Operating since 2011, Kraken is a US based cryptocurrency exchange that allows you to trade bitcoins and altcoins in multiple fiat currencies, they also offer also offers margin trading and futures contracts. Kraken excels in safety by implementing safety measures and regulations to ensure secure and safe transactions for its users. Kraken is popular due to its low fees, you can deposit for free and its withdrawal and trading fees are very competitive.
General Kraken company information
My Overall Thoughts on Kraken:
Kraken is a great choice, its safe (a decade in business, operates in the US, is regulated by US law), it accepts 4 fiat currencies, offers a wide range of cryptos, has low fees, great customer service and a clean and safe registration process. All round good service.
Supported Cryptocurrencies:
Kraken currently supports approximately 53 different cryptocurrencies including all the most popular (BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, BAT, ETC)
| BTC | ZEC | KAVA | KNC |
| ETH | LSK | KSM | LINK |
| XRP | NANO | BAL | MANA |
| BCH | SC | YFI | STORJ |
| EOS | KEEP | REPV2 | ANT |
| LTC | TBTC | CRV | GNO |
| ADA | ETH2 | FIL | MLN |
| XLM | WAVES | AAVE | DAI |
| TRX | REP | XMR | DOT |
| DASH | DOGE | USDT | ATOM |
| COMP | BAT | ETC | UNI |
| OXT | ALGO | ICX | XTZ |
| OMG | SNX | QTUM | USDC |
| PAXG |
Registration Process:
At Kraken there are three levels of accounts, Starter, Intermediate and Pro. Each on has varying limitations and security requirements. All users must submit KYC documents before you trade.
Features / Verification level | Starter | Intermediate | Pro |
|---|---|---|---|
Verification time | Less than 1 hour | 1 to 5 days | 1 to 5 days |
Security measures | Yes | Yes | Yes |
Crypto deposits | Unlimited | Unlimited | Unlimited |
Crypto withdrawals | Low limits | High limits | Highest limits |
Fiat deposits | - | High limits | Highest limits |
Fiat withdrawals | - | High limits | Highest limits |
Exchange funds | Unlimited | Unlimited | Unlimited |
Margin trading | Low limits | High limits | Highest limits |
Dark pool trading | - | - | - |
Kraken Futures | - | Yes | Yes |
API keys | 16 | 16 | 25 |
API call rate limits | Low | High | Highest |
Kraken Fees and Limits:
Depending on your trade volume and type of trade Kraken's fee structure will change. Fees vary for stablecoins, dark pool trades and margin trading, so it’s a good idea to check Kraken’s website for the latest break down.
30-day volume (30-day USDT) | Maker fee | Taker fee |
|---|---|---|
$0 – $50,000 | 0.16% | 0.26% |
$50,001 – $100,000 | 0.14% | 0.24% |
$100,001 – $250,000 | 0.12% | 0.22% |
$250,001 – $500,000 | 0.10% | 0.20% |
$500,001 – $1,000,000 | 0.08% | 0.18% |
$1,000,001 – $2,500,000 | 0.06% | 0.16% |
Kraken Deposits and Withdrawals:
With standard network fees you can deposit cryptocurrencies, its worth noting the deposit options and fees will vary depending on whether you’re depositing USD, EUR, CAD, AUD, GBP, JPY or CHF, and whether you’re making a deposit or withdrawal. Lets break them down:
Cryptocurrency | Minimum | Fee |
|---|---|---|
Any supported cryptocurrency | None | Network fees apply |
Transfer type | Minimum (USD) | Fee (USD) |
|---|---|---|
FedWire – MVB Bank | $1 | Free |
FedWire – Signature Bank | $1 | Free |
FedWire – Synapse | $20 | $5 |
FedWire – Silvergate | $100 | $25 |
FedWire – Etana Custody | $150 | Free |
SWIFT – Signature Bank | $1 | Free |
SWIFT – Silvergate Bank | $100 | $40 |
SWIFT – Bank Frick | $4 | $3 |
Silvergate Exchange Network – SEN | no minimum | Free |
Transfer type | Minimum | Fee |
|---|---|---|
SEPA – Fidor | €1 | Free |
SEPA – Etana Custody | €150 | Free |
SEPA – Bank Frick | €1 | $5 |
SEPA – InCore Bank (Excluding Cyprus and Iceland) | €1 | Free |
SWIFT – Bank Frick | €4 | €3 |
SWIFT – Fidor | €50 | €5 |
SWIFT – Etana Custody | €150 | Free |
Transfer type | Minimum (CAD) | Fee (CAD) |
|---|---|---|
Domestic wire transfer | $125 | Free (sending banks may apply fees though) |
In-person at Canada Post locations, with cash or debit | $20 | $1.25 + 0.25% |
InterFIN – High Limit | $1,000 | Free (sending banks may apply fees though) |
SWIFT – Bank Frick | $4 | $3 |
SWIFT – Etana Custody | $150 | Free |
Transfer type | Minimum (AUD) | Fee (AUD) |
|---|---|---|
Osko – Bank Transfer | $5 | Free (sending banks may apply fees though) |
Transfer type | Minimum (AUD) | Fee (AUD) |
|---|---|---|
FPS/BACS (Clear Junction) | £3 | Free |
CHAPS (Clear Junction) | £22 | £21 |
SWIFT – Bank Frick | £4 | £3 |
SWIFT – Etana Custody | £150 | Free |
Is Kraken a legit company or a scam?
Short answer is yes, Krake is a real legitimate company. Here is my proof:
1. I tested buying crypto with them myself, this proved successful. I was able to deposit my money, buy bitcoin and then withdraw my money.
2. They have a Wikipedia page, anyone who knows anything about creating a Wikipedia page knows it is a rigorous process getting this approved by moderators. I challenge any to find me a fake company with a Wikipedia page.
3. The listed CEO and founder Jesse Powell has a busy linkedin page with 500+ connection and a Twitter page with nearly 40k followers:
4. The offical Kraken Twitter page (that is linked in Jesse Powell's Twitter profile) has nearly 450k followers and thousands of likes and retweets on every tweet.
It is almost impossible to pull all this off if you are a non legit scammy website stealing money. For this reason, we give Kraken 100% trust score.
Our Final Thoughts on Kraken:
We give Kraken the seal of approval, they are one of the biggest names in the industry for a reason. Almost a decade of experience makes them as trustworthy as possible in this young industry, combined with their low fees makes them on of our most recommended platforms for crypto.
- Wide fiat and crypto range. Kraken has USD, EUR, GBP, CAD, AUD, JPY and CHF pairs, along a wide range of cryptocurrencies, Kraken is one of the top versatile exchanges in the world
- Feature-filled. At Kraken you can find margin trading, futures, an OTC desk, dark pools and additional tools such as indices and its own Cryptowatch.
- 24/7/365 customer service. Kraken has excellent customer service every hour of every day of the year, in addition to account management services for advanced traders.
- Since 2013. Kraken is one of the world’s largest exchanges by trading volume and is widly regarded as one of the most legitimate.
- Varying fees. You need to be aware of the fees, because they can vary by trade type. Basic trading fees range from 0% to 0.26%. Its important to note that stablecoin trading or margin trading have different fee structures.
Still not convinced? Read our guide on the best crypto exchanges in the US.
To read our privacy policy visit this page.