Kraken Review

Donny Gamble
March 12, 2022
Personalincome rating

Kraken is one of the longest-standing crypto exchanges on the planet, and comes with an excellent UI, fantastic fee structure, but some security vulnerabilities that can raise concern among users.

Kraken logo
on Kraken's website
.2% per transaction
trading fee

No current promos

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Key Takeaways

All-in-One: Buy, sell, and hold your crypto all within the Kraken platform, so you can always be ready to trade at a moment’s notice.

Pros & Cons

  • Access to over 110 different crypto coins
  • High liquidity
  • Super simple UI
  • You have to pay for the Pro version
  • Not immune to hacks

As one of the oldest crypto exchanges out there, Kraken has been a constant, even if it has taken a backseat to Coinbase and FTX when it comes to buying crypto.

So what’s special about them, and what do they offer you that other exchanges don’t? It’s a hard space to be unique in, but Kraken has some features that you wouldn’t have expected, showing why they’re still around after all these years.

We’re going to talk about everything you need to know as a potential Kraken customer, the ups and downs, and everything in between.

Without spoiling anything, you should know that it’s a great exchange if you can get past a few caveats.

About Kraken Exchange

Kraken boasts their goal of accelerating the acceptance and use of cryptocurrency throughout the world, and so far, they’ve done a good job at being on the right side of history with cryptocurrency.

Kraken was established in 2011, making it one of the oldest crypto exchanges out there.  They talk about empowering investors, and while this is a for-profit business, their long-time stance on the decentralized aspects of crypto really puts their money where their mouth is. 

There are so many exchanges that talk about empowering others while charging ridiculous fees, and we’re happy to say Kraken actually means what they claim.

Product Offerings

Kraken offers margin trading, futures, instant crypto purchase, cryptocurrency exchanging (for other coins), Kraken Pro to help reduce fees depending on your trading volume, and trading stablecoins for cryptocurrency (which is one of the best ways to fund your account).

Their service is straightforward and all of their fees are transparent on their website.

Kraken Fees

Kraken uses the last 30 days of your transactional data to provide fee structuring. The common misconception is that this punishes high-roller investors, but it’s actually designed to equalize the market and actually not punish high-rollers, while also making trading more accessible to small scale investors.

Taker fees end up being around 0.10% for a transaction up to around 0.26%, just over a quarter of a single percent (compared to services like Coinmama who can charge up to 4.50%, this is amazing).

Maker fees can actually be 0.00% if the transaction is small enough, and caps out around 0.16%, leaving you with more of your coin and fiat money than most other exchanges.

Purchases are different from just taker and maker fees. You can expect a 1.50% charge for direct purchase through your crypto balance, and around 0.90% for stablecoins.

The main downside to Kraken’s fee pricing is buying crypto with a debit or credit card (which you shouldn’t do regardless of the exchange).

This ends up being 3.75% of the total cost because of the processing fees that Kraken has to pay. It’s much better to buy stablecoins and use those to trade for cryptocurrency.

Who is Kraken Best For?

Kraken is best for everyone. That sounds like a blanket statement, but it’s true: they created one of the most friendly UI’s out there, make sure their fee structuring doesn’t gouge new investors who just want a chance to get in on the crypto game, and they are available nearly everywhere (apart from a couple of US states pretty much).

If you’re a new investor and want to learn how Kraken works, and you want access to informational material that trains you to be a better investor, Kraken is the place for you.

High-roller investors can still make a serious profit as well.

Kraken FAQ's

Is Kraken safe and legit?

Kraken is one of the first crypto exchanges that have ever existed, and they’ve kept up their amazing security from then until now.

You may not know it now, but Kraken actually helped shape how cryptocurrency is traded and influences how other platforms make their marketplaces work.

You can’t get a better grip on security and longevity than with Kraken.

Should you use Kraken to buy crypto?

Yes, Kraken is actually one of the best exchanges for anyone to trade on because of their historically low fees, and simple fee structure system.

You’re not paying insane amounts just for making simple exchanges, that way you don’t have to utilize most of your budget just for the fees you run into.

Kraken is transparent and inexpensive for buying crypto among other products, so you always get the best deal and beyond competitive fee pricing compared to other exchanges.

Is Kraken good for beginners?

Yes, Kraken is an easy-to-use and beginner-friendly platform that anyone can begin using with little to no issue.

Any newcomer to the crypto space can navigate their way through Kraken’s site and interface with relative ease, although the more in-depth options are still there and able to be accessed, meaning you can customize the way that you use Kraken however you want to.

How does Kraken make money?

It’s not the most common method, but Kraken uses a 30-day previous transaction scale to determine how you will pay fees.

They charge you through transactions, and also many money through futures, margin trading, and the OTC marketplace, so you’ll be able to invest in assets not listed on the NYSE and other popular exchanges if that’s what you’d like to do.

Kraken has various transaction fees and financial products that diversify their revenue stream, which is why their fees are so low.

Does Kraken sell any of my personal information?

Kraken uses the word information nearly 150 times in their privacy policy, but nowhere does it explicitly state whether or not they sell your information.

In fact, the word “sell” isn’t even in their entire privacy policy, so they’re not specifically stating that they do not sell your information.

Kraken does state that they respect your personal information, and based on the lack of previous issues with their security team, you should be in safe hands. Just be sure to read the details of the privacy policy well.

Compare to Other Exchanges

Coinbase logo
Offers $5 free bitcoin to new users
Binance logo
$100 bonus on qualifying deposit
FTX logo
5% off trading fees

Kraken Exchange

Kraken is a US-based cryptocurrency exchange that allows you to easily buy, sell, and trade crypto. It is a high rated platform based upon it's level of security.

  • Kraken
  • Rating: 4
  • Reviewed by:
  • On March 12, 2022
  • Last modified:March 12, 2022

Review Summary:

Kraken is a US-based cryptocurrency exchange that allows you to easily buy, sell, and trade crypto. It is a high rated platform based upon it's level of security.

Review of: Kraken

Reviewed by:
On March 12, 2022
Last modified:March 12, 2022


Kraken is a US-based cryptocurrency exchange that allows you to easily buy, sell, and trade crypto. It is a high rated platform based upon it's level of security.

About the author 

Donny Gamble

I’m Donny. I’m a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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