Key Takeaways
- Kraken is a prominent cryptocurrency exchange known for its longevity, security, and wide range of features.
- Kraken has been operating since 2011, making it one of the oldest cryptocurrency exchanges in the United States.
- Kraken operates in multiple jurisdictions, allowing users from various regions to access its services. However, specific offerings may vary depending on local regulations.
Kraken is a major US-based cryptocurrency platform with fiat and crypto trading pairs and advanced trading options.
Read this review to learn everything you need to know about trading safely on the Kraken exchange platform.
What Is Kraken?
Kraken is a US-based exchange founded in 2011 by Jesse Powell. It officially launched trading operations in 2013 and is now among the best exchanges in the United States.
In 2025 Kraken bought the US futures platform NinjaTrader for $1.5 billion. In November 2025 it raised $800 million at a $20 billion valuation and confidentially filed for a US initial public offering (IPO). CoinDesk reports that the listing has been pushed back to the second quarter of 2027 at the earliest.
Known for its user-friendly interface and advanced trading features, the platform offers a wide range of cryptocurrencies to trade, including Bitcoin, Ethereum, and numerous other digital assets. The exchange also provides various trading tools and services, such as margin trading, futures contracts, and staking.
Kraken’s commitment to security has been a key contributor to its success and employs strong measures to protect user funds and data, including cold storage wallets and two-factor authentication. Kraken also holds licences in many countries, including a MiCA licence from the Central Bank of Ireland for the EU (June 2025) and a registration with the UK’s Financial Conduct Authority.
Kraken does not serve clients in a list of prohibited regions, including Japan, Russia, Iran and North Korea, or in the US states of New York and Maine.
Kraken Features
Kraken caters to various trading needs. Here are some of the exchange’s key features:
Trading
Kraken offers trading pairs in USD, EUR, GBP, CAD, AUD, CHF and JPY, with around 600 cryptocurrencies listed on its platform. Margin trading is available to eligible clients, though it magnifies losses as well as gains. Outside the US, eligible clients can also trade xStocks, tokenized US shares.
Kraken Pro
Kraken Pro is a professional trading platform offered by Kraken that is designed for advanced traders who require more sophisticated tools and features than the standard Kraken interface.
One of Kraken Pro’s key features is its customizable interface. Traders can arrange their trading screens to suit their preferences and workflow, allowing for efficient navigation and access to essential information. This customization includes adding or removing charts, ordering books, and other trading instruments as needed.
Institutional OTC Trading
Kraken’s Over-the-Counter (OTC) desk is a premium service designed to cater to the specific needs of institutional clients and high-net-worth individuals who require large-volume cryptocurrency trades. Unlike traditional exchange trading, OTC transactions are conducted privately outside the open market.
API Center
Kraken also has an Application Programming Interface (API) Center that enables developers and traders to interact with the exchange programmatically. This allows for automated trading strategies, custom applications, and efficient asset management.
Currently, Kraken has three APIs:
- REST API – This standard HTTP-based API provides a request-response model. You send a request to a specific endpoint and receive a response.
- Websocket API – This API offers real-time, two-way communication between your application and Kraken. It is ideal for streaming market data and receiving updates instantly.
- FIX API – This is a more complex protocol primarily used by institutions for high-frequency trading.
Support
Kraken offers a comprehensive support guide and a Reddit sub for escalating tickets. Their support may take a few days to respond to tickets, but is generally helpful.
Fees
Kraken’s trading fees depend on how you trade and how much. Kraken Pro uses a maker-taker fee schedule: makers place orders that wait on the order book, takers fill existing orders, and makers pay less.
The only issue is that their fees are incredibly complex, volume-based, and tricky to grasp. Here are a few things you should know:
- In the Kraken app, you pay 1% on instant and recurring buys and 1.5% on custom orders, plus a spread.
- On Kraken Pro, the entry tier (under $2,500 of 30-day volume) pays 0.40% as a maker and 0.80% as a taker under the fee tiers in force since July 9, 2026.
- Fees fall as your 30-day volume or the assets you hold on Kraken grow. From $10 million a month, makers pay 0% and takers 0.10%.
Unless you trade more than $10,000 a month, expect to pay 0.60% to 0.80% as a taker on Kraken Pro.
