Kraken vs ByBit: A detailed comparison for crypto traders

1. Security: Kraken places security above everything, and Kraken-managed custodial wallets have never been breached since its founding in 2011. Bybit was hit by a $1.4 billion hack in 2025.
2. Licensing: Kraken operates legally in major markets such as the US, Canada, UK and the EU. Bybit is restricted in many of these regions.
3. Crypto, futures and stocks: Kraken lists 500+ vetted cryptocurrencies alongside 11,000+ U.S. stocks and ETFs, allowing selected clients to trade traditional and digital assets in one place, with deep liquidity.
4. Trust: Despite higher fees across certain products, clients use Kraken because it offers peace of mind to trade on a highly regulated exchange, with transparent proof of reserves and an exceptional track record. Kraken was also voted the best crypto exchange in 2025 by Forbes.
5. Reliable support: Kraken’s 24/7 multilingual human support is consistently praised for its speed and professionalism, with clients reporting a 90% satisfaction score. 

Crypto exchanges play a pivotal role in the wider ecosystem, performing a number of critical functions:

• Exchanges offer a range of highly liquid spot markets denominated in fiat and crypto, allowing for price discovery and enabling investors to trade in and out of various assets with ease. 
• They also provide investors with a secure on and off-ramp for depositing and withdrawing fiat currencies. 
• Many exchanges offer other ways to speculate on crypto markets using derivatives such as perpetual futures contracts. These are highly liquid and versatile, accounting for a significant portion of overall trading volume globally. 
• Without a range of safe, secure and highly regulated crypto exchanges that operate in various geographical regions, investors would likely be subject to increased operational risks with reduced functionality. 

Therefore, where you decide to do your trading is a critical important decision that every investor must consider carefully. This article will walk you through what sets Kraken and ByBit apart, looking at their products, security, fees, customer support and more.

Founded in 2011 in the United States, Kraken is among the earliest and most established names in the cryptocurrency industry. Launched fewer than two years after Bitcoin’s debut, the exchange has earned global recognition for its strong focus on security and operational transparency. Since its founding, Kraken-managed wallets have never been breached, standing out as one of the few major exchanges never fall victim.

Today, Kraken serves more than 15 million clients in over 190 countries. Its offerings range from the flagship Kraken mobile app for everyday investors, to more advanced trading platforms such as Kraken Pro and Kraken Desktop. 

Headquartered in Wyoming, Kraken underscores its commitment to accountability with routine Proof of Reserves audits; a practice the company pioneered back in 2014. Kraken 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 earned its reputation as a stable, compliant platform that millions of investors trust worldwide.

The institutional suite 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.

Founded in 2018, Bybit has risen quickly to become one of the world’s leading cryptocurrency exchanges. 

Launched with the vision of revolutionizing finance and building a gateway to the broader Web3 ecosystem, ByBit introduced its first BTCUSD inverse perpetual contract just months after launch. By May 2019, the platform was processing around 10% of all Bitcoin trading volume, achieving $4 billion in daily trading volume by 2020.

Over the following years, the platform’s growth accelerated dramatically. By 2021, trading volumes exceeded $70 billion per day, the Crypto Ark initiative expanded its crypto offerings and major partnerships with Oracle Red Bull Racing highlighted and others expanded its global footprint. Bybit continued to innovate in product development, pioneering USDC-settled options contracts and eventually committing to real-time proof-of-reserve audits.

Bybit’s user base soared to over 20 million in 2023 and surpassed 40 million by 2024, cementing its status among the top exchanges by volume. The company also expanded its global presence, launching offices in the UAE and Netherlands, securing licenses under MiCA regulations, and partnering with Mastercard to roll out the Bybit Card.

The short answer: Kraken has a proven security and reliability track record.

Kraken’s stability and compliance standards stand out in an industry where many exchanges rise quickly and fade just as fast. Founded in 2011, it has operated securely for more than a decade without a single hack, setting it apart from competitors like Bybit, which suffered a $1.4 billion breach in 2025. This reflects Kraken’s philosophy of being a security-first organization, while also providing a full suite of crypto services.

Clients value the fact that Kraken operates as a regulated entity in multiple jurisdictions all over the world. Bybit, on the other hand, is blocked or restricted in many countries (notably the US and UK), limiting its accessibility and perhaps creating uncertainty for long-term users.

