Coinbase and Kraken are two of the most popular and respected cryptocurrency exchange platforms. In the ever-evolving world of cryptocurrency, choosing the right platform can make a significant difference in the performance of your portfolio. Thus, this guide aims to help you understand the advantages and disadvantages of these platforms so that you can choose the best one for you.
We will examine aspects such as ease of use, transaction fees, security, and customer service. Regardless of your experience with cryptocurrency, this guide will give you a clear overview of Coinbase and Kraken.
Coinbase
- Regulated exchange
- An easy-to-use platform
- Free crypto training offered
Coinbase
What is Coinbase?
Coinbase was one of the first cryptocurrency exchange and trading platforms since being founded in 2012. Today, it is ranked #2 on CoinMarketCap and provides a reliable platform for buying, selling, and storing various digital assets, such as Bitcoin, Ethereum, Cardano, or stablecoins.
The company is based in the United States and is even listed on the Nasdaq exchange while maintaining operations in over 100 countries worldwide. Because of this, it is considered one of the most popular exchanges globally, with a very user-friendly interface and a large number of features that simplify the lives of traders, including:
- a mobile application
- a wallet for storing cryptocurrencies
- earning interest through staking andDeFi functionality
- advanced trading features for experienced traders
Coinbase also offers a service called Coinbase Pro, targeting professional traders. This ‘secondary’ platform provides access to even more advanced features and, importantly, offers reduced fees.
What is Kraken?
Like Coinbase, Kraken was also founded during the early days of crypto (2011) and has only grown in reputation since then. On this exchange, you can find high-cap tokens like Bitcoin, Ethereum, Ripple, or Cardano, as well as lesser-known projects. A very diverse offering indeed.
Kraken has a relatively strong reputation for security and has never been hacked, even being tasked to be a trustee for lost crypto from the Mt. Gox exchange. Aside from this, you continue to receive top-notch features and services you would expect from a leading exchange platform such as:
- spot trading and margin trading
- reliable and easy-to-use mobile wallet
- crypto rewards from staking
In short, this platform has everything one would expect from a cryptocurrency trading platform, and that is its main strength.
Kraken
- Great customer support
- Secure exchange
- Lower fees with Kraken Pro
Kraken
Coinbase vs. Kraken: Which Platform Offers More Cryptocurrencies?
Coinbase and Kraken are two giants in the world of cryptocurrency exchanges, but when it comes to the number of cryptocurrencies offered, which platform takes the lead?
Coinbase
Coinbase is a cryptocurrency exchange platform that provides a wide range of digital assets to its users. It has listed 241 cryptocurrencies according to CoinMarketCap that you can buy, sell, and store on the platform. These include both popular coins and altcoins, although Coinbase is known for being cautious about listing tokens from new projects.
Nevertheless, crypto traders have 394 crypto pairs for speculation. Additionally, Coinbase also provides services such as cryptocurrency education and rewards for learning, making it an attractive option for both beginners and experienced investors.
Kraken
Kraken is known for its extensive variety of available digital assets and more eagerly lists new tokens. At the time of writing, CoinMarketCap shows that there are 249 listed cryptocurrencies and 788 crypto pairs for trading. This goes to show that Kraken is committed to providing its users with a wide range of choices to diversify their cryptocurrency portfolios.
In addition to its broad range of assets, Kraken also offers additional services such as margin trading and cryptocurrency futures contracts. Whether you are a beginner or an experienced investor, Kraken provides numerous opportunities to explore the exciting world of cryptocurrencies.
Coinbase vs. Kraken: Number of Cryptos
Coinbase and Kraken are two of the most popular cryptocurrency exchange platforms in the market. Each has its advantages and disadvantages, and the choice between the two may depend on your specific needs as a cryptocurrency investor.
In terms of the number of cryptocurrencies available for trading, Kraken seems to have a slight advantage with a greater variety of choices when diversifying your cryptocurrency portfolios. However, it’s not just about quantity but also quality and Coinbase is often referred to as the most trusted crypto exchange because of its high-profile backers.
Coinbase vs. Kraken: Which Has the Most Favorable Fees?
In the world of cryptocurrencies, how much you pay for services is crucial and impacts your profitability. We will compare Coinbase and Kraken to determine who offers the most favorable fees for users.
