Kraken vs Coinbase: Fees, Coins, Safety Comparison
When comparing Kraken and Coinbase, it's important to note that Kraken is known for its robust security features and advanced trading options, making it a preferred choice for experienced traders, whereas Coinbase's simplicity and ease of use appeal to newcomers entering the cryptocurrency market.
When you want to start trading cryptocurrencies, one of the first you’ll often do is find the right crypto exchange that has all the features and functionality you need based on your specific needs and goals.
The problem is that there are so many exchanges out there that it’s often difficult to choose the right one. Fortunately, we are here to help. At Traders Union, our experts compare exchanges by using 11 key criteria. They then give each exchange an overall rating based on the criteria they considered.
In turn, this helps traders, like you, make the best choice when it comes to choosing the right exchange. What that in mind, we’ll now look at Kraken and Coinbase in more detail and see how they compare.
Kraken vs. Coinbase: Ranking
| Feature | Kraken | Coinbase |
|---|---|---|
Overall |
4.5 |
4.6 |
Regulation |
4.6 |
4.8 |
Fees |
3.9 |
3.5 |
Trading Assets |
3.9 |
4.4 |
Investment Instruments |
3.7 |
3.7 |
Platforms and Charting Tools |
4.5 |
3.6 |
Margin Rates |
3.2 |
3.5 |
Deposit and Withdrawal |
4 |
4 |
Research |
3.5 |
4.5 |
Education |
4.1 |
4.8 |
Support |
4 |
4.8 |
Promo |
2 |
4.6 |
Before looking at these two exchanges in more detail, let's look at our overall ranking. Here, Coinbase ranks better, but only slightly. From the table above, you can see that Coinbase performs better when it comes to regulation, the variety of trading assets it offers, the education it provides, and its support. Another major benefit of Coinbase is the promotions it offers.
Kraken, on the other hand, performs better when it comes to trading fees, its trading platform, and charting tools. Let’s now look at each of these categories in more detail.
Read more about Best Crypto to InvestKraken vs. Coinbase: A Brief Introduction
| Kraken | Coinbase | |
|---|---|---|
Overall Pros |
2 FA Authentication |
2 FA Authentication |
Low Minimum Deposit |
Low Minimum Deposit |
|
Passive Income With Staking |
Passive Income With Staking |
|
Regulated in several countries |
By studying courses you can get cryptocurrency |
|
Minimum maker fee $0 |
Solid regulation |
|
Over 50 indicators and 16 drawing tools |
Strong liquidity |
|
Overall Cons |
High margin rates |
Max Leverage – 1:1 |
Not a big choice of cryptocurrencies |
High Trading and Non-Trading Fees |
|
No referral programme |
Indicators Not Available |
|
Derivatives, NFT, ETF Not Available |
Derivatives, NFT, ETF Not Available |
Kraken vs Coinbase: Safety and Regulation
| Regulated By: | Kraken | Coinbase |
|---|---|---|
SEC |
 No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
FinCEN (USA), FINTRAC (Canada), FCA (Great Britain), FSA (Japan), AUSTRAC (Australia) |
Regulated in 45 States in the USA |
Before looking at the subcategories in more detail, let’s first look at the background of each of the exchanges. Coinbase is an American cryptocurrency exchange that was founded in 2012. Over the years, the platform has grown significantly and is now the largest cryptocurrency exchange in the United States by trading volume.
Kraken was founded in the United States in 2011 and has also shown substantial growth since then and is now one of the largest cryptocurrency exchanges available. As such, its services are available to residents of 48 states in the United States and 176 countries.
Both of the platforms provide excellent security, are regulated, and offer passive income options.
When it comes to safety and regulation, both exchanges are properly regulated. Kraken is registered as a Money Services Business with FinCEN in the United States and FINTRAC in Canada. The exchange, through its subsidiaries, is also regulated in the United Kingdom, Australia, and Japan.
Likewise, Coinbase is registered as a Money Services Business with FinCEN and is licensed to provide its services in 45 United States jurisdictions.
Coinbase vs Kraken: Trading Conditions
| Trading Conditions | Kraken | Coinbase |
|---|---|---|
Minimum Deposit |
$1 |
$25 |
Trading Platforms |
Web, Mobile, Mobile Pro |
Web, Mobile |
1:5 |
1:1 |
|
Number of Markets |
374 |
367 |
Number of Cryptocurrencies |
98 |
119 |
Number of Trading Accounts |
1 |
1 |
Base Account Currencies |
USD, EUR, GBP, AUD, CAD, CHF, JPY + 98 Crypto |
USD + 6 Crypto |
In respect of trading conditions, Coinbase and Kraken are evenly matched. So, while Kraken offers more trading platforms and a lower minimum deposit requirement, Coinbase offers access to more cryptocurrencies.
