Kraken

Kraken review: our verdict

Founded in 2011, Kraken is one of the oldest crypto exchanges still operating and is widely respected for its security and transparency. It has never suffered a major hack of customer funds, publishes proof-of-reserves attestations and offers a capable professional trading platform. It's our top pick for security-conscious traders and a strong alternative to Coinbase for US users.

Kraken at a glance

Fees

Kraken has two pricing models. The beginner Kraken app uses a fixed fee on Instant Buy plus a spread, which is convenient but expensive. Kraken Pro uses an order book with maker/taker pricing that, since a July 2026 update, starts at 0.40% maker and 0.80% taker and drops across tiers based on either your 30-day trading volume or the assets you hold on the platform. Stablecoin pairs use a separate, cheaper schedule. Bank deposits are often free or low-cost depending on your region and method. Always confirm current rates on Kraken's fee page, and read crypto fees explained.

Features

• Kraken Pro: advanced charting, a full range of order types and a responsive mobile app.
• Staking: available on selected coins in eligible regions. Learn how staking works.
• Margin and futures: for experienced traders in supported jurisdictions.
• Recurring buys: set up regular purchases for dollar-cost averaging.
• Tokenized stocks: offered in some regions.

Security

Kraken is known for conservative security practices. It keeps most customer funds in cold storage, supports authenticator apps and hardware security keys, offers a global settings lock and withdrawal address allowlisting, and publishes proof-of-reserves so customers can verify their balances are backed. Even so, we recommend moving long-term holdings to a hardware wallet.

How to get started

1. Sign up on Kraken's official website or app.
2. Verify your identity to unlock deposits and withdrawals.
3. Turn on two-factor authentication and the global settings lock.
4. Deposit via bank transfer for the lowest costs.
5. Trade on Kraken Pro with limit orders to pay maker fees.

Customer support

Kraken offers 24/7 live chat and a detailed help center, and is generally well regarded for support quality.

Kraken alternatives

• Coinbase: simpler for complete beginners. See Coinbase vs Kraken.
• Binance: more coins and lower base fees outside the US.
• Bybit: popular with derivatives traders outside the US and UK.

Who should use Kraken?

Traders and long-term investors who put security, transparency and reliable support first, including US users looking for a reputable alternative to Coinbase. Complete beginners may find the simple app's Instant Buy pricing expensive and should learn Kraken Pro.

Frequently asked questions

Is Kraken safe?

Kraken has one of the strongest security records in the industry and publishes proof-of-reserves. No exchange is risk-free, so use strong 2FA and keep long-term holdings in self-custody.

Is Kraken cheaper than Coinbase?

For most users trading on the pro platforms, Kraken Pro's entry-level fees are lower than Coinbase Advanced's US entry tier. Both are expensive if you use instant buy features.

Can US residents use Kraken?

Yes, in most US states, though some products such as certain staking or derivatives features may be restricted.

Does Kraken have proof of reserves?

Yes. Kraken regularly publishes proof-of-reserves attestations that let clients verify their balances.

This review is for educational purposes only and is not financial advice. Fees and features change; always confirm details on Kraken's official website.