Binance vs Kraken Comparison (2025): Fees, Features, and More

Binance and Kraken are among the most popular crypto exchanges, known for their high liquidity, basic and advanced trading features, and multiple selections of cryptocurrencies. While Binance is the largest crypto exchange by trading volume, Kraken is well-established and often preferred for its strong security and regulatory compliance.

Both exchanges offer competitive trading fees, with Binance offering a lower fee of 0.1% compared to Kraken’s 0.26%. Binance also offers more products and supports more cryptocurrencies than Kraken. However, Kraken balances ease of use with strong security and standard tools for advanced and new traders.

But there’s more to these two crypto exchanges. So, this Binance vs Kraken review will include a comparison overview between Binance vs Kraken, what are their types of transactions and fees? Binance vs Kraken: What are their best features?

Additionally, we will do a detailed comparison of Binance vs Kraken: What are their security & regulation levels? How many cryptocurrencies are supported on each platform? And Binance vs Kraken: Which one is suitable for you? Let’s dive in!

Binance vs Kraken: Comparison Overview

Exchange	Binance	Kraken
Headquarters	Undisclosed	San Francisco
Year Established	2017	2011
Supported Cryptocurrencies	400	240
Trading Fees	0.1% for maker and taker fees.	0.16% for maker fees 0.26% for taker fee
Security Measures	Secure Asset Fund for Users (SAFU), Two-Factor Authentication (2FA), withdrawal address whitelisting, and proof-of-reserves.	2FA, cold storage for funds, regular security audits, and proof-of-reserves.
KYC Requirements	Mandatory	Mandatory
P2P Trading	Yes	No
Deposit Method	Cryptocurrency deposits, bank transfers, and credit/debit card payments.	Cryptocurrency and bank transfers are available, but there is limited support for credit and debit cards.
Customer Support	Offers customer support through live chat and email	Live chat and email, with a reputation for better customer service in some cases.
Futures and Margin Trading	Yes	Yes
Location Restrictions	Binance is available in 100+ countries. The global platform is not available in the US, but traders in this location can use Binance.US instead.	Kraken is available in 190+ countries, including the United States.
User Base	Over 200 million registered users.	10 million registered users.

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What are Key Differences Between Binance and Kraken?

The key differences between Binance and Kraken are ease of use, fees, security, and their supported cryptocurrencies.

1. Trading Fees: When it comes to fees, Binance offers lower fees compared to Kraken, starting at 0.1%, while Kraken has higher costs, especially for instant buys. Kraken charges up to 0.26% per trade, but your exact transaction fee depends on how much crypto you are trading.
2. User Friendly interface: Kraken is more beginner-friendly than Binance because it has a simple interface. Binance has an extensive list of products and services, which might be overwhelming and challenging for new traders to decide on what features are perfect for your cryptocurrency trading goals.
3. Security: Kraken has a competitive edge over Binance in terms of security. The exchange was only hacked once in June 2024, but it was able to fix the breach and prevent loss of funds in under 47 minutes. On the other hand, Binance has had some major security breaches in the past.

Two major instances of Binance security breaches are the October 2022 BNB Chain hack and the May 2019 exchange hack, where $570 million and $40M were stolen, respectively. It is worth noting that both incidents were addressed, and user funds were secured. 

Setting the previous security incidents aside, Binance and Kraken have various robust security measures to ensure the safety of user funds and data. Examples of the features these exchanges encourage users to activate are Two-Factor Authentication (2FA), withdrawal address whitelisting, and anti-phishing codes.

Binance vs Kraken: What are Their Types of Transactions and Fees?

When comparing Kraken and Binance, it is important to look at the different types of transactions they offer and how their fees stack up. Here is a detailed breakdown of the transaction types, fees, withdrawal costs, and deposit requirements for Binance and Kraken.

