Kraken
Founded 2011 by Jesse Powell
One of the oldest and most trusted crypto exchanges — built for security and reliability.
Quick Overview
What is Kraken?
Kraken is one of the oldest and most respected cryptocurrency exchanges in the world, founded in 2011 by Jesse Powell. The story goes that Powell was inspired to create Kraken after visiting the offices of Mt. Gox (then the largest Bitcoin exchange) and being horrified by their lax security practices.
That security-first DNA has defined Kraken ever since. In over 14 years of operation, Kraken has never been hacked — a remarkable achievement in an industry where breaches are common. They were the first exchange to conduct a cryptographically verified Proof of Reserves audit back in 2014, years before it became an industry standard.
Kraken offers a clean, professional trading experience with both a simple buy/sell interface for beginners and Kraken Pro for advanced traders. They support 250+ cryptocurrencies and are available in 190+ countries, including the US — making them one of the best options for American traders.
The exchange is especially strong in staking, offering some of the best yields in the industry (up to 17% APY on certain assets like Polkadot). They also offer margin trading, futures, and an OTC desk for large traders.
Kraken was also selected by the Japanese authorities to help investigate the Mt. Gox collapse in 2014 and helped return funds to creditors — showing the industry's trust in their integrity.
Important to know: Kraken settled with the SEC in 2023 for $30 million regarding their US staking services. As a result, staking is no longer available to US users on Kraken. The exchange continues to operate in the US for trading, and founder Jesse Powell stepped back from day-to-day operations in 2024, with Arjun Sethi taking over as co-CEO.
Kraken Bonuses & Promotions
Current offers available to new and existing users.
Sign-Up Offer
New users may receive fee credits or bonus rewards when completing onboarding tasks.
Varies by region and promotion period. Check current offers.
Referral Program
Earn $10 for each friend who signs up and trades $100+.
Both referrer and referee receive the bonus.
Staking Rewards
Earn up to 12–17% APY on select coins through on-chain staking.
Rates vary by asset. Polkadot and Cosmos offer highest yields.
Fee Tier Upgrades
Trade more, pay less — volume-based fee discounts start at $50K/month.
Eight tiers available, going down to 0.00% maker / 0.10% taker.
Products & Features
Everything Kraken offers — from simple buying to advanced trading.
Spot Trading
Trade 250+ crypto with tight spreads and deep liquidity.
Kraken Pro
Advanced trading interface with charts, order types, and lower fees.
Margin Trading
Leverage up to 5x on spot positions — suitable for experienced traders.
Futures Trading
Crypto futures with up to 50x leverage on major pairs.
Staking
Earn rewards on 20+ coins including DOT, ETH, SOL, and more.
Kraken Wallet
Self-custody mobile wallet for DeFi and full control of your keys.
NFT Marketplace
Buy and sell NFTs with no gas fees — pay directly from your Kraken account.
OTC Desk
Over-the-counter trading for large orders ($100K+) with personalized service.
Institutional Services
Custody, staking, and trading solutions for institutional clients.
Kraken Fees
Spot Maker Fee
0.16%
Standard tier — lower with volume
Spot Taker Fee
0.26%
Standard tier — lower with volume
Instant Buy
1.5%
Quick buy/sell with simple interface
Card Purchase
3.75%
Credit/debit card instant buy
ACH/SEPA Deposit
Free
Bank transfers at zero cost
Wire Withdrawal
$5–$35
Varies by method and currency
Security & Safety
Kraken is widely regarded as one of the most secure exchanges in the world. Founded in 2011, they have never been hacked despite being one of the oldest platforms. They underwent a full Proof of Reserves audit in 2014 — years before it became standard — and maintain military-grade security practices.
Payment Methods
Pros & Cons
Pros
- + One of the oldest (2011) — proven reliability over 14 years
- + Never been hacked — impeccable security record
- + Available in 190+ countries including the US
- + Strong regulatory compliance (FinCEN, FCA, AUSTRAC)
- + Proof of Reserves since 2014 — industry pioneer
- + Excellent staking rewards (up to 17% APY)
- + YubiKey support & Global Settings Lock for max security
- + 24/7 live chat customer support
- + Clean, professional interface
Cons
- − Fees slightly higher than Binance/OKX for small traders
- − Mobile app less polished than Coinbase or Binance
- − Smaller coin selection compared to Binance (250 vs 400+)
- − No copy trading feature
- − Fiat deposit options limited in some countries
- − Staking restricted for US users (settled with SEC in 2023)
- − Advanced interface has a learning curve
Kraken Timeline
Founded by Jesse Powell after visiting Mt. Gox offices and seeing security vulnerabilities firsthand.
Launched publicly. One of the first exchanges to pass independent Proof of Reserves audit.
Became the #1 exchange for EUR/BTC volume. Selected to help investigate the Mt. Gox collapse.
Reached millions of new users during Bitcoin bull run. Revenue exceeded $1B.
Acquired Crypto Facilities (UK-regulated futures platform). Launched futures trading.
Raised $13.8M from Series C at a $10B+ valuation. Considered IPO but postponed.
Settled with SEC for $30M over staking services. Paid OFAC fine. Continued US operations.
Jesse Powell stepped back; new co-CEO Arjun Sethi took over. Launched Kraken Wallet.
Reached 13M+ verified users. Continued to strengthen as a top US-accessible exchange.
Our Verdict
Kraken is a rock-solid exchange that prioritizes security and trust above all else. It's one of the only major exchanges that has never been hacked in over 14 years of operation. While the fees aren't the absolute lowest and the coin selection isn't the biggest, you're getting one of the most trustworthy platforms in crypto. The staking rewards are excellent, the customer support (24/7 live chat) is among the best, and the YubiKey support shows how serious they are about security. If safety is your #1 priority, Kraken is hard to beat.