---
title: "Kraken Review 2026: Fees, Safety, Pros & Cons - Swan Bitcoin"
description: "Is Kraken legit and safe in 2026? Honest review: 1% instant-buy fee plus spread, Kraken Pro from 0.40%/0.80%, regulation, the delayed IPO."
url: https://www.swanbitcoin.com/industry/kraken-review/
---

# Kraken Review 2026: Fees, Safety, Pros & Cons - Swan Bitcoin

Is Kraken legit and safe in 2026? Honest review: 1% instant-buy fee plus spread, Kraken Pro from 0.40%/0.80%, regulation, the delayed IPO.

---

**Matt Ruby** · July 10, 2024 · Updated October 26, 2026

**Our verdict:** Kraken is a legitimate, long-running exchange with a strong regulatory record, and Kraken Pro is a solid fit for active traders. For buying Bitcoin to hold long term, the standard Kraken app is expensive. Instant buys cost a [1% fee plus a spread](https://www.kraken.com/features/fee-schedule), and card purchases add a processing fee on top. Kraken isn't available to residents of [Maine or New York](https://support.kraken.com/articles/quick-start-for-clients-in-the-united-states) (as of October 19, 2026).

## Kraken at a glance

- **Founded:** [2011 (San Francisco)](https://en.wikipedia.org/wiki/Kraken_%28cryptocurrency_exchange%29)
- **Public company?** No. Parent company Payward [filed confidentially for an IPO in November 2025 and froze the plan in March 2026](https://accessipos.com/kraken-ipo-stock/). [CoinDesk reported in September 2026](https://www.financemagnates.com/cryptocurrency/kraken-parent-pushes-ipo-to-q2-2027-at-earliest/) that it won't list before Q2 2027 at the earliest; Kraken declined to comment.
- **What you can trade:** Hundreds of coins, plus [US futures through NinjaTrader (Kraken Derivatives US)](https://support.kraken.com/articles/where-is-kraken-licensed-or-regulated)
- **Not available in:** [Maine, New York](https://support.kraken.com/articles/quick-start-for-clients-in-the-united-states); some features are limited in other states
- **Licenses:** [US state licenses and federal registrations, plus an EU license under the MiCA rules (Central Bank of Ireland)](https://support.kraken.com/articles/where-is-kraken-licensed-or-regulated)
- **Ratings:** [Trustpilot 3.2/5 (9,259 reviews)](https://www.trustpilot.com/review/kraken.com); [NerdWallet 5.0/5](https://www.nerdwallet.com/investing/reviews/kraken) (both as of October 19, 2026)

## Kraken fees in 2026

- **Buying or selling at the current price:** Kraken app (simple): [1% plus a variable spread](https://www.kraken.com/features/fee-schedule). Kraken Pro: [0.80% taker (under $2,500 of 30-day volume)](https://www.kraken.com/features/fee-schedule).
- **Limit or target-price orders:** Kraken app: [1.5% (custom orders)](https://www.kraken.com/features/fee-schedule). Kraken Pro: [0.40% maker](https://www.kraken.com/features/fee-schedule).
- **Higher-volume trading (Kraken Pro only):** [0.30%/0.60% from $2,500; 0.22%/0.38% from $10K; 0%/0.10% at $10M+](https://www.kraken.com/features/fee-schedule)
- **Debit or credit card (Kraken app):** [$0.25 + 3.75% on US debit card purchases](https://support.kraken.com/articles/360000381846-cash-deposit-options-fees-minimums-and-processing-times-), plus a spread. Kraken [shows the total before you confirm](https://support.kraken.com/hc/en-us/articles/360048212832-Debit-and-credit-card-purchases-with-Visa-Mastercard).
- **ACH deposit:** [Free via Plaid, $1 minimum](https://support.kraken.com/articles/360000381846-cash-deposit-options-fees-minimums-and-processing-times-). You can trade the funds right away, but there's a [7-day hold before you can withdraw](https://support.kraken.com/articles/8795459449492-how-do-i-fund-my-account-with-usd-using-ach-via-plaid-).
- **Bitcoin withdrawal (both):** [0.000015 BTC on-chain, minimum 0.000218 BTC](https://support.kraken.com/articles/360000767986-cryptocurrency-withdrawal-fees-and-minimums), per Kraken's table on October 26, 2026. Fees change, and Kraken shows the final fee when you confirm.

Kraken fees as of October 19, 2026. Kraken Pro tiers now use the better of your 30-day trading volume or the assets you hold on the platform ([fee schedule](https://www.kraken.com/features/fee-schedule)).

