Kraken and Coinbase are certainly two of the most reputable, popular and trusty cryptocurrency exchange platforms to ever grace the cryptocurrency ecosystem since its inception.
Being some of the longest serving cryptocurrency exchanges, they have both served as the advance guards of the revolutionary blockchain technology.
To compare kraken and Coinbase we are going to look at their key features as follows:
Part 1: Kraken VS Coinbase Overview
Kraken and Coinbase are both crypto buying and selling platforms. However, Coinbase is much more user friendly compared to Kraken. Coinbase allows beginners to easily trade with flat currencies on its platform. On the other hand Kraken attracts cryptocurrency professionals who trade cryptocurrency for cryptocurrency.
For more information you can read my Kraken review here
Essentially, Kraken is extremely complex compared to Coinbase which is usually termed as a lot simpler to use. All in all, the biggest difference between the two is in terms of the target groups. Coinbase is best for starters while Kraken is best for experienced professionals. Access our Coinbase review here for more information.
Part 2: Kraken Vs Coinbase which is the better option?
The answer to this question will depend on your level of experience. If you are an established professional who looks to actively trade exclusively via cryptocurrency pairs only, then Kraken is your option. In contrast, Coinbase is much more approachable and the best option for beginners. Moreover, Coinbase offers new traders with $10 worth of free BTC as a way of saying a big thank you for your continued support. Click on this link to get your free BTCs today.
Part 3: Kraken Vs Coinbase in terms of trading efficiency.
In this part we try to determine which one is more efficient:
- Coinbase supports only Bitcoin, Ethereum and Litecoin cryptocurrencies. Kraken supports the three plus 14 more altcoins hence much more diversified.
- While Coinbase is available only in 32 countries Kraken is available in almost every country globally. It is however subject to your country’s laws and limitations.
- Coinbase charges a transaction fee of between 1.49% and 3.99%. In contrast, Kraken charges a dismal 0 to 0.25% transaction fee.
- Coinbase allows transaction limit of only $50,000 per week. For Kraken, the limit is $2,500 per day to $200,000 every month depending on your account tier.
Part 4: Kraken vs Coinbase which is safer?
Coinbase and Kraken are both legitimate platforms that have a big reputation behind them. They operate legally and practice the following safety regulations to ensure your funds are safe.
- User funds are kept away from company’s funds to avoid misappropriation
- Funds are stored offline to protect them from malicious hacks
Additionally, Coinbase offers an FDIC insurance cover against fund losses for its users.
Part 5: Kraken Vs Coinbase final verdict
We can conclude that:
- Kraken and Coinbase are both very safe and secure
- Coinbase is the most popular due to its user friendly design that makes buying and selling cryptocurrency very easy.
- Kraken is very attractive to the experienced traders due to the low transaction charges though a big turn off to the beginners due to its complex designs.
What’s more? Coinbase is rewarding new users every day. You can also get your 10 USD worth of BTC by using this Coinbase Promo Code today. Do not be the last to board the wagon, start your journey into financial freedom with us. Get all the information you need to ensure successful crypto trading.
Read more about Coinbase comparison: