Kraken stands as one of the oldest and most established cryptocurrency exchanges globally, providing a robust platform for buying and selling Bitcoin. This review delves into Kraken's operations, reliability, and how it stacks up against key competitors.
Overview of Kraken
Kraken is the world's third-largest crypto exchange by spot trading volume. Founded in 2011, it is officially registered in the United States and Europe (UK). The platform is renowned for its security, reliability, and transparency, earning top ratings from independent agencies.
Serving over 10 million clients across more than 190 countries, Kraken facilitates over $200 billion in quarterly trading volume. It offers a wide array of products, including spot, futures, and margin trading, staking, and access to over 200 cryptocurrencies. Kraken provides tailored platforms for both beginners and professionals via web and app interfaces, making it easy to start with crypto.
In the Netherlands, Kraken primarily competes with exchanges like Coinbase, Bitvavo, and Bybit. It features a professional OTC desk, a futures market (Kraken Pro), and is registered with De Nederlandsche Bank (DNB). While Kraken was historically the most liquid euro market for Bitcoin, it has recently been overtaken by the Dutch exchange Bitvavo in 2025.
Products and Services
Kraken's main platform, often referred to as "Kraken New," is designed for straightforward crypto buying and selling via its user-friendly app and website. To purchase crypto, users can deposit euros through a SEPA transfer facilitated by Plaid, a European company. Other deposit methods include PayPal, direct bank transfers, Apple Pay, and credit cards. Users can also deposit existing Bitcoin and other cryptocurrencies directly.
Kraken Pro
Experienced traders and day traders will find Kraken Pro ideal. It boasts high trading volume and deep liquidity, ensuring fast and efficient order execution.
The exchange interface is highly professional and clear. Its layout is customizable with standard templates (simple/advanced) and can be fully tailored to individual preferences.
Kraken Trading (Legacy)
This service blends elements of Kraken New and Pro. Orders are placed through an order book dashboard without charts. Users simply input the amount and the desired cryptocurrency.
The exchange supports spot, margin (up to 5x leverage), and futures trading. Available order types include limit, market, stop-loss, stop-loss limit, take profit, and more. Trading fees are competitive at 0.16% for makers and 0.26% for takers, with reductions starting at $50,000 in trading volume.
Kraken OTC
Kraken operates an Over-The-Counter (OTC) desk for large orders, offering deeper liquidity and tighter spreads. It provides personalized one-on-one service for transactions starting at €100,000.
Kraken Fees Structure
Below is a detailed overview of Kraken's trading fees based on 30-day trading volume:
| 30-Day Volume (USD) | Maker Fee | Taker Fee |
|---|---|---|
| $0 - $50,000 | 0.16% | 0.26% |
| $50,001 - $100,000 | 0.14% | 0.24% |
| $100,001 - $250,000 | 0.12% | 0.22% |
| $250,001 - $500,000 | 0.10% | 0.20% |
| $500,001 - $1,000,000 | 0.08% | 0.18% |
| $1,000,001 - $2,500,000 | 0.06% | 0.16% |
| $2,500,001 - $5,000,000 | 0.04% | 0.14% |
| $5,000,001 - $10,000,000 | 0.02% | 0.12% |
| $10,000,000 - $100,000,000 | 0.00% | 0.10% |
Kraken does not have an independent VIP program for trading volumes, lagging behind some competitors like Bybit in this aspect.
Liquidity Comparison: Kraken vs. Competitors
Kraken has long been a global leader in crypto euro markets, historically operating the largest euro spot market for Bitcoin. However, competition intensified in 2024, notably with the rise of Bitvavo.
As of December 1, 2023, Kraken's EUR/BTC trading volume was $62,927,198, followed by Bitvavo at $42,884,462 and Coinbase at $36,150,352. Bitstamp, a prominent European exchange, recorded $20,929,313, while Bitfinex reached only $2,634,238. Although Kraken was the most liquid exchange for euro trading at that time, recent trends indicate a shift.
By November 2024, Bitvavo achieved a staggering euro trading volume of €50 billion, more than doubling its October figures. Its share of global BTC-EUR fiat volume surged from 3.6% to nearly 10%. On November 12, 2024, alone, Bitvavo registered a 24-hour trading volume of €1 billion. This performance established Bitvavo as the world's largest EUR spot market, capturing over 50% market share by December 2023 and surpassing Kraken in euro liquidity.
For traders focusing on euro-based Bitcoin transactions, Bitvavo is now the leading platform. Despite this, Kraken remains a strong contender due to its global reach and established reputation. Bitvavo, as a Dutch company, achieves impressive results without full operation across all European markets. With over 200 euro trading pairs and a user-friendly platform, Bitvavo is well-positioned to dominate the European market and potentially dethrone Kraken soon.
For most Dutch traders, Bitvavo offers sufficient functionality and low costs, with fees reportedly ranging from 0.15% to 0.25% depending on volume. Supporting this Dutch exchange is a strategic choice, given its competition with American giants and potential European leadership. 👉 Explore more trading strategies
Kraken Earn
Kraken Earn is part of Kraken Pro, offering staking for approximately 20 cryptocurrencies. Rewards range from 1% to 26%, though staking and lending digital assets involve risks.
