One lucky winner has woken up to 1,000 SOL in their Kraken account.
The Kraken Halloween Sweepstakes is officially a wrap, thanks to everyone who entered!
What should we give away next time? https://t.co/B1CX5siBnS
Kraken Wallet
Self-custodial multichain wallet from Kraken with passkey support and zero platform swap fees
4.1/ 5
Our score
Very good
Custody
Self-custodial
Chains
BitcoinEthereumSolanaBNB Chain+5
Platforms
iOSAndroid
Open source
Yes
In-app swaps
Yes
What is Kraken Wallet?
Kraken Wallet is a self-custodial multichain software wallet developed by crypto exchange operator Payward, Inc. Launched in April 2024, the application allows users to hold, transfer, swap, and manage assets across Bitcoin, EVM networks, and Solana while retaining exclusive ownership of their private keys.
Corporate background and management
The product is built by Payward, Inc., which was co-founded by Jesse Powell, Thanh Luu, and Michael Gronager. Jesse Powell served as chief executive before stepping down in April 2023, handing leadership to Dave Ripley, who now leads alongside co-CEO Arjun Sethi. Headquartered in the United States, Payward has raised equity capital from venture investors such as Hummingbird Ventures, which participated in a $5.0M Series A round in March 2014, and SBI Group, which led its Series B round in February 2016. The parent company operates with a Special Purpose Depository Institution charter from Wyoming alongside Virtual Asset Service Provider registrations in Ireland, Italy, and Spain.
Custody model and cross-chain mechanics
The application supports both traditional and seedless account creation. Users can initialize standard accounts governed by a secret recovery phrase or set up embedded accounts via Google or Apple logins paired with WebAuthn passkeys. Kraken Wallet connects to Bitcoin, Ethereum, Solana, Ink, Polygon, Base, Arbitrum, Optimism, BNB Smart Chain, Dogecoin, Linea, and Robinhood Chain. A built-in aggregator routes token swaps across decentralized liquidity venues directly onchain. Portfolio management tools consolidate fungible tokens, non-fungible tokens, and positions in decentralized finance protocols into a single mobile dashboard.
Pricing and transaction fees
Kraken Wallet is free to download on iOS and Android devices, and the company levies a 0% platform fee on swaps. Users remain responsible for base network gas fees and third-party bridge costs. For eligible embedded-wallet transactions on EVM networks, Kraken sponsors execution gas costs, though sponsorship coverage varies based on the transaction type and network conditions.
Limitations and operational risks
Self-custody places operational responsibility directly on the user. Losing access to a secret recovery phrase results in unrecoverable asset loss. Although the mobile app code is open source, external DeFi protocols connected through in-app swaps still introduce independent smart contract vulnerability risks.
Founders
Dave Ripleyco-CEO
Arjun Sethico-CEO
Jesse Powellformer CEO and Co-founder
Dan HeldDirector of Business Development
Best for:Kraken exchange users moving to self-custodyMobile multichain DeFi participantsTraders seeking markup-free token swapsUsers preferring passkey logins over seed phrases
Pros and cons
Pros
- No platform surcharge added to in-app token swaps
- Supports Bitcoin, Solana, and major EVM Layer 2 chains
- Passkey onboarding allows wallet setup without a seed phrase
- Gas fees are sponsored on selected embedded EVM transactions
- Open-source code base published by an established exchange parent
Cons
- Gas fee sponsorship is not guaranteed across all transactions
- Users face smart contract risks when interacting with third-party DEX routers
Our review
4.1/5
Very good
Kraken Wallet offers free self-custody with direct Kraken exchange connectivity across 12 supported chains, while its listed interfaces are mobile and web.
Kraken Wallet launched in April 2024 as an open-source, self-custodial app created by Payward, Inc., the operator of the Kraken crypto exchange. It lets users maintain full control over their private keys while integrating directly with their exchange accounts via Kraken Connect. Available on iOS, Android, and web, the application supports core layer-1 networks such as Bitcoin, Ethereum, Solana, and Dogecoin, as well including Arbitrum, Base, Optimism, Polygon, Linea, Robinhood Chain, and Ink.
