Kraken: User-friendly Crypto Exchange
Kraken is a reliable crypto exchange with user-friendly interface. It is also among the top crypto exchanges in terms of trade volume. Both the mobile app and desktop platform are easy to use allowing access to over 200 tradable cryptocurrencies. Kraken allows access to spot, margin and futures trading. The security infrastructure that Kraken implemented has helped it meet highest financial security standards, putting it among the list of most secure crypto exchanges.
This platform is good for crypto portfolio development and suited for both beginners and professional traders. Beside trading, it also offers products to earn passive income with crypto.
Pros and Cons
| Pros | Cons |
| Access to over 200 tradable assets | High fees |
| Margin and futures trading | Accepts few fiat currencies |
| User-friendly interface | |
| Extensive educational resources | |
| Crypto staking also available | |
Trade Fees
Kraken Pro charge less fees compared to the normal platform. The fees are based on monthly trade volume. For large-volume traders who do not trade frequently, Kraken suggests the OTC service which is a cost-effective option. Here’s the Kraken Pro fee structure:
| 30-Day Volume (USD) | Maker | Taker |
| $0 – $10,000 | 0.25% | 0.40% |
| $10,001 – $50,000 | 0.20% | 0.35% |
| $50,001 – $100,000 | 0.14% | 0.24% |
| $100,001 – $250,000 | 0.12% | 0.22% |
| $250,001 – $500,000 | 0.10% | 0.20% |
| $500,001 – $1,000,000 | 0.08% | 0.18% |
| $1,000,001 – $2,500,000 | 0.06% | 0.16% |
| $2,500,001 – $5,000,000 | 0.04% | 0.14% |
| $5,000,001 – $10,000,000 | 0.02% | 0.12% |
| $10,000,000+ | 0.00% | 0.10% |
Trading Experience
While beginners can use the simple platform to buy or sell crypto, Kraken Pro is for experienced traders who can use various order types. Kraken Pro has user-friendly interface that provides access to various trading tools like charts and order book system. Users can manage their portfolio and can also view trading data. Kraken gives access to diverse range of order types including limit, market, stop loss, stop loss limit, take profit, take profit limit, trailing stop and iceberg which facilitate traders in specific trade strategies. For example, stop loss order is used to specify a low price at which crypto asset must be sold to prevent further losses in case of a price downfall.
Other Features
An interesting feature is Kraken wallet which is a self-custody wallet. It means, you control the private keys and have complete control over your funds. The multi-chain functionality, access to DeFi apps, and world-class security, make this wallet a great option.
Kraken has also launched its NFT marketplace where users can trade NFTs. There is wide collection of NFTs in various categories. You can also buy decentraland metaverse NFTs from the marketplace. Another great feature is staking service. You can stake various coins to earn interest. Wide range of coins including ETH, DOT, SOL, stablecoins and many more are available. Tether coin has very good APR rate currently on kraken.
Customer Service & Satisfaction
Kraken offers 24/7 customer support through channels including live chat and email. If customers have any issue, they can send message to customer support representative. Additionally, educational material provided by Kraken are also helpful to customers. Many customers have posted reviews about this crypto exchange on G2 which makes Kraken’s overall rating as 4.1 out of 5. Many customers admire availability of diverse range of coins, and also security of the platform. Some customers complain about poor responsiveness on mobile app, and unsatisfactory customer support.
Company Overview
Kraken is one of the earliest crypto exchanges. It is based in US and was founded in 2011 by Jesse Powell, a tech entrepreneur. Kraken specializes in providing spot trading and futures trading services. The company also gained popularity for its robust security measures like cold storage, and security audits. It also diversified to other services like margin trading, staking and NFT trading. Now, Kraken is among the top crypto exchanges in terms of trade volume and user base.