In our comparison of Kraken vs Coinbase, we’ll compare the features of these two popular exchanges, highlighting the advantages and disadvantages of each. While the interfaces of both exchanges are very similar, Kraken is able to offer advanced features. For instance, you can place Stop Market and Stop Limit orders, which allow you to set a price limit in relation to the current market price. You can also attach a Stop Loss and Take Profit to any order you’ve created.
Kraken has low transaction fees, while Coinbase charges different fees based on how much you trade. A typical transaction fee is 0.26%, and you can get a lower fee if you spend more than a certain amount. Both exchanges are easy to use, although Coinbase may be the more popular choice for new investors. The ease of use of both platforms is also a factor. Additionally, both exchanges offer a wide variety of trading pairs, including bitcoin, ethereum, and litecoin. Both exchanges are rated as reputable, which may influence their user reviews. Moreover, both exchanges are audited, so you can trust that your funds are safe.
Both exchanges offer two-factor authentication. These authentications can be set up using Google Auth, a mobile phone, or a security key such as a Yubikey. Coinbase doesn’t support users in New York, Cuba, Japan, or Iran. Kraken also offers better customer service tech deck ramps, which is crucial when it comes to cryptocurrency trading. Its 24-hour customer support is an added bonus, and Coinbase also offers phone support.
Among the benefits of Coinbase, Kraken caters to high-dollar investors in crypto. Its white-glove service enables investors to make significant investments outside the main exchange. In addition, it offers market-expert consultations to help traders execute their trades. Moreover, it facilitates large crypto purchases. Lastly, both exchanges offer educational resources for beginners, including tutorial videos and white-glove services for large purchases.
One of the key differences between Coinbase and Kraken is the type of trading they offer. For beginners, Kraken’s margin trading can be intimidating, but even professionals can make good use of it. Kraken, for example, allows you to borrow on margin to go short or long. If you’re new to crypto trading, you’ll probably want to take the time to get familiar with the basics of both exchanges before making a decision.
For cryptocurrency beginners, Kraken provides multiple options for withdrawal, and has a variety of fee structures for both services. Beginner accounts can withdraw up to $5,000 per day, while intermediate and pro market players can withdraw as much as $10,000,000 daily. Despite its low fees, Kraken isn’t perfect for every user. The downside of Kraken is the low withdrawal limits. You’ll need to be able to withdraw a minimum amount of BTC in order to withdraw a significant amount.
