Kraken vs Bitfinex

Kraken vs Bitfinex Comparison Table 2024
Kraken	Bitfinex
Review 3.9 Kraken is #16 in our crypto broker rankings.	Review 3.9
Traders from US accepted	Traders from US not accepted See available crypto brokers
Kraken is a leading cryptocurrency exchange with a proprietary trading terminal and a list of 220+ tradeable crypto tokens. Up to 1:5 leverage is available with stable rollover fees on spot crypto trading and up to 1:50 on futures. The exchange also supports crypto staking and has an interactive NFT marketplace.	Established in 2012, Hong Kong-based Bitfinex is a formidable player in the crypto industry. It boasts a powerful proprietary platform, 180 cryptocurrencies and more than 430 market pairs available for spot or perpetual swaps derivatives trading. With new payment methods, lower entry barriers and fresh products like crypto futures, Bitfinex is attracting a wider range of active crypto traders.
Bonus Offer
Lower fees when trading volume exceeds $50,000 in 30 days	Referral Codes
Comment by Reviewer
"Kraken will suit traders looking for a diverse list of cryptos including Bitcoin and a good security track record."	"With its growing token selection, advanced charting tools and volume-based fee structure, Bitfinex is a compelling choice for frequent crypto traders. However, testing reveals a daunting platform for newer day traders, hit-and-miss education and regulatory fines that raise safety concerns."
Pros
Very good security track record with no hacks in a decade since launch Excellent range of 220+ more established cryptocurrencies NFT marketplace and crypto staking available Great trading platform and mobile app Low exchange fees on Kraken Pro 50x leverage on futures trading Low minimum deposit of $10 3D secure required Mobile investing Crypto staking	Despite a steep learning curve, the Bitfinex trading platform delivers for experienced traders, featuring a comprehensive charting package with 12 timeframes, plus margin trading and various order types. Bitfinex boasts excellent liquidity across its crypto trading pairs, reducing the likelihood of slippage and ensuring efficient order execution, particularly for large volume trades, making it reliable for frequent traders. After bolstering its roster, Bitfinex now offers access to over 180 cryptocurrencies, from Bitcoin and Ethereum to emerging altcoins with high levels of volatility that may appeal to day traders. Bitfinex is well-suited to algo traders, facilitating automated trading through its Honey terminal and API integration, enabling traders to program trading strategies efficiently.
Cons
Slow verification process on Pro account Does not support many newer altcoins Low leverage on spot trading Does not accept fiat deposits Slow verification times	Despite enhancing its security measures with two-factor authentication, Bitfinex still hasn’t escaped its dogged history of major security breaches and regulatory fines. Like many crypto exchanges, Bitfinex operates in a regulatory grey area, which may pose risks for traders, especially compared to trusted crypto trading platforms like eToro. Although Bitfinex has removed its $10,000 minimum deposit, making it more accessible to newer traders, the fee system remains complicated, with various factors such as trading volume and token holdings influencing fees, potentially leading to confusion. Testing reveals inadequate support, especially for active traders, with response times of 12 hours via email and a frustrating user experience with no live chat integrated into the trading platform. For occasional crypto traders and investors prioritizing simplicity, platforms like eToro, Gemini, or Kraken are superior options.
Instruments
Cryptos	Cryptocurrencies
Demo Account
Yes	Yes
Minimum Deposit
$10	$0
Trading Platforms
AlgoTrader	Web Platform
Payment Methods
Bitcoin Payments Etana Ethereum Payments PayID Wire Transfer Silvergate Bank Transfer	Volet Bitcoin Payments Credit Card Debit Card Ethereum Payments Mastercard Payoneer PayPal Perfect Money Simplex Skrill TransferWise UnionPay Visa Western Union Wire Transfer
Minimum Trade
Variable	$10
Regulator
FCA, FinCEN, FINTRAC, AUSTRAC, FSA
Margin Trading
Yes	Yes
STP Account
No	No
ECN Account
No	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	Yes
Spot Trading
Yes	Yes
Mobile Apps
Yes	iOS & Android
App Review
	Bitfinex provides a mobile application that mirrors the full functionality of its web platform, facilitating seamless crypto trading on the move. The app also includes a Lite Mode for a simplified trading experience, presenting a more user-friendly interface for trading, staking, and lending cryptos, requiring just a few taps. The app is downloadable from both Apple’s App Store and Google’s Play Store, though app store ratings demonstrate a superior user experience on iOS devices.
Android App Rating
	3.5
iOS App Rating
	4
Auto Trading
Kraken Futures is integrated in other platforms which have bots: Bookmap, Caspian, FMZ Quant, Gunbot, HaasOnline, Hyndor, Margin	Yes
Copy Trading
No	No
Social Trading
No	No
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	$5
Islamic Account
No	No
Account Currencies
USD EUR GBP CAD AUD JPY CHF	USD EUR GBP JPY TRY
Cryptocurrency
Kraken is a specialized crypto exchange and supports more than 220 cryptocurrencies. These include all of the established tokens like Bitcoin as well as some altcoins. Traders can make trades on spot crypto markets with up to 1:5 leverage or on futures with up to 1:50. Fees are low and the platform is super easy to pick up.	Bitfinex provides access to an exceptional variety of crypto assets, encompassing over 180 tokens. In addition to spot trading, the platform supports perpetual swaps trading, enabling traders to engage in margin trading on crypto assets with leverage up to 1:10. With digital tokens frequently listed and delisted, Bitfinex provides diverse opportunities to participate in the dynamic cryptocurrency market.
Spread
0-0.26% average	Taker (0.2% to 0.055%) and maker (0.1% to 0.0%)
Coins
AAVE ALGO ANT REP REPV2 BAT BAL XBT BCH ADA LINK COMP ATOM CRV DAI DASH MANA XDG EWT EOS ETH ETC FIL FLOW GNO ICX KAVA KEEP KSM KNC LSK LTC MLN XMR NANO OCEAN OMG OXT PAXG DOT QTUM XRP SC XLM STORJ SNX TBTC USDT XTZ GRT TRX UNI USDC WAVES YFI ZEC BNB	BTC ETH USDT LTC XRP DOGE ETC EOS LINK BCHN DOT DASH IOTA SUSHI NEO ZEC UNI ADA OMG MDOGE BSV TRX XTZ SOL XLM YFI USDC ZRX FIL VET XMR COMP BTG DAI LUNA CEL ALGO ATOM EGLD FTT AVAX MKR LEO BTT CHZ BAT BAND QTUN CLO AAVE XDC HEZ KNC ZIL MANA BAL UOS
Crypto Lending
No	Yes
Crypto Mining
No	No
Crypto Staking
Yes	Yes
Auto Market Maker
No	No

Review	Review