Updated September 29, 2026 · SumCue Editorial Team
kraken vs Nexo
kraken
Higher score in this comparison
Nexo
What sets them apart
| Compare | krakenReviewVisitVisit | NexoReviewVisitVisit |
|---|---|---|
| Currency conversion fee | 0%Lower | 0.2% to 2.5% |
| Cashback rate | 2% | 0.1% to 2% |
| Currencies | 600Higher | 100 |
| Custody | Self custody | Custodial |
| Free ATM withdrawals | Not confirmed | €200 to €2,000 |
Same on both: Monthly fee (€0), Card type (Debit), Card network (Mastercard).
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Key differences
- kraken scores higher overall: 9.2 vs 8.9.
- Founded is lower at kraken: 2011 vs 2018.
- kraken is licensed in 3 more countries.
- Currency conversion fee is lower at kraken: 0% vs 0.2% to 2.5%.
- Currencies is higher at kraken: 600 vs 100.
- Support channels: only kraken offers Phone, Community.
- Features: only kraken offers Self custody, Staking.
- Features: only Nexo offers Multi currency, Crypto, Virtual card.
- Audience: only kraken offers Beginners, Experienced.
- Audience: only Nexo offers Business.
Our verdict on each
kraken
Kraken suits UK and European buyers who want crypto, stocks, ETFs and futures in a single account, under licences from the Central Bank of Ireland, CySEC, the FCA and US regulators. The catch is trading cost: a taker fee of 0.8% against a site median of 0.25%, ranked 100 of 121 on price.
Nexo
Nexo suits businesses and crypto users who want a multi-currency card, with monthly and annual card fees of €0 and €0. The trade-off is tier-based cashback, foreign exchange costs, and custodial holding of supported crypto.
Score breakdown
| Area | kraken | Nexo |
|---|---|---|
| Cost | 8.3 | 9.2HigherMonthly and annual card fees are €0 and €0, while foreign exchange costs are 0.2% to 2.5%. |
| Offer | 9.8Higher | 9.2The card supports crypto cashback, multi-currency use, virtual cards, travel, Apple Pay and Google Pay. |
| Trust | 9.7Higher | 8.3 |
Availability and regulation
| Country | kraken | Nexo |
|---|---|---|
| Argentina | ||
| Australia | AUSTRAC ACN 163 237 634 | AUSTRAC (Australia) DCE100843695-001 |
| United States | FinCEN 31000270997766 CFTC and NFA NFA ID #0309379 | |
| Austria | Austrian Financial Market Authority (FMA) MiCA CASP 5299005V5GBSN2A4C303 | Not confirmed |
| Bermuda | Bermuda Monetary Authority 202403268 | Not confirmed |
| Canada | FINTRAC M19343731 | Not confirmed |
| Cyprus | CySEC 342/17 | Not confirmed |
| Hong Kong | Not confirmed | Companies Registry (Hong Kong) TC007556 |
Choosing between them
Pick kraken if offer, currency conversion fee, and currencies matter most.
Pick Nexo if cost matter most.
What we checked
kraken
- krak.app: 6 facts, checked September 26, 2026
- kraken.com: 4 facts, checked September 26, 2026
- esma.europa.eu: 2 facts, checked September 26, 2026
- coingecko.com: 1 fact, checked September 26, 2026
Nexo
- nexo.com: 13 facts, checked September 26, 2026
How they place
| Ranking | kraken | Nexo |
|---|---|---|
| Credit and debit cards | 328 of 1594 | 10 of 1594 |
| Debit cards | 16 of 826 | 8 of 826 |
| Crypto | 19 of 428 | 187 of 428 |
| Crypto wallets | 13 of 249 | 4 of 249 |
Every fact side by side
| Fact | kraken | Nexo |
|---|---|---|
| Features | Custodial, Self custody, Staking | Multi currency, Crypto, Virtual card, Custodial, Travel |
| Audience | Beginners, Experienced | Business |
| Legal entity | Payward Europe Solutions Limited | DiPocket UAB |
| Headquarters | Ireland | Not confirmed |
| Founded | 2011Lower | 2018 |
| Support channels | Email, Chat, Phone, Help centre, CommunityCovers more | Chat, Email, Help centre |
Brokers
| Fact | kraken | Nexo |
|---|---|---|
| Stock trade fee | $0 | Not confirmed |
| Markets | Stocks, ETFs, Crypto, Futures | Not confirmed |
| Regulators | Central Bank of Ireland, CySEC, FCA, FINTRAC, FinCEN, SEC and FINRA, CFTC and NFA, AUSTRAC, Bermuda Monetary Authority, Comision Nacional de Valores (CNV), Austrian Financial Market Authority (FMA), Central Bank of Ireland (CBI) | Not confirmed |
| Investor protection | EU ICS up to EUR 20,000 | Not confirmed |
| Pricing model | Commission free | No annual fee |
| Deposit and withdrawal fees | Varies by method and currency | Not confirmed |
| Platforms | Kraken App, Kraken Pro, Kraken Desktop | Not confirmed |
Crypto wallets
| Fact | kraken | Nexo |
|---|---|---|
| Wallet type | Mobile | Mobile |
| Price | $0 | Not confirmed |
| Coins supported | Not confirmed | 100 |
| Backup options | Seed | Not confirmed |
Credit cards
| Fact | kraken | Nexo |
|---|---|---|
| Annual fee | Not confirmed | €0 |
| APR | Not confirmed | from 1.9% |
| Rewards type | Not confirmed | Cashback |
| Rewards rate | Not confirmed | Up to 2% crypto cashback in NEXO Tokens, or 0.5% in BTC at Platinum tier, on purchases in Credit Mode |
| Perks | Not confirmed | Free ATM withdrawals up to EUR 2,000 / GBP 1,800 per month at Platinum tier, then 2% fee (min EUR/GBP 1.99), Apple Pay and Google Pay supported, Interest earned on unspent funds (Nexo Loyalty Program, up to 13% per year), Accepted at over 100 million merchants globally, Virtual card activated instantly with 50 USD balance; free shipping for physical card above 5,000 USD balance at Gold tier or higher, No monthly, annual or inactivity card fees |
| Cashback rate | Not confirmed | 0.5% to 2% |
| Card kind | Not confirmed | Credit |
Where each stands against the rest
| Fact | kraken | Nexo | Median |
|---|---|---|---|
| Monthly fee | €0at the median | €0at the median | €0 |
| Currency conversion fee | 0%below the median | 0.2% to 2.5%below the median | 1% |
| Free ATM withdrawals | Not confirmed | €200 to €2,000highest quarter | €4 |
| Cashback rate | 2%at the median | 0.1% to 2%at the median | 2% |
| Currencies | 600highest quarter | 100highest quarter | 8 |
Median across 336 listed providers.
