Kraken vs SimpleSwap

Kraken3.7/5

VS

SimpleSwap4.1/5

Feature	KrakenVisit	SimpleSwapVisit
Ratings
Our score	3.7/5	4.1/5
User rating	No reviews yet	No reviews yet
Fees	3.0	3.0
Security & trust	4.0	4.0
Asset selection	4.5	5.0
Ease of use	4.0	4.5
Support	3.0	4.0
Specs
Markets	Spot, Futures, Margin, OTC	Spot
Coins listed	600	2,800
Fiat deposit methods	Not disclosed	Card
KYC required	Not disclosed	No
Accepts US customers	Yes	Not disclosed
Staking / earn	Yes	Not disclosed
Mobile app	Yes	Yes
Licenses & registrations	Wyoming SPDI bank charter, SEC broker-dealer registration, SEC investment adviser registration, FinCEN MSB registration, Money Transmitter licenses in 46 US jurisdictions, Canadian Restricted Dealer registration, FINTRAC MSB registration, Bermuda Class F Digital Asset Business license, CySEC Investment Firm license, Central Bank of Ireland EMI license, Central Bank of Ireland MiCA CASP authorizations, FCA cryptoasset registration, AUSTRAC registration, ASIC registration, Japan FSA registration, VASP registrations in Spain, Ireland and Italy	Not disclosed
Security features	API key permissions excluding withdrawals, HMAC-SHA512 authentication, Self-custody wallet	Non-custodial architecture, Direct wallet settlements
Futures & perpetuals	Yes	No
Max leverage (x)	10	Not disclosed
Copy trading	Not disclosed	No
P2P market	Not disclosed	No
Earn / savings products	Yes	Not disclosed
Referral program	Yes	Yes
Company
Founded	2011	2018
Headquarters	United States	—
Investors	SBI Holdings, 2,263 individual investors, Bitcoin Opportunity Fund, Hummingbird Ventures +3	Not disclosed
Strengths and weaknesses
Pros	600+ crypto pairs and 11,000+ stocks and ETFs Derivatives available with up to 10x leverage Regulated entities across the US, UK, EU and other markets REST, WebSocket and FIX 4.4 API access	No account registration required for standard crypto-to-crypto swaps Non-custodial model delivers converted assets directly to personal wallets Extensive catalog covering more than 2,800 cryptocurrencies Choice between fixed guaranteed rates and floating market rates
Cons	Centralized custody exposes balances to withdrawal and counterparty risk Derivatives and margin access vary by jurisdiction and eligibility Kraken is not licensed or regulated in Singapore US equities are limited to eligible US customers and states	Built-in exchange spreads can exceed traditional spot order-book trading fees Transactions flagged by automated AML risk scoring trigger sudden KYC holds No order books, limit orders, futures, or margin trading Fiat purchases rely on third-party processors with separate fees and verification
Best for	Active crypto traders, Institutional trading desks, API-based trading systems	Registration-free crypto-to-crypto swaps, Non-custodial cross-chain transfers, Trading rare altcoins without CEX balances

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