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Kraken is one of the longest-running cryptocurrency exchanges in the world, founded in 2011 by Jesse Powell and publicly launched in 2013. With over 15 million users globally, Kraken has evolved from a crypto-only exchange into a full-spectrum financial platform offering spot trading, derivatives, staking, tokenized stocks (xStocks), and commission-free U.S. equities. In this detailed Kraken review for 2026, we cover everything from fees and security to the platform's IPO filing, recent acquisitions, and how it compares to competitors like Coinbase and Binance.
Overall Rating: 4.5/5 ⭐⭐⭐⭐½
| Category | Rating | Summary |
|---|---|---|
| Fees & Pricing | ⭐⭐⭐⭐⭐ 5/5 | 1% instant buy, Pro fees as low as 0% |
| Security | ⭐⭐⭐⭐⭐ 5/5 | 13-year track record, ISO 27001, SOC 2 |
| Ease of Use | ⭐⭐⭐⭐ 4/5 | Good for beginners, Pro for advanced |
| Crypto Selection | ⭐⭐⭐⭐⭐ 5/5 | 550+ cryptos, 1,200+ pairs |
| Staking & Rewards | ⭐⭐⭐⭐ 4/5 | 21 assets, up to 21% APY |
| Customer Support | ⭐⭐⭐⭐⭐ 5/5 | 24/7 phone support (rare!) |
Last updated: February 11, 2026. We independently research all platforms we review.
| Feature | Details |
|---|---|
| Founded | 2011 (launched 2013) |
| Headquarters | United States (Payward, Inc.) |
| Leadership | David Ripley & Arjun Sethi (Co-CEOs); Jesse Powell (Chairman) |
| Cryptocurrencies | 550+ assets, 1,200+ trading pairs |
| Instant Buy Fee | Flat 1% (buy, sell, convert) |
| Kraken Pro Fees | Maker 0.25% / Taker 0.40% (scales to 0.00% / 0.10%) |
| Minimum Trade | $1 |
| Staking | 21+ on-chain assets, up to 21% APY |
| U.S. Stocks & ETFs | 11,000+ commission-free (select U.S. clients) |
| xStocks (Tokenized Equities) | Available in EU/EEA, 24/5 trading |
| Derivatives | Futures, perpetual swaps (up to 10x); CME futures for U.S. users |
| Regulatory Status | SEC case dismissed (2025); MiCA licensed; Wyoming SPDI charter; confidential IPO filing (Nov 2025) |
| Security | ISO 27001, SOC 1 & SOC 2 Type 2, quarterly Proof of Reserves |
| Mobile App | iOS 4.7 / Android 4.1 |
| Customer Support | 24/7 live chat, phone, email; VIP desk for high-volume traders |
What Is Kraken? Company Overview
Kraken is a US-based cryptocurrency exchange operated by Payward, Inc., making it one of the oldest and most established platforms in the digital asset industry. The exchange is now led by co-CEOs David Ripley and Arjun Sethi, with founder Jesse Powell serving as chairman.
In 2025, Kraken reported approximately $412 million in Q2 revenue, an 18% year-over-year increase, along with $80 million in adjusted EBITDA. The company executed two landmark acquisitions that signal its transformation into a multi-asset financial platform:
- NinjaTrader ($1.5 billion, completed May 2025) -- a leading U.S. retail futures trading platform, giving Kraken professional-grade charting, order flow tools, and an established futures brokerage with CFTC registration.
- Small Exchange (announced October 2025) -- a CFTC-regulated futures venue that paves the way for Kraken to offer a fully U.S.-native derivatives platform.
In November 2025, Kraken confidentially filed for an IPO with the SEC, targeting a potential Q1 2026 listing. This would make Kraken one of the largest crypto-native companies to go public, alongside Coinbase, which IPO'd in 2021.
Kraken Fees: How Much Does It Cost to Trade?
