Overview
Kraken is one of the oldest and most trusted crypto exchanges. It was founded in 2011 by Jesse Powell in San Francisco and opened for trading in 2013, when most of today’s large exchanges did not yet exist. Today it is led by co-CEOs Arjun Sethi and David Ripley, and serves millions of clients in more than 190 countries.
Kraken’s reputation rests on three things:
- Security: its main exchange has never been hacked in more than a decade.
- Regulation: it holds licences and registrations in the US, the EU, the UK, Canada, Australia and other markets.
- Support: 24/7 customer support by live chat, which is still rare among exchanges.
It has fewer coins than Binance or MEXC, and in 2026 its base fees went up, but for many people the trust it has built is worth more than the widest selection.
Kraken in the EU (MiCA)
Kraken received its MiCA licence from the Central Bank of Ireland in 2025 and operates across all 30 countries of the European Economic Area under it. EU users get euro deposits and withdrawals via SEPA, spot trading, staking and other MiCA-compliant products. Kraken also holds an e-money licence and a MiFID licence in the EU, which it uses for derivatives in some countries.
Kraken app vs. Kraken Pro
Kraken has two ways to trade, and choosing the right one makes a big difference in cost.
- Kraken app (simple): buy, sell and convert in a few taps, set recurring buys, and stake. Easy, but you pay a commission of 1% on instant and recurring buys (1.5% on custom orders), plus a spread built into the price, plus any card or payment-method fee.
- Kraken Pro (advanced): a full order book with charts, limit orders, margin and futures. Much cheaper per trade.
Both use the same account and balance. Once you are comfortable placing a limit order, move to Kraken Pro.
What you can do on Kraken
- Spot trading of several hundred coins against USD, EUR, GBP, CAD, AUD and other currencies.
- Staking of coins like ETH, SOL, DOT and ADA, with on-chain rewards (availability depends on your country).
- Margin trading (up to 5x on some pairs) and futures in eligible countries.
- Kraken Wallet: a separate self-custody wallet app, open source.
- Kraken+: a paid membership with zero trading commission on up to $10,000 of monthly volume in the app.
- Tokenized stocks (xStocks) and, after its 2025 acquisition of the US broker NinjaTrader, an expanding offer of traditional trading products in some regions.
Fees
In July 2026, Kraken changed its fee tiers. Your tier now depends on the best of your 30-day trading volume or your assets held on Kraken. The entry tier became more expensive.
| Product | Entry tier (maker / taker) | Notes |
|---|---|---|
| Kraken Pro spot | 0.40% / 0.80% | Falls quickly with volume or assets held |
| Kraken Pro futures | 0.02% / 0.05% | Where available |
| Kraken app instant buy | 1% + spread | 1.5% on custom orders |
| Small balance conversion | 3% flat | Below minimum order size |
Margin positions also pay opening and rollover fees (typically 0.01% to 0.05% every four hours). Deposit and withdrawal fees depend on the currency and method; SEPA euro deposits are usually free or very cheap.
For small accounts, these fees are higher than Binance, Bybit or OKX. Holding a larger balance on Kraken moves you to cheaper tiers without trading more.
Rates at the time of writing (October 2026). Check the official fee schedule before you trade.
Security
Security is Kraken’s strongest argument:
- No major hack of the exchange since launch.
- Proof of Reserves: Kraken was one of the first exchanges to publish reserve audits (since 2014) and lets users verify their own balance.
- Cold storage: the vast majority of client funds are kept offline, in geographically distributed, guarded locations.
- Account protection: 2FA (including hardware keys like YubiKey), Global Settings Lock to stop attackers from changing account settings, withdrawal address locks and a master key for account recovery.
- Bug bounty and an in-house security lab that publishes research on hardware wallet weaknesses.
On the regulatory side, Kraken settled with the US SEC over its staking product in 2023, and a later SEC lawsuit was dismissed in 2025. In November 2025 it said it had confidentially filed for a stock market listing (IPO); reports in 2026 say the timing has been pushed back because of market conditions.
Pros and cons
Pros
- Excellent security record: no exchange hack in over a decade
- MiCA licence (Ireland) and regulation in many major markets
- 24/7 live support
- Kraken Pro offers advanced tools and futures
- Transparent Proof of Reserves since 2014
Cons
- Higher entry-tier fees since July 2026
- The simple app is expensive (1% commission + spread)
- Smaller coin selection than Binance, MEXC or KuCoin
- Few promotions or bonuses
- Some products (staking, futures) vary by country
Kraken vs. alternatives
| Kraken | Coinbase | Binance | Bybit | |
|---|---|---|---|---|
| Founded | 2011 | 2012 | 2017 | 2018 |
| Major exchange hack | Never | Never | 2019 (users covered) | 2025 (users covered) |
| Entry spot fees (pro screen) | 0.40% / 0.80% | 0.25% / 0.50% (EU) | 0.10% / 0.10% | 0.10% / 0.10% |
| MiCA licence (EU) | Yes (Ireland) | Yes (Luxembourg) | No | Yes (Austria) |
Our verdict
Kraken is one of the safest places to buy and hold crypto. Its security record, regulation and 24/7 support make it a very good choice for cautious beginners and long-term investors, especially in Europe.
The weak point is cost. Since July 2026, small accounts pay more than on most rivals, and the simple app is expensive. Use Kraken Pro, place limit orders and avoid card purchases to keep fees down. If low fees and the widest coin list are your priority, look elsewhere; if trust is, Kraken is hard to beat.
This review is for information only and is not financial advice. Crypto is volatile and you can lose money.