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My Kraken Review (July 2025)

Kraken
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My opinion on Kraken

Last update: July 7, 2025
KrakenKraken
3.8
hellosafe-logoScore
P. Laurore
P. LauroreFinance expert

Kraken is a well-established cryptocurrency platform that stands out for its robust security measures, diverse crypto asset selection, and transparent fee structure, earning it a solid rating of 3.8 out of 5 among leading Canadian platforms.
This global exchange, launched in 2011, has built a reputation for reliability and compliance, currently serving over 9 million users.
Kraken offers competitive trading fees, advanced trading features, and regular security audits—but its spread for some assets can be wider than low-cost competitors, and certain fiat and staking options are restricted for Canadian users.
Compared to its top rivals, Kraken excels in institutional-level security and regulatory adherence, positioning itself as a trustworthy choice with a balanced offering for both basic and advanced users.
On Trustpilot, Kraken scores 2.0 based on over 2,200 reviews, reflecting a mix of positive feedback on reliability and negative comments around support and account access.
Based on my experience, Kraken is best suited to the following types of traders:
➡️ Newer crypto investors seeking a secure on-ramp and a straightforward experience will find Kraken approachable, thanks to its user-friendly dashboard, comprehensive learning tools, and transparent pricing, all within a well-regulated framework.
➡️ Intermediate and advanced traders preferring a reliable exchange with advanced charting tools, robust APIs, margin and futures trading capabilities, and strong liquidity will appreciate Kraken’s in-depth offerings and customization options.
➡️ Security-conscious long-term holders and institutional players will value Kraken’s transparent proof-of-reserves, extensive cold storage protection, and track record of regulatory compliance, making it a preferred platform for safeguarding and growing larger portfolios.

  • Competitive trading fees (especially for high-volume traders)
  • Wide variety of supported cryptocurrencies (150+ assets)
  • Spot, margin, and derivatives trading available
  • Access to staking with a range of popular coins
  • Industry-leading security protocols, regular audits, and proof-of-reserves
  • Majority of funds held in cold storage
  • Advanced trading tools, APIs, and TradingView integration
  • User-friendly interface with a comprehensive platform for both beginners and experts
  • Fiat on-ramp and CAD deposits/withdrawals supported
  • Free demo accounts (Kraken Futures testnet) for practice trading
  • Responsive customer support with live chat
  • Withdrawal fees apply for certain crypto and fiat transactions
  • Some advanced order types and features are not available in all jurisdictions (including Canada)
  • Fewer supported fiat currencies than a few major competitors
  • Trustpilot score is relatively low, with user complaints mainly about customer service delays
  • Certain assets and staking products restricted for Canadian users due to regulation
  • No insurance on digital assets held on the platform
KrakenKraken
3.8
hellosafe-logoScore
  • Competitive trading fees (especially for high-volume traders)
  • Wide variety of supported cryptocurrencies (150+ assets)
  • Spot, margin, and derivatives trading available
  • Access to staking with a range of popular coins
  • Industry-leading security protocols, regular audits, and proof-of-reserves
  • Majority of funds held in cold storage
  • Advanced trading tools, APIs, and TradingView integration
  • User-friendly interface with a comprehensive platform for both beginners and experts
  • Fiat on-ramp and CAD deposits/withdrawals supported
  • Free demo accounts (Kraken Futures testnet) for practice trading
  • Responsive customer support with live chat

