One of the first steps every novice crypto trader must take is to find a perfect exchange suiting all his needs, demands, and goals. But, as of now, there are so many services offering advanced functionality, low fees, and comfortable terms of use, that choosing a single one takes immense effort. Luckily, you can count on our expert advice and make use of our comparative analysis of the most respected and sought-after services. In this article, we will focus on Kraken and Coinbase.
For the sake of objectivity, we have analyzed and compared the platforms mentioned against more than 10 major aspects: from functionality to fees and security measures. However, to save you time, we will mention the most essential features of Kraken vs. Coinbase.
Kraken:
· available in 176 countries and 48 states of the USA and regulated in the USA, Canada, Great Britain, Australia, and Japan;
· 98 altcoins available;
· lower trading fees;
· as this trading platform is international, it offers a much more extended choice of base account currencies — 7 fiat ones and 98 altcoins;
· minimum deposit — $1;
· trading fees are much lower than on Coinbase;
· margin trading is available;
· a wider range of coins can be staked;
· a web platform, a mobile app, and an advanced app for professional traders are available;
· 2FA via an app;
· 50 indicators, 16 drawing tools, historical trades, live quotes;
· market, limit, and stop-loss orders plus stop-limit and trailing stop functions;
· educational articles, videos, webinars;
· 24/7 support via phone, chat, email;
· no promos.
Coinbase:
· available and regulated in 45 states of the USA;
· 119 coins accessible;
· USD as a base account currency + 6 altcoins as an alternative;
· minimum deposit — $25;
· trading fees are pretty reasonable but still higher than on Kraken;
· no margin trading;
· staking as a passive earning method is available;
· both a web version and a mobile app are offered;
· 2FA via an app, SMS, voice call;
· in terms of research, only historical trades and live quotes are available, no charting instruments;
· market, limit, and stop-loss orders;
· access to the latest news and fundamental data;
· educational articles, videos, and courses;
· 24/7 support via chat, email, phone;
· a referral program plus bonuses for completing educational courses.
In sum, we can safely claim that there is no big difference between these two sources. However, Kraken has more advantages in terms of fees, charting features, and global availability, while Coinbase offers a bigger selection of altcoins, educational courses with bonuses, and additional income from a referral program.
