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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Kraken vs OKX in comparison
Overview
Kraken is a cryptocurrency exchange that was established in 2011 and is operated by Payward, Inc., a Delaware corporation. It holds licenses or registrations in the US, the EU, the UK, Canada, and Australia, with MiCA authorization in the EU through the Central Bank of Ireland. The exchange's Wyoming bank, Kraken Financial, was granted its charter in 2020.
- Licensed or registered in the US, the EU, the UK, Canada, and Australia
- Proof of reserves from 100.3% to 102.9% for BTC, ETH, SOL, XRP, and ADA (30 June 2026)
- Kraken Pro fees decrease with 30-day volume or balance, to 0% maker
- Free ACH and SEPA deposits starting at 1 USD or 1 EUR
- Staking, stocks, and some transfers vary by US state
- No insurance on crypto holdings
- Entry tier 0.40% maker and 0.80% taker. App instant buys 1% plus spread
- Debit card deposits cost $0.25 plus 3.75%
- Entry-tier spot fees on OKX US of 0.20% maker and 0.35% taker, below Kraken Pro and Coinbase Advanced
- A proof-of-reserves report every month
- 304 crypto assets across OKX's platforms
- MiCA authorization in the EEA, with futures and options there
- US entry-tier fees of 0.20% and 0.35%, against 0.08% and 0.10% on the global site and in the EEA
- Guilty plea of the global operator in the US in 2025 for an unlicensed money transmitting business
- No FDIC or SIPC protection for balances at OKX US
- Money deposited by ACH can be held from withdrawal for up to 10 business days or longer
Features Comparison
- Cryptocurrencies
- Derivatives
- Cryptocurrencies
0.8
%
0.80%
0.40%
Varies
0.35
%
0.35%
0.20%
Varies
629
+
$
1
304
+
$
1
- Discount on fees
- Access to token sales
- Faster support
Exchange Rating
Functions
- Margin trading with up to 10x leverage
- Copy trading
- Spot, futures, margin, and leveraged ETF trading
- Lending
- Features for professional traders
- Staking
- Launchpad
Company Details
Our Review
Kraken suits traders in most US states, the EU, the UK, Canada, and Australia who seek a long-running, licensed exchange with order-book trading and proof of reserves. Kraken Pro begins at 0.40% for makers and 0.80% for takers, with fees decreasing as trading volume increases, while instant buys in the app incur a cost of 1% plus a spread. In our view, Coinbase may be preferable for new users.
Kraken vs OKX: Fees, Coins and US Access
In our view, OKX is the stronger pick for active traders seeking low spot fees and a broad range of derivatives options, and it has the higher overall rating on Exchange Flow. Kraken suits those who want a larger coin list and, in the US, more than just spot trading, as Kraken offers eligible US clients margin and futures, whereas OKX US operates a spot platform. Both platforms serve most US states through their US companies, and neither accepts residents of New York.
Fees depend on where you live
OKX applies varying fees based on the specific OKX entity serving you. Within the European Economic Area, OKX Europe charges regular users 0.08% as maker fees and 0.10% as taker fees on spot trades. US residents trade with OKX US, where the fee schedule begins at 0.20% for makers and 0.35% for takers. Meanwhile, Kraken Pro starts at 0.40% maker and 0.80% taker fees, making OKX the more affordable option at the entry level in both regions. As your 30-day volume or asset holdings with Kraken increase, their rates decline. Similarly, OKX US offers reduced rates from $100,001 in assets or volume.
For futures trading, both platforms initiate at 0.02% maker and 0.05% taker fees, applicable on OKX in the EEA and on Kraken's international futures platform.
Who can sign up
OKX operates for US residents through OKX US, managed by OKX INC., a Delaware company with its own terms and fee schedule. It does not service residents from New York, American Samoa, Guam, the Northern Mariana Islands, or the US Virgin Islands. In Massachusetts, withdrawals must be directed to wallets located in the United States. The US fee schedule covers only spot trading, while On-chain Earn staking is unavailable in California, Maryland, New Jersey, or Wisconsin.
Kraken does not serve residents of New York or Maine, leaving OKX US as the alternative for Maine residents. In regions where Kraken operates, US clients access Kraken Pro for spot trading, eligible users may trade on margin, and futures are available through Kraken Derivatives US, a CFTC-registered futures commission merchant. Kraken's on-chain staking is restricted to states listed by them.
Coins and products
Kraken offers a broader coin selection, with more than 600 crypto assets in its public market data. OKX's spot market supports fewer coins across all its regions. Outside the US, OKX provides more features in one account, including expiry futures, options in the EEA, and perpetual swaps with up to 100x leverage on its global platform. Kraken Pro allows spot margin with up to 10x leverage, and for eligible clients outside the US, futures with up to 100x on BTC and ETH.
Security and regulation
Both platforms release proof of reserves. OKX's latest monthly report, verified with zk-STARK proofs, indicated a 109% reserve ratio for BTC. Kraken's recent snapshot, attested by The Network Firm LLP, showed 102.9% for BTC. Neither platform insures crypto balances. In the EU, OKX Europe holds a MiCA license from Malta's MFSA, while Kraken is MiCA authorized via the Central Bank of Ireland.
Both companies have a regulatory history to consider. In February 2025, Aux Cayes FinTech, the Seychelles-based operator of OKX's global platform, pleaded guilty in the US to operating an unlicensed money transmitting business, servicing US customers from 2018 to early 2024, and agreed to pay more than $504 million. OKX US is managed by a separate entity, OKX INC. Kraken paid the SEC $30 million in 2023 to settle charges over its staking program, and the SEC dismissed a subsequent case against Kraken in March 2025.
Our verdict by criterion
- Fees and costs: we consider them equal, although OKX's initial spot fees are lower in both regions we assessed
- Range of functions: OKX
- Beginner friendliness: OKX
- Operation: a tie
- Security and trust: a tie
- Support: Kraken
OKX achieves a higher overall rating. Kraken is suitable if you seek margin or futures in a US jurisdiction it serves, or if a more extensive coin list holds greater importance than a lower entry fee. Our Kraken review and OKX review cover each platform, our Coinbase vs Kraken comparison contrasts Kraken with Coinbase, and our list of exchanges for day trading evaluates more platforms for frequent trading.
Questions about Kraken and OKX
Is OKX available in the US?
Yes, it is accessible through OKX US, which serves residents in every state except New York, plus DC and Puerto Rico. It operates under its own terms with a spot-only fee schedule.
Is OKX cheaper than Kraken?
At the entry level, it is. OKX imposes 0.08% maker and 0.10% taker fees in the EEA and 0.20% and 0.35% at OKX US, compared to 0.40% and 0.80% on Kraken Pro.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
