Kraken vs Binance – Which is Best in 2026?
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
This Kraken vs Binance guide compares the two leading crypto exchanges based on supported markets, fees, security, customer support, trading tools, and more. We tested both platforms firsthand to discover where they shine and pinpoint the areas they need to improve. It’s an overall tight race, but each platform excels in different metrics.
Based on our research, Binance is the better choice if you’re looking for extensive trading tools, deep liquidity, and a substantial selection of supported coins. Kraken, on the other hand, is a preferred option if you’re based in the US, UK, or Canada, or value transparency and regulatory compliance.
Read on to learn what each exchange offers and find the best fit for your needs:
Kraken vs Binance – Our Verdict
We found that Kraken and Binance both offer a great trading experience, with premium liquidity and a wide range of analysis tools. Kraken is perhaps the better option for long-term investors seeking a regulated trading environment. It’s licensed in multiple jurisdictions, including the US, UK, and Canada.
Kraken is also renowned for its robust security features and enhanced transparency. Binance is a better option for short-term traders seeking a wider range of markets. Not to mention automated tools like copy trading and algo bots. Binance also offers lower trading fees when compared to Kraken, and a greater range of earning tools.
However, Binance has had multiple issues with global regulators, including a recent charge of $4 billion by the Department of Justice for money laundering failures. Binance has previously encountered a hacking breach, too, which Kraken has avoided since launching in 2013.
Nonetheless, both Kraken and Binance support fiat money, making it simple for investors to purchase cryptocurrencies with local payment methods. Each offers a mobile app, allowing users to trade on the move. Traders will also find leveraged products on both platforms, including perpetual futures with short-selling features.
Overall, both platforms are good choices. However, Kraken has a slight edge due to its strong emphasis on security and regulation, as well as user-friendliness, which are key considerations when deciding where to trade and store your crypto.
Binance vs Kraken: Head-to-Head Comparison
Now let’s compare Binance and Kraken side by side, based on key metrics like global availability, supported cryptocurrencies, and trading products and services:
| Kraken | Binance | |
| Licensing | Approved in the US, Canada, UK, European Union, Australia, UAE | Approved in the US, France, Italy, Lithuania, Spain, Poland, Sweden, Kazakhstan, UAE, Bahrain, Australia, India, Indonesia, Japan, New Zealand, Thailand, Mexico, El Salvador, South Africa |
| Number of Cryptos | 540 | 530 |
| Max Spot Trading Commissions | 0.40% | 0.10% |
| Instant Fee to Buy Bitcoin With Fiat | Built into the exchange rate. Displayed on the order screen | Depends on the currency and payment method |
| Trading Tools & Features | Charts, indicators, leveraged futures, margin accounts, staking, NFT trading | Charts, indicators, leveraged futures and options, staking and other earning tools, copy trading, bots |
| Mobile App Rating | 7/10 | 9/10 |
| Payment Methods | ACH, SEPA, bank wires, debit/credit cards, Google/Apple Pay | ACH, SEPA, local bank transfers, debit/credit cards, P2P |
| Minimum Deposit | Depends on the payment method ($10 for most providers) | Depends on the payment type (generally between $1 and $10) |
| Demo Account | Yes, futures only | Yes, futures only |
Kraken vs Binance: Tradable Cryptocurrencies
- Kraken: 8/10
- Binance: 7.5/10
Tradable cryptocurrencies should be considered when making a Kraken vs Binance comparison.
Starting with Kraken, the cryptocurrency exchange offers 540 digital assets, including some of the best cryptocurrencies to buy. This includes everything from BTC, SOL, and XRP to ETH, DOGE, and AVAX. Kraken has also steadily expanded its selection of lower-cap tokens, such as ROOK, BSX, KINT, and TEER.
Binance currently offers 530 digital assets, slightly falling behind Kraken. Its offerings include large and small caps and everything in between. The exchange is becoming more selective in which markets it offers. It previously offered more than 600 digital assets, so it frequently delists projects with limited demand.
Do note that both Kraken and Binance support spot trading and futures. The above markets are related to the spot exchange. We discuss futures and other leveraged products later in this comparison. Additionally, we should stress that other crypto exchanges offer a much larger selection of spot markets, with some offering thousands of coins and tokens.
Kraken Fees vs Binance Fees
- Kraken: 8/10
- Binance: 9/10
This part of our Kraken vs Binance comparison will explore trading costs and fees:
Spot Trading Commissions
Kraken and Binance have both implemented a market maker/taker system.
