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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.
Pros
- More than 120 coins supported
- Simple user interface
- High liquidity exchange
Cons
- Higher fees when not using Kraken Pro
- Some users report losses due to hacks
Kraken
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.
Good platform with a beautiful design and a wide range of services within the framework of cryptocurrency trading. Beginners can get by with the main Kraken platform, while advanced and expert crypto enthusiasts may prefer Kraken Pro and the advanced margin and futures features.
Stay away… Poor customer support and exchange fees are ridiculously high
I bought a subscription and installed their Magento extension, it seems the extension worked for media and skin images, but not at all for product images. I tried to reach the support team, but they are extremely slow and haven’t went back with a solution. So at the moment im paying for nothing
I have bought crypto on almost every exchange at this point and Kraken has the lowest fees, and it really seems like everything they do is on chain.
If you want to transfer your eth out, its about 5 minutes. If you do this on some other sites it can be like 3 days.
I think under the hood they are they are actually holding your crypto and they have the lowest fees. Setting up will be a pain but its been totally worth it and is the only exchange I use.
I bought Kraken.io plan, for optimizing images so they would live up to Google Pagespeed Insights requirements. First of all – they don’t, by using their lowest quality pre-setup. (haven’t tested with expert settings. yet).
I write to support 4-5 times through their chat support, because that is the only place you can contact them??! About optimizing images so they live up to Pagespeed Insights compressing requirements – after 4-5 days, still no answer.
So don’t expect any support from them – totally unserious.
/Lars
Decent overall. Interface is not the easiest but once you it can be managed. Fees are not the best. Customer support takes a bit. But at least they don’t play with your money.
Kraken Kraken Kraken, I have been with them for a year and really enjoyed them until they closed my account and told me that they cannot tell me why. It is like getting slapped on the face with no explanation. They did however allow me to take my funds out. This is not good for customer experince.
I would never ever recommend this company to anyone. Their customer service is terrible
Without one word of explanation I was instructed to sell all of my crypto and liquidate my USD within 72 hours of the email I received. I was not allowed to transfer the BTC to my trading account. I had to realize a loss on BTC in order to comply. A frustrating experience is an understatement. Be advised you may suffer financially if you do business with Kraken.
It really i the only exchange that i trust until after being scammed by all the others , even coinbase
Kraken I’m still waiting for any answer or solution.
November 1st 2021 I tried to make a withdrawal, 3.631,90553100 usdt, you put it on hold, now doesn’t even display on my transaction history, I’ve called and messaged a lot of times, and still no one reach me, what do I do, I need the money to feed my family, I sent you all what you required, my passport and stuff 106 days ago, you told me that you would answer me in 48 hours and have passed 2.554 hours ! I need help!
Ticket 6668223
They put my deposit on hold for 7 weeks and everytime I ask what’s going on they tell me to wait and someone will get back to my via email!
Scam!
Excellent for SEPA transfert, 0 fees very fast
Trading app could be better
Average service. slow customer service. lack of communication
Well I thought I was going to come on here and shake things up a little bit but it seems they have a reputation for screwing people over so I guess I’m just another one on this bandwagon I’d already made a deposit and withdrawal as a matter of two of them through this site before I purchase crypto through them and had to wait 72 freaking hours for a $30 purchase who buys $30 worth of crypto to hold it forever no I bought it to move it instantly and 72 freaking hours is what they decided to hold it for and didn’t tell me until after the purchase was complete so just like the rest of these reviews avoid this place
I’ve used several crypto exchanges and this one by far is the best. Their customer service is quick and thorough, you just need to get the right one. If someone blows you off, contact again or call. Has always worked for me. I’ve contacted them on numerous occasions, like a lot actually. I may not have liked the answer I was given, but it wasn’t their fault and the matter has always been resolved.
Their prices are fare, I’d say the best. The site is easy to navigate and understand. The app is good to find out what you bought or sold at or look up pricing etc but I wouldn’t use it to trade.
But the best part and I wish I could give 10 stars is on 11/10/22 around 2pm ish I withdraw $316 from their exchange to my bank. That evening the deposit was in my account with no fees. eBay doesn’t pay me that quick, nothing does.
So ya, seriously shocked and grateful. I’m sticking with these guys for sure.