Today, we’ll have a look at one of the oldest Crypto exchanges, Kraken, and I’ll also share a Kraken referral code to get an extra trading fee discount.
Kraken is a United States-based cryptocurrency exchange and bank, founded in 2011. It was valued at $11 billion in mid-summer 2022.
Kraken is the most trusted cryptocurrency exchange on the market. Kraken offers spot and futures trading between Bitcoin, Ethereum, and 80+ other digital assets and seven fiat currencies. Kraken’s platform keeps its finances stable by maintaining full reserves, good banking relationships, and the highest legal compliance standards. No doubt, Kraken is rated as one of the best places to buy and trade crypto online, owing to its outstanding service, low fees, flexible payment methods, and high-security standards.
Kraken Exchange fees
In terms of fees, your past 30-day trading volume determines how much you pay in fees. Notably, this only relates to trading fees, not fund deposits and withdrawals, which vary according to the method utilized.
- Fees: 0% to 0.26% per trade, 3.75% + €0.25 for credit card purchases, and 0.5% for online banking processing
Kraken has various products for traders and institutions, like Instant Buy, and Kraken Pro. For a comprehensive list of fees, please see the Fee Schedule page.
The best way to minimize fees on Kraken is to use Kraken Pro. This product enables you to pay less based on higher volumes. You earn discounts immediately as the system reassesses your eligibility tier after every trade.
Kraken Vs Binance – Which is the best crypto exchange?
At a Glance
| Kraken | Binance | |
|---|---|---|
| Fees | 0% to 0.26% per trade, 3.75% + €0.25 for credit card purchases, and 0.5% for online banking processing | 0.02% to 0.10% purchase and trading fees, 3% to 4.5% for debit card purchases, free Single Euro Payments Area (SEPA) transfer, or $15 per U.S. wire transfer |
| Currencies | About 70 | Over 500 |
| Security | 2FA withdrawal email confirmation, air-gapped cold storage, strict surveillance, precise API key permission control, SSL encryption | 2FA verification, FDIC-insured USD balances, device management, address allow listing, cold storage |
| Wallet | N/A | N/A |
| Transactions Supported | Buy, sell, send, receive, exchange, margin trading, limit order, market order, stop-loss limit order, stop-loss market orders, futures trading, take profit market order, and more | A limit order, market order, stop-limit order, trailing stop order, post-only order, peer-to-peer trading, margin trading, one-cancels-the-other order, and more |
| Max. Daily Trading Amount | $100,000 | Limits differ based on the cryptocurrency purchased |
| Mobile App | iOS and Android | iOS and Android |
| Website | Learn more > | Learn more > |
Both crypto exchanges offer advanced trading options, low fees, and educational resources. International users appreciate Binance’s large selection of cryptocurrencies. But, U.S. residents will be less impressed with fewer choices. Kraken offers more transparency, prioritizes security, and provides a decent amount of currency for U.S. users, although far fewer coins than Binance for international users.
Kraken referral code or Referral link
Kraken does not have a formal referral system for new users. In their app, there is no option for referrals or invitations. But they have approved affiliates, and you can use their referral link to get bonuses and trading fee kickbacks while signing up.
I’m one of their approved affiliate partners, and you can use my Kraken referral link to get a 20% trading fee discount. They also run deposit promos from time to time, so make sure to check this page and also take advantage of those offers.
FAQ
1: Does Kraken allow leverage trading/Futures for US customers?
Yes, Kraken is one of those exchanges where US users can do leverage trading. Kraken supports up to 5x leverage for US users.
2: Is Kraken a trusted exchange?
Yes, it’s one of the most trusted cryptocurrency exchanges on the market. Kraken is one of the earliest exchanges, founded in 2011, with its home base in San Francisco, California.
3: Is the Kraken exchange legal in the US?
Kraken is available to all U.S. residents, except those living in Washington and New York.
Do let me know in the comments if you’ve got any questions related to the Kraken exchange.
