Coinbase vs Kraken – Who’s Better For Crypto Investing?

So you’re thinking about buying, trading or investing into cryptocurrencies right? Often the first obstacle is choosing the best exchange or broker. You have to take into account fees, payment methods, security and other important things. Today we’ll be taking a look at Coinbase vs Kraken, two of the most popular cryptocurrency websites. This comparison will cover everything you need to know so you can make a decision today.

Coinbase vs Kraken

Coinbase

If you’re a beginner then we highly recommend that you check out Coinbase. This is because it is much easier to get started with and has a simpler system due to it being a broker. You can simply log in and buy cryptocurrencies with a variety of payment methods, easy as that. It’s also quicker compared to Kraken because you set a price and purchase it at that amount after verifying your account.

Your purchasing limits are based off of the age of your account, purchase history and verification status. Bank transfer purchases start off with a higher limit if you’re interested in investing a bit more at first.

If you need any help, Coinbase has a great customer support team you can reach through email or ticket. Expect to get a response within a 24-48 hour time frame which is reasonable with the amount of customers they have.

Cryptocurrency is known for its security so it shouldn’t be a surprise that both Coinbase and Kraken are very safe to use. Industry practices the two websites implement include:

  • 2-factor authentication to keep your account safe.
  • Coins are held in secure offline wallets to negate hacks or breaches.
  • Users funds are not used for any company operations.
Coinbase Information
  • Website type: Broker for buying and selling coins
  • Beginner friendly: Yes
  • Mobile app available: Yes
  • Payment methods: Debit/Credit card and bank transfer
  • Withdrawal methods: PayPal, bank transfer and cryptocurrency
  • Coins you can buy: Bitcoin, Litecoin and Ethereum
  • Established since: 2012
  • Trust from crypto community: Excellent
  • Security: Excellent
  • Customer support: Great
  • Verfication: Required
  • Fees: Moderate(1.49%-3.99%)
  • Buy coins on Coinbase now

Kraken

For the more serious investors, Kraken is a cryptocurrency exchange you’ll enjoy using. It isn’t as beginner friendly so we recommend you wait until you have more experience before diving into a real exchange. Those coming from a Forex or similar background will understand how the system works. You trade currency pairs with one another which requires knowledge on chart reading and similar skills.

When you want to begin trading on Kraken, it’s slower than getting started on Coinbase because you must:

  1. Verify your account first.
  2. Deposit fiat currency of your choice through a bank transfer.
  3. Wait 1-5 business days for the deposit.
  4. Trade the fiat currency for coins.

Besides that, it’s an advanced trading platform that you’ll find satisfies all of your needs as a crypto trader. Customer support is available through tickets and are known for responding within a reasonable time frame.

Kraken Information
  • Website type: Cryptocurrency exchange
  • Beginner friendly: No
  • Mobile app available: Not
  • Payment methods: Cryptocurrency and bank transfer
  • Withdrawal methods: Cryptocurrency and bank transfer
  • Coins you can buy: Bitcoin, Litecoin, Ethereum,¬†Ethereum Classic, Dash, EOS, Gnosis, Iconomi, Melon, Augur, USDT, Dogecoin, Stellar Lumens, Monero, Ripple, and Zcash
  • Established since: 2011
  • Trust from crypto community: Great
  • Security: Great
  • Customer support: Good
  • Verfication: Required
  • Fees: Low(Usually lower than .35%)
  • Start trading on Kraken

Coinbase vs Kraken Verdict

 

Who Coinbase is good for
  • Beginners to cryptocurrencies in general.
  • Users that would like to simply buy cryptocurrency to hold onto or spend.
  • Users that would like to buy cryptocurrencies through debit/credit card and withdraw with PayPal.
Who Kraken is good for
  • More advanced and experienced cryptocurrency users.
  • Those looking to actively trade and invest into coins.
  • Users with larger capital to start off with.

 

My name is Carmine and I own Mastro Digital, Pierro Shoes, and Wisetech Report. I’m a self published author and full time internet marketer. If you need blog article, e-book or sales copy services please contact me at [email protected].com.

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