Kraken review 2019

Is Kraken a good exchange?

Cryptocurrency traders, looking for a variety of trading options with a low fee, may find Kraken to be a good choice.

Deposit fees

Withdrawal fees

Trading commission

Accepting US citizens

EEA countries SEPA deposit $0 US clients bank wire $5 Outside of US bank wire €10 or $10 Japan clients bank ¥0, deposit minimum ¥5,000 deposit minimum Canadian bank wire $0
Cryptocurrency fees vary EEA countries SEPA Withdrawal €0.09 US only bank wire $5 USD Outside of US bank wire $60 or €60 Japan bank withdrawal ¥20 Canadian EFT withdrawal $10
Volume-based commission from 0.00% to 0.36% Maker 0.00 to 0.08% Taker
Yes

Kraken is one of the oldest cryptocurrency exchanges in the world. It's based in the US and it's regulated by banks in Europe. You can freely deposit fiat currencies USD, EUR, JPY and CAD with minimal or no fees, and you can make withdrawals in the same currencies. However, you'll need to verify your account first, which may take up to five days.

Trading fees with this exchange are based on volume — the more you trade, the less you'll pay. But the 0% fees are usually reserved for those who trade more than $10 million in volume per month.

Is Kraken secure?

This is one of the safest cryptocurrency exchanges. You can rest assured that your deposits are kept in cold wallets, which are also encrypted. For your account protection, you can set up 2-factor authentication or use a hardware key.

What kind of platforms does Kraken offer?

Kraken offers a simple web-based trading platform and a more robust Kraken Pro platform, which comes with charting tools and market depth. You can also use TradingView charts to monitor trading pairs.

Standout features

  • No deposit fees. Some deposit options, like the SEPA transfer, the Japanese and Canadian bank wires come with $0 fees.
  • Low withdrawal fees. SEPA withdrawal costs €0.09.
  • Low transaction fees. Fees come as low as 0% for the highest volume traders.
  • Low withdrawal fees. Kraken lets you trade on margin by holding a collateral currency. These can be either select cryptocurrencies or fiat currencies.

Watch out

  • Verification required.To make fiat currency withdrawals and deposits, you need to verify your account with government-issued documents.

What can I trade with Kraken?

  • Cryptocurrencies

How do I signup with Kraken?

  1. Go to the Kraken website.
  2. Click Create account
  3. Enter email, username and password.
  4. Verify your account.
  5. Deposit funds.

Bottom line

Kraken may be a good choice to all cryptocurrency traders who want to deposit and withdraw fiat currencies with low fees.