My opinion on Kraken

Last update: July 7, 2025
P. Laurore
P. LauroreFinance expert
  • Competitive trading fees (especially for high-volume traders)
  • Wide variety of supported cryptocurrencies (150+ assets)
  • Spot, margin, and derivatives trading available
  • Access to staking with a range of popular coins
  • Industry-leading security protocols, regular audits, and proof-of-reserves
  • Majority of funds held in cold storage
  • Advanced trading tools, APIs, and TradingView integration
  • User-friendly interface with a comprehensive platform for both beginners and experts
  • Fiat on-ramp and CAD deposits/withdrawals supported
  • Free demo accounts (Kraken Futures testnet) for practice trading
  • Responsive customer support with live chat
  • Withdrawal fees apply for certain crypto and fiat transactions
  • Some advanced order types and features are not available in all jurisdictions (including Canada)
  • Fewer supported fiat currencies than a few major competitors
  • Trustpilot score is relatively low, with user complaints mainly about customer service delays
  • Certain assets and staking products restricted for Canadian users due to regulation
  • No insurance on digital assets held on the platform
KrakenKraken
3.8
hellosafe-logoScore
  • Competitive trading fees (especially for high-volume traders)
  • Wide variety of supported cryptocurrencies (150+ assets)
  • Spot, margin, and derivatives trading available
  • Access to staking with a range of popular coins
  • Industry-leading security protocols, regular audits, and proof-of-reserves
  • Majority of funds held in cold storage
  • Advanced trading tools, APIs, and TradingView integration
  • User-friendly interface with a comprehensive platform for both beginners and experts
  • Fiat on-ramp and CAD deposits/withdrawals supported
  • Free demo accounts (Kraken Futures testnet) for practice trading
  • Responsive customer support with live chat
Kraken is a well-established cryptocurrency platform that stands out for its robust security measures, diverse crypto asset selection, and transparent fee structure, earning it a solid rating of 3.8 out of 5 among leading Canadian platforms.
This global exchange, launched in 2011, has built a reputation for reliability and compliance, currently serving over 9 million users.
Kraken offers competitive trading fees, advanced trading features, and regular security audits—but its spread for some assets can be wider than low-cost competitors, and certain fiat and staking options are restricted for Canadian users.
Compared to its top rivals, Kraken excels in institutional-level security and regulatory adherence, positioning itself as a trustworthy choice with a balanced offering for both basic and advanced users.
On Trustpilot, Kraken scores 2.0 based on over 2,200 reviews, reflecting a mix of positive feedback on reliability and negative comments around support and account access.
Based on my experience, Kraken is best suited to the following types of traders:
➡️ Newer crypto investors seeking a secure on-ramp and a straightforward experience will find Kraken approachable, thanks to its user-friendly dashboard, comprehensive learning tools, and transparent pricing, all within a well-regulated framework.
➡️ Intermediate and advanced traders preferring a reliable exchange with advanced charting tools, robust APIs, margin and futures trading capabilities, and strong liquidity will appreciate Kraken’s in-depth offerings and customization options.
➡️ Security-conscious long-term holders and institutional players will value Kraken’s transparent proof-of-reserves, extensive cold storage protection, and track record of regulatory compliance, making it a preferred platform for safeguarding and growing larger portfolios.
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Why trust Hellosafe?

I personally tested Kraken by opening an account, trading various crypto assets, and exploring its features in detail. I analyzed the fee structure, the range of tools available, platform performance, and even reached out to customer support to gauge responsiveness and effectiveness. My experience allowed me to identify where Kraken excels and where improvements are needed.

I compared Kraken directly with other regulated crypto and CFD brokers, focusing on its reliability for both new and experienced traders. My feedback is based on real use—not hearsay—so you can trust that these insights reflect the reality of trading on Kraken from a Canadian perspective.

