These days, the most trending marketplace is the digital market. You can also call it a cryptocurrency exchange. In this market, people can do trading with digital currencies and without cash or any other assets. This exchange market is quite similar to the United States Stock Exchange as it allows people to buy traditional securities.
Like the United States stock market, the trades are sent to your online portfolio (cryptocurrency wallet) in the case of the cryptocurrency market. The cryptocurrency wallet is online storage space. Hence, credit cards, debit cards, wire transfers, and other kinds of payments are accepted by the cryptocurrency exchange to purchase cryptocurrency.
Though there are so many cryptocurrency exchanges, only a few of them are famous. Some cryptocurrency exchanges allow you to withdraw money, while others don’t allow. Furthermore, there are some exchanges that let you buy digital currencies, but you can’t transfer them to your digital wallet. Therefore, it is necessary to choose your cryptocurrency exchange wisely.
In this article, we are going to discuss a detailed comparison of Kraken vs. Coinbase so that you can select one of these exchanges that you find the best.
Established in San Francisco in 2011, Kraken is a longstanding player of cryptocurrency. Since 2013, it has been considered the leader in Bitcoin trading. This company is serving cryptocurrency in 176 countries, along with the 48 US states.
Kraken got famous because of the role it played in 2014. It helped investors to recover the money they had lost due to the bankruptcy of Mt.Gox, the largest known Bitcoin exchange.
The website owned by Krakens is simple to use, navigate, and amazing as well. It offers cryptocurrency to investors belonging to all experience levels. The users of Krakens get the best facilities such as:
- Purchase and sell 50 different kinds of cryptocurrencies.
- Chances for future trading, margin trading, and limit orders.
- Kraken mobile app can be used to monitor accounts.
- 24/7 customer chat support is available.
There are small fees charged on every trade at Kraken, and the fee is calculated regarding the volume. Kraken also provides volume-based discounting. This way, the playing field is equalized, and investing in cryptocurrency becomes widely accessible.
Moreover, while using Kraken, a fee of 0.9 percent is charged for stable coins trade and a 1.5 percent fee for crypto and FX traders. The card processing fee for making payments is 1.5 percent, and the bank processing fee is 0.5 percent.
Coinbase got developed in 2012. This is also a United States-based cryptocurrency exchange that welcomes newcomers by providing an easy way to wander in. Coinbase claims that it is one of the easiest places for purchasing and selling cryptocurrency.
Below are some facilities that Coinbase provides its users:
- There is an option to purchase and sell 50 different types of cryptocurrencies. You also have the option to schedule your purchases.
- You can earn cryptocurrency through Coinbase.
- You can save your cryptocurrency in your digital wallet and make withdrawals at any time.
- You have the option to spend cryptocurrency on cards, and then, in return, you will get rewards.
- You can easily analyze your account on the mobile app provided by Coinbase.
- It also provides E-mail support.
One more amazing thing about Coinbase is that it provides its users a free $5 Bitcoins once they get registered to this cryptocurrency exchange.
The Final Verdict:
After reading the comparison between Kraken and Coinbase, you have known the remarkable features of both cryptocurrency exchanges. Both are best on their own. Therefore, it is now up to you which one you choose. Opt for the one that suits you the most and start dealing in cryptocurrency!