Kraken Review Australia 2026 The Best Exchange for Australian Users?

What Is Kraken Exchange?

Kraken is a digital-asset trading platform operating in Australia through Bit Trade Pty Ltd, registered with AUSTRAC as a digital currency exchange provider according to the AUSTRAC Register. Founded in 2011 by Jesse Powell in San Francisco, Kraken emerged after the Mt. Gox hack exposed security vulnerabilities across the industry—Powell built Kraken with security as its foundation, a principle that has kept the exchange hack-free for over 13 years.

According to Kraken's 2024 annual disclosure, the exchange now serves 13 million users across 190+ countries, with $42.8 billion in assets under custody and 2.6 million funded accounts. Revenue doubled to $1.5 billion in 2024, with adjusted earnings of $380 million. The company is reportedly planning an IPO for early 2026 (Bloomberg, March 2025).

Kraken was the first cryptocurrency exchange to provide price data to the Bloomberg Terminal, bridging crypto and traditional finance. It also assisted in recovering funds after Mt. Gox collapsed, cementing its reputation for integrity in the industry.

What Are the Fees on Kraken?

Kraken's fee structure varies between Standard (instant buy) and Pro (advanced trading) platforms according to Kraken's Fee Schedule. Standard charges ~1.5% for instant buys, while Pro fees start at 0.25% maker and 0.40% taker—use Kraken Pro for significantly lower costs. The Investors Centre rates Kraken's fees 4.5/5 for competitive pricing on higher volumes.

How Do Kraken Standard Fees Compare to Pro?

The "Buy / Sell / Convert" interface charges approximately 1.5% per transaction according to Kraken's Fee Schedule. This includes a spread built into the quoted price, plus card payments incur additional processor fees displayed at checkout. Standard suits beginners making occasional purchases, but costs add up significantly for frequent traders—switch to Pro for 80%+ fee savings.

What Makes Kraken Pro's Maker-Taker Model Cost-Effective?

Kraken Pro uses a maker-taker model that rewards liquidity providers with lower fees according to The Investors Centre's analysis. Entry-tier fees are 0.25% maker and 0.40% taker. At $50,000+ monthly volume, fees drop to 0.20% maker / 0.35% taker. High-volume traders ($10M+) pay as low as 0.00% maker / 0.10% taker.

Kraken Standard vs Kraken Pro Fees

Source: Kraken Fee Schedule (kraken.com/features/fee-schedule)

For a detailed comparison with other platforms, see our guide to the lowest fee crypto exchanges in Australia.

How Does Kraken's Interface Differ From Kraken Pro?

Kraken offers two distinct interfaces that cater to different user experience levels according to The Investors Centre's testing. Both connect to the same secure infrastructure—your account, balances, and security settings remain identical regardless of which interface you use.

Is the Kraken Standard Platform Good for Beginners?

The Standard interface prioritises simplicity with a clean dashboard showing your portfolio, quick buy/sell buttons, and educational content for each asset according to The Investors Centre's assessment. This guided experience suits newcomers, though the 1.5% fees make it less cost-effective for regular trading.

Why Should Active Traders Switch to Kraken Pro?

Kraken Pro features TradingView-powered charts, customisable layouts, depth charts, and advanced order types including conditional orders and margin trading up to 5x according to Kraken's documentation. The dedicated Kraken Pro mobile app mirrors desktop functionality for trading on the go. For serious traders, The Investors Centre recommends switching to Pro immediately to benefit from the 80%+ fee savings.

Which Cryptocurrencies Are Available on Kraken?

Kraken lists 450+ cryptocurrencies globally according to their official website, though Australian availability varies due to local regulations. The platform supports major assets plus a rotating selection of altcoins, with new listings added regularly after security review.

What Major Cryptocurrencies Can Australians Trade?

Australian users have access to all major cryptocurrencies with direct AUD trading pairs according to The Investors Centre's testing. This includes Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), and Polkadot (DOT)—eliminating the need for USD conversion on primary holdings.

Are Stablecoins and DeFi Tokens Available?

Kraken supports USDT (Tether), USDC, and DAI for hedging volatility and USD-denominated trading according to their asset listings. DeFi and Layer 2 tokens include Chainlink (LINK), Uniswap (UNI), Aave (AAVE), Arbitrum (ARB), and Optimism (OP). Emerging assets like Sui (SUI) and Aptos (APT) are added after security review.

How Do You Open an Account with Kraken?

Opening a Kraken account takes approximately 10-15 minutes according to The Investors Centre's testing, with verification typically completed within 1-2 hours during business hours (Kraken Support). The process follows standard KYC requirements plus an Australian regulatory cooling-off period.

What's the Step-by-Step Registration Process?

The registration flow follows 10 straightforward steps according to Kraken Support documentation:

1. Visit kraken.com: Click "Create Account" in the top right corner.
2. Enter Details: Provide email, username, and a strong unique password.
3. Verify Email: Click the confirmation link sent to your email.
4. Personal Information: Enter full name, date of birth, address, and phone number for KYC compliance.
5. Identity Verification: Upload Australian driver's licence or passport plus a selfie for facial matching.
6. Appropriateness Assessment: Answer questions about investment experience and crypto knowledge.
7. 24-Hour Cooling-Off: Australian regulatory requirement—you cannot trade until 24 hours after approval.
8. Enable 2FA: Set up two-factor authentication via authenticator app (Google Authenticator, Authy).
9. Fund Account: Deposit AUD via PayID (instant, free) or bank transfer (1-2 days, free). Minimum $5 AUD.
10. Start Trading: After cooling-off period, access Standard or Pro interface to buy, sell, or trade.

