Kraken Review 2025: The Best Exchange for UK Users?
Thomas Drury
Co-Founder
Thomas is an experienced financial trader in leverage instruments, crypto and general investing. He has over a decade experience in finance and holds Chartered Status in the financial industry, Thomas’s speciality is trading CFDs, Forex and Day Trading. His crypto portfolio is heavily weighted towards BTC and Eth, but enjoys trading low cap crypto’s with higher volatility. Thomas’s favourite trading strategy is break out Trading.
“Our commitment at The Investors Centre is unwavering. We strive to provide clear, actionable advice that empowers you to achieve financial success. Our vision is a future where anyone can invest confidently and wisely.”
Dom Farnell
Co-Founder
Dom is an experienced retail investor, learning his craft in what he likes to call the “hard way”. Through many of these lesson’s he has crafted himself a sound investment strategy that has enabled him to make investing into a business not just a hobby. He wanted to create The Investors Centre to be able to use these lessons and help other people establish them selves in the world of investing.
“Financial clarity and integrity are the cornerstones of everything we do. We’re here to ensure that your investment journey is built on a solid financial understanding and a sound strategic foundation.”
Quick Answer:
Kraken earns a 4.3/5 rating for its strong security, wide crypto selection, and pro-grade tools. It suits both beginners and experts, though fees can be higher for casual users. Transparent, reliable, and responsive—Kraken is a solid crypto exchange choice in 2025.
Kraken Overview
- Minimum Deposit: Start trading crypto from just £1 via UK bank transfer
- Buy, sell, and stake over 200 cryptocurrencies with low fees
- FCA registered and trusted by millions worldwide
- Secure and intuitive web and mobile platforms with advanced trading tools
- Great for UK investors seeking a regulated, reliable crypto exchange
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Introduction
Kraken was the first Cryptocurrency exchange I ever utilised, back when purchased my first high-cap coins pre-covid.
Their user friendly and intuitive desktop and mobile platforms made for a great first exchange for me. I have since learned that not all exchanges are this user friendly and transparent.
My review aims to provide a clear and candid take on Kraken and some insight on what they do best. This is expressed through my eyes as a UK user. As we now head into 2025 I have made some minor updates relative to changes made on the platform.
What is Kraken Exchange
Kraken.com is cryptocurrency exchange, with a history that traces back to the early days of digital currencies.
Founded in 2011 by Jesse Powell, Kraken emerged in response to the growing need for a reliable and secure platform for trading cryptocurrencies. Powell, recognizing the potential of Bitcoin and the necessity for more regulated and user-friendly crypto exchanges, established Kraken in the aftermath of the infamous Mt. Gox hack. This event underscored the importance of security in crypto exchanges, a principle that became a cornerstone of Kraken’s operations.
Over the years, Kraken has built a reputation for its robust security protocols, which have helped it earn the trust of users worldwide.
Kraken’s journey from a start-up to a leading global crypto exchange is marked by significant milestones. It was one of the first crypto exchanges to provide detailed price data to the Bloomberg Terminal, enhancing the credibility of cryptocurrencies in traditional finance.
Kraken also played a vital role in helping recover lost funds after the Mt. Gox collapse, further solidifying its position as a trustworthy and capable player in the industry.
Today, Kraken stands not only as a crypto exchange hub, but also as an influential entity in the broader digital asset and blockchain space, contributing to the development and maturation of the cryptocurrency market.
What are the Kraken Fees?
Kraken Standard Fees
On the standard Kraken platform, fees are applied to various services like instant buy/sell transactions. These fees are generally higher compared to Kraken Pro, reflecting the convenience and ease of use aimed at casual traders:
Instant Buy/Sell Fees: For instant buy or sell transactions using a debit or credit card, the fee can be around 3.75% + €0.25. Using an online bank transfer incurs a fee of around 0.5%. This convenience comes with a higher cost, making it essential for users to be mindful when using these features.
Spread Fees: Fees for instant buy/sell services also include a spread, which varies based on market conditions, asset type, and order size. Kraken incorporates this into the price, so users are charged the displayed fee.
Convert Small Balances: Kraken applies a 3% fee for converting small balances that are below the minimum order size using their “Convert small balances” feature.
Kraken Pro Fees
Kraken Pro offers a more competitive fee structure designed to benefit high-volume traders. It uses a maker-taker fee model, where fees are based on the user’s 30-day trading volume. Here’s a breakdown:
Maker-Taker Fee Structure: The fees decrease as your trading volume increases. At the entry-level (trading volume under $10,000 in 30 days), the maker fee is 0.25% and the taker fee is 0.40%. For traders with a 30-day volume over $10 million, fees drop to as low as 0.00% for makers and 0.10% for takers.
Per-Trade Basis: Fees are charged on a per-trade basis and calculated as a percentage of the trade’s quote currency volume.
Note: The tiered fee structure makes Kraken Pro appealing for experienced traders who actively engage in high-volume trading.