Coinbase
Here are the details of Coinbase fees:
| Type of fee | Amount |
| Transaction Fees | Variable; depends on the transaction amount |
| Maker fee | 0.00 – 0.40% |
| Taker fee | 0.05 – 0.60% |
| Cryptocurrency withdrawal fees to another wallet | Based on the current network fee estimate |
| Selling Bitcoin Fees | None, but the sale may result in taxable gains or losses |
| Fees for funds sent to an internal Coinbase account | 1% |
Please note that this information may vary based on various factors, and it is always best to check Coinbase’s official website for the most up-to-date and accurate information.
Coinbase
- Regulated exchange
- An easy-to-use platform
- Free crypto training offered
Coinbase
Kraken
Here are the details of Kraken fees:
| Type of fee | Amount |
| Transaction Fees | Variable; depends on the transaction amount |
| Maker fee | 0.00 – 0.02% |
| Taker fee | 0.01 – 0.05% |
| Cryptocurrency withdrawal fees to another wallet | Based on the current network fee estimate |
| Selling Bitcoin Fees | None, but the sale may result in taxable gains or losses |
| Fees for funds sent to an internal Kraken account | Free |
Please note that this information may vary based on various factors, and it is always best to check Kraken’s official website for the most up-to-date and accurate information.
Coinbase vs. Kraken: Fees
In terms of fees, it seems that Kraken is more competitive even when compared to the rest of the industry. This means it’s preferable for active traders with large volumes of transactions as it reduces the trading costs.
That being said, you can reduce how much you pay when trading on Coinbase by switching to Coinbase Prime where the fees are lower to attract professional traders. Even so, remember you will still have to pay more for certain transactions such as cash withdrawals and commissions.
Comparison of Features Offered by Coinbase and Kraken
Coinbase and Kraken are two giants that offer a variety of services. Below, we will compare the features offered by Coinbase and Kraken, emphasizing their differences and similarities. Whether you are a beginner or an experienced trader, this analysis will help you determine the platform that best suits your needs.
Buying Cryptocurrencies
Buying cryptocurrencies on Coinbase and Kraken is perhaps the most important step among investors looking to diversify their financial portfolios. These platforms offer a variety of cryptocurrencies, including Bitcoin, Ethereum, and many others, making cryptocurrency investment accessible to everyone.
Coinbase
- Registration: to start buying cryptocurrencies with Coinbase, you need to first sign up on the platform. You will need a valid email address and a secure password
- Verification: after registration, you will need to verify your account by providing a government-issued ID like a national ID, passport, or driver’s license
- Payment method: next, you need to add a payment method. Coinbase accepts bank transfers, debit cards/credit cards, and PayPal
- Cryptocurrency purchase: once everything is in place, you can start buying cryptocurrencies. You can choose from a variety of cryptocurrencies available on Coinbase, including Bitcoin, Ethereum, and Litecoin
- Security: Finally, it’s important to take steps to secure your account. Use two-factor authentication (2FA) and never share your login information with anyone
Kraken
- Account creation: to start, you need to create an account on Kraken. You will need a valid email address and a secure password
- Verification: after creating your account, Kraken will ask you to verify your identity. This usually involves providing an ID and proof of address
- Funds deposit: once your account is verified, you can deposit funds. Kraken accepts bank transfers, credit/debit cards (Visa/Mastercard), Apple Pay, Google Pay, and certain cryptocurrencies
- Cryptocurrency purchase: now that you have funds in your account, you can buy cryptocurrencies. Kraken offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and many others
- Security: ensure you secure your account by using two-factor authentication and never sharing your login information
Coinbase vs. Kraken: Buying Cryptocurrencies
In terms of buying cryptocurrencies, Coinbase and Kraken have similar processes. However, Kraken has an advantage by offering more choices of payment methods to deposit funds. Additionally, fees are generally lower on Kraken than on Coinbase, which can be a decisive factor for some investors.
However, Coinbase has a more user-friendly interface and is generally better suited for beginners. It’s up to you to choose the platform that best meets your cryptocurrency buying needs.
