Before we dive into the detailed analysis, here’s a comparison of Bybit and Kraken that shows the most important information about both platforms at a glance.
Overview of Bybit
Bybit is an exchange founded in 2018 that has historically focused on trading. The global brand claims to have over 80 million users and offers spot trading, derivatives, bots, Earn, a credit card, payment services, and tools for professional traders.
Pros
Global presence and licenses in the UAE, Europe, and other markets
Order book, derivatives, bots, copy trading, and API
Monthly Proof of Reserves with Merkle Verification
Earn flexible and fixed rewards, a card, and numerous fiat payment methods
Cons
Products, fees, and financial institutions vary by country
Not available in the United States, Canada, or mainland China
It suffered the largest hack of an exchange in history in February 2025
Trustpilot has received many complaints about account suspensions and customer support
Global operations are organized through different entities and jurisdictions. A feature available on Bybit Global may not necessarily be available on Bybit EU, so each user must use the entity corresponding to their country of residence. In the EEA, Bybit EU GmbH obtained MiCA authorization from the Austrian FMA in May 2025, while Kraken operates throughout Europe under a single Irish entity.
On the other hand, its spot rate of 0.10 % is considerably more competitive than Kraken’s in the initial range. However, this advantage comes with a steep learning curve: the unified account, the various balances, and the VIP tiers offer flexibility, though they can be confusing for beginners with no prior experience. See the full Bybit review
Who is Bybit for? For users looking for a trading-focused platform who want to combine spot trading, derivatives, bots, copy trading, Earn, and payments. It’s better suited for intermediate or advanced users than for someone who just wants to buy Bitcoin once a month.
Overview of Kraken
Kraken is one of the longest-standing exchanges in the industry. Founded in 2011, when Bitcoin was just beginning to gain traction, it has built its reputation on three pillars: security, transparency, and professional trading tools.
Pros
A long-standing exchange that has been operating since 2011 with no known security breaches
MiCA License Fully Operational in All 30 EEA Countries
More than 500 cryptocurrencies and 1,400 spot trading pairs
Cons
Above-average fees: 0.25% maker and 0.40% taker
Instant purchase with a commission of 1% plus the spread
Kraken Pro has a steep learning curve for beginners
Its ecosystem includes direct trading, spot trading, margin trading, futures, staking, payments, and institutional services. Unlike Bybit, which divides its offerings among multiple regional entities, Kraken operates in Europe under a single entity authorized by the Central Bank of Ireland, making it easy to know who is providing the service at any given time.
Furthermore, while Bybit suffered the largest exchange hack in history in 2025, Kraken has maintained a track record with no known breaches in its custodial wallets since 2011. This track record is particularly important to users who prioritize proven security over paying the lowest possible fees. View full Kraken review
Who is Kraken for? For users looking for a long-established, regulated exchange with tools capable of supporting them from their first purchase through to advanced trading.
Fees and Deposits: Bybit vs. Kraken
Bybit is significantly cheaper than Kraken in its initial tier: 0.10 % maker and 0.10 % taker on its global platform, compared to Kraken Pro’s 0.25 % maker and 0.40 % taker fees. In the EEA, Bybit EU applies a slightly different fee structure, with a 0.25 % taker fee at its entry level. Go to the fee calculator
| Platform | Maker | Taker |
|---|---|---|
Bitget
|
0,10% | 0,10% |
Binance
|
0,10% | 0,10% |
|
Bybit
|
0,10% | 0,10% |
Finst
|
0,15% | 0,15% |
Bitvavo
|
0,15% | 0,25% |
|
Kraken
|
0,25% | 0,40% |
Coinbase Advanced
|
0,40% | 0,60% |
Did you know? A spot purchase of 1,000 USDT on Bybit Global costs 1 USDT whether it is executed as a maker or a taker. The same trade on Kraken Pro costs between 2.50 € and 4 € depending on the role, and up to 10 € plus the spread if done via instant buy.
Deposits and withdrawals
Both platforms offer SEPA for deposits in euros, although with some differences. Kraken typically offers free SEPA deposits with a minimum of 10 €, while Bybit supports additional alternative methods depending on the country: credit cards, Google Pay, Apple Pay, third-party providers, and P2P.
| Concept | Bybit | Kraken |
|---|---|---|
| Spot commission (initial tranche) | 0,10 % / 0,10 % | 0,25 % / 0,40 % |
| Simple / Instant Purchase | Varies depending on the method and provider | 1% plus spread and payment method fees |
| SEPA Deposit | Varies by region | Usually free (minimum €10) |
| Euro Withdrawal | Varies depending on the currency and method | Varies by bank and method |
| Crypto Deposit | 0 €; the network is paid for | 0 €; the network is paid for |
| Crypto Withdrawal | Varies by asset and network | Varies by asset and network |
Ultimately, Bybit offers the lowest spot trading fee in this comparison, but Kraken makes up for that difference with a stronger track record of security and a regulatory framework that is easier for European users to understand.
Who regulates Bybit and Kraken?