Is Kraken Safe?
With all the horror stories about scam exchanges, Ponzi schemes, and million-dollar hacks, we are not surprised to see the web full of these questions. Users wanted to know if the Kraken exchange was just another scam or if it was legit.
Well, we dug deep into the dirt and found some promising information:
Kraken places a huge emphasis on its security, stating that safeguarding customer funds and privacy is its number one objective. Kraken stores consumer funds in a combination of hardware wallets and hot wallets. They also keep their devices in cages which are kept under 24/7 surveillance by armed guards, alarm systems, and security cameras.
Moreover, the exchange regularly conducts penetration testing to identify and address potential vulnerabilities. Kraken also offers a bug bounty program that incentivizes security researchers to report any security flaws, helping maintain a strong defense against threats.
All the clues point toward solid security, and Kraken has not reported a hack in which customer funds were stolen.
In June 2024, the exchange suffered a significant security breach. Researchers exploited a critical zero-day vulnerability in the platform to withdraw nearly $3 million in digital assets from Kraken’s own wallets.
The vulnerability, discovered through Kraken’s bug bounty program, allowed attackers to artificially inflate their account balances without completing the entire deposit process. This enabled them to “print” assets in their accounts, effectively stealing from the exchange’s reserves.
At first, the security researcher who discovered the flaw refused to return the stolen funds. Kraken’s Chief Security Officer, Nicholas Percoco, described the situation as “extortion” rather than legitimate white-hat hacking. The researcher allegedly shared the vulnerability details with two others, who also exploited the flaw to withdraw funds. Kraken swiftly identified and patched the vulnerability, preventing further exploitation.
The blockchain security firm CertiK later said it was behind the withdrawals, and on June 20, 2024, Kraken confirmed the funds had been returned, minus a small amount lost to fees.
In April 2026, Kraken said criminals had recruited support staff to view data on about 2,000 accounts and then tried to extort the company. Kraken refused to pay and said funds were never at risk.
Legal Issues With The US SEC
In November 2023, the Securities and Exchange Commission (SEC) filed a lawsuit against Kraken, alleging that it operated as an unregistered securities exchange, broker, dealer, and clearing agency.
The SEC argued that some crypto assets traded on Kraken were sold as investment contracts, and therefore securities, so Kraken should have registered with it. Staking was a separate case: in February 2023, Kraken paid $30 million and stopped offering staking to US clients.
Kraken strongly defended its position and asked the court to dismiss the case, arguing that the crypto assets traded on its platform were not securities.
Six months later, in August 2024, US District Judge William H. Orrick ruled that Kraken must face an SEC lawsuit alleging securities violations. According to the court’s ruling, the SEC has made a plausible case that certain activities on Kraken’s platform involve securities, subjecting them to federal securities laws.
The ruling was a setback in the industry’s long tussle with the SEC to define which cryptocurrencies, if any, qualify as “securities” under US law and, therefore, fall under the SEC’s jurisdiction.
The case never reached trial. It was dismissed with prejudice on March 27, 2025, and Kraken said it admitted no wrongdoing and paid no penalties.
Pros And Cons
Pros
- Their crypto withdrawals are more competitive than most.
- The platform has access to the world’s most common fiat currencies, making life easier and offering lucrative trading possibilities.
- Kraken scores well on independent rankings. In October 2026, CoinGecko gave it a trust score of 10 out of 10.
Cons
- Kraken’s verification tiers and confusing trade interface are not beginner-friendly.
- With around 600 coins and more than 1,300 trading pairs to choose from, Kraken’s listings are still limited compared to those of its competitors.
- In periods of high market volatility or trading volume, users may encounter delays in order execution.
- Kraken is not available in New York, Maine or several countries, and some products, such as xStocks and staking, are limited by region.
Who Kraken Suits Best
Kraken is a liquid exchange that offers a great trading experience. Its high-volume order books, comprehensive fiat currency options, and smooth UX work together to make trading fun and enjoyable. From its detailed trading tools to margin trading and lending, it gives users many ways to make good money. And it is easy to get money off the site cheaply.
The platform is secure, well-connected, and transparent, notably because it has been in business for thirteen years. Overall, it is a good exchange for experienced traders who can take advantage of all it has to offer.
