In October 2025, Kraken agreed to acquire Small Exchange, a CFTC‑regulated futures venue, in a $100 million deal that paves the way for a fully U.S.-native derivatives platform.
Kraken's toolkit prioritizes regulated access and pro‑grade controls over hype features. Compared with offshore venues that push higher leverage or broader small‑cap listings, Kraken focuses on spot, margin, and regulated derivatives, plus strong fiat rails.
Core Kraken exchange features include spot and margin order books, perpetual futures where allowed, fiat on‑ and off‑ramps, staking products, token launches via Kraken Launch, full API access, and the Kraken Wallet for self‑custody. As of Oct.-Nov. 2025, it offers perpetual futures with up to 10x buying power for most retail clients outside the U.S./UK, and U.S. clients can access CME‑listed futures via Kraken Derivatives US (launched Jul. 15, 2025).
Kraken's simple‑buy and brokerage layer lives in the main Kraken app. Crypto buyers can deposit cash by ACH, SEPA, Faster Payments, or card and then tap to buy a fixed amount of BTC, ETH, or other assets without touching order books; U.S. clients who qualify for equities can use the same interface to buy and sell U.S.-listed stocks and ETFs for cash.
Simple-buy crypto orders use a fixed 1% trading fee plus a variable spread on top of mid-market. The all‑in rate, including any spread and card or wallet processing fees, is shown on the confirmation screen before you commit. Published minimums start around 1 unit of local currency for buy/sell orders and around 10 units for card and digital wallet payments.
Some smaller assets are available only via the advanced Pro view, while others appear in both simple‑buy and Pro. Equities access is limited to eligible U.S. clients and is not available in all states. Daily or rolling limits can apply to card and wallet purchases, with higher limits available for bank transfers.
For active traders, fees are usually lower when placing limit orders on Kraken Pro than when using simple‑buy. The simple‑buy flow trades higher costs for fewer steps and less complexity, which can suit first‑time buyers and small, infrequent orders.
Product scope and yields. Kraken offers Opt‑In Rewards on around 25 proof‑of‑stake assets (for example, ETH, DOT, ATOM) alongside separate on‑chain staking services for certain networks. Advertised rates can reach the high‑teens APR range, vary by asset and network, and can change over time. The products are custodial and administered by Kraken; rewards are sourced from on‑chain staking activity.
Fees/commission and payout cadence. Displayed yields are net of Kraken's commission. Rewards typically accrue and pay out weekly to your spot balance. Most assets have no fixed lockup on the platform, though protocol‑level unbonding periods may apply where relevant. The app shows reward history and current APR per asset.
Eligibility, limits, and exit. Opt-In Rewards are not available to U.S. clients. Separate on-chain staking services are offered in many U.S. states, while access for UK retail and some EEA markets is restricted under local rules. Intermediate verification is required. Per-asset minimums apply; exiting is immediate on the platform, but on-chain unbonding delays can affect when funds become fully transferable. For up-to-date regional availability, see KYC and geographic access.
Yields vary and are not guaranteed.
Availability and access. Kraken has no built‑in copy trading at this time. The platform allows third‑party bots via API keys, and lists ecosystem partners for advanced tooling. Bots and copy features, if used, are accessed through external providers. Intermediate verification on Kraken is required to trade.
Kraken is not a decentralized exchange (DEX) and does not run a peer‑to‑peer (P2P) marketplace. Trading happens on a central order book and Kraken holds custody of your funds unless you withdraw to a self‑custody wallet.
At the time of writing, Kraken runs Kraken Launch for token sales and Kraken Drops for issuer airdrops. These products give verified users access to new tokens and campaigns ahead of or alongside exchange listings, with per-sale rules on caps, fees, and regional access. Token launches and airdrops are high risk; always read the official Launch or Drops terms before participating.
Kraken accounts are custodial by default. For self-custody, Kraken offers Kraken Wallet, an open-source mobile app where keys stay on your device. You move assets between the exchange and wallet via on-chain deposits and withdrawals, paying standard network fees. Kraken Wallet supports major networks like Bitcoin, Ethereum, Polygon, Arbitrum, Optimism, Solana, Dogecoin, Base, and Blast, with dApp and NFT support where available.
Kraken provides REST, WebSocket, and FIX APIs covering market data, trading, account, and funding. Requests use HMAC-signed API keys with granular scopes and optional IP allowlists, and higher verification tiers unlock higher limits. There is no public spot sandbox, but a demo environment exists for futures. Full specifications and SDKs live in the Kraken API Center.
Tax tooling and reporting. Users can export full account history and tax reports in CSV/Excel and connect third-party tax tools; U.S. clients may receive 1099 forms where required.
Institutional/Prime. Institutions get OTC/RFQ block trading, multi-user account controls, higher limits, and priority support, with settlement in major fiat and stablecoins.
Web3 and NFT. Kraken Wallet supports WalletConnect, dApp signing, and NFT viewing on supported networks, but there is no native NFT marketplace on the exchange.