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Updated September 29, 2026 · HodlCue Editorial Team

Independent Reserve vs Kraken

Independent Reserve scores 9.3 and Kraken 9.4 out of 10. Compare their differences and shared features below.
Independent Reserve

Independent Reserve

9.3/10
Visit
Kraken

Kraken

Higher score in this comparison

9.4/10
Visit

Independent Reserve vs Kraken: the differences

Independent Reserve vs Kraken
CompareIndependent ReserveIndependent ReserveReviewVisitVisitKrakenKrakenReviewVisitVisit
Taker fee0.02% to 0.5%Lower0.05% to 0.8%
Coins listed25728Higher
RegulatorsAUSTRACCentral Bank of Ireland, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI)
Fiat deposit methodsCard, BankCard, Bank, SEPA, ACH, Apple payCovers more
Maker feeNot confirmed0% to 0.4%
Withdrawal feeAUD EFT free; AUD 1.50 PayID/NPP instant; USD 25 SWIFT; NZD 29; BTC 0.0001Not confirmed

Same on both: Proof of reserves (Yes), Derivatives (Yes), Exchange type (Cex).

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 9.3.
  • Regulators: only Independent Reserve offers AUSTRAC.
  • Regulators: only Kraken offers Central Bank of Ireland, Financial Conduct Authority, Financial Crimes Enforcement Network.
  • Taker fee is lower at Independent Reserve: 0.02% to 0.5% vs 0.05% to 0.8%.
  • Coins listed is higher at Kraken: 728 vs 25.
  • Fiat deposit methods: only Kraken offers SEPA, ACH, Apple pay.
  • Features: only Independent Reserve offers Custodial.
  • Features: only Kraken offers Multi currency, Crypto, Virtual card.

Our verdict on each

Independent Reserve

Independent Reserve suits Australian and New Zealand buyers who want a regulated custodial exchange with plain card and bank deposits. Fees of 0.02% to 0.5% are competitive with the site median of 0.2%, though the coin list is modest for traders who want broader markets.

Read the full Independent Reserve 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

Independent Reserve vs Kraken
AreaIndependent ReserveKraken
Cost9.7Higher9.3Monthly charge of €0 with conversion fees of 0% keeps routine card costs contained.
Offer9.1HigherFees of 0.02% to 0.5% sit around the site median of 0.2%, but the list of 25 coins is small.9.0Card access to 728 with staking on ATOM, SCRT and KSM widens use beyond payments.
Trust9.19.7HigherSupervision linked to Central Bank of Ireland, Financial Conduct Authority and Financial Crimes Enforcement Network supports confidence in handling.

Availability and regulation

Independent Reserve vs Kraken
CountryIndependent ReserveKraken
Australia
AUSTRAC DCE-100461150-001
Not confirmed
IrelandNot confirmed
Central Bank of Ireland (CBI) MiCA CASP 9845003D98SCC2851458
IE_CBI PSD_EMI IE_CBI!C453020

A third option

Bitget (Trading Bots) has coins listed at 847, against 25 for Independent Reserve and 728 for Kraken.

Bitget (Trading Bots) review

How they place

Independent Reserve vs Kraken
RankingIndependent ReserveKraken
Crypto exchanges12 of 2979 of 297
Crypto futures exchanges9 of 786 of 78
Where to buy crypto7 of 1775 of 177

Every fact side by side

Independent Reserve vs Kraken
FactIndependent ReserveKraken
FeaturesCustodialMulti currency, Crypto, Virtual card, Travel
Legal entityIndependent Reserve Pty. Ltd. (ABN 46 164 257 069)Not confirmed
HeadquartersAustraliaNot confirmed
Founded2013Not confirmed
Support channelsEmail, Help centre, CommunityNot confirmed

Crypto wallets

Independent Reserve vs Kraken
FactIndependent ReserveKraken
Wallet typeNot confirmedMobile
PriceNot confirmed$0
CustodyNot confirmedSelf custody
Coins supportedNot confirmed728
Backup optionsNot confirmedSeed

Where each stands against the rest

Independent Reserve vs Kraken
FactIndependent ReserveKrakenMedian
Taker fee0.02% to 0.5%lowest quarter0.05% to 0.8%below the median0.15
Coins listed25lowest quarter728highest quarter76
Maker feeNot confirmed0% to 0.4%below the median0.1

Median across 219 listed providers.

Pros and cons

Independent Reserve

Pros

  • Registered with AUSTRAC in Australia, so the exchange answers to a recognised anti-money laundering regulator.
  • Publishes proof of reserves, which 79.4% of compared exchanges do.
  • Card and bank transfers are both accepted through card and bank.

Cons

  • The list of 25 coins is small next to the site median of 62.
  • Support runs on email, help centre and community only, with no phone or live chat listed.
  • Balances are custodial, so coins sit with the exchange rather than in a wallet the holder controls.

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

Independent Reserve

Who it suits

  • Australian and New Zealand residents paying in by card or bank transfer
  • Buyers of mainstream coins who want proof of reserves and a named regulator
  • Traders who also want access to derivatives

Who should look elsewhere

  • Traders chasing a long tail of altcoins, where the exchange is a broker for Australia and New Zealand rather than a global venue
  • bitpanda, which lists from 650 coins for a much wider choice
  • bunq, whose taker fees of 0.25% to 1.99% suit European bank customers

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

Country by country

Independent Reserve vs Kraken
CountryIndependent ReserveKraken
AustraliaYesNo
New ZealandYesNo
SingaporeYesNo

Questions about each

Independent Reserve

What does Independent Reserve charge in fees?+

Taker fees run 0.02% to 0.5%, which brackets the site median of 0.2% and sits inside the upper quartile of 0.55%. Withdrawals are also charged: AUD transfers are free, while instant AUD and crypto withdrawals carry a fee.

Is Independent Reserve regulated?+

It is registered with AUSTRAC in Australia under DCE-100461150-001, the country's anti-money laundering and counter-terrorism financing regulator. It also publishes proof of reserves, a step 79.4% of the compared exchanges report.

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

Independent Reserve

Visit

Kraken

Visit