Kraken alternatives

Compare the best alternatives to Kraken for Canadian crypto traders.

By   |   Updated 20th January 2022

Comparing Kraken alternatives

Coinbase

On Coinbase's website

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.
Binance

On Binance's website

Binance

Highlights

  • Binance offers a huge choice of tradable crypto assets, including NFTs via their marketplace.
  • Both exchanges offer more advanced functionality such as staking.
  • Binance is not available in Ontario, whereas FINTRAC-registered Kraken is.
Coinsquare

On Coinsquare's 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.
NDAX

On NDAX's 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.
Bitbuy

On Bitbuy's 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.
Coinberry

On Coinberry's website

Highlights

  • Coinberry offers 0% CAD funding and withdrawal fees giving you the opportunity to retain more.
  • Both platforms use cold storage facilities. Coinberry uses Gemini as its service provider.
  • Assets stored on Kraken are not insured. Coinberry holds a bond to protect against loss under certain listed circumstances.
CoinSmart

On CoinSmart's 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.
Shakepay

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.
Gemini Exchange

On Gemini's website

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.
Newton

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.