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Updated October 17, 2026 · HodlCue Editorial Team

Binance vs Kraken

Binance scores 8.5 and Kraken 9.4 out of 10. Compare their differences and shared features below.
Binance

Binance

8.5/10
Visit
Kraken

Kraken

Higher score in this comparison

9.4/10
Visit

Where Binance and Kraken differ

Binance vs Kraken
CompareBinanceBinanceReviewVisitVisitKrakenKrakenReviewVisitVisit
Currency conversion fee2%0%Lower
Card typePrepaidDebit
Cashback rate1.5% to 3%Higher0.5% to 2%
CustodyCustodialSelf custody
Monthly feeNot confirmed€0
Free ATM withdrawalsNot confirmed€0
CurrenciesNot confirmed600

Same on both: Card network (Mastercard).

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Key differences

  • Kraken scores higher overall: 9.4 vs 8.5.
  • Currency conversion fee is lower at Kraken: 0% vs 2%.
  • Cashback rate is higher at Binance: 1.5% to 3% vs 0.5% to 2%.
  • Features: only Binance offers Staking.
  • Features: only Kraken offers Multi currency, Crypto, Virtual card.

Our verdict on each

Binance

Binance operates as a centralized exchange with derivatives activity and published proof of reserves for custody clarity. Traders who prefer centralized custody with derivatives access in one venue may find its combined structure aligns with their approach to managing activity.

Read the full Binance review

Kraken

Kraken suits frequent crypto users who keep trading balances on exchange and want those balances spendable through a card without added card upkeep. It pairs a debit card on Mastercard with a monthly fee of €0 and conversion fees of 0%, which keeps routine spend predictable for cardholders.

Read the full Kraken review

Score breakdown

Binance vs Kraken
AreaBinanceKraken
CostNot confirmed9.3Monthly charge of €0 with conversion fees of 0% keeps routine card costs contained.
OfferNot confirmed9.0Card access to 728 with staking on ATOM, SCRT and KSM widens use beyond payments.
Trust8.59.7HigherSupervision linked to Central Bank of Ireland, Financial Conduct Authority and Financial Crimes Enforcement Network supports confidence in handling.

Positions in our rankings

Binance vs Kraken
RankingBinanceKraken
Crypto exchanges26 of 2979 of 297
Crypto futures exchanges16 of 786 of 78
Crypto debit cards23 of 1459 of 145

Ranges side by side

Binance vs Kraken
FactBinanceKraken
Cashback rate1.5% to 3%0.5% to 2%

Licences and countries

Binance vs Kraken
CountryBinanceKraken
IrelandNot confirmed
Central Bank of Ireland (CBI) MiCA CASP 9845003D98SCC2851458
IE_CBI PSD_EMI IE_CBI!C453020

Every fact side by side

Binance vs Kraken
FactBinanceKraken
FeaturesStakingMulti currency, Crypto, Virtual card, Travel
Legal entityBinance Holdings Ltd.Not confirmed
Founded2017Not confirmed

Crypto exchanges

Binance vs Kraken
FactBinanceKraken
Taker fee0.1%0.05% to 0.8%Lower
Coins listed490728Higher
RegulatorsAutorite des marches financiers (AMF), Commissione Nazionale per le Societa e la Borsa (CONSOB), Banco de Espana, Australian Securities and Investments Commission (ASIC), Thailand Ministry of FinanceCentral Bank of Ireland, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI)
Fiat deposit methodsNot confirmedCard, Bank, SEPA, ACH, Apple pay
Maker fee0.1%0% to 0.4%Lower
Proof of reservesYesYes
DerivativesYesYes
Exchange typeCexCex

Crypto wallets

Binance vs Kraken
FactBinanceKraken
Wallet typeNot confirmedMobile
PriceNot confirmed$0
Coins supportedNot confirmed728
Backup optionsNot confirmedSeed

Where each stands against the rest

Binance vs Kraken
FactBinanceKrakenMedian
Monthly feeNot confirmed€0at the median€0
Currency conversion fee2%highest quarter0%below the median0.25%
Free ATM withdrawalsNot confirmed€0below the median€200
Cashback rate1.5% to 3%above the median0.5% to 2%at the median2
CurrenciesNot confirmed600highest quarter30

Median across 58 listed providers.

Pros and cons

Binance

Pros

  • Centralized exchange venue with derivatives activity under one roof
  • Published proof of reserves gives clarity around held balances

Kraken

Pros

  • Monthly fee of €0 keeps ongoing card costs low for regular spenders
  • Conversion fees of 0% favour cross border card use versus Bit2Me at 0.95%
  • Cashback of 0.5% to 2% adds value on eligible card spending

Cons

  • Free ATM allowance of €0 restricts cash withdrawals for frequent ATM users
  • Support runs on chat and help centre only, which limits choice for people who prefer phone help
  • Cashback of 0.5% to 2% varies by activity, so returns depend on card use

Who each suits

Binance

Who it suits

  • Traders seeking centralized custody and derivatives access
  • Holders who value published proof of reserves

Kraken

Who it suits

  • Exchange holders who want trading balances spendable by card rather than moved off venue
  • Card payers who value low upkeep and who accept eToro instead where ATM needs dominate

Who should look elsewhere

  • Cash heavy users who may prefer eToro for its free ATM range of €2,500 to €12,000 over €0
  • Phone support seekers who may prefer bunq if assisted channels matter more than chat and help centre

Questions about each

Binance

What does Binance cover as an exchange?+

Binance operates as a centralized exchange with derivatives activity under the same structure. Custody and order matching rest with the venue rather than self managed wallets. Published proof of reserves provides an extra custody signal for review.

How do derivatives fit within this service?+

Derivatives activity sits alongside spot style trading within the centralized venue. Positions and balances remain under venue custody throughout the process. Those interested should review structure and custody before deciding on use.

Kraken

What does the Kraken card cost to keep and use?+

The card carries a monthly fee of €0 and conversion fees of 0%. Cashback of 0.5% to 2% applies to eligible spend. Exchange trading uses maker fees of 0% to 0.4% and taker fees of 0.05% to 0.8%, so card costs stay distinct from trading costs.

Who regulates Kraken for this product?+

Kraken lists oversight connected to Central Bank of Ireland, Financial Conduct Authority and Financial Crimes Enforcement Network and holds registrations including MiCA CASP 9845003D98SCC2851458. The legal entity named is Payward Europe Solutions Limited. These permissions relate to crypto and payment services and vary by product and domicile.

Other options to compare

Binance

Visit

Kraken

Visit