7 minute read
MEXC vs Kraken: A Comprehensive Review
from MEXC Exchange
by XM Blog
If you are deciding between MEXC and Kraken, the answer depends on your priorities. MEXC is better for traders who want hundreds of cryptocurrencies, high-leverage futures, and low fees, while Kraken is ideal for users who value strong regulatory compliance, a long history in the market, and advanced security. Both exchanges are reputable, but they cater to different types of users. Let’s break down the differences in detail so you can make the right choice.
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1. Background and Reputation
MEXC was launched in 2018 and quickly became popular in Asia and globally. It is known for listing a huge variety of coins, often adding new tokens faster than most exchanges. MEXC has grown its user base by offering up to 200x leverage, competitive fees, and fast deposits and withdrawals. It operates globally, though it is not licensed in the United States.
Kraken, founded in 2011, is one of the oldest crypto exchanges in the world. It is based in the U.S. and is fully regulated in multiple jurisdictions, including the U.S., Canada, and Europe. Kraken has built a strong reputation for security and compliance, surviving multiple market cycles without major hacks. It appeals to traders who prioritize safety and legal protections.
2. Cryptocurrency Selection
When it comes to coin availability, MEXC easily beats Kraken. MEXC offers over 1,800 cryptocurrencies, including many low-cap altcoins, new project launches, and meme tokens. This makes it attractive for speculative traders and those seeking early opportunities.
Kraken supports around 200 cryptocurrencies, focusing on established and vetted projects. While this means fewer options for altcoin hunters, it also reduces exposure to extremely volatile or unproven coins.
If your strategy is to trade niche tokens or participate in new listings, MEXC is the better choice. But if you prefer sticking to top-market-cap coins with a proven track record, Kraken is more aligned with your goals.
3. Trading Features
MEXC offers spot trading, margin trading with up to 10x leverage, and futures contracts with leverage up to 200x. It also provides copy trading, ETF-like leveraged tokens, and staking products. The platform is built for active traders and high-risk strategies.
Kraken offers spot trading, margin trading with up to 5x leverage, and futures contracts with up to 50x leverage. While its leverage limits are lower, Kraken focuses on professional-grade order execution, stability, and regulatory adherence. It also offers staking on multiple assets, including ETH, DOT, ADA, and more, with a reputation for consistent payouts.
4. Fees
MEXC is known for low trading fees. Spot trading fees start at 0.1% for both makers and takers, with discounts available if you pay fees using the MX token. Futures trading fees are even lower, starting at 0.02% maker and 0.06% taker.
Kraken’s fees are higher in comparison, with spot trading starting at 0.16% maker and 0.26% taker for low-volume traders. High-volume traders get reduced rates, but overall, MEXC remains cheaper for most users.
If keeping trading costs low is your priority, MEXC wins.
5. Security and Regulation
Kraken has one of the strongest security track records in the industry. It stores the majority of funds in cold wallets, undergoes regular audits, and is fully compliant with U.S. and European regulations. Kraken has never been hacked since its founding in 2011, which is rare for any exchange.
MEXC also uses cold storage and advanced security measures, but it is not licensed in as many jurisdictions as Kraken. While it has avoided major security incidents, it does not have the same long-standing regulatory history as Kraken.
If you need maximum security backed by regulatory oversight, Kraken is the safer option.
6. User Experience and Interface
MEXC’s interface is modern, responsive, and optimized for high-frequency trading. It offers web, desktop, and mobile apps with real-time market data. Beginners may find it overwhelming at first due to the abundance of trading options, but experienced traders will appreciate the flexibility.
Kraken’s interface is cleaner and more beginner-friendly. It offers both a simple trading view for newcomers and Kraken Pro for advanced traders. The mobile app is intuitive and designed for ease of use, though it may feel slower compared to MEXC for very active traders.
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7. Deposit and Withdrawal Options
MEXC supports crypto deposits and withdrawals, plus certain fiat on-ramp options via third-party payment providers. However, fiat support is not as extensive as Kraken’s.
Kraken supports multiple fiat currencies, including USD, EUR, CAD, JPY, and GBP, with bank transfers, SWIFT, SEPA, and more. For users who need to move funds between crypto and traditional banking, Kraken offers a more seamless experience.
8. KYC and Account Verification
MEXC allows limited trading without full KYC verification, which appeals to privacy-focused traders. However, higher withdrawal limits and fiat transactions require completing KYC.
Kraken requires KYC verification for almost all meaningful trading activity, in line with its regulatory obligations. This means less privacy but more legal protection for users.
9. Staking and Passive Income
MEXC offers flexible and fixed staking products with varying returns, as well as launchpool opportunities for earning tokens from new projects. Returns can be high, especially for newer tokens.
Kraken provides staking on a smaller selection of assets but is known for reliable and transparent payouts. It also offers on-chain staking, where rewards are generated directly from the blockchain rather than through internal programs.
10. Customer Support
MEXC provides 24/7 live chat support, email assistance, and a help center with tutorials. Response times are generally quick, though experiences vary depending on the complexity of issues.
Kraken is known for its professional customer service, offering 24/7 live chat and email support, with a reputation for resolving issues efficiently. It also has a comprehensive educational section for beginners.
11. Liquidity and Volume
MEXC has high liquidity, especially for altcoins and futures markets. For major coins like BTC and ETH, liquidity is competitive with top global exchanges.
Kraken’s liquidity is strong for top cryptocurrencies and fiat pairs, but altcoin liquidity may not match MEXC’s depth.
If you primarily trade niche altcoins, MEXC offers better liquidity. If you trade BTC, ETH, and fiat pairs, Kraken is equally strong.
12. Geographic Restrictions
MEXC is available in many countries but does not serve users in the U.S. due to regulatory restrictions.
Kraken is licensed in the U.S. and many other jurisdictions but has withdrawn from some markets where compliance was difficult, such as Japan in the past.
Your location may determine which platform you can use legally.
13. Which Exchange Should You Choose?
If you want maximum coin variety, high leverage, low fees, and the ability to trade without full KYC, MEXC is the better fit. It’s designed for aggressive traders who are comfortable with higher risk and want access to the widest range of markets.
If you prioritize security, regulation, fiat on/off ramps, and a stable trading environment, Kraken is the safer choice. It’s ideal for users who value compliance, transparency, and peace of mind.
14. Final Thoughts
MEXC and Kraken are both strong exchanges but serve different audiences. MEXC is like a high-speed sports car—fast, exciting, and full of features but requiring more skill and risk tolerance. Kraken is like a reliable armored vehicle—slower in adding new features but built to last and keep you safe.
Your decision should come down to your risk appetite, trading style, and need for regulatory protection. Many traders even use both—MEXC for altcoin speculation and Kraken for long-term holdings and fiat transactions.
In the end, the best exchange is the one that aligns with your personal strategy, not just the one with the longest list of features.
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