Personal Finance · head to head
EveryDollar vs Kraken
Kraken
Personal Finance
Secure cryptocurrency exchange for serious traders
- From
- Free
- Rated
- -
The short version
- Each has a real cost: EveryDollar the free version has no bank connection, so every transaction is entered by hand; Kraken restricted in 16 jurisdictions due to compliance requirements
- They diverge on capability: EveryDollar covers Zero-based budgeting, Kraken covers Spot Trading.
Where they differ
Only the attributes on which EveryDollar and Kraken actually diverge.
| Attribute | EveryDollar | Kraken |
|---|---|---|
| Founded | 2014 | 2011 |
Identical on both: starting price (Free), pricing model (freemium), free tier (Yes), platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance).
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 EveryDollar
- Zero-based budgeting
- Transaction tracking
- Budget planning
- Financial insights
- Bank accounts
- IOS support
Only in Kraken
- Spot Trading
- Futures Trading
- Margin Trading
- Staking
- OTC Desk
- Bank transfers
- SWIFT
- Plaid
Both cover
- Web support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
EveryDollar
- Zero based monthly budgeting using the Ramsey methodnot Kraken
- Tracking bills and sinking funds by categorynot Kraken
- Automatically importing bank transactions into a budget on Premiumnot Kraken
Kraken
- Exchangesnot EveryDollar
- Tradingnot EveryDollar
- Stakingnot EveryDollar
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
EveryDollar
- The free version has no bank connection, so every transaction is entered by hand
- CSV export of budget data is Premium only
- Spending reports and historical comparisons are Premium only
- Premium costs $17.99 per month billed monthly, and the $6.67 headline rate requires paying $79.99 for a year up front
- The free trial lasts 14 days and is limited to new users
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
EveryDollar
Free- FreeFree
- Manual budget entry
- Plus$14.99/month
- Bank sync
- Mobile app
- Transaction tracking
Kraken
Free- StarterFree
- Basic trading
- Staking
- Instant buy
- ProFree
- Advanced trading
- Margin trading
- Futures
Which should you pick?
Choose EveryDollar if
- You need zero-based budgeting.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want transaction tracking.
Choose Kraken if
- You need spot trading.
- You want to start without paying.
- You work on Web, Ios, Android.
- You also want futures trading.
Questions people ask
- Is EveryDollar or Kraken better?
- Neither clearly leads. EveryDollar 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, EveryDollar or Kraken?
- EveryDollar starts at Free and Kraken at Free.
- Does EveryDollar or Kraken run on more platforms?
- EveryDollar runs on Web, IOS, Android. Kraken runs on Web, Ios, Android.
- Can I use EveryDollar for free?
- Both have a free tier, so you can try either at no cost before committing.
- What is EveryDollar best used for?
- EveryDollar is most often used for zero based monthly budgeting using the ramsey method, tracking bills and sinking funds by category, automatically importing bank transactions into a budget on premium. Of those, zero based monthly budgeting using the ramsey method and tracking bills and sinking funds by category are not what Kraken is typically brought in for.
- What can EveryDollar do that Kraken cannot?
- EveryDollar covers Zero-based budgeting, Transaction tracking, Budget planning, Financial insights. Kraken covers Spot Trading, Futures Trading, Margin Trading, Staking. Both handle Web support, Android support.
Answered from the vendors’ own pages
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.
SourceKraken: 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.
SourceKraken: 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.
SourceKraken: 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