Kraken is a leading cryptocurrency exchange that offers a platform for buying, selling, and trading over 300 cryptocurrencies. While popular currencies like Bitcoin and Ethereum are available, Kraken also features a diverse range of altcoins for exploration. With competitive fees and advanced tools for seasoned investors, Kraken provides a comprehensive solution for navigating the world of cryptocurrency.
Kraken features
Here's what cryptocurrency exchange offers.
Why You Want It
Invest and trade in more than 350 cryptocurrencies + Low trading fees.
Provinces
ALL
Features
Estimated # Of Supported Cryptocurrencies
329
Supports Bitcoin?
Supports Ethereum?
Supports Litecoin?
Supports XRP?
Estimated # Of Supported Fiat Currencies
3
Supports CAD?
Supports USD?
Standard Maker Fee
0.25%
Standard Taker Fee
0.4%
Active Trader Discounts Available?
Interac E-Transfer Deposit Fee
0.5%
Wire Transfer Deposit Fee
0%
Available On Desktop?
Available On IOS?
Available On Android?
Offers Staking
Kraken product rating: 4.5 stars
Kraken has a lot to offer. It provides a diverse selection of cryptocurrencies for purchase, with competitive fees and low-cost funding options. For example, wire transfers from Canadian banks come with no fees. Plus, all the major digital currencies are available, making it a comprehensive platform for any crypto enthusiast.
Rating methodology
To evaluate crypto exchanges, we analyze over 20 data points to generate a trustworthy Genius Rating. We consider all aspects of a crypto exchange, including supported cryptocurrencies, fees, platform availability, customer satisfaction, and extra perks, to assess its overall value. Then, the exchange’s features are rated based on how they stack up against other available options.
Learn more about our rating methodology.
The pros of Kraken
Here's what we like about Kraken.
Pros
Plenty of cryptocurrencies to choose from
There's no shortage of different cryptocurrencies you can choose from. You can start with the usual currencies like Bitcoin, Ethereum, or XRP to name a few. But they have 350 currencies you can choose from.
Free wire transfers
Many cryptocurrency exchanges charge a small fee to fund your account. With Kraken, when you send a wire transfer from a Canadian bank you won't pay a fee. You can also send an Interac e-Transfer for a low fee of 0.5%, or head to a Canada Post office to get your account funded.
Tools for advanced traders
Kraken offers a lot, but you can take your trading to the next level with Kraken Pro and Kraken desktop. These tools provide extensive up to date information on cryptocurrencies to help optimize your trading.
The cons of Kraken
There's only one thing we'll say about Kraken, and it's not necessarily a bad thing either.
Cons
Not the best option for new investors
If you're new to the world of Crypto, it's possible that Kraken may overwhelm you. While they have plenty of info and currencies to choose from, it also makes the platform more geared towards those who are regular investors in cryptocurrencies.
Kraken alternatives
Here are some alternatives to Kraken and what they have to offer.
 |  |  |  | |
|---|---|---|---|---|
| Account | Kraken | Wealthsimple Crypto | Coinbase | Coinsquare |
| Genius Rating | ||||
| Why You Want It | Invest and trade in more than 350 cryptocurrencies + Low trading fees. | Get $50 when you fund your account with $500 + Commission-free trades. |  $75 GeniusCash + Trade over 200 cryptocurrencies + Includes offers staking | As low as 0.50% maker and taker fees + Easily deposit Canadian funds. |
| Estimated # Of Supported Cryptocurrencies | 329 | 100+ | 200 | 60+ |
| Supports Bitcoin? | | | | |
| Supports Ethereum? | | | | |
| Supports Litecoin? | | | | |
| Supports XRP? | | | | |
Show More | ||||
| Open an account See more Kraken products Compare | Open an account See more Wealthsimple products Compare | I Want This Deal See more Coinbase products Compare | Learn More See more Coinsquare products Compare |
FAQ
What is Kraken?
Kraken is a cryptocurrency exchange, where you can trade over 300 different cryptocurrencies.
What does it cost to trade with Kraken?
Kraken's fees are quite low. The maker fee is 0.25% and the taker fee is 0.4%.
What are the fees to fund an account?
If you do a wire transfer from a Canadian bank, there is no fee to fund your account. You can also use Interac e-Transfers for a 0.5% fee.
How many cryptocurrencies are available with Kraken?
There are currently 350 cryptocurrencies you can choose from with Kraken.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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