Bithumb vs Kraken: Fees, Coins, Safety Comparison
| Feature | Bithumb | Kraken |
|---|---|---|
Overall |
4.0 |
4.5 |
4.0 |
4.8 |
|
3.9 |
4.1 |
|
4.2 |
4.5 |
|
Investment Instruments |
4.3 |
3.7 |
Platforms and Charting Tools |
4.2 |
4.5 |
Deposit and Withdrawal |
3.8 |
4.0 |
Research |
3.9 |
4.3 |
Education |
3.8 |
4.2 |
Support |
4.0 |
4.3 |
Bonuses |
4.1 |
2.0 |
|
Your capital is at risk.
|
Your capital is at risk.
|
Bithumb vs Kraken: Pros and Cons
Bithumb is a cryptocurrency exchange and trading platform. Only the Korean won is represented among the broker’s fiat currencies. In addition to making money on the crypto exchange, users can receive passive income using deposit programs. There is also the possibility of automatic trading through a custom bot. Major cryptocurrencies are traded on the exchange, including Bitcoin, Ethereum, Ripple, EOS, DASH, Zcash, Monero, etc. Deposits and withdrawals of funds are possible through credit cards and crypto-wallets. The personal data protection system is assessed as progressive and there is an extended AML verification. The platform has its proprietary trading terminal, which has two versions — web and mobile (in Android and iOS). Only a cold storage (not connected to the internet) method for holding cryptocurrencies is presented.
The Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.
| Bithumb | Kraken | |
|---|---|---|
| Overall Pros | all major cryptocurrencies are at your disposal; | 2 FA authentication |
| fees are below average for the segment; | Low minimum deposit | |
| high trading volumes equal high liquidity; | Passive income with staking | |
| well-thought-out investment portfolios; | Regulated in several countries | |
| top-notch support service; | Minimum maker fee $0 | |
| the user-friendly interface. | Over 50 indicators and 16 drawing tools | |
| Overall Cons | only a few dozen cryptocurrencies and tokens are presented; | NFTs are not available |
| no fiat funds except the Korean won; | ||
| no referral program. |
Bithumb vs Kraken: Safety and Regulation
| Regulated By: | Bithumb | Kraken |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
Financial Intelligence Unit (FIU) |
FinCEN (USA), FINTRAC (Canada), FCA (Great Britain), FSA (Japan), AUSTRAC (Australia) |
Bithumb vs Kraken: Trading Conditions
| Trading Conditions | Bithumb | Kraken |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
Bithumb |
Web, Mobile, Mobile Pro |
Max Leverage (Futures) |
44562 |
1:5 |
Number of Markets |
32+ |
374 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptocurrencies, Korean won |
USD, EUR, GBP, AUD, CAD, CHF, JPY + 98 Crypto |
Bithumb vs Kraken: Fees
Trading Fees
| Fee | Bithumb | Kraken |
|---|---|---|
Max Maker |
0.25% |
0.16% |
Max Taker |
0.25% |
0.26% |
Min Maker |
0.04% |
0 |
Min Taker |
0.04% |
0.1% |
Debit/Credit Card Purchase Fee |
0 |
3.75% + $0.25 |
Futures Trading fees
| Fee | Bithumb | Kraken |
|---|---|---|
Max Maker |
0.25% |
0.02% |
Max Taker |
0.25% |
0.05% |
Min Maker |
0.04% |
0 |
Min Taker |
0.04% |
0.01% |
Non-Trading Fees
| Fee | Bithumb | Kraken |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
$0-$10 |
Bank Transfer Withdrawal Fee |
Not supported |
4-35 USD |
Debit/Credit Card Withdrawal Fee |
Not supported |
3.75% + $0.25 |
BTC Withdrawal Fee |
0.001BTC |
0.00001 BTC |
Inactivity Fee |
No |
No |
Bithumb vs Kraken: Trading Assets
| Asset Name | Bithumb | Kraken |
|---|---|---|
Overall |
193+ |
167+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
No |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
No |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
For non US Users |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
No |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
Yes |
Yes |
NFT |
No |
Yes |
Crypto ETF |
No |
No |
Bithumb or Kraken: Investment Programs
| Asset Name | Bithumb | Kraken |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Automatic Trading |
No |
Trading Platforms: Kraken or Bithumb
| Bithumb | Kraken | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: Kraken or Bithumb
| Bithumb | Kraken | |
|---|---|---|
SMS Based 2 FA |
No |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Kraken or Bithumb
| Bithumb | Kraken | |
|---|---|---|
Indicators |
Yes |
50+ |
Drawing tools |
Yes |
16+ |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Kraken or Bithumb
| Bithumb | Kraken | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Kraken or Bithumb
| Bithumb | Kraken | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
No |
Bithumb vs Kraken: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Bithumb | Kraken |
|---|---|---|
Bank Transfer |
Yes (Only Deposit) |
Yes |
Credit/Debit Card |
Yes (Only Deposit) |
Yes |
Electronic Wallets |
No |
No |
Crypto |
Yes |
Yes |
Bithumb vs Kraken: Research
| Research Type | Bithumb | Kraken |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Bithumb vs Kraken: Education
| Education Type | Bithumb | Kraken |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Kraken vs Bithumb: Support
| Support Features | Bithumb | Kraken |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
No |
Yes |
Other |
No |
No |
Bithumb vs Kraken: Crypto Bonuses and Promo
| Promo | Bithumb | Kraken |
|---|---|---|
Crypto Bonus |
No |
No |
Affiliate Program |
30% from refferal's trading commission |
up to $1000 per refferal |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on Kraken
-
Comment
Kraken offers a wide range of cryptocurrencies and has a solid reputation in the industry, but serious issues with usability, customer support, and reliability detract from its appeal as a crypto exchange option.
