Kraken
Experiences, reviews and information about the provider
Details
Pros
- In the market since 2011 and thus one of the most established crypto exchanges
- MiCA licence from the Central Bank of Ireland, plus e-money and MiFID authorisation
- Genuine order-book trading with low fees in Pro mode
- Broad offer including staking, margin and futures for experienced users
Cons
- Crypto balances are not covered by deposit protection
- Interface and fee model confusing for beginners
- Simple buy mode is much more expensive than Pro trading
- Supervision lies in Ireland and the USA, not with BaFin
Fact sheet: Kraken
| Company name | Kraken |
| Founded | 2011 |
| Headquarters | San Francisco, EU-Sitz Dublin |
| Country | 🇺🇸 USA |
| Type | trading plattform |
| Website | kraken.com |
About Kraken
Kraken is operated by the US company Payward, Inc., originally from San Francisco, and has been active since 2011, making it one of the oldest crypto exchanges still operating. The European business runs through Irish companies: Payward Europe Solutions Limited received a MiCA authorisation as a crypto service provider from the Central Bank of Ireland in June 2025, the first company to do so, and German customers have been served through this entity since August 2025; there is also an e-money licence and a MiFID authorisation for derivatives in Ireland. BaFin (the German financial regulator) is therefore not the responsible supervisor. Decisive for investors: crypto balances are not a deposit and are therefore not covered by statutory deposit protection (Einlagensicherung); the euro balance on the Kraken account is also not a traditional bank account but is held separately from company assets under the safeguarding rules for e-money. Kraken is aimed more at active traders who want to use order-book trading, margin and a broad product range.
Special features
- First MiCA authorisation granted by the Central Bank of Ireland
- Operating company is the US firm Payward, Inc.
- Euro balances are held separately as e-money under safeguarding rules
- Regularly publishes proof-of-reserves statements on customer holdings
