Kraken 對比 Bullish：這些加密貨幣交易所如何比較

If you’re new to crypto, choosing the right exchange is a crucial step that will shape your digital asset journey. But with so many options now available, as well as important factors to consider such as fees, customer support, and trading tools, finding the platform that is best for you can be daunting.

Kraken is a long-established name dating back to 2011 and with millions of clients across the world. With a range of investment products suited to all experience levels, industry leading customer support and hundreds of assets available, Kraken stands out from the competition.

Bullish has a strong institutional focus and appeals to professional investors with its central limit order book and automated market making combination that delivers tight spreads and deep liquidity in supported markets.

Before you choose, it’s important to know the core principles, security practices and key capabilities of each exchange so you can make an informed decision.

This Kraken vs. Bullish comparison breaks down several common and crucial aspects to help you choose which platform is best suited to your goals.

Kraken 於 2011 年在美國成立，是加密貨幣行業最早且最知名的品牌之一。在 Bitcoin 首次亮相後不到兩年即推出，該交易所因其對安全性、營運透明度和優質用戶體驗的強烈關注而贏得了全球認可。

如今，Kraken 為超過 190 個國家的逾 1,500 萬客戶提供服務。其產品範圍從面向個人投資者的旗艦 Kraken 平台，到透過 Kraken Pro 平台和 Kraken Desktop 應用程式為進階和機構交易者提供強大的一站式交易平台。

Kraken 的機構套件涵蓋現貨、保證金、期貨市場、質押和合格客戶的 OTC 交易。Kraken 還透過 Kraken Learn 大力投資教育，支援新手和經驗豐富的交易者。

Kraken 總部位於懷俄明州，透過常規的 Proof of Reserves 致力於問責制，這是其早在 2014 年就引入行業的做法。它也是第一家在 Bloomberg Terminal 上市的加密貨幣交易所，有助於彌合傳統金融與數位資產之間的鴻溝。

Kraken 在美國、加拿大、英國、歐盟等主要市場擁有監管牌照，並在 Mt. Gox 債權人索賠等案件中提供協助，因此建立了穩定、合規營運的聲譽，使其成為尋求安全可靠、經久不衰的加密貨幣交易所的用戶信賴之選。

Founded in 2020 by Brendan Blumer, Bullish is a cryptocurrency exchange with a strong emphasis on regulatory compliance, transparency and institutional-grade market infrastructure. The platform caters to professional and institutional players over retail, offering its services in 50+ jurisdictions. As of 2025, it trades publicly on the New York Stock Exchange (NYSE:BLSH).

Bullish’s stack consists of spot, margin and derivatives trading, complete with modest levels of leverage. Its modern infrastructure is engineered to support high volume and API usage, making it particularly attractive to quantitative traders, market makers and institutions. Beyond its core offering, it also recently launched Bullish Social — a blockchain-based Web3 social platform.

Bullish’s well-rounded suite, high-throughput design and commitment to compliance separate it from some of its offshore competitors who operate with less regulatory clarity. As a professional venue, it also stands out against consumer-oriented platforms and legacy exchanges.

Bullish doesn’t target global accessibility, favoring jurisdictions with regulated markets over worldwide coverage. Additionally, it is much more restricted in both its asset support and its maximum leverage than retail-focused competitors.

These are not necessarily downsides for serious traders and institutional investors. However, consumers may be better served by competitors with familiar interfaces, better accessibility and broader asset listings.

As one of the longest standing cryptocurrency exchanges, Kraken’s reputation and consistency over the years have attracted a loyal and ever-growing clientbase. Founded in 2011 and headquartered in Wyoming, it has thrived in bull and bear markets alike, delivering a secure, trustworthy and innovative investment platform.

Kraken’s deep-rooted commitment to security and transparency still shines through today. With their powerful infrastructure combined with compliance-ready products, clients can trust that their funds and data are safe.

While Bullish specializes in institutional-grade trading, Kraken provides the best of both worlds — offering user-friendly solutions for entry-level investors, as well as advanced tools for high value traders.