Kraken is one of the most competitively priced cryptocurrency exchanges in 2026, offering two distinct fee structures depending on how you trade. The instant buy interface charges a flat 1% fee on all purchases, sales, and conversions, which is transparent and clearly displayed before you confirm any transaction. For active traders, Kraken Pro uses a volume-based maker-taker model with significantly lower rates.
| 30-Day Volume (USD) | Maker Fee | Taker Fee |
|---|---|---|
| $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% | 0.18% |
| $500,001 - $1,000,000 | 0.08% | 0.16% |
| $1,000,001 - $5,000,000 | 0.06% | 0.14% |
| $5,000,001 - $10,000,000 | 0.04% | 0.12% |
| $10,000,001+ | 0.00% | 0.10% |
Margin trading fees: Kraken charges 0.02% to open a margin position and 0.02% as a rollover fee every four hours the position stays open. Bitcoin margin positions are cheaper at 0.01% to open and 0.01% per rollover. These rates are competitive compared to most centralized exchanges.
Deposit and withdrawal fees: Bank transfers via ACH and SEPA are free for deposits. Wire transfers carry small fees depending on the method. Crypto withdrawal fees vary by asset -- for example, Bitcoin withdrawals cost 0.0002 BTC (approximately $17 at current prices), with a minimum withdrawal of 0.005 BTC. These withdrawal minimums can be a drawback for users moving small amounts.
How Kraken Fees Compare to Other Exchanges
| Exchange | Simple Buy Fee | Pro Maker Fee | Pro Taker Fee | Minimum Trade |
|---|---|---|---|---|
| Kraken | 1.00% | 0.25% | 0.40% | $1 |
| Coinbase | ~1.50% | 0.40% | 0.60% | $1 |
| Binance | 0.50% | 0.10% | 0.10% | $1 |
| Gemini | 1.49% | 0.20% | 0.40% | $1 |
| Bybit | Varies | 0.10% | 0.10% | $1 |
Kraken's Pro fees are among the lowest of any major U.S.-regulated exchange. While offshore exchanges like Binance and Bybit offer lower base rates, Kraken provides stronger regulatory protections and fiat banking rails that most offshore platforms cannot match for U.S. and EU customers.
Key Features of Kraken in 2026
Spot and Margin Trading
Kraken offers over 550 cryptocurrencies for spot trading across hundreds of pairs, including USD, EUR, GBP, JPY, and stablecoin quote markets. The Kraken Pro interface provides TradingView-powered charts, multiple order types (market, limit, stop-loss, stop-limit, take-profit, trailing stop, post-only, reduce-only), and modular workspace layouts with near feature parity between web, desktop, and mobile.
Margin trading supports up to 5x leverage on most enabled assets, with select pairs offering up to 10x. Kraken's margin system uses a cross-margin model and requires sufficient collateral to maintain positions, with automatic liquidation if the maintenance margin is breached.
Derivatives: Futures and Perpetual Swaps
Kraken offers perpetual futures contracts on 350+ markets with up to 10x buying power for retail clients outside the U.S. and UK. These are USD-margined linear contracts accessible through Kraken Pro.
For U.S.-based traders, Kraken launched Kraken Derivatives US in July 2025, providing regulated access to CME-listed crypto futures directly within Kraken Pro. Combined with the NinjaTrader acquisition (completed May 2025) and the pending Small Exchange deal, Kraken is building one of the most comprehensive derivatives offerings available to U.S. retail investors.
U.S. Stocks and ETFs (Commission-Free)
In April 2025, Kraken launched commission-free trading on more than 11,000 U.S.-listed stocks and ETFs for eligible U.S. clients. This positions Kraken as a direct competitor to platforms like Robinhood and traditional brokerages, allowing users to manage both crypto and equity portfolios within a single app. Stock trades are executed through regulated broker-dealer infrastructure.
xStocks: Tokenized Equities
For users outside the U.S., Kraken introduced xStocks in July 2025 -- tokenized versions of popular U.S. stocks and ETFs like Apple, Tesla, NVIDIA, and the S&P 500. xStocks trade 24 hours a day, five days a week, can be purchased with as little as $1 (fractional), and can be withdrawn to self-custodial wallets. While xStocks do not confer direct share ownership, they are backed 1:1 by the underlying securities and track real-time prices. This product launched initially in EU/EEA markets in December 2025.
