Kraken Pros and Cons Pros: Secure exchange with no hacking incidents Low fees on 76 currency pairs Margin Trading with 5x leverage Access to 25+ exchanges through CryptoWatch Dark pool trading Cryptocurrency derivatives trading and indices Regulated Various deposit options Available as iOS and Android App Cons: Limited/outdated trader educational resources No simulated trading option Digital corporate wallet but no personal wallet service provided Delisted in New York for failure to apply for BitLicense Kraken, one of the first exchanges on the scene in 2013 when only Bitcoin was traded, still calls itself the “bitcoin exchange.” Today with 65 cryptocurrencies and 76 crypto-crypto/fiat pairs currently traded, Kraken has grown into a full-fledged cryptocurrency exchange. Keep reading to know more about the platform. eToro - Our Recommended Crypto Platform Our Rating ASIC, CySEC and FCA regulated - 20 Million Users Worldwide Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort Free Demo Account, Social Trading Community Free Secure Wallet - Unlosable Private Key Staking Rewards for holding ETH, ADA or TRX Copytrade Winning Crypto Traders - 83.7% Average Yearly Profit Buy Crypto 68% of retail investor accounts lose money when trading CFDs with this provider. On this Page:Contents [show] What is Kraken? Kraken is a crypto-to-crypto and fiat-to-crypto exchange developing a safer, fairer trading system with digital ledger technology. The secure exchange has become one of the most popular places to buy cryptocurrency as investors have become more concerned about the increase in cryptocurrency scams and frauds. Like the Coinbase exchange, also based in San Francisco, Kraken launched in the aftermath of the Mt. Gox hacking in 2011 with a vision to build a better crypto exchange. Bitcoin trading was launched in 2013. The bitcoin exchange added the ability to buy Ether in 2015 and quickly became the second largest exchange for trading bitcoin-ether pairs. Kraken contends its transparency, irreversible transactions and programmable enforceable contracts provide more consumer protections to safeguard trader assets than other regulated exchanges. Kraken’s impressive security record is an advantage as it seeks to attract banks, hedge funds, pension funds and other traders with deep pockets to its institutional business. These large traders can now trade directly with each other on Kracken’s new over-the-counter service. The recent acquisition of UK-based Crypto Facilities has added cryptocurrency derivatives and indices – key risk management tools for professional traders. In addition to Bitcoin and Ether, traders can now buy Ripple futures – the top three coins – as well as Litecoin on Kraken. Kraken has a market cap of USD 37 billion and is the 57th largest listed exchange on Coinmarketcap.com How does the Kraken exchange work? Kraken is a centralized cryptocurrency exchange (CEX) seeking to provide the security standards of a decentralized exchange (DEX). Since a DEX does not hold user funds, data or personal information it is less susceptible to hacking. Following the hacking of New Zealand’s Cryptopia, Kraken CEO Jesse Powell has advised traders to store their funds offline in hardware and non-custodial wallets, and to manage their own private keys. Only funds needed for trading should be in a Kraken trading account, advises Powell. If you want to trade fiat currency and withdraw more than $5,000k in crypto daily you will need to provide ID for verification on the Kraken exchange. The exchange is open 24/7. Best Cryptocurrency Exchange in May 2022 Invest$=Paxos StandardPaxos StandardStellarXRPLitecoinEthereumBitcoin CashBitcoinMonaCoinAugurBancor Network