Kraken vs Wealthsimple: Which crypto platform is better?

Kraken and Wealthsimple are two popular options if you want to trade crypto in Canada. Kraken is a global exchange that operates in over 190 countries, while Wealthsimple is a Canadian fintech. Both offer an easy way to buy and sell crypto online, but which one is better? Let’s compare Kraken vs Wealthsimple head-to-head to find out.

Kraken vs Wealthsimple: Supported coins and tokens

Kraken users can trade over 630 cryptocurrencies globally, including some of the best cryptocurrencies to buy right now. You can buy directly with Canadian dollars or use one crypto to purchase another.

Wealthsimple lets you trade over 140 cryptos, including majors like Bitcoin and Ethereum as well as lesser-known altcoins. You can buy crypto with Canadian dollars or perform a crypto swap to exchange one digital currency for another.

Who’s the winner?

Kraken provides access to a wider range of coins and tokens.

Kraken vs Wealthsimple: Fees

Kraken fees vary depending on whether you place an instant buy/sell order or use Kraken Pro. Instant buy/sell transactions come with a 1% trading fee and a spread (which varies depending on the transaction). Some payment methods are free, such as wire transfers and e-Transfers, but you’ll incur a $0.25 + 3.75% fee if you pay by debit card.

Meanwhile, Kraken Pro fees are much lower, with 0.0% – 0.40% maker fees and 0.05% – 0.8% taker fees. However, you will also need to take withdrawal fees into account.

Over at Wealthsimple, there are two factors that determine trading fees:

• The value of the assets you have with Wealthsimple
• Your trading volume

Trading fees range from 0.05%–2%. But while that 0.05% might sound low, you’ll need a 30-day trading volume of at least $10 million to get it. But if you’re a Core client with a 30-day trading volume of less than $10,000—which we think is most casual crypto investors— your trading fee is either 1.5% or 2%.

Fee type	Kraken	Wealthsimple
Minimum deposit	$1	$1
Trading fees	Instant buy/sell transactions: 1% trading fee $0 for e-Transfers and wire transfers, but a fee applies to some other methods Spread also applies. Kraken Pro: Maker (Pro account): 0%-0.40% Taker (Pro account): 0.05%-0.80%	Baseline trading fee: Core 2%, Premium 1%, Generation 0.5% Volume-based fee: 0.05%–2%, depending on 30-day trading volume
Staking fees	Up to 30% of staking rewards	Core and Premium: 30%, Generation: 15%
Deposit fees	$0 for e-Transfers and wire transfers Debit card: $0.25 + 3.75% SWIFT transfer: $3 In-person cash or debit at a Canada Post location: $1.25 + 0.25% Bill payment: 0.25% per transaction (up to a maximum of $30)	$0
Withdrawal fees	e-Transfer: $10 Electronic funds transfer: 0.35% SWIFT transfer: $13	Varies by crypto and fiat
	Go to site	Go to site

Who’s the winner?

Kraken Pro has lower fees for most people and a simpler fee structure.

Kraken vs Wealthsimple: Canadian regulatory bodies

For the safety and security of your funds, it’s vital that you trade on a crypto exchange that’s regulated in Canada and is authorized to do business with Canadians. Happily, both Kraken and Wealthsimple tick this box.

Kraken is registered as a Restricted Dealer by the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA). It’s also registered as a Money Services Business with FINTRAC.

Wealthsimple is a member of the Canadian Investment Regulatory Organization (CIRO) and is registered as an Investment Dealer with the OSC. It’s also registered as a Money Services Business with FINTRAC.

Who’s the winner?

It’s a tie. Kraken and Wealthsimple are legit providers and are both regulated in Canada.

Kraken vs Wealthsimple: Payment methods

Kraken accepts e-Transfers, wire transfers, SWIFT transfers, debit/credit cards, bill payments and crypto deposits. You also have the option to deposit using cash or debit at a Canada Post location.

Wealthsimple offers plenty of payment methods too. You can deposit funds via bank transfer, e-Transfer, debit card payment, wire transfer and crypto transfer.

Who’s the winner?

Kraken supports more payment options, including the flexibility of cash deposits.

Kraken vs Wealthsimple: Trading tools

If you’re looking for a quick and easy way to buy crypto with CAD, Kraken and Wealthsimple have both got you covered. Both platforms support market and limit orders and allow you to place a buy or sell order in a couple of minutes.