- Market makers place ‘limit orders’, meaning they set their own prices and provide liquidity to the exchange
- Market takers place ‘market orders’, meaning they buy and sell cryptocurrencies based on the available prices
Like most exchanges, maker makers get the lowest commissions. What’s more, commissions are reduced when meeting trading milestones. This is based on 30-day volumes at both Kraken and Binance.
So, Kraken’s entry-level commission is 0.4% per slide for market takers. And 0.25% for market makers. This is reduced to 0.35% and 0.2% when trading at least $10,000 in a 30-day period. The lowest spot commission at Kraken is 0% for market takers, which requires a monthly volume of $10 million.
With Binance trading fees, the entry-level commission is 0.1% for both takers and makers. This is reduced to 0.09% for market makers when trading at least $1 million. The lowest commissions on Binance are 0.012% and 0.024% for makers and takers, respectively. This requires a monthly trading volume of $4 billion.
However, unlike Kraken, Binance also offers commission discounts when holding BNB, the exchange’s native coin. For example, the entry-level commission is reduced from 0.1% to 0.075%.
Futures Trading Commissions
Kraken and Binance have different commission structures when trading futures. That said, the maker/taker system is still utilized, and commissions are reduced when meeting trading milestones.
The maximum futures commission on Kraken is 0.05% for takers and 0.02% for makers. These commissions are like-for-like with Binance. However, Binance traders will also get a discount when holding BNB.
| Max Spot Commission | Max Futures Commission | Instant Fee to Buy Bitcoin With Fiat | |
| Kraken | 0.40% | 0.05% | Built into the exchange rate, displayed on the order screen |
| Binance | 0.10% | 0.05% | Depends on the currency and payment method |
Non-Trading Fees
Non-trading fees should also be considered when making a Kraken vs Binance comparison. These fees vary widely depending on the deposit type and currency.
For example, SEPA and PayPal deposits at Kraken are free. SWIFT deposits are charged $4. However, buying crypto with a debit/credit card on Kraken comes with less certainty. This is because fees are built into the exchange rate, which is only displayed when setting up the order. Both exchanges will charge withdrawal fees, but the rate can vary depending on the method.
At Binance, Visa payments made in euros are charged 2%. SEPA payments can cost up to 1%. Some countries benefit from free bank transfers. There are also fee-free P2P deposits at Binance. However, exchange rates are set by sellers. Ultimately, users must check the specific fees for their local currency and payment type, as there are simply too many variables.
| Fiat Deposits | Fiat Withdrawals | Crypto Deposits | Crypto Withdrawals | |
| Kraken | Depends on the currency and payment method | Depends on the currency and payment method | Free, users cover the network fee | Varies depending on the crypto |
| Binance | Depends on the currency and payment method | Depends on the currency and payment method | Free, users cover the network fee | Varies depending on the crypto |
Kraken vs Binance: Trading Tools & Features
- Kraken: 7/10
- Binance: 9/10
Kraken and Binance both offer various features and tools. Let’s take a closer look at their main offerings.
Trading Platform
Kraken offers two trading platforms. The standard platform is aimed at beginners who want to buy, sell, and trade cryptocurrencies without using order books. It’s simple, clean, and easy for newbies to navigate. Kraken Pro is the platform’s advanced platform.
This offers everything traders need to analyze and trade cryptocurrencies, including charts, custom orders, and technical indicators. Kraken Pro is also where traders speculate on perpetual futures.
Similarly, Binance offers two trading platforms, one for beginners and another with advanced trading features. The latter includes customizable charts, indicators, drawing tools, order books, and more.
Instant Buy
The instant buy feature is popular with beginners who simply want to purchase cryptocurrencies with a debit/credit card. This is a premium feature, meaning fees are considerably higher than other purchase methods.
However, as mentioned, Kraken fees are only displayed on the order screen. And at Binance, fees vary depending on the currency. Either way, the cryptocurrencies are immediately credited to the user’s exchange account.
Derivative Products
Kraken provides two types of derivative products. First, it offers margin trading accounts, allowing you to buy cryptocurrencies with more than they have in your Kraken balance. The minimum margin requirement is 20%, which translates to 5x leverage. This means Kraken users can buy $1,000 worth of crypto with just $200.
Kraken also offers perpetual futures. Some of the best meme coins are supported, such as Pepe, Shiba Inu, and dogwifhat. The maximum leverage amount is 50x. This amplifies a $1,000 position to $50,000.
Binance also offers an extensive range of futures. This includes perpetual and delivery contracts. The maximum leverage amount is 125x, which is significantly higher than Kraken. And, unlike Kraken, Binance also supports crypto options.
