Comparison of Kraken vs Bitpanda [ 2024 ]

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

Your expert: Alejandro Borja

Kraken

Your expert: Xavier Tarrasó

Bitpanda

Main points

Fees

0,16%/0,26%

Earns

Customer service

5/5

0,10%/1,49%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

3.8 – Reasonable fees with some additional costs for non-crypto trading.

Level

0,16%/0,26%

0,10%/1,49%

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.

Bitpanda’s fee structure is designed to be transparent and straightforward, which benefits users by making it easy to understand the costs associated with trading and transactions. The platform charges a variety of fees, including trading fees, withdrawal fees, and deposit fees, although deposits in some methods like bank transfers may be free. Trading fees vary depending on the asset and can be slightly higher compared to some competitors, typically around 1.49% for buying and selling cryptocurrencies. This is offset somewhat by the convenience and range of services Bitpanda offers, including the ability to trade precious metals alongside digital assets. Overall, while the fees are not the lowest in the market, the high level of service and security provided by Bitpanda may justify the costs for many users.

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.

Bitpanda

Year Founded: Established in 2014, Bitpanda has been operational for nearly a decade, providing it ample time to build a robust platform and gain extensive industry experience. Its longevity is a testament to its reliability and the trust it has cultivated among its users.
Number of Users: Bitpanda serves over a million users, demonstrating widespread acceptance and trust within the cryptocurrency community. A large user base not only reflects customer satisfaction but also adds to the platform's liquidity and overall market stability.
Security Methods: Bitpanda employs state-of-the-art security measures including SSL encryption, two-factor authentication (2FA), and cold storage of funds. These practices ensure that user assets are protected against unauthorized access and potential cyber threats.
Possible Regulation: Adhering strictly to European regulations, Bitpanda is compliant with the stringent legal standards required within the EU. This compliance ensures that the platform operates with transparency and accountability, further establishing its credibility.
Reputation and Reviews: Bitpanda boasts positive reviews and a strong reputation within the financial technology community. It has been recognized for its user-friendly interface, comprehensive educational resources, and responsive customer service, all of which contribute to its high customer satisfaction ratings.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Payward, Inc.

Bitpanda GmbH

Regulation

Regulated in the EE. UU.

Regulated in Austria

Year founded

2011

2014

Founder

Jesse Powell

Eric Demuth, Paul Klanschek, Christian Trummer

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Kraken	FEATURES	Bitpanda
Kraken allows relatively low minimum trade volumes, making it accessible for beginners.	Minimum Trade	Bitpanda allows small minimum trades, making it accessible for beginners to start with little capital.
Competitive fees, though slightly higher for low volume traders; discounts for high volume.	Trading and Transaction Fees	Fees are competitive, though crypto deposit fees could be improved.
Offers a wide selection of cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Bitpanda supports a solid range of over 350 cryptocurrencies, suitable for most traders.
Extensive range of trading pairs, though some less popular pairs have lower liquidity.	Crypto-to-Crypto Trading Pairs	Offers a decent selection of trading pairs, but more could be added, especially on Bitpanda Pro.
High transparency about fees, security measures, and operational status updates.	Website Transparency	High level of transparency regarding fees, security measures, and company information.
Kraken does not offer an exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	The Bitpanda Card offers seamless integration with the platform, providing flexibility and convenience for everyday spending and access to various benefits like cashback and easy conversion between different asset types.
Excellent security with a majority of funds held in cold storage; provides peace of mind.	Storage Offering	Provides secure storage solutions, including cold storage, although it lacks a dedicated user-controlled wallet.
Offers staking options with competitive rewards, although not available for all assets.	Staking and Rewards	Offers staking options and rewards through the Bitpanda Ecosystem Token (BEST), adding value for users.
Both platforms are robust and fully-featured, though the interface can be complex for new users.	Mobile App and Desktop	Both mobile and desktop platforms are highly user-friendly and well-designed, offering a seamless experience.
Customer service is reliable but can experience delays during high demand periods.	Customer Service	Customer service is generally praised for its responsiveness and helpfulness, though availability could improve.
Efficient deposit and withdrawal processes, though options may vary by region.	Deposit and Withdraw	Bitpanda supports multiple deposit and withdrawal methods, but could improve by removing deposit fees.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, Kraken Pro exchange

Stocks and ETFs trading, metals trading, savings plans, Bitpanda Pro exchange

Anonymity

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.

Bitpanda is known for its clean and intuitive interface, making it an excellent choice for beginners. The platform is easy to navigate, and the process of buying and selling cryptocurrencies is straightforward.

Value for money

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

Offers good value for money with competitive fees and a wide range of financial products, making it suitable for both beginners and experienced traders.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

Austria, Germany, Switzerland, France, Spain

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.

Great for European investors looking for a user-friendly platform with a wide range of financial products and competitive fees.

Base currencies available

USD, EUR, CAD, GBP, JPY, BTC

EUR, CHF, GBP, USD, TRY

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.

Bitpanda is user-friendly and supports a wide range of cryptocurrencies. It is particularly good for European users, offering easy fiat integration and competitive fees. However, it lacks some advanced trading tools.

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 .

Bitpanda offers a variety of deposit options, including bank transfers, credit/debit cards, and e-wallets. Withdrawals are processed within a day, with competitive fees .

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.

Bitpanda offers a seamless and user-friendly account opening process. Users need to provide personal information, verify their identity, and typically, the account is approved within a day.

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 .

Bitpanda provides extensive support through email, live chat, and a help center. The response time is quick, and support is available 24/7, making it reliable for users globally.

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.

Bitpanda offers comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Austrian authorities, ensuring high security for 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 at Threenvest, I highly recommend Bitpanda for investors seeking a versatile and user-friendly platform, especially those based in Europe. Bitpanda’s broad range of assets from cryptocurrencies to precious metals, combined with its intuitive interface, makes it an excellent choice for both newcomers and seasoned traders. However, do consider the platform’s regional availability and fee structure to ensure it aligns with your investment strategies and geographic location.

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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.