The main draw is the confluence itself — the point where the grey-green Pindar meets the Alaknanda is easy to reach on foot from the bazaar and is especially atmospheric at dawn. The Karna and Uma temples nearby are worth a short visit even if you are passing through.
Karanprayag is one of the better staging points for treks toward the Pindari Glacier and Roopkund Lake. Both routes head into serious mountain terrain, so most visitors arrange guides or join organised groups from Rishikesh or Kathgodam rather than going independently.