Kraken vs Upbit: How these crypto exchanges compare

Crypto platforms play a crucial role in the industry's wider ecosystem, acting as a key entry point for many users. Exchange often differ across products such as spot, futures, margin and tokenized assets, as well as other categories like fees, asset availability, security and customer support.

It’s vital to consider all these variables alongside your investment goals before deciding where to start your trading journey. Kraken is a global brand that is well-respected with an excellent track record of security and customer-first operations. Upbit primarily focuses on the South Korean market with deep KRW liquidity and strong compliance with local regulations.

This comparison article explores Kraken vs. Upbit, breaking down how they differ in key areas, to help you decide which platform is most suitable for you and your investment needs.

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.

Founded in 2017 in Seoul and operated by fintech company Dunamu, Upbit is South Korea’s dominant cryptocurrency exchange. It rapidly expanded its presence in the domestic market, later opening its services to users in Singapore, Indonesia and Thailand.

Upbit is primarily focused on delivering a spot trading experience — where it supports 300+ digital assets across major chains. Its popularity can be partly attributed to its KRW deposit/withdrawal functionality, greatly lowering the barrier to entry for those in its target market. Complementing its spot trading venue are staking services, custody solutions and earning products.

Its status as the ‘default’ South Korean exchange is cemented by its regulatory alignment (the exchange is fully compliant with the country’s frameworks), accessibility and deep KRW liquidity.

However, it lacks the tools of competitors that cater to more advanced traders: namely, derivatives, margin products and high-leverage options. On the global stage, it is also fairly restricted, as it only offers its services in a small selection of countries.

For those in supported regions, Upbit remains a viable choice for users that want to trade spot crypto markets or engage with a simplified product suite.

If you prioritize an exchange with global reach, expansive product access and regulatory consistency, Kraken offers more options than Upbit’s regional-first model.

Kraken is licensed in over 190 jurisdictions, offering spot, futures, staking and equities access, and is well positioned to serve both retail and institutional clients.

By contrast, Upbit remains strongest in the South-Korea/APAC region, focusing on spot trading and local fiat rails.

For traders whose strategy demands worldwide flexibility and deep product layers, Kraken holds a clear advantage.

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.

Upbit caters primarily to users focused on efficient access to spot trading and local fiat markets in South Korea and Southeast Asia.

The platform offers trading on 150+ cryptocurrencies, more than 200 markets, and supports spot pairs against KRW, BTC and USDT. Upbit provides staking for ETH, SOL, ADA, DOT, ATOM and POLY, meaning users can earn passive income from their dormant crypto holdings.

Upbit offers API access for auto trading, meaning developers and AI agents can use the Upbit API to manage accounts, execute trades, and access real time market data programmatically.

While Upbit also provides institutional services through regional affiliates, derivatives or global stock/ETF access are not main features, making the platform more tailored toward regional spot traders than advanced multi-asset clients.

Upbit offers efficient spot trading and seamless fiat access in the Korean market, but Kraken’s product ecosystem is far more expansive.

Kraken combines deep spot markets with futures, staking, institutional features and access to traditional assets such as ETFs — all within one unified platform.

If your strategy goes beyond spot trading, global markets or diversification into equities and crypto simultaneously, Kraken presents a much more flexible and future-ready product suite than Upbit’s region-centric offering.

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.

Upbit supports a narrow set of cryptocurrencies and trading pairs within its regional focus. The platform lists approximately 180 tokens and more than 300 trading pairs, especially within its Korean-won (KRW), Bitcoin (BTC) and Tether (USDT) markets.

Its offering is more regionally oriented and lacks the very wide altcoin and derivatives exposure seen on global multi-product exchanges. The regional fiat rails (KRW) and localized regulatory framework define Upbit’s asset-exposure strategy more than expansion into every global market segment.

Upbit performs strongly within its regional domain, offering a solid selection of tokens and fiat pairs in the Korean market.

