Cash App vs Kraken

Cash App and Kraken both operate in the exchange and brokerage space, but they take fundamentally different approaches to how your bitcoin is held. The scores are close — Cash App at 69/100 (B-) and Kraken at 68/100 (B-). When the gap is this narrow, the details matter: custody model, single points of failure, and the fine print on fees.

Where Each Platform Wins

Custody and security — the most heavily weighted category in our methodology at 35% — tilts 10 points toward Cash App (60 vs. 50). Both platforms carry single-point-of-failure risk, but Cash App mitigates it more effectively through its Single Custodian approach. On fees, Kraken wins by 5 points. Kraken charges 0.16% - 0.26% compared to ~1.5% - 2.2% at Cash App. Over a multi-year holding period, fee differences compound — a point worth considering for long-term accumulators. Kraken stands out on transparency (70 vs. 60), reflecting Kraken's approach to proof-of-reserves and public documentation.

The Custody Question

Neither Cash App nor Kraken has fully eliminated single-point-of-failure risk. Cash App uses Single Custodian and Kraken uses Single Custodian. Both models leave your bitcoin exposed to custodial concentration risk — if that one entity fails, your bitcoin could be locked, seized, or lost. For long-term holders, this is the most important factor to weigh.

Bottom Line

Cash App edges out Kraken by 1 points. It's a close call, and the right choice depends on your specific situation — how much bitcoin you're holding, how often you need access, and whether you prioritize easiest onboarding. auto-invest feature. lightning withdrawals. over competitive fees. proof of reserves published. strong security track record.. Keep in mind these platforms target different audiences — Cash App is built for beginners, while Kraken serves traders. One thing to watch with Kraken: single custodian. broader crypto exchange, not bitcoin-focused..