Comparison of Kraken vs Bingx [ 2025 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Kraken vs Bingx comparison!

Your expert: Alejandro Borja

Kraken

Investing risks losing your money

Your expert: Xavier Tarrasó

Bingx

Investing risks losing your money

Main points

Fees

0,16%/0,26%

Earns

Customer service

5/5

0,10%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.5 – Low fees with additional benefits for high-volume traders.

4.0 – Competitive fees with additional benefits for social trading features.

Level

0,16%/0,26%

0,10%

Brief explanation

Kraken’s commission structure is designed to be competitive and favorable for both low and high-volume traders. The exchange employs a tiered fee schedule that rewards users with lower trading fees as their trading volume increases over a 30-day period. Fees vary depending on whether you are a maker (creating a new order on the book) or a taker (filling an existing order), with maker fees generally being lower than taker fees to encourage liquidity. While the fees are relatively low for high-volume traders, those trading smaller amounts may find the fees slightly higher compared to other platforms. Additionally, Kraken charges flat fees for fiat deposits and withdrawals, though these can vary based on the method and currency used. Overall, Kraken’s fee structure is transparent, with details readily available on its website, helping users to anticipate and calculate potential trading costs effectively.

BingX offers a competitive and transparent fee structure that is designed to accommodate both occasional and frequent traders. The platform charges a trading fee for each transaction, which is broken down into maker and taker fees. These fees are competitively set to encourage trading activities while ensuring the platform can maintain high-quality services. The trading fees on BingX are tiered based on the user’s trading volume, which means that the more you trade, the lower your fees can be. This system is particularly advantageous for active traders who can benefit from significantly reduced costs as their trading activity increases. Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain. Overall, BingX’s commission structure is built to support both new entrants to the crypto market and seasoned traders, ensuring transparency and fairness in every transaction.

Kraken

Security Methods: Kraken's commitment to security is unparalleled, utilizing state-of-the-art security measures such as two-factor authentication, SSL encryption, and cold storage of the majority of assets. This rigorous approach minimizes the risk of hacking and unauthorized access, making it a trusted platform for trading cryptocurrencies.
Reputation and Reviews: Kraken has maintained a strong reputation within the crypto community for over a decade. Its track record of security, user-focused services, and operational resilience has garnered positive reviews from users and industry analysts alike, reinforcing its standing as a reputable exchange.
Transparency: Kraken is known for its transparency in operations, frequently updating users on system upgrades, security measures, and changes in regulatory compliance. This openness builds trust and ensures that users are well-informed about their trading environment.
Trading Volume and Liquidity: Kraken is one of the largest exchanges in terms of trading volume and liquidity. This allows users to execute large trades without significantly affecting the market price, which is critical for both retail and institutional traders.
Possible Regulation: Kraken adheres to regulatory requirements in all jurisdictions in which it operates, enhancing its credibility and reliability. Compliance with these regulations not only ensures the legality of its operations but also provides a layer of security for its users' investments.

Read Kraken review

Bingx

Security Methods: BingX implements stringent security protocols, including two-factor authentication, cold storage of assets, and encryption technologies. These measures ensure a high level of protection for user funds and personal information, making it a trustworthy platform for trading cryptocurrencies.
Reputation and Reviews: BingX has built a solid reputation within the crypto community, backed by positive user reviews and ratings. The platform's commitment to user satisfaction and continuous improvement has garnered trust and loyalty among its users.
Transparency: BingX operates with a high degree of transparency, providing clear information about its operations, fee structure, and trading processes. This openness is crucial in building trust with users and differentiates BingX from other exchanges that might not be as forthcoming.
Trading Volume and Liquidity: The exchange boasts significant trading volume and liquidity, ensuring that trades can be executed quickly and at stable prices. High liquidity not only enhances the user experience but also establishes BingX as a reliable exchange for handling large volumes of trades efficiently.
Customer Service: Despite some delays, BingX's dedication to providing helpful and responsive customer service contributes to its trustworthiness. The platform's efforts to improve response times and expand its support capabilities demonstrate a commitment to user support, crucial for trust and reliability in the fast-paced crypto market.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Payward, Inc.

BingX Trading

Regulation

Regulated in the EE. UU.