Kraken Standard vs Kraken Pro Fees Table
| Feature | Kraken Standard | Kraken Pro |
|---|---|---|
| Instant Buy/Sell Fees | 3.75% + €0.25 (card); 0.5% (bank transfer) | Not applicable |
| Maker Fee (Up to $10,000 Volume) | N/A | 0.25% |
| Taker Fee (Up to $10,000 Volume) | N/A | 0.40% |
| Maker Fee (Over $10M Volume) | N/A | 0.00% |
| Taker Fee (Over $10M Volume) | N/A | 0.10% |
| Convert Small Balances Fee | 3% | Not applicable |
| Spread Fees | Included in price | Not applicable |
This table illustrates how Kraken Standard and Kraken Pro cater to different trader needs. Standard Kraken offers simplicity and instant transactions with higher fees, while Kraken Pro offers competitive fees for active traders, rewarding high trading volumes.
By understanding these fees, traders can choose the platform that aligns best with their trading habits and optimise their strategies accordingly.
Kraken User Interface: Kraken vs Kraken Pro
| Feature | Kraken | Kraken Pro |
|---|---|---|
| Target Audience | Beginners and casual traders | Advanced and professional traders |
| User Interface | Simple and easy to navigate | Advanced with detailed tools |
| Fees | Dynamic, higher for instant buys/sells | Lower, maker-taker fee structure |
| Trading Features | Basic buy/sell | Advanced order types |
| API Access | No | Yes |
Kraken Standard Platform:
- Designed for Beginners: The standard Kraken interface is tailored towards beginners or those who prefer simplicity in their trading experience. The design is intuitive and user-friendly, making it easy for newcomers to navigate the platform.
- Simplified Trading Process: It offers a straightforward approach to buying, selling, and exchanging cryptocurrencies. Users can easily view their balances, monitor market trends, and execute trades without the complexity of advanced trading tools.
- Educational Resources: Kraken provides various educational resources and guides within its standard platform, helping users understand the basics of cryptocurrency and trading. This feature is particularly beneficial for those new to the crypto space.
- Limited Advanced Features: While it covers the essentials, the standard platform doesn’t offer the extensive charting and analytical tools found in Kraken Pro. This limitation makes it less daunting for beginners but may not suffice for more practised traders seeking in-depth analysis.
Kraken Pro:
- Advanced Trading Features: Kraken Pro is designed for practised traders and offers a sophisticated suite of tools. This includes detailed charting options, a variety of order types (like limit, stop-loss), and comprehensive market analysis tools.
- Customization and Analytics: The platform allows for a high degree of customization in terms of trading dashboard setup. Users can analyse market trends with advanced charting functionalities, utilize trading indicators, and access historical data for in-depth market analysis.
- Interface Complexity: The interface of Kraken Pro is more complex compared to the standard platform. It’s packed with features and tools that, while powerful, might be overwhelming for beginners. This complexity is, however, a boon for professional traders who require these advanced functionalities.
In summary, Kraken offers two distinct interfaces to meet the needs of its diverse user base. The standard Kraken platform is ideal for those new to cryptocurrency trading or who prefer a more straightforward approach. In contrast, Kraken Pro offers a more complex and feature-rich environment suited for advanced traders who need detailed analytical tools and a wider range of trading options. The choice between the two depends largely on the user’s experience level and trading needs.
Which Cryptocurrencies are Available on Kraken
Kraken’s cryptocurrency portfolio is extensive and diverse, catering to a wide array of investor interests and strategies. Here’s a more detailed look at the types of cryptocurrencies available on Kraken:
- Major Cryptocurrencies: The backbone of Kraken’s offerings includes major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). These are popular among both seasoned and novice traders due to their established market presence and relatively stable histories.
- Altcoins: In addition to the major players, Kraken provides access to a variety of altcoins. These include Cardano (ADA), with its unique proof-of-stake mechanism, and Polkadot (DOT), known for enabling cross-blockchain transfers of any type of data or asset. Solana (SOL) and Chainlink (LINK) are also part of this mix, offering innovative blockchain solutions and real-world data integration, respectively.
- Niche Tokens: For those interested in the rapidly evolving landscape of niche cryptocurrencies, Kraken lists tokens like Axie Infinity (AXS), a blockchain-based trading and battling game and Moonbeam (GLMR), which simplifies the integration between the Ethereum and Polkadot blockchains.
- ERC-20 Tokens: Kraken’s selection also includes a range of ERC-20 tokens, which are based on the Ethereum blockchin and represent a diverse set of assets and utilities in the crypto ecosystem.
This comprehensive range ensures that Kraken users have access to a wide spectrum of cryptocurrencies, from the most popular and widely traded to more speculative and niche options, catering to different risk appetites and investment strategies. If you want a detailed list of cryptocurrencies available then visit Kraken.com
How to Open an Account with Kraken
Opening a Kraken account is a straightforward process, designed to be user-friendly while ensuring security and compliance with regulatory standards. Here’s a step-by-step guide to setting up your Kraken account:
- Visit the Kraken Website: Start by navigating to the Kraken website (kraken.com).
- Sign Up: Click on the “Sign Up” button usually located at the top right corner of the homepage.
