Kraken vs Deribit: How these crypto exchanges compare

When selecting a crypto exchange, finding the platform that is right for your goals and trading style is important, especially as features, risk-profiles, customer support and product depth vary widely across providers.

As a globally-reconized brand, Kraken emphasises full-suite access, regulatory clarity and user-friendly infrastructure. Deribit targets high-performance derivatives trading, deep options and futures markets, and advanced tools.

This article unpacks core differences across product sets, transparency, fees, security and asset availability, to help you decide which exchange best fits your goals.

Founded in 2011 in the United States, Kraken is among the earliest and most established names in the cryptocurrency industry. Launched less than two years after Bitcoin’s debut, the exchange has earned global recognition for its strong focus on security, operational transparency, and a high-quality user experience.

Today, Kraken serves more than 15 million clients in over 190 countries. Its offerings range from the flagship Kraken platform for individual investors, to powerful all-in-one trading platforms for advanced and institutional traders via the Kraken Pro platform and Kraken Desktop app.

Kraken’s institutional suite that covers spot, margin, futures markets, staking, and OTC trading for qualified clients. Kraken also invests heavily in education through Kraken Learn, supporting both new and experienced traders.

Headquartered in Wyoming, Kraken underscores is committed to accountability with routine Proof of Reserves, a practice it introduced to the industry back in 2014. It was also the first crypto exchange to be listed on the Bloomberg Terminal, helping bridge the gap between traditional finance and digital assets.

With regulatory licenses across key markets including the US, Canada, UK, EU and a history of assisting with cases such as Mt. Gox creditor claims, Kraken has built a reputation for stable, compliant operations that make it a trusted destination for those seeking a secure and enduring crypto exchange.

Launched in 2016 by brothers John and Marius Jansen along with Sebastian Smyczynski, Deribit is a crypto exchange purpose-built for derivatives trading, with an exclusive focus on options and futures markets. It was acquired by Coinbase in 2025 in a bid to broaden its trading suite.

Deribit’s narrow scope has enabled it to deliver a leading derivatives venue for professional traders, market makers and institutional players around the globe. It is designed for high-performance trading, offering features like low-latency executions, APIs, and advanced order types to cater to sophisticated strategies.

The exchange stands out due to its deep liquidity and dominance in the crypto options space. It’s often recommended as a go-to venue for executing complex strategies, owing to its advanced tooling and long-term focus on derivatives infrastructure.

While a feature-rich venue for derivatives traders, Deribit may not appeal to casual users or those seeking a wider range of products — spot trading, staking and other common crypto products are notably lacking from the platform. It’s worth also noting that Deribit provides a relatively limited selection of assets on its options and futures markets. As a result, its users must often rely on alternative exchanges to enjoy a comprehensive trading experience, making Deribit a partial solution for trading rather than an all-in-one crypto platform

While Deribit shines for professional derivatives traders, Kraken offers a broader, more accessible platform that caters to investors across multiple experience levels.

Kraken’s global licensing, multi-asset support (including spot trading, futures, staking and traditional securities) and longstanding reputation for top tier transparency and security, make it a strong choice for those seeking dependable infrastructure and regulatory alignment.

If your priority is stable access, diversified assets and long-term trust rather than pure derivatives, Kraken holds the advantage over Deribit’s specialist, high-speed model.

Kraken’s product ecosystem is designed to support a wide range of trading styles and experience levels. Users can trade on the go with its streamlined mobile app or tap into more advanced tools through Kraken Pro, which offers detailed charting, custom order types and real-time market data.

The platform supports spot trading for all users, with margin trading (up to 5x leverage) and futures contracts (up to 50x leverage) available in eligible regions. Institutional and high-net-worth clients can access additional services through Kraken’s OTC desk and Kraken Prime offering.

Beyond trading, Kraken provides crypto staking on over 21 assets, with rewards up to 17% APY depending on the coin and network conditions. Users can earn passively by staking assets like Ethereum (ETH), Solana (SOL) and Cardano (ADA) directly through the platform.

Kraken also supports global digital payments through Krak, a feature enabling users to send crypto or cash without transaction fees.

In 2024, Kraken released its Ink Layer-2 network built on Optimism’s SuperChain, providing a seamless bridge between centralized exchanges and popular DeFi protocols.

For those seeking to deepen their financial knowledge, Kraken Learn offers educational resources covering everything from blockchain basics to advanced trading strategies.