Staking and Earn
Kraken restored on-chain staking in 2025 after suspending it in 2023 following SEC pressure. The platform now supports staking for 21+ assets, including Ethereum (ETH), Polkadot (DOT), Cardano (ADA), Cosmos (ATOM), Solana (SOL), and Tezos (XTZ), with APY rates reaching up to 21% depending on the asset and lock-up period.
Kraken offers both flexible staking (no lock-up, lower yields) and bonded staking (fixed unbonding periods, higher yields). Kraken applies a commission on staking rewards: 15-25% depending on the asset and region. For UK, EEA, Canadian, and Australian clients, the commission is 30% on both flexible and bonded staking. Staking availability varies by jurisdiction -- U.S. staking is limited to certain states.
Kraken Wallet
Kraken Wallet is a free, open-source, self-custodial mobile wallet that supports multiple blockchains including Ethereum, Bitcoin, Solana, Polygon, Optimism, Arbitrum, and Base. It lets users store, send, receive, and interact with DeFi protocols and NFTs without Kraken holding the private keys. The wallet integrates with WalletConnect for dApp connectivity.
Kraken Krak Card
The Kraken card allows users in eligible regions to spend crypto directly from their Kraken balance at merchants that accept card payments. The card instantly converts crypto to fiat at the point of sale. Note that as of early 2026, the card is not available in all regions, and Kraken does not yet offer a crypto debit card in the U.S.
Security: How Safe Is Kraken?
Kraken is one of the most security-focused cryptocurrency exchanges operating today. The platform has never suffered a major security breach since its 2013 launch -- a track record that very few exchanges can match over a 13-year period.
Security Certifications and Practices
- ISO 27001 certified -- the international standard for information security management systems.
- SOC 1 and SOC 2 Type 2 audited -- independently verified controls for data security, availability, and confidentiality.
- Proof of Reserves (PoR) -- Kraken publishes quarterly Proof of Reserves audits covering BTC, ETH, SOL, USDC, USDT, XRP, and ADA (ADA added in March 2025). The most recent audit, completed September 30, 2025, confirmed that client assets are backed 1:1 and beyond.
- Cold storage -- the vast majority of client funds are held in air-gapped cold storage with geographic distribution and multi-signature access controls.
- Two-factor authentication (2FA) -- supported via authenticator apps, hardware security keys (YubiKey), and Kraken's Master Key system for account recovery protection.
- Global Settings Lock (GSL) -- a unique Kraken feature that prevents changes to critical account settings for a configurable waiting period, protecting against unauthorized account takeover.
- Bug bounty program -- ongoing program rewarding security researchers who identify vulnerabilities.
Wyoming SPDI Bank Charter
Kraken holds a Wyoming Special Purpose Depository Institution (SPDI) charter for Kraken Bank (now branded as Kraken Financial), making it one of the few crypto exchanges to hold a U.S. bank charter. This provides additional regulatory oversight and allows Kraken to custody both fiat and digital assets under a banking framework.
Regulatory Status in 2026
Kraken has navigated significant regulatory challenges and emerged in a strong position heading into 2026:
- SEC case dismissed (2025): The SEC dropped its high-profile enforcement action against Kraken, removing a major legal overhang. This followed broader shifts in U.S. regulatory posture toward crypto under new SEC leadership.
- MiCA licensed (EU): Kraken secured Markets in Crypto-Assets (MiCA) licensing for its European operations, along with MiFID and Electronic Money Institution (EMI) licenses.
- Wyoming SPDI charter: Kraken Bank holds a state-chartered banking license, adding a layer of regulatory credibility.
- Confidential IPO filing (November 2025): Kraken filed a confidential S-1 with the SEC, targeting a potential Q1 2026 public listing. An IPO would subject Kraken to full SEC reporting requirements and public financial disclosures.
- Available in 190+ countries: Kraken operates globally, though it is not available in New York or Washington state for U.S. users.