Pros and cons
kraken
Pros
- Licensed by the Central Bank of Ireland, CySEC, the FCA, FinCEN, SEC and FINRA, CFTC and NFA, AUSTRAC and the Bermuda Monetary Authority, with EU protection stated as EU ICS up to EUR 20,000.
- Crypto, stocks, ETFs and futures sit in a single account, and the stock trade fee is $0.
- A self-custody mobile wallet priced at $0, with a seed phrase as backup, so coins need not sit on the exchange.
Cons
- Trading fees are the weak side: a taker fee of 0.8% and a maker fee of 0.4% against a site median taker fee of 0.25%.
- Deposit and withdrawal fees vary by method and currency, and withdrawal fees also vary per asset, so moving money costs change with the route.
- Custody differs by product, since the exchange is a centralised venue while the wallet is self-custody, and the platform covers custodial, self-custody and staking features together.
Nexo
Pros
- No monthly or annual card fees: €0 and €0.
- Crypto cashback is available in NEXO Tokens or BTC at Platinum tier in Credit Mode.
- Multi-currency use, virtual cards, travel, Apple Pay and Google Pay are supported.
Cons
- Foreign exchange costs are 0.2% to 2.5%, which may add to overseas spending.
- Supported crypto is held in custodial custody under custodial.
- Cashback and ATM terms depend on card tiers, so lower tiers receive less favourable benefits.
Who each suits
kraken
Who it suits
- EU and UK buyers who want stocks, ETFs and futures alongside crypto without a second platform.
- Coin holders who want to hold outside the exchange, with a self-custody wallet backed by a seed phrase.
- Spending crypto users, since the card pays cashback of 2% with a currency conversion fee of 0%.
Who should look elsewhere
- Taker-heavy traders, who may pay less on bunq, where the taker fee is 0.25% to 1.99% against 0.8% here.
- Readers who want yield priced on a crypto earn product rather than trading fees, where Vivid Plus charges 2.25%.
Nexo
Who it suits
- Businesses seeking a multi-currency card with no monthly or annual card fees.
- Crypto users comfortable with crypto cashback and custodial custody.
- Travellers who want Mastercard, virtual-card, Apple Pay and Google Pay support.
Who should look elsewhere
- bunq may suit readers whose stated foreign exchange fee range is 0.5% to 3%.
- Varo Believe Secured Credit Card may suit readers focused on a card with a stated monthly fee of $0.
- Wise may suit readers looking for a different everyday money platform, with a stated monthly fee of £0.
Country by country
| Country | kraken | Nexo |
|---|---|---|
| Argentina | No | Yes |
| Australia | No | Yes |
| Austria | No | Yes |
| Belgium | No | Yes |
| Bulgaria | No | Yes |
| Croatia | No | Yes |
| Cyprus | No | Yes |
| Czechia | No | Yes |
8 of 36 countries where either is available.
Questions about each
kraken
What does it cost to trade on Kraken?+
Trading fees are the main charge. The taker fee is 0.8% and the maker fee is 0.4%, against a site median taker fee of 0.25%. Deposit and withdrawal fees vary by method and currency, while stock trades carry a stock trade fee of $0.
Is Kraken regulated and is money protected?+
Its regulator list runs from the Central Bank of Ireland and CySEC to the FCA, FinCEN, SEC and FINRA, CFTC and NFA, AUSTRAC and the Bermuda Monetary Authority. In the EU the stated protection is EU ICS up to EUR 20,000, held through Payward Europe Solutions Limited. Proof of reserves is also offered.
Nexo
What are the Nexo card fees?+
Nexo lists a monthly card fee of €0 and an annual card fee of €0. Its published perks also state that there are no monthly, annual or inactivity card fees.
What is the currency conversion fee?+
Foreign exchange fees are 0.2% to 2.5%. The exact amount can therefore vary, so overseas purchases and ATM withdrawals may cost more than transactions made in the card's base currency.
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