TokenGolem Network TokenMakerGnosisAragonBasic Attention TokenStatus Network TokenCrypto.comStorjDecentralandUtrustEnjin CoinChainlinkUSD CoinBitTorrentHedgeTradeQuantMatic NetworkOcean ProtocolAlgorandSwipeOrchid ProtocolMulti Collateral DaiCyberVeinHedera HashgraphUniBrightLoopring0xHiveRevainNervos NetworkSynthetixTetherCompoundCeloKusamaVergeTerraBitcoin GoldSteemKomodoEthereum ClassicZCashVeChainZilliqaTRONTezosSiacoinRavencoinQTUMOntologyOMG NetworkNEONEMMoneroLiskIOTAIOS tokenICON ProjectFantomEOSDogecoinDecredDashCosmosCardanoBitsharesBitcoin SVWavesyearn.financeKyber NetworkPAX GoldKavaBalancerCurve DAO TokenNanoBand ProtocolUMAStoxRENRIF TokenReserve RightsEnergy Web TokenFTX TokenElectroneumCelsius NetworkThorchainAaveSerumSushiBinance CoinHeliumZBChilizElrondAvalancheTomoChainDFI.moneyBitcoin DiamondThetaHuobi TokenBlockstackPolkadotStacksSolaSolanaStratisPlusCoinPolygonMachine Xchange CoinUniswap Protocol TokenHoloWrapped BitcoinThe GraphDaixDai ChainShiba InuSafeMoon1inchThe SandboxAxie Infinity ShardsHoge FinanceAlien WorldsYield Guild GamesAnkr NetworkHydro ProtocolOasis LabsRaydiumIlluviumRender TokenGalaTravalaPancakeSwapEthernity ChainHarmonyiEx.ecNumeraireaelfABBC CoinArdorAmpleforthCrypto.com Chain TokenArweaveWorldwide Asset eXchangeHorizenBytomGatechain TokenJUSTHyperCashNEXOFloki InuRefreshMore Filters1 Providers that match your filtersSort ByRatingRatingPrice1 Providers that match your filters Payment methodsCredit CardGiropayNetellerPaypalSepa TransferSkrillSofortFeaturesInstant VerificationFor BeginnersWallet ServiceMobile AppUsabilityVery GoodGoodAverageBadSupportVery GoodGoodAverageBadFees0 or betterSafety0 or betterCoin selection0 or betterRating0 or betterClear FilterRatingfor $1000 you get0.0329 BTCWhat we likeEasiest to depositMost regulatedCopytrade winning investorsFeesSafetyCoin selectionfor $1000 you get0.0329 BTCBuy CryptoRead Review68% of retail CFD accounts lose money.FeaturesPayment methods Best Kraken alternatives Visit Site68% of retail CFD accounts lose money.Visit SiteAs prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase.Visit Site74% of retail investor accounts lose money when trading CFDs with this provider.Visit SiteThe price and value of any investment in digital asset products can fluctuate.Visit SiteThe traded price of digital tokens can fluctuate greatly within a short period of time.Visit SiteMarket prices for digital tokens can be volatile and highly unpredictable.Visit SiteAs with any asset, the values of digital currencies may fluctuate significantly.Visit SiteThe value of digital currencies can go up or down frequently.Visit Site71% of retail CFD accounts lose money.Rating5.04.94.74.74.64.54.44.34.1Mobile App Rating10/1010/109/109/108/108/109/109/109/10FeaturesMobile AppWalletNumber of Coins13410859223412465215FeesTrading FeesSpreads0.2%Spreads0.1%0.1%0.1%0.1%0.50%SpreadsDeposit FeesN/AN/AN/AN/AN/AN/AN/AN/AN/AWithdrawal Fees$5N/AN/A0.0005 BTCN/AN/AN/AN/AN/AExtrasRegulatedASIC, CySEC, FCAN/ACySECN/AN/AN/AFCAFCACBI, MiFIDMin. Deposit$50N/A100 EURN/AN/A$10$10$2$100Leveraged TradingN/A1-200xN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1 - 30xLatest Prices (per Coin)Bitcoin$30374.69$40377.55$30493.14$30394.43$40391.88$40393.04$40404.41$40416.27$30477.95Ethereum$2107.65$2795.54$2082.83$2069.90$2796.11$2795.55$2797.45$2796.59$2075.59XRP$0.44$0.78$0.43N/A$0.23N/A$0.78$0.30$0.43Tether$1.00N/AN/A$1.00$1.00N/AN/A$1.00N/ALitecoin$71.45$108.99$70.47N/A$109.04N/A$109.10$109.04$70.54Bitcoin Cash$207.36$294.96$206.14N/A$506.41N/A$295.12$295.07$206.03Chainlink$7.70$14.68$7.72N/A$14.26N/A$14.68$14.67$7.82Cardano$0.59$0.83$0.59N/A$0.83N/A$0.83$0.83N/AIOTA$0.40$0.70$0.39$0.39N/A$0.70$1.91$1.91