Kraken
good trust · scored on blocks worth 85 of 100 points
Affiliate link: we may be paid. It does not affect the score. 18+ only.
What people say
Ratings from our readers and fresh reviews from the exchange app's users.
Freekonomist readers' ratings
Give the exchange 1 to 5 stars and say briefly why. One rating per account, you can change it. Not part of the score.
App Store reviews
Latest 40 reviews: ★ 4.5 on average, complaints (1–2 stars) 10%. 🇺🇸 🇬🇧 🇨🇦
Best app evr!!
Very user friendly and anything you don’t understand, they hold your hand until you do, so thank you, thank you for your help and patience with me. I was blind and because of Kraken, I can see😃
Creditguyai · 🇺🇸 2026-10-19 · App Store ↗Show all reviews (40)
Excelente
Aplicación intuitiva, fácil de usar, muy rápida.
Chechan Medina · 🇺🇸 2026-10-18 · App Store ↗Support is slow
I used to love kraken but when your funds are held and it’s all the money you have and it’s been the better part of 5 days and support still hasn’t gave me answers it makes me want to never use the platform again this will be my last time use ing the app for sure
Derjcn · 🇺🇸 2026-10-18 · App Store ↗Amazing!
I’ve used a handful of exchange apps, wallets, dapps…Kraken is the most user friendly and easiest to use by far!
jaker85! · 🇺🇸 2026-10-18 · App Store ↗great app
really enjoy it so far, and the verification is thorough but accessible.
Kevinlukelewis · 🇺🇸 2026-10-18 · App Store ↗Lovely UI
Also one of the best rates! Almost double the staking % from Coinbase
CloudNine201 · 🇬🇧 2026-10-18 · App Store ↗Very happy
I recently sent money on crypto.com and it cost me and arm and a leg after being referred to this site from friends it will be my site of choice
G crv · 🇨🇦 2026-10-18 · App Store ↗Terrible
Finally started making money from it than it would tell me I couldn’t pull my money out, than it would say cant get a pricing, this app takes your money ! Don’t expect to make anything without the app making that you can’t take money out when you finaly make a profit than taking half when you want to pull it out. Ridiculous and NOT HAPPY!!
pffft waste · 🇨🇦 2026-10-17 · App Store ↗Awesome Crypto exchange
Easy crypto purchases and interface easy to navigate. Fees aren’t bad as well. Great with big deposits and withdrawal.
TomBradysLegend · 🇺🇸 2026-10-16 · App Store ↗Ruined a good app
The app used to be so good—not cluttered, easy to navigate, and very user friendly. With this recent update, the main page is overrun with twitter/x posts and articles. They’re literally half of the screen. The worst part is, there isn’t a way (that I’m able to find) to hide this unwanted, intrusive, blatantly money-grabbing garbage. The only reason it gets 2 stars is because the app still functions as it did, but the social media posts and “news” articles need to go.
——-SM——- · 🇺🇸 2026-10-16 · App Store ↗Easy to use
I’m new to cryptocurrency but Kraken made it easy to understand what is what.
Zorrito808 · 🇺🇸 2026-10-16 · App Store ↗Very convenient and easy symbol
Best thing you’ll find everything here stock oil, gold selver
jejdidixbdbfgdhsj · 🇺🇸 2026-10-16 · App Store ↗Kraken mobile app review
It’s been fantastic, and easy to use. Kraken is constantly updating the app with improvements to not only functions and appearance, but also with new stocks, stable coins and cryptos. Plus they are constantly offering great deals for fee reductions and way for staking and earning money on your interest.
M.R.Adams · 🇺🇸 2026-10-16 · App Store ↗Kraken
I have been pleased with kraken. It makes it easy to invest in crypto and the traditional markets.