User Experience and Mobile Apps
Kraken provides two primary interfaces: the consumer-facing Kraken app (Buy Crypto & Stocks) for simple buying and selling, and Kraken Pro for advanced trading. Both are available on iOS and Android, as well as web browsers.
The consumer app is clean, intuitive, and suitable for beginners. It supports instant buys with ACH, SEPA, Faster Payments, Apple Pay, Google Pay, and credit/debit cards. The Kraken Pro app provides full-featured TradingView charting, deep order book visualization, advanced order types, and modular workspace layouts that can be customized for different trading strategies.
The mobile apps are well-rated: iOS holds a 4.7 rating and Android a 4.1 rating. Kraken's interface is available in 13 languages, including English, Spanish, German, French, Chinese, Russian, Portuguese, Italian, Turkish, Polish, Vietnamese, Ukrainian, and Dutch.
Customer Support
Kraken offers 24/7 customer support through multiple channels:
- Live chat: Available around the clock through the website and app.
- Phone support: 24/7 multilingual phone support with the option for callbacks during high-volume periods.
- Email support: For less urgent inquiries and detailed account issues.
- VIP account managers: High-volume traders who consistently trade on Kraken can request a dedicated personal account representative via vipdesk@kraken.com.
- Help center: Extensive documentation covering account setup, trading guides, security best practices, and troubleshooting.
In practice, Kraken's customer support is considered above average for the crypto industry. Phone and chat support are accessible without excessive wait times in most cases, though peak periods may involve queues of 15-20 minutes. Kraken holds a Trustpilot rating of approximately 3.4 out of 5, with common complaints centered on withdrawal delays and verification times rather than security issues.
Supported Cryptocurrencies and Trading Pairs
Kraken supports more than 550 cryptocurrencies and over 1,200 trading pairs as of early 2026. The platform lists all major assets including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), XRP, Polkadot (DOT), Avalanche (AVAX), Chainlink (LINK), and Polygon (MATIC), along with a broad selection of mid-cap and newer tokens.
Fiat markets include USD, EUR, GBP, JPY, CAD, AUD, and CHF, giving Kraken one of the most extensive fiat on-ramp selections among major exchanges. Major stablecoin quote pairs (USDT, USDC) are also available across hundreds of markets.
Kraken continuously adds new listings, though it tends to be more selective than some competitors. The exchange evaluates tokens based on security audits, team credibility, regulatory risk, and community adoption before listing.
Kraken Pros and Cons
| Pros | Cons |
|---|---|
| 13-year track record with no major security breaches | Not available in New York or Washington state |
| Low Kraken Pro fees (0.00%-0.40% maker-taker) | Instant buy fee of 1% is higher than some competitors |
| 550+ cryptocurrencies with deep liquidity | BTC withdrawal minimums can be high for small amounts |
| Quarterly Proof of Reserves with ISO 27001 and SOC 2 audits | No crypto debit card in the U.S. |
| 24/7 phone and live chat support | Staking not available in all U.S. states |
| Commission-free U.S. stocks and ETFs | Staking commission of 15-30% on rewards |
| xStocks tokenized equities for EU users | Derivatives access varies significantly by region |
| NinjaTrader acquisition adds pro-grade tools | Advanced features may overwhelm beginners |
| Confidential IPO filing signals financial stability | Wire transfer fees for certain deposit methods |
How Kraken Compares to Alternatives
| Feature | Kraken | Coinbase | Gemini | Crypto.com |
|---|---|---|---|---|
| Cryptocurrencies | 550+ | 250+ | 100+ | 350+ |
| Pro Maker Fee | 0.25% | 0.40% | 0.20% | 0.14% |
| Pro Taker Fee | 0.40% | 0.60% | 0.40% | 0.28% |
| Staking | 21+ coins, up to 21% APY | Limited (ETH, SOL, etc.) | No | Yes, 20+ coins |
| Derivatives | Futures, perps (350+ markets) | Futures (limited) | No | Futures, perps |
| Stock Trading | 11,000+ U.S. stocks/ETFs | No | No | No |
| Proof of Reserves | Quarterly (7 assets) | No | No | Monthly |
| Security Certifications | ISO 27001, SOC 1 & 2 | SOC 1 & 2 | SOC 1 & 2 | ISO 27001 |
| 24/7 Phone Support | Yes | Yes | No | No |
| Bank Charter | Yes (Wyoming SPDI) | No | Yes (NY Trust) | No |
For a deeper comparison, read our Coinbase vs Kraken and Kraken vs Gemini head-to-head reviews.