A $1,000 Bitcoin purchase in the Kraken app costs at least $10 plus the spread. The same purchase on Kraken Pro as a market order costs $8. [Kraken+](https://support.kraken.com/articles/kraken-faq-subscription-service-overview) members pay no app trading fee on up to $10,000 a month; the spread and card fees still apply. Kraken+ costs $4.99 a month or $49.99 a year, with a one-month free trial (as of September 17, 2026).

## What a Kraken Bitcoin purchase actually costs

Here is the trading fee on a one-time Bitcoin buy of $100, $1,000 and $10,000 on each route, worked out from the published fee schedules (as of October 19, 2026). Fees are before spreads, which Kraken's app and Kraken+ add on top. Kraken Pro rates are for a new account (under $2,500 of 30-day volume).

- **$100 buy:** Kraken app $1.00 plus spread. Kraken Pro $0.80. Kraken+ $0 trading fee, but $4.99 for the month's subscription, plus spread. Swan $1.00, or $0 for a new client's first $250.
- **$1,000 buy:** Kraken app $10.00 plus spread. Kraken Pro $8.00. Kraken+ $0 trading fee plus the $4.99 subscription and spread. Swan $10.00, or $7.50 for a new client (no fee on the first $250).
- **$10,000 buy:** Kraken app $100.00 plus spread. Kraken Pro $80.00. Kraken+ $0 trading fee (it covers up to $10,000 a month) plus the $4.99 subscription and spread. Swan $100.00, or $97.50 for a new client.

On fees alone, Kraken Pro is the cheapest way to make a one-off purchase on Kraken. Kraken+ only beats the app's 1% fee once you buy more than about $499 a month there ($4.99 ÷ 1%), and you still pay the spread. Sources: [Kraken fee schedule](https://www.kraken.com/features/fee-schedule), [Kraken+ FAQ](https://support.kraken.com/articles/kraken-faq-subscription-service-overview), [Swan fees](https://www.swanbitcoin.com/fees/).

## Is Kraken safe?

**Strengths**

- **A long history.** Kraken has run since [2011](https://en.wikipedia.org/wiki/Kraken_%28cryptocurrency_exchange%29) and came through the 2022 collapses of FTX, Celsius and others.
- **Regulatory problems are mostly behind it.** It [settled the SEC's staking charges in February 2023 for $30 million](https://www.theblock.co/post/210332/kraken-settles-sec-charges-over-its-staking-program) and shut its US staking program at the time. Kraken now offers [onchain staking to US clients outside a list of excluded states](https://support.kraken.com/articles/quick-start-for-clients-in-the-united-states). The SEC's separate November 2023 lawsuit was [dismissed with prejudice in March 2025](https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26278).
- **Proof of reserves.** Kraken publishes regular proof-of-reserves attestations by an independent accounting firm. The most recent one we found covers [balances as of December 31, 2025](https://blog.kraken.com/news/december-2025-proof-of-reserves), published February 5, 2026.
- **Licensed in Europe.** It holds an [EU license under the MiCA rules, issued by the Central Bank of Ireland](https://www.theblock.co/post/359751/kraken-secures-mica-license-in-ireland-to-scale-european-operations) and announced in June 2025.
- **Still expanding.** In September 2026, [Nasdaq agreed to invest $100 million in Payward](https://www.theblock.co/news/deals/2026-09-10-nasdaq-to-invest-100-million-in-kraken-parent-payward-as-firms-expand-partnership-414120) at a reported $21 billion valuation. In October 2026, Payward won [full approval from Dubai's regulator, VARA](https://bitcoinmagazine.com/news/kraken-parent-payward-wins-full-dubai-license-plans-uae-launch), and agreed to [buy Lithuania's Saldo Bank](https://www.coindesk.com/business/2026/10/14/kraken-parent-payward-to-become-first-crypto-firm-to-buy-a-eu-bank-as-it-expands-into-deposits-lending), a deal that still needs regulatory approval and is expected to close in 2027.

**Weaknesses**

- **Customer reviews are poor.** Kraken scores [3.2 out of 5 on Trustpilot](https://www.trustpilot.com/review/kraken.com), and half the reviews are 1-star (as of October 19, 2026). Many are about verification, frozen accounts and slow support.
- **The company is under pressure.** It [cut about 150 jobs in May 2026 and has delayed its IPO](https://accessipos.com/kraken-ipo-stock/).
- **It's still an exchange.** Bitcoin you leave on Kraken is held by Kraken. Exchanges are targets: in February 2025, [Bybit lost about $1.5 billion](https://bleepingcomputer.com/news/security/fbi-confirms-lazarus-hackers-were-behind-15b-bybit-crypto-heist) in the largest exchange theft on record.

