Kraken: Buy Crypto & Stocks

Review by eFreeware

Most trading apps ask you to pick a side: crypto or stocks. Kraken's Android app is built around the idea that you shouldn't have to, putting digital assets and US equities in the same portfolio view. That combination is the most distinctive thing about it, and it shapes everything else in the app.

The app comes from Payward, Inc. and has been on Google Play since June 2021, with more than five million installs and a 4.3 average across roughly 55,400 ratings. It is free to download, carries no ads, and offers in-app purchases.

This is aimed at people who already hold, or plan to hold, both crypto and traditional investments and want to manage them from a phone rather than a desktop. If your interest runs in only one direction, the appeal is narrower, but for a mixed portfolio it is a coherent proposition.

One account for crypto and US equities

The crypto side is the older half of the business. It supports more than 300 assets, a mix of cryptocurrencies and government currencies, with Bitcoin, Ethereum, Dogecoin, Litecoin, Ripple, Bitcoin Cash, Monero, EOS, Cardano and TRON among the names the developer lists.

The stock side is the newer addition. The app covers more than 11,000 US stocks and ETFs, spanning NYSE, NASDAQ and AMEX listings, and the developer describes trading them as commission-free, with the caveat that other fees may apply. For someone who wants broad US market exposure next to a crypto position, that breadth is the practical draw.

What I find appealing about the structure is that it avoids the usual two-app juggling act. You are not moving money between a brokerage account and a crypto exchange to see where you stand. The developer's pitch is a single place to manage the whole portfolio, and the feature set is organized around that idea.

Placing an order without guesswork

Order entry is deliberately stripped back. You scroll and tap to pick an asset, and there are preset amounts that let you place an order in a single tap. A simple form handles custom orders when the presets don't fit what you have in mind. The detail I appreciate most is that you get an exact price quote before you commit, so the number you see is the number you are agreeing to.

For anyone who wants to build a position gradually, the app supports buying in fixed amounts over time, which is the dollar-cost averaging approach in practice. It is a sensible fit for people who would rather set a routine than time the market, and it removes some of the emotional decision-making from the process.

The app also keeps a record of past transactions and shows your available balance for buying, so you can check what you have to work with before placing an order. Support is reachable around the clock through a ticket you open with a single tap, which matters when a trade doesn't behave as expected.

Sending crypto to other Kraken users

Payments are handled inside the same app. You can send money to any Kraken user, anywhere, and the developer says those transfers carry no fees worldwide. Each user gets a unique @kraktag, a handle that stands in for the long wallet addresses that make crypto transfers error-prone.

The payment layer works across more than 300 currencies, both government-issued and crypto, which is a wider range than most people will ever need but useful if you regularly move value between countries or between asset types.

I would treat this as a convenience feature rather than a reason to install the app on its own. It makes most sense for people who already have counterparties on Kraken.

Kraken+ and what the subscription changes

Kraken+ is the app's premium tier, priced at $4.99 a month and renewing automatically until you cancel. The headline benefit is zero trading fees on up to $10,000 of volume per month, which is a meaningful change for anyone trading frequently enough that per-trade costs add up.

Subscribers also get boosted rewards on USDG, quoted at up to 4% or more in annual terms. The rate can change, and the rewards are not available in every region, so the figure is a ceiling rather than a guarantee.

Two details are worth keeping in mind. Subscription benefits vary by region and can be modified with notice, and spread and payment processing fees still apply even when trading fees are waived. For a light user placing a handful of orders a year, the monthly charge is unlikely to pay for itself; for someone trading regularly, the math changes quickly.

Requirements, restrictions and risk

This is a regulated financial app. Geographic restrictions apply, and crypto trading is offered to US customers excluding Washington, New York and Maine. Securities and brokerage services come through Kraken Securities LLC, while digital asset services are provided by Payward Interactive.

Fees are not confined to trading commissions. Converting one asset into another during a transfer carries a fee, shown before you confirm. The subscription waives trading fees within its volume cap but does not remove spread or payment processing costs.

The risk language is blunt and worth repeating in plain terms: crypto trading involves the risk of loss, and the app is not investment advice. Nothing here changes the underlying volatility of the assets, and a clean interface can make trading feel simpler than the underlying decisions are.

Who the app is built for

The app is built for people who want crypto and US stocks under one login and are comfortable managing both from a phone. The mix of preset order amounts, exact quotes and recurring buys suggests it is designed to be usable by someone who is new to trading without being simplified to the point of uselessness for someone who isn't.

The 300-plus asset list and the 11,000-plus stock and ETF catalog point to a user who wants choice rather than a curated handful of names. If your holdings are concentrated in a few well-known cryptocurrencies, that range is more than you need, but it costs nothing to have it available.

The subscription is the clearest dividing line. Kraken+ at $4.99 a month rewards volume, so it fits someone placing regular trades; an occasional buyer can use the app without it and pay per-trade fees instead. That is a straightforward trade-off rather than a hidden one.

The geographic exclusions are the other practical filter. Regional variation in subscription benefits means the terms you see may differ from those described elsewhere.

A reasonable home for a mixed portfolio

Kraken's app makes a clear case for itself: one place for crypto and US stocks, exact pricing before you commit, and a subscription that can make sense if you trade often enough. The 4.3 average across tens of thousands of ratings suggests the approach has landed with a broad audience.

The caveats are real but stated plainly. Trading fees apply outside the subscription's volume cap, instant conversion fees apply on transfers, geographic restrictions limit who can trade crypto, and losses are possible. None of that is unusual for a brokerage app, and the developer does not hide it.

I would point this at someone who wants both asset classes in a single app and is willing to weigh the $4.99 monthly subscription against their trading frequency. For a casual investor who buys occasionally and holds, the free app plus per-trade fees is the simpler arrangement. For a regular trader, the zero-fee tier is the more interesting part of the offer.

What's new in version 3.84.0

We’re always making sure the Kraken mobile app is easy, safe and secure for you to use. This release contains various improvements and fixes.