Kraken vs Crypto.com: What Works Better For Canadians?

Security Compliance

Crypto.com is highly secure crypto exchange. They keep funds in cold storage, offer two-factor authentication to keep accounts secure, encrypt user data, and more. 

Crypto.com keeps 100% of users’ funds in cold storage, specifically in a Ledger vault. This percentage is the highest we’ve seen of any crypto exchange, showing crypto.com truly values security. Crypto.com also has $750M in cold storage insurance in case of theft. 

Crypto.com also makes its users whitelist all withdrawal addresses via email and users multi-factor authentication  - such as FaceID - to

Kraken keeps 95% of users’ funds in cold storage. All account information is encrypted, their servers are locked in cages under 24/7 surveillance by armed guards. 

To help secure your Kraken account you can use two-factor authentication. You will receive an email notifying you of any withdrawal, and there is an account timeout for added protection.

Both Kraken and crypto.com are highly secure crypto exchanges. They keep funds in cold storage, offer two-factor authentication to keep accounts secure, encrypt user data, and more. Kraken even states that its servers are protected by armed guards. 

While Kraken keeps 95% of users’ funds in cold storage, crypto.com keeps 100% of users’ funds in cold storage, specifically in a Ledger vault. This percentage is the highest we’ve seen of any crypto exchange, showing crypto.com truly values security. Crypto.com also has $750M in cold storage insurance in case of theft. 

Crypto.com also makes its users whitelist all withdrawal addresses via email and users multi-factor authentication  - such as FaceID - to secure accounts. You can be sure your funds are as safe as can be with crypto.com. 

Regulatory Compliance

Crypto.com is fully regulated and can be accessed in Canada, USA (except New York), Europe, and other countries around the world.

Kraken is fully compliant with US regulations. The exchange is independently audited to show that customers’ funds are properly held. Canadians can use the platform as well.

Kraken is fully compliant with US regulations. The exchange is independently audited to show that customers’ funds are properly held. Crypto.com is also fully regulated and can be accessed in Canada, USA (except New York), Europe, and other countries around the world.

Customer support

The customer support for crypto.com is quite slow. Users like the app, security, and the wide range of coins, but the customer service needs work. Crypto.com does not offer educational resources or a knowledge centre, which is a let down. 

Kraken offers a 24/7 live chat and email support. It also offers a good amount of learning documentation and helpful articles on its website. Unfortunately, many people say Kraken has poor customer support with tickets taking a long time to be resolved if ever.

Kraken offers a 24/7 live chat and email support. It also offers a good amount of learning documentation and helpful articles on its website. Unfortunately, many people say Kraken has poor customer support with tickets taking a long time to be resolved if ever. The same can be said for crypto.com. Users like the app, security, and the wide range of coins, but the customer service needs work. Crypto.com does not offer educational resources or a knowledge centre, which is a let down. 

Conclusion

If the question is Kraken vs crypto.com for Canadians, then the clear winner is crypto.com. While Kraken is a good exchange and many people like it, crypto.com offers so much more. Not only can you earn cashback with the crypto.com Visa cards and stake your crypto directly in the app, but crypto.com offers free deposits via Interac E-transfer making it a top choice for Canadians to buy crypto. Crypto.com’s fees are more reasonable than Kraken’s, plus it offers more cryptocurrencies. Crypto.com has been marketing itself well lately, and its own coin, crypto.com coin (CRO) is slowly catching up on Binance coin (BNB). Overall, crypto.com has everything you need in a crypto exchange. You can sign up here.

Kraken stands out with its variety of flexible funding methods, including wire transfers and crypto funding options, giving users more convenience when moving their assets. Furthermore, Kraken’s 24/7 customer service is a significant advantage, ensuring that users can get support anytime, which is crucial for traders working across multiple time zones. This level of accessibility can be a key differentiator when compared to other exchanges, some of which may not offer round-the-clock support.

When comparing Crypto.com to other exchanges, it's essential to note that Crypto.com stands out by offering over 350 cryptocurrencies, making it one of the most comprehensive platforms available. It also provides a Visa card with customizable cashback rates and different card types to suit user preferences. Additionally, Crypto.com’s robust DeFi services and competitive staking options, with regularly updated APY rates, make it a versatile choice for investors. Furthermore, its security certifications, such as SOC2 and ISO standards, further enhance its appeal by ensuring a high level of safety and trustworthiness.

On top of these two, we would recommend Coinsmart for a number of reasons. Why? Check on our Coinsmart review.