Kraken — the exchange for serious traders: a review of the advantages

Kraken solves three specific problems that matter for professional trading: provable security (zero hacks in 15 years), real liquidity in futures markets, and a Kraken Pro toolkit built for serious trading, not just watching candles. Soon something important will be added to this: Kraken will become a data source in Secret Terminal, a trading terminal that shows the market through the order book, tape, and clusters.

Who is Kraken

Kraken was founded in 2011. That's not just "a long time" by crypto market standards. Over that period, the exchange survived three global crashes (2014, 2018, 2022), regulatory pressure across multiple jurisdictions, and a battle with the SEC that ended without fines in March 2025. And it has never lost a single dollar of user funds to a hack.

The exchange publishes Proof of Reserves quarterly, showing not just assets but liabilities too. As of late 2025, the reserve ratio exceeds 100% across all major assets: the exchange holds more than it owes users. It's licensed in the US, EU (MiCA), UK, and Australia.

Kraken by the numbers

• Founded in 2011
• Over $2T in cumulative all-time trading volume
• 600+ cryptocurrencies, 1,200+ trading pairs
• Never lost user funds to a hack
• Licenses in the US, EU, UK, Australia
• Proof of Reserves published quarterly, ratio >100%

What you can trade on Kraken

The range of instruments is wider than at most competitors.

Crypto: 600+ coins, 1,200+ trading pairs. Spot and margin trading with up to 5x leverage. Futures on 350+ pairs with up to 50x leverage.

Stocks and ETFs (xStocks): 11,000+ instruments for users outside the US. Commission-free trading. The ability to switch between BTC/USDT and Tesla shares in one account — genuinely useful, not just a box-ticking feature.

Staking: 20+ assets, flexible and fixed formats. APY depends on the asset and market conditions.

OTC: for large volumes where a custom spread and zero slippage matter.

Kraken Pro: a trading platform (web, mobile, API) with a full order book, chart, and advanced order types. This is where the professional trader goes, not the basic interface with a "buy" button.

Exclusive rates for Ukrainian traders. From June through August 31, 2026, Ukrainian Kraken Pro accounts with Intermediate verification or higher automatically get reduced spot fees. At the base level (Tier 1): 0.22% maker, 0.33% taker — instead of the standard 0.25%/0.40%. Rates drop as volume grows: at $10M+ over 30 days, maker fees hit 0%.

Kraken+ is a $4.99/month subscription with its own perk: 0% fees on volume up to $10,000/month when trading via Buy/Sell/Convert in the app or on the site. Important: this benefit doesn't apply to Kraken Pro, futures, API, or OTC. For beginners or infrequent traders, it can pay for itself from the first trade.

Kraken Pro runs on the classic maker/taker model with 30-day volume discounts. Futures rates are more aggressive: maker from 0.02%, taker from 0.05% at the base tiers.

A separate note on "instant buy" via the basic interface (outside Kraken+): a ~1% spread plus a payment-method fee. Built for beginners, not active traders. Professional trading happens only through Kraken Pro or the API.

Promotional rates for Ukraine, valid through August 31, 2026

High liquidity on major pairs (BTC, ETH, SOL), minimal slippage at reasonable trade sizes.

At a comparable trust level, Coinbase loses out on fees by roughly 2-3x. Binance is cheaper for spot trading, but carries a history of hacks and chronic regulatory issues across multiple jurisdictions.

Security: how Kraken stores your money

95% of funds are held in cold storage — offline wallets physically isolated from the internet. 2FA is mandatory for both login and withdrawal. You can't add a withdrawal address without email and 2FA confirmation.

Kraken's Proof of Reserves works differently from most competitors: it discloses both assets and liabilities at once. Many exchanges only show "we hold X BTC" without saying how much they owe users. Kraken shows both sides.

It's a custodial model: the exchange holds the private keys to your coins, not you. For those who care about this, Kraken offers a separate Kraken Wallet with self-custody. To be fair, they don't hide how the custody works.