Who Is Kraken Best For?
Kraken is an excellent choice for several types of users:
- Active and advanced traders: Kraken Pro's low fees, deep order books, TradingView charts, and advanced order types make it ideal for serious traders. The NinjaTrader integration will further enhance professional trading capabilities.
- Security-conscious investors: With ISO 27001, SOC 2 audits, quarterly Proof of Reserves, a 13-year security track record, and a Wyoming bank charter, Kraken offers among the strongest security credentials in the industry.
- Multi-asset investors: Users who want crypto, U.S. stocks, ETFs, and tokenized equities in one platform will find Kraken's expanding product suite compelling.
- International traders: Kraken's support for 7+ fiat currencies, 13 languages, and global availability across 190+ countries makes it one of the most accessible exchanges for non-U.S. users.
- Staking enthusiasts: With 21+ stakeable assets and APY rates up to 21%, Kraken provides solid passive income options for long-term holders.
Kraken may not be the best fit for users in New York or Washington state (not available), complete beginners who find even the consumer app complex, or traders seeking the absolute lowest fees (offshore exchanges like Binance offer lower base rates).
How to Get Started with Kraken
- Create an account: Visit Kraken's website and sign up with your email address. Choose a secure username and password.
- Verify your identity: Complete KYC verification by uploading a government-issued ID and proof of address. Intermediate verification typically takes 1-2 minutes for basic trading; full verification (required for higher limits and fiat funding) may take up to 24 hours.
- Fund your account: Deposit fiat currency via ACH (free, U.S.), SEPA (free, EU), Faster Payments (UK), wire transfer, or card. You can also deposit cryptocurrency from an external wallet.
- Start trading: Use the simple buy interface for straightforward purchases, or switch to Kraken Pro for lower fees and advanced tools.
- Enable security features: Set up 2FA with an authenticator app or hardware key, enable the Global Settings Lock, and consider using the Master Key for account recovery protection.
Frequently Asked Questions
Is Kraken safe and legit?
Kraken is one of the safest cryptocurrency exchanges available. The platform has operated since 2013 with no major security breaches, holds ISO 27001 and SOC 2 Type 2 certifications, publishes quarterly Proof of Reserves audits, and maintains a Wyoming SPDI bank charter. The SEC dismissed its enforcement case against Kraken in 2025, and the company has filed for an IPO, which requires full SEC financial disclosures.
What are Kraken's fees for buying Bitcoin?
Kraken charges a flat 1% fee for instant Bitcoin purchases through the consumer app. On Kraken Pro, fees start at 0.25% (maker) and 0.40% (taker) for the lowest volume tier, scaling down to 0.00% maker and 0.10% taker for traders with over $10 million in 30-day volume. The minimum purchase is $1.
Does Kraken offer staking?
Yes, Kraken offers on-chain staking for 21+ cryptocurrencies including Ethereum, Polkadot, Cardano, Cosmos, Solana, and Tezos, with APY rates up to 21%. Both flexible (no lock-up) and bonded staking options are available. Kraken takes a 15-30% commission on staking rewards depending on the asset and region. Staking availability varies by jurisdiction and is limited in certain U.S. states.
Can I trade stocks on Kraken?
Yes. As of April 2025, eligible U.S. clients can trade more than 11,000 U.S.-listed stocks and ETFs commission-free within the Kraken app. For users in the EU/EEA, Kraken offers xStocks -- tokenized versions of U.S. stocks like Apple, Tesla, and NVIDIA that trade 24/5 and can be purchased from $1.
Is Kraken available in New York?
No. Kraken is not available to residents of New York or Washington state due to state-level regulatory requirements. Users in all other U.S. states can access Kraken, though some features like staking and derivatives may be restricted depending on your state.
