According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- no
- Kvarn X mobile app
- Deposit and withdrawal in EUR and FIM, more than 50 cryptocurrencies, average market trading commissions, and passive income through staking.
Our Evaluation of Kvarn
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Kvarn is a high-risk cryptocurrency exchange with the TU Overall Score of 2.49 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Kvarn clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.
Kvarn is a prominent cryptocurrency exchange in Finland, extending its services to international clients. Its asset list is continuously updated, and new features are regularly introduced. Clients can build robust, diversified portfolios using a variety of strategies. Their funds are well-protected, thanks to an institutional-grade storage infrastructure with multi-layered security.
Brief Look at Kvarn
Kvarn's clients enjoy access to a diverse portfolio of 50 digital assets, encompassing popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Tether, TRON, USDC, XRP, and Dogecoin. Deposits can be made in any amount via bank transfers in Finnish marks or euros, or by transferring cryptocurrencies from external wallets. Trading fees range from 0.4% to 0.8% depending on the total transaction volume, and the clients trade through a proprietary Kvarn X app. Additional income options are accessible via the affiliate program and staking. Client support is readily available through three primary channels.
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- Swift registration and verification process.
- High liquidity for the majority of assets.
- A wide selection of in-demand cryptocurrencies is traded with competitive fees, which can be further reduced.
- The mobile app is user-friendly and functional, making it easy for beginners to navigate.
- Accounts with a balance or trading volume of €30,000 or more can access the Kvarn X Pro service for additional benefits.
- Clients receive up-to-date cryptocurrency news, articles, analytics, and training resources.
- The affiliate program is highly profitable, with staking rewards reaching up to 15% per annum.
- The platform's operations are overseen by the Finnish Financial Supervisory Authority (FIN-FSA), ensuring the secure protection of traders' finances and data.
- Funding an account with fiat currency is limited to bank transfers.
- Instant crypto/fiat exchange and demo accounts are not available.
- Technical support is accessible only on weekdays.
TU Expert Advice
Author, Financial Expert at Traders Union
Kvarn is a cryptocurrency exchange based in Finland, offering access to over 50 cryptocurrencies and enabling deposits in EUR, FIM, and digital currencies. It operates the Kvarn X mobile app, allowing users to engage in trading activities and explore opportunities for passive income through a profitable affiliate program and staking up to 15% annually. Its services are complemented by high liquidity, competitive trading fees, comprehensive educational resources, and protection by the Finnish Financial Supervisory Authority, ensuring users' data and funds are well-secured.
However, Kvarn has several drawbacks, including limited fiat funding options restricted to bank transfers, the unavailability of a desktop trading platform, and client support limited to weekdays. Additionally, P2P transactions and leverage trading are not supported. The platform may be suitable for traders focused on cryptocurrency investments and familiar with mobile trading, but those requiring broader fiat funding methods or desktop access may find its offerings lacking. Overall, Kvarn caters well to specific traders but may not meet the needs of others seeking more versatile trading solutions.
Kvarn Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Kvarn X mobile app for iOS or Android devices |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | EUR, FIM |
| 💵 Deposit / Withdrawal: | Bank transfer and cryptocurrency wallets |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | No |
| 💱 Commission: | Spot: 0,8%-0,8% |
| 🔧 Instruments: | 125 supported coins, Fiat. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | No |
| ⭐ Trading features: | Deposit and withdrawal in EUR and FIM, more than 50 cryptocurrencies, average market trading commissions, and passive income through staking. |
| 🎁 Contests and bonuses: | Yes (Traders Union’s rebates) |
Traders can deposit any amount of euros, Finnish marks, or cryptocurrencies to the exchange, from €10 to €10,000 or more. Unlike many similar platforms, Kvarn does not offer leverage. Client support is available via phone, email, and ticket system on weekdays from 10:00 - 16:00.
Kvarn Key Parameters Evaluation
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Regulation and safety
Kvarn has earned a rating of 9.75/10, demonstrating strong security and regulatory compliance. This score suggests that the exchange is generally reliable and offers a solid level of protection for users.
