Welcome to the world of cryptocurrency. It is an exciting place, full of opportunity. But it can also be confusing. One of the first and most important decisions you will make is choosing a cryptocurrency exchange. This is where you will buy, sell, and trade digital assets. Today, we are looking at two of the biggest names in the industry. This is the Bybit vs Kraken comparison.
Kraken is one of the oldest and most respected exchanges. It is often seen as a pillar of trust and security. It is known for its strong connections to traditional banking and its excellent fiat-to-crypto gateways. Think of it as the established, reliable bank of the crypto world.
Bybit, on the other hand, is the modern powerhouse. It grew incredibly fast to become one of the largest exchanges in the world, especially known for its powerful derivatives trading platform. It is sleek, fast, and packed with innovative features that modern traders love.
So, which one is right for you? Is the old-guard reliability of Kraken the best choice? Or does the high-performance, feature-rich platform of Bybit win? This article will dive deep into every aspect of the Bybit vs Kraken debate. We will compare them on user interface, fees, security, product offerings, and more. Let’s begin.
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At a glance comparison table
Before we dive into the details, let’s look at a simple table summarizing the key differences between these two platforms. This gives you a quick overview of their main strengths and weaknesses.
User interface and ease of use
How an exchange looks and feels is very important. A confusing platform can lead to costly mistakes.
Kraken’s Interface:
Kraken has two platforms. There is the main “Kraken” site, which is very simple. It is designed for beginners to easily buy, sell, or convert crypto. It is clean and not overwhelming. Then, there is “Kraken Pro.” This is their advanced trading platform with charts and order books. The split can be a little confusing for new users. The design of Kraken Pro is functional and reliable, but some traders find it looks a little dated compared to newer platforms.
Bybit’s Interface:
Bybit’s platform feels modern, fast, and unified. Everything is in one place. The dashboard is well-organized, allowing you to quickly find Spot trading, Derivatives, Earn products, and Copy Trading. The trading interface is a favorite among active traders. It is highly customizable, the charts (from TradingView) are smooth, and orders are executed almost instantly. Bybit’s platform feels like a professional trading cockpit. It is designed for speed and efficiency.
Winner: Bybit. While Kraken’s simple interface is good for absolute beginners, Bybit’s unified and modern platform is more powerful. It manages to be accessible while providing professional-grade tools. It is simply a more pleasant and efficient platform to use for active trading.
Trading markets and products
This is where the differences in the Bybit vs Kraken battle become very clear. An exchange is more than just buying Bitcoin. It is about what else you can do with your money.
Spot trading
Spot trading is the simple act of buying a coin. You pay money, you get the coin.
Kraken has a good selection of coins (200+). Its main strength is the number of fiat pairs. You can trade many coins directly against USD, EUR, GBP, AUD, etc. This is very convenient.
Bybit has a massive selection of coins (400+) and is constantly adding more. Bybit is often one of the first exchanges to list new, popular tokens. This gives traders an edge in getting in early on promising projects. While it started as a derivatives platform, its spot market has grown to be one of the largest in the world.
Derivatives trading (The big one)
Derivatives (like futures and perpetual swaps) are contracts that let you bet on the future price of a coin without actually owning it. This is for advanced traders.
Kraken offers futures trading. It is a solid platform, but it is not its main focus. The liquidity (how much is being traded) is lower, and the product range is smaller.
Bybit is an undisputed global leader in derivatives. This is what the platform was built for. It offers:
- Deep Liquidity: You can trade large amounts without the price slipping.
- High Performance: The trading engine can handle millions of trades per second. No lag.
- Wide Selection: A huge number of perpetual contracts, including on smaller altcoins.
- Advanced Tools: Sophisticated order types, high leverage (use with caution!), and portfolio margin.
For anyone serious about trading futures, Bybit is in a different league than Kraken.
Explore more than just trading
With Bybit’s Copy Trading, you can automatically copy the trades of expert traders. It is a perfect way to learn and earn. Or, grow your assets with Bybit Earn, offering high-yield staking and savings products.
Get your bonus with our codes:
Global (non-EU): BYBIT31
EU: BYBIT3K
Earn and other products
What about making money while you are not trading?
Kraken is famous for Staking. Staking is like earning interest on your coins by helping to secure the network. Kraken makes this very easy and offers good rates, especially for Ethereum (ETH).