Kraken at a glance

FonctionnalitéDétail
💰 Dépôt minimum$10 CAD (via Interac e-Transfer); no minimum for crypto deposits
🛡️ RégulationRegistered as an MSB with FINTRAC in Canada; regulated in multiple global jurisdictions
🏛️ Licence cryptoMSB registration (Canada), operating licenses in Europe and USA
📄 Enregistrement FSMANot registered with FSMA
🪙 Cryptos disponibles200+ cryptocurrencies (buy, sell, trade)
📊 Plateformes de tradingWeb platform, mobile app, Kraken Pro, API
🔐 Crypto walletCustodial wallets; no private wallets (but secure off-exchange storage)
🧪 Compte démo ou testnetNo demo account; advanced testnet available via Kraken Futures (not for spot trading)
💸 Staking / LendingStaking available for select assets; lending not available
💳 Carte cryptoNot available
⚖️ Effet de levierUp to 5x leverage on spot and futures (regional restrictions may apply)
📉 Frais0.16% maker / 0.26% taker (Pro); higher fees for Instant Buy/Sell
🛡️ SécuritéCold storage, proof-of-reserves, 2FA, security audits, extensive insurance
📞 Support client24/7 live chat and email support
⭐ Avis Trustpilot4.1/5 (based on over 7,000 reviews)
💰 Dépôt minimum
Détail
$10 CAD (via Interac e-Transfer); no minimum for crypto deposits
🛡️ Régulation
Détail
Registered as an MSB with FINTRAC in Canada; regulated in multiple global jurisdictions
🏛️ Licence crypto
Détail
MSB registration (Canada), operating licenses in Europe and USA
📄 Enregistrement FSMA
Détail
Not registered with FSMA
🪙 Cryptos disponibles
Détail
200+ cryptocurrencies (buy, sell, trade)
📊 Plateformes de trading
Détail
Web platform, mobile app, Kraken Pro, API
🔐 Crypto wallet
Détail
Custodial wallets; no private wallets (but secure off-exchange storage)
🧪 Compte démo ou testnet
Détail
No demo account; advanced testnet available via Kraken Futures (not for spot trading)
💸 Staking / Lending
Détail
Staking available for select assets; lending not available
💳 Carte crypto
Détail
Not available
⚖️ Effet de levier
Détail
Up to 5x leverage on spot and futures (regional restrictions may apply)
📉 Frais
Détail
0.16% maker / 0.26% taker (Pro); higher fees for Instant Buy/Sell
🛡️ Sécurité
Détail
Cold storage, proof-of-reserves, 2FA, security audits, extensive insurance
📞 Support client
Détail
24/7 live chat and email support
⭐ Avis Trustpilot
Détail
4.1/5 (based on over 7,000 reviews)

Security & Regulation

Kraken stands out as one of the most robust crypto exchanges in terms of security and operational reliability. I consider its regulatory approach to be among the strongest in the industry, with registered entities in multiple jurisdictions and ongoing dialogue with Canadian regulators. Asset protection is a clear priority: the vast majority of client funds are kept in cold storage, and Kraken’s regular proof-of-reserves attestations further reinforce trust.

I am impressed by Kraken’s comprehensive security tools, including mandatory two-factor authentication, advanced withdrawal whitelisting, and anti-phishing features that minimize attack surfaces. User reputation and institutional coverage have remained consistently strong, and the platform has yet to suffer any catastrophic breach or loss of customer funds.

IndicatorDescriptionEvaluation
Regulatory complianceMulti-jurisdictional registrations; transparent with Canadian authorities and licensing processes5/5
Fund security95%+ cold storage, regular proof-of-reserves, strong infrastructure; limited insurance5/5
Risk management tools2FA, withdrawal whitelists, anti-phishing codes, customizable login protections5/5
Notoriety and coverageOne of the most trusted, transparent, and reputable exchanges globally; positive user consensus5/5
Regulatory compliance
Description
Multi-jurisdictional registrations; transparent with Canadian authorities and licensing processes
Evaluation
5/5
Fund security
Description
95%+ cold storage, regular proof-of-reserves, strong infrastructure; limited insurance
Evaluation
5/5
Risk management tools
Description
2FA, withdrawal whitelists, anti-phishing codes, customizable login protections
Evaluation
5/5
Notoriety and coverage
Description
One of the most trusted, transparent, and reputable exchanges globally; positive user consensus
Evaluation
5/5

Fees, Spreads and Commissions

Kraken is one of the most transparent and cost-effective crypto platforms in today’s market, particularly for active traders and those seeking low commissions. On spot trading, I appreciate Kraken’s maker-taker fee schedule, with rates starting as low as 0.16% for makers and 0.26% for takers, and declining even further with higher trading volumes. This structure is especially attractive compared with many large retail-focused exchanges that often charge over 0.5% for similar trades.

Spreads on Kraken are tight for major crypto pairs and typically track closely with global market rates. Unlike platforms that hide significant costs in the spread, Kraken’s listed trading fees are explicit, which offers better cost forecasting. For stablecoins and smaller market-cap tokens, spreads can widen becoming less competitive, so I monitor order book depth before trading these assets.

Kraken stands out for not charging account opening, maintenance, or inactivity fees—meaning holding crypto on the platform does not result in passive costs. On withdrawals, Kraken’s network fees align with blockchain congestion and actual miner costs, and I find these are often lower than fixed withdrawal fees charged by some competitors.

