Kraken Review 2025: Is Kraken a Safe Crypto Exchange?

What is Kraken?

Founded in 2011 by Jesse Powell in San Francisco, Kraken is one of the oldest cryptocurrency exchanges still in operation. It emerged in the wake of Bitcoin’s early years, aiming to provide a secure and reliable platform for trading digital assets. Over time, it has grown into a global player, serving users in over 190 countries. In 2025, Kraken’s leadership under CEO Dave Ripley continues to push its mission of accelerating crypto adoption while maintaining a focus on user trust and regulatory compliance.

What sets Kraken apart? It’s not just its longevity but also its commitment to transparency and security. Features like proof of reserves audits, a wide range of trading options, and a user-friendly interface cater to both novices and pros. Unlike some competitors, Kraken balances accessibility with advanced tools, making it a go-to for diverse crypto enthusiasts.

Is Kraken Safe in 2025?

Safety is a top concern for anyone trading crypto, and Kraken has built a reputation as one of the most secure exchanges. In 2025, it continues to prioritize robust security measures. These include two-factor authentication (2FA), cold storage for 95% of user funds, and advanced encryption protocols. Kraken also uses a Master Key and Global Settings Lock (GSL) to protect accounts, adding layers of defense against unauthorized access.

Historically, Kraken has an impeccable record—no major hacks have compromised its platform since it began. This track record is bolstered by regular proof of reserves audits, a practice it pioneered. These audits, conducted by independent third parties, verify that Kraken holds 100% of customer funds, ensuring your assets are backed. In 2023, the exchange reported covering 78% of all customer assets in its reserves, but recent updates suggest improvements toward full coverage. While not insured like a traditional bank, Kraken’s transparency and proactive security stance make it a standout in the industry.

Compliance is another strength. Kraken is registered as a Money Services Business with the U.S. Financial Crimes Enforcement Network (FinCEN) and adheres to regulations in multiple jurisdictions, including the UK and Canada. This regulatory oversight adds a layer of trust for American users wary of unregulated platforms.

Kraken Fees and Trading Costs

Kraken’s fee structure varies depending on how you trade, making it essential to understand your options. For spot trading on Kraken Pro, it uses a maker-taker model. Makers, who add liquidity with limit orders, pay 0.16% for trades up to $50,000 in the last 30 days, while takers, who remove liquidity with market orders, pay 0.26%. Fees decrease with higher trading volumes, dropping to 0% for makers and 0.10% for takers above $10 million.

For beginners using the Instant Buy feature on the standard platform, fees are higher—0.9% for stablecoins and 1.5% for other cryptocurrencies. This makes it less cost-effective for casual users compared to Kraken Pro. Futures trading fees range from 0% to 0.05%, appealing to advanced traders leveraging up to 50x. Margin trading incurs a 0.01% to 0.02% opening fee, plus a rollover fee of the same amount every four hours a position remains open.

Deposits are mostly free for cryptocurrencies, though fiat deposits vary. For example, a USD wire transfer costs $5, while ACH transfers via Trustly are free for supported banks. Withdrawals carry small fees—$0.0001 for Bitcoin, for instance—but can add up for frequent movers. Compared to industry averages, Kraken Pro offers some of the lowest fees for active traders, while Instant Buy lags behind competitors like Coinbase.

Kraken Supported Cryptocurrencies and Trading Pairs

Kraken boasts an impressive lineup of over 340 cryptocurrencies in 2025, covering major coins like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), alongside a vast array of altcoins such as Cardano (ADA) and Polkadot (DOT). This diversity ensures traders have ample options to diversify their portfolios.

Fiat trading pairs are robust, supporting USD, EUR, GBP, CAD, AUD, CHF, and JPY. USD pairs, like BTC/USD and ETH/USD, are particularly popular among American users due to high liquidity. With over 130 crypto-to-crypto trading pairs, Kraken’s “convert” feature also simplifies swapping between assets. While not as extensive as Binance’s 500+ coins, Kraken’s selection strikes a balance between variety and reliability.

Kraken’s Features and Tools

Kraken offers a suite of features catering to different trading styles. Staking is a highlight, relaunched in 2025 for U.S. users in 37 states after a prior SEC settlement. Users can earn up to 23% annual yield on assets like ETH and SOL by locking them to support blockchain networks. This passive income option appeals to long-term holders.

Kraken Pro is the advanced trading platform, offering low fees, customizable charting, and order types like stop-loss and take-profit. It’s ideal for seasoned traders needing precision. Futures trading, with up to 50x leverage, and margin trading, with 5x leverage, provide high-risk, high-reward opportunities. These tools position Kraken as a versatile platform, though beginners may find the learning curve steep.

