Kraken vs. Gemini: Which cryptocurrency exchange is better?

Kraken and Gemini are both long-standing and reputable cryptocurrency exchanges. They were founded in 2014 and 2011, respectively.

The thing that Kraken and Gemini have in common is they both pursue a route of compliance with respect to security and regulators. Both companies are global cryptocurrency exchanges, and offer a wide range of services such as trading and earning.

Find out the winner of a comparison between Kraken and Gemini.

Round 1: Kraken vs. Gemini on vital statistics

The first interesting thing about these cryptocurrency exchanges is that both are registered. This speaks to their commitment to conform to regulations, which helps establish trust with customers.

Both exchanges offer quality services, but their range of cryptocurrencies is lacking, as is the number of use cases. From a vital statistics point of view, these exchanges offer many of the same things at similar quality levels.

Overall rating	★★★★★	★★★★★
Costs rating	★★★★★	★★★★★
Registered
Exchange location	USA	United States, Australia
Offers a debit card
Earn returns on crypto
	Go to site More Info	More Info

Winner: Draw

Round 2: Supported coins

Kraken and Gemini are neck and neck in terms of how many cryptocurrencies their platforms offer. However, there are a couple of key differences in which cryptocurrencies are offered.

For example, Kraken has opted to not support XRP, whereas Gemini offers XRP trading. Both exchanges have curated a unique set of coins for their users.

Number of tradeable crypto assets	186	102
	Go to site More Info	More Info

Winner: Draw

Round 3: Supported fiat currencies

The number of fiat currencies Kraken and Gemini offer is very similar. Gemini only has a slight edge due to its offering of SGD and HKD.

Both exchanges support the major currencies such as USD, CAD, EUR, GBP and AUD.

Number of supported fiat currencies	8	7
Supported fiat currencies	GBP, AUD, EUR, CAD, USD, JPY, CHF, AED	GBP, AUD, EUR, CAD, USD, HKD, SGD
	Go to site More Info	More Info

Winner: Gemini

Round 4: Fees and costs

Kraken comes to this round with a much simpler fees and costs structure for cryptocurrency beginners. Gemini has a fee on trades over $200 and flat rates on orders beneath that threshold. Then there is a convenience fee. Kraken has rates that decrease based on your monthly exchange volume. This is a much simpler and cheaper schema for beginners.

Minimum deposits		$0
Deposit Fees		Cryptocurrency: None Bank transfer (ACH): None, bank fees may apply Wire Transfer: Determined by your bank Debit Card: 3.49% + Trading Fees Paypal: 2.50% of total deposit amount + Trading Fees
Trading Fee		≤ $10.00: $0.99 > $10.00 but ≤ $25.00: $1.49 > $25.00 but ≤ $50.00: $1.99 > $50.00 but ≤ $200.00: $2.99 > $200.00: 1.49% of your Web Order value
Withdrawal Fees		Cryptocurrency: None (for 10 withdrawals and below per month) Others: None (for 10 withdrawals and below per month)
Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay	Bank transfer (ACH), Cryptocurrency, Debit card, PayPal, Apple Pay, Google Pay, SWIFT
	Go to site More Info	More Info

Winner: Kraken

Round 5: Wallets

Neither Kraken nor Gemini have created their own wallet for their users. Despite the exchanges having been around a long time, both have opted to optimize their trading platforms, and not venture into wallet territory. They recommend that users take advantage of noncustodial wallets.

Winner: Draw

Round 6: Ease of use

Gemini has a slight edge over Kraken here due to its better designed and more intuitive user interface. Kraken’s interface is difficult to navigate making it challenging for beginners. Both exchanges offer tutorials, guides and learning portals for teaching users how to navigate their platforms.

Winner: Gemini

Round 7: Security

Kraken and Gemini have never been hacked before. They both have a long track record of adhering to security best practices and encouraging users to do the same. They both advocate for strong user-focused security such as 2FA, and address whitelisting.

In terms of insurance, Gemini has one of the largest amounts of insurance of any cryptocurrency exchange. Kraken has opted for self-insurance, and has a longer track record of not being hacked.

Winner: Gemini

Gemini vs. Kraken Winner: Gemini

Although many of the rounds ended in a tie, Gemini won overall.

It was close because both exchanges are top-notch and provide world-class service. The features that gave Gemini a slight edge was its offering of fiat currencies and its well-designed user interface. To top it off, its large insurance fund tends to give skeptical cryptocurrency beginners a better feeling when putting their money on an exchange.

For all these reasons, Gemini wins against Kraken for best cryptocurrency exchange for beginners.