Here, a significant difference is in the number of base account currencies that the exchanges offer. Here, Coinbase allows customers to make deposits in USD, EUR, GBP, and 6 cryptocurrencies. In contrast, Kraken allows customers to make deposits in USD, EUR, GBP, AUD, CAD, CHF, JPY, and 98 different cryptocurrencies.
Kraken vs Coinbase: Trading Assets
| Asset Name | Kraken | Coinbase |
|---|---|---|
Yes |
Yes |
|
Yes |
Yes |
|
Yes |
Yes |
|
Yes |
Yes |
|
Yes |
Yes |
|
For non US Users |
No |
|
Yes |
Yes |
|
Yes |
Yes |
|
Yes |
Yes |
|
Yes |
Yes |
|
Yes |
Yes |
|
No |
No |
|
Yes |
No |
|
No |
No |
|
No |
No |
|
DeFi Tokens |
Yes |
Yes |
Both Kraken and Coinbase offer trading in all the major cryptocurrencies. As such, both offer trading in Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE), Uniswap (UNI), Cardano (ADA), Stellar (XLM), and more.
Here, it's important to keep in mind that, while Coinbase does not offer any trading in Ripple (XRP), Kraken does for non-US residents. Another difference is that Kraken also offers indices, futures, and margin trading, while Coinbase doesn’t.
Where can you buy Dogecoin? Learn more about 5 best platformsKraken Fees vs Coinbase Fees
Let's now look at how Coinbase and Kraken compare in respect of both trading and non-trading fees.
Trading Fees
| Fee | Kraken | Coinbase |
|---|---|---|
Max Maker |
0.16% |
0.5% |
Max Taker |
0.26% |
0.5% |
Min Maker |
0% |
0% |
Min Taker |
0.1% |
0.04% |
Debit/Credit Card Purchase Fee |
3.75% + $0.25 |
3.99% |
Considering the above table, Coinbase is generally more expensive in respect of trading fees and the platform is also more expensive when you buy cryptocurrency's with your debit or credit card.
Non-Trading Fees
| Kraken | Coinbase | |
|---|---|---|
Account Fee |
0% |
0% |
Deposit Fee |
$0 - $10, depending on the payment service |
0% |
Bank Transfer Withdrawal Fee |
4 - 35 USD |
1.49% |
Debit/Credit Card Withdrawal Fee |
3.75% + $0.25 |
3.99% |
Inactivity Fee |
0% |
0% |
When it comes to non-trading fees, both platforms are evenly matched. As such, both offer free deposits. Keep in mind, though, that for some deposit methods, Kraken charges a $10 fee.
Moreover, while Coinbase charges a percentage of the amount you withdraw as a fee for withdrawals, Kraken charges fees that range anything from $0 up to $35 for withdrawals using bank transfers.
Read more about Brokerage fees and commissions explainedKraken vs Coinbase: Margin Rates
| Feature | Kraken | Coinbase |
|---|---|---|
Max for BTC (changing) |
0.02% (per 4 hours) |
Not allowed |
Min for BTC |
0.01% for opening position |
Not allowed |
Number of Levels |
Not changing |
Not allowed |
Only Kraken offers margin trading, so you’ll need to pay a fee every time you trade with leverage. Here, Kraken will charge you a fee of up to 0.02% to open a position and up to 0.02% every four hours to keep it open.
Kraken or Coinbase: Passive Income Tools
| Investment Tools Name | Kraken | Coinbase |
|---|---|---|
Staking |
Yes |
Yes |
Mining Pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
No |
Both platforms give you the ability to earn a passive income by using staking. However, Kraken has a larger variety of cryptocurrencies available for staking including Ethereum, Cardano, , Bitcoin, Solana, Cosmos, and more. In turn, Coinbase only offers staking on four cryptocurrencies which are Algorand, Cosmos, Ethereum, and Tezos.
Read more information about how to buy EthereumBest Trading Platform: Kraken or Coinbase
| Kraken | Coinbase | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
Both exchanges offer mobile apps and web platforms that you can use for trading. In addition, Kraken also offers the Kraken Pro mobile app, which is specifically designed for more experienced traders. As such, it offers advanced order types and multiple charting options.
Trading Platform Features
| Kraken | Coinbase | |
|---|---|---|
SMS Based 2 FA |
No |
Yes |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
Yes |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Both platforms offer two-factor authentication as an important security measure. Here, both offer app-based authentication, while Coinbase offers additional options. The platforms are also comparable in respect of the other features they offer.
Technical Analysis/Charting Tools
| Kraken | Coinbase | |
|---|---|---|
Indicators |
50 |
0 |
Drawing Tools |
16 |
0 |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
When you want to use technical analysis and charting tools in your trading strategies, Kraken is the clear winner. Unlike Coinbase that offers no tools, Kraken offers 50 indicators and 16 drawing tools.
