Introduction: If you are wondering whether Kraken would beat Crypto.com in a heads up battle, you have come to the right place. In this breakdown we compare these two exchanges across a range of variables such as fees, deposit methods and much more. Once you have finished reading this comparison, you will have a better idea of the pros and cons of Kraken and Crypto.com.
Kraken and Crypto.com are two of the largest and most well-known cryptocurrency exchanges in the world. Kraken, founded in 2011 in San Francisco, boasts 2000 employees and is available in 190 countries with 9 million users. Its app has been downloaded 1 million times.
Crypto.com, on the other hand, was founded in 2016 in Singapore and has 4000 employees. It's available in 180 countries and has 50 million users, with 10 million downloads of its app.
If you're looking to sign up for a cryptocurrency exchange, you might be wondering about the verification process. When it comes to Kraken and Crypto.com, both exchanges require KYC verification to ensure the security of their platform.
The good news is that signing up for Kraken takes less than a minute, and basic verification can be completed in less than 2 minutes. On the other hand, Crypto.com's sign-up process generally takes less than ten minutes, but users will need to provide their full legal name and a picture of a government-issued ID for KYC verification.
Kraken and Crypto.com are two of the most popular and widely used cryptocurrency exchanges on the market. Kraken is a more traditional exchange, offering a range of trading options such as spot, futures, options and margin trading. Crypto.com being a more of an all-in-one platform, offer the same trading services as Kraken but also offers features such as copy trading, trading bots, and lending and borrowing.
Kraken's maximum leverage of 50x is higher than Crypto.com's 20x, but Crypto.com offers a higher margin leverage of 10x compared to Kraken's 5x. These factors make Kraken the better choice for experienced traders looking for higher leverage, while Crypto.com is ideal for those looking for a more diverse range of features.
For spot trading, Kraken offers a maker fee of 0.16% and a taker fee of 0.26%, while Crypto.com charges 0.075% for makers and 0.075% for takers. In terms of futures trading, Kraken's maker fee is 0.02% and taker fee is 0.05%, while Crypto.com's maker fee is 0.017% and taker fee is 0.034%.
Thus, it is evident that Crypto.com offers lower trading fees for both spot and futures trading when compared to Kraken. This makes Crypto.com a better option for traders who want to save on trading fees.
Kraken and Crypto.com offer different deposit methods for users. Kraken supports 7 fiat currencies, including USD, EUR, CAD, AUD, GBP, CHF, and JPY, with deposit methods like Fedwire, SWIFT, ACH, SEPA, and FPS. Users can make free ACH deposits for USD, EUR and CAD.
On the other hand, Crypto.com only supports USD deposits via wire transfer and has a $0 deposit fee for wire transfers and USD bank transfers. In this category, Kraken offers a much better user experience with a wider range of fiat currencies and deposit methods available to its users.
Kraken has once again a bit advantage when it comes to fiat withdrawals compared to Crypto.com. Kraken offers withdrawals in all 7 fiat currencies they support with multiple withdrawal methods such as ACH, SEPA, SWIFT, and FPS. The withdrawal fee ranges from free to 0.9 EUR (SEPA), $4 (SWIFT), and 1.95 GBP (FPS) depending on the method. Crypto.com only supports USD withdrawals via bank transfer, but with one upside, it's free of charge.
Available in 190 countries
+190 cryptocurrencies to buy
Licensed and regulated
World class security
+250 cryptocurrencies.
0.075% trading fees.
High security standards.
Crypto.com debit card.
