Kraken Alternatives - Better Crypto Exchanges than Kraken for 2024

Find out the major disadvantages of Kraken Crypto Exchange and alternatives with lower fees and more security. Unbiased Kraken Alternatives reviews.

So which exchanges are better than Kraken? Want to jump straight to the answer? Binance is the best alternative exchange to Kraken in 2024

Kraken

Overview

Kraken is one of the longest established cryptocurrency exchanges in the industry, since it was initially launched back in 2013. Kraken is the chosen crypto exchange for many users across the globe and the present review aims to help you discern whether it is the most suitable and appropriate venue for your own cryptocurrency exchange needs.

Things we didn't like:

 No option for phone or email customer service

  Head to head With ...

• Kraken vs. Binance
• Kraken vs. Coinbase

Why would you want an alternative to KRAKEN?

Kraken is one of the internet’s largest cryptocurrency trading platforms and a very popular one indeed, attracting customers from around the globe and considered by many as the successor of the late Mt. Gox. Kraken has been rapidly gaining market share and is currently the crypto exchange with the largest Euro trading volume. Kraken’s popularity and access is largely attributed to a combination of factors, such as its low fees, which compare favourably with industry standards and are charged based on the frequency and volume traded, its advanced security features, as well as its large, wide and varied offering in terms of fiat currencies and crypto currencies supported. Offering several different cryptocurrencies, beyond the usual popular ones, and even more pairs up for trading, Kraken also accepts the main fiat currencies as well, meaning you can start your crypto journey directly from this exchange, without having to exchange your fiat for crypto elsewhere first.

Though Kraken is indeed popular and rapidly expanding, also through the acquisition of other smaller exchanges, there are some pain points faced by its users, which might lead them to consider other alternatives to this particular exchange, especially given the highly competitive nature of the current crypto exchanges landscape and the fact that new exchanges emerge daily, trying to find innovative and better ways to serve crypto enthusiasts and meet their needs and demands.

If you are indeed seeking an alternative to KRAKEN this is perhaps the result of the main cons of this exchange, namely:

Customer support issues

Many complaints about KRAKEN center around the exchanges not impeccable customer service and support levels. Many KRAKEN users report difficulties in gaining access to customer support personnel, while there have also been complaints about delays, not only in getting answers and support, but also with the verification process and funds withdrawals. Delays are a usual phenomenon in the crypto exchanges niche, as providers are often simply swamped and overwhelmed by the sheer volume of new users they attract on a daily basis, meaning they cannot serve them all smoothly at the same time. This being said, a solid, easily accessible and truly helpful customer support team is really crucial, especially for beginners in the crypto world as cryptocurrencies and the way their trading works is often complex and hard to understand, and poor customer support may be a valid reason for one to look for better alternatives.

Reliability issues

Crypto currencies are not a sport for the lighthearted and their volatile nature means that their trading carries, both immense lucrative opportunities, but also a very high risk of incurring substantial losses. The situation is further exacerbated by the fact that the crypto industry in general is inherently plagued constantly by hackers and crooks. The combination of these two factors places the issues the reliability, security, safety and transparency of any crypto exchange at the top of its users’ priority. Admittedly, KRAKEN has faced certain problems in this regard, with the exchange having to close completely in early 2018. Such incidents tend to undermine the faith and trust that users need to be able to have for their crypto exchange, especially if we are talking about casual, beginner users and those with low risk tolerance regarding their crypto exchange endeavours and might be reason enough to encourage them to look for alternatives for their crypto needs.

What to look for in a KRAKEN Alternative?

What you should be looking out for in an alternative depends largely on which KRAKEN features or part of their overall service level you are less happy with or make your own particular crypto exchange endeavor more complicated or difficult. Day traders have different need than casual traders or those who enter the crypto world with the intention of buying and holding amounts of crypto for a long time. Similarly, the needs of beginner crypto enthusiasts, centering around ease of the exchange environment and convenience in terms of payment and withdrawal methods, differ from the requirements of more seasoned and experienced users, who place more emphasis on additional features and tools that help them take their crypto game to the next level and fully maximize their potential in terms of portfolio diversification and value for money, as well as the return to be achieved from their investment.

Whichever, new or longer established, crypto exchange you may be considering as your better alternative to KRAKEN, make sure it is reliable and trustworthy, offering a satisfactory selection of crypto coins and methods of payment and withdrawal. Also, ensure that you understand its fee policies and structures and that these fees are not excessive according to the type of usage you will engage in. Finally, make sure it offers good quality customer support, especially if you are a beginner, as well as educational opportunities so you can learn to effectively exchange and trade in crypto.

Best KRAKEN alternatives – exchanges like (or better than) KRAKEN

Binance

4.7 / 5

Rating breakdown

Security

80%

4.0/5

Ease of Use

90%

4.5/5

Tradable Assets

100%

5.0/5

Deposit and withdrawal

100%

5.0/5

Trading Fees

100%

5.0/5

Support

88%

4.4/5

Things we liked:

 One of the most trusted brands in crypto
 Very fast, easy to use interface
 Binance offers extremely low transaction fees

Things we didn't like:

 Can be overwhelming for people who are new to crypto or trading

Coinbase

4.0 / 5

Rating breakdown

Security

100%

5.0/5

Ease of Use

80%

4.0/5

Tradable Assets

80%

4.0/5

Deposit and withdrawal

80%

4.0/5

Trading Fees

60%

3.0/5

Support

80%

4.0/5

Things we liked:

 Simple platform is easy to operate
 Comprehensive mobile app mirrors desktop functionality
 Coinbase Earn feature rewards you with crypto for learning about available coins

Things we didn't like:

 Higher fees than competitors

Bittrex

3.2 / 5

Rating breakdown

Security

40%

2.0/5

Ease of Use

80%

4.0/5

Tradable Assets

60%

3.0/5

Deposit and withdrawal

80%

4.0/5

Trading Fees

80%

4.0/5

Support

40%

2.0/5

Things we liked:

 Competitive, simple fees
 Simple and fast verification process
 Fast transaction execution

Things we didn't like:

 Barriers to Accessibility
 Bumpy Customer service
 Users vulnerable to scams