### How Kraken protects your account

Kraken's [security page](https://www.kraken.com/features/security) lists these account protections:

- Two-factor authentication with FIDO2 passkeys
- No phone or SMS account recovery
- A configurable account timeout and a global settings time lock
- Email confirmation before a new withdrawal address is added
- Encryption of sensitive data at rest and in transit, and 24/7 live chat and email support for urgent issues
- A mix of cold storage and hot wallets for client funds, plus a bug bounty program for security researchers

### Past security incidents

In June 2024, a security researcher found a flaw that let accounts be credited with funds that were never deposited. Kraken said the researcher and two associates [withdrew nearly $3 million](https://thehackernews.com/2024/06/kraken-crypto-exchange-hit-by-3-million.html) using it. The bug was fixed, and Kraken said no client assets were at risk.

## Kraken customer support

Kraken offers [24/7 live chat and email support for urgent issues](https://www.kraken.com/features/security). Reviews of that support are mixed: Kraken scores [3.2 out of 5 on Trustpilot](https://www.trustpilot.com/review/kraken.com) (as of October 19, 2026), and many complaints are about identity verification, frozen accounts and slow replies.

## Pros and cons

**Pros**

- Long track record and strong regulatory record
- Low fees on Kraken Pro for active traders
- Lets you withdraw to your own wallet
- Strong account security ([passkey 2FA, a global settings lock, email confirmation for new withdrawal addresses](https://www.kraken.com/features/security))
- EU license under the MiCA rules

**Cons**

- 1% fee plus spread in the main app
- Not available in New York or Maine
- Card purchases cost extra
- Many complaints about support and verification
- Lists hundreds of altcoins, which distracts from Bitcoin for long-term savers

## Kraken alternatives

If you're comparing Kraken with other places to buy Bitcoin, these Swan reviews cover the most common alternatives:

- **Coinbase:** [Is Coinbase safe?](https://www.swanbitcoin.com/industry/is-coinbase-safe/) and [Is Coinbase in trouble?](https://www.swanbitcoin.com/industry/is-coinbase-in-trouble/)
- **Robinhood:** [Robinhood fees, explained](https://www.swanbitcoin.com/industry/robinhood-fees/)
- **Binance:** [Is Binance in trouble?](https://www.swanbitcoin.com/education/is-binance-in-trouble/)
- **Side-by-side comparisons:** [the best Bitcoin exchanges](https://www.swanbitcoin.com/education/bitcoin-exchanges/) and [the most trusted Bitcoin investment sites](https://www.swanbitcoin.com/industry/bitcoin-investment-sites/)

## How Kraken and Swan compare for Bitcoin savers

- **Fee to buy:** Kraken app: [1% plus a spread](https://www.kraken.com/features/fee-schedule). Swan: [1% (first $250 free)](https://www.swanbitcoin.com/fees/).
- **Recurring buys:** Kraken app: [Yes (1%)](https://www.kraken.com/features/fee-schedule). Swan: Yes, the core product.
- **Automatic withdrawals to your own wallet:** Kraken app: No. Swan: Yes, [free](https://www.swanbitcoin.com/fees/).
- **Bitcoin IRA:** Kraken app: No. Swan: Yes ([Swan IRA](https://www.swanbitcoin.com/bitcoin-ira/)).
- **Coins offered:** Kraken app: Hundreds. Swan: Bitcoin only.

Fees as of October 19, 2026.

If you trade actively, Kraken Pro is cheaper than most apps. If you're saving in Bitcoin, a Bitcoin-only service with automatic withdrawals to [a wallet you control](https://www.swanbitcoin.com/education/best-bitcoin-wallet/) keeps both costs and risk lower.

## Frequently Asked Questions

### Is Kraken legit?

Yes. Kraken is a regulated exchange founded in 2011, registered with US regulators, licensed in US states and licensed in the EU under MiCA.

### Is Kraken safe?

It has a strong security and regulatory record and publishes proof-of-reserves attestations, but Bitcoin left on any exchange is held by that exchange. For long-term savings, move it to a wallet you control.

### What are Kraken's fees?

1% plus a spread for instant buys in the app, as of October 2026; 0.40% maker and 0.80% taker on Kraken Pro for small traders.

### Is Kraken Pro cheaper than the Kraken app?

Yes, on fees. A market order on Kraken Pro costs 0.80% for a new account, against 1% plus a spread in the app; limit orders on Pro cost 0.40%, against 1.5% for custom orders in the app (as of October 2026).

### Does Kraken have a subscription?

Yes. Kraken+ costs $4.99 a month or $49.99 a year and removes the app trading fee on up to $10,000 of purchases a month. Spreads and card fees still apply (as of September 2026).

### Is Kraken available in the US?

Yes, except for residents of Maine and New York, as of October 2026. Some features are limited in other states.

