Twins or tentacles: Gemini vs. Kraken
Sep 23, 2025・5 min read
When it comes to U.S.-based crypto exchanges, Coinbase still dominates, often moving billions in daily volume. But it’s not the only game in town. Traders who want a regulated American CEX have other options, and two of the strongest are Gemini and Kraken. Both score high marks on security and compliance, but they each offer features that appeal to different types of investors.
If you’re weighing Gemini versus Kraken, a side-by-side look makes the differences clear. Once you know how each exchange works, it’s easier to pick the one that fits your needs.
What’s Gemini?
Gemini is a U.S.-based crypto exchange founded in 2015 by twin brothers Cameron and Tyler Winklevoss. After their high-profile lawsuit with Facebook’s Mark Zuckerberg, the twins invested heavily in Bitcoin (BTC) when it was trading for $1,000 per coin. That early bet made them Bitcoin billionaires and provided the capital to create one of the most compliance-focused centralized exchanges (CEXs) in the United States..
Headquartered in New York, Gemini is known for its strict focus on regulatory compliance, particularly in North America. This approach limits its international footprint and reduces its pool of altcoins, but it also makes Gemini one of the few exchanges licensed to operate in all 50 U.S. states. On its desktop and mobile apps, users can buy, sell, and swap cryptocurrencies through either a simple interface or the more advanced ActiveTrader platform. Depending on jurisdiction, Gemini also provides additional services such as crypto derivatives, a credit card, staking, and a decentralized wallet.
What’s Kraken?
Launched in 2013, Kraken is one of the oldest and most respected U.S.-based CEXs. Like Gemini, it emphasizes security and compliance, offering both a beginner-friendly interface and the more advanced Kraken Pro suite. Unlike Gemini, however, Kraken has prioritized scaling by working with lawmakers in international markets, giving it a broader global reach and access to a much larger pool of altcoins.
Kraken supports hundreds of cryptocurrencies and offers additional products to eligible U.S. users, including stocks and leveraged crypto derivatives. Other standout features include 24/7 customer support, staking rewards, and a self-custodial wallet.
Gemini vs. Kraken: Key differences
Both Gemini and Kraken rank among the most secure and compliance-focused CEXs, making them popular choices for crypto traders of all levels. While they share many similarities, the two platforms differ in areas like fees, global reach, product offerings, and customer service..
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How to choose between Gemini versus Kraken
In some regions, crypto traders may not have a choice between Gemini and Kraken since the two exchanges don't always overlap. For example, at the time of writing, residents in New York and Maine can only use Gemini. Where both platforms are available, the decision often comes down to fees, supported assets, and extra features.
Typically, Gemini appeals more to beginners and institutions, while professional traders tend to prefer Kraken. Gemini combines a seamless UI/UX with strict regulatory standards, which makes it attractive for new users entering digital assets or entities that need custody solutions with high compliance standards. By contrast, Kraken Pro offers customizable features, technical indicators, and access to cryptocurrencies, derivatives, and stocks, making it a more comprehensive platform for advanced traders. Kraken also sees higher average trading volumes, reducing risks like slippage and slow order execution.
However, the picture isn’t always so simple. For example, while Gemini is often seen as beginner-friendly, Kraken offers lower fees for instant buys on its standard platform. On the other hand, Gemini’s ActiveTrader platform provides many similar tools with competitive maker/taker fees, especially for traders with lower monthly volumes. Ultimately, choosing between Gemini and Kraken depends on which features are essential to your trading strategy and which exchange better aligns with your needs.
No matter the exchange, CoinTracker simplifies crypto taxes
Accurate crypto tax reporting requires detailed records of every transaction, both on and off CEXs. CoinTracker connects with over 500 exchanges and wallets, plus thousands of smart contract protocols, to deliver the most complete picture of your crypto transfers. Beyond calculating cost basis, CoinTracker's Portfolio Tracker also accounts for income from activities like yield farming and staking, ensuring IRS-compliant forms.
Whichever exchanges or wallets you use, a CoinTracker account helps reduce the stress of reporting and filing your cryptocurrency taxes. Get started for free and see why millions trust CoinTracker for reporting their crypto taxes.
FAQ
Is Gemini safer than Kraken?
Both Gemini and Kraken maintain high compliance and security standards. Gemini offers insurance protections on USD balances and some digital assets that Kraken does not. Kraken also reported a $3 million exploit on its Treasury in 2024, while Gemini has not disclosed any fund hacks at the time of writing. Overall, both exchanges rank among the safest CEXs, with strong transparency and regulatory records.
Does Gemini have lower fees than Kraken?
No. On Gemini’s beginner-friendly platform, instant buys and recurring purchases cost more than on Kraken. However, Gemini ActiveTrader has a maker/taker fee schedule that is similar to, or in some cases cheaper than, Kraken Pro.
Does Kraken or Gemini have more coins?
At the time of writing, Kraken lists over 480 cryptocurrencies, while Gemini supports just over 70 coins and tokens.
Is Gemini or Kraken better for beginners?
Both platforms are beginner-friendly. Some users find Gemini’s UI/UX more intuitive, while others prefer Kraken’s layout. The best way to decide is to try both and see which interface feels more comfortable.
Disclaimer: This post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.