But while Wealthsimple only offers one platform, Kraken also offers a separate platform for advanced traders—Kraken Pro. As well as lower trading fees, Pro comes with features like a customizable trading layout, advanced charting tools and technical indicators, live market data and a host of advanced order types. These features are also available in a dedicated Kraken Pro app, so Kraken offers tools to suit both beginners and more advanced traders.

Who’s the winner?

Kraken offers more advanced charts and order types for experienced traders.

Kraken vs Wealthsimple: Security features

Kraken was founded in 2011, so it’s one of the oldest crypto exchanges in the world. The platform also says that its crypto infrastructure is kept in secure cages protected by alarms, video monitors and constant surveillance. Data encryption, two-factor authentication, and an extra layer of approval when you add a new withdrawal address are some of Kraken’s key protective measures. The platform also works with an external auditor to carry out proof-of-reserves reviews, providing added peace of mind for investors.

And if you ever have any problems or concerns with your Kraken account, support is available 24/7.

Over on Wealthsimple, most client crypto funds are held in trust in offline storage with three custodial partners. Each of those partners has over $75 million of insurance protection, while coins and tokens that Wealthsimple holds in hot wallets are protected under a partnership with Coincover.

Wealthsimple also has two-factor authentication, 256-bit encryption, 24/7 chat support and a full-time security team. Finally, any cash (but not crypto) you hold with Wealthsimple is covered by the Canadian Investor Protection Fund (CIPF).

Related: 7 best crypto wallets in Canada in 2025

Who’s the winner?

Wealthsimple. We like the peace of mind of dealing with a Canadian platform that has strong security features and the added advantage of CIPF protection for your cash.

How do the mobile apps for Kraken vs Wealthsimple compare?

Kraken offers two separate mobile apps for iOS and Android: the standard Kraken app and Kraken Pro. You can use the standard app to check your portfolio balance, buy and sell crypto, send crypto, stake your coins and tokens and access support. The Pro app adds a range of advanced features and tools, including real-time prices, charting tools and advanced order types.

Meanwhile, Wealthsimple offers crypto trading alongside a host of other features in its mobile app. So not only can you check your portfolio and buy and sell crypto from your phone, but you can also trade stocks and ETFs, manage your Wealthsimple Chequing Account, check your cashback earnings with the Wealthsimple Credit Card, and much more.

Check the table below for details of what iPhone and Android users think of the Kraken and Wealthsimple apps.

	Kraken	Wealthsimple
Apple App Store rating	4.7/5 based on 30,000+ reviews (Kraken) 4.7/5 based on 24,000+ reviews (Kraken Pro)	4.6/5 based on 128+ reviews
Google Play rating	4.5/5 based on 50,000+ reviews (Kraken) 4.6/5 based on 48,000+ reviews (Kraken Pro)	3.4/5 based on 80+ reviews

* Ratings as of 22 April 2026.

Who’s the winner?

Kraken. Both providers offer user-friendly mobile apps, but Kraken’s apps have higher average user ratings.

Other features we like about Kraken vs Wealthsimple

Staking

Kraken lets you stake over 20 cryptos, allowing you to generate returns from a wide range of holdings. Flexible staking ensures that you can access your tokens whenever you need, or you can lock your tokens away with bonded staking to earn higher rewards.

Staking is also available through Wealthsimple, but only with 4 cryptos: Cardano (ADA), Ethereum (ETH), Polkadot (DOT) and Solana (SOL).

Other assets and investments

One key difference between Kraken and Wealthsimple is that while Kraken is crypto only, Wealthsimple allows you to invest in a variety of other assets. It offers commission-free trading of Canadian and US stocks and ETFs, plus you can trade options and invest in physical gold.

Wealthsimple also provides access to a range of diversified ETF portfolios with its robo advice service, and offers other financial products like a chequing account and credit card.

Recurring buys

Kraken and Wealthsimple both allow you to set up recurring investments. This allows you to adopt a dollar-cost averaging strategy and automatically buy crypto on a regular schedule. Both platforms allow you to choose from a daily, weekly, biweekly or monthly schedule.

Membership

Kraken+ is a US$4.99/month membership program that provides you with a range of perks and benefits. These include waived fees on up to $10,000 worth of trades per month, access to exclusive airdrops and priority support.

Wealthsimple does not offer a membership program.

Customer support

One of the key features of Kraken is that users can access customer support 24/7. Advanced traders get priority support as part of the Kraken Account Management program, allowing them to access a personal account manager when needed.

Wealthsimple also offers 24/7 live chat support, and it has a useful online help centre where you can find answers to commonly asked questions.

What does Reddit think of the Kraken vs Wealthsimple debate?