While Bybit offers aggressive leverage, rapid product rollouts and a vast token list, Kraken takes a more measured approach. It focuses on sustainable infrastructure, carefully vetted listings and proof-of-reserves audits. For clients seeking a dependable, compliance-focused exchange built to last, Kraken offers a level of reassurance and trust unmatched by any other exchange.

Here’s an overview of the most attractive products and features that Kraken has to offer. 

• Trading flexibility: Users can trade via Kraken’s streamlined mobile app or access advanced tools on Kraken Pro, which offers detailed charting, custom order types and real-time market data.
• Spot, margin and futures: Spot trading is available to all users, margin trading offers up to 5× leverage and futures contracts (now available for US clients) provide up to 50× leverage in eligible regions.
• Institutional services: High-net-worth individuals and professional clients can trade through Kraken’s OTC desk and access tailored solutions via Kraken Prime.
• Trade stocks: US clients can now invest in over 11,000+ stocks and ETFs directly in the Kraken app.
• Staking rewards: The platform supports staking for more than 21 assets, with potential rewards up to 17% APY depending on the network. Supported assets include Ethereum (ETH), Solana (SOL) and Cardano (ADA).
• Global payments: Kraken enables fee-free digital payments through its Krak feature, allowing users to send crypto or cash instantly.
• DeFi integration: In 2024, Kraken launched its Ink Layer-2 network, built on Optimism’s SuperChain, establishing a seamless connection between centralized exchange services and popular DeFi protocols.
• AI Integration: Kraken recently acquired Capitalise AI to bring no-code trading automation directly into the platform (enabling you to back-test, simulate and deploy strategies using plain, written English).
• Education: Kraken Learn provides a comprehensive library of resources covering everything from blockchain basics to advanced trading strategies.

Bybit is known for its extensive range of products that cater for all types of traders:

• Multi-market trading: Users have access to spot, perpetual, futures and options markets. Bybit also offers TradFi trading - providing exposure to Forex, CFDs (metal, oil, indices and stocks) and spread trading. 
• Advanced charting and trading: Bybit integrates with TradingView, enabling users to trade directly from charts, using powerful tools, alerts, analytics and Pine Script strategies.
• Automated and strategy tools: Features include DCA bots for dollar-cost averaging strategies, copy trading to follow expert traders and various trading bots to automate actions. It also recently introduced TradeGPT for AI-powered trading. 
• Earn and DeFi offerings: Users can earn via staking, liquidity mining, savings products and Web3 staking options. Bybit also supports NFT-based staking and pooled rewards through its Web3 ecosystem.
• Beginner-friendly access: The platform supports easy fiat onboarding with One-Click Buy, P2P trading and simplified payment methods to quickly buy BTC, ETH and altcoins.
• Educational resources: Bybit Learn offers on-platform guides ranging from KYC onboarding and blockchain basics to advanced trading tutorials.
• Widespread availability: Bybit serves users in more than 241 countries, although it remains restricted in several key regions.

Perhaps the biggest reason why some clients choose Kraken over ByBit is because of accessibility.

Kraken operates in many countries where Bybit is currently restricted. Further, while Bybit offers a comprehensive range of products and features, Kraken similarly provides all the functionality that most traders could need, while continually innovating to ensure the platform remains at the cutting edge of new technology. Simply put, you have all your bases covered at Kraken, with its own unique and intuitive brand that has been battle tested over many years.

‘Kraken is built for serious traders. It offers pro-level features like margin trading, low latency order execution, 24/7 support, and powerful analytics.’

Source: Bitdegre

The markets that an exchange offers is critically important, as investors want to be able to trade everything they like in one place:

Kraken gives users access to more than 450 cryptocurrencies and over 1,200 market pairs, as well as over 300 futures pairs, covering all the major market sectors. Margin trading is available on more than 150 markets with leverage of up to 10×, while futures contracts on leading assets provide leverage up to 50× in supported regions. 

For institutional clients, options products are offered through OTC services. Beyond crypto, Kraken also gives investors access to thousands of stocks, including tokenized equities such as xApple and xTesla. Combined with support for ten major fiat currencies, Kraken delivers one of the most comprehensive and regulated asset ecosystems in the industry.

