Kraken is one of the original crypto exchanges in the world and operates with a mission to, "accelerate the adoption of cryptocurrency so that you and the rest of the world can achieve financial freedom and inclusion." The exchange was founded in 2011 by Jesse Powell after he understood the importance of Bitcoin and how a great exchange could help people securely invest in crytpocurrencies.

The standard Kraken exchange is your first and easiest option to buy and sell crypto through Kraken. This exchange offers a very clean interface and allows you to instantly buy crypto. You can get access to over 210 cryptos and use the exchange on both mobile and web based verisons. We should note that fees are the highest on this exchange, so if you are looking for a cheaper option it is better to learn how to use the more advanced Kraken Pro exchange.

As the name implies Kraken Pro is the advanced level exchange. The platform is very customizeable and integrates well with other advanced features such as margin trading. A suit of technical analysis tools come with the platform, while having access to 210+ crypto assets, and a mobile version that has a smooth interface so you can invest on the go.

One of the best features of Kraken is the learn feature. You can get access to loads of free content to educate yourself on all things crypto. Kraken offers this content in the form of articles, webinars, and podcasts. Kraken covers a wide range of topics including the basics of crypto, DeFi, NFTs, and the specifics of popular cryptos themselves.

Finally, Kraken also offers margin trading which allows you to buy and sell crypto using funds that could exceed the balance of your account. Kraken offers 5x leverage on margin trades in over 100 markets. You can manage your margin trades through the Kraken Pro interface.

Kraken offers access to 210+ cryptos on both the standard exchange and Kraken Pro so you have plenty of options to choose from no matter what level of experience you have.

As a whole Kraken has very good security and demonstrates this by never having a major security breach on the exchange. Kraken uses a number of strategies to keep your acccount safe include industry standard two factor authentification, encrypted email, priority 24/7 chat for urgent matters, and more.

Additional security measures include a ISO 27001 certification (international standard for information security), crypto infastructure residing in secure cages monitered 24/7 by armed guards, external and internal audits to test security and more.

Kraken charges fees in one of two ways.

1. Instant Buy: If you are using Kraken's entry level exchange, expect to pay a 1.5% fee for most cryptos and 0.9% fee for stablecoins. Depending on the payment method, an additional 0.5% processing fee can also be incurred.

2. Kraken Pro: Kraken Pro uses a more standard maker-taker tiered based pricing model which can be seen below.

Kraken has good customer support and offers a variety of ways that you can get assitance. If you prefer live support, you can opt to use the 24/7 live chat, or speak with a support specialist over the phone 24/7. If you want to try to address the problem without speaking to anyone, you can contact Kraken via email and also use the online support center to find the answer to common questions.

Kraken also offers a more in depth customer service option for frequent users called account management. Essentially, you will be assigned your very own personal account manager. You can utilize this person to help answer all of your questions and address an issues that may arise. Kraken does not charge anything extra to use this feautre.  

One other detail that is worth mentioning is Kraken's verification levels. Essentially, what you are able to do with your account on the Kraken platform will be dictated by what level of verification you have passed. Although this might sound frustrating at first, Kraken uses verification levels to mitigate fraud and security risks so that your assets, and account remain safe.

The four levels are starter, express, intermediate, and pro. If you just want the basics with Kraken you can qualify for a starter or express level account as long as you are 18. If you want to unlock everything Kraken has to offer with their intermediate and pro levels of verification additional documentation will be needed such as proof of address, a valid government ID, face photo and social security number.

The first major advantage of Kraken is the low fees when you are using Kraken Pro. The standard exchange, which offers the ability to instantly buy crypto, is great for convenience, but if you want the lowest costs, you should learn how to use Kraken Pro. Secondary advantages include very strong customer support, including the account management option at no additional cost, a decent selection of crypto and the educational learn feature.

The first major disadvantage is that Kraken is not the most beginner friendly exchange. Kraken's basic exchange is user friendly, but the disadvantage is that you pay the highest fees. A second disadvantage is that Kraken recently removed the ability to participate in staking and earn rewards with your crypto for US residents where as other major exchanges still offer this feature.