An American bitcoin exchange was established in 2011. It was one of the first bitcoin exchanges to list on Bloomberg Terminal and, as of mid-summer 2022, it was estimated to be worth US$10.8 billion.
- Numerous cryptocurrencies supported
- Kraken Pro charges little
- Highly liquid exchange
- Low non-instant buy fees
- Advanced trading platform
- Massive product selection
- Not accessible in every state in the USA
- Limited possibilities for account funding
- Extremely high instant buy fees
- Poor selection of educational materials
- Withdrawal fees, and high minimums
Why to choose Kraken?
Here is why to choose Kraken or simply skip it, up to you to pick!
Our choice for the best low-fee exchange is Kraken, whose professional-grade trading platform, Kraken Pro, has some of the lowest costs in the cryptocurrency exchange market. Due to its complex order types, support for leverage trading, and support for futures trading, it is also our top recommendation for seasoned traders.
One of the most reputable cryptocurrency exchanges in the world, Kraken was founded in 2011 and is accessible throughout much of the globe. The San Francisco-based exchange offers cheap costs on its professional-grade trading platform, Kraken Pro, which allows users to buy, sell, and store over 185 different cryptocurrencies.
In the early days of the cryptocurrency industry, this feature-rich crypto exchange established itself as the go-to platform for professional investors, and it has continued to uphold its image as a trustworthy and expert trading site.
Kraken offers two platforms: Kraken, which is used for trading, and Kraken Pro, which is used for professionals. The exchange’s Pro dashboard offers 13 different order types, fully customisable chart analysis tools, in-depth order book knowledge, and quick execution. Users of Kraken can trade cryptocurrencies on margin and employ derivatives contracts in addition to spot trading.
Kraken Pro charges very little in comparison to its regular platform, where quick buy costs can be rather substantial (up to 1.5%). High-volume traders can reduce trading costs with Kraken Pro’s tiered fee structure. Kraken Pro maker fees start at 0.16% and taker fees start at 0.26% for traders with 30-day volumes of less than $50,000. For traders with 30-day rolling volumes over $10 million, maker fees can decrease to 0%, while taker fees can decrease to 0.10%.
Furthermore, Kraken has a restricted range of funding alternatives, with wire transfers being the most popular way for users to pay. Transfers via ACH are not accepted.
