Cryptocurrency trading is something that’s each popular and exciting. Since the crypto market is way more volatile than the normal stock market and even fiat currencies, there’s the potential to earn lots of money quickly. If you happen to’re selecting a crypto trading platform, chances are you’ll be comparing Kraken vs. Coinbase before you make your first crypto trade.
Selecting the proper cryptocurrency exchange is crucial. Things like fees, available cryptocurrencies, and other features may all play into your decision. Some exchanges charge greater than others and offer advanced trading features, and a few are transparent about their fees while others aren’t. One of the best technique to be certain that you’re getting value in your money is to contemplate all options along together with your personal preferences and risk tolerance.
On this review, we’ll compare Coinbase vs. Kraken to aid you make an informed decision about which crypto exchange is best for you.
Pro Tip:
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Kraken vs Coinbase – Overview
To match Coinbase vs Kraken, let’s start with a fast overview of every, so you may understand what they provide.
Kraken
Kraken is a United States-based cryptocurrency exchange that’s headquartered in San Francisco. It got its start in 2011 and is certainly one of the oldest crypto exchanges on the planet.
In 2014, Kraken became the primary Bitcoin exchange to be listed on Bloomberg Terminal. As of 2024, the corporate is value greater than $2 billion.
Traders can purchase and sell 311 cryptocurrencies on Kraken as of the time we’re writing this review. A few of the features that set Kraken apart include 24/7 customer support, state-of-the-art security, margin trading, and advanced analytics to assist users utilize advanced trading features.
Coinbase
Coinbase got its start in 2012 and is a publicly-traded company. Like Kraken, it’s certainly one of the older crypto trading platforms.
Coinbase is larger than Kraken with a market cap of just over $78 billion. The corporate offers users the power to purchase, trade or convert greater than 240 digital assets and 300 trading pairs.
Coinbase’s unique features include state-of-the-art security with insurance to guard a few of users’ assets, cold storage, cryptocurrency staking, and free sending of crypto assets between Coinbase users.
Kraken vs Coinbase – Trading and Withdrawal Fees
Every crypto trading platform charges fees, so here’s our tackle each Coinbase and Kraken fees.
Kraken Fees
Kraken charges fees for quite a lot of activities, including trading and withdrawal fees. Here’s how they break down.
- Transaction fees range from 0.0001% as much as 0.40% depending on the asset being traded and the quantity of the transaction
- Margin fees: 0.02%
- ACH and CBIT withdrawals are free
- Wire withdrawal fees range from $4 to $35
There could also be fees charged for some coins that aren’t charged for others. You’ll be able to get a whole overview of Kraken’s fees on their fee schedule page, and which may be helpful when deciding which platform to make use of.
Coinbase Fees
Now, let’s take a look at Coinbase vs Kraken cryptocurrency exchanges and charges. Listed below are a few of the key fees charged by Coinbase.
- Transaction fees vary based on transaction amount, location, and other aspects and are disclosed before the transaction is complete; most are between 0.05% and 0.6%
- 35% commission for staking
- ACH withdrawals are free
- Wire withdrawal fee is $15
Coinbase wins in our comparison of Kraken vs Coinbase withdrawal fees, since its wire transfers are significantly inexpensive overall.
We would love it if Coinbase had more transparency about its trading fees, but each Kraken and Coinbase have complex fee structures. The complexity is baked into crypto trading since there are so many alternative assets to trade.
Pro Tip:
Join for Coinbase One Today and Receive $50 in Free BTC after your First Trade!
