ByBit vs Kraken: Fees, Coins, Safety Comparison
| Feature | ByBit | Kraken |
|---|---|---|
Overall |
4.9 |
4.5 |
3.1 |
4.8 |
|
5.0 |
4.1 |
|
5.0 |
4.5 |
|
Investment Instruments |
5.0 |
3.7 |
Platforms and Charting Tools |
4.9 |
4.5 |
Deposit and Withdrawal |
4.0 |
4.0 |
Research |
4.2 |
4.3 |
Education |
4.1 |
4.2 |
Support |
4.5 |
4.3 |
Bonuses |
5.0 |
2.0 |
|
Your capital is at risk.
|
Your capital is at risk.
|
ByBit vs Kraken: Pros and Cons
The Bybit cryptocurrency exchange first appeared in 2018. It is a standalone derivatives trading platform with inverse and perpetual futures contracts with up to 1:100 leverage. Quarterly USD futures are available at Bybit in combination with BTC, ETH, XRP, EOS, LTC, and multiple tokens. There is a linear futures contract on BTC/USDT. The exchange has several technological advantages: it provides for mutual insurance of market participants against possible sharp price movements. There are offsets for long and short positions, and there is market depth.
The Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.
| ByBit | Kraken | |
|---|---|---|
| Overall Pros | Trading With Leverage up to 1:100 | 2 FA authentication |
| Derivatives, NFT Available | Low minimum deposit | |
| Zero fee spot trading | Passive income with staking | |
| Deposit Fee – 0% | Regulated in several countries | |
| Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | Minimum maker fee $0 | |
| Strong Research | Over 50 indicators and 16 drawing tools | |
| Overall Cons | No tier-1 regulation | NFTs are not available |
| No Fiat Deposit and Withdrawal |
ByBit vs Kraken: Safety and Regulation
| Regulated By: | ByBit | Kraken |
|---|---|---|
Government-regulated |
Yes |
Yes |
U.S Regulated |
No |
Yes |
FCA U.K Regulated |
No |
Yes |
Germany Regulated |
No |
Yes |
AMF in France Regulated |
No |
Yes |
Spain Regulated |
No |
Yes |
DFSA in UAE |
No |
No |
Singapore Regulated |
No |
No |
Australia Regulated |
No |
Yes |
Seychelles Regulated |
Yes |
No |
Other countries |
Austria’s Financial Market Authority (FMA), Georgia, Kazakhstan |
Belgium, Cyprus, Italy, Poland, Netherlands, Canada, Bermuda |
ByBit vs Kraken: Trading Conditions
| Trading Conditions | ByBit | Kraken |
|---|---|---|
Minimum deposit, USD or USDT |
1 |
10 |
Futures leverage |
100 |
50 |
Spot leverage |
10 |
5 |
Supported Coins |
638 |
278 |
Trading platform |
||
DFSA in UAE |
||
P2P |
1 |
0 |
Perpetual contracts |
1 |
1 |
ByBit vs Kraken: Fees
| Fee | ByBit | Kraken |
|---|---|---|
Spot Taker fee |
0,1 |
0,4 |
Spot Maker fee |
0,1 |
0,25 |
Futures Taker fee |
0,055 |
0,05 |
Futures Maker fee |
0,02 |
0,02 |
Deposit fee |
No |
No |
Withdrawal fee |
0,000111 ВТС 0,0015 ETH (ERC20) |
0,0005 BTC |
P2P taker fee |
No |
Not supported |
P2P fee rate, maker fee |
No |
Not supported |
ByBit vs Kraken: Trading Assets
| Asset Name | ByBit | Kraken |
|---|---|---|
Coins Supported |
638 |
278 |
P2P |
Yes |
No |
Perpetual contracts |
Yes |
Yes |
NFT |
Yes |
Yes |
Crypto Options |
Yes |
No |
Futures |
Yes |
Yes |
ByBit or Kraken: Investment Programs
| Asset Name | ByBit | Kraken |
|---|---|---|
Staking |
Yes |
Yes |
Copy trading |
Yes |
Yes |
Yield farming |
No |
Yes |
Affiliate program |
Yes |
Yes |
Trading Platforms: Kraken or ByBit
| ByBit | Kraken | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: Kraken or ByBit
| ByBit | Kraken | |
|---|---|---|
SMS Based 2 FA |
No |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Kraken or ByBit
| ByBit | Kraken | |
|---|---|---|
Indicators |
Yes |
50+ |
Drawing tools |
Yes |
16+ |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Kraken or ByBit
| ByBit | Kraken | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Kraken or ByBit
| ByBit | Kraken | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
ByBit vs Kraken: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ByBit | Kraken |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes |
ByBit vs Kraken: Research
| Research Type | ByBit | Kraken |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
Yes |
No |
ByBit vs Kraken: Education
| Education Type | ByBit | Kraken |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
No |
Yes |
Kraken vs ByBit: Support
| Support Features | ByBit | Kraken |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
Telegram |
No |
ByBit vs Kraken: Crypto Bonuses and Promo
| Promo | ByBit | Kraken |
|---|---|---|
Crypto Bonus |
Complete tasks and get up to $580 |
No |
Affiliate Program |
$20 per invited user, up to $50 deposit bonus |
up to $1000 per refferal |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on Kraken
-
Comment
Kraken offers a wide range of cryptocurrencies and has a solid reputation in the industry, but serious issues with usability, customer support, and reliability detract from its appeal as a crypto exchange option.
