Kraken Review

Kraken is one of the oldest and most heavily regulated cryptocurrency exchanges, but it is no longer a low cost choice. Its simple buying interface charges a fixed 1% fee and includes a variable spread in the quoted price. Since 9 July 2026, even Kraken Pro starts at 0.40% maker and 0.80% taker for a small user.

This makes Kraken expensive for regular spot trading. Bitvavo starts at 0.15% maker and 0.25% taker and is therefore much cheaper in supported EEA countries. Kraken mainly stands out through international liquidity, professional trading tools, strong security controls and an unusually broad regulatory structure.

Kraken review summary

Kraken launched in 2011 and now offers hundreds of cryptocurrencies, Kraken Pro, spot margin, derivatives, staking and Opt-In Rewards. Euro users can deposit through SEPA and SEPA Instant, while regional options include free and near instant iDEAL deposits in the Netherlands.

Fees are the main drawback. Instant Buy, recurring purchases, selling and converting cost 1% plus a variable spread. On a €1,000 purchase, the fixed fee alone is €10. If the embedded spread were 0.5%, the combined price impact would be about €15. A rough total of 1% to 1.5% is therefore realistic in some cases, but it is not a fixed rate because the spread changes.

Kraken Pro is cheaper than Instant Buy, yet its new schedule is still expensive at the lower tiers. Tier 1 costs 0.40% maker and 0.80% taker. The maker rate only falls to 0.15% at $50,000 in 30 day trading volume or $100,000 in Assets on Platform.

Regulation is a genuine strength. Kraken has two MiCA CASP authorizations and an EMI authorization in Ireland. European derivatives are provided by a MiFID II investment firm licensed by CySEC.

What is Kraken?

Kraken is a crypto exchange founded by Jesse Powell in 2011. It was developed during the period in which the problems at Mt. Gox exposed the operational risks of early exchanges.

The platform grew into an international market for crypto, fiat currency, margin, derivatives and staking. Its official asset list now contains hundreds of cryptocurrencies, although not every asset or service is available in every country.

The old image of a single American company serving every customer is no longer accurate. European users contract with different Kraken entities for crypto services, euro payments, derivatives and additional products.

Kraken licenses in Europe

Kraken uses several regulated European entities:

• Payward Europe Solutions Limited: MiCA CASP authorization from the Central Bank of Ireland for services including custody, exchange, order execution, transfers and portfolio management.
• Payward Global Solutions Limited: a second MiCA CASP authorization for operating the crypto trading platform.
• Payward Ireland Limited: Electronic Money Institution authorization for European payment services and euro balances.
• Payward Europe Digital Solutions (CY) Limited: MiFID II investment firm with CySEC license 342/17 for European investment services and derivatives.

Kraken states that it holds more than 100 active licenses across over 30 countries. Its global regulatory footprint also includes the United Kingdom, United States, Canada and Australia.

Those numbers do not mean that every authorization protects every user or product. European terms explain that staking, Opt-In Rewards and some margin services may be delivered by other entities and do not automatically receive the same regulatory treatment as the core MiCA services.

Crypto balances at Kraken are not covered by a bank deposit guarantee. Regulation therefore does not reimburse market losses, every operational incident or a possible insolvency.

Opening and verifying a Kraken account

Creating an account starts with an email address, password and country of residence. Kraken then asks for identity information and may request an address, tax identification number, intended account use and proof of the source of funds or crypto.

The former Starter, Intermediate and Pro labels are no longer a useful universal summary of verification. Current requirements and limits depend on the country, account type and product.

EEA users who want derivatives need full verification. New users must also complete a knowledge and experience questionnaire and provide a tax identification number.

Kraken Instant Buy fees

Kraken separates simple transactions from trading through the order book.

Instant Buy, recurring purchases, selling and converting carry a fixed 1% trading fee. A spread can also be included in the quoted price. It depends on the asset, order size, payment method and market conditions.

The confirmation screen is therefore the only place where you can see the current total. A 1% fixed fee does not mean the transaction costs exactly 1%. With a 0.5% spread, the total price impact would be about 1.5%.

Kraken+ can waive the fixed fee on eligible transactions up to a monthly limit of $10,000. The spread remains, a subscription fee applies and Kraken+ does not cover Kraken Pro spot, derivatives, API or OTC trading.

Kraken Pro fees

Kraken changed its full spot fee schedule on 9 July 2026. A new or small user now starts at:

• Maker: 0.40%.
• Taker: 0.80%.

The fee tier is based on 30 day Kraken Pro spot volume or Assets on Platform. Kraken applies whichever measure gives the better level.

Rates decline with higher volume or a large platform balance. Most retail users remain near the first levels, where Kraken is considerably more expensive than several European competitors.

The image above shows an archived fee page. The current schedule is shown in our table and in Kraken’s personal fee overview.

Kraken or Bitvavo?

For standard euro spot trading, Bitvavo is generally the cheaper option where its service is available:

Kraken may be more suitable when you need a particular international market, asset, API or professional order type. For ordinary buying and selling in euros, those features rarely offset the fee difference.

Depositing and withdrawing euros

SEPA and SEPA Instant deposits are available to EEA users. The listed standard routes are free at Kraken, start from €1 with some providers and can take from near instant to three business days.

