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Binance vs Kraken

Comparing
two exchanges
Decided by
Editorial rating
Last reviewed
2026-08-23
Binance4.2

The largest crypto exchange by volume: the deepest bitcoin liquidity anywhere, the lowest headline spot fee of any major platform, and quarterly proof of reserves, under a settled US case and an independent monitor.

Kraken4.7

A 2011-vintage exchange with one of the cleanest security records in the business, heading toward a US stock listing.

Verdict: Kraken

Kraken rates higher on our rubric: 4.7 against 4.2 for Binance.

Criterion
Editorial rating
Binance
4.2
Kraken
4.7

Binance and Kraken, fact by fact

Every row is from the two reviews as of their review dates, with sources on each. A check marks the side a decidable criterion favours; rows without one are information, not a score.

Binance and Kraken compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
FactBinanceKraken
Editorial rating4.24.7 (favoured on this row)
Published feesFrom 0.1% spot, maker and takerFrom 0.25% maker, 0.40% taker
Maker fee0.1% at the base tier, falling with 30-day volume and BNB holdings0.25% on Kraken Pro below $10,000 in 30-day volume, decreasing at higher tiers
Taker fee0.1% at the base tier, falling with 30-day volume and BNB holdings0.40% on Kraken Pro below $10,000 in 30-day volume, decreasing at higher tiers
Identity verificationRequiredRequired
Bitcoin-onlyNoNo
Payment rails supported4214
Countries ranked in181127
Ranks first in10010
Countries shared102102
Security record10 dated events, 2 incidents, latest 2026-06-2510 dated events, 2 incidents, latest 2026-06-30
Founded20172011
HeadquartersNot statedSan Francisco, United States
Last reviewed2026-08-122026-08-23

Where both Binance and Kraken are ranked

Each country guide ranks its own roster on published fees, security record and local payment support, so the two can sit in a different order from one country to the next.

Countries whose guide ranks both Binance and Kraken, with each platform's position in that guide.
CountryStatusBinance ranksKraken ranksComparison
AlbaniaLegal#1#2
AnguillaLegal#1#3
Antigua and BarbudaLegal#1#3
ArgentinaLegal#1#2
ArubaLegal#1#3
AustraliaLegal#1#3Best exchanges there
AustriaLegal#7#4Best exchanges there
BahamasLegal#1#3
BarbadosLegal#1#3
BelgiumLegal#7#3Best exchanges there
BoliviaLegal#1#2
BrazilLegal#1#6
British Virgin IslandsLegal#1#3
BulgariaLegal#7#3
Caribbean NetherlandsLegal#1#3
Cayman IslandsLegal#1#3
ChileLegal#1#2
ColombiaLegal#1#2Best exchanges there
Cook IslandsLegal#2#3
Costa RicaLegal#1#2
CroatiaLegal#7#3
CuracaoLegal#1#3
CyprusLegal#7#3Best exchanges there
Czech RepublicLegal#7#3
DenmarkLegal#7#3Best exchanges there
DominicaLegal#1#3
Dominican RepublicLegal#1#2
EcuadorLegal#1#2
EstoniaLegal#7#3
Falkland IslandsLegal#3#2
FijiLegal#2#3
FinlandLegal#7#3Best exchanges there
FranceLegal#7#3
French PolynesiaLegal#2#3
GeorgiaLegal#1#2Best exchanges there
GermanyLegal#7#4Best exchanges there
GreeceLegal#7#3
GrenadaLegal#1#3
Hong KongLegal#2#1
HungaryLegal#7#3
IcelandLegal#6#2Best exchanges there
IrelandLegal#7#3Best exchanges there
ItalyLegal#7#3Best exchanges there
JamaicaLegal#1#3Best exchanges there
KiribatiLegal#2#3
LatviaLegal#7#3
LiechtensteinLegal#6#3
LithuaniaLegal#7#3
LuxembourgLegal#7#3Best exchanges there
MacaoUnclear#1#3
MaltaLegal#7#3
Marshall IslandsLegal#2#3
MauritiusLegal#1#2
MexicoLegal#1#2Best exchanges there
MicronesiaLegal#2#3
MoldovaLegal#1#2
MontenegroLegal#1#2
MontserratLegal#1#3
NauruLegal#2#3
Netherlands AntillesLegal#1#3
New CaledoniaLegal#2#3
New ZealandLegal#2#1
NiueLegal#2#3
Norfolk IslandLegal#2#3
North MacedoniaLegal#1#2
NorwayLegal#6#2Best exchanges there
PalauLegal#2#3
PanamaLegal#1#2
Papua New GuineaLegal#2#3
ParaguayLegal#1#2
PeruLegal#1#2
Pitcairn IslandsLegal#3#2
PolandLegal#7#3Best exchanges there
PortugalLegal#7#3
RomaniaLegal#7#3
SamoaLegal#2#3
SerbiaLegal#1#2
SeychellesLegal#1#2
Sint MaartenLegal#1#3
SlovakiaLegal#7#3
SloveniaLegal#7#3
Solomon IslandsLegal#2#3
South AfricaLegal#3#4Best exchanges there
SpainLegal#7#3Best exchanges there
St. HelenaLegal#3#2
St. Kitts and NevisLegal#1#3
St. LuciaLegal#1#3
St. Vincent and the GrenadinesLegal#1#3
SwedenLegal#7#3Best exchanges there
TaiwanLegal#1#2
ThailandLegal#1#2
TokelauLegal#3#2
TongaLegal#2#3
Trinidad and TobagoLegal#1#3
Turks and CaicosLegal#1#3
TuvaluLegal#2#3
UkraineLegal#1#2Best exchanges there
United Arab EmiratesLegal#2#3
UruguayLegal#1#2
VanuatuLegal#2#3
VietnamLegal#1#2
Wallis and Futuna IslandsLegal#3#2

