BTC Direct vs Kraken: Fees, Coins, Safety Comparison
| Feature | BTC Direct | Kraken |
|---|---|---|
Overall |
3.2 |
4.5 |
1 |
4.8 |
|
3.7 |
4.1 |
|
3.5 |
4.5 |
|
Investment Instruments |
1 |
3.7 |
Platforms and Charting Tools |
3.8 |
4.5 |
Deposit and Withdrawal |
3.9 |
4.0 |
Research |
4.1 |
4.3 |
Education |
3.5 |
4.2 |
Support |
3.9 |
4.3 |
Bonuses |
3.3 |
2.0 |
|
Your capital is at risk.
|
BTC Direct vs Kraken: Pros and Cons
The BTC Direct (pronounced “Bitcoin Direct”) platform is a cryptocurrency exchange and trading service. It presents the following cryptocurrencies on the platform: Ethereum, Litecoin, Bitcoin Cash, and Ripple. All assets are euro-pegged except those that are US dollar-pegged. It is the same at most crypto exchanges. The company is based in the Netherlands, and the service is fully localized in six European languages. The site offers its users a separate cryptocurrency wallet for each currency. Also, several models of the latest generation hardware wallets can be purchased from BTC Direct. There is a standard affiliate program and the possibility of investing fiat funds in cryptocurrency. Investors have access to exclusive market analysis and a personal consultant.
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.
| BTC Direct | Kraken | |
|---|---|---|
| Overall Pros | simple and convenient trading terminal interface; | 2 FA authentication |
| Cryptocurrencies are sold and purchased in three clicks; | Low minimum deposit | |
| the minimum deposit is 30 euros; | Passive income with staking | |
| major cryptocurrencies are traded on the exchange and are euro-pegged; | Regulated in several countries | |
| low commissions and discounts for big trades; | Minimum maker fee $0 | |
| comprehensive knowledge base and guides on cryptocurrencies; | Over 50 indicators and 16 drawing tools | |
| regular masterclasses (including upon request); | ||
| the ability to exchange cryptocurrencies for fiat funds. | ||
| Overall Cons | NFTs are not available | |
| all materials and technical support are in six European languages only; | ||
| the website doesn’t plan to introduce additional cryptocurrencies; |
BTC Direct vs Kraken: Safety and Regulation
| Regulated By: | BTC Direct | Kraken |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
FinCEN (USA), FINTRAC (Canada), FCA (Great Britain), FSA (Japan), AUSTRAC (Australia) |
BTC Direct vs Kraken: Trading Conditions
| Trading Conditions | BTC Direct | Kraken |
|---|---|---|
Minimum Deposit |
30 |
$1 |
Trading Platforms |
BTC Direct |
Web, Mobile, Mobile Pro |
Max Leverage (Futures) |
44562 |
1:5 |
Number of Markets |
9+ |
374 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptocurrencies |
USD, EUR, GBP, AUD, CAD, CHF, JPY + 98 Crypto |
BTC Direct vs Kraken: Fees
Trading Fees
| Fee | BTC Direct | Kraken |
|---|---|---|
Max Maker |
0.01 |
0.16% |
Max Taker |
0.02 |
0.26% |
Min Maker |
0.01 |
0 |
Min Taker |
0.02 |
0.1% |
Debit/Credit Card Purchase Fee |
0 |
3.75% + $0.25 |
Futures Trading fees
| Fee | BTC Direct | Kraken |
|---|---|---|
Max Maker |
Not supported |
0.02% |
Max Taker |
Not supported |
0.05% |
Min Maker |
Not supported |
0 |
Min Taker |
Not supported |
0.01% |
Non-Trading Fees
| Fee | BTC Direct | 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 |
0.0005 BTC |
0.00001 BTC |
Inactivity Fee |
No |
No |
BTC Direct vs Kraken: Trading Assets
| Asset Name | BTC Direct | Kraken |
|---|---|---|
Overall |
9+ |
167+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
No |
Yes |
Binance Coin (BNB) |
No |
No |
Uniswap (UNI) |
No |
Yes |
Ripple (XRP) |
Yes |
For non US Users |
Polkadot (DOT) |
No |
Yes |
Cardano (ADA) |
No |
Yes |
Stellar (XLM) |
No |
Yes |
IOTA (MIOTA) |
No |
Yes |
Tron (TRX) |
No |
Yes |
Derivatives (Futures) |
No |
Yes |
NFT |
No |
Yes |
Crypto ETF |
No |
No |
BTC Direct or Kraken: Investment Programs
| Asset Name | BTC Direct | Kraken |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
No |
Trading Platforms: Kraken or BTC Direct
| BTC Direct | Kraken | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Kraken or BTC Direct
