Gem Wallet vs Kraken Wallet: 100+ chains or zero swap fees

Gem Wallet is an open-source, self-custodial mobile wallet from Wallet Labs, a company founded in 2023 in Sharjah, United Arab Emirates. Kraken Wallet is the self-custodial wallet of Payward, Inc., operator of the Kraken exchange, and launched in April 2024. Both apps are open source, run on iOS and Android, and need no identity verification.

Network coverage is the first split. Gem supports more than 100 blockchains, including XRP Ledger, TON, Cardano and Starknet, while Kraken Wallet lists 12, among them Ink, Dogecoin and Robinhood Chain. Swap pricing runs the other way. Gem charges 0.5% on standard pairs and 0.25% on stablecoins through its 23-provider aggregator; Kraken adds no platform fee to swaps.

Recovery differs too. Gem relies only on a 12-word seed phrase. Kraken Wallet also offers embedded accounts created with Google or Apple logins and WebAuthn passkeys, so a seed phrase is optional there.

Gem Wallet4.6/5

Kraken Wallet4.1/5

Quick verdict

The deciding difference is breadth against cost. Gem Wallet covers more than 100 networks, has in-app staking and a cross-chain aggregator with 23 routing providers such as THORChain and Chainflip, but takes 0.5% of each standard swap. Kraken Wallet supports 12 chains and adds nothing to swaps.

Choose Gem Wallet if the portfolio includes chains outside Kraken's list, such as XRP Ledger, TON, Cardano, Aptos or Sui. Staking inside the app, manual Gwei fee settings on Ethereum, Base, Arbitrum and BNB Chain, a CertiK audit from April 2026 and fiat on-ramps in more than 170 countries are other reasons. Gem has no desktop client or browser extension.

Choose Kraken Wallet if swap costs matter more than chain count, or if a seed phrase is a barrier: a Google or Apple login with passkeys creates a wallet without one. Kraken exchange customers can move balances through Kraken Connect, and qualifying embedded-wallet transactions on supported EVM chains get sponsored gas, though not every transaction qualifies. A web interface sits alongside the mobile apps. Payward holds a Wyoming SPDI charter and VASP registrations in Ireland, Italy and Spain.

Feature	Gem Wallet Visit	Kraken Wallet Visit
Ratings
Our score	4.6/5	4.1/5
User rating	No reviews yet	No reviews yet
Security	4.5	4.5
Ease of use	4.5	4.5
Chain support	5.0	4.0
Features	4.0	3.5
Privacy	5.0	4.0
Specs
KYC required	No	No
Wallet type	Mobile	Mobile, Web
Custody	Self-custodial	Self-custodial
Chains	Ethereum, Bitcoin, Solana, BNB Chain, Arbitrum, Base, Polygon, Avalanche, Sui, Aptos, TON, Tron, Hyperliquid, Cosmos, Other	Bitcoin, Ethereum, Solana, BNB Chain, Polygon, Base, Arbitrum, Optimism, Other
Platforms	iOS, Android	iOS, Android
Open source	Yes	Yes
In-app swaps	Yes	Yes
Staking	Yes	Not disclosed
NFT support	Yes	Yes
Buy crypto in app	Yes	Yes
Security features	Biometric authentication, 12-word seed phrase backup, Apple Keychain integration, Google Tink encryption	Passkey support, Seed phrase backup, Watch-only wallets, Address book
Recovery without a seed phrase	No	Yes
Passkey login	Not disclosed	Yes
Built-in dApp browser	Yes	Not disclosed
Swap fee	0.5%	0%
Perpetuals trading	Not disclosed	No
Company
Founded	2023	2024
Headquarters	United Arab Emirates	United States
Investors	Not disclosed	SBI Group, Bitcoin Opportunity Fund, Hummingbird Ventures
Strengths and weaknesses
Pros	Fully open-source mobile application audited by CertiK in April 2026 Requires no account creation, email address, or identity verification Supports over 100 distinct blockchains within a single interface Integrated DEX aggregator compares routes across 23 swap providers	No platform surcharge added to in-app token swaps Supports Bitcoin, Solana, and major EVM Layer 2 chains Passkey onboarding allows wallet setup without a seed phrase Gas fees are sponsored on selected embedded EVM transactions
Cons	No desktop client or web browser extension available Swaps carry a 0.5% fee in addition to standard network costs No social recovery alternative for the seed phrase	Gas fee sponsorship is not guaranteed across all transactions Users face smart contract risks when interacting with third-party DEX routers
Best for	Mobile multichain crypto management, Privacy-focused self-custody, Direct cross-chain swaps without exchanges	Kraken exchange users moving to self-custody, Mobile multichain DeFi participants, Traders seeking markup-free token swaps

Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.

FAQ

Is Gem Wallet cheaper than Kraken Wallet for swaps?

Gem Wallet charges 0.5% on standard pairs and 0.25% on stablecoins on top of network fees, while Kraken Wallet adds no platform fee. Kraken also sponsors gas on qualifying embedded-wallet transactions on supported EVM chains.

Which wallet supports more blockchains, Gem Wallet or Kraken Wallet?

Gem Wallet, with more than 100 networks against Kraken Wallet's 12. Gem covers XRP Ledger, TON, Cardano, Sui and Starknet, while Kraken's list includes Ink, Dogecoin, Linea and Robinhood Chain.

Can Gem Wallet or Kraken Wallet be recovered without a seed phrase?

Only Kraken Wallet. It offers embedded accounts through Google or Apple logins paired with WebAuthn passkeys. Gem Wallet uses a 12-word seed phrase as its only backup.

Do Gem Wallet and Kraken Wallet require KYC?

Neither requires identity verification to create a wallet. Both are self-custodial, and Gem Wallet also asks for no email address or phone number.

Has Gem Wallet or Kraken Wallet been audited?

Gem Wallet was audited by CertiK in April 2026. Both wallets publish their source code.

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