Exchanges — Review
Kraken UK
Review 2026.
Founded in 2011, Kraken is one of the longest-running cryptocurrency exchanges still in operation. Lower fees than Coinbase, better staking terms, and a security record that speaks for itself.
Key numbers
One of the oldest exchanges still operating
Lower than Coinbase Advanced from day one
Commission on rewards — vs Coinbase’s 25%
Key Facts
Verified March 2026| Detail | Value |
|---|---|
| FCA Reference | 928222 (Payward Ltd) |
| Founded | 2011, San Francisco |
| Coins listed | 300+ |
| Maker / Taker | 0.25% / 0.40% |
| GBP deposits | Faster Payments (free) |
| Minimum deposit | £10 |
| Staking | Yes (15% commission) |
| Security record | No user fund losses from breaches |
| Trading interfaces | Kraken, Kraken Pro |
| Mobile app | iOS + Android |
Fees and features verified against Kraken UK. Last checked: March 2026.
What Kraken is
Kraken launched in 2011, two years after Bitcoin itself was created. It has survived every market crash, every regulatory shift, and every wave of exchange collapses since. In crypto terms, that track record is extraordinary.
The exchange operates in the UK through Payward Ltd, FCA-registered under reference 928222. It lists more than 300 cryptocurrencies and supports GBP deposits via Faster Payments at no charge.
Kraken sits in a useful middle ground. It is more approachable than the purely professional platforms, but cheaper and more capable than the simplified exchanges built for absolute beginners. If you have spent a few hours learning about crypto and want better value for money, Kraken is often the right next step.
Fee structure
Kraken charges 0.25% for makers and 0.40% for takers on its standard tier. These drop with volume: trade more than $50,000 in a 30-day period and you move to 0.20% / 0.35%.
The immediate buy/sell feature works like Coinbase's simple mode — convenient but with a spread built into the price. For anything beyond your first tentative purchase, use the order book.
GBP deposits via Faster Payments are free. Withdrawals to a UK bank account are also free. There is no account maintenance fee. The £10 minimum deposit is modest, though higher than Coinbase's £1.
Staking
Kraken supports staking for a wide range of proof-of-stake tokens. The commission is 15% — lower than Coinbase's 25%. On a 5% APY network, you keep roughly 4.25% after Kraken's cut.
Staking and unstaking are handled in-app. Some assets have bonding periods (you cannot withdraw immediately after unstaking), but Kraken is transparent about the timeline for each asset.
For UK users focused on earning yield, Kraken's staking terms are among the best available from an FCA-registered exchange.
Security
Kraken has no history of user fund losses from security breaches. In an industry where exchange hacks have wiped out billions, that record matters.
The platform uses cold storage for the majority of funds, runs a regular proof-of-reserves audit, and supports hardware security keys for account authentication. Account settings include granular API permissions, IP whitelisting, and a global settings lock feature that freezes account changes for a configurable period.
Kraken also operates a bug bounty programme and publishes a transparency report covering law enforcement requests.
Kraken Pro
Kraken Pro is the advanced trading interface, available on both desktop and mobile. It includes full order-book views, candlestick charts, multiple order types (limit, stop-loss, take-profit), and margin trading for eligible users.
The learning curve is steeper than Coinbase's simple mode. New users may find the number of options initially overwhelming. But the Pro interface is well-organised and Kraken's documentation explains each feature clearly.
If you plan to trade regularly rather than simply buying and holding, Kraken Pro provides the tools without requiring you to move to a separate platform.
Pros and cons
Strengths
- Lower fees than Coinbase from day one
- Outstanding security track record
- Better staking terms (15% vs 25% commission)
- 300+ coins available
- Free GBP deposits and withdrawals
Weaknesses
- Interface is more complex than Coinbase for true beginners
- £10 minimum deposit (Coinbase starts at £1)
- Card deposits not always available for UK users
- Customer support slower than ideal during market spikes
The verdict
Kraken is the exchange you graduate to. Once you understand the basics of buying and selling, it offers better fees, better staking terms, and a security record that no other major exchange can match. The interface takes an afternoon to learn. The savings last as long as you trade.
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