Kraken vs Coinbase – Features
The features offered by Kraken and Coinbase illustrate some necessary differences between the 2 platforms.
| Feature | Kraken | Coinbase |
| Security | Password protection; 2FA; 24/7 crypto structure surveillance; cold storage; state-of-the-art encryption | Password protection; 2FA; state-of-the-art encryption; insurance to guard users’ assets |
| Supported trades | Buy/sell/convert cryptocurrency; margin trading; futures; staking; derivatives | Buy/sell/convert cryptocurrency; staking; margin trading; leverage trading; derivatives |
| Cryptocurrencies | 311 to purchase and trade | 240+ coins plus 300 trading pairs |
| NFTs | Buy and sell NFTs | Buy and sell NFTs |
| Storage | Free crypto wallet | Free crypto wallet |
| Max Deposit/Withdrawal | $100,000 per day | $25,000 per day |
| Customer support | Online knowledge base; live support via chat, phone, or email | Online knowledge base; live chat and phone support; peer assistance from Coinbase community |
| User experience | Interface could also be confusing for some users | Users have praised Coinbase’s user-friendly experience |
Read the subsequent section to study additional features that include premium subscriptions. We feel that while Kraken has higher maximums for withdrawals and more room for possible complex trading strategies, Coinbase has more trading options, including coins and trading pairs, and has purchased insurance to guard users’ assets, making it the more feature-rich alternative.
Kraken Pro vs Coinbase Advanced Trade
Kraken Pro and Coinbase Advanced Trade are elevated versions of every platform’s basic model.
Kraken Pro will not be a premium subscription. It doesn’t cost anything to turn out to be a Pro user, but there are some security hoops to leap through. For instance, you’ll have to enable 2FA and supply a photograph ID. It might take as much as 3 days to be approved as a Kraken Pro user.
The first advantages of becoming a Pro user are that you simply’ll qualify for higher every day transaction and withdrawal maximums and lower trading fees.
Coinbase Advanced Trade is like Kraken Pro in that there may be no subscription fee and users can reap the benefits of lower rates. Each use a maker-taker model. Coinbase Advanced offers 0% fees for 22 stable pairs.
Advanced Trade users who transfer assets from one other platform can provide proof of their trading volume to qualify for 0% fees on most trades. The one downside here is that you simply’ll need $500,000 in monthly trading volume to qualify for the bottom rates, something most individuals outside of advanced traders can have lying around with the intention to achieve lower fees.
We should always add here that Coinbase also offers Coinbase One, a premium service that costs $29.99 monthly and offers boosted staking rewards, priority support, and 0% trading fees.
Coinbase vs Kraken: Which Exchange is Higher for You?
When comparing Kraken vs Coinbase, which cryptocurrency exchange is best for you? We consider that the easy user interface on Coinbase, plus the upper variety of coins available for trading and the insurance to guard traders, makes it one of the best alternative for beginners which might be in search of alternative investments to traditional fiat currencies.
Advanced traders may prefer the upper every day trading, margin trading, and withdrawal limits they’ll find on Kraken.
Each platforms offer rather a lot in the way in which of user security, trading options, customer support, and comparatively low trading costs. Each corporations have good customer support. We might give Coinbase a slight edge based on its user interface.
Pro Tip:
Join for Coinbase One Today and Receive $50 in Free BTC after your First Trade!
Conclusion
The important thing differences between Kraken and Coinbase are within the user experience and within the variety of cryptocurrencies available to trade. We might give Coinbase the sting on UX because its platform is beginner-friendly and easy to navigate. Kraken offers more crypto coins, but each offer an enormous selection.
While each Kraken and Coinbase are regulated by many institutions akin to FinCen and OFAC, it’s necessary that they largely adhere to local policies and are usually not registered with the SEC.
As we stated above, we’d recommend a Coinbase wallet for beginners and advanced investors may prefer Kraken for its high trading maximums, advanced features, and sometimes lower fees.
To match Coinbase to a different popular crypto platform, read ROBINHOOD VS COINBASE or ETORO VS COINBASE!
FAQs
Which exchange has lower fees?
There are lots of variables and Kraken is more transparent with its fees. Based on our experience, Kraken’s fees are barely lower, particularly at high volumes.
Is Kraken or Coinbase higher for beginners?
Coinbase has an easy and intuitive interface that we predict outperforms Kraken’s more complicated interface.