Transaction Types

Binance offers multiple trading options to traders, and that makes it a popular choice for both beginners and advanced traders. The transaction types of Binance are listed below:

• Spot Trading: Spot trading allows you to buy and sell cryptocurrencies at the current market price or a set price.
• Margin Trading: You can borrow funds up to 10x leverage to trade on Binance.
• Futures Trading: Speculate on the future price of cryptocurrencies.
• Options Trading: Buy and sell special contracts (stocks, gold, etc).
• Staking: You can earn rewards on Binance by keeping your cryptocurrencies locked up in a wallet.
• Savings and Lending: Earn interest by holding crypto or lending it to others.
• P2P Trading: Buy and sell crypto directly with other users.

On the other hand, Kraken offers fewer transaction types but still covers the essentials:

• Spot Trading
• Margin Trading: Kraken allows you to trade up to 5x leverage (up to 5x).
• Futures Trading: Trade contracts based on future prices.
• Staking: Earn rewards by keeping your cryptocurrencies locked up in a wallet.

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Binance vs Kraken: Withdrawal Fees

Withdrawal fees on both platforms vary depending on the specific cryptocurrency you withdraw.

Binance withdrawal fees are:

• SEPA Bank Transfer (EUR): 1 EUR
• Bank Transfer: Varies by currency (e.g., 120 AED, 3.5 BRL, 150 JPY)
• P2P Express: Free
• Bank Transfer: Varies by region

Kraken withdrawal fees are:

• ACH: Free
• Wire Transfer: $25
• SEPA: Free
• SWIFT: $25
• BTC: Network fees vary

Note: Withdrawal fees are subject to change based on network conditions. So, verify the current fees on Binance and Kraken before initiating a withdrawal.

What are Minimum Deposit and Withdrawal of Binance vs. Kraken?

There is no minimum deposit on Binance except for Terra Classic and TerraUSD. A 0.5% tax burn fee is automatically applied to your transaction.

Binance Minimum Withdrawal

Each coin has a set minimum withdrawal amount for crypto withdrawals, depending on the Blockchain network. The minimum amounts of USDT that you can withdraw from Binance, depending on the network, are listed below:

• BSC: 6 USDT
• Ethereum: 50 USDT
• Solana: 2 USDT
• TRON: 10 USDT
• Polygon: 5 USDT
• Optimism: 10 USDT
• NEAR: 10 USDT
• BNB: 10 USDT
• Arbitrum: 10 USDT
• AVAXC: 50 USDT
• EOS: 10 USDT
• STATEMINT: 10 USDT
• Tezos: 10 USDT

Always check out minimum crypto withdrawal amounts yourself by visiting the crypto withdrawal page on Binance or confirming the minimum withdrawal amount when you initiate a transaction.

Here are the minimum withdrawal amounts for fiat currency withdrawals on Binance:

• EUR: You can withdraw between €1 and €10,000, with fees ranging from free to 0.12%.
• IDR: Withdrawals start at Rp250,000 and go up to Rp25,000,000, with fees from Rp10,000 to 1.80%.
• UAH: The Minimum withdrawal is ₴550, with a maximum of ₴200,000, and fees are 5.50% and sometimes free.

There is also no minimum deposit requirement on Kraken. 

Kraken Minimum Withdrawal

Minimum withdrawals on Kraken vary by crypto, e.g., 0.0005 BTC for Bitcoin. However, withdrawal fees in Kraken can go up to $60, depending on the cryptocurrency and withdrawal method. Below are different withdrawal method and their fees

• USD: Minimum withdrawal from $1 to $150; fees range from free to $35
• EUR: Minimum withdrawal from €1 to €150; fees range from free to €35
• GBP: Minimum withdrawal from £1 to £150; fees range from free to £35
• CAD: Minimum withdrawal from $15 to $1,000; fees range from free to 35% of the amount
• CHF: Minimum withdrawal from £2 to £150; fees range from £1 to £35
• AUD: Minimum withdrawal from $5 to $150; fees range from free to $55
• JPY: Minimum withdrawal of ¥15,000; a fixed withdrawal fee of $35 in JPY equivalent