Not regulated

Year founded

2011

2018

Founder

Jesse Powell

Elvisco Carrington

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Kraken	FEATURES	Bingx
Kraken allows relatively low minimum trade volumes, making it accessible for beginners.	Minimum Trade	The minimum trade size is accessible for beginners, allowing small investments to start trading.
Competitive fees, though slightly higher for low volume traders; discounts for high volume.	Trading and Transaction Fees	Competitive fees compared to industry standards, making it economical for frequent trading.
Offers a wide selection of cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.
Extensive range of trading pairs, though some less popular pairs have lower liquidity.	Crypto-to-Crypto Trading Pairs	A wide array of trading pairs provides good options for crypto-to-crypto trading.
High transparency about fees, security measures, and operational status updates.	Website Transparency	Highly transparent about trading processes and fees, providing clear and easy-to-find information.
Kraken does not offer an exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	While BingX provides a robust trading platform with various features, the lack of an exchange card limits additional spending flexibility and rewards for its users
Excellent security with a majority of funds held in cold storage; provides peace of mind.	Storage Offering	Offers robust storage solutions including cold storage options to secure user funds.
Offers staking options with competitive rewards, although not available for all assets.	Staking and Rewards	Provides staking options with competitive rewards, enhancing passive earning potential.
Both platforms are robust and fully-featured, though the interface can be complex for new users.	Mobile App and Desktop	Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.
Customer service is reliable but can experience delays during high demand periods.	Customer Service	Good customer support with room for improvement in response times and accessibility.
Efficient deposit and withdrawal processes, though options may vary by region.	Deposit and Withdraw	Efficient deposit and withdrawal processes with clear guidelines, but could be faster.

Key features

Analysis tools

Advanced charting tools, technical analysis

Trading signals, technical analysis tools

Mobile APP

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, Kraken Pro exchange

Copy trading, margin trading, derivatives trading, BingX Academy

Anonymity

Yes

Key points

Available cryptocurrencies

100+

50+

User-friendliness

Kraken features a clean and intuitive interface that is easy for beginners to use. The platform is designed to provide a seamless trading experience, making it easy to buy and sell cryptocurrencies.

BingX features an easy-to-navigate platform with a focus on social trading. The user interface is designed to be beginner-friendly, allowing users to follow and copy trades from experienced traders effortlessly.

Value for money

Offers excellent value for money with low trading fees, strong security features, and a wide range of supported cryptocurrencies.

Delivers good value for money with competitive fees and innovative social trading features, making it a cost-effective choice for traders.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

Singapore, United States, Canada, Australia, United Kingdom

Best for

Suitable for all types of investors, from beginners to advanced traders, due to its low fees, strong security features, and wide range of supported cryptocurrencies.

Suitable for both beginners and experienced traders interested in social trading and following the strategies of other successful traders.

Base currencies available

USD, EUR, CAD, GBP, JPY, BTC

USD, BTC, USDT

Account

Trading

Kraken is known for its high security and wide range of cryptocurrencies. It offers advanced trading tools and competitive fees but can be complex for beginners.

BingX focuses on social trading, allowing users to follow and copy trades from experienced traders. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

Deposit and withdrawal

Kraken supports a wide range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees .

BingX provides various deposit methods, including bank transfers and crypto. Withdrawals are fast and generally processed within 24 hours. Fees are low, making it user-friendly.

Account opening process

Kraken offers a straightforward and secure account registration process. Users need to submit personal details, verify their identity, and address. The process is fully digital and typically takes less than a day to complete.

BingX offers a simple and fast account opening process. Users need to fill in basic information and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

Kraken offers comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance .

BingX provides customer support via email and live chat. The support team is responsive and helpful, although 24/7 availability is not guaranteed, which can be a limitation.

Security

Kraken offers extensive security features, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, making it a highly secure platform for investors.

BingX uses standard security measures like 2FA and cold storage. However, it is not regulated by top-tier financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

In concluding our comprehensive review of Kraken through Threenvest’s lens, it’s clear that Kraken stands as a formidable player in the cryptocurrency exchange landscape. Known for its robust security measures, wide range of cryptocurrencies, and advanced trading features, Kraken appeals especially to traders who prioritize safety and a diverse portfolio. These strengths are complemented by its deep liquidity and competitive fee structure, making it a preferred choice for serious traders. However, its complex interface and sometimes slow customer service response times during peak periods could pose challenges, particularly for newcomers to cryptocurrency trading. Compared to other exchanges, Kraken’s commitment to regulatory compliance and security is notably strong, positioning it as one of the safer trading environments in an industry fraught with security concerns. On the flip side, its user interface and learning curve may not be as appealing to beginners as some other platforms that focus more heavily on user-friendliness and simple navigation. For users of Threenvest looking to engage in sophisticated trading strategies or those who value a highly secure trading platform, Kraken is undoubtedly a top contender. However, those new to the market might consider starting with platforms that offer more guidance and a more intuitive trading experience.

Xavier Tarrasó

As an expert on our website, I highly recommend BingX for both new and experienced traders seeking a balanced platform. Its strong security measures and transparent trading environment provide a trustworthy space for cryptocurrency transactions. However, while the platform offers robust features, including diverse trading pairs and competitive staking rewards, potential users should note the occasional delays in customer service response times. Overall, BingX stands out as a solid choice for navigating the complexities of the crypto market.

View all comparisons against Kraken

View all comparisons against Bingx

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.