Kraken Review – Is the Kraken trustworthy? 2022

What is Kraken?

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Kraken has been around for over a decade and is cementing itself as a serious contender for the best crypto exchange 2022. All traders and investors at Kraken will gain instant access to over 200 cryptocurrencies, a database full of educational resources, a dedicated customer support team and some of the finest security around. Want to know if Kraken is the best crypto exchange for you? Read on!

kraken review
Kraken: Pros & Cons
  • Over 200 tradable cryptos
  • Slick user experience
  • Great range of trading tools
  • Max leverage of 5x

What can you trade on Kraken?

When joining Kraken, you can start to learn about over 2000 cryptocurrencies before taking your pick of the top 212. You can invest in Bitcoin, Litecoin, Dash, Cardano, Solana, Ethereum and plenty more.

Kraken user experience

We found Kraken was a joy to use, providing a smooth signup process and an even sweeter investing/trading experience. The blue and white homepage offered us plenty of information about Kraken and we found that all important areas of the site loaded promptly. Support was on hand 24/7, too, meaning any questions we had were dealt with promptly.

Kraken account types

StarterThe base account at Kraken offers crypto deposits, the PRO app and additional security settings.
Express (USA only)Provides users with access to the Kraken mobile app, a £9000 lifetime deposit limit and a £9000 monthly withdrawal limit.
IntermediateOffering traders higher deposit and withdrawal limits, plus on-chain off-chain staking.
ProHighest limits, trading OTC desk, futures, margin and more.

Kraken trading tools

Account ManagementAdvanced traders that reach a certain threshold can experience elite customer support and near real-time input from a dedicated account manager.
Crypto GuidesMake use of various online articles created by the Kraken experts, detailing all sorts of interesting aspects of crypto trading.
Crypto Videos and PodcastsEnjoy podcasts from industry experts and regular video releases focusing on the crypto world.

Kraken review of payments

Before you can buy or trade crypto, a deposit using Visa, Mastercard, Bank Transfer or digital wallet must be completed. For those who already own crypto, you can send funds directly to your Kraken account.

Bank Transfer

Kraken review of fees

Minimum deposit£1 – £150 depending on chosen method
Deposit fee£0-£21
Inactivity feeN/A
Account feeN/A
Maximum leverage1:5
Overnight feeN/A
Minimum withdrawalVaries depending on asset

Kraken customer service

Kraken proudly highlights that they offer 24/7 live chat support; however, if you prefer to talk on the phone, send an email, or scour through some FAQs, you can do that, too!

Is Kraken safe and regulated?

Kraken complies with all legal and regulatory requirements in all areas they operate, including the UK, US and Canada. The site also makes use of 2FA, KYC, SSL encryption and constant, real-time monitoring of all online activity.

CNMV - Comisión Nacional del Mercado de Valores
ASIC - Australian Securities and Investments Commission
FRSA (ADGM) - Financial Regulatory Services Authority Abu Dhabi
FCA - Financial Conduct Authority
FSCA - South African Financial Sector Conduct Authority

Does Kraken have an app?

Yes, Kraken has an impressive app that is fully functional, Both iOS and Android users can download the Kraken app from respective stores and instantly have full control of their accounts on the go.

Kraken Crypto Exchange

Kraken review FAQ

Will I receive a bonus for joining Kraken?

There are no welcome bonuses at Kraken; however, traders can invite friends and redeem a £10 bonus.

How many registered users does Kraken have?

Kraken has over 9 million registered users.

Does Kraken have a rewards program?

Although Kraken does not have a rewards program, rewards (up to 23%) can be obtained by staking your assets.

Kraken review - conclusion

Kraken is a crypto exchange that appeals to all. Regardless of your knowledge, you will be able to make your way through the registration process, research your preferred cryptos and, inevitably, make your first crypto purchase with ease, thanks to the streamlined approach offered at Kraken. Customer support is on standby 24/7, too, should you end up with any questions along the way.

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