Deciding which exchange to sign up for when you enter the world of cryptocurrencies means a lot of information to sift through. Luckily, we’ve done side-by-side comparisons of all the top exchanges.
Kraken is a globally accessible crypto exchange that offers a variety of other services. eToro offers both crypto and traditional finance investment options to users. Find out which is better when we compare eToro vs. Kraken.
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.
Kraken and eToro are both US-based trading platforms with Financial Conduct Authority (FCA) compliance. Kraken is a much more crypto-focused platform, though, with a larger offering, NFT support plus futures and derivatives trading.
On the other hand, eToro offers users cryptocurrencies as well as stocks and commodities within the same platform. It features a Visa debit card while Kraken doesn’t. eToro also offers Copy Trading where users can copy the trading habits and portfolio of successful traders.
Both platforms offer the major crypto assets including Ripple (XRP).
But Kraken supports far more cryptocurrency coins and tokens than eToro does. Kraken also has far more trading pairs than eToro including direct pairs with most of its supported fiat currencies.
Kraken supports about twice as many fiat currencies as eToro does. In addition, it has trading pairs for crypto assets with almost all of its supported fiat currencies.
eToro only has support for USD, EUR and GBP, with trading pairs for USD only. eToro has more funding options for its supported fiat than Kraken, such as PayPal and Skrill.
Winner: Kraken
Round 4: Fees and costs
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. Minimum deposit amount is $10.
Trading Fee
Maker: 0-0.16% Taker: 0.1-0.26%
1% fee for buying or selling cryptoassets
Withdrawal Fees
FedWire withdrawal - $4-$35 Crypto - Fees vary depending on coin or token
None
Deposit methods
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT, ACH online banking
When comparing fees and costs between eToro and Kraken, eToro has lower trading fees than Kraken. eToro also has more funding options, with both platforms having comparable deposit and withdrawal fees, though eToro allows free fiat withdrawals over $50.
Winner: eToro
Round 5: Wallets
eToro has its own proprietary wallet while Kraken only has an exchange wallet.
The eToro Money Crypto Wallet lets you transfer Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, Tron, Cardano and Ripple to and from eToro. You can also swap within the wallet and send to another external wallet. You can’t use decentralized apps (dApps) with the eToro Money Crypto wallet.
Winner: eToro
Round 6: Ease of use
Though Kraken provides lots of guides and learning options for users, it’s still an inherently more complex platform to use than eToro. The varying fee structure and multiple buying options can be confusing for new users.
eToroX can be hard to find, but the fees even for the basic eToro buying and selling options are still lower than Kraken. eToro also has a simpler interface and allows you to copy other traders’ strategies for free.
Winner: eToro
Round 7: Security
Neither Kraken or eToro has ever experienced a significant hack, though individual accounts have been compromised.
Kraken takes a proactive approach by offering bug bounties for those who can find issues in Kraken’s security. It also does penetration testing of its systems and has a Kraken Security Labs team.
Neither exchange has a crypto insurance fund, but USD deposits on eToro are insured by the Federal Deposit Insurance Corporation (FDIC).
Winner: Kraken
eToro vs Kraken winner: eToro
Taking four out of seven categories in this comparison, eToro comes out on top compared to Kraken. Kraken provides better security, fiat and crypto support. However, eToro has comparable support in all those categories while also offering lower fees and a proprietary wallet.
eToro also offers more than just crypto investment options for traders. It has a Visa debit card, allowing users to spend their crypto in more places.
Neither exchange is a bad option. If you want to participate in crypto derivatives trading, you’ll need to use Kraken over eToro.
Go to
eToro's website
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.
Evan Jones is a writer for Finder. Evan was introduced to cryptocurrency during the 2017 bull market and has been writing about it full-time since 2019. Having already completed a degree in history, he has completed an editing certificate.
Learn about BitFinex cryptocurrency exchange where you can buy and sell 100+ coins and tokens. Discover features, fees and more in Finder’s BitFinex review.
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