Where it comes from
Kraken started in San Francisco in 2011. It grew as the serious, secure choice after Mt. Gox collapsed. Now it’s licensed across the U.S., UK and EU, recently landing MiCA approval in Ireland to expand in Europe. It’s built for traders who value strict compliance and global reach.
Security first, always
- No major hacks in 13+ years, with 97% of funds kept in cold storage.
- Independent SOC 2 audits reinforce security controls.
- Extras like 2FA, Global Settings Lock and personal security dashboards.
Traders consistently rank Kraken at the top for safety. But the interface stays dated - power users adapt, beginners might bounce.
What you can do here
- Kraken Lite for easy fiat buys and sells.
- Kraken Pro with full order books, margin and futures up to 50x.
- Staking for 25+ coins with solid APRs.
- Wallet support across 8 chains with tools for key management.
Fees start near 0.16% maker or taker, dropping with higher volumes. Margin and futures costs scale with leverage.
Liquidity and daily feel
Kraken clears around $283 million in spot and $217 million in derivatives daily, ranking top 10 globally. BTC and ETH books run deep so fills are stable, but the UI is purely utility-focused - not flashy like Binance or Coinbase, just built for execution.
Regulation - good and bad
- Paid $1.25M to the CFTC in 2021 over margin registration.
- Settled $362k with OFAC in 2022 on sanctions issues.
- Paid $30M to the SEC in 2023, stopping U.S. staking.
- Faces new SEC action over alleged unregistered exchange activity.
On the plus side, it won MiCA licensing in Ireland and FCA e-money approval in the UK. Kraken is deeply regulated - building trust, but sometimes forcing feature changes.
Quick snapshot
- Founded: 2011, San Francisco
- Products: Spot, margin, futures, staking, wallet
- Coins: 200+ assets
- Leverage: Up to 50x futures
- Security: Cold wallets, SOC 2, no breaches
- Liquidity: Top 10 globally
- Compliance: US, EU, UK licenses, past settlements
- UX: Powerful, old-school
- Trust level: Very high on safety and regulation
Pros and cons
- Pros: Industry-best security, broad products, licensed worldwide, deep books.
- Cons: Old interface, regulatory frictions pause features, no constant PoR dashboards, new SEC action adds risk.
Final word
Kraken stays one of the safest crypto platforms on earth. You get deep liquidity, fiat ramps, strong regulation, and solid execution. But it’s clunky for first-timers, regulatory shifts pause features, and it’s best if you trade real size or hold long-term. If you want rock-solid security and can handle a few extra clicks, Kraken is hard to beat.