Bybit EU GmbH, headquartered in Vienna and registered under number FN 636180i, received its MiCA authorization from the Austrian Financial Markets Authority (FMA) May 28, 2025. In the United Arab Emirates, Bybit also obtained the first full federal license as a Virtual Asset Platform Operator in October 2025, granted by the Securities and Commodities Authority. Kraken, for its part, obtained its MiCA license from the Central Bank of Ireland in June 2025, with a passport valid for all 30 EEA countries starting in August of that year.
Important note: A Proof of Reserves or a MiCA license does not constitute a full financial audit; they confirm assets or compliance as of a specific date or within a specific scope, but they do not eliminate counterparty risk. The official text of the regulations can be found at EUR-Lex, MiCA Regulation (EU) 2023/1114.
| Concept | Bybit | Kraken |
|---|---|---|
| Regulated by | FMA (MiCA, Austria), VARA (UAE), SCA | Central Bank of Ireland (MiCA), FinCEN (U.S.) |
| MiCA Coverage (EU/EEA) | Yes, starting in May 2025 (excluding Malta) | Yes, starting in August 2025 (30 countries) |
| Reservation Test | Yes, monthly with Merkle verification | Yes, semiannual reviews since 2014 |
| Safety Record | Hack of 1,400–1,500 M$ devices in February 2025 | No known security breaches since 2011 |
| Trustpilot | 2.7/5; complaints about crashes and support | 3.3/5; complaints about revisions and removals |
Security track record is likely the factor that most distinguishes these two platforms. Kraken has been operating since 2011 with no known breaches in its custodial wallets and has been publishing proof-of-reserves since 2014. Bybit, on the other hand, suffered the largest exchange hack to date on February 21, 2025—attributed to the Lazarus Group—though it covered the shortfall and kept withdrawals operational throughout the incident.
Where are Bybit and Kraken available?
Bybit serves customers in more than 160 countries, though it excludes the United States, Canada, mainland China, Hong Kong, and Singapore, among other jurisdictions. Kraken, for its part, claims to have over 15 million customers in more than 190 countries, with a particularly strong presence in the United States, Europe, the United Kingdom, Australia, and Canada.
In the EEA, Bybit expressly excludes Malta from its MiCA coverage, while Kraken provides services in all 30 countries without any stated exceptions. Outside Europe, Kraken has a greater stated presence in markets such as the United Kingdom, Australia, Canada, and Bermuda, compared to the broader restrictions that Bybit applies in North America and Asia.
What do Bybit and Kraken offer on their platforms?
Bybit organizes its ecosystem around trading: spot, derivatives, bots, copy trading, Earn, and an API designed for automated strategies. Kraken divides its offerings into the simple app, Kraken Pro for advanced trading, Kraken Desktop, Krak for payments, and xStocks, its tokenized assets linked to U.S. stocks.
| Concept | Bybit | Kraken |
|---|---|---|
| Available Apps | Regional app, website, API, and subaccounts | App, Kraken Pro, Kraken Desktop, Krak |
| Cryptocurrencies | +700 | +752 |
| Main Products | Spot, derivatives, bots, copy trading, Earn | Spot, margin, futures, staking, xStocks |
| Automation | DCA Bot, Copy Trading, and Open API | Recurring Purchases and APIs for Strategies |
| Own Card | Yes, card availability varies by region | Yes, Kraken Card with cashback up to 2% |
| Ideal for | Traders who prioritize commissions and automation | Users who prioritize experience and professional tools |
Final Verdict: Bybit or Kraken?
Bybit and Kraken compete for the same type of advanced user, but from different starting points. Bybit offers the lowest spot fee in this comparison, along with bots, copy trading, and an open API, although its recent history includes the largest hack ever suffered by an exchange. Kraken, with more than a decade of operation and no known security breaches, is more expensive initially, but it makes up for that difference with a very solid reputation for security and a simpler regulatory framework in Europe.
For those who prioritize low fees and automation and aren't concerned about the 2025 security incident, Bybit offers a very competitive option. For users who value track record, regulatory transparency, and professional tools over the cost per trade, Kraken is usually the most reliable choice.
Choose Bybit if…
- ✓ Are you looking for low spot fees: 0.10% for makers and takers globally?
- ✓ Do you want bots, copy trading, and an open API for automation?
- ✓ You already have experience and accept the 2025 security clearance
- ✓ You prioritize cost per transaction over historical performance
Choose Kraken if…
- ✓ You value a track record of more than a decade without any security breaches
- ✓ Do you prefer a single European entity rather than several regional ones?
- ✓ Are you looking for tools such as margin trading, futures, staking, and xStocks?
- ✓ Do you want MiCA coverage in all 30 EEA countries, with no exceptions?
This verdict summarizes the findings regarding fees, regulation, security, and availability. Neither exchange is superior in every respect: the right choice depends on the user’s profile and, above all, on the user’s jurisdiction.
This comparison of Bybit vs. Kraken is based on a hands-on analysis of both platforms. We have evaluated their fees, security, range of cryptocurrencies, available features, and ease of use to provide an objective comparison. The assessment reflects the actual differences between the two exchanges, beyond just first impressions.
(FAQ) Frequently Asked Questions: Bybit vs. Kraken Comparison
