Kraken vs Shakepay: Which is Best? [2025]

Kraken

Popular and well-known exchange based in the USA.

Shakepay

Shakepay is a regulated Canadian cryptocurrency exchange offering commission-free Bitcoin and Ethereum trading with Interac e-Transfer funding.

Kraken

Available in over 190 countries globally with some restrictions. Not available in New York, Washington state, Japan, Russia, Belarus, Cuba, Iran, Iraq, North Korea and a few other restricted regions. Some European countries have restrictions on specific services like futures trading.

Shakepay

Available only in Canada. Licensed to operate in all 13 Canadian provinces and territories.

Kraken

Over 200 cryptocurrencies supported including BTC, ETH, USDC, SOL, DOGE, SHIB, XRP, ADA, MATIC, DOT, AVAX, LINK, MANA, LUNA2, ATOM, ALGO, APT, ARB, FTM, NEAR, OP, PYUSD, STRK, SUI, TON, TRX, XLM, XMR, XTZ and many more across multiple networks including Ethereum, Solana, Bitcoin, Polygon, Arbitrum, and others.

Shakepay

Bitcoin, Ethereum, USDC

Kraken

• Withdrawal Fees:
• ACH: Free
• Wire Transfer: $25
• SEPA: Free
• SWIFT: $25
• BTC: Network fees vary

Shakepay

• Trading Fees:
• Commission: 0% (commission-free)
• Spread: 0.5% - 2.0% (varies with market conditions)
• 
  Deposit Fees:
• Interac e-Transfer: Free
• Wire Transfer: Free
• 
  Withdrawal Fees:
• Interac e-Transfer: Free
• Wire Transfer: Free
• Crypto (normal speed): Free
• Crypto (fast speed): Network fees apply

Kraken

ACH, Bank Account, Apple Pay, Google Pay, SEPA, Interac e-Transfer, Debit Card, PayPal

Shakepay

Interac e-TransferWire TransferDebit Card

Kraken

0.15% - 6.5%

Available for BTC (0.15% bonded/0.1% flexible), USDT/USD/USDC (6.5% bonded/4.5% flexible), and EUR (4.45% bonded/3.5% flexible).

Shakepay

0

No interest earning on crypto holdings, but offers 1% Bitcoin cashback on all purchases with Shakepay Card (up to 3% for first 90 days).

Kraken

iOS Rating: 4.7 Official rating from the iOS App Store as of November 18, 2024.

Android Rating: 4.3 Official rating from the Android Play Store as of November 18, 2024.

Shakepay

iOS Rating: 4.6 Official rating from the iOS App Store as of November 18, 2024.

Android Rating: 4.5 Official rating from the Android Play Store as of November 18, 2024.

Kraken

Industry-leading security with ISO/IEC 27001:2013 certification and SOC 2 Type 1 examination. Funds stored in secure cold storage with 24/7 armed guard surveillance. Features include advanced encryption, FIDO2 2FA, customizable API permissions, global settings time lock, and proof of reserves auditing. No phone/SMS recovery to prevent SIM swap attacks. Expert security team with constant monitoring and testing.

Shakepay

Cold storage with insurance policy covering theft, loss, and damages. Multi-party approval required for transactions. Segregated accounts keep customer funds separate from company funds. No fractional reserve - full customer fund backing maintained.

Kraken

Yes, Kraken was hacked in June 2024, but the crypto exchange was able to fix the breach within 47 minutes and no client funds were lost.

Shakepay

No reported security breaches or loss of customer funds.

Kraken

kraken.com

Shakepay

shakepay.com

Kraken

No review available

"What a fantastic trading platform. Wonderful to have it as the mobile version, being able to work your trades on the go. Keeping up with the portfolio just became incredibly easy! Love you guys and thank you for the work. New trader here! The interface is easy to navigate and a pleasure on the eyes. The setup is notable, and perhaps there should be instructions provided in the app upon first launch. :)"
- Real user review from iOS App Store, Android Play Store or Trustpilot

Shakepay

No review available

"Shakepay is extremely easy to use and isn't as costly as some of the other exchanges I've used."
- Real user review from iOS App Store, Android Play Store or Trustpilot