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Bybit vs Kraken

Bybit logo

Bybit

Software

Where crypto traders come to win

From
Free
Rated
-
Full reviewWebsite
Kraken logo

Kraken

Software

Secure cryptocurrency exchange for serious traders

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Bybit unavailable in US, Canada, and UK due to regulatory restrictions; Kraken restricted in 16 jurisdictions due to compliance requirements
  • They diverge on capability: Bybit covers Perpetual Contracts, Kraken covers Margin Trading.

Where they differ

Only the attributes on which Bybit and Kraken actually diverge.

Attributes where Bybit and Kraken differ
AttributeBybitKraken
Pricing modelUnknownfreemium
PlatformsWeb, iOS, Android, DesktopWeb, Ios, Android
Founded20182011

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Bybit

  • Perpetual Contracts
  • Copy Trading
  • Launchpad
  • Bybit Wallet
  • Bybit Card

Only in Kraken

  • Margin Trading
  • Staking
  • OTC Desk
  • Bank transfers
  • SWIFT
  • Plaid

Both cover

  • Futures Trading
  • Spot Trading
  • Web support
  • Ios support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Bybit

  • Exchanges
  • Derivativesnot Kraken
  • Futuresnot Kraken

Kraken

  • Exchanges
  • Tradingnot Bybit
  • Stakingnot Bybit

Both are used for exchanges, on those jobs the choice comes down to price and fit rather than capability.

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Bybit

  • Unavailable in US, Canada, and UK due to regulatory restrictions
  • Limited fiat currency deposit and withdrawal options compared to other major exchanges
  • Smaller selection of altcoins compared to Binance

Kraken

  • Restricted in 16 jurisdictions due to compliance requirements
  • Withdrawal processing delays due to KYC verification, blockchain confirmations, and compliance checks
  • Account restrictions triggered by scam prevention can only be lifted after 90 days
  • Margin trading limited to 5x leverage on most assets; 10x available only to eligible users

Pricing, plan by plan

Bybit

Free
  • Spot Trading$0.1/percent maker/taker
    • 0.1% base fee
  • Futures Trading$0.02/percent maker
    • 0.02% maker / 0.055% taker

Kraken

Free
  • StarterFree
    • Basic trading
    • Staking
    • Instant buy
  • ProFree
    • Advanced trading
    • Margin trading
    • Futures

Which should you pick?

Choose Bybit if

  • You need perpetual contracts.
  • You want to start without paying.
  • You work on Web, iOS, Android, Desktop.
  • You also want copy trading.
Bybit review

Choose Kraken if

  • You need margin trading.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want staking.
Kraken review

Questions people ask

Is Bybit or Kraken better?
Neither clearly leads. Bybit starts at Free and Kraken at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Bybit or Kraken?
Bybit starts at Free and Kraken at Free.
Does Bybit or Kraken run on more platforms?
Bybit runs on Web, iOS, Android, Desktop. Kraken runs on Web, Ios, Android.
Can I use Bybit for free?
Both have a free tier, so you can try either at no cost before committing.
What is Bybit best used for?
Bybit is most often used for exchanges, derivatives, futures. Of those, derivatives and futures are not what Kraken is typically brought in for.
What can Bybit do that Kraken cannot?
Bybit covers Perpetual Contracts, Copy Trading, Launchpad, Bybit Wallet. Kraken covers Margin Trading, Staking, OTC Desk, Bank transfers. Both handle Futures Trading, Spot Trading, Web support, Ios support.

Answered from the vendors’ own pages

Bybit: What trading products does Bybit offer?

Bybit offers spot trading, perpetual contracts (up to 125x leverage), futures with daily/monthly/quarterly contracts, and options on BTC, ETH, and SOL settled in USDC.

Source
Kraken: How much does Kraken charge in fees?

Kraken Pro spot trading fees start at 0.25 percent maker and 0.40 percent taker for entry-level volume, decreasing to 0.00 percent maker and 0.08-0.10 percent taker at USD 10M+ monthly volume. The Kraken standard platform charges 1 percent on instant trades and 1.5 percent on custom orders. Kraken+ membership costs 4.99 USD/month or 49.99 USD/year for up to USD 10k/month in fee-free volume.

Source
Bybit: What are Bybit's trading fees?

Spot trading fees start at 0.1% for both maker and taker. Futures fees are typically 0.02% maker and 0.055% taker, with discounts available for VIP tiers based on trading volume.

Source
Kraken: In how many countries can I use Kraken?

Kraken supports 190+ countries and 9 major fiat currencies (USD, EUR, GBP). However, services are restricted in 16 jurisdictions including Russia, Iran, North Korea, Syria, and Afghanistan due to regulatory compliance requirements.

Source
Bybit: Where can I withdraw fiat from Bybit?

Bybit has limited fiat withdrawal options and is not available in the US, Canada, or the UK due to crypto regulations. Fiat withdrawals depend on your country of residence and banking partners.

Source
Kraken: Is Kraken custody secure?

Kraken holds ISO/IEC 27001:2022 certification and passed SOC 2 Type 1 examination. The exchange uses cold storage with crypto infrastructure in secure cages under 24/7 armed surveillance. Kraken Custody uses multiparty computation (MPC) and hardware security module (HSM) technology. As a Wyoming SPDI-chartered institution, Kraken Financial operates on full-reserve basis, holding 100 percent of client deposits in unencumbered liquid assets.

Source
Bybit: Does Bybit support mobile trading?

Yes, Bybit offers a mobile app for iOS and Android with access to all trading features including spot, derivatives, and advanced order types.

Source
Kraken: What cryptocurrencies can I trade?

Kraken supports 500+ cryptocurrencies across 600+ crypto trading pairs. The platform also offers tokenized equities (xStocks) for direct trading of stock exposure, and supports staking rewards on eligible digital assets.

Source
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