Bybit offers a much wider suite of products under Bybit Earn. This includes staking, flexible savings, liquidity mining, and more. But its killer features are:
- Copy Trading: As mentioned, this lets you automatically copy the portfolio of successful traders. This is a game-changer for beginners who want to learn from pros.
- Launchpad: This gives you access to brand new tokens *before* they hit the main market. It is a very popular way to find potential 100x gems.
Winner: Bybit. While Kraken is great for simple staking, Bybit offers a complete ecosystem. The inclusion of Copy Trading and Launchpad provides opportunities for growth that Kraken simply does not have. The Bybit vs Kraken product comparison is a clear win for Bybit.
Fees and costs
Fees can eat into your profits. Low fees are critical for active traders. Let’s understand “Maker” vs. “Taker” fees.
What are Maker vs. Taker fees?
A Taker is someone who places an order that gets filled immediately (e.g., a “market order”). You are “taking” liquidity from the market. Taker fees are usually higher.
A Maker is someone who places an order that does not fill immediately (e.g., a “limit order” to buy lower than the current price). You are “making” liquidity, so your order sits on the order book. Maker fees are usually lower, and sometimes even zero!
Kraken’s Fees:
Kraken Pro’s fees are competitive. They start at 0.16% for makers and 0.26% for takers on spot trades. This is good, but the 0.26% taker fee is higher than many competitors.
Bybit’s Fees:
Bybit’s fees are significantly lower, especially for active traders.
- Spot Trading: Bybit’s standard spot fees are around 0.1% for makers and 0.1% for takers. This is already much better than Kraken’s taker fee. Bybit also frequently runs promotions for zero-fee spot trading.
- Derivatives Trading: This is where Bybit really shines. Fees are incredibly low, around 0.01% for makers and 0.06% for takers. These low fees make a massive difference when trading frequently.
Withdrawal Fees:
Both exchanges charge a network fee for withdrawing crypto, which is standard. For *fiat* (cash) deposits and withdrawals, Kraken is the clear winner. It has direct integrations with banks (ACH, SEPA, Wires) that are often free. Bybit relies on third-party partners and P2P, which can have small fees.
Winner: Bybit for traders. If your main goal is to get cash from your bank to an exchange, Kraken is excellent. But if your goal is to trade, Bybit’s much lower maker/taker fees (especially on derivatives) will save you a huge amount of money over time. This Bybit vs Kraken fee comparison is a clear win for Bybit.
Security and reputation
This is the most important section. Your money must be safe.
Kraken’s Security:
Kraken’s reputation is built on security. It is one of the *only* major exchanges that has never been hacked. This is an incredible record since 2011. They are leaders in security, using cold storage, 2FA, and they regularly pass “Proof of Reserves” audits. Proof of Reserves is a way to prove they hold all their customers’ money 1-to-1. Kraken is also heavily regulated and even has a US bank charter.
Bybit’s Security:
Bybit also has an impeccable security record with no major hacks. They also use industry-leading security practices:
- 100% Cold Storage: All client funds are kept in offline wallets that are not connected to the internet.
- Proof of Reserves: Bybit also publishes its Proof of Reserves, showing it holds more than 100% of all client assets.
- Security Fund: Bybit maintains a large insurance fund to protect users in extreme market events.
Bybit is also registered and compliant in many jurisdictions, including having a specific, regulated entity for its European Union users (Bybit EU).
Winner: Tie. Both exchanges are at the absolute top of the industry for security. Kraken has the longer track record, but Bybit’s technology, perfect record, and transparent Proof of Reserves show it is just as safe. You can trust your funds with both.
Trade with confidence
Security is not just a feature, it is a promise. Bybit secures 100% of user assets in offline cold storage and provides a public, verifiable Proof of Reserves. Your funds are safe and accounted for.
Sign up with a platform that prioritizes your security.
Global (non-EU): BYBIT31
EU: BYBIT3K
Customer support
When something goes wrong, you need help fast.
Kraken offers 24/7 support through live chat, email, and phone. Their support is known to be very knowledgeable and helpful.
Bybit also offers 24/7 live chat support in multiple languages. In general, users report that Bybit’s live chat is extremely fast. You often get connected to a real person in under a minute. In the fast-paced world of crypto, this speed is a major advantage.