-
Comment
I have to say they are scammers. He believed in Kraken, held coins on their crypto exchange. I recently found out that they deducted 50% of the balance from my trading account because I had not logged into my account for a long time. Who does this! And this without warning, of course!
-
Comment
It used to be not bad here, but every year the Kraken exchange dies down, as its turnover falls. Now it cannot be said that this is a large exchange, which it once was ...
-
Comment
I tried different exchanges, eventually settled on Kraken. Here are the best conditions for me. I have my favorite tools, the platform is understandable, I figured it out quickly and so far (for six months) nothing has lagged. The commission is also adequate, often below the market. Analytical materials are generally informative. But I’ll clarify right away: I was initially interested in a broker for active independent trading. There are no investment programs in Kraken, and that suits me. If you want extra income, then this is not your option, don't waste your time. I won’t say anything about beginners: on the one hand, Kraken provides basic training, but you can’t call the support service, except for a ticket or a chat.
-
Comment
I see that many people praise the Kraken exchange for its reliability and comfortable conditions for cooperation. I've been using this platform for about a year, and it's really good here. I would also like to note a high-quality trading terminal, it is simple and at the same time functional, even take profit and stop loss are integrated. The Kraken exchange has many advantages, so I will not list all of them. You will see for yourself if you register. I just want to name the cons such as the lack of telephone communication and investment programs. Also, the exchange favors active traders.
Top 5 Reviews on Bithumb
-
Comment
My experience with Bithumb regrettably fell short of expectations. The fee structure appeared disproportionately high, significantly diminishing potential gains. In light of these cons, I would cautiously advise against entrusting one's assets to Bithumb.
-
Comment
Found a better exchange. Bithumb immediately attracted me, but then I realized that they were weak in terms of conditions. There are better markets. Also, there were problems with the service, then a freeze, then a delay, all this affects the quality of trading, so I decided to find a better company. And found! I wish everyone to find the perfect crypto exchange for their needs.
-
Comment
Whoever has funds on the Bithumb crypto exchange, withdraw them to another exchange and quickly, otherwise there is a risk that your account may be blocked, like me. And most importantly, they blocked it for an incomprehensible and non-specific reason. They say that for security reasons, they promise that after checking the account, they will unblock it. They've been checking for over 3 weeks now! And there, by the way, they have my 550 dollars left!
-
Comment
I tried trading with Bithumb Global purely out of interest, after all, the exchange is more for the Asian market, and I thought that the conditions might be different. I won’t say that there is a difference between Bithumb Global and other exchanges with which I have collaborated, but I have received positive impressions from Bithumb Global. In terms of functionality, everything is familiar, but the conditions on the exchange are very favorable. For example, a fixed commission, liquidity is extremely high when trading basic cryptocurrencies, deposit programs at Bithumb Global are not bad. Of the nuances, I note that there are no fiat currencies here. More precisely, there is, but only the Korean won. And there are not many assets in Bithumb Global, a couple of dozen. I do not recommend the exchange for scalping.
-
Comment
I signed up on Bithumb in 2019 and since then I exchange Bitcoin and Ripple here from time to time. The interface of the trading terminal is so simple that even a beginner can figure it out. I can recommend this crypto exchange to novice traders since there is no minimum deposit and the trading commission is fixed. There are no educational articles or videos on the Bithumb website, so you will have to delve into the nuances of crypto trading with the help of other resources. However, the terms of trade are very favorable.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.