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Moneydance vs Kraken

Moneydance logo

Moneydance

Software

Cross-platform personal finance management

From
On request
Rated
-
Full reviewWebsite
Kraken logo

Kraken

Software

Secure cryptocurrency exchange for serious traders

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Kraken has a free tier, so it costs nothing to try first.
  • Each has a real cost: Moneydance the free trial is limited to 100 manually entered transactions; Kraken restricted in 16 jurisdictions due to compliance requirements
  • They diverge on capability: Moneydance covers Bill tracking, Kraken covers Spot Trading.

Where they differ

Only the attributes on which Moneydance and Kraken actually diverge.

Attributes where Moneydance and Kraken differ
AttributeMoneydanceKraken
Starting priceOn requestFree
Pricing modelone-timefreemium
Free tierNoYes
PlatformsWindows, Mac, Linux, IOS, AndroidWeb, Ios, Android
Founded20012011

Identical on both: 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 Moneydance

  • Bill tracking
  • Investment monitoring
  • Budget tracking
  • Financial forecasting
  • Bank accounts
  • Investment accounts
  • OFX import
  • Windows support

Only in Kraken

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

Both cover

  • Android support

What people use each for

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

Moneydance

  • Desktop personal finance management on macOS, Windows and Linuxnot Kraken
  • Importing and reconciling bank and credit card transactions locallynot Kraken
  • Tracking investments and budgets without a cloud-only servicenot Kraken

Kraken

  • Exchangesnot Moneydance
  • Tradingnot Moneydance
  • Stakingnot Moneydance

Where each one falls short

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

Moneydance

  • The free trial is limited to 100 manually entered transactions
  • A one-time Buy Once purchase covers Moneydance 2024 plus one free upgrade to the next major release, not all future versions
  • Bank connection features are sold separately as the Moneydance Plus subscription rather than included in the one-time purchase
  • Business use requires one licence per computer, while the household licence covers personal use only

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

Moneydance

On request
  • Perpetual License$59.99/month
    • Full feature set
    • Free updates

Kraken

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

Which should you pick?

Choose Moneydance if

  • You need bill tracking.
  • You work on Windows, Mac, Linux, IOS, Android.
  • You also want investment monitoring.
Moneydance review

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

Questions people ask

Is Moneydance or Kraken better?
Neither clearly leads. Moneydance starts at On request and Kraken at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Moneydance or Kraken?
Kraken has a free tier; the other does not. Paid plans start at On request for Moneydance and Free for Kraken.
Does Moneydance or Kraken run on more platforms?
Moneydance runs on Windows, Mac, Linux, IOS, Android. Kraken runs on Web, Ios, Android.
Can I use Kraken for free?
Yes. Kraken has a free tier, so you can try it without paying. Moneydance starts at On request.
What is Moneydance best used for?
Moneydance is most often used for desktop personal finance management on macos, windows and linux, importing and reconciling bank and credit card transactions locally, tracking investments and budgets without a cloud-only service. Of those, desktop personal finance management on macos, windows and linux and importing and reconciling bank and credit card transactions locally are not what Kraken is typically brought in for.
What can Moneydance do that Kraken cannot?
Moneydance covers Bill tracking, Investment monitoring, Budget tracking, Financial forecasting. Kraken covers Spot Trading, Futures Trading, Margin Trading, Staking. 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.

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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