What are the differences between Coinbase and Kraken? These two platforms have a similar set of features, but the differences lie in the ways in which they store your funds. While Coinbase keeps less than 2% of its funds online, it is also insured and holds them in cold offline storage. Additionally, Kraken has advanced verification, including photo identification, proof of residence, and social security numbers. Funding your account through either Coinbase or Kraken can be easy, with the ability to deposit funds via a digital wallet, ACH, wire transfer, or a variety of other methods.
Kraken and Coinbase both have fees, although their fees are similar. Both charge a small maker-taker fee for transferring crypto. This fee is typically less than 0.36% but varies according to the currency pair and the transaction volume. Kraken also accepts debit cards, which have higher fees due to card company fees and the possibility of fraudulent chargebacks. Debit card purchases typically carry a 3.99% fee.
Both exchanges offer a good mobile app. Although Coinbase has a better mobile interface, the Kraken mobile app does not have the same features. Those who prefer a mobile interface may want to try Coinbase Pro instead. The app also allows you to collapse and resize panels. The difference between Coinbase and Kraken depends on your needs. If you are looking for an exchange that offers a comprehensive set of services and low fees, Coinbase is the right choice.
Both platforms provide similar services, though they are geared to different markets. Kraken is more focused on high-dollar investors who want to make substantial investments outside of the main exchange. Customers can also take advantage of its white-glove services and get personalized assistance. In addition to the same-day customer support, Kraken also offers a mobile app with convenient tools to access information and interact with fellow investors. Its mobile app has received high user ratings and is free to download.
Customer support is another important aspect to consider when choosing between Coinbase and Kraken. Both exchanges have different requirements for customer support. Customer support at Coinbase is more efficient than that of Kraken. Besides a chat feature, customers can also email support or phone support for any questions they have. If you need help, Coinbase responds to support tickets within 48 hours, while Kraken has a seven-day wait time for phone calls and email queries.
Both Coinbase and Kraken offer a wide variety of products and services, although the features and services vary between the two. To start, Coinbase allows you to spend digital assets like Bitcoin, while Kraken does not. Additionally, both platforms offer advanced trading options. Coinbase Pro is focused on professional traders and offers features like charting software, multiple order types, and trade history. If you’re not a beginner, you should choose Coinbase.
Both services allow beginners to buy and sell cryptocurrencies, and both offer learning tools. Coinbase is easier for beginners to use, and Kraken is designed for more experienced traders. However, the latter has a simpler user interface and more cryptocurrencies. In addition to these, Coinbase also accepts debit cards tech deck ramps. With both exchanges, you’ll be able to purchase a range of cryptocurrencies, including Bitcoin, Ethereum, Bitcoin, and many others.