Kraken is a cryptocurrency exchange that enables users to buy, sell, and trade several different cryptocurrencies (including Bitcoin and Ethereum) in spot and derivatives markets. Kraken offers a core platform for casual traders as well as a more advanced platform (named Kraken Pro) with lower transaction fees and additional features for more active traders and institutional clients. These include over-the-counter (OTC) and spot trading features, access to a dedicated account management team, and programmatic trading. As of November 2022, Kraken offers support for more than 185 cryptocurrencies for over 9 million users, reportedly making it the fourth largest crypto exchange (by volume). Our content partner Sacra’s company teardown (August 2022) takes a deeper look at Kraken’s financials, business model, acquisitions, competitive environment, and market opportunities.