- Enter Your Details: You will be prompted to enter basic personal information, such as your email address, a username, and a strong password. It’s crucial to use a unique password for added security.
- Email Verification: After submitting your details, Kraken will send a verification email. Open this email and click on the provided link to verify your email address.
- Account Activation: Upon email verification, you will be redirected to the Kraken website to activate your account.
- Provide Additional Information: For KYC (Know Your Customer) compliance, you’ll need to provide additional information such as your full name, date of birth, country of residence, and phone number.
- Identity Verification: Depending on your intended use and the account type, further identity verification may be required. This could include uploading government-issued ID documents, proof of residence, and possibly additional verification steps for higher account tiers.
- Appropriateness Assessment: Before you are able to trade, you will need to tell Kraken what type of investor you are, and provide some information about your exposure to high risk investments like cryptocurrencies. You will also need to answer a series of questions to make sure that you understand the risks associated with investing in cryptocurrencies. If you pass this assessment, you will have to wait for a 24 hour cooling-off period before you are able to start trading.
- Enable Security Features: Before you start trading, it’s advisable to set up security features such as two-factor authentication (2FA) for added account protection.
- Fund Your Account: Once your account is set up and verified, you can fund it using one of the supported fiat currencies or by depositing cryptocurrency.
- Start Trading: With your account funded, you are now ready to start trading on Kraken.
Tips and Tricks for Getting the Most Out of Kraken.com
- Leverage Educational Resources: Utilize Kraken’s extensive educational materials to enhance your understanding of cryptocurrency trading and the platform’s features.
- Customize Your Trading Interface: If you’re using Kraken Pro, take time to customize the interface to suit your trading style and preferences.
- Explore Advanced Trading Tools: Familiarize yourself with the advanced tools and features available on Kraken Pro to develop and execute more sophisticated trading strategies.
- Stay Updated with Security Features: Regularly update your Kraken account security settings, including two-factor authentication, to protect your account.
- Monitor Fee Structure: Keep an eye on the fee structure, especially if your trading volume changes, to manage transaction costs effectively.
- Engage with the Community: Participate in Kraken’s community forums or social media channels to stay informed about market trends and insights from other traders.
- Use Mobile App for Convenience: For trading on the go, make the most of Kraken’s mobile app while ensuring you’re aware of any limitations compared to the desktop version.
- Regularly Review Account Performance: Periodically review your trading activity and account performance to refine your strategies and make adjustments as needed.
- Stay Informed About Regulatory Changes: Especially for UK users, stay informed about any regulatory changes that might affect your trading activities on Kraken.
Key Takeaways:
Extensive Cryptocurrency Options: Kraken offers a wide range of over 200 cryptocurrencies, including major coins and niche tokens.
TIC Kraken Review rating: 4.35/5
Kraken Pro for Advanced Cryptocurrency Traders: Offers sophisticated tools and lower fees for crypto trading, but with a complexity that may not suit beginners.
Competitive and Structured Fee System: Designed to benefit high-volume traders, but might be costlier for casual or low-volume crypto investors.
Robust Security Protocols: Emphasizes strong security measures, including two-factor authentication and cold storage of assets.
User-Friendly with Educational Support: Balances simplicity for new traders and advanced features for experienced ones, backed by extensive educational materials.
Easy Account Setup and Crypto Purchases: Streamlined processes for opening a Kraken account and buying cryptocurrencies, with a focus on compliance and user security.
Buy and Sell Crypto Securely
- Staking Rewards
- High Security Standards
- Fiat Funding Options
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
FAQs
Is Kraken Safe?
Yes, Kraken is considered safe. It uses encryption for all sensitive data, enforces strict access controls, and meets top security standards, including ISO/IEC 27001:2013 certification and a completed SOC 2 Type 1 audit.
Is Kraken FCA Regulated
Kraken is registered with the UK’s Financial Conduct Authority (FCA) as a cryptoasset business for anti-money laundering compliance, but it is not fully FCA regulated like traditional financial institutions. This registration allows Kraken to legally operate in the UK’s crypto market.
How Do I Get Money Out of Kraken?
To withdraw money from Kraken, log into your account, navigate to the ‘Funding’ tab, and select ‘Withdraw.’ Choose the currency you wish to withdraw, and then select your preferred withdrawal method (e.g., bank transfer). Enter the amount and the details of your withdrawal method (like your bank account information), and confirm the transaction. Ensure that your account is verified and that you adhere to the withdrawal limits and conditions for your account level.
How Long Does It Take to Get Money Out of Kraken?
The time it takes to withdraw funds from Kraken depends on the method and currency. For GBP withdrawals using SEPA, the process can take 1-5 business days, depending on the bank. Cryptocurrency withdrawals are usually processed more quickly, often within a few minutes to a few hours, depending on the network status. It’s important to note that withdrawal times can be affected by factors such as account verification level, withdrawal limits, and network congestion.
What is the Minimum Deposit at Spreadex?
Withdrawals from Spreadex typically take 1-3 business days, depending on the chosen withdrawal method and banking processes.
