Kraken is one of the oldest cryptocurrency exchanges still operating, and one of the very few never to have suffered a major platform hack. Founded in 2011 and trading since 2013, it has built a reputation on security, regulation, and competitive professional-grade fees. It is a strong choice for both careful beginners and active traders.
Quick Facts
| Item | Detail |
|---|---|
| Founded | 2011 (Jesse Powell) |
| Headquarters | San Francisco, United States |
| Public company | No (privately held) |
| Assets listed | 200+ cryptocurrencies |
| Availability | 190+ countries (some US states restricted) |
| Best for | Security-focused users and active traders |
Trading Fees
Kraken’s instant-buy option is convenient but expensive. The Kraken Pro interface uses a tiered maker-taker model that is among the most competitive of any regulated exchange. As with Coinbase, the rule is simple: trade through Pro.
| Interface | Maker | Taker |
|---|---|---|
| Instant Buy | Higher fee, ~1.5% effective | |
| Kraken Pro | 0.00% – 0.25% | 0.10% – 0.40% |
Rates are tiered by 30-day volume and may change; check the live fee schedule before trading.
Security and Regulation
Security is Kraken’s headline strength. In over a decade of operation it has never lost customer funds to a platform breach — a record almost no rival can claim. It publishes proof-of-reserves attestations so users can verify the exchange holds their assets, keeps the majority of funds in cold storage, and offers two-factor authentication, global settings locks, and configurable withdrawal controls. Kraken is registered with regulators in multiple jurisdictions.
Key Features
- Kraken Pro — advanced charts, order types and low fees.
- Futures — regulated derivatives trading where available.
- Staking — rewards on a wide range of proof-of-stake assets.
- OTC desk — large-volume trades with dedicated support.
- 24/7 customer support — consistently rated above the industry norm.
Pros and Cons
Pros
- Outstanding security record — never hacked at platform level
- Proof-of-reserves transparency
- Very competitive Kraken Pro fees
- Strong, responsive customer support
Cons
- Instant-buy fees are high
- The Pro interface can intimidate complete beginners
- Some services restricted in certain US states
- Fewer listed assets than offshore exchanges
Who Should Use Kraken
Kraken is ideal for users who put security and transparency first, and for active traders who want low fees on a regulated platform. Complete beginners can start on the simple interface, then move to Kraken Pro as they gain confidence.
Verdict
Kraken combines a spotless security history with low professional fees and strong support. Its only real weaknesses — expensive instant buys and a slightly technical Pro interface — are easy to work around. It is one of the most dependable exchanges available.
The Currency Analytics rating: 4.5 / 5
The Currency Analytics maintains editorial independence. Ratings reflect our own assessment and are not influenced by any exchange. This article is informational and not financial advice.