A notable operational strength is pricing transparency. Kraken charges 0% in wallet access or platform fees for in-app swaps, with users paying variable blockchain gas, DEX liquidity provider execution fees, and bridge costs. The app serves different onboarding preferences: users can create traditional 12-to-24-word recovery phrase accounts or set up embedded smart accounts via Google or Apple logins, with passkey authentication and selective transaction fee sponsorship on supported EVM chains.
The product exhibits notable trade-offs. The app lacks built-in perpetuals trading, focusing on spot swaps and vault deposits.
Specs
| KYC required ⓘ | No · unverified |
|---|---|
| Wallet type | Mobile, Web · unverified |
| Custody | Self-custodial · unverified |
| Chains | Bitcoin, Ethereum, Solana, BNB Chain, Polygon, Base, Arbitrum, Optimism, Other · unverified |
| Platforms | iOS, Android · unverified |
| Open source | Yes · unverified |
| In-app swaps | Yes · unverified |
| NFT support | Yes · unverified |
| Buy crypto in app | Yes · unverified |
| Security features | Passkey support, Seed phrase backup, Watch-only wallets, Address book · unverified |
| Recovery without a seed phrase | Yes · unverified |
| Passkey login | Yes · unverified |
| Swap fee | 0% · unverified |
| Perpetuals trading | No · unverified |
Not disclosed by the provider: Hardware wallet support, Staking, WalletConnect, Multisig, Built-in dApp browser.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Multichain custody
Stores native assets across Bitcoin, Ethereum, Solana, Ink, Base, Dogecoin, Polygon, Arbitrum, and BNB Smart Chain.
Passkey and social logins
Offers embedded wallet creation using Google or Apple credentials alongside WebAuthn passkeys without a mandatory seed phrase.
Zero platform fee swaps
Aggregates decentralized liquidity for cross-chain and same-chain token trades without adding an intermediary app fee.
Sponsored gas transactions
Subsidizes gas costs for qualifying transactions executed through embedded wallets on supported EVM blockchains.
Kraken Connect transfers
Directly links exchange balances to self-custodial addresses to streamline crypto withdrawals from Kraken accounts.
DeFi portfolio tracking
Monitors vault deposits, vault deposits, token balances, and NFTs across supported networks in a single dashboard, token balances, and NFTs across supported networks in a single dashboard.
Inside Kraken Wallet
Portfolio
Displays aggregated balances across crypto, tokenized assets, NFTs, and active DeFi vault positions in a single multichain view.
DeFi
Connects users to onchain protocols to deposit assets into decentralized earning vaults.
Swap
Facilitates token trades and cross-chain bridging across supported networks with zero added platform fees.
Kraken Connect
Links the self-custodial wallet to a Kraken exchange account for streamlined transfers between platforms.
Address book
Stores trusted recipient addresses for future onchain transfers.
Kraken Wallet screenshots
What users say about Kraken Wallet
User sentiment is sharply divided between App Store reviews praising the platform's ease of use and Reddit reports detailing serious issues. The most prominent complaints center around sudden account restrictions, held withdrawals, and slow or unresponsive customer support.
Top goods
In their own words
“Amazing! I’ve used a handful of exchange apps, wallets, dapps…Kraken is the most user friendly and easiest to use by far!”
“Awesome Crypto exchange Easy crypto purchases and interface easy to navigate. Fees aren’t bad as well. Great with big deposits and withdrawal.”
“Support is slow I used to love kraken but when your funds are held and it’s all the money you have and it’s been the better part of 5 days and support still hasn’t gave me answers it makes me want to never use the platform again this will be my last time use ing the app for sure”
“Ruined a good app The app used to be so good—not cluttered, easy to navigate, and very user friendly. With this recent update, the main page is overrun with twitter/x posts and articles. They’re literally half of the screen.”