For complete guidance on purchasing your first cryptocurrency, see our guide to buying crypto in Australia.

How Can You Get the Most Out of Kraken?

Maximising your Kraken experience requires understanding the platform's features and fee-saving opportunities according to The Investors Centre's extensive testing. Here are nine strategies that can significantly improve your trading outcomes.

1. Use Kraken Pro for Lower Fees: Switch to Pro immediately—0.25% maker fees save 80%+ versus Standard's 1.5% instant buy fees.
2. Deposit via PayID: Instant, free AUD deposits. Bank transfers take 1-2 days with the same zero fee.
3. Use Limit Orders: Pay maker fees (0.25%) instead of taker fees (0.40%) by setting your price rather than buying at market.
4. Enable Global Settings Lock: Kraken's unique security feature prevents settings changes for 24-72 hours, protecting against SIM-swap attacks.
5. Verify Your Proof of Reserves: Kraken's quarterly audits let you cryptographically verify your holdings are backed 1:1 (kraken.com/proof-of-reserves).
6. Explore Staking Rewards: Earn yield on supported assets like DOT, ETH, and SOL. Rates vary—check current APYs in your account.
7. Use the Education Hub: Kraken Learn offers free courses on blockchain fundamentals, trading strategies, and DeFi concepts.
8. Download Both Apps: Standard app for quick portfolio checks, Pro app for active trading—both sync with your account.
9. Monitor ATO Obligations: Crypto gains are taxable events under ATO guidelines. Use Koinly or CryptoTaxCalculator to track trades.

Is Kraken Safe to Use?

Kraken is widely regarded as one of the safest crypto exchanges globally, operating since 2011 without a major customer-fund hack according to The Investors Centre's research. The platform holds ISO/IEC 27001 certification, publishes quarterly Proof-of-Reserves audits, and stores 95% of assets in air-gapped cold wallets (Kraken Security). The Investors Centre rates Kraken's security 4.8/5—among the highest in our Australian exchange assessments.

For a deeper breakdown of Kraken’s security measures, regulatory standing, and risk profile, see our full Kraken safety review .

What Happened in the June 2024 Security Incident?

A security researcher identified a bug allowing account balance inflation according to Kraken's public disclosure. Approximately $3 million was exploited before the vulnerability was patched within hours. Critically, no customer funds were lost, and Kraken publicly disclosed the incident—demonstrating transparency rare in the industry (Kraken Blog, June 2024).

What Was the August 2024 ASIC Action About?

Australia's Federal Court ordered Bit Trade Pty Ltd to pay $8 million for failing to comply with Design and Distribution Obligations (DDO) on its margin trading product according to ASIC Media Release 24-274MR. ASIC found Bit Trade offered margin extensions without a Target Market Determination (TMD), affecting 1,100 customers. The fine related to compliance processes, not security or fund safety.

What Security Features Does Kraken Offer?

Kraken implements multiple security layers that have protected customer assets for over 13 years according to their security documentation:

Security Summary: Kraken

What Are the Key Takeaways from This Review?

After comprehensive testing, The Investors Centre has identified seven critical points Australian users should know about Kraken before opening an account.

1. Established Platform: 13+ years operating without a major security breach—one of the longest track records in crypto.
2. TIC Rating: 4.3/5 from The Investors Centre—strong on security and fees, room for improvement on beginner experience.
3. Competitive Pro Fees: 0.25% maker / 0.40% taker on Pro—use Pro instead of Standard (~1.5%) for 80%+ savings.
4. Exceptional Security: ISO 27001 certified, quarterly Proof-of-Reserves audits, 95% cold storage.
5. Free AUD Deposits: PayID (instant) and bank transfer (1-2 days) both free. $5 minimum.
6. AUSTRAC Registered: Bit Trade Pty Ltd legally operates in Australia with AML/CTF compliance.
7. Limited AUD Pairs: Most markets denominated in USD—may need currency conversion for broader altcoin access.

Final Verdict: Should You Try Kraken in 2026?

Kraken remains one of the most trusted cryptocurrency exchanges for Australian investors according to The Investors Centre's comprehensive assessment. Over 13 years without a major security breach and transparent Proof-of-Reserves audits set it apart in an industry plagued by exchange collapses.

The August 2024 ASIC fine highlights the importance of regulatory compliance—while concerning, it related to margin product distribution rather than security or custody. Kraken's core exchange operations remain robust, with $42.8 billion in assets under management and an IPO reportedly planned for 2026.

For active traders seeking institutional-grade infrastructure at competitive fees, Kraken Pro delivers exceptional value. Standard's 1.5% instant buy fees are higher—switch to Pro immediately for better rates. Beginners may find the learning curve steeper than some local alternatives, but Kraken's security credentials and global liquidity justify the effort.

Best for:

• ✓ Active traders wanting low Pro fees (0.25% maker)
• ✓ Security-conscious investors prioritising Proof-of-Reserves
• ✓ Users needing access to 450+ cryptocurrencies
• ✓ Australians wanting free PayID deposits

Not ideal for:

• ✗ Complete beginners who need guided experiences
• ✗ Users who prefer AUD-denominated altcoin pairs

Looking for alternatives? Compare Kraken with other platforms in our Coinbase vs Kraken analysis, or explore our complete guide to the best crypto exchanges in Australia.

FAQs

References

1. Kraken. "Official Website."
2. Kraken. "Fee Schedule."
3. Kraken. "Security Features."
4. Kraken. "Proof of Reserves."
5. AUSTRAC. "Digital Currency Exchange Register."
6. ASIC. "Media Release 24-274MR."
7. The Investors Centre. "Official Website."