- 2FA
- Government-regulated
- No successful hacks history
- Cold wallet storage
- Tier-1 regulation
- No investor protection fund
- No facial recognition
- Not U.S regulated
Kvarn Security Factors
We also compared Kvarn against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| Kvarn | OKX | Kraken | |
| Tier-1 regulation | Yes | No | Yes |
| Government-regulated | Yes | Yes | Yes |
| Investor protection fund | No | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | Yes | Yes | Yes |
| Successful hacker attacks | No | No | No |
Is Kvarn a regulated crypto exchange?
Kvarn is regulated by a Tier-1 financial authority (e.g., in the U.S., UK, Germany, Spain, France, Australia, Singapore, or another jurisdictions with strict financial oversight). This ensures strong investor protection, compliance with stringent operational standards, and enhanced security for users trading on the platform.
Kvarn is authorized or licensed in accordance with local regulations in the following regions: Finland.
Is verification (KYC) mandatory at Kvarn?
Yes, KYC verification is mandatory at Kvarn. You will need to complete the verification process before you can open an account and access the platform's full range of services.
In which countries is Kvarn available?
Kvarn complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Botswana, Tanzania, United Republic Of, Zimbabwe, Namibia, Ethiopia, Jamaica, Zambia, Hong Kong, Afghanistan, Trinidad and Tobago, Brunei, Nepal, Serbia, Somalia, Cameroon, Rwanda, Slovenia, Eswatini, Croatia, Mongolia, Burma, Montenegro, Cambodia, Taiwan, Mozambique, Madagascar, Dominican Republic, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, Macedonia, Papua New Guinea, Costa Rica, Luxembourg, Malta, Ecuador, Bahamas, Haiti. For the most up-to-date information on regional availability, please contact Kvarn support.
Is Kvarn available in the USA?
Yes, Kvarn is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
Kvarn commissions and fees
Kvarn received a 5.95/10 score for its trading fees. While Kvarn is not the cheapest crypto exchange, the fees remain reasonable and competitive within the market.
- No deposit fee
- No Withdrawal fee
- Spot fee above industry average
- P2P fee applied
What are Kvarn trading fees?
We analyzed Kvarn’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
Kvarn trading fees vs competitors
| Kvarn | Nexus Trade | Paxful | Industry average | |
| Spot, maker fee (%) | 0,8 | 0,22 | 0 | 0.15 |
| Spot, taker fee (%) | 0,8 | 0,22 | 0 | 0.194 |
What are Kvarn deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % | 0 |
Does Kvarn offer P2P trading?
No, Kvarn does not support P2P transactions. However, you can explore the best alternatives in our dedicated list of top P2P exchange platforms, offering a variety of secure options for peer-to-peer transactions.
Deposit and withdrawal
Kvarn received a 4/10 rating for its deposit and withdrawal services. Kvarn offers limited funding options and may charge fees, which could be inconvenient for many users.
- No withdrawal fee
- Bank transfers for deposits and withdrawals
- No deposit fees
- Many cryptocurrencies for deposits and withdrawals
- No Google Pay option
- No P2P transfer option
- No support for bank card payments
Deposit and withdrawal options
Kvarn supports the following deposit and withdrawal options: Bank transfers, Crypto.
Kvarn Deposit and withdrawal options vs competitors
What is Kvarn minimum deposit?
The minimum deposit at Kvarn is 0 USD/USDT or 0 BTC. The minimum trade size is 0 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
Kvarn minimum deposit vs competitors
| Kvarn | OKX | Kraken | |
| Minimum deposit, USD or USDT | 0 | 10 | 10 |
| Minimum deposit, BTC | 0 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 0 | 0,00001 | 1 |
Does Kvarn support fiat money?
Kvarn supports fiat currency trading and account funding. The following fiat currencies are accepted:
Supported coins & markets
Kvarn received a score of 3.5/10 in this category, indicating a modest offering of assets and markets. While Kvarn covers essential trading functions, the number of supported coins, fiat currencies, and investment tools may be insufficient for users seeking more comprehensive options.
- Staking available
- Fiat currencies supported
- Copy trading not available
- NTFs not available
Kvarn supported coins and markets vs competitors
We compared Kvarn with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
| Kvarn | OKX | Kraken | |
| Supported coins | 125 | 329 | 278 |
| Futures/Perpetual contracts | No | Yes | Yes |
| Options | No | Yes | No |
| NFTs | No | Yes | Yes |
Kvarn passive income options vs competitors
We also compared Kvarn with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
Contacts
| Official site | https://www.kvarnx.com/ |
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