Mobile Trading
| Features | Kraken | Coinbase |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
As mentioned earlier, both platforms offer mobile apps that you can use to trade cryptocurrencies on the go. Here, both Coinbase and Kraken offer Android and iOS versions of their apps.
Types of Orders
| Kraken | Coinbase | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
Yes |
Stop Limit |
Yes |
No |
Trailing Stop |
No |
No |
Both platforms offer market, limit, and stop loss orders. Kraken also offers stop limit and trailing stop orders.
Read more about Stop Loss vs. Stop Limit: definition and differenceCoinbase vs Kraken: Deposit and Withdrawal
| Deposit and Withdrawal Method | Kraken | Coinbase |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes |
Yes |
Both platforms offer the same deposit and withdrawal methods which include bank transfers, credit and debit cards, and crypto. However, in addition, Coinbase also offers an electronic wallet. With this wallet, you're able to deposit cash and then use it for purchasing crypto.
Coinbase vs Kraken: Research
| Research Type | Kraken | Coinbase |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
When it comes to research, Coinbase inches ahead of Kraken. This is simply because it offers a news feed and fundamental data that you can use when trading.
Kraken vs Coinbase: Education
| Education Type | Kraken | Coinbase |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
Yes |
No |
Books |
No |
No |
Both platforms offer a wealth of educational materials. They thus offer a variety of articles, guides, and educational videos on how crypto works and how to trade. Kraken also offers a series of webinars with deeper insights into crypto, while Coinbase offers courses that you can use to learn more about it.
Kraken vs Coinbase: Support
| Support Features | Kraken | Coinbase |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Both platforms are evenly matched when it comes to support. As such, both offer 24/7 email, phone, and chat support.
Coinbase vs Kraken: Promotions
| Promo | Kraken | Coinbase |
|---|---|---|
Special Offers |
No |
Up to $35 for learning how specific cryptocurrencies work |
Referral Program |
No |
$10 when your friend completes a buy or sell of $100 USD |
Kraken has no special offers, promotions, or referral programs. In contrast, Coinbase does. One of the unique features of the Coinbase platform is that it allows you to earn crypto while learning about specific cryptocurrencies. Here, you’ll need to complete a course on a specific cryptocurrency, and then you’ll earn rewards in that cryptocurrency.
Coinbase also offers an affiliate program, which means you'll be able to earn commissions for promoting the platform
Kraken or Coinbase: Which is Better in 2024?
Considering the comparison of the two exchanges above, it's clear that they’re similar in many respects. For instance, they're both properly regulated, they offer both mobile and web trading platforms, they offer the same deposit and withdrawal methods, and they allow you to trade in all the major cryptocurrencies.
However, based on our analysis, Coinbase edges out Kraken by a small margin. One of the reasons for this is that it gives you access to more cryptocurrencies. Moreover, its unique learning feature where you’ll be able to earn cryptocurrencies when you learn about them, and the fact that it has an affiliate program counts in its favor.
Kraken vs. Coinbase: Key Features
Both platforms are comparable when it comes to non-trading fees, but Kraken is a bit cheaper in respect of trading fees. However, keep in mind that there’s not a significant difference between the two.
Although both platforms are regulated, Coinbase is licensed in many states. Also, Coinbase offers more two-factor authentication options.
With its advanced technical indicators and charting tools, Kraken is more suitable for day trading.
Both Kraken and Coinbase give you the ability to trade with all the major cryptocurrencies. However, Coinbase has a larger variety of other cryptocurrencies available for trading.
When it comes to margin trading, Kraken is the clear winner as it's the only platform that offers this feature.
Summary
Hopefully, this post helped illustrate the differences between Coinbase and Kraken and will help you choose the right platform for your specific needs and requirements.
For more insights like these, other exchange reviews, or to learn more about crypto, why not join Traders Union today.
FAQs
Apart from the information above, we've also compiled a list of frequently asked questions in respect of Coinbase and Kraken.
Will my money be safe when I deposit funds into either Coinbase or Kraken?
Yes, your money will be safe. Both Coinbase and Kraken are reputable and trusted cryptocurrency exchanges.
Should I use leverage when trading?
Ultimately, whether you use leverage depends on your specific goals and risk requirements. Keep in mind, though, that while using leverage can be effective at increasing your profits, it can also lead to you losing more money.
What is a cryptocurrency index?
Indices, as offered by Kraken, simply track the performance of a specific cryptocurrency or group of cryptocurrencies.
What cryptocurrency should I buy?
With the large variety of cryptocurrencies available, what you buy depends on your specific goals and how much risk you're willing to take.
Team that worked on the article
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.