Dwhitbayourunner · 🇺🇸 2026-10-16 · App Store ↗Easy to use, tons of different investments
Would highly recommend
Spendnonkey · 🇺🇸 2026-10-16 · App Store ↗Very strong and smooth service
Smooth and clean service
Lauren Latour · 🇺🇸 2026-10-15 · App Store ↗Wire transfer and Bitcoin purchase
Very quick and confirmed instantly
DeshBec · 🇺🇸 2026-10-15 · App Store ↗Kraken Must Download
Best Crypto trading platform in the United States
omeezyy · 🇺🇸 2026-10-14 · App Store ↗Things are improving
I’m enjoying using Kraken more all the time!!
Solarken · 🇺🇸 2026-10-14 · App Store ↗Easy Exchange
Kraken is one of the easiest and safest exchanges I’ve used and highly recommend for both beginners and advanced or experienced traders on their advanced platform.
Fire caddie · 🇺🇸 2026-10-13 · App Store ↗Kraken is my go to!!
Great experience and easy to navigate!
Cattledoglover · 🇺🇸 2026-10-13 · App Store ↗F
Easy to use kraken plus is worth the $5 a month if you invest regularly
fhdndbndndn · 🇺🇸 2026-10-13 · App Store ↗My funds is stuck
Basically trying to get help to locate my funds says I have funds but can’t trade or withdraw. The help specialist taking forever to get help… leaving a one star because of this.
Noobmark · 🇺🇸 2026-10-13 · App Store ↗Money withdraw situation
It takes no matter what 5-10 days for you to get your own money back and you don’t find that out until after be careful
DukcMySikc3 · 🇺🇸 2026-10-13 · App Store ↗Fresh App Store reviews as they are: we neither edit nor pick them. They are not part of the score; the App Store average is.
Licences
23.5 / 25Where the exchange is legal: licences and registrations from regulators' registers, minus bans and fines.
Confirmed in regulators' registers
- 🇮🇪 IrelandlicenceCentral Bank of Ireland · Payward Europe Solutions Limited (LEI 254900641D8KNHUZYX24) · № C468360source ↗
- 🇮🇪 IrelandlicenceCentral Bank of Ireland · Payward Global Solutions Limited (LEI 9845003D98SCC2851458) · № C559106source ↗
- 🇨🇾 CypruslicenceCyprus Securities and Exchange Commission (CySEC) · Payward Europe Digital Solutions (CY) Limited (ex I.F. Greenfields Wealth Ltd) · № 342/17source ↗
- 🇬🇧 United KingdomregistrationFinancial Conduct Authority (FCA) · Payward Ltd. · № FRN 928768source ↗
- 🇬🇧 United KingdomlicenceFinancial Conduct Authority (FCA) · Payward Services Limited · № FRN 1010381source ↗
- 🇬🇧 United KingdomlicenceFinancial Conduct Authority (FCA) · Crypto Facilities Ltd (Kraken MTF/derivatives) · № FRN 757895source ↗
- 🇺🇸 United StateslicenceWyoming Division of Banking · Kraken Financial (Kraken Bank)source ↗
- 🇧🇲 BermudalicenceBermuda Monetary Authority · Payward Digital Solutions Ltd. · № 202403268source ↗
- 🇦🇪 United Arab EmirateslicenceVirtual Assets Regulatory Authority (VARA) · Payward FZCO · № VL/26/10/002source ↗
- 🇦🇷 ArgentinaregistrationComisión Nacional de Valores (CNV) · Payward Trading Ltd. - SSE · № PSAV matrícula 155source ↗
Claimed, not confirmed in a register
- 🇮🇪 IrelandlicenceCentral Bank of Ireland · Payward Ireland Limited · № C453020source ↗
- 🇺🇸 United StatesregistrationFinCEN · Payward Interactive, Inc. · № 31000270997766source ↗
- 🇺🇸 United StateslicenceState regulators via NMLS (NMLS ID 1843762) · Payward Interactive, Inc. · № NMLS 1843762source ↗