Automated Tools
Kraken doesn’t directly offer automated tools. However, it does welcome third-party tools via APIs. This includes automated bots created on platforms like WunderTrading and Coinrule.
Binance wins hands down in the automated trading department. It directly lists thousands of automated bots that are suitable for spot and futures trading. This includes multiple strategies, such as algorithmic trading and scalping. Binance also offers a fully-fledged copy trading tool. This enables you to copy successful Binance traders at your preferred amount.
Earning Tools
Kraken supports staking tools, with 24 coins on offer. This includes stablecoins like USDT and USDC, which currently offer APRs of 5.5%. The highest APR available is DOT, which currently pays 15%.
Binance offers a much wider range of earning tools. It supports some of the best cryptocurrencies to stake, including ETH, SOL, and BNB. APRs depend on whether users opt for a flexible or fixed term. Binance also offers dual investments, a high-risk earning product with huge APR targets.
Demo Accounts
Kraken and Binance both offer demo accounts, but only for their futures trading platforms. Both accounts mimic live trading conditions, such as price movements and order book depth. Users can replenish their demo balance at any time.
| Kraken | Binance | |
| Trading Platforms | A standard and advanced platform, with the latter covering charting and analysis tools | A standard and advanced platform, with the latter covering charting and analysis tools |
| Instant Buy | Yes | Yes |
| Derivatives | Margin accounts and perpetual futures. Max leverage is 50x | Perpetual and delivery futures, and options. Max leverage is 125x. |
| Automated Tools | No, but supports automated bots via APIs | Yes, offers thousands of bots and copy trading tools |
| Earning Tools | Yes, staking | Yes, staking, savings accounts, and dual investments |
| Demo Account | Yes, futures only | Yes, futures only |
Binance vs Kraken: Regulation & Security
- Kraken: 9/10
- Binance: 6/10
Kraken is a heavily regulated exchange that has been operational since 2013. It has never witnessed a hack, at least that the public knows of. Kraken is licensed in multiple jurisdictions, including the US, UK, Canada, and the European Union. 95% of client-owned cryptocurrencies are kept in cold storage wallets.
These are air-gapped wallets monitored 24/7 by armed guards and alarm systems. Kraken also offers proof of reserves, with frequent audits for increased transparency. Ultimately, Kraken is considered one of the safest exchanges in the markets.
Is Binance safe? Binance’s regulatory status has been questionable since its inception in 2017. It does, however, have approval in multiple countries, including a dedicated platform for US clients. However, Binance has had multiple regulatory and security scandals in recent years.
For a start, Binance was fined $4 billion by the U.S. Department of Justice. This was due to money laundering failures, with Binance’s founder, Changpeng Zhao, receiving a four-month sentence. In addition, Binance no longer accepts GBP deposits, owing to multiple regulatory warnings from the UK’s Financial Conduct Authority.
Another issue is Binance’s hacking incident in 2022. This resulted in over $570 million worth of cryptocurrencies being stolen. Crucially, however, no losses were encountered by Binance users. Binance has created a Safe Asset Fund for Users (SAFU) to cover future hacks, which is funded by operating revenues.
Binance vs Kraken: User Experience
- Kraken: 8.5/10
- Binance: 8/10
The Kraken cryptocurrency exchange offers a beginner-friendly experience, especially when purchasing crypto via the instant buy feature. Users simply need to choose which crypto to buy, type in the amount, and enter their payment details. The coins or tokens are instantly added to the user’s balance, allowing them to make a withdrawal to a private wallet.
Kraken’s advanced platform is also notable, providing experienced traders with the required advanced trading options to analyze cryptocurrencies in real time. Kraken accounts are simple to open, but KYC verification can witness delays during busy periods.
What’s more, Kraken’s customer support department could be improved.Long wait times are often reported by users, especially when using the live chat feature.
The user experience at Binance is also suitable for beginners and experienced pros alike. Similar to Kraken, first-time investors can use Binance’s instant buy tool. No trading knowledge is needed; just choose the digital asset and complete the payment. However, some other features can be a little overwhelming for those new to crypto.
We also found Binance’s KYC procedure less cumbersome than Kraken’s. Documents are often verified in real-time, ensuring delays are avoided. Binance’s website is cleanly laid out, with menu bars including ‘Buy Crypto’, ‘Markets’, ‘Futures’, and ‘Earn’. Users can seamlessly choose their preferred Binance within these categories.
Binance vs Kraken: Mobile Apps
- Kraken: 7/10
- Binance: 9/10
Our Kraken vs Binance comparison found that both exchanges offer a native mobile app.
