What is Kraken?

Kraken is a centralized cryptocurrency exchange where users can buy and sell cryptoassets. Trading uses balances held in an exchange account. That custody arrangement differs from holding assets in a separate wallet whose private keys you control.

Kraken and Kraken Pro: what differs?

Kraken names the platform. Kraken Pro is the trading interface that emphasizes an order book, limit prices and additional order controls. The simpler purchase screen and Pro do not necessarily use the same transaction route or fee model. Available functions depend on account and regional conditions.

The word “Pro” does not mean every product is available to every customer, or that trading has no cost. Kraken Wallet is a separate wallet product and should not be confused with an exchange balance.

Example: buying Bitcoin through an order book

Suppose a user wants to buy 0.001 BTC with an $80,000 limit price in Kraken Pro. The notional amount is $80 before trading fees. The order may fill if a suitable sell order is available, or remain waiting if it is not. Receiving BTC in the exchange account does not send it to the user’s external wallet; that requires a separate withdrawal.

The figures illustrate the calculation and are not a current quote or a trading recommendation. The Kraken Pro review examines the screen and cost decisions; our cryptocurrency purchase guide covers the broader first-purchase process.