Today, we’ll have a look at one of the oldest Crypto exchanges, Kraken, and I’ll also share a Kraken referral code to get an extra trading fee discount.
Kraken is a United States-based cryptocurrency Exchange and bank, founded in 2011. It was valued at $11 billion in mid-summer 2022.
Kraken is the most trusted cryptocurrency exchange on the market. Kraken offers spot and futures trading between Bitcoin, Ethereum, and 80+ other digital assets and 7 fiat currencies. Kraken’s platform provides financial stability by maintaining full reserves, healthy banking relationships, and the highest standards of legal compliance. No doubt Kraken is rated as one of the best places to buy and trade crypto online, owing to its outstanding service, low fees, flexible payment methods, and high-security standards.
Kraken Exchange fees
In terms of fees, your past 30-day trading volume determines how much you pay in fees. Notably, this only relates to trading fees, not fund deposits and withdrawals, which vary according to the method utilized.
- Fees: 0% to 0.26% per trade, 3.75% + €0.25 for credit card purchases, and 0.5% for online banking processing
Kraken has various products for all types of traders and institutions like Instant Buy, and Kraken Pro. For a comprehensive list of fees of these, please see the Fee Schedule page.
The best way to minimize fees on Kraken is to use Kraken Pro. This product enables you to pay less based on higher volumes. You earn discounts immediately as the system reassesses your eligibility tier after every trade.
Kraken Vs Binance – Which is the best crypto exchange?
At a Glance
| Kraken | Binance | |
|---|---|---|
| Fees | 0% to 0.26% per trade, 3.75% + €0.25 for credit card purchases, and 0.5% for online banking processing | 0.02% to 0.10% purchase and trading fees, 3% to 4.5% for debit card purchases, free Single Euro Payments Area (SEPA) transfer, or $15 per U.S. wire transfer |
| Currencies | About 70 | Over 500 |
| Security | 2FA withdrawal email confirmation, air-gapped cold storage, strict surveillance, precise API key permission control, SSL encryption | 2FA verification, FDIC-insured USD balances, device management, address allow listing, cold storage |
| Wallet | N/A | N/A |
| Transactions Supported | Buy, sell, send, receive, exchange, margin trading, limit order, market order, stop-loss limit order, stop-loss market orders, futures trading, take profit market order, and more | A limit order, market order, stop-limit order, trailing stop order, post-only order, peer-to-peer trading, margin trading, one-cancels-the-other order, and more |
| Max. Daily Trading Amount | $100,000 | Limits differ based on the cryptocurrency purchased |
| Mobile App | iOS and Android | iOS and Android |
| Website | Learn more > | Learn more > |
Both crypto exchanges offer advanced trading options, low fees, and educational resources. International users appreciate the vast amount of cryptocurrencies available with Binance. But, U.S. residents will be less impressed with fewer choices. Kraken offers more transparency, prioritizes security, and provides a decent amount of currencies for U.S. users, although far fewer coins than Binance for international users.
Kraken referral code or Referral link
Kraken doesn’t have a referral system as such for basic users. You won’t find an option of the referral or invite in their app. But they do have approved affiliates and you can use their referral link while signing up to get bonuses and trading fee kickback.
I’m one of their approved affiliate partners and you can use my referral link to get a 20% trading fee discount. They also run deposit promos from time to time, so make sure to check this page and also take advantage of those offers.
Do let me know in the comments if you’ve any questions related to the Kraken exchange?
