Kraken’s U.S. survey shows 79% of crypto users would accept slightly higher fees to use an exchange they trust, prioritizing trust and security over the lowest cost and changing how platforms compete.
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79% of U.S. crypto users prefer paying higher fees for a trusted exchange
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Top selection factors: trustworthiness (26%), fees (16%), security features (14%)
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Decentralized exchanges saw $478M in monthly volume, a 259% year-on-year increase (Dune dashboard)
Crypto exchange trust: 79% of U.S. users prefer trusted platforms even with higher fees — learn what matters and how to choose. Read COINOTAG’s guide now.
What did the Kraken survey find about crypto exchange trust?
The Kraken survey of 1,000 U.S. crypto users found 79% would pay slightly higher fees to use an exchange they trust. Respondents cited trustworthiness, fees, and security features as primary factors when selecting an exchange.
How do fees and trust rank among selection factors?
Survey breakdown: 26% named trustworthiness as the top factor, 16% prioritized fees, and 14% picked security features. Only 6% cited regulatory compliance and 7% named customer support as their main concern. These results show trust is now a leading differentiator.
Why are users willing to pay higher fees for trusted exchanges?
Trust reduces perceived counterparty risk after high-profile failures such as FTX’s collapse. Market maturity is shifting preferences toward platform reliability, asset safety, and usable tools, according to Mark Greenberg, global head of consumer at Kraken. Investors value long-term confidence over short-term savings.
How prevalent is multi-exchange usage among U.S. crypto users?
Kraken’s survey found 44% of respondents hold accounts on two exchanges and 26% use more than two. Users split activity across platforms to access listings, diversify platform risk, and separate trading from long-term holdings.
When do decentralized exchanges factor into user choice?
Decentralized exchanges continue to gain share: last month they generated $478 million in trading volume, a 259% increase versus $133 million a year earlier, per a Dune dashboard. DEX adoption reflects demand for non-custodial trading and alternative token listings.
What are the financial implications for centralized exchanges?
Fees remain a material revenue source: Coinbase reported transaction revenue was 53% of total revenue in Q2, totaling $764 million. Exchanges balancing trust and fee models may retain users even with higher fees if they demonstrate security and reliability.
Frequently Asked Questions
How much extra are users willing to pay for trust?
Kraken’s phrasing indicates respondents would pay “slightly higher fees.” The survey does not quantify an exact premium, but 79% signaled willingness to accept higher costs for perceived safety and reliability.
What role did past exchange failures play in responses?
High-profile collapses such as FTX and major breaches influence trust perceptions. Respondents referenced platform failures and data incidents when prioritizing safety over lowest fees.
Key Takeaways
- Trust wins: 79% prefer trusted exchanges even with higher fees.
- Selection mix: Trustworthiness, fees, and security are primary decision drivers.
- Action for users: Diversify across platforms and check security disclosures before committing large balances.
Conclusion
Kraken’s survey signals a market shift where crypto exchange trust increasingly trumps the lowest fees. As decentralized trading volume rises and centralized platforms face scrutiny, users and exchanges will likely focus more on security, transparency, and long-term reliability. COINOTAG will continue tracking these trends and provide guidance for choosing platforms that balance fees with trust.
