Kraken vs Robinhood: Which is Best? [2024]
Key differences
- Kraken Pro offers slightly lower fees than Robinhood. Robinhood only charges 0.55%, which is lower than Kraken Instant Buy.
- Robinhood has a larger user base with around 13.7M users compared to Kraken's 10M users.
- Robinhood allows you to buy Bitcoin ETFs and Bitcoin, while Kraken does not support Bitcoin ETFs.
Kraken vs Robinhood Fees Calculator
Enter the amount you want to buy and we'll show you the estimated fees for each exchange.
Kraken vs Robinhood in Comparison
Description
Popular and well-known exchange based in the USA.
Popular and well-known exchange based in the USA. Buy & trade with ACH transfers. Also offers U.S. Bitcoin ETFs like IBIT and FBTC.
Supported Countries
Available in over 190 countries globally with some restrictions. Not available in New York, Washington state, Japan, Russia, Belarus, Cuba, Iran, Iraq, North Korea and a few other restricted regions. Some European countries have restrictions on specific services like futures trading.
Only available in the United States, US Virgin Islands, Puerto Rico, and District of Columbia. Licensed by FinCEN and regulated as a broker-dealer by the SEC.
Supported Cryptocurrencies
Over 200 cryptocurrencies supported including BTC, ETH, USDC, SOL, DOGE, SHIB, XRP, ADA, MATIC, DOT, AVAX, LINK, MANA, LUNA2, ATOM, ALGO, APT, ARB, FTM, NEAR, OP, PYUSD, STRK, SUI, TON, TRX, XLM, XMR, XTZ and many more across multiple networks including Ethereum, Solana, Bitcoin, Polygon, Arbitrum, and others.
Over 20 cryptocurrencies available for trading including BTC, ETH, DOGE, SHIB, SOL, ADA, AVAX, LINK, XRP, LTC, BCH, COMP, AAVE, UNI, XLM and more.
Fees
- Withdrawal Fees:
- ACH: Free
- Wire Transfer: $25
- SEPA: Free
- SWIFT: $25
- BTC: Network fees vary
- Features:
- No commission crypto trading
- Minimum purchase of $1
- Instant deposits up to $1,000 (Instant account)
- Instant deposits up to Gold tier amount (Gold account)
Payment Methods
ACH, Bank Account, Apple Pay, Google Pay, SEPA, Interac e-Transfer, Debit Card, PayPal, Instant Verification
ACH, Debit Card, Bank Account, Wire Transfer
Do These Exchanges Allow you To Earn Interest on Crypto?
0.15% - 6.5%
Available for BTC (0.15% bonded/0.1% flexible), USDT/USD/USDC (6.5% bonded/4.5% flexible), and EUR (4.45% bonded/3.5% flexible).
Mobile App Ratings
iOS Rating: 4.7 Official rating from the iOS App Store as of November 18, 2024.
Android Rating: 4.3 Official rating from the Android Play Store as of November 18, 2024.
iOS Rating: 4.2 Official rating from the iOS App Store as of November 18, 2024.
Android Rating: 4.2 Official rating from the Android Play Store as of November 18, 2024.
Storage
Industry-leading security with ISO/IEC 27001:2013 certification and SOC 2 Type 1 examination. Funds stored in secure cold storage with 24/7 armed guard surveillance. Features include advanced encryption, FIDO2 2FA, customizable API permissions, global settings time lock, and proof of reserves auditing. No phone/SMS recovery to prevent SIM swap attacks. Expert security team with constant monitoring and testing.
Cryptocurrencies are stored using a combination of cold (offline) and hot (online) storage, with the majority held in cold storage for enhanced security. Users can withdraw cryptocurrencies to their own wallets. The platform employs industry-leading security measures and regular audits. Crypto assets are not FDIC insured or protected by SIPC.
Have These Exchanges Been Hacked Before?
Yes, Kraken was hacked in June 2024, but the crypto exchange was able to fix the breach within 47 minutes and no client funds were lost.
No. However, in November 2021, Robinhood reported a data breach affecting approximately 7 million customers. Prior to this, in July 2019, the company admitted to storing some users' passwords in plaintext. The company has also acknowledged occasional small-scale account compromises.
Official Site
Exchange Review
No review available
"What a fantastic trading platform. Wonderful to have it as the mobile version, being able to work your trades on the go. Keeping up with the portfolio just became incredibly easy! Love you guys and thank you for the work. New trader here! The interface is easy to navigate and a pleasure on the eyes. The setup is notable, and perhaps there should be instructions provided in the app upon first launch. :)"
- Real user review from iOS App Store, Android Play Store or Trustpilot
"Good app! Relatively new to the crypto world, I've tried about 8-9 different wallets and Robinhood has been my favorite so far. Their interface is outstanding; you're able to see Live market data for current crypto prices; you can view returns by total returns or 24 hours, either by dollar amount or percentage. The buying process is instantaneous. The only improvement I'd like to see is hopefully they will adopt ALL ISO20022 compliant crypto. 🚀 💯"
- Real user review from iOS App Store, Android Play Store or Trustpilot
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