Kraken vs Robinhood: fees, withdrawals, safety and which to use
For a $1,000 purchase by bank transfer, Robinhood costs $0, compared with $8 on Kraken.
Kraken vs Robinhood fees
For $1,000, the fees in dollars come from each exchange's own pages for Kraken and Robinhood.
| $1,000 and the basics | Kraken | Robinhood |
|---|---|---|
| Buy by bank transfer (ACH) | $8 | $0 |
| Buy by debit card | $37.75 | – |
| Buy by wire | $8 | $0 |
| Sell and send to your bank (ACH) | $8 | $9.50 |
| Cash out to your bank (ACH) | $0 | $0 |
| Cash out by wire | $4 | $25 |
| Cash out instantly to a debit card | $15 | $17.50 |
| Send Bitcoin to a wallet | $1.21 | – |
| States it does not serve | New York, Maine | Serves every state |
| Serves New York | No | Yes |
| Bank withdrawal | Free, 0-2 business days | Free |
| NYDFS licence | No | Yes |
| FinCEN registration | Registered | – |
| App Store rating (ratings) | 4.7 (36,140) | 4.3 (4,899,968) |
| Google Play rating (ratings) | 4.3 (56,075) | – |
| Coins listed | 721 | 92 |
A row with a dash has no published number from the exchange; "Not offered" means that method isn't supported.
Kraken vs Robinhood in your state
Robinhood serves New York and Maine, while Kraken doesn't serve those states.
Kraken vs Robinhood withdrawals
You can withdraw from Kraken to your bank at no cost, with funds arriving within 0-2 working days (cutoff 2pm EST).
Robinhood provides free withdrawals to your bank.
Kraken vs Robinhood safety
For New York, Kraken has no NYDFS licence.
Robinhood has a New York licence or charter issued by NYDFS.
Kraken vs Robinhood apps and coins
On the App Store, the Kraken app has 4.7 out of 5 from 36,140 ratings. For Google Play, its score is 4.3 from 56,075 ratings.
On the App Store, the Robinhood app has 4.3 out of 5 from 4,899,968 ratings.
Which should you pick, Kraken or Robinhood?
- Choose Kraken if you'll use Kraken Pro and its order book.
- Choose Robinhood if you'll use its Exchange routing fee tiers and order book, or live in a state that others leave out.
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