Kraken 的產品生態系統旨在支援各種交易風格和經驗水平。用戶可透過其精簡的流動應用程式隨時隨地進行交易，或透過 Kraken Pro 使用更進階的工具，Kraken Pro 提供詳細圖表、自訂訂單類型和實時市場數據。

該平台支援所有用戶的現貨交易，並在合資格地區提供保證金交易（高達 5 倍槓桿）和期貨合約（高達 50 倍槓桿）。機構客戶和高淨值客戶可透過 Kraken 的 OTC 服務台和 Kraken Prime 產品使用額外服務。

除了交易，Kraken 還提供超過 21 種資產的加密貨幣質押服務，獎勵高達 17% 年化收益率，具體視乎幣種和網絡狀況而定。用戶可以直接透過平台質押 Ethereum (ETH)、Solana (SOL) 和 Cardano (ADA) 等資產，從而被動賺取收益。

Kraken 還透過Krak 支援全球數碼支付，此功能讓用戶無需交易費即可發送加密貨幣或現金。

於 2024 年，Kraken 發佈了其基於 Optimism 的 SuperChain 建構的 Ink Layer-2 網絡，為中心化交易所和熱門 DeFi 協議之間提供了無縫橋樑。

對於那些希望加深金融知識的人，Kraken Learn 提供教育資源，涵蓋從區塊鏈基礎知識到高級交易策略的所有內容。

Bullish focuses on providing a regulated trading environment, with products aimed at high networth individuals and institutional clients. Its core offering is spot and margin trading with up to 3× leverage for eligible users, as well as perpetual and dated futures contracts on major cryptocurrencies like BTC, ETH and SOL with up to 7x leverage.

These derivatives are only offered in select jurisdictions to professional and institutional traders. Bullish also provides API access for algorithmic traders, alongside connectivity options designed to handle high-volume strategies.

Recently, Bullish has expanded its ecosystem through Bullish Social, a Web3 social platform where users can connect, share content, and interact with token-based features.

Kraken provides a wider, more comprehensive product set than Bullish. Beyond core spot and margin trading, it offers futures and margin trading, stock and ETF investing, zero-fee global payments, advanced staking and emerging services such as ICO access, AI-driven automation and access to proprietary funding.

On Kraken, clients have more markets, tools, and opportunities in a single platform. This breadth and pace of innovation are why many choose Kraken over Bullish.

客戶可在 Kraken 上交易超過 600 種加密貨幣，包括 Bitcoin (BTC) 和 XRP (XRP) 等主要貨幣，以及各種山寨幣，從 迷因幣 到 流動質押代幣。

在 Kraken 應用程式中，亦可直接交易超過 11,000 種免佣金的 ETF 和股票。對於符合資格地區的客戶，他們可以投資 xStocks，這些是這些股票的代幣化版本。
Kraken 支援十種主要法定貨幣的提款和存款，讓全球客戶能夠快速方便地為其帳戶注資。

支援的法定貨幣包括：

• USD（美元）

• CAD（加元）

• GBP（英鎊）

• EUR（歐元）

• JPY（日圓）

• AUD（澳元）

• CHF（瑞士法郎）

• ARS（阿根廷披索）

• MXN（墨西哥披索）

• BRL（巴西雷亞爾）

亦支援 15 種 穩定幣，包括 Tether (USDT)、USDC 和 USDG。

Bullish’s offering is limited with a little over 50 cryptocurrencies available, six stablecoins and two different fiat currencies with USD and EUR.

Many of the supported assets on Bullish are restricted by the specific regions’ legal requirements.

Kraken appeals to users who want access to hundreds of cryptocurrencies and thousands of commission-free ETFs, all from within the same streamlined platform.

From leading tech stocks such as Tesla and Apple, to DeFi tokens and memecoins, Kraken not only supports the most popular assets across TradFi and crypto, but also provides powerful tools for trading these assets.

Kraken 的交易量分級收費模式清晰透明，以支援專業交易者和休閒投資者。

掛單手續費從 0.25% 起，吃單手續費為 0.40%，同時亦為高交易量的個人和機構提供折扣。透過 Kraken+ 訂閱服務，符合資格的客戶在特定每月交易量範圍內可完全免除這些費用。

大部分加密貨幣和法定貨幣存款均為免費，但某些交易方式和特定資產除外。Kraken 還強調透明度，在交易確認前會顯示所有費用，確保客戶預先了解所有費用，避免產生意外的高昂費用。

Bullish offers competitive maker and taker fees, charging no maker fees on spot markets, while taker fees start at 0.01% but vary depending on trading volume, market and location. For margin and derivatives, fees are volume-based and differ by product, with details published in Bullish’s fee schedule.

