Key Takeaways
- Binance has lower base trading fees, more coins and deeper liquidity.
- Kraken has a stronger security record and is available in most US states.
- Binance suffered a record hack in October 2026 and has faced regulatory action; Kraken has never lost customer funds to a major hack.
- US residents can't use Binance's main platform, which makes Kraken the default choice there.
Kraken and Binance are two of the world's biggest crypto exchanges, but they take very different approaches. Binance competes on scale, coin selection and low fees; Kraken competes on security, transparency and regulation. Here's a side-by-side comparison.
Kraken vs Binance at a glance
| Kraken | Binance | |
|---|---|---|
| Founded | 2011 | 2017 |
| Base spot fees | From 0.40% maker / 0.80% taker (Kraken Pro) | 0.10% maker / 0.10% taker |
| Coin selection | Hundreds | Larger selection and more pairs |
| US availability | Most states | No (Binance.US is separate) |
| Security record | No major hack of customer funds | Record hack in October 2026; losses pledged to be covered |
| Proof of reserves | Yes | Yes |
| Derivatives | Futures and margin in eligible regions | Extensive futures and options |
Fees
Binance is cheaper at the base tier, and paying fees in BNB unlocks a further discount. Kraken Pro's entry fees are higher, though they fall with volume or assets held. Both charge more for instant buys and card purchases than for order-book trades. See our Kraken review and Binance review for current fee details, and crypto fees explained.
Coin selection and liquidity
Binance has the largest coin selection and deepest liquidity of any centralized exchange, which means tighter spreads on many pairs. Kraken lists hundreds of assets, enough for most investors, but fewer small-cap tokens.
Security
Kraken is known for conservative security and has never suffered a major hack of customer funds. Binance maintains its SAFU emergency fund and strong account security tools, but in October 2026 it lost about $6.3 billion from hot wallets in the largest crypto theft on record and pledged to cover all losses. Read our coverage. Whichever you use, keep long-term holdings in a hardware wallet.
Regulation and availability
Kraken is available in most US states, the UK, the EU and many other countries. Binance's main platform does not serve US residents and has faced regulatory action in several countries, including a 2023 settlement with US authorities. Check what's licensed where you live.
Which should you choose?
- Choose Kraken if you're in the US, or if you value security, regulation and support above the lowest fees.
- Choose Binance if you're outside the US, trade actively and want the lowest fees and widest coin selection, keeping only trading balances on the platform.
Also see Binance vs Coinbase and Coinbase vs Kraken.
Frequently asked questions
Is Kraken safer than Binance?
Kraken has the stronger security track record. Binance has strong tools and an emergency fund but suffered a record hack in 2026.
Is Binance cheaper than Kraken?
Yes, at the base tier Binance's spot fees are lower, especially with the BNB discount.
Can Americans use Binance?
Not the main platform. US users can use Binance.US, a separate company with fewer features.
This comparison is for educational purposes only and is not financial advice. Fees, features and availability change; confirm details on each exchange's official website.
This content is for educational purposes only and is not financial advice. Cryptocurrency investments are volatile and risky. Some links may be affiliate links — see our disclosure.