Kraken alternatives
Compare the best alternatives to Kraken for Canadian crypto traders.
By Andrew Boyd | Updated 15 Nov 2023
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Comparing Kraken alternatives
On website
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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
Cons
On 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
Cons
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
Cons
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
Cons
On website
Highlights
- SmartTrade from CoinSmart makes trading from one coin to another easier since you don’t have to trade BTC or ETH first.
- Both platforms have 24/7 customer support. Both are registered with FINTRAC and available throughout Canada.
- Kraken lists more tradable assets than CoinSmart. It also offers more advanced functionality than CoinSmart, e.g. margin trading and staking.
Pros
Cons
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
Cons
Gemini Exchange
Highlights
- Gemini is a highly trusted name in the crypto ecosystem.
- Gemini offers recurring buys, so you can dollar cost average over time.
- All crypto held online in Gemini's exchange wallet is insured and it uses the best-in-industry cold storage coverage with leading insurance providers.
Pros
Cons
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.
