Kraken is one of the leading crypto exchanges with regulatory authorizations in the U.S., U.K., and select Asian Pacific jurisdictions, U.S.-based Kraken caters toward intermediate and advanced crypto traders. It has a banking license from the US state of Wyoming though it has not launched operations.
Kraken recently provided proof of reserves for $19 billion of client assets, one of the only exchanges in history to do so. It has 13 different licenses globally and has stated plans for an IPO this year.
Its fees at 16 basis points for makers are lower than those of other large regulated firms. It is the only Class A firm with a futures exchange.
Due to the overwhelming number of dissatisfied customer reviews, we advise caution when using Kraken and place the company on our “Orange Compliance” list.
It should be said that the whole crypto industry is struggling with problems, so we also put Kraken on our watchlist.