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Kraken is the popular exchange allrounder based in San Francisco that offers something for every investors type. It impresses with a high level of security and a well-balanced user interface. Trading fees on Kraken are average.

Target User

Beginners & Experts

Coins

62

Trading fees

medium

Fiat Withdrawal Fees

low

Security

Countries

200+

Languages

EN + 13

Pros

Live Chat at the Website offers fast and detailed answers

Support
The user interface is well-suited for beginners and advanced traders

User Interface
Officially, Kraken was never hacked

Hacks
Low fiat withdrawal fees

Fees
Insurance fund to protect user funds case of security breaches

Insurance
Comprehensive investor education on Coinbase Learn

Education

All pros

Cons

For most fiat currency deposits and withdrawals Kraken only offers bank deposits, no other payment methods available

Payment Methods
Kraken does not publish any information regarding their insurance fund on their website

Insurance

The Crypto Fort Knox

Kraken is one of the few crypto exchanges that have never been hacked. The exchange has established itself as a safe and legit player with high trust and an attractive offering. For investors looking for a solid platform that does the job, Kraken is a great choice. Withdrawal methods on Kraken are limited compared to other exchanges, trading fees are moderate.

Kraken in the CryptoStudio-Check

Overview
Exchange functionalities
Fiat deposits and withdrawals
Security
User Experience

Overview

Platform Score

based on 5 categories

Exchange functionalities

based on 5 criteria

Fiat deposits and withdrawals

based on 5 criteria

Security

based on 5 criteria

User experience

based on 7 criteria

Pros

Live Chat at the Website offers fast and detailed answers

Support

The user interface is well-suited for beginners and advanced traders

User Interface

Officially, Kraken was never hacked

Hacks

Low fiat withdrawal fees

Fees

Insurance fund to protect user funds case of security breaches

Insurance

Comprehensive investor education on Coinbase Learn

Education

Cons

For most fiat currency deposits and withdrawals Kraken only offers bank deposits, no other payment methods available

Payment Methods

Kraken does not publish any information regarding their insurance fund on their website

Insurance

Exchange functionalities

Rating:

Amount of coins/tokens:

62

Trading Fees:

medium

Margin Trading:

Kraken offers their customers to margin trade with a leverage of up to 5x

Lite Trading:

Kraken doesn't offer a lite mode

DCA-Plans:

Kraken does not offer any DCA plans

Attention: Outdated Information!

Fiat deposits and withdrawals

Rating:

Fiat deposit limits:

Daily limit of $100k for intermediate, $10m for pro; monthly limit of 500k for intermediate, $100m for pro

Fiat withdrawal limits:

Daily limit 100,000$ for intermediate, $10m for pro; monthly limit 500k for intermediate, 100m for pro

Withdrawal fees:

low

Payment methods:

Debit card only for Canadian Dollars. Bank deposits (SEPA and wire transfers) are possible for USD, EUR; CAD, GBP, CHF and JPY. Other payment methods are not available

Withdrawal methods:

Only bank withdrawals (SEPA or wire)

Attention: Outdated Information!

Security

Rating:

Security features:

2-factor-authentication, email confirmation for withdrawals, Hardware MFA Key (FIDO U2F Standard) Support

Insurance:

According to Kraken, it holds $100 million (2019) in a self-run insurance fund. USD funds are not FDIC insured

Crypto Storage:

According to Kraken, 95% of assets are stored in cold storage

Company Headquarter:

Kraken is headquartered in San Francisco, USA

Security Hacks:

There are no reports about successful hacks

Attention: Outdated Information!

User Experience

Rating:

User interface:

Kraken offers different user interfaces for beginner and advanced traders. Since Kraken acquired https://cryptowat.ch/de/, the trading interface has improved significantly

Onboarding:

Straightforward via the website or app: no ID needed for the starter account which allows for crypto deposits only with low limits

Mobile/Desktop App:

Standalone mobile app & desktop app are available

Language options:

14 languages, including English

Availability:

Worldwide except the US states of Washington & New York and commonly blacklisted countries

Customer service:

Email support, website chat feature with real employees and queuing feature, FAQ page, fast and detailed answers

Investor Education:

Investor education through articles and videos at Kraken Learn, which explains how the exchange works and provides information on cryptocurrency investing in general

Attention: Outdated Information!

Kraken is suitable for beginners and experienced traders

Kraken is suitable for both beginners and expert traders. It offers different user interfaces for beginners and advanced traders. Beginners can use Kraken Learn to study the exchange functionalities and crypto investing in general. Altogether, Kraken is a well-rounded exchange and a solid choice for every type of investor.