Coinbase vs Kraken: Features, Fees & More (2024) (2024)

FAQs

Coinbase vs Kraken: Features, Fees & More (2024)? ›

It's also important to do a thorough cryptocurrency exchange fee comparison. Analysing this metric in this Kraken vs Coinbase comparison, it's clear that Coinbase has the lowest trading fee percentage of Up to 3.99%, while the second place goes to Kraken with a fee of Up to 0.26%.

Kraken and Coinbase have commission-based accounts with the commonly adopted maker-taker model, and both have multiple options for more advanced traders. Kraken maintains cheaper costs than Coinbase, but both are notably more expensive than the global market leader in this space, which is Binance.

Kraken trading fees are usually based on the maker / taker fee structure and differ depending on the trading method. Spot fees for makers go from 0.25% to 0%, while for takers – from 0.4% to 0.1%. Futures fees for makers go from 0.02% to 0%, while taker fees range from 0.05% to 0.01%.

Trading Fees

With Instant Buy, the company charges a fee of 0.9% for stablecoins and 1.5% for other cryptos. Users also get saddled with a 0.5% processing fee if they use an online bank account to purchase their crypto.

With its user-friendly interface, strong security measures, and ability to facilitate fiat transactions, Coinbase has become a popular choice for new and experienced cryptocurrency investors. However, it's worth noting that Coinbase charges higher fees than other cryptocurrency exchanges like Kraken.

Coinbase is ideal for beginners and retail investors, offering a user-friendly interface, educational resources, and a straightforward trading experience. Kraken is better suited for advanced traders, providing advanced trading features, a broader range of trading pairs, and comprehensive security measures.

Final Verdict. While both Coinbase and Kraken are highly trusted cryptocurrency exchange platforms, Coinbase's benefits are more specific to U.S. traders, while Kraken is the best for international traders overall.

Trading fees are charged when your order is executed (matched with another client's order). Orders that are cancelled before being executed (also known as "untouched" orders) do not incur any fees. If you are trading using leverage (an optional, advanced feature), additional margin opening and rollover fees will apply.

Kraken remains one of the very few leading regulated exchanges that has never been breached. Nevertheless, it's recommended that users never hold all their funds on any single crypto exchange.

Are Coinbase fees high? ›

Trading Fees

When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee between 0.05% and 0.60%.

On November 20, the Securities and Exchange Commission (SEC) instituted a civil enforcement action against Kraken, a major U.S. cryptocurrency exchange. The SEC alleged Kraken operated as an unregistered broker, dealer, exchange, and clearing agency, in violation of the Securities Exchange Act.

Out of the top 5 biggest exchanges, Kraken is the only one that has never been hacked, and Kraken has been around for nearly as long as Bitcoin itself.

Binance stands out for lower fees than Coinbase, providing a cost-effective option for traders. If minimizing transaction costs is a priority, Binance offers competitive fee structures.

Cost Breakdown for $1,000 of Bitcoin

Here's how the fees would add up: Retail Fee: Let's consider the higher end of the retail fee range ($4.95) for this calculation. $4.95 per transaction x 2 transactions = $9.90. Bitcoin Purchase/Conversion Fee: $1,000 x 11% = $110.