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Kraken
The exchange that kept proving it could survive everyone else’s collapse.
Rate this app
7.9Solid
AlternativesOur take
Desk verdict
The grown-up alternative to Coinbase. Still not a bank.
Kraken is a US-founded crypto exchange that lived through Mt. Gox, FTX, and every sequel. It is in the register as the conservative liquidity venue next to Coinbase.
Kraken lists US MSB + exchange under FinCEN / state in United States. On safeguarding we currently write: Crypto not insured. Cash may be at partner banks.. An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 7 live markets on the product. As we score the sticker: monthly Maker-taker · staking extras; FX Tight on majors vs retail Coinbase; ATM N/A. This desk would open it for: Traders who want a US-rooted CEX that is not Coinbase.
What it does well: Survival record; Fees vs Coinbase retail; Culture of proof-of-reserves talk. What to watch: UX is less consumer; Support on locked accounts; Bank charter is a plot, not a product. Desk score 7.9 / 10 (safety 8.2, fees 8.0, features 8.0, app 7.6). Last verified 2026-08-01. Headquartered in San Francisco, United States; founded 2011. None of this is advice — it is a file so you can read the entity before the card colour.
Best for: Traders who want a US-rooted CEX that is not Coinbase.
Pros
- +Survival record
- +Fees vs Coinbase retail
- +Culture of proof-of-reserves talk
Cons
- −UX is less consumer
- −Support on locked accounts
- −Bank charter is a plot, not a product
How it actually works
- Custody
- Exchange omnibus / customer assets
- Local rails
- ACH / USD · Faster Payments
- Built for
- Investing
- Settlement
- On-chain + withdrawal queues
- Review risk
- Compliance holds on fiat ramps are common
- Pay surface
- No card rail listed
Safety
Crypto not insured. Cash may be at partner banks.
- FinCEN / stateUS MSB + exchange · United States
- VariousLocal VASP · EEA / UK / AU
Fees
- Monthly
- Maker-taker · staking extras
- FX markup
- Tight on majors vs retail Coinbase
- ATM
- N/A
Features
- –IBAN
- –Fee-free core
- ✓Multi-currency
- –Apple Pay
- –Google Pay
- –Virtual card
- –Physical card
- –Metal card
- –Crypto
- –Stocks
- –Business
- –Kids
- –Halal
- Spot and futures (entity)
- Staking
- OTC
- Kraken Bank charter pursuit (watch the news)
Score
- Safety25%
- 8.2
- Fees20%
- 8.0
- Features15%
- 8.0
- App15%
- 7.6
- Global15%
- 8.2
- Support10%
- 6.8
Change log
Full logNo dated notes yet. When the licence, fees, or status moves, it lands here.
FAQ
Is Kraken a bank?+–
Kraken is not a licensed deposit-taker in the classic sense. Treat the balance as a fintech ledger until you confirm the holder.
How is money protected?+–
Crypto not insured. Cash may be at partner banks.
Where is Kraken available?+–
We list 7 market desks on the desk. Residency and onboarding rules still sit with Kraken.
Card and wallets?+–
No card rail listed
Ratings and reviews
No published user reviews yet. The desk score still comes from licence, fees, and the product — not from a empty star average.
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