Kraken is a cryptocurrency exchange where you can buy and sell assets such as Bitcoin and Ethereum. Kraken is one of the oldest Bitcoin exchanges and supports more than 120 different coins to buy, sell, and trade with competitive exchange fees. It’s notable for supporting both spot trading at current market rates and cryptocurrency futures. Kraken is a good choice for new and existing cryptocurrency investors and traders looking for low trading fees and access to a wide array of coins.
- More than 120 coins supported
- Simple user interface
- High liquidity exchange
- Higher fees when not using Kraken Pro
- Some users report losses due to hacks
Kraken is a major cryptocurrency exchange that makes it easy to buy, sell, and exchange a long list of dozens of different cryptocurrencies including market leaders Bitcoin and Ethereum. In addition to buying and selling crypto at market rates, Kraken offers users margin accounts and futures trading, riskier products useful for some trading strategies. The easiest place for new crypto investors to start in the Kraken ecosystem is the main Kraken platform. More experienced traders, even outside of cryptocurrency, may prefer the lower-cost active trading platform Kraken Pro. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Company Overview Kraken is a crypto exchange founded in 2011 in San Francisco with offices around the world. It supports customers in most countries of the world including the United States. Kraken supports individual and institutional investors with competitively priced cryptocurrency trading. Beginners will do best with the main Kraken platform, while advanced and expert crypto enthusiasts may prefer Kraken Pro and the advanced margin and futures features. Beginners and advanced users alike can also earn interest rewards via coin staking. The combination of platforms and services makes it likely that Kraken can handle your cryptocurrency needs. Cryptocurrencies Available on Kraken Kraken supports over 110 cryptocurrencies, including popular ones such as: Bitcoin (BTC) Ethereum (ETH) Cardano (ADA) Dogecoin (DOGE) Litecoin (LTC) Polkadot (DOT) Polygon (MATIC) Ripple (XRP) Stellar Lumens (XLM) Solana (SOL) Sushi (SUSHI) Uniswap (UNI) Kraken also supports a handful of stablecoins including Tether, USD Coin, and Dai. You can even convert US dollars into Canadian dollars, Japanese yen, and Swiss francs if you want. Note that not all currencies are available in every country. Trading Experience Kraken offers two trading platforms to users, Kraken and Kraken Pro. Kraken Pro offers lower pricing and is available to anyone with a Kraken account. Depending on your cryptocurrency and active market trading experience, you may prefer Kraken or Kraken Pro. In either case, there’s a platform suitable for anyone from beginners to experts. Kraken Beginners are best off starting with the central Kraken platform. With a verified account, you can quickly buy cryptocurrency from a linked bank account, and it’s just as easy to sell or convert between currencies in your account. Once your account is created and you’ve logged in, it only takes a few seconds to enter an order using a straightforward form.