Kraken is an exchange providing clients the ability to deposit funds to our corporate wallet for safekeeping while the funds are being exchanged or used for trading or staking*. We also provide a self-custodial wallet, Kraken Wallet, that enables you to securely manage your cryptocurrencies and interact with decentralized applications (dApps) on the Web3 ecosystem.
For more information on the differences between Kraken Exchange and Kraken Wallet visit: What is the difference between Kraken Wallet and Kraken Exchange?
As with most exchanges, funds sent to deposit addresses are moved to cold storage and hot wallets. Withdrawals are handled by the hot wallet and not the deposit address; the sending address for withdrawals will be different than the deposit address.
Key differences:
1. Deposits
2. Airdrops, forks, & ICOs
3. Withdrawals & fees
4. Withdrawals & smart contracts
5. Withdrawals & returns
6. Kraken-to-Kraken transfers
What wallets are there?
We now provide a self-custodial wallet, Kraken Wallet, that enables you to securely manage your cryptocurrencies and interact with decentralized applications (dApps) on the Web3 ecosystem. Learn more about Kraken Wallet here!
While we do not recommend any particular wallets, hardware wallets do a great job of balancing usability with security for most mainstream clients.
Ledger and Trezor are popular makers of hardware wallets. You can visit the websites below to learn more:
*An overview of eligibility criteria (including geographic restrictions) for On-chain staking can be found here.