Personal Finance · head to head
Kraken vs Google Pay
Kraken
Personal Finance
Secure cryptocurrency exchange for serious traders
- From
- Free
- Rated
- -
The short version
- Each has a real cost: Kraken restricted in 16 jurisdictions due to compliance requirements; Google Pay limited to Android devices and Chrome browser; lacks native support for iOS devices
- They diverge on capability: Kraken covers Spot Trading, Google Pay covers Digital wallet.
Where they differ
Only the attributes on which Kraken and Google Pay actually diverge.
| Attribute | Kraken | Google Pay |
|---|---|---|
| Pricing model | freemium | free |
| Platforms | Web, Ios, Android | Android, Chrome browser |
| Founded | 2011 | 2015 |
Identical on both: starting price (Free), free tier (Yes), 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 Kraken
- Spot Trading
- Futures Trading
- Margin Trading
- Staking
- OTC Desk
- Bank transfers
- SWIFT
- Plaid
Only in Google Pay
- Digital wallet
- Contactless payments
- Online shopping
- P2P money transfers
- Credit cards
- Debit cards
- Bank accounts
- IOS support
Both cover
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Kraken
- Exchangesnot Google Pay
- Tradingnot Google Pay
- Stakingnot Google Pay
Google Pay
- Android users making contactless payments at supported retailersnot Kraken
- Chrome browser users utilising payment autofill at checkoutnot Kraken
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
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
Google Pay
- Limited to Android devices and Chrome browser; lacks native support for iOS devices
- International money transfer through third-party provider (Wise Inc.) with limited details on coverage
Pricing, plan by plan
Kraken
Free- StarterFree
- Basic trading
- Staking
- Instant buy
- ProFree
- Advanced trading
- Margin trading
- Futures
Google Pay
FreeNo published plan breakdown. See the Google Pay review.
Which should you pick?
Choose Kraken if
- You need spot trading.
- You want to start without paying.
- You work on Web, Ios, Android.
- You also want futures trading.
Choose Google Pay if
- You need digital wallet.
- You want to start without paying.
- You work on Android, Chrome browser.
- You also want contactless payments.
Questions people ask
- Is Kraken or Google Pay better?
- Neither clearly leads. Kraken starts at Free and Google Pay at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Kraken or Google Pay?
- Kraken starts at Free and Google Pay at Free.
- Does Kraken or Google Pay run on more platforms?
- Kraken runs on Web, Ios, Android. Google Pay runs on Android, Chrome browser.
- Can I use Kraken for free?
- Both have a free tier, so you can try either at no cost before committing.
- What is Kraken best used for?
- Kraken is most often used for exchanges, trading, staking. Of those, exchanges and trading are not what Google Pay is typically brought in for.
- What can Kraken do that Google Pay cannot?
- Kraken covers Spot Trading, Futures Trading, Margin Trading, Staking. Google Pay covers Digital wallet, Contactless payments, Online shopping, P2P money transfers. Both handle 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