Analyzing Cryptocurrency Prices
Analyzing cryptocurrency prices with Coinbase and Kraken is a crucial step for any investor looking to understand market trends and make informed investment decisions. Let’s now explore the possibilities offered by Coinbase and Kraken:
Coinbase
- Access to market data: Coinbase provides access to real-time market information, including current prices, exchange volumes, and percentage changes
- Price charts: you can then view this market data represented on price charts to visualize historical and current price movements of different cryptocurrencies. Coinbase Prime has even more advanced charts for professional analysis
- Trend indicators: Coinbase also offers technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), which can help analyze market trends
- Price alerts: set custom price alerts on Coinbase to be notified when the price of a cryptocurrency reaches a certain level
- Price comparison: Coinbase allows you to compare prices of different cryptocurrencies, helping identify investment opportunities
Kraken
- Access to market data: Kraken provides access to real-time market data, including current prices of different cryptocurrencies, their exchange volumes, and percentage variations. This information is essential for understanding the current state of the cryptocurrency market
- Price charts: Kraken offers detailed price charts for each cryptocurrency they list. These charts can be used to track historical and current price movements
- Technical analysis tools: Kraken provides a range of technical analysis tools, including trendlines, moving averages, and Relative Strength Index (RSI)
- Price alerts: Price alerts on Kraken allow you to receive notifications when the cost of a specific cryptocurrency reaches a level you have predefined
- Price comparison: Kraken offers the ability to simultaneously examine the values of various cryptocurrencies, making it easier to identify potential investment opportunities
Coinbase vs. Kraken: Market Analysis
Ultimately, the comparison between Coinbase and Kraken in terms of cryptocurrency price analysis is very similar. Both platforms offer access to real-time market data, detailed price charts, and technical analysis tools.
But you have to use Coinbase Pro to access the full suite of analysis tools from the Coinbase exchange so Kraken has a slight advantage in doing so by default. To know which system is better, we recommend testing both platforms first with a small deposit before committing.
Kraken
- Great customer support
- Secure exchange
- Lower fees with Kraken Pro
Kraken
Withdraw Money
Learn how to withdraw money efficiently and securely using popular cryptocurrency platforms, Coinbase and Kraken.
Coinbase
- Log in to your Coinbase account
- Select the “Sell” option in the main menu
- Choose the cryptocurrency you want to sell and the amount
- Select the “Withdraw” option to withdraw funds in fiat currency
- You can choose to withdraw money directly to your bank account or a linked credit/debit card
- Confirm the transaction and wait for the funds to be transferred
Kraken
- Log in to your Kraken account
- Go to the “Funding” section
- Click on “Withdraw” next to the fiat currency you want to withdraw (e.g., EUR, USD)
- Select the withdrawal method you prefer (e.g., bank transfer)
- Enter the amount you want to withdraw
- Verify transaction details and confirm the withdrawal
- Wait for the funds to be transferred to your bank account
Coinbase vs Kraken: Funds Withdrawal
In conclusion, withdrawing money from Coinbase and Kraken is a fairly similar process. Both platforms offer an intuitive user interface that makes the withdrawal process easy to understand and execute even on mobile.
The differences arise in transaction fees and processing times, depending on the type of withdrawal method you choose. It is always recommended to check these details before proceeding with a withdrawal. Overall, Coinbase and Kraken are both solid options for those looking to withdraw money from their cryptocurrency accounts.
Which Exchange Offers the Best User Experience?
The choice between Coinbase and Kraken for a cryptocurrency exchange is a frequently asked question among investors. These two platforms are well-known in the world of cryptocurrencies, offering a variety of services, but which one offers the best user experience?
According to several sources, the answer may depend on your specific needs as an investor. In the following lines, we will explore in more detail the strengths and weaknesses of each platform.
Coinbase
- User-friendly interface: the default Coinbase platform is very easy to navigate, making it an attractive option for beginners in the cryptocurrency world. Meanwhile, more experienced, traders can use Coinbase Prime, rather than offer a one-size-fits-all solution
- Wide selection of cryptocurrencies: Another major advantage of Coinbase is its wide range of available cryptocurrency options that you can buy. This gives users more flexibility and choices when diversifying their cryptocurrency portfolio
- Security: Coinbase is known for its robust security. The platform uses a variety of security measures, including cold storage for a significant portion of digital assets, and offers insurance in case of a platform security breach
- Mobile application: Coinbase also provides a convenient mobile application, allowing users to access their accounts and manage transactions anywhere and anytime
Kraken
- Advanced trading options: Kraken offers a range of trading options that can satisfy more experienced traders, including leveraged trading and margin trading
- Security: security is a priority for Kraken, with rigorous security measures in place to protect users’ funds, including cold storage and 24/7 monitoring
- Variety of crypto markets: Kraken offers a wide range of cryptocurrencies for trading, providing users with numerous options to increase their performance in the crypto market
- Competitive fees: Kraken’s fees are generally considered competitive compared to those of other cryptocurrency exchange platforms
- Customer support: Kraken is also known for its strong customer service, with a team available 24/7 to assist users with any questions or issues they may encounter
- Reputation: Kraken has an excellent reputation in the cryptocurrency industry and is widely regarded as a reliable and trustworthy exchange platform
Coinbase vs. Kraken
Choosing between Coinbase and Kraken largely depends on your individual needs as a user. In general, Coinbase is often cited as the best choice for beginners due to its intuitive user interface and comprehensive educational resources. Additionally, Coinbase’s mobile application is extremely convenient for those who prefer to manage their transactions on the go.
