Nowadays, there are several hundred crypto exchanges, all vying for the favor of the market participants. It can sometimes be very tiring to find out which crypto exchange actually suits you. To help you with this decision, the CryptoTicker team has already written several articles about various exchanges. Among all these reviews, one about Kraken should not be missing.
Kraken is one of the most popular crypto exchanges. With currently 55 different cryptocurrencies listed on the platform and trading fees of 0.16% and 0.26% respectively, the Californian company has been able to establish itself as a reliable place to trade cryptocurrencies.
The most important facts & figures about Kraken
In this exchange review, we will highlight the features of Kraken and try to show for whom the exchange is suitable.
What features has Kraken to offer?
Available deposit methods:
Currencies listed on the platform
Cryptocurrencies
FIAT-Currencies
Advantages and disadvantages of Kraken
Pros:
- One of the oldest exchanges on the market
- Comparatively low fees for regular trading
- Trading with leverage of up to 1:5
- High trading volume for every cryptocurrency listed
- Trading pairs against Euro
- Large education section designed to help beginners to learn how to start trading cryptocurrencies
- Cryptowatch (service for professional traders with many tools such as trading on multiple exchanges, real-time data, etc.)
- High returns on staking (0.25% p.a. to 17% p.a.)
Cons:
- No deposit insurance
- Customer service only available in text form (but 24/7 via live chat or alternatively via email)
- User interface could be more intuitive and less convoluted
Fees on Kraken
Fees per trade
Varies, depending on trading volume over the last 30 days
Withdrawal fees
- EUR: €0,09
- USD: min. $4
- CAD: 0,25%
- GBP: £1.95
- AUD: free of charge (only in Australia), otherwise 35 AUD
- CHF: 1 CHF
- JPY: equivalent 35 USD
- varies for cryptocurrencies
Conclusion
All in all, Kraken is recommended for almost everyone. The exchange meets the requirements of regulators in every country where it operates. With the additional features offered, such as staking, margin and futures trading, the platform is set up very widely overall. The somewhat convoluted user interface and the lack of investment protection are a minor drawback for us, but this is not a major issue considering the otherwise very solid offering.