-
Comment
I have to say they are scammers. He believed in Kraken, held coins on their crypto exchange. I recently found out that they deducted 50% of the balance from my trading account because I had not logged into my account for a long time. Who does this! And this without warning, of course!
-
Comment
It used to be not bad here, but every year the Kraken exchange dies down, as its turnover falls. Now it cannot be said that this is a large exchange, which it once was ...
-
Comment
I tried different exchanges, eventually settled on Kraken. Here are the best conditions for me. I have my favorite tools, the platform is understandable, I figured it out quickly and so far (for six months) nothing has lagged. The commission is also adequate, often below the market. Analytical materials are generally informative. But I’ll clarify right away: I was initially interested in a broker for active independent trading. There are no investment programs in Kraken, and that suits me. If you want extra income, then this is not your option, don't waste your time. I won’t say anything about beginners: on the one hand, Kraken provides basic training, but you can’t call the support service, except for a ticket or a chat.
-
Comment
I see that many people praise the Kraken exchange for its reliability and comfortable conditions for cooperation. I've been using this platform for about a year, and it's really good here. I would also like to note a high-quality trading terminal, it is simple and at the same time functional, even take profit and stop loss are integrated. The Kraken exchange has many advantages, so I will not list all of them. You will see for yourself if you register. I just want to name the cons such as the lack of telephone communication and investment programs. Also, the exchange favors active traders.
Top 5 Reviews on ByBit
-
Comment
I discovered Bybit through recommendations in trader chats. What first caught my attention was the low minimum deposit — just $1 — so I decided to try trading derivatives. I trade BTC/USDT and ETH/USDT pairs and was pleased with the deep order book and fast execution speed. The leverage goes up to 1:100, which is useful for testing different strategies. After a month of active trading on Bybit, I managed to grow my deposit by 12%. I also liked the mutual loss protection feature — when prices drop sharply, part of the losses is covered. The trading fees are market-standard: not the lowest, but still reasonable.
-
Comment
I signed up to take advantage of up to 1:100 leverage and to assess the order book depth. Orders are executed quickly. Commissions are market-standard, but there are maker bonuses that help reduce costs. Among derivatives, I use EOS/USDT and LINK/USDT. Withdrawals are only available in crypto, but I haven't encountered any issues. There's a single account for all types of futures, which is convenient — no need to switch between accounts.
-
Comment
Bybit is a platform focused specifically on futures and derivatives, while classic crypto trading is limited — mostly USDT pairs. The minimum entry is just $1, and the maximum leverage is 1:100. That’s great, but it requires discipline. I also give a plus for the fact that the BTC/USDT futures contract costs just $1 — perfect for testing strategies without much risk. I don’t use the mobile app; I trade exclusively through the web.
-
Comment
The order system is well thought out. There are both market and conditional orders, plus the market depth through the order book allows you to assess volumes. I trade BTC/USDT and ETH/USDT — everything works smoothly with them. The trading commission is about standard. I top up my account via Visa, and it's convenient that the fiat gateway is supported. I trade futures with a leverage of 1:50 — optimal for risk management.
-
Comment
After using Bybit for crypto, I decided to try Forex trading through MT5. At first, I didn’t fully understand how automatic leverage works, but eventually figured it out - it’s fixed per contract and cannot be changed. It’s good that deposits are free and withdrawals have fixed rates depending on the coin. I haven’t seen any hidden fees or markup. Everything is ECN as stated. Trading via the MT5 mobile version is convenient, but support response times can be slow.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.