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Updated September 29, 2026 · HodlCue Editorial Team

Kraken vs Nexo

Kraken scores 9.4 and Nexo 9.0 out of 10. Compare their differences and shared features below.
Kraken

Kraken

Higher score in this comparison

9.4/10
Visit
Nexo

Nexo

9.0/10
Visit

Kraken vs Nexo: the differences

Kraken vs Nexo
CompareKrakenKrakenReviewVisitVisitNexoNexoReviewVisitVisit
Currency conversion fee0%Lower0.2% to 2.5%
Free ATM withdrawals€0€200 to €2,000Higher
Cashback rate0.5% to 2%0.1% to 2%
Currencies600Higher100
CustodySelf custodyCustodial

Same on both: Monthly fee (€0), Card type (Debit), 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 9.0.
  • Nexo is licensed in 5 more countries.
  • Currency conversion fee is lower at Kraken: 0% vs 0.2% to 2.5%.
  • Free ATM withdrawals is higher at Nexo: €200 to €2,000 vs €0.
  • Currencies is higher at Kraken: 600 vs 100.
  • Features: only Nexo offers Custodial.

Our verdict on each

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

Nexo

Nexo suits spenders who want crypto linked payments without a card subscription, plus earn options tied to platform balances. Monthly fee is €0 with currency conversion fees of 0.2% to 2.5% and ATM allowance of €200 to €2,000 across supported balances on Mastercard rails.

Read the full Nexo review

Score breakdown

Kraken vs Nexo
AreaKrakenNexo
Cost9.3HigherMonthly charge of €0 with conversion fees of 0% keeps routine card costs contained.9.1Monthly fee is €0 alongside conversion fees that run 0.2% to 2.5% for card spending.
Offer9.0Card access to 728 with staking on ATOM, SCRT and KSM widens use beyond payments.9.4HigherCard type is debit with earn yield of 15% under custodial holding.
Trust9.7HigherSupervision linked to Central Bank of Ireland, Financial Conduct Authority and Financial Crimes Enforcement Network supports confidence in handling.8.7Holding is custodial with registration such as DCE100843695-001 in Australia.

The bill, worked out

A year with 1,000 spent abroad

Kraken

€0

12 × €0 + 0% of 1,000

Nexo

€2 to €25

12 × €0 + 0.2% to 2.5% of 1,000

Kraken costs €2 less.

Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 28, 2026.

Positions in our rankings

Kraken vs Nexo
RankingKrakenNexo
Crypto debit cards9 of 1452 of 145

Where these facts come from

Kraken

  • support.kraken.com: 6 facts, checked September 28, 2026
  • kraken.com: 2 facts, checked September 28, 2026
  • krak.app: 1 fact, checked September 29, 2026

Nexo

  • nexo.com: 10 facts, checked September 26, 2026

Every fact side by side

Kraken vs Nexo
FactKrakenNexo
FeaturesMulti currency, Crypto, Virtual card, TravelMulti currency, Crypto, Virtual card, Custodial, TravelCovers more
AudienceNot confirmedBusiness

Crypto exchanges

Kraken vs Nexo
FactKrakenNexo
Taker fee0.05% to 0.8%Not confirmed
Coins listed728Not confirmed
RegulatorsCentral Bank of Ireland, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI)Not confirmed
Fiat deposit methodsCard, Bank, SEPA, ACH, Apple payNot confirmed
Maker fee0% to 0.4%Not confirmed
Proof of reservesYesNot confirmed
DerivativesYesNot confirmed
Exchange typeCexNot confirmed

Crypto wallets

Kraken vs Nexo
FactKrakenNexo
Wallet typeMobileNot confirmed
Price$0Not confirmed
Coins supported728Not confirmed
Backup optionsSeedNot confirmed

Crypto earn

Kraken vs Nexo
FactKrakenNexo
YieldNot confirmed15%
Supported assetsNot confirmedBTC, ETH, NEXO, USDT, USDC, DOT, XRP, SOL, EURC
Lock-up termsNot confirmedFlexible with no lock-ups; fixed terms up to 12 months

Where each stands against the rest

Kraken vs Nexo
FactKrakenNexoMedian
Monthly fee€0at the median€0at the median€0
Currency conversion fee0%below the median0.2% to 2.5%below the median0.25%
Free ATM withdrawals€0below the median€200 to €2,000above the median€200
Cashback rate0.5% to 2%at the median0.1% to 2%at the median2
Currencies600highest quarter100above the median30

Median across 58 listed providers.

Pros and cons

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

Nexo

Pros

  • Monthly fee is €0, keeping routine card upkeep free for regular spenders.
  • ATM allowance spans €200 to €2,000, supporting cash access alongside card payments.
  • Earn yield reaches 15% with lockup described as Flexible with no lock-ups; fixed terms up to 12 months, linking spending and rewards.

Cons

  • Currency conversion fees run 0.2% to 2.5%, which exceeds Kraken at 0% and eToro at 0%.
  • Balances remain in custodial custody, so private keys stay with the provider rather than with users.
  • Support runs on chat, email and help centre only, which limits contact routes for users who prefer voice help.

Who each suits

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

Nexo

Who it suits

  • Spenders who want debit payments from crypto balances with monthly fee of €0.
  • Travellers and cross border shoppers who accept conversion fees of 0.2% to 2.5% on Mastercard rails.
  • Savers who want earn yield of 15% alongside card use in custodial custody.

Who should look elsewhere

  • Users seeking the lowest conversion charges may prefer Kraken, since Kraken charges 0% against Nexo fees of 0.2% to 2.5%.
  • Users wanting direct control of keys may prefer self custody wallets over Nexo, since Nexo custody is custodial.

Country by country

Kraken vs Nexo
CountryKrakenNexo
ArgentinaNoYes
AustraliaNoYes
AustriaNoYes
BelgiumNoYes
BulgariaNoYes
CroatiaNoYes
CyprusNoYes
CzechiaNoYes

8 of 36 countries where either is available.

Questions about each

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.

Nexo

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

Monthly fee is €0, so routine card upkeep carries no subscription charge. Currency conversion fees run 0.2% to 2.5%, which apply when spending across currencies. ATM allowance spans €200 to €2,000, which shapes cash access for frequent withdrawals.

How does the Nexo card work for payments?+

Nexo provides a debit card on the Mastercard network, referenced as Mastercard. Payments draw from crypto and fiat balances held on the platform. The structure suits users who prefer debit spending over borrowed credit.

Other options to compare

Kraken

Visit

Nexo

Visit