The short version
- Score: 3.5/5, ranked 6 of 16 exchanges we rate
- Strongest: Features (5.0/5)
- Weakest: Fees (1.2/5)
- US users: limited availability
US customers: Kraken does not serve residents of New York or Maine. Its licensing page also says crypto transfers are unavailable in Indiana and fiat transfers are unavailable in Indiana, Louisiana, Massachusetts and Utah.
This review is generated from public evidence. Every point below links to the fee page, license, audit or report it came from, and the same rules score every exchange we cover. Evidence was last checked on Sep 30, 2026.
Blocklr score: 3.5/5
| Category | Score | Weight |
|---|---|---|
| Security and trust | 3.8/5 | 40% |
| Fees | 1.2/5 | 20% |
| Features | 5.0/5 | 15% |
| Access | 3.1/5 | 15% |
| Support | 5.0/5 | 10% |
How Kraken earned its score
Security and trust: 3.8/5
| What we checked | Points | Why |
|---|---|---|
| Reserve assurance | 3 / 3 | Reserves attested by an independent third party. source |
| Incident record since 2019 | 2 / 4 | 2 incidents since 2019. |
| Regulatory record since 2019 | 2 / 4 | 4 fines, bans or pleas since 2019. |
| Licensing | 3 / 3 | Licensed in the US or EU: FinCEN Money Services Business registration (Payward Interactive, Inc.), Wyoming Special Purpose Depository Institution (Kraken Financial), EU MiCA CASP, Central Bank of Ireland (Payward Europe Solutions Limited, C468360; Payward Global Solutions Limited, C559106). source |
| Account protection | 3 / 3 | Offers authenticator 2FA, passkeys or security keys, withdrawal allowlist. source |
Fees: 1.2/5
| What we checked | Points | Why |
|---|---|---|
| Spot taker fee (base tier) | 0 / 4 | 0.8% taker fee at the base tier. source |
| Spot maker fee (base tier) | 1 / 3 | 0.4% maker fee at the base tier. source |
| Free bank deposits | 1 / 1 | Free ACH or SEPA deposits. source |
Features: 5.0/5
| What we checked | Points | Why |
|---|---|---|
| Coins listed | 3 / 3 | About 600 coins listed. source |
| Products | 4 / 4 | Offers staking, futures, margin, trading API. source |
Access: 3.1/5
| What we checked | Points | Why |
|---|---|---|
| US availability | 1.5 / 3 | Limited US availability. source |
| Mobile apps | 1 / 1 | iOS and Android apps. |
Support: 5.0/5
| What we checked | Points | Why |
|---|---|---|
| Support channels | 3 / 3 | Offers live chat, phone, 24/7 coverage. source |
Track record since 2019
Incidents
- 2026 · Data breach: Disclosed April 2026: two support employees recruited by criminals improperly viewed limited client support data on about 2,000 accounts (first incident February 2025, second in early 2026), followed by an extortion attempt. Kraken said its systems were not breached, no funds were at risk, and it would not pay. source
- 2024 · Hack: June 2024: a bug let security firm CertiK withdraw nearly $3 million from Kraken's treasury. The funds were Kraken's, not customers', and were returned on June 20, 2024 minus fees. source
Regulators and courts
- 2025 · Lawsuit dismissed (SEC): March 27, 2025: the SEC's 2023 civil enforcement action against Payward Inc. and Payward Ventures Inc. was dismissed with prejudice by joint stipulation, with no penalty. source
- 2024 · Fine or settlement (ASIC (Australia)): December 2024: the Federal Court of Australia ordered Bit Trade Pty Ltd, operator of Kraken in Australia, to pay AUD 8 million (about $5.1 million) for issuing a margin extension product to more than 1,100 customers without a target market determination. Court-ordered penalty, not a settlement; USD figure is an approximate conversion. Amount: $5 million. source
- 2023 · Fine or settlement (SEC): February 9, 2023: $30 million in disgorgement, interest and penalties; Kraken agreed to stop offering its staking-as-a-service program to US customers, without admitting or denying the allegations. Amount: $30 million. source
- 2022 · Fine or settlement (OFAC): November 28, 2022: Kraken agreed to pay $362,158.70 to settle apparent violations of sanctions against Iran. Amount: $362K. source
- 2021 · Fine or settlement (CFTC): September 28, 2021: $1.25 million civil penalty for offering margined retail commodity transactions in digital assets to US customers without registration (June 2020 to July 2021). Amount: $1 million. source
Who Kraken fits
A good fit if
- You want a wide choice of coins (about 600 listed).
- You want reserves checked by an outside firm.
Think twice if
- You live in the US: availability is limited, so check your state first.
- Fees matter most: the base taker fee is 0.8%.
Goes to the official site. Blocklr earns nothing from this link.
Frequently Asked Questions
Is Kraken available in the US?
Partly. Kraken has limited US availability. Kraken does not serve residents of New York or Maine. Its licensing page also says crypto transfers are unavailable in Indiana and fiat transfers are unavailable in Indiana, Louisiana, Massachusetts and Utah.
What are Kraken's trading fees?
At the base tier, Kraken charges 0.4% for maker orders and 0.8% for taker orders on spot trades. Fees fall as your monthly volume rises.
Has Kraken been hacked?
Yes. We found 1 hack since 2019; the details and sources are in the track record above.
How is Kraken's score calculated?
Kraken scores 3.5/5. The score is calculated by fixed rules from public evidence, and the same rules apply to every exchange. No company can pay to change it.
About this review
Blocklr has no affiliate, advertising or sponsorship deal with Kraken or any other platform, so nothing here was paid for. Scores come from the rules in our review methodology. A fact we could not confirm scores as the lowest tier, which can make a score lower than it deserves. If something is wrong or out of date, tell us and we will check the source and correct it.