On the other hand, Kraken may be more attractive to experienced traders due to its advanced trading options, including leveraged and margin trading. Furthermore, Kraken has an excellent reputation for security and offers a wide variety of cryptocurrencies to trade.
Both platforms still provide a strong user experience with their unique advantages. Therefore, it is recommended to evaluate your own needs and preferences before making your choice.
Which Is More Reliable: Kraken vs Coinbase
In the ever-evolving world of cryptocurrencies, deciding on a reliable platform for transactions can be confusing. In this section, we will compare Coinbase and Kraken on several key aspects, including security, fees, ease of use, and customer service, to determine which platform offers the best user experience.
History and Regulation
These exchanges have been around for years, which is important because they prove they can withstand the test of time. Here’s what you need to know about each of them.
Coinbase
Coinbase is one of the most popular and reputable cryptocurrency platforms globally. It is recognized for its reliability due to several factors. First, Coinbase is regulated and complies with U.S. laws, providing it with credibility. Second, it has a robust security system with insurance to protect users’ digital assets.
Additionally, Coinbase offers a simple and intuitive user interface, making it easy for beginners and experts to buy, sell, and trade cryptocurrencies. However, like any online platform, users need to take additional security measures, such as using two-factor authentication.
Coinbase
- Regulated exchange
- An easy-to-use platform
- Free crypto training offered
Coinbase
Kraken
Kraken is another well-established and respected cryptocurrency platform. Its reliability comes from its longevity in the cryptocurrency sector, having been around since 2011. Kraken is also known for its transparency and commitment to security. It employs various security measures, including two-factor authentication, data encryption, and cold storage of users’ funds.
Moreover, Kraken offers a wide range of cryptocurrencies for trading, making it an attractive option for experienced traders. However, despite its reputation for reliability, users should still take their own security precautions when using online cryptocurrency platforms.
Coinbase vs Kraken
In conclusion, choosing between Coinbase and Kraken largely depends on individual user needs. Coinbase, with its user-friendly interface and regulatory compliance, can be an ideal choice for cryptocurrency novices or those who prioritize ease of use.
On the other hand, Kraken, with its many trading options and commitment to transparency, may be preferred by more experienced traders. In both cases, these platforms have proven their reliability and security over the years.
Which Platform Is More Secure?
In the world of cryptocurrency, security is paramount. Two platforms stand out for their reliability and security: Coinbase and Kraken. Coinbase, with its user-friendly interface and regulatory compliance, is often the preferred choice for novices. On the other hand, Kraken, known for its varied trading options and commitment to transparency, is often favored by more experienced traders. But the question remains: which of these two platforms is more secure?
Coinbase
Coinbase, founded in 2012, has become one of the most respected cryptocurrency exchanges regarding security. The platform uses state-of-the-art security protocols, including data encryption and two-factor authentication, to protect users’ accounts.
Furthermore, Coinbase stores 98% of customers’ digital assets offline in secure vaults and deposits worldwide to prevent theft or loss in case of a cyber attack. They also have an insurance policy covering losses in case of a breach of their physical or cyber security.
In addition, Coinbase is committed to complying with all applicable regulations and laws, adding an extra layer of trust and security for its users. Thus, it is clear that security is a top priority for Coinbase, making this platform an ideal choice for those seeking a safe and secure cryptocurrency trading experience.
Kraken
Founded in 2011, Kraken is recognized as one of the most secure cryptocurrency exchanges. The platform offers a range of advanced security features, including two-factor authentication, data encryption, and continuous transaction monitoring to detect and prevent any suspicious activity.
