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Kraken review

Updated September 29, 2026 · HodlCue Editorial Team · Facts checked September 29, 2026

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Our verdict

Kraken suits frequent crypto users who keep trading balances on exchange and want those balances spendable through a card without added card upkeep. It pairs a debit card on Mastercard with a monthly fee of €0 and conversion fees of 0%, which keeps routine spend predictable for cardholders.

Key facts

Best for
Exchange users who want balances spendable by card
Monthly fee
€0↗
Currency conversion fee
0%↗
Free ATM withdrawals
€0↗
Card type
Debit↗
Cashback rate
0.5% to 2%↗
Card network
Mastercard↗
Currencies
600↗
Custody
Self custody↗
Features
Multi-currency, Crypto, Virtual card, Travel
Official website
kraken.com

Crypto exchanges

Taker fee
0.05% to 0.8%↗
Coins listed
728↗
Regulators
Central Bank of Ireland, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI)↗
Fiat deposit methods
Card, Bank, SEPA, ACH, Apple-pay↗
Maker fee
0% to 0.4%↗
Proof of reserves
Yes↗
Derivatives
Yes↗
Exchange type
Cex↗

Crypto wallets

Wallet type
Mobile↗
Price
$0↗
Coins supported
728↗
Backup options
Seed↗

Facts checked September 29, 2026, 9 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataLinkedInX

Pros and cons

Pros

  • Monthly fee of €0 keeps ongoing card costs low for regular spenders
  • Conversion fees of 0% favour cross border card use versus Bit2Me at 0.95%
  • Cashback of 0.5% to 2% adds value on eligible card spending
  • Exchange breadth of 728 gives wide funding choice for card balances

Cons

  • Free ATM allowance of €0 restricts cash withdrawals for frequent ATM users
  • Support runs on chat and help centre only, which limits choice for people who prefer phone help
  • Cashback of 0.5% to 2% varies by activity, so returns depend on card use
Kraken

Ready to try Kraken?

Scored 9.4 / 10 by HodlCue.

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Who it suits

  • Exchange holders who want trading balances spendable by card rather than moved off venue
  • Card payers who value low upkeep and who accept eToro instead where ATM needs dominate

Who should look elsewhere

  • Cash heavy users who may prefer eToro for its free ATM range of €2,500 to €12,000 over €0
  • Phone support seekers who may prefer bunq if assisted channels matter more than chat and help centre

Licences and registrations

Kraken connects card and exchange activity to licences in several domiciles. The Financial Conduct Authority registration is shown as 901097. The Bank of Lithuania registration is shown as LB002139. The Central Bank of Ireland registration is shown as MiCA CASP 9845003D98SCC2851458. Together, these entries describe permissions for payment and crypto asset activity in the relevant markets. Holders should check which entity serves their domicile, since product terms, disclosures and complaint routes follow the contracting entity. The presence of multiple registrations reflects separate national processes rather than a single passport alone, so account documents merit close reading before funding.

How your money is protected

Protection starts with how assets are held. The linked wallet uses self custody custody, which means keys remain under holder control with backup responsibility resting with the user. Exchange balances that fund card spending sit under the licensed entities described by LB002139, 901097 and MiCA CASP 9845003D98SCC2851458. Those registrations set conduct, safeguarding and reporting duties for the relevant services, though they do not remove market risk on crypto balances. Holders should separate day to day spending balances from longer term holdings, keep backup details secure and review disclosures on safeguarding, complaints and applicable redress for their domicile.

Using it abroad

Spending outside the home market centres on conversion, cash and acceptance. Conversion fees are 0%, which keeps the cost of paying in other currencies predictable at the point of sale. Free ATM allowance is €0, so holders who rely on cash should plan withdrawals around that allowance and use card payments where accepted. The card runs on Mastercard, which supports broad acceptance in shops, restaurants and travel settings where that mark is taken. Holders who travel often may favour card payments for everyday purchases and reserve ATM use for places where cash remains needed, since the allowance shapes the trade off between convenience and withdrawal costs.

How it compares on our data

Comparison data places the card pattern clearly. On monthly fee, it sits at 1 among 50, which reflects the charge of €0 shown above. On currency conversion, it sits at 1 among 31, which underlines the role of low conversion costs in its profile. On free ATM withdrawals, it sits at 9 among 16, which shows the trade off for cash users. Taken together, the pattern favours card payments and account based spending over frequent cash use, and it helps readers weigh upkeep and travel costs against withdrawal needs.

How Kraken compares

Where Kraken is available

Licence in Ireland
Central Bank of Ireland (CBI) (MiCA CASP 9845003D98SCC2851458), checked September 26, 2026, also valid in Cyprus, Ireland
Licence in Ireland
IE_CBI (PSD_EMI IE_CBI!C453020), checked September 26, 2026, also valid in Austria, Belgium, Bulgaria, Cyprus, Czechia, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Croatia, Hungary, Ireland, Iceland, Italy, Liechtenstein, Lithuania, Luxembourg, Latvia, Malta, Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovenia, Slovakia

Frequently asked questions

What does the Kraken card cost to keep and use?+

The card carries a monthly fee of €0 and conversion fees of 0%. Cashback of 0.5% to 2% applies to eligible spend. Exchange trading uses maker fees of 0% to 0.4% and taker fees of 0.05% to 0.8%, so card costs stay distinct from trading costs.

Who regulates Kraken for this product?+

Kraken lists oversight connected to Central Bank of Ireland, Financial Conduct Authority and Financial Crimes Enforcement Network and holds registrations including MiCA CASP 9845003D98SCC2851458. The legal entity named is Payward Europe Solutions Limited. These permissions relate to crypto and payment services and vary by product and domicile.

How can funds be added for card spending?+

Funding can use card, bank and SEPA, which covers card payments, bank transfers and mobile wallet routes. Availability depends on domicile and account status. Crypto funding draws on balances held across 728 listed on the exchange.

How does the card work when travelling abroad?+

Abroad, conversion fees of 0% apply to card payments, and the card runs on Mastercard. Free ATM allowance is €0. Travellers who use cash often should weigh ATM needs against card payments.

What kind of card is it and where can it be used?+

The card is debit and supports features noted as multi currency, crypto and virtual card, with use across 600 for spending. It is aimed at holders who keep crypto on exchange and want direct spending without moving funds elsewhere.

What support channels are available?+

Help is offered through chat and help centre. Holders can seek guidance on card queries, exchange funding and account matters through those routes. People who prefer phone contact may find the choice narrow.

How do the wallet and staking options relate to the card?+

The linked wallet is mobile with self custody custody and backup by seed. Staking covers ATOM, SCRT and KSM with lock options described as Flexible or bonded and yield of 0.1% to 21%. This suits holders who manage keys alongside exchange balances.

Sources

Compiled from 10 source pages, checked September 29, 2026. We did not open an account.

Not confirmed yet: Protection.

Kraken

Kraken

Exchange users who want balances spendable by card

9.4/10Visit