- 🇺🇸 United StatesregistrationSEC / FINRA · Kraken Securities LLCsource ↗
- 🇺🇸 United StatesregistrationCFTC / NFA · NinjaTrader Clearing, LLC (dba Kraken Derivatives US) · № NFA ID 0309379source ↗
- 🇺🇸 United StatespendingNYDFSsource ↗
- 🇨🇦 CanadaregistrationFINTRAC · Payward Canada, Inc. · № M19343731source ↗
- 🇨🇦 CanadaregistrationOntario Securities Commission / CSA · Payward Canada, Inc.source ↗
- 🇦🇺 AustraliaregistrationAUSTRAC · Bit Trade Pty Ltd (ACN 163 237 634)source ↗
Regulator actions
- 🇺🇸 United Statesfine · 2022-11Nov 2022: OFAC settlement $362,158.70 for apparent Iran sanctions violationssource ↗
- 🇺🇸 United Statesfine · 2023-02Feb 2023: SEC settlement, $30M, staking-as-a-service program discontinued for US clientssource ↗
- 🇺🇸 United Statescase closed · 2023-11Nov 2023: SEC sued Kraken as unregistered exchange/broker/clearing agency; dismissed with prejudice Mar 2025, no penaltysource ↗
- 🇺🇸 United Statesfine · 2021-09Sep 2021: CFTC $1.25M penalty for illegal off-exchange margin tradingsource ↗
- 🇦🇺 Australiafine · 2024-12Dec 2024: Federal Court ordered Bit Trade (Kraken) to pay A$8M after ASIC action over margin product without TMDsource ↗
- 🇮🇳 Indiaban · 2023-12Dec 2023: FIU-IND show-cause notice to Payward Trading Ltd; asked MeitY to block Kraken URLssource ↗
- 🇵🇭 Philippineswarning · 2025-08Aug 2025: Philippine SEC advisory lists Kraken among 10 unregistered crypto platforms (sites then blocked by telcos)source ↗
Does not serve, by its own terms
🇦🇫 Afghanistan🇧🇾 Belarus🇨🇺 Cuba🇨🇩 Congo - Kinshasa🇮🇷 Iran🇮🇶 Iraq🇯🇵 Japan🇱🇾 Libya🇰🇵 North Korea🇷🇺 Russia🇸🇩 Sudan🇸🇸 South Sudan🇸🇾 Syria🇺🇦 Ukraine
Reserves
14 / 20Proof of reserves: is there one, who checked it, how fresh it is and whether coins cover every client balance.
Security
8 / 15Past hacks and whether clients were made whole, the insurance fund.
Hacks
- 2024-06-09$3.0M · clients made wholeIn June 2024 CertiK researchers exploited a deposit bug to withdraw about $3M from Kraken; the funds were returned (minus fees) and no client assets were lost.source ↗
Insurance fund
The exchange does not disclose an insurance fund. source ↗
Liquidity
10 / 15Real BTC order-book depth within ±2% and futures open interest.
What people say
8.5 / 10App Store ratings across countries, weighted by the number of reviews.
🇺🇸 ★ 4.74 (35,872)🇬🇧 ★ 4.66 (5,975)🇩🇪 ★ 4.54 (3,324)🇫🇷 ★ 4.62 (2,839)🇮🇹 ★ 4.69 (1,594)🇪🇸 ★ 4.63 (1,573)🇦🇺 ★ 4.6 (1,446)🇳🇱 ★ 4.66 (1,335)
What the internet says
Across sources from roughly April to October 2026, users and reviewers describe a mixed experience: some app-store and independent reviews praise the interface and trading features, while complaints most often concern delayed or held withdrawals, account restrictions, and support that users find slow or automated. Fee concerns focus on instant trading and certain crypto withdrawals; the available sources do not establish that complaints are representative of all Kraken customers.
- Some app-store reviews and independent reviewers praise the interface, usability, and advanced trading features.
- App-store ratings cited by reviewers were generally high, though ratings vary by app and storefront.