Deribit offers a laser-focused product set centred around derivatives: BTC and ETH futures and options (both inverse and USDC-settled), with high leverage, and a low-latency matching engine designed for advanced traders.

Deribit does not currently offer a non-custodial wallet, meaning as a custodial exchange it holds users' assets. To trade on Deribit, you must deposit funds into a wallet controlled by Deribit or through a third-party custodian it partners with. While Deribit allows users to link external non-custodial wallets for withdrawals, the assets always remain under Deribit's control while on its platform.

The exchange does provide API access through multiple interfaces, including WebSocket, REST, and FIX protocols. Users can create API keys with specific permissions to access market data, manage orders, and perform other trading functions programmatically. Deribit also offers a test environment for API development.

With features like a fast perpetuals engine, micro-second funding, and a variety of order types, Deribit delivers tools designed for serious traders and institutions.

But its narrower focus means essentials like broad spot markets, crypto staking and fiat integrations are not available, suggesting that Deribit is better suited to derivatives-first trading strategies rather than complete retail onboarding.

Deribit’s product suite is deep in the derivatives space, but Kraken’s offering is much wider, more holistic and user friendly.

While Deribit caters to leveraged futures and options specialists, Kraken covers spot trading, futures, staking, and even access to U.S. equities and ETFs.

If you want advanced tools and diversified markets under one compliant infrastructure, Kraken provides more breadth and flexibility than Deribit’s niche-focused derivatives platform.

Clients can access over 600 cryptocurrencies on Kraken, including majors such as Bitcoin (BTC) and XRP (XRP) as well as a variety of altcoins, from memecoins to liquid staking tokens.

There are also more than 11,000 commission-free ETFs and stocks available to trade directly in the Kraken app. And for clients in eligible locations, they can invest in xStocks, which are tokenized versions of these equities.
Kraken supports withdrawals and deposits in ten major fiat currencies, making it quick and convenient for global clients to fund their accounts.

Supported fiat currencies include:

• USD (US Dollar)

• CAD (Canadian Dollar)

• GBP (Pound Sterling)

• EUR (Euro)

• JPY (Japanese Yen)

• AUD (Australian Dollar)

• CHF (Swiss Franc)

• ARS (Argentine Peso)

• MXN (Mexican Peso)

• BRL (Brazilian Real)

There are also 15 stablecoins supported, including Tether (USDT), USDC and USDG.

Deribit is focused predominantly on BTC and ETH derivatives markets. Users must deposit one of these or a supported settlement asset such as the stablecoin USDC to trade.

While the exchange supports major assets like BTC, ETH, PAXG, SOL and USDC for certain contracts, it does not offer a wide spot market listing of thousands of coins in the way Kraken does.

This means Deribit is optimized for targeted derivatives exposure rather than a broad asset variety. Traders looking for niche altcoins, fiat pairs or a full ecosystem might find the asset list limiting compared to wider-scope exchanges.

While Deribit excels in derivatives on BTC and ETH, Kraken offers a much broader asset platform with hundreds of cryptocurrencies, staking on multiple chains, and even access to tokenised stocks and ETFs.

This versatility gives Kraken the advantage for investors looking to diversify beyond derivatives into spot, long-term holdings and portfolios that combine traditional assets with crypto.

Deribit remains focused on its niche derivatives market, but Kraken’s broad range of assets suits users seeking a wider set of tradable instruments.

Kraken’s volume-based fee model is tiered and transparent to support both professional traders and casual investors.

With maker fees starting at 0.25% and taker fees at 0.40% there are also discounts available for high-volume individuals and institutions. With to a Kraken+ subscription, these fees can be eliminated entirely for eligible clients up to certain monthly volumes.

Most crypto and fiat deposits are free, with some exceptions depending on the transaction method and specific asset. Kraken also highlights transparency by displaying all fees before a transaction is confirmed, ensuring clients are well aware any fees upfront and avoid costly surprises.

Deribit uses a maker-taker fee model for its derivatives products, offering competitive rates for liquidity-providing maker orders and clear structure for taker fees. For example, BTC/ETH weekly futures can feature maker fees as low as 0.01% and taker fees around 0.05%.

Spot trading on Deribit is free (0% maker and taker) for supported assets. Delivery and liquidation fees apply in specific cases such as futures at 0.025% or higher, which adds complexity to the cost model. Volume-based discounts are available, with the exchange publishing a tiered fee structure that upgrades automatically as trading volume grows.