Kraken Mobile App Review

The Kraken mobile app, available on iOS and Android, brings trading to your fingertips. It mirrors the desktop experience with features like buying, selling, and portfolio tracking. The app’s clean design makes it accessible, though advanced traders can switch to Kraken Pro within the same app for deeper analysis.

User reviews are mixed—many praise its functionality, but some Android users report lag. On TrustPilot, Kraken scores 1.4 out of 5 from over 2,000 reviews, often citing app performance and login issues. Still, for most, it’s a reliable companion to the web platform, especially for quick trades on the go.

Kraken Customer Support & User Experience

Kraken offers 24/7 customer support via live chat and email, with phone support available for urgent cases. Response times vary—live chat can resolve issues in minutes, but email queries may take hours or days, especially during peak times. Common complaints include delayed withdrawals and account lockouts, often tied to KYC verification hiccups.

The user experience is generally smooth, with an intuitive interface on both platforms. However, negative feedback on slow support and occasional downtime during maintenance periods tempers its reputation. For a platform of its size, Kraken’s support is adequate but not industry-leading.

Kraken vs Competitors: How Does It Compare?

Against Binance, Kraken offers fewer coins (340 vs. 500+) but excels in security and transparency, with regular audits Binance only recently adopted. Binance’s lower fees (0.10% max) and higher trading volume appeal to high-frequency traders, yet Kraken’s regulatory compliance gives it an edge for U.S. users.

Compared to Coinbase, Kraken provides more cryptocurrencies and lower Pro fees (0.26% vs. Coinbase’s 0.60%). Coinbase’s beginner-friendly interface and staking options in all states outshine Kraken’s limited U.S. staking, but Kraken’s advanced tools cater better to pros.

KuCoin matches Kraken’s coin variety and offers competitive fees (0.10% max), but its lack of U.S. regulation and weaker audit transparency make Kraken safer for American traders. Each competitor has strengths, but Kraken balances security and functionality well.

Pros and Cons of Using Kraken

Pros:

• Top-tier security with no major hacks and regular audits.
• Low fees on Kraken Pro for active traders.
• Wide range of 340+ cryptocurrencies and fiat pairs.
• Advanced features like futures and staking.
• Strong regulatory compliance in the U.S.

Cons:

• High Instant Buy fees for beginners.
• Limited staking availability in the U.S.
• Mixed customer support reviews.
• Not available in New York or Washington state.
• Occasional app lag and downtime.

Final Verdict: Should You Use Kraken in 2025?

Kraken remains a solid choice in 2025, blending safety, affordability, and versatility. Its security measures, backed by a clean hack-free history and proof of reserves, inspire confidence. Fees are a mixed bag—Kraken Pro is cost-effective for active traders, but Instant Buy stings casual users. With over 10 million users and a broad cryptocurrency selection, it’s a platform that scales with your experience.

Who should use Kraken? Advanced traders will thrive with its tools and low costs, while beginners can start here but should upgrade to Pro quickly to avoid high fees. If you value security and regulatory adherence over flashy perks, Kraken is a worthy contender. For U.S. users outside restricted states, it’s a reliable gateway to the crypto world.

Conclusion

Kraken’s longevity and focus on security make it a standout exchange in 2025. Its ability to cater to both newbies and experts, coupled with competitive fees for pros, keeps it relevant. While it’s not perfect—customer support and regional limits are drawbacks—it’s a platform built on trust and transparency. As crypto continues to mature, Kraken’s forward-thinking approach positions it well for the future. Stay informed and weigh your needs against its offerings to decide if it’s your ideal exchange.

FAQs

Is Kraken better than Binance in 2025?

It depends on your priorities. Kraken offers superior security and transparency with audits, ideal for safety-focused U.S. traders. Binance has more coins and lower fees, suiting high-volume traders globally.

Can I trust Kraken with my crypto assets?

Yes, Kraken’s no-hack history, cold storage, and proof of reserves audits make it trustworthy. However, always use 2FA and consider a hardware wallet for long-term storage.

What is the minimum deposit on Kraken?

The minimum deposit is $10 for fiat via bank transfer or card. Crypto deposits vary by asset—e.g., 0.0001 BTC for Bitcoin.

Does Kraken have a withdrawal limit?

Yes, limits depend on the verification level. Starter accounts are capped at $5,000 daily, while Pro users can withdraw up to $10 million with higher verification.

References

• Kraken Official Website