- Kraken states that it offers round-the-clock support; some reviewers report issues resolved within a day or two.
- Trustpilot and Reddit posts in the period repeatedly describe withdrawals held or delayed, sometimes alongside account restrictions, unclear timelines, and slow or automated support. These are individual reports, not proof that every hold reflects wrongdoing or that funds were permanently lost.
- Independent reviews and app feedback describe fees as potentially high, especially for instant trades and some small crypto withdrawals; reviewers also note slow or cumbersome app experiences. KYC and security/compliance checks can involve requests for more information and account restrictions.
- On security, April 2026 reporting said two insider-related incidents potentially exposed support data for about 2,000 accounts; Kraken said there was no external systems breach and no customer funds were at risk. Regulatory reporting includes the SEC’s 2025 dismissal of its case against Kraken with prejudice, and Dubai VARA’s October 2026 approval for Payward; these are regulatory developments, not user-review themes.
AI summary (Perplexity) of public sources as of 2026-10-21. Not part of the score. Sources: 1 2 3 4 5 6 7 8
Reviews elsewhere: Trustpilot ↗ · Reddit ↗ · Google Play ↗
Opinion leaders
no dataWhat the opinion leaders from our Sentiment page write about it: the share of complaints among mentions over 90 days.
The opinion leaders have not mentioned this exchange yet. The block fills itself: we follow their posts every hour.
API reliability
no dataOur own check: does the exchange API answer, over 30 days.
Collecting checks: we need at least 10, now 1.
How we score
- Licences · 25 points. Where the exchange is legal: licences and registrations from regulators' registers, minus bans and fines.
- Reserves · 20 points. Proof of reserves: is there one, who checked it, how fresh it is and whether coins cover every client balance.
- Security · 15 points. Past hacks and whether clients were made whole, the insurance fund.
- Liquidity · 15 points. Real BTC order-book depth within ±2% and futures open interest.
- What people say · 10 points. App Store ratings across countries, weighted by the number of reviews.
- Opinion leaders · 10 points. What the opinion leaders from our Sentiment page write about it: the share of complaints among mentions over 90 days.
- API reliability · 5 points. Our own check: does the exchange API answer, over 30 days.
Licences: a full licence in the EU (MiCA), UK, US, UAE, Singapore, Japan, Hong Kong, Canada, Korea, Australia or Switzerland gives 5 points, a full licence elsewhere 3, a registration (such as FinCEN or AUSTRAC) 1.5, an application or in-principle approval 0.5. Each country counts its best entry, and only if confirmed in the regulator's register. Every regulator ban, fine or warning in the last 3 years costs 2 points, at most 8 in total.
Reserves: a published proof of reserves gives 4 points; zk proof 6, audited Merkle tree or audited filings of a listed company 4, unaudited tree 2; a snapshot under 45 days old 4, under 90 days 2; the lowest coverage among BTC, ETH, USDT and USDC at 100%+ gives 6, at 95%+ gives 3.
Security: 10 points minus 2 for each hack where clients were made whole and minus 6 where they were not; hacks older than 5 years count half. Plus 5 if the insurance fund can be checked via API or on-chain, 3 if the exchange only publishes the amount.
When a block has no data yet it is left out and the total is rescaled to 100 over the blocks we have. Our readers' ratings are shown separately and do not enter the score, so they cannot be gamed.
Sources: regulators' registers (ESMA, FinCEN, AUSTRAC, VARA, MAS and others), the exchanges' proof of reserves pages, Powered by CoinGecko (depth and open interest), Apple App Store, the exchanges' public APIs, mempool.space, opinion leaders' posts on X. Licences checked 2026-10-21, data updated .
Partnerships do not affect the scores. We have affiliate links with some of these exchanges and may be paid if you sign up. A script computes the scores from public data with the same rules for all; the method and sources are below. Not investment advice. Trading crypto, especially with leverage, is high risk. 18+ only.