is kraken exchange good

Kraken, established in 2011, prioritizes security with 95% cold storage and physical safeguards, though some user complaints exist. Its Pro platform offers competitive fees based on volume, while its Instant Buy feature is pricier. A wide range of cryptocurrencies is available, but the interface may be challenging for beginners.

Mar 21, 2025 at 04:09 pm

• Asset storage : Kraken adopts 95% of user funds cold storage, which means that most of the funds are stored in offline hardware devices, greatly reducing the risk of assets being stolen by hackers. At the same time, its server is in a security cage under 24/7 armed guards and video surveillance, ensuring server security from a physical level.

• Encryption technology : Encrypt user-sensitive information at the system and data level. And regularly conduct vulnerability testing to continuously improve the security of your own system. For example, Kraken won the CSO50 Award for security initiatives, indirectly demonstrating his efforts and effectiveness in safety. However, there are complaints about individual user accounts being hacked on some online forums, but overall, there has been no major security breach in Kraken.

• Kraken Pro trading platform : The fees are relatively reasonable for users who use Kraken Pro. Maker (traders who provide liquidity) and Taker (traders) fees are adjusted based on trading volumes over the past 30 days. For example, when the transaction volume is $50,000 or less, the Maker fee is 0.16% and Taker fee is 0.26%. As transaction volume increases, fees will gradually decrease, and when the maximum transaction volume exceeds $10 million, Maker fees can be reduced to 0% and Taker fees can be reduced to 0.1%.

• Instant Buy : This feature is convenient for beginners to quickly buy cryptocurrencies, but the cost is high. A fixed fee of 0.9% is charged for stablecoins and a fixed fee of 1.5% is charged for other cryptocurrencies. If you use an online bank account to purchase cryptocurrency, an additional 0.5% processing fee is required.

• Interface design : For new users, Kraken's interface may appear more complicated, and navigation and operation require a certain amount of time to get familiar with and adapt, and the learning cost is relatively high.

• Customer Service : Some users reported that Kraken's customer service response speed was slow, especially during peak transactions, and the timeliness of problem solving was poor. However, it provides a rich educational material, which is a good learning resource for users who want to have an in-depth understanding of cryptocurrency transactions.