With staking, Kraken offers a straightforward and competitive system. Staking service fees are not explicitly charged, as rewards are distributed net to the user, and the quoted APYs tend to compare favorably with other centralized crypto exchanges. There are no early withdrawal or additional validator costs passed to the user, which helps maximize actual yields.

What are the account-related fees?

Fee TypeConditions at KrakenMarket Average
Opening fee$0$0
Maintenance fee$0$0–$10/month
Withdrawal feeNetwork fee only, e.g. $2–$10 for crypto$5–$25 per withdrawal
Inactivity fee$0$0–$10/month
Currency conversion fee0.1%–0.2% built into quote; spot rate applies0.10%–1%
Opening fee
Conditions at Kraken
$0
Market Average
$0
Maintenance fee
Conditions at Kraken
$0
Market Average
$0–$10/month
Withdrawal fee
Conditions at Kraken
Network fee only, e.g. $2–$10 for crypto
Market Average
$5–$25 per withdrawal
Inactivity fee
Conditions at Kraken
$0
Market Average
$0–$10/month
Currency conversion fee
Conditions at Kraken
0.1%–0.2% built into quote; spot rate applies
Market Average
0.10%–1%
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Tip: Lower your trading costs

Lower your trading costs by increasing monthly trade volumes to unlock lower fee tiers, and prefer crypto withdrawals in coins with low network fees such as Litecoin or XLM to further reduce costs.

What are the fees on cryptocurrencies?

Kraken’s trading commissions are among the lowest available outside advanced global platforms. Spot fees start at 0.16% for makers and 0.26% for takers, with tiered reductions. No overnight, custody, or inactivity fees are charged, and transfer fees reflect true blockchain costs.

Fee TypeConditions at KrakenMarket Average
Buy/sell fees0.16%–0.26% spot; up to 0.40% (instant buy)0.2%–0.5%
Spread feesTypically 0.05%–0.20%0.1%–0.5%
Overnight fees$0 (not applicable)$0–$10 (CFDs), 0.05%/day
Custody fees$0 for all standard accounts$0–$10/month
Transfer feesNetwork fee (e.g., $2–$10 for BTC); lower for LTC, XLM$5–$25 per withdrawal
A comparison of fees between Kraken and the market average.
Buy/sell fees
Conditions at Kraken
0.16%–0.26% spot; up to 0.40% (instant buy)
Market Average
0.2%–0.5%
Spread fees
Conditions at Kraken
Typically 0.05%–0.20%
Market Average
0.1%–0.5%
Overnight fees
Conditions at Kraken
$0 (not applicable)
Market Average
$0–$10 (CFDs), 0.05%/day
Custody fees
Conditions at Kraken
$0 for all standard accounts
Market Average
$0–$10/month
Transfer fees
Conditions at Kraken
Network fee (e.g., $2–$10 for BTC); lower for LTC, XLM
Market Average
$5–$25 per withdrawal
A comparison of fees between Kraken and the market average.

What are the fees on staking and lending?

Kraken offers staking for several assets with competitive, all-inclusive reward rates. There are no explicit staking service fees or early withdrawal penalties; users receive rewards directly in their accounts. Kraken does not offer a lending product as of now.

Fee TypeConditions at KrakenMarket Average
Staking service feeNot explicitly charged; net APY5%–20% (deducted at other CEX)
Lending service feeNot offered3%–10%
Early withdrawal fee$0$0–$10
Network validator fee$0 (user not charged separately)0%–2%
Fee Comparison: Kraken vs. Market Average
Staking service fee
Conditions at Kraken
Not explicitly charged; net APY
Market Average
5%–20% (deducted at other CEX)
Lending service fee
Conditions at Kraken
Not offered
Market Average
3%–10%
Early withdrawal fee
Conditions at Kraken
$0
Market Average
$0–$10
Network validator fee
Conditions at Kraken
$0 (user not charged separately)
Market Average
0%–2%
Fee Comparison: Kraken vs. Market Average

Crypto currencies available

Kraken consistently stands out for its breadth of available cryptocurrencies, catering to both mainstream investors and those seeking deeper exposure to innovative blockchain projects. With well over 200 spot market assets, the platform allows users in Canada to access a rich selection spanning large-cap coins, prominent altcoins, and DeFi tokens.

