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Kraken Vs Coinbase
Kraken and Coinbase are two of the most high-profile crypto exchange platforms in the world. Each allows you to buy various currencies using fiat money (U.S. dollars or Euro for example) and is geared for experienced and novice investors. Both high- and low-volume traders enjoy Kraken’s low-fee services and high trading limits. New investors based in the United States appreciate the convenience of Coinbase’s digital wallet and funding options. Unlike Kraken, Coinbase caters to U.S.-based traders, and you can learn more about this platform by reading our in-depth Coinbase review.
In this article, we weigh the pros and cons of Kraken and Coinbase and explore their distinctive features, security, fees, ease of use, and more. While both platforms offer appealing elements like mobile apps and 24/7 customer service, each has advantages that will appeal to different investors. Kraken login offers flat purchasing fees, which is an excellent benefit for lower-volume traders. Coinbase provides easy funding options like PayPal and debit cards, ideal for U.S. traders.
Cryptocurrencies have become increasingly popular with investors, traders, and other market participants across the globe. Along with a significant surge in the launch of numerous virtual currencies, the launch of trading venues for these cryptocurrencies is also on the rise.
Similar to the workings of a stock exchange, these cryptocurrency exchanges facilitate the buying and selling of virtual currencies by retail as well as by large investors and traders.
Kraken supports over 110 cryptocurrencies, including popular ones such as:
Kraken also supports a handful of stablecoins including Tether, USD Coin, and Dai. You can even convert US dollars into Canadian dollars, Japanese yen, and Swiss francs if you want. Note that not all currencies are available in every country.
Both cryptocurrency exchange platforms allow users to invest in various altcoins. However, setting up, verifying, and adding funds to your Coinbase account is much easier for U.S.-based traders versus Kraken’s more restrictive measures.
On Coinbase, users create an account, confirm an email address, and set up the two-step authentication process. Next, you need to prove your identity using an approved form of identification. Once that’s complete, you can add your payment method and start trading.