New card still has quirks
Only added the card in late 2025 so it’s still maturing. Had a couple of app glitches. Promising but not fully polished yet
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Kraken Krak Card reviews
A debit Mastercard from Kraken that spends from your account balance with no withdrawal step.
17reviews
+0reviews this month
0complaints this month
35%customers recommend
Experience ratings
User ratings
Average scores across key criteria.
Convenience4.3/10
Support4.4/10
Fees4.7/10
Functionality4.1/10
Reliability4.5/10
Safety4.3/10
Kraken Krak Card reviews
User experiences verified by a moderator.
Not available in most of the world
EEA and UK only, US just got a different version. If you’re outside those regions you can’t use it. Limited reach for now
Split payment across assets is clever
Love that I can pay from several assets in one transaction and pick the spend order. Converts in real time. More flexible than most cards out there
Support is standard exchange fare
Never had a disaster but the one time I needed help it was slow and generic. Hope I never have a real problem with my funds on there
Cashback pays instantly in BTC
Set my rewards to BTC and they hit instantly with no monthly cap. Stacking sats on everyday spend feels good. Kraken’s track record helps me trust it
Welcome boost then reality
New users get a temporary 2% boost which is nice but once it ends and your balance is low you’re back to basically nothing. Bit of a bait
Built for Europe first
Refreshing that this was made for the EU from the start instead of a US afterthought. Metal card looks great and the vault yield in the UK is a bonus
Metal needs 50k in assets
Wanted the metal card but it requires €50,000 across your accounts. That’s aimed at whales, not regular users. The nice tier is out of reach
0% cashback under €200 balance
The catch nobody mentions, you earn zero cashback until you keep €200 in balance, and the 2% needs €50k parked. For small balances the rewards are nothing
Genuinely zero fees
Kraken actually delivers on the 0% fees, no transaction FX or ATM fee from their side. The 1% cashback is real because nothing eats into it. Most honest card in the EU imo
Virtual IBAN is a nice touch
Beyond the card you get a virtual IBAN and can even do salary deposits with a match. Feels more like a proper account than a bolted on exchange card. Impressed
Funds sit on Kraken
It’s custodial, your money lives on Kraken’s platform. Proof of reserves helps but it’s still not self custody. Exchange risk applies
Conversion spread is the hidden cost
They say 0% everywhere but there’s a variable, undisclosed conversion spread when you spend crypto. So paying from crypto is never actually free. Sneaky
Cashback tiers need big balances
The tiered cashback by 30 day average balance means you need serious money parked to get the good rate. For average folks it’s stuck near the bottom
Vault yield fees eat the APY
The 3.6% APY headline drops to about 2.7% after their 25% performance fee. And it’s the higher risk options. The advertised rate is misleading
Third party ATM fees still apply
Kraken charges 0% at ATMs but the ATM operator still charges you. So ‘free’ withdrawals aren’t really free. Minor but worth knowing
Small purchases and refunds don’t earn
Purchases under €0.49, refunds, transfers and ATM none of it earns cashback. Lots of carve outs. The rewards are narrower than they look
About the product
Kraken Krak Card overview
Kraken Krak Card is a debit card tied directly to your Kraken account. It lets you spend the balance held on the exchange without first withdrawing to a bank account.
Key terms
- Card type: Debit Mastercard
- Supported currencies: fiat: EUR, GBP; BTC, ETH, USDT; and other assets available on Kraken
- Where it works: EEA countries, United Kingdom
- Fees: 0% virtual card issuance; per Kraken pricing; ATM withdrawal fees may apply
Key features
The card runs on Mastercard and is accepted wherever that network works, with assets converted into fiat at the market rate at the point of sale. You apply through the Kraken mobile app: after verification you can issue a virtual card and add it to Apple Pay or Google Pay. Like most exchange cards, Krak Card has no credit line — you can only spend what is on your balance.
How to get the card
- Create an account on Kraken and pass verification (KYC).
- Apply for the card in the Card section.
- Fund your exchange balance with a supported asset and add the card to Apple Pay or Google Pay.
Frequently asked questions
It is a debit Mastercard linked to your balance in the service. At checkout the crypto is converted into fiat and the transaction is routed through the Mastercard network, so the card works anywhere that payment system is accepted.
The stated coverage is EEA countries, United Kingdom. The exact country list and local restrictions are set by the issuer, so check the terms for your country of residence before applying.
Yes, in most cases you need to register and pass KYC with an ID document. Some issuers also ask you to confirm a residential address in a supported region.
The baseline terms are: 0% virtual card issuance; per Kraken pricing; ATM withdrawal fees may apply. On top of that, factor in the conversion rate, ATM fees and any charges from the payment partner — the issuer always publishes the current pricing.
In most cases yes: the card can be added to a mobile wallet for contactless payments. Availability depends on your country and the payment partner's rules.