Dutch users can also deposit with iDEAL for free. The minimum is €10 and processing is near instant. iDEAL is a deposit method, not a withdrawal method.

Debit card funding is much more expensive. A euro deposit costs 3.75% plus €0.25. Funding €1,000 therefore costs €37.75 before any crypto purchase has been made. PayPal is also available in supported countries, but the processing fee is displayed in the account and can change.

A SEPA euro withdrawal usually costs €0.90 or €1. Processing ranges from near instant to five business days, depending on the available banking partner.

Assets and Kraken Pro

Kraken supports hundreds of cryptocurrencies and trading pairs in euros, dollars and other currencies. Local availability differs. The current catalogue is far larger than the limited selection described in the old review.

The standard Kraken app focuses on simple buying, selling, converting and recurring purchases. Kraken Pro provides the order book, charts, limit orders, market orders, stop orders, API access and professional portfolio tools.

A market order is normally charged as taker. A limit order that first adds liquidity to the order book may qualify for the maker fee.

Stablecoin and foreign exchange pairs can use different schedules. Always check the rate shown for the selected market.

Margin trading

Eligible Kraken markets offer margin trading with leverage from 2x to 5x. Availability depends on the country, asset and user eligibility.

In addition to the maker or taker fee, users pay an opening fee and recurring rollover fees on the borrowed amount. These rates are dynamic and are shown before the position is opened.

Leverage magnifies both gains and losses. Kraken warns that a loss can exceed the margin used, and a position may be liquidated when its margin level becomes too low.

Kraken Derivatives in the EEA

Kraken offers regulated derivatives through its Cypriot MiFID II entity. EEA users must be fully verified, complete a knowledge questionnaire and supply a tax identification number.

The EEA overview for multi collateral contracts shows maximum leverage of 10x for retail users. Standard derivative fees start at 0.02% maker and 0.05% taker. Funding, liquidation and collateral conversion can add further costs.

Derivatives are not suitable for beginners. A regulated provider does not remove the risk of rapid liquidation.

Staking and Opt-In Rewards

Kraken offers On-chain Staking and Opt-In Rewards as separate products.

Staking uses an asset in a proof of stake network. Opt-In Rewards may pay a return on eligible idle balances in the trading account. Flexible and bonded options can be available.

Availability and displayed APYs change. An APY is not a guaranteed savings rate. European terms also make clear that staking and some Rewards are not covered by the same regulated core services as MiCA crypto services.

Is Kraken safe?

Kraken has a long operating history, broad regulation and a substantial set of account security controls:

• FIDO2 passkeys;
• separate two factor authentication for sign in, trading and funding;
• confirmation for new withdrawal addresses;
• Master Key;
• Global Settings Lock;
• real time monitoring for suspicious activity;
• encryption of sensitive information;
• ISO 27001 certification and a SOC 2 Type 1 examination.

No exchange can guarantee that it will never suffer an incident or that users cannot be affected by phishing and account errors. Enable at least a passkey or authenticator and use Global Settings Lock for sensitive account settings.

Proof of Reserves

Kraken periodically commissions an external Proof of Reserves attestation. The latest public snapshot we checked is dated 31 March 2026.

The published reserve ratios were:

• BTC: 101.6%.
• ETH: 100.9%.
• SOL: 101.1%.
• XRP: 101.3%.
• ADA: 100.1%.
• USDC and USDT: above 105%.

Kraken Pro users can verify whether an eligible balance was included in the attestation. This provides useful transparency for the assets and moment within scope.

Proof of Reserves is not a complete audit of all company liabilities and does not provide insurance or a deposit guarantee. Kraken states that crypto balances held on the exchange are not insured through a deposit insurance program.

Apps and customer support

Kraken has two main apps. The standard Kraken app is simpler, but buying, selling and converting uses the more expensive 1% plus spread structure. Kraken Pro provides the order book and the fee schedule from 0.40% maker and 0.80% taker.

Customer support is available 24/7 through live chat and tickets. Compliance checks, source of funds reviews and withdrawal controls can require additional documents.

Company information

Several companies are relevant to European customers:

• Payward Europe Solutions Limited, Ireland, registration number C468360.
• Payward Global Solutions Limited, Ireland, registration number C559106.
• Payward Ireland Limited, the European Electronic Money Institution.
• Payward Europe Digital Solutions (CY) Limited, CySEC license 342/17.

The contractual company depends on the service. Check the relevant terms and provider before activating a product or visiting Kraken.

Our Kraken review verdict

Kraken has a long track record, professional tools and unusually broad regulation. Two MiCA authorizations, an EMI authorization, a MiFID II license, hundreds of assets, Kraken Pro and strong security controls make it a substantial international platform.

Its fees are the problem. Instant Buy costs 1% plus spread and Kraken Pro begins at 0.40% maker and 0.80% taker. Bitvavo starts at 0.15% and 0.25%, making it clearly cheaper for ordinary euro trading where available.

Kraken remains useful for people who need particular international markets, professional order types, API access or regulated European derivatives. For the average spot user, we do not think those extras justify the large price difference.

Our rating is 3.9 out of 5. Kraken scores well for regulation, security and features, but loses substantial points for price and complexity.