Kraken

Kraken

One of the top ten regulated cryptocurrency exchanges in the world by trading volume.

Scores

3
Overall
Very Bad
14
Privacy
Very Bad
61
Trust
Good
lvl. 4/4
Mandatory KYC
Required for key features and can be required arbitrarily at any time.

Overall = 60% Privacy + 40% Trust (Truncated)

Learn about scores All attributes list

Terms of Service Review

Kraken’s ToS mandates KYC verification for account creation and key services. Personal data is collected and may be shared for compliance. Funds can be blocked for legal reasons. High privacy risks due to mandatory identity checks.

Mandatory KYC

Kraken requires identity verification for account creation and use of services, including e-money wallets and certain features like Kraken Verify (Annex J).

Data Sharing

Personal information may be disclosed to third parties like credit agencies and authorities for fraud prevention and legal compliance (Section 1).

Transaction Monitoring

Kraken can reject or suspend transactions and accounts if suspicious activity is detected or for regulatory compliance (Sections 4, 15).

Account Suspension

Kraken reserves the right to suspend or terminate accounts without notice, potentially blocking access to funds for legal or security reasons (Section 15).

Reviewed from kraken.com/legal

ToS reviews are AI-generated and should be used as a reference only.

Events

View all
  1. Attribute change

    An attribute was removed (details unavailable)

Learn about events

Verification

Learn more
Verified

Thoroughly tested and verified by the team. But things might change, this is not a guarantee.

Comments

About comments

  • Comments are visible after approval.
  • Moderation is light.
  • Double-check before trusting.
3.5
4 ratings
5
25%
4
25%
3
25%
2
25%
1
0%

AI Summary

Updated

Users generally appreciate the exchange for its user-friendly app, wide crypto selection, and reasonable fees. However, concerns include strict KYC requirements and token delistings, which impact privacy and choice. Overall, it’s recommended for those okay with regulation but less ideal for privacy-focused users.

  • User-friendly app
  • Wide crypto selection
  • Reasonable fees
  • Strict KYC
  • Token delistings
silken_conglomerate_800
New User
0 5/5

Awesome exchange with good mobile apps, easy to use, trade and manage crypto, with seamless off ramp to any bank account. Highly recommended.

computerized_bulwark_9348
0 5/5
Unmoderated

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.

legitimate_incarnation_6562
0 2/5

fees are reasonable. But the strict KYC requirements and occasional token removals are a downside if you care about privacy and freedom.

scented_commendation_66
0 3/5

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.

social_pet_1554
0 4/5

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.