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Personal Finance · head to head

Kraken vs QuickBooks

Kraken logo

Kraken

Personal Finance

Secure cryptocurrency exchange for serious traders

From
Free
Rated
-
Full reviewWebsite
QuickBooks logo

QuickBooks

Accounting

Smart, simple online accounting software for small business

From
$30/month
Rated
-
Full reviewWebsite

The short version

  • Only Kraken has a free tier, so it costs nothing to try first.
  • Each has a real cost: Kraken restricted in 16 jurisdictions due to compliance requirements; QuickBooks chart of Accounts is capped on every QuickBooks Online tier except Advanced; Simple Start, Essentials and Plus all have a limited entry count
  • They diverge on capability: Kraken covers Spot Trading, QuickBooks covers Income & expense tracking.

Where they differ

Only the attributes on which Kraken and QuickBooks actually diverge.

Attributes where Kraken and QuickBooks differ
AttributeKrakenQuickBooks
Starting priceFree$30/month
Pricing modelfreemiumsubscription
Free tierYesNo
PlatformsWeb, Ios, AndroidWeb, Ios, Android, Api
CategoryPersonal FinanceAccounting
Founded20111983

Identical on both: user rating (Not yet rated).

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 QuickBooks

  • Income & expense tracking
  • Invoicing
  • Payment processing
  • Financial reporting
  • Tax preparation
  • Bank reconciliation
  • Bill management
  • Mobile apps

What people use each for

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

Kraken

  • Exchangesnot QuickBooks
  • Tradingnot QuickBooks
  • Stakingnot QuickBooks

QuickBooks

  • Bookkeepingnot Kraken
  • Invoicingnot Kraken
  • Expense trackingnot Kraken
  • Financial reportingnot Kraken
  • Tax preparationnot 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

QuickBooks

  • Chart of Accounts is capped on every QuickBooks Online tier except Advanced; Simple Start, Essentials and Plus all have a limited entry count
  • Even the top Advanced tier caps bulk invoice uploads at 1,000 transaction lines per batch
  • Payroll is a separate paid add-on billed per employee per month (USD 6 to 10 depending on plan) on top of the base subscription

Pricing, plan by plan

Kraken

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

QuickBooks

$30/month
  • Simple Start$30/month
    • Income & expense tracking
    • Invoice & payments
    • Tax deductions
  • Essentials$60/month
    • Everything in Simple Start
    • Bill management
    • Time tracking
  • Plus$90/month
    • Everything in Essentials
    • Inventory tracking
    • Project profitability
  • Advanced$200/month
    • Everything in Plus
    • Dedicated account team
    • 25 users

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.
Kraken review

Choose QuickBooks if

  • You need income & expense tracking.
  • You work on Web, Ios, Android, Api.
  • You also want invoicing.
QuickBooks review

Questions people ask

Is Kraken or QuickBooks better?
Neither clearly leads. Kraken starts at Free and QuickBooks at $30/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Kraken or QuickBooks?
Kraken has a free tier; the other does not. Paid plans start at Free for Kraken and $30/month for QuickBooks.
Does Kraken or QuickBooks run on more platforms?
Kraken runs on Web, Ios, Android. QuickBooks runs on Web, Ios, Android, Api.
Can I use Kraken for free?
Yes. Kraken has a free tier, so you can try it without paying. QuickBooks starts at $30/month.
What is Kraken best used for?
Kraken is most often used for exchanges, trading, staking. Of those, exchanges and trading are not what QuickBooks is typically brought in for.
What can Kraken do that QuickBooks cannot?
Kraken covers Spot Trading, Futures Trading, Margin Trading, Staking. QuickBooks covers Income & expense tracking, Invoicing, Payment processing, Financial reporting.

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.

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
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
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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