Starting with Kraken, it has developed three separate apps, covering the standard Kraken exchange, Kraken Pro, and Kraken Wallet. The latter is a non-custodial wallet that provides users with their private keys. This means the cryptocurrencies are kept separately from the main exchange.
Nevertheless, it’s somewhat cumbersome to switch between Kraken and Kraken Pro, considering each has a native app. For instance, those wishing to buy crypto with a debit/credit card must open Kraken, but then switch to Kraken Pro to begin trading perpetual futures. In our view, these features should be rolled into the same app for a better user experience.
Binance offers just one mobile app for iOS and Android. These cover the entire Binance ecosystem, such as spot trading, futures, earning products, and crypto swaps. It also enables users to deposit and withdraw funds. Therefore, those who frequently trade on a mobile might prefer Binance.
Kraken vs Binance: Payment Methods
- Kraken: 8/10
- Binance: 8/10
Payments are another important metric when making a Binance vs Kraken comparison. Both exchanges support fiat currencies and crypto assets, covering deposits and withdrawals.
We mentioned earlier that fees depend on the currency and payment method. This is also the case with minimums and limits. What’s more, using a debit/credit card on Kraken only displays fees when creating the order. This is built into the exchange rate, so users must manually calculate what they’re paying.
The better option is to deposit funds via local banking methods. For example, ACH and SEPA payments are free on Kraken. At Binance, the average debit/credit card fee is 2%, but this varies depending on the country of residence. Similar to Kraken, the better option is to deposit funds via local bank transfer, which is usually free.
Another option at Binance is to use the P2P dashboard. This supports hundreds of local payment methods and currencies, making it easier to enter the crypto markets with fiat. Binance doesn’t charge P2P fees, but sellers choose the exchange rate. Therefore, assess how this compares to the spot price before proceeding.
| Payment Methods | Minimum Deposit | Fees | Processing Times | |
| Kraken | ACH, SEPA, bank wires, debit/credit cards, Google/Apple Pay | Depends on the payment type | Depends on the payment type (bank transfers are usually free) | Most methods (including local bank transfers) are instant |
| Binance | ACH, SEPA, debit/credit cards, P2P | Depends on the payment type | Depends on the payment type (bank transfers are usually free, debit/credit cards average 2%) | Most methods (including local bank transfers) are instant |
Kraken vs Binance: Customer Service
- Kraken: 7/10
- Binance: 9/10
Kraken and Binance both offer 24/7 customer support via live chat. We found that response times are considerably faster on Binance, with agents often connected in seconds.
In contrast, Kraken’s response times can take several hours during busy periods. We also found that Binance’s help documents are considerably clearer. Kraken often requires users to click through multiple pages when finding answers to common questions, especially regarding fees.
Avoid Customer Support Scams
It’s crucial to only speak with Kraken or Binance via their official websites. An increasingly common scam is ‘fake’ support channels, especially on social media. The scammers will attempt to obtain sensitive account information, such as login details.
Kraken vs Binance: Final Thoughts
We’ve explored everything traders need to know when making a Kraken vs Binance comparison. Binance may be the better option for active traders seeking low fees and a wider range of markets. It also offers a greater selection of tools, including automated bots and copy trading, as well as passive income options.
However, those favoring regulation and security might prefer Kraken, especially when investing larger amounts. Beginners might also find Kraken’s trading dashboard more user-friendly. Kraken offers a wide selection of tools, including perpetual futures, automated bots via APU, and demo trading, and has a strong reputation. Ultimately, traders should assess their key requirements to make the right decision.
FAQs
Why is Kraken better than Binance?
Has Kraken ever been hacked?
Can I withdraw from Kraken to Binance?
Is Binance cheaper than Kraken?
Which is safer: Kraken or Binance?
References
- Binance and CEO Plead Guilty to Federal Charges in $4B Resolution (U.S. Department of Justice)
- Consumer warning on Binance Markets Limited and the Binance Group (Financial Conduct Authority)
- Binance Blockchain Hit by $570 Million Hack, Exposing Crypto Vulnerabilities (The NY Times)
2M+
250+
8
70
in numbers
About Cryptonews
Our goal is to offer a comprehensive and objective perspective on the cryptocurrency market, enabling our readers to make informed decisions in this ever-changing landscape.
Our editorial team of more than 70 crypto professionals works to maintain the highest standards of journalism and ethics. We follow strict editorial guidelines to ensure the integrity and credibility of our content.
Whether you’re looking for breaking news, expert opinions, or market insights, Cryptonews has been your go-to destination for everything cryptocurrency since 2017.
