Kraken has begun sending a notice to XMR traders on their platform in which they announce new limits on Monero deposit and withdrawals.These changes will enter into effect August 15th. The exchange cites risk-based compliance controls as the main reason behind this increased scrutiny. For individual accounts in any given 30-day period, the deposit limit will be $3,500 while the withdrawal limit will be $1,000. For corporate accounts in the same rolling period, $30,000 will be the limit for deposits and $10,000 for withdrawals. Kraken states that individuals wanting higher limits can ask for them through a whitelisting review process, where additional information involving SoF, trading purpose or expected volume will likely be requested. Finally, Kraken recommends proactively contacting support and initiating the review process if you expect your future trading activity to be higher than the new limits.
Repeated checks over time passed
One of the top ten regulated cryptocurrency exchanges in the world by trading volume.
Kraken is an exchange service that accepts Bitcoin, Fiat, and Cash. It requires KYC and has a score of 3/10. There are 7 user ratings averaging 3.9/5.
Scores
- Mandatory KYC
- Required for key features, and may be required arbitrarily at any time.
- May require KYC/SOF by policy/law -6 -4
If obliged by law or in accordance with the service's internal policy, this service may at any time require mandatory procedures such as identity verification, KYC or provide Source of Funds (SOF) information.
If obliged by law or in accordance with the service's internal policy, this service may at any time require mandatory procedures such as identity verification, KYC or provide Source of Funds (SOF) information.
-6 Privacy-4 Trust - KYC depends on partners -5 0
This service routes through partner providers whose KYC policies vary. Your actual experience depends on which partner is used for a given swap.
This service routes through partner providers whose KYC policies vary. Your actual experience depends on which partner is used for a given swap.
-5 Privacy0 Trust - May Freeze or Seize Funds 0 -3
These services use internal checks to monitor for suspicious activity. If a transaction is flagged as suspicious, your funds may be frozen or seized. Sometimes they allow users to unlock funds by providing Source of Funds information, or KYC.
These services use internal checks to monitor for suspicious activity. If a transaction is flagged as suspicious, your funds may be frozen or seized. Sometimes they allow users to unlock funds by providing Source of Funds information, or KYC.
0 Privacy-3 Trust - Transaction monitoring -1 0
Deposits are analyzed for blacklisted sources. This service automatically scans transactions AML scores. Flagged transactions may require KYC/SoF verification to complete the trade or unfreeze funds. Resolution depends on the individual service's policy, as some may issue refunds without verification.
Deposits are analyzed for blacklisted sources. This service automatically scans transactions AML scores. Flagged transactions may require KYC/SoF verification to complete the trade or unfreeze funds. Resolution depends on the individual service's policy, as some may issue refunds without verification.
-1 Privacy0 Trust - Transaction monitoring -1 0
Deposits are analyzed for blacklisted sources. This service automatically scans transactions AML scores. Flagged transactions may require KYC/SoF verification to complete the trade or unfreeze funds. Resolution depends on the individual service's policy, as some may issue refunds without verification.
Deposits are analyzed for blacklisted sources. This service automatically scans transactions AML scores. Flagged transactions may require KYC/SoF verification to complete the trade or unfreeze funds. Resolution depends on the individual service's policy, as some may issue refunds without verification.
-1 Privacy0 Trust - Own liquidity 0 +2
The service runs its own liquidity, so there is no third-party LP that could independently demand KYC or block funds.
The service runs its own liquidity, so there is no third-party LP that could independently demand KYC or block funds.
0 Privacy+2 Trust
- Mandatory KYC -25 0
Required for key features, and may be required arbitrarily at any time.
Required for key features, and may be required arbitrarily at any time.
-25 Privacy0 Trust - Custodial wallet -3 -5
These services manage your private keys and keep custody your funds. These wallets are typically offered by centralized exchanges like Coinbase or Binance. Using them requires trusting the institution with your assets.
These services manage your private keys and keep custody your funds. These wallets are typically offered by centralized exchanges like Coinbase or Binance. Using them requires trusting the institution with your assets.
-3 Privacy-5 Trust - May suspend your account 0 -4
The service reserves the right to suspend or limit access to your account. For example, if you have overdue payments or you violated the service's ToS.
The service reserves the right to suspend or limit access to your account. For example, if you have overdue payments or you violated the service's ToS.
0 Privacy-4 Trust - Data Sharing -3 0
Personal and account data may be shared with authorities and third-party providers for compliance, fraud prevention, and service provision.
Personal and account data may be shared with authorities and third-party providers for compliance, fraud prevention, and service provision.
-3 Privacy0 Trust - Account required -1 0
Users require creating an account with the service in order to access and use its features.
Users require creating an account with the service in order to access and use its features.
-1 Privacy0 Trust - Verified 0 +10
Passed repeated checks over time and showed consistent behavior. Read more about the listing statuses.
Passed repeated checks over time and showed consistent behavior. Read more about the listing statuses.
Check out the proof.
0 Privacy+10 Trust - Audited 0 +5
The service has been audited by an independent 3rd party.
- Good Customer Support 0 +5
Customer support for this service is usually fast and helpful. They answer questions fast and solve problems.
Customer support for this service is usually fast and helpful. They answer questions fast and solve problems.
0 Privacy+5 Trust - Legally registered 0 +2
Legally registered as Payward Interactive, Inc. in United States 🇺🇸.
Legally registered as Payward Interactive, Inc. in United States 🇺🇸.
0 Privacy+2 Trust - Email required 0 0
To create a user account in this service, you need to provide a valid email.0 Privacy0 Trust - JavaScript needed 0 0
The service requires the user to enable JavaScript in order to access and use its features.0 Privacy0 Trust - Some countries are restricted 0 0
Offered services may not be available in some countries due to logistics, regulations or arbitrary decisions. Please check for any restrictions before use.