However, Kraken’s asset scope goes far beyond spot crypto, offering hundreds of cryptocurrencies, as well as staking, derivatives and access to tokenised stocks and ETFs in certain markets and countries.

For users seeking deeper diversification, global access and a multi-asset setup, Kraken’s broad asset platform provides a more expansive and cross-market solution compared to Upbit’s location-focused listing and product approach.

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.

Upbit employs a straightforward fee structure that differs by market type. For KRW-based pairs, trading fees are typically as low as 0.05% for both makers and takers in certain cases, and around 0.20%–0.25% for crypto-to-crypto or USDT pairs.

Withdrawal fees are charged per asset and network, for example, BTC withdrawals cost ~0.0005 BTC.

While this model offers predictability, especially for spot traders, Upbit’s fee discounts do not appear to scale dramatically based on volume or token holdings, which may make it less compelling for high-frequency or highly leveraged traders seeking ultra-low costs.

Even though Upbit’s fee structure is simple and competitive at the spot level, Kraken offers broader value for traders who operate across a number of product types and geographies.

Kraken’s published maker-taker fees, which cover spot, futures, margin and other products across multiple jurisdictions, offer clearer cost visibility and are not tied to local fiat segments.

For clients trading globally or across product types, Kraken’s unified cost framework and larger operational scale may provide better long-term transparency than Upbit’s more regional and spot-only fee model.

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.

Upbit emphasises security and regulatory compliance as part of its regional market leadership. Its security credentials include certifications such as ISMS-P and ISO/IEC standards for information security management, a high trust-score ranking, and AI-powered fraud detection systems.

The exchange also uses standard safeguards such as two-factor authentication (2FA), withdrawal whitelisting, and maintains segregated fiat and crypto custody protocols.

While it has experienced past security incidents (notably a 2019 hot-wallet breach), Upbit responded swiftly with improved processes and asset protection mechanisms.

Although Upbit’s security is credible and rooted in strong regional compliance, Kraken offers a higher bar of global security assurance.

Kraken pioneered Proof of Reserves audits, holds broad regulatory licences in multiple jurisdictions, and has maintained a clean track record of major custodial breaches since its inception.

For traders who prioritize global compliance, institutional-grade protection and cross-border asset security, Kraken’s infrastructure presents a more comprehensive approach than Upbit’s regionally concentrated model.

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.

Upbit provides customer support primarily through its Help Center, email channels, and in-app ticket submissions. The exchange offers 24/7 Korean-language support, and its Help Center includes detailed guides covering account setup, verification, deposits, withdrawals, and trading.

While Upbit’s customer support is reliable for its local audience, it remains regionally focused, with limited multilingual coverage or direct live-chat options for international users.

The platform’s communication channels, including its official X/Twitter and Telegram announcements, are mostly aimed at Korean traders. This makes Upbit well-suited for domestic clients but far less accessible for global users seeking personalized or multilingual services.

Upbit performs strongly within its regional domain, offering a solid selection of tokens and fiat pairs in the Korean market.

However, Kraken’s asset scope goes far beyond spot crypto, offering hundreds of cryptocurrencies, as well as staking, derivatives and access to tokenised stocks and ETFs in certain markets and countries.

For users seeking deeper diversification, global access and a multi-asset setup, Kraken’s broad asset platform provides a more expansive and cross-market solution compared to Upbit’s location-focused listing and product approach.

Kraken and Upbit share a reputation for reliability, but their strengths cater to different types of traders. Upbit excels in regional liquidity, local fiat access (KRW), and straightforward spot trading, making it the go-to choice for South Korean users.

Kraken, on the other hand, provides a global, full-service ecosystem with spot, staking, futures, and institutional offerings supported by unmatched transparency and security.

If your focus is seamless KRW access and fast domestic settlement, Upbit fits that need well. But for users seeking international coverage, Proof of Reserves transparency, and a wider range of regulated trading products, Kraken stands out as the more versatile and trusted platform.