Kraken vs Gemini: Security, Fees & Features Compared
Two of the most security-focused US exchanges go head-to-head. Here's how to choose—and how to unlock their lowest fees.
Kraken wins on fees (0.16% maker vs 0.20%), while Gemini wins on availability (all 50 states including NY). Both have excellent security—Kraken has never been hacked, and Gemini holds a BitLicense with SOC 2 certification. If you're in New York, Gemini is your pick. Everywhere else, Kraken's lower fees give it the edge for active traders.
Kraken vs Gemini: At a Glance
| Feature | Kraken Pro | Gemini ActiveTrader |
|---|---|---|
| Maker Fee | 0.16% | 0.20% |
| Taker Fee | 0.26% | 0.40% |
| Cryptocurrencies | 200+ | 70+ |
| Minimum Deposit | $10 | $0 |
| New York Available | No | Yes |
| BitLicense | — | Yes |
| Security Record | Never Hacked | Never Hacked |
| SOC 2 Certified | No | Yes |
| Insurance | Crime policy (hot wallet) | Nakamoto Ltd. (cold storage) |
| Signup Bonus | None | $15 in BTC |
| Crypto Credit Card | No | 3% Back |
Fee Comparison: The Real Numbers
Both Kraken and Gemini have two interfaces: a simple consumer app with higher fees, and a pro trading platform with significantly lower rates. The key to saving money on either platform is switching to the pro interface—and both make this free and easy to do.
💡 Pro Tip: Unlock Low Fees
Most users don't realize they're paying 2-4x higher fees on the simple apps. Switching to Kraken Pro or Gemini ActiveTrader is free—you just need to enable it in settings.
Kraken Pro Fees
Kraken Pro uses a maker-taker model starting at 0.16% maker / 0.26% taker for traders under $50,000 in 30-day volume. For context, that's $1.60 per $1,000 trade as a maker, or $2.60 as a taker. Volume discounts are aggressive—trade over $10 million monthly and you'll pay just 0.00% maker and 0.10% taker.
Gemini ActiveTrader Fees
Gemini's ActiveTrader platform charges 0.20% maker / 0.40% taker for the same volume tier. That's $2.00 per $1,000 trade as a maker, or $4.00 as a taker. The taker fee is notably higher than Kraken's—you'll pay 54% more per market order.
How to Enable Pro Trading
Kraken Pro
- Log into Kraken
- Click "Trade" in the top menu
- Select "Kraken Pro" (not "Instant Buy")
- You're now on low fees
Or download the Kraken Pro mobile app directly.
Gemini ActiveTrader
- Log into Gemini
- Go to Settings → Preferences
- Enable "ActiveTrader" interface
- Refresh—you're on low fees
Only available on desktop/web, not mobile app.
Real Cost Example: $1,000 Bitcoin Purchase
Fee Impact on a $1,000 Trade
Simple App (Gemini)
$14.90
1.49% convenience fee
Gemini ActiveTrader
$4.00
0.40% taker fee
Kraken Pro
$2.60
0.26% taker fee
Kraken Pro saves you $12.30 per $1,000 vs Gemini's simple app. Over 10 trades, that's $123 in your pocket.
Security: Both Are Top-Tier
When it comes to security, you're comparing two of the safest options in the industry. Neither exchange has ever been hacked, and both take a conservative approach to custody and compliance.
Kraken's Security
- Track Record: Operating since 2011, Kraken has never suffered a security breach resulting in customer fund loss.
- Proof of Reserves: Kraken publishes regular proof of reserves, allowing users to verify that funds are fully backed.
- Cold Storage: The vast majority of funds are held in air-gapped cold storage.
- Bug Bounty: Active program that pays researchers to find vulnerabilities.
Gemini's Security
- SOC 2 Certified: Gemini is one of the only exchanges with SOC 2 Type 2 certification, an independent audit of security controls.
- Trust Company: Operates as a New York Trust Company, regulated like a bank.
- Insurance: Gemini created "Nakamoto, Ltd." specifically to insure crypto assets in cold storage.
- FDIC on USD: US dollar deposits are FDIC insured up to $250,000.
🔒 Security Verdict
It's a tie. Kraken's 14-year track record without a hack is impressive. Gemini's SOC 2 certification and trust company structure provide institutional-grade assurance. Both are significantly more secure than offshore alternatives.
Availability: The New York Factor
This is where the two exchanges diverge significantly. If you live in New York, Gemini is one of your only options.
New York's BitLicense is the strictest crypto regulation in the United States. Only a handful of exchanges have obtained it, and Gemini was one of the first. Kraken has chosen not to apply, citing the high compliance costs and operational restrictions.
This means Kraken is unavailable to New York residents entirely—you can't even create an account. For the other 49 states, both exchanges are available.
Coin Selection: Kraken Wins
Kraken lists 200+ cryptocurrencies compared to Gemini's 70+. If you're interested in mid-cap altcoins or newer projects, Kraken will have better selection. Gemini takes a more conservative approach, only listing assets that have passed their legal review process.
Both platforms support all major assets: Bitcoin, Ethereum, Solana, Cardano, Polkadot, and other top-20 coins. The difference is in the long tail—Kraken is more likely to have that obscure DeFi token you're researching.
Unique Features
Kraken Exclusives
- ✓ Margin Trading: Up to 5x leverage on select pairs (US availability varies)
- ✓ Futures Trading: Perpetual and fixed-maturity contracts
- ✓ OTC Desk: Large trades with personalized service
- ✓ Cryptowatch: Free advanced charting platform
Gemini Exclusives
- ✓ Gemini Credit Card: Earn up to 3% back in crypto on purchases
- ✓ Gemini Pay: Spend crypto at 30,000+ retail locations
- ✓ NFT Marketplace: Buy, sell, and store NFTs
- ✓ $15 Signup Bonus: Get $15 in BTC after first trade
⚠️ A Note on Staking (US Users)
Following SEC enforcement actions in 2023, Kraken halted staking services for US customers. If you want to earn yield on your crypto holdings, you'll need to use a non-custodial solution or a different platform. Gemini still offers staking through select programs, though yields have been reduced compared to historical rates.
Pros and Cons Summary
PROS
- + Lower trading fees (0.16% maker)
- + 200+ cryptocurrencies available
- + Never been hacked (14 years)
- + Advanced trading features
- + Margin and futures trading
CONS
- − Not available in New York
- − No staking for US users
- − No signup bonus
- − Steeper learning curve
PROS
- + Available in all 50 states (incl. NY)
- + SOC 2 certified security
- + $15 BTC signup bonus
- + Crypto credit card (3% back)
- + Trust company structure
CONS
- − Higher fees than Kraken
- − Smaller coin selection (70+)
- − ActiveTrader desktop-only
- − No margin/futures trading
Who Should Choose Which?
Choose Kraken If:
- • You want the lowest possible fees
- • You're not in New York
- • You want access to 200+ coins
- • You're interested in margin/futures
- • You're a more advanced trader
Choose Gemini If:
- • You live in New York
- • You want maximum regulatory protection
- • You want a crypto credit card
- • You prefer institutional-grade custody
- • You want the $15 signup bonus
Frequently Asked Questions
Is Kraken or Gemini safer?
Can I use Kraken in New York?
How do I get lower fees on these exchanges?
Does Kraken offer staking?
Which has better customer support?
Ready to Compare More Exchanges?
See how Kraken and Gemini stack up against Coinbase, Binance.US, Crypto.com, and more.
Compare All Exchanges