One notable advantage of Kraken is its robust stablecoin support, including USD-pegged assets like USDT and USDC. This is critical for traders who need reliable liquidity, risk mitigation tools, and easier transitions between volatile assets and cash-equivalents.

I appreciate Kraken’s integrated staking program, which lets users earn rewards on a range of proof-of-stake assets directly from their exchange account. The selection covers major chains including Ethereum, Solana, and Polkadot. For investors interested in passive income, this staking infrastructure is both simple to access and transparent about yields.

Kraken offers futures trading—its main derivative product—for dozens of top assets, delivering access to speculation and hedging with leverage. While the range does not match some global leaders with hundreds of perpetuals, it is more than sufficient for most advanced users. NFT markets and spot CFDs are not available, which means users do not have access to non-fungible collectibles or simpler leveraged contracts beyond the main derivatives market.

Asset ClassTypeNumber at KrakenMarket AverageExample Assets
Cryptocurrencies (spot)Native220+150–300BTC, ETH, SOL, ADA, AAVE
Cryptocurrencies (CFD)Derivative050–100
StablecoinsNative55–10USDT, USDC, DAI
NFTsNon-fungible010,000+
Other derivativesFutures90+50–150BTCUSD, ETHUSD, XRPUSD
Comparison of asset classes available at Kraken versus the market average.
Cryptocurrencies (spot)
Type
Native
Number at Kraken
220+
Market Average
150–300
Example Assets
BTC, ETH, SOL, ADA, AAVE
Cryptocurrencies (CFD)
Type
Derivative
Number at Kraken
0
Market Average
50–100
Example Assets
Stablecoins
Type
Native
Number at Kraken
5
Market Average
5–10
Example Assets
USDT, USDC, DAI
NFTs
Type
Non-fungible
Number at Kraken
0
Market Average
10,000+
Example Assets
Other derivatives
Type
Futures
Number at Kraken
90+
Market Average
50–150
Example Assets
BTCUSD, ETHUSD, XRPUSD
Comparison of asset classes available at Kraken versus the market average.

Staking, DeFi Staking, and Lending

Staking, DeFi staking, and lending services are essential tools for crypto investors aiming to enhance passive returns, diversify usage of their assets, and access liquidity without liquidating core holdings.

Staking

Kraken’s staking service stands out for its user-friendly interface and wide selection of supported assets. Through the platform, I can stake popular coins like ETH, ADA, and DOT, benefiting from competitive rates and the convenience of earning rewards directly within my exchange wallet. The major strengths are instant reward distribution and low entry requirements, making it accessible for beginners.

However, staking rates can fluctuate and, in some cases, may be slightly lower than what’s available via on-chain or DeFi methods. Additionally, asset lockup periods and unstaking delays for certain coins should be considered for effective liquidity management. Compared to competitors, Kraken offers a strong balance between security, transparency, and reward rates, but may lack cutting-edge assets available on niche staking platforms.

CryptoRate or Fee at KrakenMarket AverageKey Conditions
ETHUp to 3–4%2–5%Rewards paid weekly, 7-day cooldown
ADA~3%2–5%Unstaking period: 1 epoch (~5 days)
DOT~8–10%10–14%28-day unstaking
ATOM~12%15–18%Variable unbonding period
BTCNot offeredN/ANot eligible for staking
ETH
Rate or Fee at Kraken
Up to 3–4%
Market Average
2–5%
Key Conditions
Rewards paid weekly, 7-day cooldown
ADA
Rate or Fee at Kraken
~3%
Market Average
2–5%
Key Conditions
Unstaking period: 1 epoch (~5 days)
DOT
Rate or Fee at Kraken
~8–10%
Market Average
10–14%
Key Conditions
28-day unstaking
ATOM
Rate or Fee at Kraken
~12%
Market Average
15–18%
Key Conditions
Variable unbonding period
BTC
Rate or Fee at Kraken
Not offered
Market Average
N/A
Key Conditions
Not eligible for staking

Staking DeFi

Kraken does not provide DeFi staking options. For investors interested in advanced earning strategies via yield farming or liquidity provision on decentralized protocols, this is a significant limitation. I find that users who want access to DeFi staking products will need to move their assets to external wallets and interact with third-party DeFi applications, increasing both the complexity and the risks involved.

