Kraken alternatives

Compare the best alternatives to Kraken for Canadian crypto traders.

Andrew Boyd avatar
Written by
Updated 4 Apr 2025   |   Rates updated regularly

Comparing of 6 Kraken alternatives

Coinbase

On website

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Featured

Coinbase

Highlights

  • Both exchanges offer a large number of crypto assets to choose from.
  • Fees to trade and withdraw funds are cheaper on Kraken versus Coinbase.
  • The user experience is high quality on both exchanges, catering for traders at all levels.
  • Both offer excellent customer support, including telephone support.

Pros

  • Get access to a wide variety of altcoins.
  • Start trading with as little as $2.
  • Offers Coinbase card which allows you to spend crypto anywhere.

Cons

  • Fees are higher compared to other exchanges.
Coinsquare

Not available for application via this website

Highlights

  • Coinsquare's QuickTrade feature instantly makes trades between any two currencies, whether it's XRP to Ethereum, or Litecoin to EUR.
  • Enjoy low, transparent fees and no trading minimum.
  • Kraken offers advanced functionality like staking.

Pros

  • Quick verification process.
  • 820+ trading pairs available.
  • Has a referral program.

Cons

  • A limited selection of cryptocurrencies.
Ndax

On website

Highlights

  • To get started, NDAX will require a minimum deposit of $100.
  • Withdrawal fees are higher at NDAX compared to Kraken.
  • NDAX offers a digital asset OTC trading desk built exclusively for investors looking to trade $200,000 or more.
  • NDAX’s customer support representatives are available 24/7 to help you with any questions that you may have. Kraken also has 24 hour support.

Pros

  • Competitive trading fees at 0.2% for both selling and buying cryptocurrencies.
  • Get 24/7 customer support.
  • Earn by referring a friend.

Cons

  • Other exchanges have a larger choice of digital assets to trade.
  • Only available to Canadian residents
Bitbuy

On website

Highlights

  • Kraken offers much more to trade compared to what’s listed on Bitbuy.
  • Bitbuy requires a $100 minimum deposit, which is higher than what you need to start on Kraken.
  • Both exchanges are registered with FINTRAC and available across Canada.

Pros

  • You can earn a signup bonus.
  • Competitive trading fees.
  • Assets are insured and held in cold storage.
  • User-friendly website and mobile app.

Cons

  • Deposit and withdrawal fees apply.
Shakepay

Not available for application via this website

Highlights

  • You can only trade Bitcoin or Ethereum with Shakepay, making it more geared to beginners or those with no interest in altcoins.
  • Deposits and withdrawals are free with Shakepay. Both exchanges charge a fee on trades.
  • New traders and investors will find both Kraken and Shakepay simple and easy to understand.

Pros

  • Free transfers through Interac e-Transfer.
  • Commission-free.
  • Earn rewards.

Cons

  • Supports only Bitcoin and Ethereum.
  • Only available to Canadian residents
Newton

Not available for application via this website

Highlights

  • Newton prices are on average 3x lower than a leading cryptocurrency exchange competitor.
  • Fund and withdraw from your Newton account for free.
  • Newton and Kraken both are extremely well designed. Newton has less advanced functionality though, but they continually add new coins.

Pros

  • Clean user interface.
  • No commission fees.
  • Competitive spreads.
  • Earn $25 on its referral program.

Cons

  • Only accepts CAD deposits.
  • Verification times can be slow.

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