Another thing I personally value when choosing a platform: Kraken shows the full cost of a trade before you confirm it. You see what you're paying, then you agree. No surprises after you click the button.

Secret Terminal × Kraken: what this means for a trader

Most traders trade off the chart. The chart holds history. It shows what already happened. But decisions aren't made based on history — they're made based on what's happening right now and what could happen in the next few seconds.

Secret Terminal: a professional trading terminal for Windows that shows the market through three tools.

The order book — limit orders that haven't been filled yet. It's the liquidity standing between price and market participants. A large density level in the book at a round number: a potential resistance or take-profit zone. An empty book above the current price: price can blow through the level fast.

The tape (time & sales) — real executed trades in real time. Not pending orders. Actual trades that went through. If the tape shows clear buyer dominance with accelerating volume, that's an argument for going long. It plays out in seconds, not hours.

Cluster analysis — the distribution of volume inside each candle. A regular candle shows the open, close, high, and low. A cluster shows at which levels inside the candle the real fight between buyer and seller happened, and who won it.

When all three work together, the picture of the market is fundamentally different. I look at the BTC order book and see a large density level. The tape shows aggressive buying starting to chew through that density. The cluster confirms it: volume went through, the buyer is in control. The entry is clear.

This exact combination — order book, tape, and clusters — is the foundation of the terminal. Kraken will join the list of data sources, meaning Kraken's order book and real-time tape will become available right inside the terminal.

For a scalper, this is critical. Kraken Pro has a deep order book on major pairs (BTC/USD, ETH/USD). Seeing it through the terminal, with volume filtering, density highlighting, and history via clusters. A different level of work.

Kraken coming soon to Secret Terminal

The integration is in development. Once it launches, you'll get access to Kraken's real order book, tape, and cluster analysis right inside the terminal.

Follow updates at secret-terminal.com and in the project's Telegram channel.

How to get started — a quick start on Kraken

Registration takes 5 minutes; verification takes anywhere from a few hours to a full day depending on load.

The sequence is simple:

• Sign up on Kraken
• Complete KYC (passport or ID + selfie)
• Fund your account: crypto deposits are commission-free, fiat depends on the method, bank transfer is the cheapest
• Switch to Kraken Pro: that's where the order book, advanced order types, and API live

Important: Kraken Pro is just an interface mode of the same platform, available right after registration. You switch it in the interface.

FAQ

• Is Kraken available in the CIS?

  Yes, the exchange operates in most CIS countries (except Belarus and Russia), but with regional restrictions. Check the current list on Kraken's official website, since it's updated periodically.

• What's the minimum deposit on Kraken?

  It depends on the method. Crypto is accepted with no minimum threshold. Fiat: from $10 via bank transfer. It's best to check exact limits in the Funding section on the site, since they can change.

• How does Kraken Pro differ from regular Kraken?

  Kraken: a simplified interface with a "buy" button. Kraken Pro: a full trading platform — order book, limit and stop orders, margin, futures, API. For active trading, you only need Pro

• When will Kraken appear in Secret Terminal?

  The integration is in development. Follow updates in Secret Terminal's official Telegram channel and at secret-terminal.com

Bottom line

Kraken: an exchange with a proven track record. Not marketing talk — measurable facts: 15 years without a hack, Proof of Reserves including liabilities, licenses in four jurisdictions, a closed SEC case with no fines. On futures: leverage up to 50x, maker fees from 0.02%, deep liquidity on major pairs.

Once the Kraken integration in Secret Terminal launches, you'll also be able to see its order book and tape in real time: with cluster analysis, volume filtering, and hotkeys for fast entries. The difference between "looking at an exchange" and "reading the market."

Sign up on Kraken now [Kraken referral link] and connect it to Secret Terminal once the integration launches. That way, you'll be among the first to get access to the full picture of the market.