Kraken also stores the majority of cryptocurrencies in offline wallets (cold storage) to minimize the risk of theft in case of a cyber attack. Additionally, all user funds that are online are fully insured. In terms of regulatory compliance, Kraken is registered with FinCEN in the United States and adheres to all applicable international laws and regulations.
Security is a top priority at Kraken, making it a reliable choice for those looking to trade cryptocurrencies securely.
Kraken
- Great customer support
- Secure exchange
- Lower fees with Kraken Pro
Kraken
Coinbase vs. Kraken
After examining the available information, it appears that Coinbase is slightly more secure than Kraken particularly because it is publicly listed in the stock market. Public companies have to reveal their operations and face more scrutiny, so the company can be seen as more trustworthy.
However, this does not mean that Kraken is not secure. Kraken is also known for its strong security measures and compliance with international regulations. But if you are based in the United States or new to cryptocurrency trading, Coinbase might be a more appealing option due to its user-friendly interface and specific benefits for U.S. traders.
So, while both platforms are highly secure and reliable, Coinbase seems to have a slight advantage in terms of overall security.
Which Has the Best Customer Service?
Fast and effective customer service is important especially when you need urgent help. Both Coinbase and Kraken have good customer support, so let’s see how they compare.
User reviews are mixed and depend on individual experiences but it is important to note that the quality of customer service can make all the difference when it comes to resolving urgent issues.
In this context, we will compare the customer service of Coinbase and Kraken to determine which excels in terms of responsiveness, efficiency, and user satisfaction.
Coinbase
- Availability: Coinbase offers 24/7 customer support, allowing users to receive assistance at any time
- Communication channels: users can contact Coinbase customer service via email, live chat, or phone. There is also a comprehensive help section on their website with answers to frequently asked questions
- Response time: response times vary depending on the channel used, with live chat being the fastest. Users have stated that email responses take between 24 – 48 hours
- Multilingual support: Coinbase’s customer service is available in multiple languages, making communication easier for non-English-speaking users
- Security: Coinbase emphasizes user security, assisting with issues such as account recovery and identity verification
- Problem resolution: Coinbase strives to resolve all issues reported by users, although the speed of resolution may depend on the complexity of the problem.
Kraken
- Availability: Kraken’s customer service is also available 24/7 to answer questions and resolve user issues
- Communication channels: Kraken offers various means to contact their customer service, including email, live chat on their website, and phone call
- Response time: according to user reports, Kraken’s response time is generally fast, often within 24 hours on email and instantly on live chat and phone call
- Multilingual support: Like Coinbase, Kraken also offers multilingual support, beneficial for international users
- Security: Kraken also prioritizes user security, assisting with issues such as account security and fraud prevention
- Problem resolution: Kraken actively works to resolve issues reported by users, although the speed of resolution may vary depending on the nature of the problem.
Coinbase vs Kraken
After examining the customer service features of Coinbase and Kraken, it is clear that both platforms offer excellent support to their users. However, if we have to choose the best, Kraken seems to have a slight advantage.
While both offer 24/7 support, and multilingual assistance and prioritize security, users have reported that Kraken generally has a faster response time. This speed can be crucial when dealing with urgent issues related to cryptocurrency trading. Plus, Kraken also offers a digital wallet for storing coins between purchases, adding an extra layer of convenience for users.
It is worth noting that the quality of customer service can vary based on individual experiences, but based on the available information, Kraken seems to offer slightly superior service compared to Coinbase.
Conclusion: Coinbase vs. Kraken
After a thorough analysis of the features, fees, and other key factors of Coinbase and Kraken, it is evident that both platforms have much to offer cryptocurrency investors. However, according to various sources, including BitDegree and Investopedia, Kraken seems to have an advantage in terms of overall score and margin trading.
Additionally, Kraken Pro offers one of the lowest maker-taker fee schedules in the industry, which is another strong point compared to Coinbase. It is worth noting that spot trading fees on Kraken are generally lower than on Coinbase Pro, although this may vary depending on the specific circumstances of each transaction.
In the end, the choice between Coinbase and Kraken will depend on the individual needs of each investor, including their risk tolerance, fee preferences, and overall investment strategy.
Kraken
- Great customer support
- Secure exchange
- Lower fees with Kraken Pro
Kraken
