The best alternatives to Kraken
Kraken’s high instant-buy spreads and strict KYC push traders toward European exchanges with lower fees and clearer data jurisdiction. Others switch to avoid the split between Kraken’s beginner and Pro interfaces or the long verification holds that lock funds during compliance checks.
European alternatives
Frequently asked questions
Why do traders switch from Kraken?
Users leave Kraken primarily over high instant-buy spreads, strict KYC for all trades, and the friction of managing separate beginner and Pro interfaces. Others seek exchanges with EU data residency to avoid US jurisdiction risks like the CLOUD Act.
Are there Kraken alternatives with EU data hosting?
Yes. European exchanges like CoinGate and BVNK process and store user data within the EU, aligning with GDPR. This avoids the US jurisdictional reach of Kraken’s parent company.
How do fees compare to Kraken?
Kraken Pro’s maker/taker fees start around 0.16–0.40%, while some European alternatives offer lower entry tiers or fee promotions. Instant-buy spreads on Kraken are often a bigger cost driver than the headline rates.
Can I migrate my Kraken portfolio to a European exchange?
You can transfer supported cryptocurrencies from Kraken to most European exchanges by sending assets to a wallet address. Some platforms also offer guided onboarding for users switching from Kraken, but you’ll need to re-verify KYC and may face temporary holds.
Do European Kraken alternatives require KYC?
Most centralized European exchanges like CoinGate and BVNK require KYC for fiat on-ramps and higher limits, but some offer non-custodial or peer-to-peer options with lighter verification for crypto-to-crypto trades.