Lending

Kraken does not currently offer a crypto lending service for retail users. This limitation means I cannot earn yield by lending my assets or borrow against my portfolio directly on the platform. For those interested in earning passive interest or seeking portfolio leverage through secured loans, Kraken requires utilizing other dedicated lending platforms, which may involve additional security and compliance considerations.

Other services

Additional services are essential for enriching the user experience on crypto platforms by providing greater flexibility, convenience, and access to advanced financial tools.

ServiceAvailable at Kraken
Carte cryptoNo
Crypto walletYes
ETFs cryptoNo
CFD cryptoNo
Copy tradingNo
API tradingYes
NFT marketplaceYes
Fiat on-rampYes
Insurance on fundsYes
Services disponibles sur Kraken
Carte crypto
Available at Kraken
No
Crypto wallet
Available at Kraken
Yes
ETFs crypto
Available at Kraken
No
CFD crypto
Available at Kraken
No
Copy trading
Available at Kraken
No
API trading
Available at Kraken
Yes
NFT marketplace
Available at Kraken
Yes
Fiat on-ramp
Available at Kraken
Yes
Insurance on funds
Available at Kraken
Yes
Services disponibles sur Kraken

Crypto wallet

Kraken offers integrated crypto wallet functionality for all supported assets. I can store, deposit, or withdraw crypto using Kraken’s secure wallets, which utilize a combination of hot and cold storage for high levels of safety. While this custodial solution is convenient, it means private keys are managed by Kraken— which is standard among centralized exchanges, but may not appeal to users looking for non-custodial or DeFi wallet options.

API trading

Kraken’s API suite is one of the most robust I’ve used among major exchanges. It provides REST and WebSocket access for algorithmic trading, high-frequency strategies, and real-time data pulls. The documentation is comprehensive, with advanced endpoints for margin, spot, and even futures products. Compared to many competitors, Kraken’s API is fast and reliable, though its rate limits can be restrictive for extremely high-volume traders.

NFT marketplace

Kraken recently launched an NFT marketplace where I can buy, sell, and manage non-fungible tokens directly from my exchange account. The platform supports popular blockchains and offers a user-friendly interface, with simple fee structures and tools for tracking collections. While still building volume compared to specialized platforms like OpenSea, Kraken’s marketplace offers seamless fiat on-ramps and the added security of a regulated exchange.

Fiat on-ramp

Kraken provides a smooth fiat on-ramp experience, allowing me to deposit Canadian dollars (as well as other major fiat currencies) via wire transfer, e-transfer, or debit methods. Their transparent fee schedule, quick funding times, and regulatory compliance make it especially attractive for Canadian users looking for a direct path from fiat to crypto. While not the only option in Canada, Kraken stands out for its fair fees and reliability in fiat handling.

Insurance on funds

Kraken has implemented insurance coverage for part of its held digital assets, mainly for losses resulting from breaches of its own systems or criminal theft. While this insurance is not comprehensive and does not protect against market risk or individual account breaches, it’s a strong reassurance—especially compared to platforms that offer no insurance at all. This approach aligns Kraken with other top-tier global exchanges prioritizing user security.

Account Opening & Deposits

Account opening

Opening an account at Kraken starts with submitting the online registration form using your email address and setting a secure password. You will receive a confirmation email to activate your account, then proceed to identity verification (KYC). Kraken asks you to upload a government-issued photo ID and a recent proof of address; a regulatory questionnaire may be required based on your account level or funding limits. Validation can range from instant to a few business days, especially during busy periods. When verified, you can access all platform features, with optional advanced steps like setting up two-factor authentication and wallet security.

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Good to know

Choosing your account’s base currency during setup can help simplify deposits and withdrawals, especially if you intend to trade CAD or USD pairs.

