The verdict
Best for: SecurityChoose Kraken if…
- You want an exchange that publishes proof-of-reserves.
- You prioritise regulation and compliance.
- You trade derivatives, futures or with margin.
Skip it if…
- You're fee-sensitive — its 0.4% taker fee is higher than the cheapest venues.
Not financial advice. Opening an account through this link supports our testing at no cost to you.
How Kraken scores
How we scored Krakenshow the math ↓
Fees — 6.0/10 × 20%
- ·Spot taker fee of 0.4% is mid-range (0.20–0.40%).
Security — 8.5/10 × 25%
- ·Publishes proof-of-reserves (+2.5).
- ·Majority cold storage (+2).
- ·2FA / hardware-key support (+1.5).
- ·Third-party audits / bug bounty (+1.5).
- ·No unresolved loss-of-funds incident (+1).
Regulation & Trust — 8.0/10 × 25%
- ·Licensed in multiple tier-1 jurisdictions (+4).
- ·Registered across multiple markets (+1.5).
- ·Transparent operating entity / HQ disclosed (+1.5).
- ·Operating 15+ years (+2).
- ·Past, resolved fine/settlement (−1).
Assets & Features — 9.9/10 × 15%
- ·~500 assets — very broad (+5).
- ·7 product features (spot, derivatives, staking, etc.) (+4.9).
UX & Support — 8.0/10 × 15%
- ·Multiple fiat on-ramps — easy funding (+2).
- ·Built-in earn/staking (+1).
- ·Full KYC — compliant onboarding (+1).
Scores come only from verifiable data and this published rubric — never from commissions. Full methodology →
Pros & cons
Pros
- Long operating history (since 2011) with no customer-fund hack
- Strong regulatory standing (MiCA + MiFID) and quarterly proof-of-reserves
- Robust security reputation and high cold-storage ratio
- Reliable fiat rails
Cons (the real ones)
- Base spot fees (0.25%/0.40%) higher than the cheapest competitors
- Instant Buy interface carries markedly higher fees than Kraken Pro
- US staking product was discontinued after SEC settlement
- Fewer speculative altcoins than offshore venues
Fees
| Spot maker | 0.25% |
| Spot taker | 0.4% |
| Fiat on-ramps | bank transfer (SEPA/wire/ACH), credit/debit card, third-party providers |
Fees change often — verified September 2026. Always check the live schedule.
Trading on Kraken? Every trade can be a taxable event. A crypto-tax tool like Koinly auto-imports your history and generates a compliant tax report. Disclosed affiliate link — we only point to tools we'd actually use.
Security
- 2FA (TOTP/hardware key)
- ~95% of funds in cold storage
- quarterly cryptographic proof-of-reserves audits
- no customer-fund hack since 2011 launch
- Global Settlement / master-key security architecture
Regulation & track record
MiCA-authorised in the EU via the Central Bank of Ireland and MiFID-licensed for derivatives via CySEC (Cyprus). Registered as an MSB in the US. In 2023 settled with the SEC for $30M over its US staking-as-a-service product and discontinued that US offering.
Who should NOT use Kraken
- You're fee-sensitive — its 0.4% taker fee is higher than the cheapest venues.
How we make money from this review
Public affiliate/referral program offering a lifetime revenue share on referred users' trading fees (advertised up to ~50% across spot, margin, futures and tokenized products); rates vary by tier and region. This never changes Kraken's score — our rubric is public and ranking follows score order, not commission. See our full disclosure.
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