How does Kraken compare to Coinbase?
Kraken generally offers lower trading fees (0.25%/0.40% vs 0.40%/0.60% on pro tiers), more cryptocurrencies (550+ vs 250+), stronger security transparency (quarterly Proof of Reserves), and stock trading. Coinbase has a simpler beginner experience, a more established U.S. brand, and is already publicly traded. For a detailed breakdown, see our Coinbase vs Kraken comparison.
Is Kraken going public?
Kraken confidentially filed for an IPO with the SEC in November 2025, targeting a potential Q1 2026 public listing. The exact timing depends on market conditions, regulatory approvals, and the broader crypto market environment. An IPO would make Kraken subject to public financial reporting requirements.
What is Kraken's Proof of Reserves?
Kraken publishes quarterly Proof of Reserves (PoR) audits that cryptographically verify client assets are held 1:1 and beyond. The audits cover BTC, ETH, SOL, USDC, USDT, XRP, and ADA, and are conducted by independent auditors. Users can verify their own account balances are included in the audit through Kraken's PoR portal.
Kraken vs Competitors
| Feature | Kraken | Coinbase | Binance.US | Gemini |
|---|---|---|---|---|
| Best For | Active traders | Beginners | Low fees | Security |
| Instant Buy Fee | 1% | ~2.9% | 0.6% | 1.49% |
| Pro/Advanced Fees | 0.25-0.40% | 0.6-1.2% | 0.1% | 0.25-0.40% |
| Cryptos | 550+ | 200+ | 150+ | 70+ |
| Staking | 21 assets, 21% max | Limited | Yes | Limited |
| Phone Support | Yes (24/7) | Yes | No | No |
| US Stocks | Yes (11,000+) | No | No | No |
| Futures | Yes | Limited | No | No |
Our Take:
- Choose Kraken if: You want low fees, 24/7 phone support, and access to stocks + crypto
- Choose Coinbase if: You're a complete beginner prioritizing simplicity
- Choose Binance.US if: You want the absolute lowest fees (but limited features)
- Choose Gemini if: You want SOC 2 security with a simpler interface
For detailed comparisons, see: Kraken vs Coinbase | Kraken vs Binance
Our Review Methodology
At Bitcompare, we independently research every platform we review. Our Kraken review is based on:
- Fee analysis: We calculated actual trading costs across instant buy and Pro tiers
- Security audit: We verified certifications (ISO 27001, SOC 2), Proof of Reserves, and regulatory status
- Feature testing: We evaluated spot trading, staking, derivatives, and the new stock trading feature
- Support testing: We tested 24/7 phone and chat support response times
- Regulatory review: We tracked the SEC case dismissal, MiCA license, and IPO filing
We update this review quarterly or when significant platform changes occur. Our ratings are independent—we don't accept payment for favorable reviews.
Final Verdict: Kraken Review 2026
Kraken is one of the strongest cryptocurrency exchanges available in 2026, combining a 13-year security track record, competitive fees, deep liquidity, and an expanding product suite that now spans crypto, derivatives, U.S. stocks, and tokenized equities. The platform's quarterly Proof of Reserves, ISO 27001 certification, Wyoming bank charter, and pending IPO filing set it apart from most competitors on transparency and regulatory credibility.
For active traders, Kraken Pro's maker-taker fees (starting at 0.25%/0.40% and scaling to 0.00%/0.10%) are among the most competitive of any U.S.-regulated exchange. The 2025 acquisitions of NinjaTrader and Small Exchange position Kraken to offer institutional-grade derivatives and trading tools that few competitors can match.
The main drawbacks are limited availability in New York and Washington state, higher instant buy fees compared to some offshore exchanges, staking commissions of 15-30%, and region-specific restrictions on derivatives and staking. Despite these limitations, Kraken remains one of the top choices for security-conscious traders, multi-asset investors, and anyone seeking a regulated platform with professional-grade features.
Overall Rating: 4.5 out of 5
Ready to get started? Visit Kraken to create your account today.