Fiat deposits and withdrawals are only supported in USD and EUR, and associated banking fees depend on the method used. Users should check the latest information, as costs vary by region and payment type.

While Bullish might appeal to high-value traders and institutions thanks to their competitive pricing, Kraken’s equally competitive volume-based fees is a model friendly to beginners and experts alike.

Clients also benefit from Kraken’s broad fiat support — including USD, EUR, GBP, JPY, and more — making deposits and withdrawals more flexible compared to Bullish’s limited USD and EUR coverage.

Additionally, Kraken reinvests its fees into core business areas such as the exchange’s award winning customer support, industry leading security and an expanding product set.

Kraken 被廣泛認為是業內最安全的加密貨幣平台之一。自成立以來，Kraken 從未發生過導致客戶資金損失的洩露事件，這是其他交易所鮮能提出的聲明。客戶受惠於多層賬戶保護，包括帶通行金鑰的 2FA、PGP 電郵加密、帶範圍限制的精細 API 金鑰權限、可配置的賬戶超時設定、可疑活動的實時監控、提款白名單和主金鑰設定。

Kraken 於 2014 年率先推出儲備證明，並透過定期、可獨立驗證的審計，持續引領行業。此密碼學程序允許客戶隨時親自檢視其賬戶餘額如何由實際資產支援。Kraken 還持有 ISO/IEC 27001:2013 認證、符合 SOC 2 Type 2 審計，並營運一個強大的公開錯誤獎勵計劃。

Bullish emphasizes a regulatory-first approach, operating under the supervision of the Gibraltar Financial Services Commission. The platform employs a layered security model, including two-factor authentication (2FA), encryption of data in transit and at rest, as well as strict withdrawal controls.

User assets are primarily held in cold storage, with only a small portion kept in hot wallets for liquidity purposes. Bullish also integrates real-time risk monitoring and institutional-grade custody standards.

While it has not experienced any major security breaches since launch in 2021, Bullish does not currently publish Proof of Reserves. Instead, it relies on regulatory compliance and third-party audits to verify solvency and asset protection.

Kraken is recognized as one of the most secure exchanges in the world. The majority of assets are held in offline cold storage, supported by regular Proof of Reserves audits and over a decade-long history without major breaches.

While Bullish emphasizes regulatory compliance and institutional safeguards, Kraken’s long track record of security and transparency provides greater reassurance to retail and institutional clients.

Kraken 以其快速響應和專業的客戶服務而聞名，提供多種支援渠道以滿足不同的用戶需求。客戶可以透過真人客服全天候 24 小時即時聊天，透過電郵提交請求，或（在特定情況下）直接透過電話與支援專員通話。

Kraken 的多語言支援團隊可以為超過十種語言的用戶提供協助。這有助於公司更有效地服務其全球客戶群。

該交易所還在客戶滿意度方面贏得了高分，並在 Customer Centricity World Series 中被評為「歐洲最佳 AI 客戶體驗應用獎」得主。其專注於清晰度、同理心和解決問題的速度，持續在競爭激烈的市場中區分 Kraken 的客戶體驗。

Bullish provides customer support through its Help Center, email and ticketing system. Clients can browse self-service articles or submit a request for assistance via the platform.

Unlike Kraken, Bullish does not currently offer live chat or phone support, and available language coverage is limited to English. Its support services are more limited in scope compared to leading competitors such as Kraken, who provide real-time assistance and multilingual support across a number of different communication channels.

Kraken appeals to users who want access to hundreds of cryptocurrencies and thousands of commission-free ETFs, all from within the same streamlined platform.

From leading tech stocks such as Tesla and Apple, to DeFi tokens and memecoins, Kraken not only supports the most popular assets across TradFi and crypto, but also provides powerful tools for trading these assets.

Kraken and Bullish both emphasize security and regulatory compliance, but they take different approaches. Bullish is a newer, institutionally focused exchange with tight spreads and low fees, but it has limited fiat support, a narrower range of assets and restricted customer service. Its design appeals to advanced traders who value regulated infrastructure and a streamlined experience.

By contrast, Kraken offers a more comprehensive platform for both individuals and institutions. With 500+ supported digital assets, advanced trading features, crypto staking, Proof of Reserves audits, and 24/7 multilingual support, Kraken is built for clients who want transparency, choice and long-term reliability.

Bullish may appeal to institutional participants seeking a regulated environment, but for most retail and professional traders, Kraken provides the broader, more versatile option.