Kraken Review

Kraken Review

Kraken is probably one of the biggest cryptocurrency company in the world. Since its start in 2011, Kraken managed to grow systematically. The company is based in San Francisco, USA. In this Kraken Review we covered more details about its fees, limits and a system.

Supported Cryptocurrencies
  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Ripple (XPR)
  • Dash (DASH)
  • Monero (XMR)
  • Zcash (ZEC)
  • And more...
Offered Services
  • Trading
  • Margin trading
  • Mobile trading
  • Stop-loss orders
Payment Methods Accepted
  • Bank transfer (SWIFT, SEPA)
  • Wire transfer
  • Domestic transfer (USA and Japan)
  • Cryptocurrency
Fees
  • Trading fees depend on the trading pair
  • It can vary from 0% to 0.36%
  • Deposit fees vary depending on the currency and the country
  • It can vary from free (SEPA) to £10 (UK)
  • Withdrawal fees from €0.09 (SEPA) to £60 (UK)
  • Cryptocurrency deposit - FREE
Verification Process
  • It is required to provide personal details since the moment of registration
  • For further verification ID, social security number, proof of residence may be required
  • Business accounts have additional verification procedures
Supported Countries

United States, Canada, European Union countries and Japan

Speed
  • Deposit can take 1-5 business days
  • CAD Wire takes 5-12 business days
  • Verification may take 2-4 weeks
Limits
  • Depending on the tier
  • Tier 0 - no deposits are available
  • Tier 1 - deposits to cryptocurrencies are limited
  • Tier 2 - fiat deposits and withdrawals $2,000 daily, $10,000 monthly
  • Tier 3 - fiat deposits and withdrawals $25,000 daily, $200,000 monthly
  • Tier 4 - fiat deposits and withdrawals $100,000 daily, $500,000 monthly
Privacy
  • Even for the start user must provide his personal details like address, date of birth, etc.
Security
  • Encrypted cold storage
  • Two-Factor authentication
  • PGP/GPG
Pros
  • Has app for iOS
  • Great support
  • High level of security
  • Great UI
  • Low fees
Cons
  • Privacy could be better
  • Number of trading pairs could be bigger
Conclusion

We gave a great score for Kraken because of its reputation and superb trading platform. Since start, Kraken never stoped to improve. It has provided top level services and many great features like marginal trading, stop-loss orders, etc. Furthermore, it is amazingly secure.

Rating
9.5/10