Backpack vs Kraken Comparison
| 0.08/0.10% spot, 0.02/0.05% futures; 0.85% swap | Fees | 0.99 % |
| ~€5.75 | Cost for €1,000 | € 9.90 |
| ~50+ | Cryptos | 380+ |
| Card, bank via Banxa; SEPA limited | Payment Methods | SEPA Instant Transfer, SEPA Transfer, PayPal, Credit Card |
| VARA (Dubai); EU rollout via FTX EU only now | Regulation | EU: MiCA USA: CFTC UK: FCA |
Pros & Cons
- Low maker fees starting at 0.08% and taker fees starting at 0.10%
- Staking is available
- Wallet and exchange in one ecosystem
- VARA license in Dubai
- Cost transparency is seen as room for improvement – hidden costs occasionally criticized
- Wallet transfer fees are not disclosed
- No savings plan available
- Swap fees of 0.85% occasionally criticized
- Over 380 cryptocurrencies available
- Savings plan and staking offered
- On the market since 2011 – one of the oldest crypto exchanges
- Payment methods: SEPA instant bank transfer, PayPal, and credit card
- Wallet transfer fees of approx. €1.49
- Minimum investment possible from €1
- Trading fees of 0.99% could be improved compared with cheaper exchanges
- Total costs of €9.90 per trade occasionally criticized
- Cost transparency is assessed as limited
- No EU regulation or BaFin license available
User Experiences
AI AnalysisNot enough reviews available.
According to the analyzed user reviews, Kraken is often described as simple and easy to understand, especially with regard to the app and basic usability. At the same time, users mainly report criticism of support-related topics and costs, so the overall picture from a user perspective is mixed.
This analysis is based on 733 user reviews evaluated by AI from the Apple App Store, Trustpilot, and Google Play Store. The total number of reviews on the respective platforms may be higher — the platform ratings (star ratings) shown refer to all reviews available there. The reviews shown reflect users’ experiences and do not represent the site operator’s own assessment. All information without guarantee. Status: March 2026. This comparison does not constitute investment advice.
Features
| ✓ | Savings plan | ✓ |
| ✓ | Staking | ✓ |
| ✓ | Wallet transfer | ✓ |
| ✓ | Cost transparency | ✓ |
| ✓ | 2FA security | ✓ |
| ✓ | SEPA transfer | ✓ |
| ✓ | Credit card | ✓ |
| ✓ | Minimum amount | ✓ |
| ✓ | Mobile app (iOS/Android) | ✓ |
| ✓ | Web platform | ✓ |
| ✓ | Account lock | ✓ |
| ✓ | SEPA instant bank transfer | ✓ |
| ✓ | PayPal | ✓ |
- Maker fees starting at 0.08% are considered low
- VARA license in Dubai
- Wallet and exchange on one platform
- On the market since 2011 with a significant market presence
- Comprehensive security protocols incl. 2FA and account lock
- 380+ cryptocurrencies tradable
- Savings plan and staking on one platform
Details
| Trek Labs (FTX ties) | Company | Payward Inc. |
| Dubai (VARA) | Headquarters | — |
| 2023 | Founded | 2011 |
| VARA (Dubai); EU rollout via FTX EU only now | Regulation | EU: MiCA USA: CFTC UK: FCA |
| Unclear | Minimum Amount | € 1 |
| Yes | KYC | Photo ID |