Supported fiat currencies include:

• USD (US Dollar)
• EUR (Euro)
• CAD (Canadian Dollar)
• AUD (Australian Dollar)
• GBP (Pound Sterling)
• CHF (Swiss Franc)
• JPY (Japanese Yen)
• BRL (Brazilian Real)
• ARS (Argentine Peso)
• MXN (Mexican Pesos)

The exchange also offers strong stablecoin support for 15 assets, including Tether (USDT), USDC and Dai (DAI).

Bybit lists more than 2,000 cryptocurrencies, making it one of the largest spot markets among major exchanges. Its catalog includes leading assets like Bitcoin, Ethereum and Solana, alongside a wide range of altcoins, meme tokens and newer projects. Bybit is often very quick to list new tokens.  

Margin trading is widely supported with flexible leverage, and Bybit is best known for its derivatives offerings, which include perpetual and futures contracts on major assets with leverage up to 100×. The platform also provides USDC-settled options markets for Bitcoin and Ethereum. 

Although Bybit offers a broader selection of cryptocurrencies, Kraken’s curated listings and regulated approach give clients confidence that the assets they trade have been vetted for quality and compliance.

Beyond access to hundreds of leading digital assets and over 1,200 trading pairs, Kraken allows clients to manage their wider financial portfolio on a single platform. Investors can trade stocks and ETFs, explore the latest cryptocurrencies, stake assets or even send money globally at no cost.

With support for ten major fiat currencies and 15 stablecoins, Kraken bridges traditional and decentralized markets, making it an easy choice for those who want to manage everything via one, regulated ecosystem.

‘Kraken offers one of the deepest and most liquid markets available among centralized exchanges.’

Source: Coingecko

Kraken applies a clear, volume-based pricing model designed to accommodate both everyday traders and institutions. On its core spot platform, trading fees begin at 0.25% for makers and 0.40% for takers, but these drop off quickly as your 30-day volume increases.  

Kraken’s perpetual futures fees start at 0.02% for makers and 0.05% for takers, with rates dropping as low as 0% and 0.01% for high-volume traders.

Users who trade through Kraken Pro benefit from significantly lower rates that scale down with higher trading volumes, while those subscribed to Kraken+ for $4.99 a month can reduce fees to zero (capped at $10,000-$20,000 trading volume). While only available to U.S. clients in specific states, Kraken users can also enjoy commission-free trading for stocks and ETFs.

Most deposit methods, whether in fiat or crypto, are free of charge, though certain payment providers or assets may carry small exceptions. Withdrawal costs are fixed, published in advance and shown at checkout. This straightforward approach, combined with a strict no hidden fees policy, allows users to trade with confidence and transparency.

Bybit is known for its own loyalty based fee structure, which can significantly reduce your fees depending on the volume you trade. 

For spot trading, crypto-crypto pairs start with maker and takers fees of 0.1% but drop off quickly once you start to trade more volume. For crypto-fiat pairs, fees start higher at 0.15%, but again scale down quickly depending on your 30D spot volume. 

Bybit’s perpetual and futures start at 0.2% as a maker and 0.055% for takers (with further reductions for VIPs), making them comparable to Kraken and other exchanges offering similar instruments. 

Deposits are generally free across both crypto and fiat channels, though specific payment methods may include third-party charges. Withdrawal fees are fixed by asset and displayed clearly before a transaction is confirmed. 

Kraken’s futures fees are very competitive, largely matching (and slightly improving upon in some areas) those offered by Bybit, when taking into account how the fees taper off with volume traded.

It is, however, more expensive to trade on Kraken’s spot markets as a taker, though clients are afforded the peace of mind offered by using a highly regulated platform, with responsive customer service, connected to reliable payment rails and an exceptional track record. 

Additionally, Kraken’s fees are reinvested back into the platform, ensuring that the highest standards are met where it really matters. 

Cultivated by over a decade of reliable and consistent service (even when other platforms have faltered or failed completely) investors use Kraken because they trust the platform to continue to deliver as it has done for so many years. 

A cryptocurrency exchange cannot have longevity without strong security measures to ensure users can trade their funds safely, without worrying about the numerous attack vectors that platforms face on a daily basis.

