence in the United Kingdom.

The Krak Card

Following the MiCA license in Europe, Kraken is rolling out its Krak card. The new card from Kraken will initially roll out in the UK and EU, offering instant spending support and no monthly fees. Users can choose which digital assets they wish to spend from their balance.

For cashback rewards (1% cashback on every spend), users will have the option to receive the rewards in their local currency or Bitcoin. Krak Card is using MasterCard. Salary deposits will also be introduced in the United Kingdom and Europe.

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Kraken fees

Fees apply during deposits, withdrawals, and trading. Below are some common fees you will likely encounter when trading at Kraken.

Deposit and withdrawal fees

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Trading fees

_{*Fees mentioned are for Kraken Pro. The fees for the basic Kraken platform vary due to the spread.}

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Kraken supported cryptocurrencies

Kraken gives you access to hundreds of cryptocurrencies for spot trading, covering all the names you’d expect—Bitcoin, Ethereum, Cardano, Dogecoin, Polygon, and more.

But there’s more under the hood: if you count network variants and region-limited coins, the number rises closer to 180, with the broader platform offering 290+ unique assets and 780 trading pairs. You’ll see the most choice if you’re outside the US, since residents there can’t access about 40 coins. Always double-check the official list for your country.

Switch over to the Kraken Wallet and you unlock even more. This self-custody app supports native tokens on Bitcoin, Ethereum, Arbitrum, Base, Optimism, Polygon, Solana, and Dogecoin. If you want to go deeper, you can hold and move thousands of ERC-20 and SPL tokens across those networks.

So, whether you’re trading or just holding, Kraken’s ecosystem gives you access to a huge range of assets, on and off the exchange.

Note that Kraken’s number of supported cryptocurrencies varies by region. For instance, US residents can’t trade around 40 cryptocurrencies. Visit Kraken to obtain more information on the regional limits.

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Kraken key features

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Kraken also rolled out regulated crypto futures for US users through Kraken Derivatives US, which is now linked to CME contracts.

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Kraken app review

Kraken gives you two mobile options: the standard Kraken app and Kraken Pro. Both are available for iOS and Android. The regular app keeps things simple for anyone getting started. You can buy, sell, swap crypto, move funds in and out, and manage your balance in just a few taps. It’s not overloaded, and you don’t have to wade through endless menus.

Kraken Pro steps it up for active traders. It brings deeper features from the desktop — order types, charts, margin, and even futures trading, all in your pocket.

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User ratings of Kraken

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_{*We have considered ratings and reviews of the Basic Kraken app.}

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Kraken customer satisfaction 

In our Kraken crypto review, we reviewed many user reviews of the Kraken exchange on the Play Store, App Store, and Trustpilot. Overall, user sentiment was positive, but some users complained about deposit issues.

They have been holding my deposit without any email or explanation for over 5 days now. I reached out to customer services a couple of times, and they said, “Concerned team is working on the issue, and they will be updating you over email.“ – Read a review on Trustpilot

The app is always up. It doesn’t try to force Authenticator apps on me as Uphold did, none of which worked. Withdrawals to cold wallets work fine.

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Kraken customer support 

Kraken offers 24/7 customer support via live chat and email in 13 languages. The exchange also offers phone support, but it was temporarily unavailable at the time of writing.

We tested both (live chat and email) the options and found them to be fast and reliable. Live chat with a virtual assistant is good for general inquiries, while users can talk to a customer support agent to get answers to specific questions.

Kraken also has a comprehensive FAQ section that provides detailed information on various topics, including funding, withdrawal, features, and more. The exchange also provides dedicated account managers to VIPs and high-volume traders.

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Is Kraken safe?

The following will help us determine whether or not Kraken is safe:

Security: Kraken follows industry standards when it comes to security. The exchange has adopted several measures to keep user funds safe, such as 2FA, email confirmations for withdrawals, and continuous platform and server monitoring.

Insurance: Though Kraken follows all security protocols, it doesn’t have insurance coverage for customer deposits. “Cryptocurrency exchanges do not qualify for deposit insurance programs because exchanges are not savings institutions,” Kraken says.

Proof-of-reserves: It refers to a third-party audit that verifies whether the exchange has the assets claimed by its clients. Kraken was among the first exchanges to adopt PoR, and it performs this audit every six months.

Past hacks: Kraken has existed for over a decade, but it has never been a victim of a successful hack. Some users, however, have reported hacked accounts with little or no support from Kraken.

Reputation: Kraken is a reputable cryptocurrency exchange that has been in business for more than a decade. It is certainly among the top when it comes to security.

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How to sign up for Kraken

Signing up for Kraken is a quick and easy process. Follow the steps below to create an account on Kraken:

Create an account

Step 1: Visit the official Kraken website and click on the signup button in the upper-right corner (you can also use Kraken’s mobile app to sign up).

Step 2: You will land on the sign-up form, where you need to enter your email address and country of residence and create a strong password.

Step 3: Tick the agree box, implying that you have read Kraken’s Terms of Service and Privacy Policy, and then click the Create account button.

Step 4: You will receive an activation email with an activation key. Enter the activation key on the account activation form. You can also complete the activation by clicking the link in the email.

Step 5: You must reconfirm your password and click the Activate Account button. That’s it!

It must be noted that just creating an account will give you limited functionality. You must verify your details and complete KYC requirements to buy and sell cryptocurrencies.

To verify the details, click on “Verify account” and provide the following information: Mobile number, First and last name, Date of birth (must be at least 18 years of age), Address, and Occupation. Residents of the US and South Africa may be subject to further requirements.

Additionally, you will have to submit supporting documents to complete your KYC. Once you have completed the steps, your account has been created, and you may begin buying or trading cryptocurrencies — including exploring upcoming Kraken listings for new opportunities.

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FAQs