Alternatives to Kraken
Kraken is a well-known crypto exchange offering auto-invest from $5 and SMSF account support, making it a solid choice for Australian investors who want to dollar-cost average into digital assets. However, you might be looking for alternatives if you want access to a wider range of coins, lower trading fees, different account features, or a platform that also handles traditional shares. We've lined up 7 alternatives worth considering, each with a different angle on fees, features, or asset access.
CoinSpot charges just 0.01% per trade and supports over 400 coins, compared to Kraken's narrower selection.
- ASX ETFs supported
- No
- Auto-invest / DCA
- Yes
- Monthly platform fee
- $0/month
Swyftx is Australian-owned with 320+ coins, zero minimum deposit, and built-in SMSF support.
- ASX ETFs supported
- No
- Auto-invest / DCA
- Yes
- Monthly platform fee
- $0/month
Crypto.com offers 250+ coins with no minimum deposit and a popular Visa card rewards program.
- ASX ETFs supported
- No
- Auto-invest / DCA
- Yes
- Monthly platform fee
- $0/month
Independent Reserve is an Australian-regulated exchange with zero monthly fees and full SMSF support.
- Auto-invest / DCA
- Yes
- Monthly platform fee
- $0/month
CoinJar charges a flat 1% brokerage and offers SMSF accounts with a simple, clean interface.
- ASX ETFs supported
- No
- Auto-invest / DCA
- Yes
- Monthly platform fee
- $0/month
BTC Markets is an Australian exchange with a $30 minimum, SMSF support, and no monthly platform fee.
- Auto-invest / DCA
- Yes
- Monthly platform fee
- $0/month
KuCoin offers spot and futures trading with up to 125x leverage, plus options for advanced traders.
- ASX ETFs supported
- No
- Auto-invest / DCA
- Yes
- Monthly platform fee
- $0/month
Common questions
What are the main reasons to switch from Kraken to another crypto exchange?
Common reasons include wanting access to more coins, lower trading fees, a platform regulated in Australia, or the ability to trade traditional shares alongside crypto. Some investors also prefer a simpler interface or better customer support options.
Does Kraken support SMSF accounts for crypto investing?
Yes, Kraken does support SMSF accounts. If you need that feature, most of the major Australian crypto exchanges also offer it. Check each platform's SMSF setup process and any associated fees before committing.
Are there crypto exchanges with lower fees than Kraken?
Yes, several exchanges offer competitive or lower fees. Some Australian platforms charge as little as 0.01% per trade, while others use a flat percentage model. Compare the fee structure based on your typical trade size and frequency.
Can I trade both crypto and ASX shares on the same platform?
Most crypto exchanges only handle digital assets. If you want to trade both crypto and ASX shares in one place, look for a platform that offers both, though these are less common. You may need separate accounts for each asset type.