RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

Kraken

Kraken Exchange Review

Centralized

Kraken Exchange Rating Analysis

  • Kraken is the longest-operating crypto exchange, having been founded in 2011 and continued operations to this day, without being hacked or having any major negative events. This track record has made a name for the exchange as one of the most secure places to trade cryptocurrency. Although Kraken has great reputation, it is not perfect: it is notorious for experiencing technical issues, failing to provide service for some of its users at times of heavy market volatility due to a sharp increase in site usage, and taking the site down for an upgrade scheduled for two hours, which went on to last 48 hours. These issues, however, were mainly present up and until mid-2017, and Kraken has since focused on improving the site’s performance and service uptime. Kraken is a very easy-to-use exchange, providing interfaces which cater to new and pro traders alike, and enable them to trade cryptocurrencies against fiat in a fairly easy way – provided they’re willing to undergo mild KYC procedures. The exchange does offer higher trading fees than much of the industry, although they do decrease as the user’s monthly trading volume goes up, all the way to zero fees, and the exchange is more focused on “”heavier”” users, or “”whales””. Kraken does not offer a large amount of cryptocurrencies to trade, namely 20 different coins, but these coins have multiple pairs for each one, mostly BTC, ETH and several fiat pairs, and are very liquid in relation to the rest of the market. They also offer the trading pair USDT/USD. To conclude, Kraken has been tried and tested as a secure place to store cryptocurrencies (provided they must be on a centralized platform) and trade them. We believe Kraken is very fitting and attractive to a certain type of trader which looks for high liquidity and platform security, but might not be for every investor, which sometimes does not care about fiat trading and simply wants to trade more “”exotic”” coins.

    Kraken Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      10939.528 BTC

      • Kraken Total Trading Pairs

        74

        • Kraken Margin Trading

          Yes

          • Kraken Deposit fees

            EUR SEPA Deposit (Free) - EEA countries only USD Bank Wire Deposit ($5 USD) - US only EUR Bank Wire Deposit (€10) - outside US only USD Bank Wire Deposit ($10 USD) - outside US only JPY Bank deposit (Free, ¥5,000 deposit minimum) - Japan only CAD Wire Deposit (Free)

            • Kraken Fiat Deposit

              Yes

              • Accepted Payment Method

                Crypto to Crypto, Crypto to FIAT

                • Kraken Native token

                  No

                  • Native token smart contract

                    N/A

                    • Kraken Trading Markets
                      • Kraken Stablecoins trading

                        Kraken Withdrawals

                        • Daily Withdrawal Limit

                          depending on asset, verification level and residency

                          • Kraken Withdraw fees

                            EUR SEPA Withdrawal (€0.09)
                            EEA countries only USD Bank Wire Withdrawal ($5 USD)
                            US only USD Bank Wire Withdrawal ($60 USD)

                            • Kraken Withdraw fees discount

                              Tier discount
                              Full details here

                              • Proof of Reserves

                                N/A

                                Kraken Overview

                                • Kraken was founded on July 2018, 2011 by Jesse Powell, the current CEO of Kraken. Kraken is a cryptocurrency exchange or digital asset exchange based in the United States with operations in Canada, the European Union (EU), Japan and the US. This crypto-asset platform is owned and operated by Payward, Inc. based in San Francisco, California.

                                  A Kraken review reveals that Kraken provides Bitcoin pricing to the Bloomberg Terminal – a computer software system provided by Bloomberg L.P. Furthermore, Kraken seems to serve the crypto space via 70+ active markets and currency pairs, including trading access to 20+ digital assets (or cryptocurrencies). Digital assets available for trading at Kraken include: Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, Tether, EOS, Stellar, BitcoinSV, Tezos, Ethereum Classic, Cardano, Monero, Zcash, Dash, Qtum, etc.

                                  Kraken provides a proof-of-reserves audit process that makes it possible for users of this digital asset exchange to verify that their Kraken account balances are included in Kraken’s audit. Furthermore, a review of Kraken exchange shows that their mission is to help advance the adoption of cryptocurrency by empowering investors and supporting institutions.

                                  History shows that Kraken struggled during most part of 2017, especially during the 2017 crypto bull market, as a result of performance issues and DDoS attacks. It got so bad that Kraken CEO Jesse Powell had to apologize for the site issues in November 2017, while praising Kraken’s impeccable record.

                                  Kraken acquired Crypto Facilities – a leading and regulated crypto exchange and index provider. This enables Kraken to offer Bitcoin futures trading with leveraging of up to 50x on futures orders.

                                  Though its problems in the past may concern some users, the exchange closed down for a month in January 2018 to update its servers and fix the issues. This shows that Kraken takes any and all issues and complaints very seriously.
                                  Kraken features many unique and exciting functions, such as its “Dark Pool”, futures trading and its use of Kraken API. The Kraken Dark Pool is a feature where traders can conduct trades that are not visible publicly in order books. This allows for a little bit more anonymity than other exchanges.
                                  Kraken is very user-friendly as it is an entry-level exchange. New cryptocurrency investors can start trading here with ease, as fiat currencies are supported. The fiat currencies available on the platform are USD, JPY, CAD, GBP, and EUR. Euro has the largest trading volume on the platform. Though the cryptocurrencies available on the exchange are not necessarily impressive, the most popular ones are available on the platform. These include BTC, BCH, ETH, DASH, LTC, XRP, etc.
                                  The exchange charges different fees for takers and makers. It is known for its relatively low trading fees, which vary between 0% and 0.26%. Takers are generally charged 0.26%, while makers’ fee is 0.16%, though these fees become lower and lower as users’ trading volumes go higher. Maker fees can go as low as 0%, while takers’ can go down to 0.10%. These fees aren’t necessarily very low, as the global industry average is 0.25%. However, it does provide Kraken with significant market appeal.
                                  As Kraken’s story started with CEO Jesse Powell’s aim to create a safer cryptocurrency exchange after seeing the hacking of Mt. Gox, the platform takes security very seriously. Funds are stored offline and the commonly used two-factor authentication system is used. Additionally, the system that is used on the platform enables staff members to only be able to access users’ accounts for data verification and nothing else. The exchange has not suffered from any issues concerning its security, which is most definitely comforting for its users. This is especially impressive when considering the fact that the exchange is one of the very first ones to be established.
                                  One of the disadvantages of Kraken’s security system is that anonymous trading is not allowed. All accounts are verified before they can start trading for maximum security. Accounts and their verifications processes are divided into three: Starter, Intermediate, Pro. Their respective features are explained in detail on their website.

                                  Kraken Exchange Additional Information