Full Review
Where Kraken Shines
Large Selection:
Kraken offers access to over 300 cryptocurrencies and hundreds of crypto-to-crypto trading pairs. In early 2025, it reintroduced on-chain staking for 18 coins, providing competitive yields.
👉 Explore advanced crypto trading on Kraken Pro
Low Fees for Advanced Traders:
While entry-level fees can be high, Kraken Pro boasts some of the lowest trading fees among platforms reviewed by NerdWallet, with rates as low as 0% for high-volume traders.
Where Kraken Falls Short
Limited Funding Options:
U.S. users face restricted deposit methods. Trustly supports connections with over 1,000 banks, but unsupported institutions require wire transfers—a cumbersome process. Testing revealed occasional connectivity issues with regional banks.
Geographic Restrictions:
Kraken isn’t available in New York or Washington state.
Best For:
- Crypto-to-crypto trading
- Margin trading
- Advanced traders
Kraken at a Glance
| Feature | Details |
|---|---|
| Trading Fees | Up to 5% for debit card purchases; 1% after funding. Kraken Pro: ≤0.4%. |
| Minimum Trade | $1 |
| Cryptocurrencies | 300+ |
| Trading Pairs | Hundreds via "convert" feature |
| Staking (APY) | On-chain for 18 coins (up to 22%) |
| Customer Support | 24/7 live phone and chat |
Detailed Ratings
Trading Fees: 2.5/5 ⭐
- Instant Buy: ~4.8% fee on debit card purchases.
- Kraken Pro: 0–0.4% (maker-taker model).
Minimum Trade: 5/5 ⭐
$1 for Bitcoin.
Cryptocurrencies: 5/5 ⭐
300+ options.
Staking: 4.5/5 ⭐
Reintroduced in 2025 with APYs up to 22%.
Customer Support: 5/5 ⭐
24/7 multilingual phone/chat. VIP traders get dedicated reps.
Advanced Features
- Margin Trading: Fees top at 0.02% + 0.02% rollover (4-hour intervals).
- Futures Trading: Available for select cryptos.
👉 Compare margin trading platforms
Is Kraken Right for You?
Ideal for seasoned traders seeking low fees and diverse options. Beginners may find the interface complex.
FAQs
Q: What are Kraken’s staking rewards?
A: Up to 22% APY for 18 supported coins.
Q: Can U.S. residents use Kraken?
A: Yes, except NY and WA.
Q: How do Kraken Pro fees compare?
A: Among the lowest (0–0.4%).
Q: What’s the minimum trade?
A: $1 for most cryptos.
Q: Is customer support reliable?
A: Yes—24/7 live chat and phone.
Q: Are wire transfers mandatory?
A: Only if your bank isn’t supported by Trustly.
Methodology: NerdWallet’s ratings are based on hands-on testing, provider questionnaires, and weighted scoring across 10+ factors. Learn more here.