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Kraken vs Wealthsimple: Which is Best? [2025]

Kraken
Overall Rating
Wealthsimple
Overall Rating
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Wealthsimple logo Visit Wealthsimple

Key differences

  1. Kraken supports 200+ cryptocurrencies, while Wealthsimple supports 100+ cryptocurrencies.
  2. Wealthsimple has tiered fees based on account assets (0.5%-2%), while Kraken Pro uses volume-based tiered fees.
  3. Wealthsimple is Canada-only, while Kraken is available in 190+ countries globally.
  4. Wealthsimple offers interest on chequing balances and crypto staking, while Kraken offers interest-earning and margin trading.


Kraken vs Wealthsimple Fees Calculator

Fee calculator estimates are based on our research & testing. Check the exchange website for most accurate fees.

We built this fee calculator to help you compare the fees of Kraken and Wealthsimple.

Enter the amount you want to buy and we'll show you the estimated fees for each exchange.



Kraken vs Wealthsimple in Comparison

Description

Kraken

Popular and well-known exchange based in the USA.

Wealthsimple

Canadian financial services platform serving 3+ million users with $70+ billion in assets under administration. Offers crypto trading alongside traditional investing.

Supported Countries

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.

Wealthsimple

Available only in Canada. All users must verify their identity to access crypto trading features.

Supported Cryptocurrencies

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.

Wealthsimple

100+ cryptocurrencies including Bitcoin

Fees

Kraken

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

Wealthsimple

  • Trading Fees (based on account tier):
  • Core ($1+ assets): 2%
  • Premium ($100K+ assets): 1%
  • Generation ($500K+ assets): 0.5%

  • FX Conversion Fees:
  • Under $10,000: 1.5%
  • $10,000 - $24,999: 1.0%
  • $25,000 - $99,999: 0.5%
  • $100,000+: 0%

  • Staking Fees:
  • Core/Premium: 30% of rewards
  • Generation: 15% of rewards

Payment Methods

Kraken

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

Wealthsimple

Bank AccountInterac e-Transfer

Do These Exchanges Allow you To Earn Interest on Crypto?

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).

Wealthsimple

1.75% - 2.75%

Earn 1.75% (Core), 2.25% (Premium), or 2.75% (Generation) interest on chequing account balances. Also offers staking yields up to 6% (Core), 11% (Premium), or 13.5% (Generation) on supported cryptocurrencies.

Mobile App Ratings

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.

Wealthsimple

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

Android Rating: 3.8 Official rating from the Android Play Store as of November 18, 2024.

Storage

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.

Wealthsimple

Majority of cryptocurrencies held in offline cold storage with regulated custodial partners, each with $75M+ insurance coverage. Hot wallets covered by Coincover insurance for additional protection against hacks.

Have These Exchanges Been Hacked Before?

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.

Wealthsimple

No reported loss of customer funds.

Official Site

Kraken

kraken.com

Wealthsimple

wealthsimple.com

Exchange Review

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

Wealthsimple

No review available

"Love the simplicity and how easy this was to get going!"
- Real user review from iOS App Store, Android Play Store or Trustpilot

Kraken vs Wealthsimple Comparison

Fee Structures

Kraken (taker) uses a tiered fee structure based on 30-day trading volume:

  • 0.40% for under $10,000
  • 0.35% for $10,000-$50,000
  • 0.24% for $50,000-$100,000
  • 0.22% for $100,000-$250,000
  • 0.20% for $250,000-$500,000
  • 0.18% for $500,000-$1M
  • 0.16% for $1M-$2.5M
  • 0.14% for $2.5M-$5M
  • 0.12% for $5M-$10M
  • 0.10% for $10M-$100M
  • 0.08% for over $100M
Kraken offers fee-free ACH and SEPA deposits. ACH and SEPA withdrawals are free, while wire transfers and SWIFT have a $25 fee. Wealthsimple uses tiered fees based on account assets under administration:
  • Core ($1+ assets): 2%
  • Premium ($100K+ assets): 1%
  • Generation ($500K+ assets): 0.5%
Wealthsimple charges FX conversion fees: 1.5% (under $10K), 1.0% ($10K-$25K), 0.5% ($25K-$100K), 0% ($100K+). Instant withdrawals cost 2.5%.

Feature Set

Kraken offers over 200 cryptocurrencies, staking/interest earning options, advanced trading features, auto-DCA, and secure cold storage.

Wealthsimple supports 100+ cryptocurrencies with tiered fee structure, offers interest on chequing balances (1.75%-2.75%), crypto staking yields (up to 13.5%), and auto-DCA features.

Geographic Availability

Kraken is available in over 190 countries (except NY, WA, Japan, Russia, etc.). Wealthsimple is available only in Canada, serving 3+ million users with $70+ billion in assets under administration.

Security Features

Kraken features ISO 27001, SOC 2, cold storage, FIDO2, and proof of reserves. Wealthsimple uses majority offline cold storage with regulated custodial partners, each with $75M+ insurance coverage, plus Coincover insurance for hot wallets.

Payment Methods

Kraken supports ACH, Bank Account (including wire transfers, Fedwire/SWIFT, Etana Custody, FPS/CHAPS/BACS for UK, SIC for Switzerland, and PayID/Osko for Australia), SEPA, Interac e-Transfer, Debit Card, PayPal, Apple Pay, and Google Pay.

Wealthsimple supports Bank Account and Interac e-Transfer.

Customer Support

Kraken provides 24/7 human support, while Wealthsimple offers human support to their Canadian users.

Additional Features

Kraken offers interest-earning options, staking, and support for 200+ assets with advanced charts.

Wealthsimple focuses on integrated financial services with chequing account interest, crypto staking, and auto-DCA for Canadian users.

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