### Is Kraken a public company?

No. Its IPO was put on hold in 2026, and CoinDesk reported in September 2026 that it won't happen before Q2 2027 at the earliest.

## Sources

- [Kraken fee schedule (checked Oct 19, 2026)](https://www.kraken.com/features/fee-schedule)
- [Kraken instant buy FAQ (updated Sep 16, 2026)](https://support.kraken.com/articles/360060101312-faq-s-about-buying-instantly)
- [Kraken card purchases support page (updated Oct 7, 2026)](https://support.kraken.com/hc/en-us/articles/360048212832-Debit-and-credit-card-purchases-with-Visa-Mastercard)
- [Kraken cash deposit options: fees and minimums (updated Oct 20, 2026)](https://support.kraken.com/articles/360000381846-cash-deposit-options-fees-minimums-and-processing-times-)
- [Kraken ACH deposits via Plaid (updated Oct 20, 2026)](https://support.kraken.com/articles/8795459449492-how-do-i-fund-my-account-with-usd-using-ach-via-plaid-)
- [Kraken+ FAQ (updated Sep 17, 2026)](https://support.kraken.com/articles/kraken-faq-subscription-service-overview)
- [Kraken US quick start (state availability, staking; checked Oct 19, 2026)](https://support.kraken.com/articles/quick-start-for-clients-in-the-united-states)
- [Where Kraken is licensed or regulated (checked Oct 19, 2026)](https://support.kraken.com/articles/where-is-kraken-licensed-or-regulated)
- [Kraken security features (checked Oct 22, 2026)](https://www.kraken.com/features/security)
- [Kraken blog: live in Washington state (Jul 16, 2025)](https://blog.kraken.com/news/welcome-washington-state)
- [Kraken December 2025 proof of reserves (published Feb 5, 2026)](https://blog.kraken.com/news/december-2025-proof-of-reserves)
- [Kraken withdrawal fees and minimums (checked Oct 26, 2026)](https://support.kraken.com/articles/360000767986-cryptocurrency-withdrawal-fees-and-minimums)
- [NerdWallet Kraken review (checked Oct 19, 2026)](https://www.nerdwallet.com/investing/reviews/kraken)
- [Trustpilot Kraken (checked Oct 19, 2026)](https://www.trustpilot.com/review/kraken.com)
- [IPO pushed to Q2 2027, Finance Magnates citing CoinDesk (Sep 3, 2026)](https://www.financemagnates.com/cryptocurrency/kraken-parent-pushes-ipo-to-q2-2027-at-earliest/)
- [IPO timeline, AccessIPOs (updated Oct 4, 2026)](https://accessipos.com/kraken-ipo-stock/)
- [Nasdaq $100M investment, The Block (Sep 10, 2026)](https://www.theblock.co/news/deals/2026-09-10-nasdaq-to-invest-100-million-in-kraken-parent-payward-as-firms-expand-partnership-414120)
- [Dubai VARA approval, Bitcoin Magazine (Oct 13, 2026)](https://bitcoinmagazine.com/news/kraken-parent-payward-wins-full-dubai-license-plans-uae-launch)
- [Saldo Bank acquisition, CoinDesk (Oct 14, 2026)](https://www.coindesk.com/business/2026/10/14/kraken-parent-payward-to-become-first-crypto-firm-to-buy-a-eu-bank-as-it-expands-into-deposits-lending)
- [SEC lawsuit dismissed, SEC LR-26278 (Mar 27, 2025)](https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26278)
- [2023 staking settlement, The Block (Feb 9, 2023)](https://www.theblock.co/post/210332/kraken-settles-sec-charges-over-its-staking-program)
- [MiCA license, The Block (Jun 25, 2025)](https://www.theblock.co/post/359751/kraken-secures-mica-license-in-ireland-to-scale-european-operations)
- [June 2024 exploit, The Hacker News (Jun 2024)](https://thehackernews.com/2024/06/kraken-crypto-exchange-hit-by-3-million.html)
- [Bybit hack, BleepingComputer (Feb 2025)](https://bleepingcomputer.com/news/security/fbi-confirms-lazarus-hackers-were-behind-15b-bybit-crypto-heist)
- [Kraken founding, Wikipedia (checked Oct 19, 2026)](https://en.wikipedia.org/wiki/Kraken_%28cryptocurrency_exchange%29)
- [Swan fees (checked Oct 19, 2026)](https://www.swanbitcoin.com/fees/)

## Matt Ruby

Matt Ruby is a seasoned content writer helping educate million worldwide about Bitcoin for Swan. Matt work with tech companies to create words, videos, and other content that makes them seem human. He specializes in taking boring/drab tech topics and making them interesting, educational, funny, and accessible to regular people.