Summary: Kraken is a privately-held crypto exchange not listed on any stock exchange, so its stock is not available for direct purchase. Instead, investors looking for exposure to the crypto sphere will have to invest in some Kraken alternatives available on investment platforms such as eToro.
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About Kraken
Kraken, also known as Payward, is a US-based cryptocurrency exchange. It is one of the earliest Bitcoin (BTC) exchange platforms to be featured on Bloomberg Terminal. Today, the platform boasts around 10 million users.
How to buy Kraken stock: Step-by-step
Kraken is a privately held company, so its stock is not listed on any stock exchange. Consequently, retail investors cannot buy Kraken shares on any investment platform. Instead, those looking to explore the crypto sphere will have to buy some Kraken stock alternatives, such as:
- Coinbase (NASDAQ: COIN): Coinbase is one of the leading and most recognizable cryptocurrency exchanges, offering a wide range of crypto-related services. It was founded in 2012. and today, it supports dozens of unique cryptocurrencies, operating as a distributed company with no physical corporate headquarters;
- Robinhood (NASDAQ: HOOD): Robinhood is an online brokerage facilitating the commission-free trading of not only crypto but also stocks and exchange-traded funds. It pays dividends and has been reporting steady income for a while now (the stock is up 96.20% since last year at the time of writing);
- CME Group (NASDAQ: CME): CME Group is a financial services company that runs a suite of financial derivatives exchanges, including the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, and The Commodity Exchange. Additionally, the company holds a significant 27% stake in S&P Dow Jones.
To invest in Kraken alternatives, you can:
- Find a broker: Find a brokerage platform that lists your desired shares;
- Register and fund your account;
- Place a trade: Find the stock on the broker’s platform and place a trade;
- Monitor your investment.
Step 1: Find a broker
To start investing, you need a reliable brokerage platform.
We recommend eToro, a leading stock trading platform with millions of daily users and trading features such as:
- Commission-free stock and ETF trading;
- Over 2,000 stocks from 17 different exchanges;
- Fractional shares;
- Charting tools;
- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
Step 2: Fund your account
Once you’ve chosen a brokerage, the subsequent step involves registering and funding your account, which means transferring funds from your bank account to your brokerage. Brokers generally offer multiple funding options, including bank transfers, wire transfers, and electronic funds transfers (EFTs).
Step 3: Place a trade
Once your account is funded, you’re ready to place your order. You can do so by following these simple steps:
- Log in on your broker’s trading platform;
- Find the stock you wish to buy;
- Specify the number of shares you wish to buy (or the dollar amount you wish to invest);
- Select order type (i.e., market, limit, stop-loss, etc.);
- Review all the details again;
- Execute the trade.
Step 4: Monitor your investment
After executing your trades, it’s crucial that you keep tracking your investments. Begin by utilizing the comprehensive charts and market analysis tools offered by your brokerage platform to monitor stock price movements and stay abreast of your portfolio’s performance.
Additionally, explore additional investment opportunities to make sure you diversify your investments across various assets. Moreover, you can make use of copy trading options on your brokerage platform to replicate effective trading strategies and navigate the market with confidence, especially if you’re still building your expertise in the market.
Kraken stock IPO
In November 2023, Kraken hinted at the possibility of an initial public offering (IPO). Kraken had previously submitted for review by the U.S. Securities and Exchange Commission (SEC), yet wasn’t deemed a solid candidate. Still, some recent reports indicate Kraken’s strategic moves to strengthen its leadership team with seasoned executives experienced in public offerings.
With a valuation of just under $11 billion, Kraken has one of the most robust legal and compliance units but still faces challenges, most notably a lawsuit filed by the SEC last year.
In short, an IPO is possible, but nothing can be said for sure as of yet.
Kraken valuation
Currently, Kraken is valued at around $10.8 billion. Despite aiming to double its valuation to $20 billion in the past few years, prior to a potential stock IPO, Kraken’s funding fell short compared to competitors like Coinbase and FTX. Binance, for example, Kraken’s major rival, boasts a valuation of nearly $300 billion, surpassing Kraken by a significant margin despite both exchanges growing at similar rates.
Pros and cons of investing in crypto exchanges
Pros
- Growth potential: The crypto sphere is rapidly expanding as the adoption of cryptocurrencies increases;
- Market position: Some companies, like Coinbase, are recognizable platforms even outside crypto;
- Diversification: Investing in crypto exchanges can help you diversify your investment portfolio, especially if you investing in cryptocurrencies themselves;
- Dividends: Some companies, like Robinhood, pay dividends.
Cons
- Reliance on crypto markets: Brokerage stock prices are heavily influenced by movements in the crypto-sphere;
- Regulatory risks: The cryptocurrency market is an uncertain environment;
- Liquidity concerns: Lower liquidity can result in wider bid-ask spreads, negatively impacting the attractiveness of the investment.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy Kraken stock
What is the Kraken stock symbol?
Kraken does not have its own stock symbol.
Who owns Kraken?
Kraken is a privately held company.
Will there be a Kraken stock IPO?
There are rumors of a potential Kraken IPO for 2024, but there is no official news yet.
Is Kraken listed on the stock exchange?
No, Kraken is not listed on the stock exchange.
How do I buy Kraken stock?
Kraken stock is not available for purchase as Kraken is a private company.
What is Kraken’s valuation?
Kraken is currently valued at around $11 billion.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
