Pros
Extensive crypto selection: Kraken offers over 200 cryptocurrencies and 780+ trading pairs
Advanced trading features: The platform supports margin trading with up to 5x leverage and futures trading
Regular proof-of-reserves audits: Kraken conducts frequent audits to verify that user funds are fully backed
Cons
Complex fee structure: Kraken's fee system varies between its regular and Pro platforms
Limited payment options for US users: American customers have restricted deposit methods compared to international users
Regulatory challenges: Kraken faced SEC charges in 2023 regarding unregistered securities offerings