ItemDetails
Opening procedureOnline registration, email confirmation, KYC (ID upload, proof of address), account approval
Validation timeInstant to 2 business days, depending on volume
Accepted deposit methodsBank transfer (EFT, wire), crypto deposits, stablecoins (selected assets), debit card (varies)
Minimum required depositTypically $10 CAD for fiat; varies for crypto
Required documentsGovernment photo ID, proof of address, possible regulatory questionnaire
Practical tipEnsure scanned documents are clear and legible for faster and smoother approval
Opening procedure
Details
Online registration, email confirmation, KYC (ID upload, proof of address), account approval
Validation time
Details
Instant to 2 business days, depending on volume
Accepted deposit methods
Details
Bank transfer (EFT, wire), crypto deposits, stablecoins (selected assets), debit card (varies)
Minimum required deposit
Details
Typically $10 CAD for fiat; varies for crypto
Required documents
Details
Government photo ID, proof of address, possible regulatory questionnaire
Practical tip
Details
Ensure scanned documents are clear and legible for faster and smoother approval

Deposits and withdrawals on Kraken

Kraken accepts deposits and withdrawals via Canadian bank transfer (EFT, wire), international wire transfer, and a range of cryptocurrencies. For fiat, CAD and USD are supported, while for crypto, dozens of major and altcoin assets are available. Most deposits are processed within a few hours to 1 business day for bank transfers and instantly or within minutes for crypto. All clients get an integrated Kraken wallet for managing both fiat and crypto. Fees vary: some CAD/crypto deposits are free, while withdrawals incur fixed fees or blockchain network costs. Kraken supports in-platform conversions between fiat and crypto assets.

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Good to know

Always double-check crypto withdrawal addresses and network selection. Using the wrong network can result in irreversible loss of funds.

Payment methodAccepted currenciesMinimum amountProcessing timePossible fees
Credit cardNot widely supported
Bank transferCAD, USD$10 CAD (fiat)Hours to 1 dayFree deposit; withdrawal fee applies
E-walletsNot supported
Cryptos/stablecoinsBTC, ETH, USDT, USDC, etc.Varies by assetMinutesNetwork fee for withdrawal
Other local optionsEFT/interac (varies by region)$10 CADSame-dayLow or no deposit fee
Credit card
Accepted currencies
Not widely supported
Minimum amount
Processing time
Possible fees
Bank transfer
Accepted currencies
CAD, USD
Minimum amount
$10 CAD (fiat)
Processing time
Hours to 1 day
Possible fees
Free deposit; withdrawal fee applies
E-wallets
Accepted currencies
Not supported
Minimum amount
Processing time
Possible fees
Cryptos/stablecoins
Accepted currencies
BTC, ETH, USDT, USDC, etc.
Minimum amount
Varies by asset
Processing time
Minutes
Possible fees
Network fee for withdrawal
Other local options
Accepted currencies
EFT/interac (varies by region)
Minimum amount
$10 CAD
Processing time
Same-day
Possible fees
Low or no deposit fee

Customer reviews

On Trustpilot, Kraken holds a rating of 4.2 out of 5 based on more than 9,500 reviews.

Users highlight several positive aspects of the platform, including:

  • Easy and fast account opening process
  • Responsive and knowledgeable customer support
  • Wide selection of crypto assets for trading and staking
  • Competitive staking interest rates
  • User-friendly wallet integration and mobile app
  • Strong security practices, including cold storage

On the other hand, several negative points are regularly mentioned in reviews:

  • Slow processing times for withdrawals, especially during high demand
  • High withdrawal and network fees, particularly for smaller transfers
  • Limited availability of DeFi products and advanced trading tools
  • Lack of transparent proof-of-reserves for user assets
  • The interface can feel complex for first-time crypto investors

Here are a few representative examples of reviews posted on Trustpilot:

_M.J. – 12/04/2024: "The staking rewards are solid, but my Bitcoin withdrawal took almost two days to complete. Security feels top-notch though."_ _S.L. – 21/05/2024: "I appreciate the range of coins offered and the helpful support team. However, fees are on the higher side for small trades."_ _C.P. – 02/06/2024: "Kraken is reliable and the mobile wallet works well, but as a beginner I found the dashboard a bit overwhelming at first."_

FAQ

Is Kraken regulated or certified in CA?

Kraken operates in Canada as a registered money services business with FINTRAC. While it complies with Canadian AML regulations, it is not currently licensed as a securities dealer by Canadian provincial regulators.

