When it comes to cryptocurrency trading, Kraken and Coinbase have similar features. However, there are differences between these two platforms. While Coinbase offers a more advanced trading platform, Kraken has lower fees and more features. Moreover, both sites allow users to use fiat currencies. Ultimately, you will be able to choose which exchange is best for you. Read on to discover how to decide between the two!
Kraken has better customer support than Coinbase. While the two exchanges offer many of the same features, they have different levels of customer support. For example, Kraken offers two-factor authentication to protect your account against hacking and attack. In addition, users can choose to fund their accounts with fiat currencies through wire transfers and Etana Custody. And, if you’d like to use a cold wallet, Kraken also offers that feature.
However, there are differences between the exchanges. Kraken charges a fee of 0.16% per transaction, while Coinbase charges from 0.05% to 2% plus fees. In addition, you will need to have a debit or credit card to purchase cryptocurrencies with Coinbase. The fees vary depending on the amount of cryptocurrency purchased and the price. If you want to purchase bitcoin, the minimum amount to withdraw is 0.00500 BTC. For Ethereum, the fee is 0.00500 ETH.
Kraken requires more documentation than Coinbase. The process to open an account varies depending on the type of account you choose. There are three types of accounts: Starter, Express, and Intermediate. Intermediate accounts require no verification, while the Pro account requires a credit card or bank account. Both exchanges offer customer support by phone, email, and chat. You can also connect an account with an external bank or credit card.
Among the most popular cryptocurrency exchanges in the U.S., Kraken offers an extensive selection of cryptocurrencies. However, it does not support all cryptos. Gemini offers 34, while Coinbase and Kraken offer over 50 cryptocurrencies. Therefore, the choice is yours! Keep reading to decide which exchange is right for you! Its Kraken vs Coinbase
For security, Kraken uses two-factor authentication to keep your crypto safe. The second factor is a security key. The security key is a unique piece of software that generates a one-time passcode that a user can use to access their account. Both services use two-factor authentication and security keys to keep your personal information secure. Besides these security features, Kraken has more user-friendly features and is easier to use than Coinbase.
Kraken is more secure than Coinbase, though it requires $100,000 to open an account. However, the startup process for newcomers is a little longer. Kraken also has more cryptocurrencies and is easier to use. In summary, Kraken is better for serious cryptocurrency traders. If you want to buy bitcoin with your credit card or bank account, Coinbase is the way to go. Its fees are low and the exchange offers a wide range of crypto currencies.