Kraken runs two experiences side by side: an easy buy-and-sell app for everyday purchases and Kraken Pro, a full order book platform for people who trade more actively. Although the company started in the United States, it has built a sizeable international business, with European authorisation and several local ways to deposit cash. How much you pay depends heavily on which of the two interfaces you use. That makes Kraken a natural fit for someone who wants to start simple and graduate to precise order types without moving to a new exchange.

At a glance

  • Founded: 2011.
  • Headquarters: Cheyenne, Wyoming, United States, with staff spread around the world.
  • Regulation and licences: Irish Payward companies hold MiCA permissions for crypto services in the EEA; payments and other regulated activities sit with separate entities.
  • KYC requirement: You must provide personal details and verify your identity before trading.
  • Supported countries: Available internationally, including the EEA; which assets and products you get depends on where you live.
  • Number of cryptocurrencies: 450+ digital assets advertised, with fewer available in certain regions.
  • Fiat deposits: Local bank transfers such as EUR via SEPA, plus other supported currencies.
  • Mobile app: Separate Kraken and Kraken Pro apps for buying and for active trading.

Sign up and KYC process

Before your account is unlocked, Kraken collects personal information and verification documents. What you need to supply depends on your country and on the services you want, and may include an official ID, a face scan and proof of address. Verification levels are tied to limits and product access, so finishing sign-up does not automatically open the whole Kraken range.

In Europe, different Irish companies provide different services. Payward Europe Solutions Limited is authorised under MiCA for activities such as custody and exchange, Payward Global Solutions Limited is permitted to run a crypto trading platform, and cash handling sits with yet another entity. In the UK, retail customers must also wait through a compulsory cooling off period after verification before they can trade. These layers explain why onboarding can look different from one Kraken customer to the next.

Fees

On Kraken Pro, the starting spot tier currently charges 0.40% for makers and 0.80% for takers, falling as you reach the volume thresholds in the published schedule. Older Kraken fee tables, and the separate rates for stablecoin, forex and other specially classified pairs, should not be mixed up with these figures.

The consumer app works on a different basis. Kraken quotes a 1% fee for instant and recurring buys and 1.5% for custom orders, and the spread or payment method can add to that. A Kraken+ subscription removes eligible trading fees up to an allowance, but it does not cover every part of the price you pay. The fair comparison is the full quote in the app against the equivalent order on Pro, including the cost of the deposit method you plan to use.

Supported assets and features

You will find the leading cryptocurrencies plus a wide spread of altcoins. Kraken also promotes its number of trading pairs, which is not the same thing as the number of coins, because one asset can be paired with several fiat currencies or stablecoins. Some stablecoins and other tokens are restricted in Europe, so the worldwide list is not what an EEA customer can necessarily buy.

Kraken Pro adds charts and order book tools, while the regular app focuses on buying, selling and scheduled purchases. Staking, margin and derivatives each have their own residence and eligibility rules. Kraken also offers a self custody wallet and other financial products, but those are separate from a standard non US trading account, which is the product being assessed here.

Security

Protection options include passkeys, extra authentication, a Master Key and a Global Settings Lock. The settings lock is worth understanding: it stops sensitive account settings from being changed without additional steps, which is a different safeguard from the identity checks done at sign-up.

Kraken publishes proof of reserves covering a stated set of assets at a specific moment. It has also disclosed a vulnerability affecting deposits, which it fixed while stating that customer funds were not touched. Disclosures like these tell you more than a blanket claim of never having had a problem. Even so, customers still rely on Kraken to hold their assets safely and to process withdrawals.

Pros

  • Simple and Pro interfaces suit both casual and active traders.
  • European crypto permissions and cash services are named by legal entity.
  • Extra account protections such as the Master Key and Global Settings Lock.

Cons

  • Buying through the consumer app can cost more than the headline trading fee.
  • Regional rules can remove tokens that appear in global marketing.
  • Advanced products need extra eligibility checks and carry more risk.

Verdict

Kraken is worth a look for international users who want local deposit options and an easy path from basic purchases to order book trading. Its European operation is large enough to judge on its own merits rather than as an extension of the US business. The key choice is whether the simple app or Kraken Pro matches how you trade, using the current fees for that interface in your own region.