Whether you are a beginner or a professional Coinbase and Kraken are some of the most popular cryptocurrency exchange platforms that will get your attention for sure. As they both provide industry-level trading services choosing either from them is pretty difficult for sure.
Especially when you are serious about starting in the cryptocurrency as an established trader, investing for better and reliable exchange platforms is very important to make sure you don’t miss out on any trades. So let’s start our quick comparison.
Coinbase Exchange vs Kraken Exchange
If you are visiting the market regularly then you may already know that both Coinbase and Kraken provide almost the same services. Still, there are many differences in certain factors about both platforms. What type of service do they offer? how much do they charge per transaction? We’ve collected some essential features and created a quick comparison to help you.
Coinbase is among the top cryptocurrency exchanges in the market at the moment. Initially founded in 2012 Coinbase provides industry-level exchange services to its consumers. A higher value for money score compared to Kraken Coinbase sure stands out from others when it comes to providing the best trading services with robust security measures.
No matter whether you are a U.S resident or not, if you are searching for a platform that offers fast and reliable service with extra rewards for staking, storing your digital currencies safely, and more activities related to the crypto industry. With around 13.3 million active users in more than 100 countries around the world, Coinbase won’t disappoint you when it comes to quality services.
- Offers a low account minimum ($2)
- More payment options, (Debit card and Wire transfer methods are usable)
- Provides an excellent user interface for its customers
- The user educational library is a great way to learn and earn together
- 0.50% trading fees
- Doesn’t offer margin or futures trading
- No additional human assistance is provided
Around in the market for almost a decade now, Kraken is also one of the top cryptocurrency trading platforms at the moment. The U.S based Kraken is known for its excellent security and overall safety precautions. Not to mention it has increased the competition in the market among the race of becoming the best crypto trading platform for newcomers.
Features like Universal two-factor authentication (U2F) with a hardware key are highly recommended for keeping the funds secure from potential threats. Unlike Coinbase it requires the withdrawal addresses to go through a verification process. So the withdrawal is accurate and safe that is only possible on whitelisted addresses. Still, there are a lot of other features that Kraken provides to its users let’s go through them.
- Provides analytical tools for a better understanding of the market
- 0% to 0.25% trading fees which is affordable
- Offers more trading options
- Excellent 24/7 customer support to quickly sort out the problems
- Supports a few more cryptocurrencies compared to Coinbase
- Only operates in the U.S
- Has limited payment options
- Using Kraken for beginners can get difficult
- Doesn’t provide an option for a digital wallet
When looking at the key features and services of both platforms there’s a possibility that you will choose one over the other. As it can highly depend on your requirements and preferences for the crypto trading process.
In conclusion, choosing either of them won’t let you down. But if you are passionate about cryptocurrency trading and looking forward to getting your hands on more advanced options then Kraken is better according to us. Do share this comparison if it helps you, and don’t forget to mention which one you choose among these two.