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Kraken and Crypto.com both carry a reputation as highly secure cryptocurrency exchanges. But the two companies have taken different approaches in proving their commitment towards securing users’ funds.
Kraken has a long history of promoting self-custody, proof of funds and self-insurance. On the other hand, Crypto.com has obtained more third-party security audits and certifications than any other cryptocurrency exchange in the world. Both exchanges offer top notch cryptocurrency services to their growing customer bases.
Find out which cryptocurrency exchange is better between Kraken and Crypto.com.
Round 1: Crypto.com vs. Kraken on vital statistics
There are some key differences between Crypto.com and Kraken worth highlighting. It seems like Kraken has opted to provide a small number of very high-quality services. Crypto.com provides a decent level of quality for its many services.
Although Crypto.com has more services including a Visa debit card, Kraken still has an edge on vital statistics due to its track record, high uptime and reliability. Kraken wins this round simply because it has been around longer and has never wavered in the quality of its service and its dedication to the adoption of cryptocurrencies.
Kraken offers far fewer cryptocurrencies to its users when compared to Crypto.com. Both exchanges offer all the major coins such as Bitcoin, Ethereum and USDT.
Since Crypto.com offers far more cryptocurrencies than Kraken, it’s the superior exchange from a supported coins perspective.
Crypto.com has established itself in many more countries than Kraken. This means Crypto.com gives its users the ability to use many more fiat currencies than Kraken. Both of them support major fiat currencies such as USD, GBP, EUR and CAD.
Due to the wider variety of fiat currencies Crypto.com offers, it wins the round on supported fiat currencies.
The main difference between the fee structure of Kraken and Crypto.com is that Crypto.com’s fee structure is based on volume and how much CRO the user has staked on the exchange.
Kraken has a simpler fee structure, as it’s only dependent on monthly volume. At the highest level, Kraken allows the maker of trades to trade for free. Both exchanges have free cryptocurrency deposits and charge similarly low fees for depositing fiat currencies.
Kraken wins the round on fees and costs because of its simpler fee structure and cheaper rates for maker trades.
Deposit Fees
ACH deposit - Fees vary ($10 minimum deposit) Credit and debit card - Fees vary ($10 minimum deposit) Apple Pay or Google Pay - Fees vary ($10 minimum deposit) Crypto - Free
None
Trading Fee
Maker: 0-0.16% Taker: 0.1-0.26%
Maker - 0-0.075% Taker - 0.05-0.075%
Withdrawal Fees
FedWire withdrawal - $4-$35 Crypto - Fees vary depending on coin or token
Cryptocurrency: Fees vary
Deposit methods
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT, ACH online banking
Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, Wire transfer, Apple Pay, Google Pay, SWIFT
Kraken doesn’t offer its own noncustodial wallet whereas Crypto.com has its own mobile wallet called Crypto.com DeFi Wallet. While Kraken leadership continually promotes the use of noncustodial wallets, this isn’t sufficient to qualify it for comparison against Crypto.com. On top of this, the Crypto.com DeFi Wallet is well-built and can interface directly with dApps across several blockchains.
Crypto.com wins the wallet round because it offers a world-class noncustodial wallet compared to Kraken’s lack of noncustodial wallet.
Winner: Crypto.com
Round 6: Security
Both cryptocurrency exchanges are distinguished in their approach to providing security for their users.
Kraken has been around longer than Crypto.com, with a perfect track record for hacks. It takes a proactive approach and is known for high-quality institutional-grade security. Crypto.com has turned to security firms and third-party auditors to instill confidence in its users.
Kraken wins the security round because of its longer track record and continual dedication towards improvement.
Winner: Kraken
Round 7: Ease of use
Even though Kraken offers fewer features and services than Crypto.com, it fails to simplify the user experience. It’s been on the receiving end of criticism with respect to the lack of usability of its user interface.
At the same time, Kraken provides one of the best trading terminal user experiences. This makes sense as Kraken’s core demographic is professional, high-volume traders.
Crypto.com targets beginners and has built its user interface for the sole purpose of making using and adopting cryptocurrency simple. For this reason, Crypto.com wins the ease of use round.
Winner: Crypto.com
Crypto.com vs. Kraken winner: Crypto.com
The competition was very close to a tie, but the aspect that made the difference was the fact that Crypto.com has built its own proprietary cryptocurrency wallet.
Kraken offers better fees and security, but Crypto.com gives a wider range of cryptocurrencies and services to its user base. This is an important fact that gives Kraken an honorable mention in its level of security.
Since Crypto.com’s service is oriented towards beginners and the exchange is accessible all over the world, it is the winner of this exchange comparison.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Keegan Francis was a cryptocurrency writer for Finder. He has been invested in cryptocurrencies since 2013 and writing about them since 2018. He has written and edited for CryptoVantage. In 2020 he and his wife Mrugakshee Palwe opted entirely out of the world of traditional finance and went "full crypto", covering their experience in the Go Full Crypto podcast and via a Substack newsletter. Keegan holds a Bachelor of Computer Science from Acadia University, and has attained graduate certificates from Ivan On Tech's lightning network course and the Consensys Academy Ethereum bootcamp. When Keegan is not working on cryptocurrency, he enjoys travelling, rock climbing and playing piano.
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