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Software · head to head

Kraken vs Remitly

Kraken logo

Kraken

Software

Secure cryptocurrency exchange for serious traders

From
Free
Rated
-
Full reviewWebsite
Remitly logo

Remitly

Software

Send money faster to loved ones abroad

From
On request
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; Remitly no fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
  • They diverge on capability: Kraken covers Spot Trading, Remitly covers International remittances.

Where they differ

Only the attributes on which Kraken and Remitly actually diverge.

Attributes where Kraken and Remitly differ
AttributeKrakenRemitly
Starting priceFreeOn request
Pricing modelfreemiumtransaction
Free tierYesNo

Identical on both: platforms (Web, Ios, Android), user rating (Not yet rated), category (Unknown), founded (2011).

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 Remitly

  • International remittances
  • Multiple delivery methods
  • Send money to 200+ countries
  • Currency conversion
  • Bank accounts
  • IOS support

Both cover

  • Web support
  • Android support

What people use each for

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

Kraken

  • Exchangesnot Remitly
  • Tradingnot Remitly
  • Stakingnot Remitly

Remitly

  • Sending cross border remittances from a phone or browsernot Kraken
  • Delivering funds to bank accounts, cash pickup and mobile wallets abroadnot 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

Remitly

  • No fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
  • The Express and Economy delivery options have no published price difference

Pricing, plan by plan

Kraken

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

Remitly

On request
  • Express$undefined/month
    • Fast transfers
    • Multiple delivery methods
  • Economy$undefined/month
    • Lower cost option
    • 3-4 day delivery

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 Remitly if

  • You need international remittances.
  • You work on Web, IOS, Android.
  • You also want multiple delivery methods.
Remitly review

Questions people ask

Is Kraken or Remitly better?
Neither clearly leads. Kraken starts at Free and Remitly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Kraken or Remitly?
Kraken has a free tier; the other does not. Paid plans start at Free for Kraken and On request for Remitly.
Does Kraken or Remitly run on more platforms?
Kraken runs on Web, Ios, Android. Remitly runs on Web, IOS, Android.
Can I use Kraken for free?
Yes. Kraken has a free tier, so you can try it without paying. Remitly starts at On request.
What is Kraken best used for?
Kraken is most often used for exchanges, trading, staking. Of those, exchanges and trading are not what Remitly is typically brought in for.
What can Kraken do that Remitly cannot?
Kraken covers Spot Trading, Futures Trading, Margin Trading, Staking. Remitly covers International remittances, Multiple delivery methods, Send money to 200+ countries, Currency conversion. 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.

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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