While the fee environment is very favorable for pro derivatives users, beginners or spot-only traders should be aware that the model is tailored to high-volume trading rather than simple buy and sell activity.

Deribit’s fee levels are attractive for derivatives traders, yet they are designed around more complex instruments such as futures and assume high volume and leverage.

Kraken’s fee model is simpler and more consistent across spot, margin and futures, with transparent maker/taker rates, no need for native token-holding, and easier cost visibility for all users.

For traders who prioritize predictable and accessible pricing rather than narrow high-volume optimization, Kraken’s fee structure offers a clearer path.

Kraken is widely regarded as one of the most secure crypto platforms in the industry. Since inception, Kraken has never experienced a breach resulting in loss of client funds, a claim that few other exhcanges can make. Clients benefit from multi-layered account protection, including 2FA with passkeys, PGP email encryption, granular API key permissions with range boundaries, configurable account timeout, real-time monitoring for suspicious activity, withdrawal whitelisting and master key settings.

Kraken pioneered Proof of Reserves in 2014 and continues to lead the industry with regular, independently verifiable audits. This cryptographic procedure allows clients to personally review how their account balances are backed by real assets, at any time. Kraken also holds ISO/IEC 27001:2013 certification, SOC 2 Type 2 audit compliance and operates a robust public bug bounty program.

Deribit stores over 90% of assets in cold wallets and keeps only a minimal fraction in hot wallets for withdrawals and trading activity.

The exchange has been awarded certifications such as ISO 27001, SOC 2 Type II and CCSS Level III, underscoring its commitment to institutional security standards.

Additionally, it offers 2-factor authentication, IP locking, and an insurance fund designed to cover extreme volatility or liquidation shortfalls.

While the security architecture is robust, users should note that Deribit’s narrow asset focus and derivatives-heavy model means risk exposures differ from broader spot exchanges.

Deribit implements strong security measures, but Kraken’s security framework remains one of the most rigorous in the crypto industry. Kraken pioneered Proof of Reserves verification, allowing clients to independently confirm that all balances are fully backed, a level of transparency Deribit does not yet provide.

Kraken’s robust compliance and regulatory footprint, covering over 190 jurisdictions, also gives clients confidence that their assets are protected by institutional oversight. In addition, Kraken’s long-standing record of zero major security breaches since its 2011 launch stands as a testament to its operational resilience.

For traders who value verified transparency, compliance, and proven defense against external threats, Kraken remains the safer choice.

Kraken is known for its responsive and professional customer service, offering multiple support channels to meet different user needs. Clients can access 24/7 live chat with real human agents, submit requests via email, or (in select cases) speak directly with a support specialist by phone.

Kraken’s multilingual support team can assist users in over a dozen languages. This helps the company service its global customer base more effectively.

The exchange has also earned high marks in customer satisfaction and was recognized as the Winner of Best Use of AI in CX (Europe) at the Customer Centricity World Series. Its focus on clarity, empathy, and speed in resolving issues continues to distinguish Kraken’s client experience in a competitive space.

Deribit provides a help center with detailed guides on account setup, trading rules, and API integration. Clients can access live chat and email support, typically available 24/7 for urgent trading or technical issues.

The exchange also maintains an active X account and a community-focused Deribit Insights blog to communicate updates and educational materials.

While the documentation is thorough, Deribit’s client-service model is oriented toward professional traders who are already familiar with derivatives platforms, meaning less hand-holding for beginners compared to more retail-focused exchanges.

While Deribit excels in derivatives on BTC and ETH, Kraken offers a much broader asset platform with hundreds of cryptocurrencies, staking on multiple chains, and even access to tokenised stocks and ETFs.

This versatility gives Kraken the advantage for investors looking to diversify beyond derivatives into spot, long-term holdings and portfolios that combine traditional assets with crypto.

Deribit remains focused on its niche derivatives market, but Kraken’s broad range of assets suits users seeking a wider set of tradable instruments.

Kraken and Deribit both cater to serious traders, but their focuses diverge sharply. Deribit is a specialist derivatives exchange, excelling in BTC and ETH options and futures with world-class liquidity and low fees.

Kraken offers a full-spectrum platform, from spot and margin trading to staking and regulated futures, all backed by institutional-grade security and global compliance.

Traders who are focused solely on complex derivatives may prefer Deribit’s streamlined approach. However, for those seeking a more diverse ecosystem, transparent auditing, stronger consumer protection, and a wider range of products, then Kraken remains the more complete and trusted choice.