Compared side-by-side, Coinbase is the most popular exchange for cryptocurrency trading, serving over 32 coun
tries. In terms of volume, Coinbase has more users, but Kraken is much smaller, with only seven million. Both exchanges offer a downloadable cryptocurrency wallet. While Coinbase offers better security, Kraken is more secure, and its security measures are more sophisticated. Kraken has also been regulated by FinCEN and is based in the USA.
The two exchanges have different strengths and weaknesses when it comes to customer support, which is one of the biggest areas of improvement. Kraken has an online chat that is powered by a chatbot, which can direct users to appropriate support. Coinbase offers a standard chat option, but you may have to wait up to 72 hours for a response. Kraken has many trading options, from charts and overlays to watchlists and live book transactions. It also offers white-glove services for larger purchases.
When it comes to fees, kraken vs coinbase pro is better, but both services offer similar services. Coinbase Pro is much cheaper, but it does charge fees, and Kraken uses a maker-taker fee system to reward traders for volume. Maker fees begin at 0.26%, but drop steadily as volumes increase. On average, both exchanges charge a flat 0.3% fee per trade, but Kraken has lower fees.
The interface is more straightforward and easy-to-use, although Kraken does not offer price charts on its website. Beginners may want to invest in crypto and need an easy-to-understand interface, so Kraken is a better choice in this area. In addition, Kraken supports a bug bounty program and offers 24/7 customer support. A dedicated security section makes Kraken a more secure exchange option for newbies.
Traders can create alerts on the Kraken Pro platform based on price, trading volume, or the name of the alert. Coinbase Pro’s alerts, on the other hand, are limited to price-based alerts, which make them less flexible than Kraken. Moreover, traders need to be aware that Kraken is an exchange, not a wallet service. If they need to store their funds on the exchange, they should purchase a hardware wallet.
If you’re new to crypto trading, Kraken offers more options than Coinbase. It has more than 120 currencies compared to 30 on Kraken. Moreover, Kraken offers more than one hundred of major fiat currencies. But, while the Coinbase phone support is useful for general queries, it does not provide help with account-specific queries. Alternatively, Kraken offers live chat support 24 hours a day, and the agent will connect you within 30 seconds.
Both exchanges have their own fee structures and features. Kraken has a flat rate of 0.50%, while Coinbase charges a variable fee of 1.5% of the amount of transactions. Depending on your account level, Coinbase Pro is cheaper and more convenient than Kraken, but it is important to know that the fees will vary based on the method of withdrawal and the amount of transactions. While it’s hard to compare a platform, you can make a comparison between the two.