Here’s why millions continue to trust Kraken:

• Kraken-managed custodial wallets have never been breached
• The exchange uses layered security features including 2FA, PGP-encrypted email, withdrawal address whitelisting and a master account key.
• Kraken pioneered transparency in 2014 by launching one of the industry’s first Proof of Reserves audits, allowing clients to independently verify that their funds are fully backed by assets held in reserve.
• Kraken is ISO/IEC 27001:2013 certified and has completed a SOC 2 Type 2 audit, demonstrating strong operational and data protection standards.

A public bug bounty program invites researchers to report vulnerabilities and strengthen platform resilience.

Bybit also have several industry-standard measures in place to secure users funds, and successfully weathered the storm of a major breach in 2025:

• Bybit employs robust standard security measures such as two-factor authentication (2FA), hardware-based authentication, encrypted data transmission, strict access controls and real-time monitoring of account activity.
• In February 2025, the platform suffered the largest-known cryptocurrency exchange hack, losing approximately $1.5 billion in Ethereum due to a compromised multisig wallet system. Despite the severity, Bybit restored user funds within 72 hours using emergency liquidity. 
• Since mid-2024, Bybit has been conducting monthly PoR audits in partnership with security firm Hacken. 
• Bybit’s proactive issuance of PoR reports (frequently updated and independently verified) sets a higher standard of user assurance by confirming the platform’s solvency publicly and consistently. 

Kraken has operated since 2011 without a single breach of client funds, backed by rigorous audits, certifications, and a pioneering Proof of Reserves program. By contrast, Bybit suffered a major hack in 2025, raising concerns about future security despite its quick response and recovery efforts. For users who prioritize long-term trust and uncompromised safety, Kraken’s spotless record makes it the clear choice.

"Kraken takes its commitment to security seriously, ranking second on the crypto exchange security review site CER."

Source: Forbes Adviso

Being able to get a timely and helpful response to any issue is critically important to users, particular where personal funds are concerned. 

Kraken has built a strong reputation for professional, responsive support that caters to a global audience. Users can connect with real agents through 24/7 live chat, submit tickets by email, or, in certain cases, speak directly with a representative over the phone.

Its multilingual team covers more than a dozen languages, ensuring effective assistance for clients around the world. Kraken’s service quality has been recognized with industry awards, including Best Use of AI in CX (Europe) at the Customer Centricity World Series. With an emphasis on clarity, empathy and efficiency, Kraken continues to stand out for customer care in the competitive crypto exchange space.

Bybit provides customer service in various languages primarily through 24/7 live chat and a detailed help center, with additional support available via email. Their automated Bybit assistant will help signpost users to useful information before connecting you with a live agent if necessary. 

Bybit has an extensive range of detailed self-service articles to assist users with various issues. Further, Bybit also provides updates on improvements made which were inspired by user feedback, in alignment with their philosophy to “Listen, Care and Improve”.

Kraken clients value the ability to easily connect with real people who not only understand the technical details of crypto but also approach support with empathy and professionalism. 

Around-the-clock availability means users can get help at any time, whether they need reassurance as beginners or step-by-step guidance on advanced account features.

By comparison, Bybit also offers 24/7 live chat and a help center, but some users have experienced poor response times and less personalized assistance. Kraken clients enjoy an award winning customer service with responsive, human-centered support as an essential part of their exchange experience.

‘Kraken is a highly dependable and trustworthy exchange. They are often ranked #1 in terms of both security and customer service by independent auditors.’

Source: Coinburea

Kraken and Bybit both rank among the leading global crypto exchanges, but they cater to different types of traders. Bybit offers one of the largest selections of cryptocurrencies, ultra-high leverage on derivatives, and low-cost trading, which appeals to users chasing variety, and perhaps high-frequency trading. 

Kraken, on the other hand, has built its reputation on security, compliance, and transparency. With a spotless track record of protecting client funds, routine Proof of Reserves audits, regulated access to futures markets, and even stock and ETF trading for U.S. users, Kraken offers a more comprehensive and trusted environment for those who want stability and long-term reliability.

For clients who value regulatory clarity, proven safety, and professional-grade tools, Kraken may be the right choice. For those seeking broad asset exposure and high leverage with fewer restrictions, Bybit may hold more appeal.