“I recently lost my job so I was trying to withdraw about 19 LTC (\~$970 USD) out of my emergency fund. But then Kraken stopped the withdrawal for "security reasons" and restricted my account so I can't even talk to support. They said they'd reach out in 5 business days but that's come and gone.”
Scam warning: Scammers are impersonating Kraken support on Discord and social media to offer fake loan programs.
Based on 100 Reddit posts and comments, 39 App Store reviews from the last 12 months, checked Oct 23, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Kraken Wallet? Share your experience below.
Funding and investors
$5MTotal raised
2Rounds
3Investors
FAQ
Who founded Kraken Wallet?
Kraken Wallet was developed by Payward, Inc., the company founded by Jesse Powell, Thanh Luu, and Michael Gronager. The parent firm is led by co-CEOs Dave Ripley and Arjun Sethi.
What are the fees for using Kraken Wallet?
Kraken Wallet is free to download and adds a 0% platform fee on built-in token swaps. Users only pay standard blockchain gas, DEX liquidity provider execution fees, and bridge costs.
Do you need KYC to use Kraken Wallet?
No identity verification or KYC is required to download, create, or hold funds in a self-custodial Kraken Wallet. KYC requirements may differ when using a custodial Kraken exchange account.
Which blockchains does Kraken Wallet support?
The wallet supports Bitcoin, Ethereum, Solana, Dogecoin, Ink, BNB Smart Chain, Polygon, Base, Arbitrum, Optimism, Linea, and Robinhood Chain.
Is Kraken Wallet custodial or non-custodial?
Kraken Wallet is completely self-custodial, meaning users retain sole ownership of their recovery phrases and private keys.
Can you use Kraken Wallet without a seed phrase?
Yes, you can create an embedded wallet using an email, Apple, or Google account with passkey support. You can also import or generate standard secret recovery phrase wallets.
Latest from Kraken Wallet on X
Imagine getting the chance to chat with a FIFA World Cup winner this Christmas. 🎄
Ten lucky winners will get exactly that.
A 30-minute video call with @Podolski10 on December 15.
Enter by December 1 ↓
https://t.co/imwLqYmTLm https://t.co/8tbN5OyI4H
Ten lucky winners will get exactly that.
A 30-minute video call with @Podolski10 on December 15.
Enter by December 1 ↓
https://t.co/imwLqYmTLm https://t.co/8tbN5OyI4H
Happy #Bitcoin White Paper Day to all who celebrate
https://t.co/8ajy9GezYY
https://t.co/8ajy9GezYY
GM 🎃 https://t.co/oNvVmweBGt
Trading the Aftermath: Navigating Markets Under Pressure https://t.co/PHPQNIngRx
Recent public posts from @krakenfx, shown as published. Not reviewed or endorsed by CryptoReview.
Alternatives to Kraken Wallet
Open-source, self-custodial mobile wallet supporting over 100 blockchains and built-in cross-chain swaps
No KYCMobileSelf-custodialEthereum · Bitcoin +13
Self-custodial mobile wallet with built-in DEX routing across more than 18 blockchains
No KYCMobileSelf-custodialEthereum · BNB Chain +7
Open-source, non-custodial multi-chain wallet with built-in Tor and privacy-preserving assets
No KYCMobile · DesktopSelf-custodialBitcoin · Ethereum +7
Non-custodial DeFi wallet and multichain aggregator covering 10,000+ assets across 48+ networks
No KYCMobile · WebSelf-custodialEthereum · Bitcoin +9
Self-custodial Cosmos wallet launched in 2021, now supporting almost 350 networks
Mobile · Browser extension +1Self-custodialEthereum · Bitcoin +4
Self-custody MPC crypto wallet supporting over 60 blockchains without traditional seed phrases
Mobile · Browser extension +1MPC (shared)Ethereum · Bitcoin +10