Winner: Bybit. Both are very good, but Bybit’s speed and accessibility in its live chat support give it a slight edge.
Final verdict: Bybit vs Kraken
So, after this long Bybit vs Kraken analysis, who is the winner? It depends on who you are.
You should choose Kraken if…
- You are a complete beginner and just want to buy Bitcoin or Ethereum and hold it.
- Your number one priority is easy, free deposits from a US or EU bank account.
- You primarily want to stake your coins for simple, reliable returns.
You should choose Bybit if…
- You are an active trader (spot or derivatives).
- You want the lowest possible trading fees.
- You want a modern, fast, and responsive platform.
- You are interested in innovative products like Copy Trading and Launchpad.
- You want to trade the newest, most popular altcoins.
Overall Winner: Bybit
Kraken is a great exchange. It is a reliable on-ramp for your cash. But once your money is in crypto, what’s next? Kraken’s platform is limited.
Bybit is a complete, modern trading ecosystem. It offers more products, more opportunities, a faster platform, and significantly lower trading fees. For anyone who wants to do more than just “buy and hold,” Bybit is the clear and superior choice. The final Bybit vs Kraken decision points to Bybit as the platform for growth and active participation in the crypto market.
Make the smart choice. Join Bybit today!
Your trading journey deserves the best platform. Lower fees, faster trades, and more features are waiting for you.
Sign up now and claim your welcome bonus with our exclusive referral codes:
Global Users (non-EU): Use code BYBIT31 for deposit bonuses and fee rebates.
European Union Users: Use code BYBIT3K on the regulated Bybit EU platform.
Frequently asked questions (FAQ)
1. Is Bybit better than Kraken?
It depends on your needs. For beginners who only want to buy and hold crypto with a bank transfer, Kraken is very good. For active traders, derivatives traders, or users who want features like Copy Trading and lower fees, Bybit is the better choice.
2. Which is safer, Bybit or Kraken?
Both Bybit and Kraken are considered extremely safe. Both have a perfect record with no major user-fund hacks. Both use 100% cold storage for client assets and both provide public Proof of Reserves (PoR) audits.
3. Can I use Bybit in the European Union (EU)?
Yes. Bybit operates a specific, regulated platform for users in the European Union. When you sign up from an EU country, you will be directed to the correct platform. Be sure to use the correct registration link and code for your region.
4. What is the Bybit referral code?
We have two exclusive codes:
- For Global Users (outside the EU), use code BYBIT31 to claim welcome bonuses, deposit rewards, and fee rebates.
- For European Union Users, use code BYBIT3K to claim your welcome rewards on the regulated EU platform.
5. Which exchange has lower fees, Bybit vs Kraken?
For trading, Bybit has significantly lower fees. Bybit’s standard spot taker fee is 0.1%, while Kraken’s is 0.26%. For derivatives, Bybit’s fees (0.06% taker) are also much lower. For fiat deposits, Kraken is often cheaper.
6. Can I buy crypto with EUR or USD on Bybit?
Yes. Bybit has a full-featured P2P (Peer-to-Peer) market, integration with third-party providers, and allows credit/debit card purchases. You have many options to buy crypto with your local currency.
7. Is Kraken good for beginners?
Yes, Kraken’s simple interface is very good for absolute beginners who just want to buy and hold. However, Bybit’s Copy Trading feature is also an excellent tool for beginners who want to get involved in trading by copying experts.
8. What is Copy Trading on Bybit?
Copy Trading is a feature that allows you to select a “Master Trader” on the platform and automatically copy all of their trades in real-time. Your account will buy when they buy and sell when they sell. It is a way to leverage their expertise.
9. Why is Bybit so popular for derivatives?
Bybit is popular for derivatives because of its lightning-fast trading engine (no overloads or lag), deep liquidity (you can trade large amounts easily), and very low fees. It is a platform built from the ground up for professional traders.
10. Why should I choose Bybit over Kraken?
You should choose Bybit if you are an ambitious trader. Kraken is a safe place to park your money, but Bybit is a platform to grow your money. With lower trading fees, a faster platform, and innovative products like Copy Trading and Launchpad, Bybit offers a complete ecosystem for a modern crypto user.
