Crypto.com vs Kraken

Both cards serve EEA and UK users, creating genuine competition in the European market. Crypto.com operates on Visa. Kraken operates on Mastercard. Both networks have near-universal acceptance across Europe.

Crypto.com has operated its card program since 2018, giving it the longest track record in the industry. Kraken launched its European card in 2024, entering the market shortly after Binance's December 2023 EEA exit.

Crypto.com also serves the US, APAC, LATAM, and other global markets. For non-European users, Crypto.com is the only option between these two.

Both charge 0% FX fees and $0 annual card fees (Crypto.com subscriptions are separate from card fees). Both support Apple Pay and Google Pay.

Both cards charge zero transaction fees. The difference is in cashback structure: Kraken's flat 1% uncapped versus Crypto.com's tiered rates with monthly caps.

At $1,250/month, Crypto.com Plus hits its $25 cashback cap. Every dollar beyond that earns nothing. Kraken's uncapped 1% keeps scaling. At $3,000/month pure cashback: Kraken $30/month versus Plus $20/month (cashback only, before Spotify). Only the $13/month Spotify rebate pushes Plus marginally ahead at $33 total.

At $5,000/month, the cap gap widens. Kraken earns $50/month in cashback. Plus still earns $20/month in cashback (cap hit). Pro earns $45/month in cashback (cap hit, after $29.99 subscription). Kraken outperforms both capped tiers on pure cashback at high spending levels.

Only Crypto.com Private ($50,000 CRO stake, 4% uncapped) decisively beats Kraken at every spending level: $200/month versus $50 at $5,000/month. But Private requires locking $50,000 in CRO for 12 months.

Both cards use custodial prepaid/debit models where crypto is converted at the point of sale, creating a taxable disposal on every transaction. The tax treatment is identical.

Kraken supports over 400 cryptocurrencies for direct card spending - the broadest asset support of any card on SpendNode. Crypto.com supports 6 assets (USD, CRO, BTC, ETH, USDT, USDC).

This is the widest asset gap in any comparison involving Crypto.com. A Kraken user holding DOT, AVAX, ATOM, MATIC, or hundreds of other tokens can spend directly without converting first. A Crypto.com user must sell any altcoin for one of 6 supported assets before spending - creating a taxable conversion event and adding friction to every transaction.

Kraken converts at mid-market exchange rates with no hidden spread markup. Crypto.com charges no explicit spread but does not publish guaranteed mid-market pricing. For transparency-conscious users, Kraken's rate guarantee is a meaningful advantage.

Kraken offers cashback, yield, and transparent fees. No streaming rebates, no lounge access, no metal cards, no concierge.

Crypto.com's Pro tier and above add lifestyle value no other crypto card can match:

• Plus ($4.99/mo or $500 CRO): 100% Spotify rebate ($156/year)
• Pro ($29.99/mo or $5,000 CRO): Spotify + Netflix ($348/year combined), airport lounge access (4 visits/year for annual subscribers), metal card
• Private ($50,000 CRO): All above + unlimited lounge with guest, priority support

For a European who uses Spotify ($13/month), watches Netflix ($16/month), and flies through hub airports quarterly (4 lounge visits at approx. $40 each = $160/year), Crypto.com Pro's perk value reaches approximately $668/year. Kraken's maximum annual perk value: $0.

The perk calculation creates a total value comparison that changes the verdict:

• Kraken at $3,000/month: $360/year cashback + $720 yield ($20K balance) = $1,080/year total
• CdC Pro at $3,000/month: $888/year cashback + perks (after subscription) + $0 yield = $888/year
• CdC Pro + genuine perk use: $888 + $668 actual perk value = $1,556/year

When a user genuinely uses all Pro perks, Crypto.com's total value ($1,556) exceeds Kraken's ($1,080). When perks go unused, Kraken wins.

Kraken: 3.6% APY automatically on eligible stablecoin and fiat balances. No lockup, no opt-in. A $20,000 balance earns approximately $720/year passively.

Crypto.com: CRO staking yield scales with tier but requires 12-month lockups. Non-CRO assets do not earn yield through the card. The card program is designed around spending rewards and lifestyle perks, not passive yield.

For a user holding $20,000 in diverse crypto, Kraken earns $720/year in passive yield. The same user on Crypto.com earns $0 yield unless they convert to CRO and stake. This yield advantage is particularly important for users who hold significant balances but spend moderately.

Subscribing to Crypto.com Pro ($29.99/month) for cashback without checking the cap math against Kraken. Pro's 3% rate caps at $75/month, maxing out at $2,500/month spending. After the $359.88/year subscription, annual net cashback is $540 (12 x $75 - $360). Kraken at the same $2,500/month spending earns $300/year in cashback with zero subscription cost. The cashback gap is $240/year in Pro's favor - but Pro costs $360/year in subscription. Net result: Kraken earns $300 for free while Pro earns $540 at a $360 cost, producing $180 in net value versus Kraken's $300. Pro only makes financial sense when Spotify ($156/year) + Netflix ($192/year) + lounge visits are genuinely used. Without the perks, Kraken's zero-commitment model is mathematically superior. How to avoid it: Before choosing Pro, add up the annual value of perks you actually use. If Spotify + Netflix + lounges exceed $120/year in value to you, Pro wins. If not, Kraken delivers more net value.

Dismissing Kraken's 1% as too low without factoring in the 3.6% APY and 400+ asset support. A user who sees "only 1% cashback" may overlook Kraken's total ecosystem. Combined cashback ($360/year at $3,000/month) and yield ($720/year on $20,000 balance) produce $1,080/year with zero commitment. Crypto.com Plus produces $396/year (with Spotify) at $60/year subscription cost. Kraken's total is 2.7x higher than Plus. Even Pro at $888/year (with all perks, after subscription) is 18% below Kraken's total when yield is included. How to avoid it: Compare total annual returns including yield, not just cashback rates. If you hold significant idle balances, Kraken's 3.6% APY can outweigh higher cashback rates from capped Crypto.com tiers.

For zero-commitment European spending: Kraken with 1% uncapped cashback, 400+ assets, 3.6% APY automatic yield, and truly zero fees. No staking, no subscription, no caps, no complexity.

For perk-optimizing European spenders: Crypto.com Pro with Spotify, Netflix, and lounge access delivers $500+/year in lifestyle perks that Kraken cannot match. Worth it if you use the perks. Not worth it if you do not.

For high-volume spenders above $3,000/month: Kraken's uncapped 1% beats Crypto.com's capped Plus and Pro tiers on pure cashback. Only Private ($50K CRO stake, 4% uncapped) outperforms at scale.

For non-European users: Crypto.com is the only option between these two, available globally.

Outlook: Crypto.com is launching up to 15% travel rewards at higher tiers in 2026, further strengthening its position for frequent travelers. Kraken's card program is relatively new (2024) and may introduce higher cashback tiers or additional features as it matures. The competitive balance in Europe could shift if Kraken raises its cashback rate above 1% - which would directly undercut Crypto.com's capped lower tiers. Watch for both developments through 2026.