Binance vs Kraken: Trading Fees

Binance trading fees are calculated based on a tiered fee system that considers the trader’s 30-day trading volume. Regular users with less than $15 million in trading volume will pay a standard spot trading fee of 0.10% for both makers and takers. Here is a breakdown of Binance trading fees:

• Non VIP Traders: 0.10% / 0.10% (maker/taker)
• With BNB Discount: 0.0750% / 0.0750%
• VIP crypto traders get lower fees (down to 0.0110% / 0.0230%)
• Fees decrease even further with higher 30-day trading volume and BNB holdings.

For futures trading on Binance, the fees start at 0.02% for makers and 0.04% for takers. The crypto exchange platform also offers a 25% discount on fees for high-volume crypto traders and users who pay with Binance’s native token, BNB.

Kraken also uses a maker-taker model, with trading fees ranging from 0% to 0.26%. Kraken’s fees also decrease for users with higher trading volumes over 30 days.

Binance vs Kraken: Deposit Fees

When it comes to crypto deposits, both Binance and Kraken offer free deposits, but fees apply for fiat currency deposits depending on the payment method. For instance, Binance deposits can cost up to 4.5%.

Meanwhile, Wire transfer fees on Kraken cost up to $35, depending on the payment method you use. Here is a rundown of Kraken deposit fees for various methods:

• SWIFT (Bank Frick): $3 for USD, €3 for EUR, $3 for CAD, £3 for GBP, and CHF 0.75.
• Interac e-Transfer (CAD): 0.5% fee.
• Canada Post (Cash/Debit, CAD): $1.25 + 0.25%.
• Gibraltar CHAPS (ClearJunction, GBP): £21 fee.
• RTGS (AUD): $33 fee.

Binance vs Kraken: What are Their Best Features?

The best features of Binance are its low fees, high liquidity, Binance web3 wallet, P2P trading, NFT marketplace, Binance app, Binance Launchpad and Launchpool, and standard TradingView containing detailed information of each pair you wish to trade. In addition, the Binance crypto trading platform also offers multiple ways for crypto traders to earn passive income while trading.

On the flip side, Kraken has strong security measures and supports fiat deposits and withdrawals. It also offers advanced trading tools, including futures trading and margin trading for advanced traders and a simple interface with basic features for users who have no trading experience.

Binance vs Kraken: What are Their Security & Regulation Levels?

Binance and Kraken are secure crypto exchanges, but they take different approaches to security and regulation. Binance customers can activate Two-Factor Authentication and use the following security features to protect their accounts:

•  Anti-Phishing Codes: Binance encourages users to activate anti-phishing codes, which help them recognize official emails from the crypto exchange platform. Upon setup, every email from Binance will carry that code, and if you receive an email that doesn’t have the code, it is likely a phishing attempt.
• Secure Asset Fund for Users (SAFU): The exchange has a reserve fund to compensate users in case of security breaches. Binance allocates 10% of its trading fees to the SAFU fund, and as of April 2024, the SAFU fund was worth one billion USDC, so if a hack occurs, Binance will reimburse affected users.
• Withdrawal Address Whitelist: You can add multiple wallet addresses to the whitelist and withdraw funds to only pre-approved wallet addresses. This security feature prevents hackers from transferring funds to any wallet address not listed, even if they gain access to your account.
• Regulatory Compliance: Binance has faced and still faces compliance issues in some countries. However, they have made significant efforts to enhance its compliance levels in various countries.

Kraken’s security features are listed below:

Like Binance, Kraken also encourages users to set up 2FA to ensure asset protection. In addition to Two-Factor Authentication, here are other security features of Kraken.

