Kraken vs Crypto.com | Do We Have A Clear Exchange Winner?

Kraken is a well-established cryptocurrency exchange with a reputation for robust security in the digital asset trading space.

Catering to a diverse clientele that includes retail investors, seasoned traders, and institutions, Kraken's versatility is exemplified by its four distinct user interfaces: Kraken, Kraken Classic, Kraken Pro, and the NFT Marketplace.

The primary Kraken interface is ideal for newcomers to the crypto world. It offers an intuitive and straightforward platform for exploring, buying, selling, receiving, and sending cryptocurrencies.

On the other hand, Kraken Classic provides a comprehensive dashboard with access to a wide range of products, account settings, and an overview of security features.

For advanced traders, Kraken Pro is the go-to choice, offering a more sophisticated range of products.

Kraken's spot trading orderbook enables trading in over 220 cryptocurrencies, including popular ones like BTC, ETH, SOL, and ATOM.

While the selection may be more limited compared to some exchanges, it covers most major cryptocurrencies. The platform also offers margin trading with up to 5X leverage for over 100 digital assets, allowing users to take long or short positions.

A recent addition to Kraken's offerings is futures products. With more than 90 perpetual contracts available, traders can take advantage of low fees and leverage up to 50X.

These contracts vary in maturity, including monthly, quarterly, and semi-annual options, and traders have the choice of using isolated or cross margin.

Kraken also includes an analytics section which provides traders with valuable data points to inform their trading strategies.

In terms of trading volumes, Kraken ranks in the top 20 globally for 24/7 spot trading, often surpassing $1 billion. However, its derivatives trading volume is lower typically ranging between $50 and $100 million.

For crypto investors looking to use their assets, Kraken offers staking services for over 20 cryptocurrencies, including ALGO, ADA, ATOM, ETH, MATIC, DOT, SOL, and MINA.

Additionally, eligible Kraken users can earn interest on stablecoins like USDT and USDC, as well as fiat currencies such as USD and EUR, with interest rates ranging from 3% to 5%.

Kraken's NFT Marketplace supports NFTs on Ethereum, Solana, and Polygon networks, featuring over 250 digital collections. Notably, some trades incur zero fees.

As a U.S.-based exchange, Kraken adheres to stringent transparency and accountability standards, a contrast to many offshore exchanges. The company regularly provides proof of reserves, ensuring all user funds are accounted for.

Kraken also addresses the needs of high net worth individuals and institutional clients through its OTC Desk.

This service facilitates large private trades, offering quotes for orders ranging from $100,000 to $1 million, and operates with 24/7 availability.

Crypto.com has become one of the world's leading cryptocurrency exchanges with over 80 million users by focusing on marketing efforts across the United States and Europe.

One of their core offerings is spot trading which allows users to easily buy and sell over 290 of the most well-known cryptocurrencies.

For those looking to take their trading to the next level, Crypto.com offers margin trading. With margin trading, users can bet on cryptocurrency price increases (going long) or decreases (going short) with up to 5X leverage.

This can increase profits but of course also increase loses as margin trading adds risk in both directions.

Crypto.com also caters to more experienced traders by providing over 100 perpetuals and quarterly futures contracts with leverage of up to 20X for trading derivatives.

If you prefer automated trading, Crypto.com offers three different trading bots: grid, DCA (Dollar-Cost Averaging), and TWAP (Time-Weighted Average Price) bots, making trading more accessible.

While Crypto.com offers a variety of features, their trading volumes currently rank in the top 30 among exchanges, with 24-hour spot and derivatives volumes each hovering around $1 billion. These volumes are in-line with Kraken on the spot trading but higher for derivatives trading.

In addition to trading, Crypto.com provides financial products such as earning interest and staking where users can earn interest on over 20 digital assets, including popular ones like BTC, ETH, ADA, DOT, SOL, ATOM, and USDT.

However, the interest rates are in many cases not as competitive as those offered by other exchanges and the same holds true for staking rewards, where users can often find better returns by staking their assets directly on the respective blockchain.

For those who prefer to spend their crypto holdings instead on earning with them, Crypto.com offers a Visa Card that provides up to 10% cashback on real-world purchases, making it easier to use cryptocurrency for everyday expenses.

If you're into NFTs and digital collectibles, Crypto.com offers access to hundreds of collections including popular ones like bored apes and pudgy penguins, on various blockchains like Ethereum, Polygon, Solana, and Cronos Chain.

Crypto.com has also developed a non-custodial wallet which allows users to securely store, trade, and earn on their cryptocurrencies without relying on a third party. This wallet is available as a desktop application and a browser extension.

Finally, for high-net-worth individuals and institutional clients, Crypto.com has a dedicated OTC counter where they can place orders ranging from a minimum of $50,000 to a maximum of $5,000,000 with competitive rates.