| BTC Direct | 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 BTC Direct
| BTC Direct | Kraken | |
|---|---|---|
Indicators |
No |
50+ |
Drawing tools |
No |
16+ |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Kraken or BTC Direct
| BTC Direct | 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 BTC Direct
| BTC Direct | Kraken | |
|---|---|---|
Market |
No |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
BTC Direct vs Kraken: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | BTC Direct | Kraken |
|---|---|---|
Bank Transfer |
Yes (Only Deposit) |
Yes |
Credit/Debit Card |
Yes (Only deposit) |
Yes |
Electronic Wallets |
No |
No |
Crypto |
Yes |
Yes |
BTC Direct vs Kraken: Research
| Research Type | BTC Direct | Kraken |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
No |
No |
Chart Analysis |
No |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
BTC Direct vs Kraken: Education
| Education Type | BTC Direct | Kraken |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Kraken vs BTC Direct: Support
| Support Features | BTC Direct | Kraken |
|---|---|---|
Working Days |
24/7 |
24/7 |
No |
Yes |
|
Phone |
No |
Yes |
Online chat |
No |
Yes |
Other |
Ticket |
No |
BTC Direct vs Kraken: Crypto Bonuses and Promo
| Promo | BTC Direct | Kraken |
|---|---|---|
Crypto Bonus |
No |
No |
Affiliate Program |
You will get 0.5% of the trade amount from all trades of your referrals. The referral status is unlimited. |
up to $1000 per refferal |
|
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 BTC Direct
-
Comment
BTC Direct trading is turned into hell. They are in complete control of this process. You want to close a deal, and you can't do it for 3 minutes. Of course, this all has consequences in the form of financial losses. This is how this company works.
-
Comment
BTC Direct may have been normal in the past, but now no one can say anything good about them, since they have already shown their real face quite well. I know firsthand what trading in BTC Direct is.
-
Comment
Newcomers to BTC Direct should definitely not meddle. Not the conditions to try and learn. The conditions are designed for crypto traders who trade in large volumes. I myself did not go to BTC Direct for a long time, because it was simply unprofitable. Now I see more advantages for myself here. I don’t complain about the commission, I receive discounts from time to time, the platform draws my volumes with a bang. Some are afraid that BTC Direct has a limited number of assets, but this exchange is not for those who are looking for something new and in general in search. Those who have a strategy trade here. Webinars, respectively, for advanced traders. I would advise you to soberly assess what you want from the exchange and whether BTC Direct has it.
-
Comment
The BTCDirect crypto exchange is a reliable company that offers not only favorable conditions but also an easy-to-use web-based trading platform. But it will not suit those who are used to changing instruments every day because there are not many instruments here, so you will not overclock too much. My strategy is tailored for Bitcoin, but to some extent, it is also suitable for ETH (Ξ), so BTCDirect conditions suit me fine. It is also convenient that each of the currencies can be traded from different wallets. Another plus of this exchange is the free withdrawal of funds. I don't find any particular flaws in BTCDirect, so I recommend it for trading.
-
Comment
Before I started trading, I encountered difficulties while installing a wallet on my computer. BTCDirect does not offer hot storage, and I did not find instructions on how to download and install the program on the website. I figured it out only with the help of technical support. Although I am reassured by the fact that now my money is in a secure vault, to which only I have access. I am going to work only with Bitcoins, as it is the most liquid instrument, besides, on the BTCDirect exchange, the commission for trading BTC is lower than for other altcoins.
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.