• Global Settings Lock (GSL): Kraken uses this feature to add a waiting period for making critical account changes. This gives users time to react to unauthorized attempts to modify their account settings.
• Cold Storage: Kraken stores 95% of user assets offline, in cold storage with 24/7 armed guard surveillance.
• Regulatory Compliance: Kraken is registered with major financial authorities like FinCEN (US) and FCA (UK). The exchange follows strict compliance rules and regularly conducts proof-of-reserves audits.

Binance vs Kraken: How Many Cryptocurrencies Are Supported on Each Platform?

Binance supports over 400 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), BNB, Dogecoin (DOGE), Shiba Inu (SHIB), Cardano (ADA), and Toncoin (TON). The exchange regularly lists new and promising tokens, some of which crypto traders can invest in early through Binance launchpool before they are traded publicly.

Meanwhile, Kraken supports about 240 cryptocurrencies, including BTC, SOL, ETH, USDC, SOL, MATIC, DOGE, SHIB, XRP, ADA, DOT, AVAX, LINK, and MANA.

Binance vs Kraken: Which One Is Suitable for You?

Both Binance and Kraken are solid crypto exchange platforms, but they have different trading tools, fees, and security measures. So, choose Binance if:

• You want lower transaction fees.
• You are an active trader who needs an exchange with extensive crypto support.
• You are a professional trader who wants advanced charting tools and many trading options.
• Tons of crypto trading services and products.

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Choose Kraken if:

• Security and regulation matter most to you.
• You are a beginner and want something simple.
• You prefer reliable customer support.
• You are a US-based trader who needs a reliable and user-friendly exchange.

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At the end of the day, both Binance and Kraken offer tools tailored to both new and experienced traders, and they get the job done. If you are worried about the learning curve or want to learn more about Binance and Kraken, read this Binance review or Kraken review to learn more about their features and how to get started.

What are Pros and Cons of Binance?

The pros of Binance are listed below:

• Wide Range of Cryptocurrencies: Binance supports over 400 cryptocurrencies and over 1000 trading pairs pegged to stablecoins, fiat, and other cryptocurrencies. 
• Low Trading Fees: The exchange offers competitive trading fees compared to Kraken and other exchanges. Find out how to get additional trading fee discounts on Binance in this Binance referral code article.
• Advanced Trading Features: Binance crypto exchange offers advanced trading features such as futures, margin trading, and staking.
• Binance Earn: It allows users to earn passive income through staking and savings.
• User-Friendly Interface: It is suitable for both beginners and experienced traders.

The cons of Binance are listed below:

• Might be Complex for Beginners: Binance offers multiple features, trading options, products, and services, which are great for more experienced traders. However, this extensive range of products and services may overwhelm beginners.
• Limited Fiat Support: Some regions have restrictions on fiat deposits and withdrawals.
• Customer Support Complaints: Binance’s customer support could be better. Users who need immediate help with issues that self-help services cannot solve usually wait long before getting a response from the team.

What are Pros and Cons of Kraken?

The pros of Kraken are listed below:

• Strong Security Measures: Kraken stores funds in secure cold storage with 24/7 armed guard surveillance. They also provide additional security features like advanced encryption, customizable API permissions, global settings time lock, no phone/SMS recovery to prevent SIM swap attacks, and proof of reserves auditing.
• Low Trading Fees: Fees are competitive, especially in high volumes. Besides the discounts for high trading volume, you can get additional discounts using this Kraken referral code.
• Wide Range of Crypto Selection: Kraken supports over 200 cryptocurrencies and 895 trading pairs.
• Advanced Trading Options: The platform offers futures and margin trading with up to 5x leverage.
• Fiat Deposits and Withdrawals: It supports multiple fiat currencies, making cash in and out easier.

 The cons of Kraken are listed below:

• Withdrawal Fees: Some crypto withdrawals can be more expensive than other exchanges.
• The KYC Verification Process Takes Time: Getting verified, especially during peak periods, can be slow.

This article first appeared at CryptoNinjas