Offered services may not be available in some countries due to logistics, regulations or arbitrary decisions. Please check for any restrictions before use.
0 Privacy0 Trust - Base score +50 +50
Terms of Service Review
Kraken operates a centralized cryptocurrency exchange requiring mandatory identity verification. It offers custodial and non-custodial features but retains broad rights to suspend accounts and funds.
Mandatory biometric KYC
You must verify your identity to use the service, which may require providing a passport, driver’s license, and selfie photos or videos processed using biometric data extraction technologies.
Extensive data sharing
Kraken reports and shares personal and transaction data with payment partners, third-party analytics providers, credit agencies, and global law enforcement or regulatory authorities.
Broad suspension rights
Kraken reserves the right to suspend, restrict, or terminate your account and reject any deposit, withdrawal, or trade at any time without liability or prior notice.
120-day deposit hold
Kraken may place a 120-day "Unsecured Deposit Hold" on your account for payments made using credit cards or specific money transfers, preventing you from withdrawing those funds until the hold clears.
Automated decision-making
Kraken may restrict your account based on automated processing. While you can contest automated decisions and request human intervention, Kraken may refuse to provide services if you do so.
Trade correction rights
In the event of a system or executed error, Kraken reserves the right to revise or cancel transactions, change executed prices, and deduct funds from your account to correct the error.
Clear asset ownership
Digital assets held in your account remain your property at all times. Kraken explicitly states it does not treat customers' digital assets as its own property or subject them to creditor claims.
Non-custodial wallet option
Kraken offers an optional, non-custodial wallet service where private keys are generated and stored locally or within a secure cloud enclave. Kraken does not control or access these private keys.
Reviewed from kraken.com/legal/global-terms
ToS reviews are AI-generated and should be used as a reference only.
Events
View all-
Ongoing since
New deposit & withdrawal limits! | Effective Aug 15
SourceKraken has begun sending a notice to XMR traders on their platform in which they announce new limits on Monero deposit and withdrawals.These changes will enter into effect August 15th. The exchange cites risk-based compliance controls as the main reason behind this increased scrutiny. For individual accounts in any given 30-day period, the deposit limit will be $3,500 while the withdrawal limit will be $1,000. For corporate accounts in the same rolling period, $30,000 will be the limit for deposits and $10,000 for withdrawals. Kraken states that individuals wanting higher limits can ask for them through a whitelisting review process, where additional information involving SoF, trading purpose or expected volume will likely be requested. Finally, Kraken recommends proactively contacting support and initiating the review process if you expect your future trading activity to be higher than the new limits.
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Attribute added
Attribute "Own liquidity" was added to Kraken
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Attribute added
Attribute "May Freeze or Seize Funds " was added to Kraken
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Attribute added
Attribute "Transaction monitoring" was added to Kraken
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Attribute added
Attribute "KYC depends on partners" was added to Kraken
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Attribute added
Attribute "May require KYC/SOF by policy/law" was added to Kraken
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KYC update
KYC level changed from 1 to 4
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KYC update
KYC level changed from 4 to 1
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Attribute change
An attribute was removed (details unavailable)
Evidence and Review History
Passed repeated checks over time and showed consistent behavior.
- No review checks have been published yet
- Last review Apr 21
- Verified Apr 21
Comments
Great exchange with many coins and tokens to trade. However without KYC you can't do anything and 72 hour withdraw lock after first purchase. Beside KYC, great exchange.
Awesome exchange with good mobile apps, easy to use, trade and manage crypto, with seamless off ramp to any bank account. Highly recommended.
I've been using Kraken for several years now. The fee structure is pretty good, particularly if you trade more than US$50k per month, there is a rapid drop in the fees. Withdrawl fees are acceptable, and I've never had problems to withdrawl any crypto on any network. I have never withdrawn fiat back to my bank account, but there are also fees for that too. I have never had any funds blocked.
KYC is fairly extensive. I don't remember exactly what I needed to provide, but i think it was a photo of a passport, plus obviously name, address, stuff like this. Account is linked to one specific country. So no matter in the world where you are, you are tied to restrictions for that location. If you are a UK user, then UK restrictions apply. That means you cannot buy Monero on Kraken if you are a UK customer.
The REST API is excellent. If you are a developer and can invest time in building an automated strategy, then Kraken's API is brilliant for this.
What puts me off Kraken is their announcement to comply with CARF. This essentially means that from 1st January 2026, Kraken is obligated to provide details about transactions and trades to the UK government, which is a massive breach of privacy. There will therefore be tax implications for all users making bidirectional trades on Kraken. Also, withdrawls to any public-ledger private wallets may be compromised (e.g. Ethereum networks, Bitcoin, etc.), because Kraken may report these public addresses to the UK government so that they can then monitor your Assets via the various explorers and "make a determination about how much tax YOU need to pay".
tl;dr; Kraken is an excellent centralized exchange but now appears to be shtng on their user's privacy by reporting to the government.
fees are reasonable. But the strict KYC requirements and occasional token removals are a downside if you care about privacy and freedom.
In General a good Exchange. They De-listed Monero and a few other Tokens. They added a strong KYC requirement when they changed to a new Partner in the EU.
Of all the crypto exchanges I have used, Kraken Pro is one of the best. The app is user-friendly, offers a wide selection of cryptocurrencies, and has reasonable fees. Additionally, you can withdraw cryptocurrencies for a low fee.
However, the KYC process is bad. That's why I'm deducting one star. However, if you are looking for a regulated exchange where you can easily buy and sell and don't mind the KYC check, you should take a look at Kraken.
Seems to have some rather annoying bugs with login sessions especially on mobile rather annoying but otherwise the service works, also fees not great.