Kraken vs eToro: fees, withdrawals, safety and which to use
Kraken charges less for a $1,000 bank-transfer buy, at $8 compared with $10 on eToro.
Kraken vs eToro fees
On their own sites, Kraken and eToro show their dollar fees for $1,000.
| $1,000 and the basics | Kraken | eToro |
|---|---|---|
| Buy by bank transfer (ACH) | $8 | $10 |
| Buy by debit card | $37.75 | – |
| Buy by wire | $8 | – |
| Sell and send to your bank (ACH) | $8 | $10 |
| Cash out to your bank (ACH) | $0 | $0 |
| Cash out by wire | $4 | $0 |
| Cash out instantly to a debit card | $15 | – |
| Send Bitcoin to a wallet | $1.21 | – |
| States it does not serve | New York, Maine | Areas: Nevada, Hawaii, Puerto Rico, US Virgin Islands, American Samoa, Guam |
| Serves New York | No | Yes |
| Bank withdrawal | Free, 0-2 business days | Free, 7-day hold after online-banking deposits |
| NYDFS licence | No | Yes |
| FinCEN registration | Registered | Registered |
| App Store rating (ratings) | 4.7 (36,140) | 4.4 (9,966) |
| Google Play rating (ratings) | 4.3 (56,075) | – |
| Coins listed | 721 | 113 |
A dash means the exchange has no published figure for that row. "Not offered" means the exchange doesn't support that method.
Kraken vs eToro in your state
Kraken serves customers in Nevada, Hawaii, Puerto Rico, US Virgin Islands, American Samoa and Guam, while eToro serves none of those places.
Kraken doesn't serve New York or Maine, but eToro serves both.
Kraken vs eToro withdrawals
Kraken bank withdrawals are free and arrive within 0-2 working days. The cutoff is 2pm EST.
eToro bank withdrawals cost nothing. After online-banking deposits, a 7-day hold applies, then processing takes up to 2 working days and the transfer generally takes under 3 working days.
Kraken vs eToro safety
Kraken doesn't hold an NYDFS licence for New York.
From NYDFS, eToro holds either a New York licence or a charter.
Kraken vs eToro apps and coins
The Kraken app has an App Store score of 4.7 out of 5 from 36,140 ratings. Its Google Play score is 4.3 from 56,075 ratings.
The eToro app has an App Store score of 4.4 out of 5 from 9,966 ratings.
Which should you pick, Kraken or eToro?
- Choose Kraken if you'll use Kraken Pro and its order book.
- Pick eToro if its app and simple buy screen suit what you want.
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