Kraken NFT
Kraken also features an NFT marketplace, including popular collections like Bored Apes and CryptoPunks.
Pros and Cons of Using Kraken
Pros:
- Kraken is highly comprehensive, catering to both experienced traders and beginners. Switching between platforms is seamless. For instance, less experienced users can easily move between Kraken New and Pro for staking.
- The exchange interface is customizable to personal taste, a significant advantage.
- For seasoned traders, Kraken offers a rich product range, including futures and margin trading, with numerous order types. Fees are competitive, and liquidity is excellent.
- Security is a strong suit: Kraken uses top-tier security software, undergoes independent periodic proof-of-reserves audits, and stores funds in cold storage. Accounts can be further secured with a YubiKey.
- Kraken is registered with DNB and plans to offer iDEAL deposits.
Cons:
- Customer support for most European users is only available via live chat, with no Dutch-language support or website, which may be a drawback.
- While the new platform design is an improvement over the old version, it is less user-friendly than competitors like Bitvavo. However, it offers more advanced features like margin and futures trading and a professional OTC desk.
Advantage for Bitcoin Users: Lightning Network Support
Kraken supports the Bitcoin Lightning Network, a second-layer payment solution enabling near-zero-cost microtransactions in Bitcoin Satoshis (SATS). Users can withdraw SATS directly to Lightning-compatible wallets like Blue Wallet or Muun Wallet.
Kraken in the Netherlands
Kraken acquired Bitcoin Meester in 2023, following its 2015 acquisition of the Dutch exchange Clevercoin. Kraken has consistently targeted the Dutch market, and with the BCM acquisition, it is poised to enter the Netherlands with DNB registration. Currently, Kraken holds DNB registration but lacks a Dutch website and customer support, though this may change soon.
Kraken Custody
Kraken Custody provides qualified digital asset custody for institutional investors in the US, including wealth managers, hedge funds, and ETF administrators. It emphasizes security, regulation, and transparency. Offered through Kraken Financial, a state-chartered bank in Wyoming, it operates under a clear regulatory framework with stringent security controls. Kraken competes primarily with Coinbase and its institutional services.
User Experiences with Kraken
Our experiences with Kraken are positive. Its broad product range, multiple platforms, and competitive fees make it an attractive venue for buying, selling, and actively trading crypto. Established in 2011, Kraken has minimal downtime or security issues. Depositing and withdrawing euros via bank transfer is quick and easy. The OTC desk also receives excellent feedback. Overall, Kraken is perceived as reliable and secure.
Conclusion
Kraken meets diverse needs, serving as an excellent, professional, and trustworthy platform for trading Bitcoin and other cryptocurrencies. It has proven itself over the years and is regarded as one of the world's safest exchanges. It maintains highly liquid euro spot markets for Bitcoin, with higher euro trading volumes than Coinbase and other international exchanges. With its professional OTC desk and futures platform (Kraken Pro), it is a solid choice. We recommend opening a Kraken account to explore its offerings.
Kraken Alternatives
Regarding euro liquidity, Bitvavo in Amsterdam holds a top position just below Kraken. For most Dutch users, Bitvavo is the best alternative to Kraken and sufficient for their needs. However, Kraken offers futures and leverage trading, plus an OTC desk, competing directly with Bybit, the global leader in these instruments. Both Kraken and Bybit have clear plans for the Dutch market, providing ample choice for local traders.
Kraken remains a recommended spot and futures exchange for Bitcoin. Alternatively, Toobit exchange may also be of interest. We advise readers to open a Kraken account and compare it with Toobit, Bitvavo, Bybit, and Coinbase. For most Dutch investors and traders, a Bitvavo account may suffice. 👉 Get advanced trading methods
Frequently Asked Questions
Is Kraken safe to use?
Yes, Kraken is considered one of the safest crypto exchanges. It employs advanced security measures, including cold storage, two-factor authentication, and regular proof-of-reserves audits. Its long track record since 2011 reinforces its reliability.
What are the trading fees on Kraken?
Fees start at 0.16% for makers and 0.26% for takers, with discounts available based on 30-day trading volume. High-volume traders can reduce fees significantly, with makers paying 0% and takers 0.10% at the highest tier.
How does Kraken compare to Bitvavo?
Kraken offers more advanced features like futures and margin trading, appealing to professional traders. Bitvavo is more user-friendly and has superior euro liquidity for Bitcoin as of 2025. For Dutch users seeking simplicity, Bitvavo may be preferable, while Kraken suits those needing advanced tools.
Can I stake cryptocurrencies on Kraken?
Yes, through Kraken Earn, users can stake around 20 cryptocurrencies, earning rewards between 1% and 26%. However, staking involves risks, including potential loss of assets.
Does Kraken support Dutch payment methods?
Kraken accepts SEPA transfers for euro deposits and plans to introduce iDEAL. Currently, it supports bank transfers, PayPal, credit cards, and Apple Pay for crypto purchases.
What is Kraken's OTC desk?
The OTC desk handles large transactions (from €100,000) with personalized service, offering better liquidity and narrower spreads. It is ideal for institutional investors or high-net-worth individuals.