Security records of the exchanges ranked in this comparison

Dated events from each review, newest first: breaches, enforcement actions, licences, audits and proof-of-reserves publications. Every exchange ranked here carries one.

Binance10 events

  1. 2026-06-25Licence

    Failed to obtain a MiCA licence and stopped serving EU clients

  2. 2025-12-08Licence

    Abu Dhabi regulator licensed the main Binance.com platform

  3. 2025-10-10Outage

    Pricing failure forced liquidations, 283 million dollars repaid

The full record, with sources, in the Binance review

Kraken10 events

  1. 2026-06-30Proof of reserves

    Latest proof of reserves shows bitcoin backed at 102.9%

  2. 2026-04-14Breach

    Kraken refuses extortion after two support staff misused internal systems

  3. 2025-06-26Licence

    Kraken wins a MiCA licence from the Central Bank of Ireland

The full record, with sources, in the Kraken review

Frequently asked questions

Is Binance or Kraken better?

Kraken rates higher on our rubric: 4.7 against 4.2 for Binance. The rating weighs published fees, security record and local payment support; the table above sets each beside the other so you can check the score against the facts.

Which is cheaper, Binance or Kraken?

Binance: From 0.1% spot, maker and taker. Kraken: From 0.25% maker, 0.40% taker. Those are each platform's published headline rates; card purchases and instant-buy widgets cost more than the order book on both, and each review carries the full schedule.

Where can I use both Binance and Kraken?

Both are ranked in our guides for 102 countries, including Albania, Anguilla, Antigua and Barbuda, Argentina, Aruba. Binance is ranked in 181 countries in all and Kraken in 127; each country guide ranks its own roster, so the two can sit in a different order from one country to the next.

Has Binance or Kraken had a security incident?

Binance carries 2 incidents among 10 dated events, the latest on 2025-10-10: Pricing failure forced liquidations, 283 million dollars repaid. Kraken carries 2 incidents among 10 dated events, the latest on 2026-04-14: Kraken refuses extortion after two support staff misused internal systems. Both reviews list every event with its source.

Do Binance and Kraken require ID verification?

Binance: required; identity verification is mandatory for all users; there is no unverified tier.. Kraken: required; identity verification is required to deposit fiat and trade..

The full reviews: Binance and Kraken, each with its sources, and every exchange we review.

More comparisons

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