Kraken Review

Kraken fees: Instant Buy vs Kraken Pro

Kraken prices its two ways of buying differently. Instant Buy charges a percentage fee (or up to $2 on small trades) and includes a spread; Kraken Pro uses maker and taker fees that fall with volume. Kraken’s own pages do not agree on the Pro starting rate, so check the fee table for your country and the order screen before you trade.

• Instant Buy1%fee on instant and recurring tradesKraken’s fee schedule lists a 1% fee on instant and recurring trades and 1.5% on custom orders; small instant trades carry a fee of up to $2 instead of the 1%. Trading fees are waived for Kraken+ members on up to $10,000 a month. The price includes a spread, and payment-method fees may apply. Kraken does not publish the size threshold for a “small” trade.3 sources
• Kraken ProSources conflictKraken’s UK and Brazil fee tables show a first spot tier of 0.40% maker / 0.80% taker, falling with volume to 0.00% / 0.05%. Another Kraken page says Pro fees start at 0.25% / 0.40%. We have not confirmed which applies to your country, pair and account.3 sources
• Crypto withdrawalsCrypto withdrawal fees and minimums vary by asset and network; Kraken lists them per asset.1 source

To compare like for like, read maker vs taker fees explained and how to compare crypto trading fees.

Features

What Kraken offers and what it takes to open an account, from its own help pages.

• AppsKraken lists separate apps on the App Store and Google Play: Kraken for quick buying and trading, and Kraken Pro for advanced trading. Kraken Desktop runs on Windows, macOS and Linux.1 source
• Instant Buy and Kraken ProKraken offers Instant Buy for simple purchases and Kraken Pro for order-book spot trading. The two have different pricing; the Instant Buy fee is not the Pro maker/taker rate.2 sources
• VerificationOpening an account requires identity verification: personal details and a valid ID, plus proof of address and a face photo in some cases; requirements depend on your country of residence.1 source

Is Kraken safe? Security disclosures and proof of reserves

Safety on an exchange has two sides: what the company protects, and what you protect. Here is what Kraken documents, including its limits.

• CustodyKraken says it uses cold storage and hot wallets to protect client funds, with its crypto infrastructure in secured cages watched 24/7 by armed guards, alarms and video. Its security page does not say what share of assets is held in cold storage.1 source
• CertificationsKraken says sensitive account data is encrypted at rest and in transit, that it holds ISO/IEC 27001 certification and has completed a SOC 2 Type 1 audit, and that an in-house team tests its own systems alongside the public bug bounty programme.1 source
• Security disclosureKraken runs a bug bounty programme. On 19 June 2024 it said it had patched an isolated deposit bug and that no client assets were impacted (Kraken’s own statement).1 source
• Proof of reservesKraken describes proof-of-reserves checks carried out by an independent accounting firm under agreed-upon procedures (post of November 2022). A reserves check is a point-in-time snapshot, not a guarantee of solvency.1 source
• Two-factor authenticationKraken supports two 2FA methods: passkeys (FIDO2: a hardware security key, a cross-device passkey or a passkey tied to one browser), which it recommends because they resist phishing, and authenticator apps, whose codes Kraken warns can be phished or exposed if synced to a compromised cloud account. Sign-in, Master Key, funding and trading each have their own 2FA, set up separately. Kraken says it offers no phone or SMS account recovery.2 sources
• Master KeyThe Master Key is needed if you lose sign-in 2FA, reset your password or want to remove the Global Settings Lock at once. Kraken advises keeping it on a different device from your sign-in 2FA, for example a hardware security key.1 source
• Global Settings Lock24 hoursminimum to unlock without the Master KeyThe optional Global Settings Lock blocks changes to the account and hides sensitive account information, as a last line of defence if your password and sign-in 2FA are compromised. Unlocking it without a Master Key takes at least 24 hours and up to 30 days, depending on your setting, and Kraken emails you about any unlock attempt.1 source
• Withdrawal addressesKraken lists email confirmation for adding new withdrawal addresses, API keys with custom permissions and a configurable account timeout among its account security features.1 source

No exchange is risk-free. Two-factor authentication, a unique password and care with support “callbacks” matter as much as the company’s controls.

Full breakdown: Is Kraken safe? covers cold storage, account protection, scams and regulation by country.

Kraken by country: US, UK, Canada and Brazil

Kraken works through a different local company in each market, with its own onboarding rules and cash options. Being offered in a country does not mean every person, state or product is eligible.

Editorial verdict

Our verdict will say who Kraken may suit, who it may not, and why. A commercial relationship never determines the verdict. It will be added after an editor reviews this research.