What is the minimum deposit to start trading on Kraken?

Kraken does not enforce a minimum deposit for most accounts. However, minimums can vary depending on funding method and specific cryptocurrencies, so it's best to check Kraken’s funding guidelines before starting.

Does Kraken offer welcome bonuses or rewards?

Kraken does not generally offer welcome bonuses or sign-up rewards to Canadian users. Promotions may change over time, so always check the official website for current campaigns and referral incentives.

How does staking or earn work on Kraken?

Kraken offers staking on a range of supported cryptocurrencies. Users can deposit eligible coins, earn regular rewards, and unstake at any time, with reward rates adjusted according to market conditions and coin selection.

How does Kraken earn money (trading fees, spreads, commissions)?

Kraken’s main revenue comes from trading fees which are based on a maker-taker model. Additional revenue is generated through margin trading fees, withdrawal fees, and spreads applied to certain fiat conversions.

Who is the team or company behind Kraken?

Kraken was founded by Jesse Powell in 2011. Based in San Francisco, it is operated by Payward Inc. and managed by an experienced team specializing in digital asset markets and technology.

When was Kraken launched?

Kraken was officially launched in 2013. Since then, it has grown into one of the world’s longest-standing and most recognized cryptocurrency exchanges, serving clients in Canada and globally.

Does Kraken provide insurance or proof-of-reserve for customer funds?

Kraken holds a portion of client funds in cold storage and regularly conducts third-party audits as proof-of-reserves. While digital asset insurance for hot wallets exists, coverage is limited and terms may vary.

How can I contact Kraken’s customer service?

Kraken customer support is accessible via live chat, an extensive help center, and email support. Assistance is available 24/7, and users can submit tickets for account-specific help or technical questions.

Does Kraken offer a referral or cashback program?

Kraken offers a referral program where eligible users can earn a commission for inviting new clients who complete qualifying trades. Details and conditions are available in each user’s account dashboard.

Is Kraken regulated or certified in CA?

Kraken operates in Canada as a registered money services business with FINTRAC. While it complies with Canadian AML regulations, it is not currently licensed as a securities dealer by Canadian provincial regulators.

What is the minimum deposit to start trading on Kraken?

Kraken does not enforce a minimum deposit for most accounts. However, minimums can vary depending on funding method and specific cryptocurrencies, so it's best to check Kraken’s funding guidelines before starting.

Does Kraken offer welcome bonuses or rewards?

Kraken does not generally offer welcome bonuses or sign-up rewards to Canadian users. Promotions may change over time, so always check the official website for current campaigns and referral incentives.

How does staking or earn work on Kraken?

Kraken offers staking on a range of supported cryptocurrencies. Users can deposit eligible coins, earn regular rewards, and unstake at any time, with reward rates adjusted according to market conditions and coin selection.

How does Kraken earn money (trading fees, spreads, commissions)?

Kraken’s main revenue comes from trading fees which are based on a maker-taker model. Additional revenue is generated through margin trading fees, withdrawal fees, and spreads applied to certain fiat conversions.

Who is the team or company behind Kraken?

Kraken was founded by Jesse Powell in 2011. Based in San Francisco, it is operated by Payward Inc. and managed by an experienced team specializing in digital asset markets and technology.

When was Kraken launched?

Kraken was officially launched in 2013. Since then, it has grown into one of the world’s longest-standing and most recognized cryptocurrency exchanges, serving clients in Canada and globally.

Does Kraken provide insurance or proof-of-reserve for customer funds?

Kraken holds a portion of client funds in cold storage and regularly conducts third-party audits as proof-of-reserves. While digital asset insurance for hot wallets exists, coverage is limited and terms may vary.

How can I contact Kraken’s customer service?

Kraken customer support is accessible via live chat, an extensive help center, and email support. Assistance is available 24/7, and users can submit tickets for account-specific help or technical questions.

Does Kraken offer a referral or cashback program?

Kraken offers a referral program where eligible users can earn a commission for inviting new clients who complete qualifying trades. Details and conditions are available in each user’s account dashboard.

P. Laurore
P. Laurore
Finance expert
HelloSafe
Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.

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