Browse crypto Subreddits and you’ll always find plenty of conflicting opinions about which crypto exchange is best. As for the Kraken vs Wealthsimple debate, both platforms have a reputation on Reddit as legit and safe exchanges.

Users point out that Kraken offers much lower trading fees, so buying crypto on Wealthsimple comes at a high cost. But some users point out a key benefit of Wealthsimple is that it lets you trade stocks and ETFs too, so you don’t have to worry about the time and hassle of opening accounts on separate platforms if you want to trade multiple assets.

Who’s the final winner?

Kraken is the winner. It offers more cryptos, lower fees and more trading tools.

However, that doesn’t necessarily mean it’s a better choice for you than Wealthsimple. If you also want to trade stocks and ETFs or use a Wealthsimple Chequing Account or credit card, you can manage all your crypto and other financial products in a single app.

Wealthsimple is also a good choice if you’re just searching for a quick and easy way to buy crypto.

Alternatives to Kraken and Wealthsimple

Still not convinced that either Kraken or Wealthsimple is right for you? Check out these alternative exchanges.

Bitbuy

Bitbuy is a Canadian exchange that was founded in 2016, making it one of Canada’s oldest crypto platforms. It lets you trade over 65 cryptos with as little as $10, while staking is also supported for a limited range of assets. Interac e-Transfers and wire transfers are the available payment methods, while Bitbuy also offers its Bitbuy Pro Trade platform for experienced traders.

Dive deeper: Read our full Bitbuy review

Coinbase

Founded in 2012, US-based Coinbase is one of the world’s largest and best-known crypto exchanges. It operates in over 100 countries and lets Canadians trade over 200 coins and tokens. You can trade online or via a highly rated mobile app, with a wide range of payment methods supported. Coinbase also offers a good selection of advanced tools for experienced traders with its free Coinbase Advanced features.

Dive deeper: Read our full Coinbase review

Paybis

Paybis is a global crypto platform that operates in over 180 countries worldwide. It lets you buy over 80 cryptos and sell fewer than 10, and its focus is on quick and easy purchases with Canadian dollars. The platform also provides 24/7 support, so help is always at hand when needed.

Dive deeper: Read our full Paybis review

VirgoCX

VirgoCX is another Canadian exchange that is a popular option for crypto traders. Founded in 2018, it allows you to trade more than 90 cryptos, with free cash deposits and withdrawals. You can buy crypto with CAD and USD, and instant account funding is available via e-Transfer. Other platform features include a rewards program for frequent traders and the ability to trade online or via a user-friendly mobile app.

Dive deeper: Read our full VirgoCX review

Frequently asked questions about Kraken vs Wealthsimple

• Is Wealthsimple better than Kraken?

  It depends on your crypto trading needs. We think Kraken is a better choice than Wealthsimple for more people—it offers more cryptos, lower fees and a simple trading experience—but there are also situations where Wealthsimple may be a better option for you.

  One of Wealthsimple's strengths is that it makes it quick and easy to buy crypto with CAD, so it's worth considering if you're new to digital assets. Wealthsimple also offers stock, ETF and gold trading, plus things like a chequing account and a credit card, so it provides a more diversified range of products if you want more than just crypto trading.

• Is Wealthsimple crypto secure?

  Yes, Wealthsimple implements a range of security measures to help protect your funds and data. Data encryption, two-factor authentication and suspicious activity monitoring combine to protect your funds, while any cash you hold with Wealthsimple is covered by the Canadian Investor Protection Fund (CIPF).

  Most cryptos held with Wealthsimple are held in trust in cold storage with three custodial partners, each of which has more than $75 million of insurance coverage.

• Is my money safe on Kraken?

  Kraken is generally regarded as a safe and secure crypto platform. It has ISO/IEC 27001:2022 security certification and uses measures such as two-factor authentication, email confirmations when you add a new withdrawal address, and data encryption. Kraken is also properly regulated in Canada and is authorized to do business with Canadians.

• Are Wealthsimple and Kraken available outside Canada?

  Wealthsimple is a Canadian platform that is not available in other countries. But Kraken is a global crypto exchange that operates in over 190 countries around the world.

• Are Wealthsimple and Kraken good for beginners?

  Yes, both Wealthsimple and Kraken are suitable for beginners. Both platforms offer a user-friendly interface and make it quick and easy to buy crypto with Canadian dollars. They support multiple payment methods and are both simple to understand straight away, particularly Wealthsimple, while Kraken also provides access to a range of more advanced tools for experienced traders.