- Comparison
- Kraken Vs Coinbase
Trading with the best cryptocurrency exchange is as important as deploying the right cryptocurrency trading strategy, but which offers cryptocurrency traders a better experience?
We have conducted an in-depth review of Kraken and Coinbase to determine which presents the better overall choice and which traders will benefit the most from either provider by looking at their specific strengths and weaknesses.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Kraken vs Coinbase - Verdict
Headquarters | United States | United States |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2011 | 2012 |
Execution Type(s) | Market Maker | Market Maker |
Minimum Deposit | $0 | None |
Negative Balance Protection | N/A | |
Trading Platform(s) | Other, Proprietary platform+ | Proprietary platform, Web-based |
Average Trading Cost EUR/USD | Not applicable | N/A |
Average Trading Cost GBP/USD | Not applicable | N/A |
Average Trading Cost WTI Crude Oil | Not applicable | N/A |
Average Trading Cost Gold | Not applicable | N/A |
Retail Loss Rate | Undisclosed | N/A |
Minimum Raw Spreads | Not applicable | N/A |
Minimum Standard Spreads | Not applicable | N/A |
Minimum Commission for Forex | Not applicable | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
Here is a snapshot of the most notable advantages of Kraken:
- The first cryptocurrency exchange to pass a cryptographically verifiable proof-of-reserves audit
- Court-appointed trustee of the Tokyo government
- Largest Bitcoin exchange for Euro-related transactions
- A partner in German-based Fidor Bank
- 10M+ clients from 190+ countries
- Quarterly trading volume exceeding $200 billion
- A user-friendly crypto on-ramp for beginners
- Quality education for first-time traders and those new to the sector
- API trading for advanced algorithmic trading solutions
Here is a snapshot of the most notable advantages of Coinbase:
- Publicly listed company in the US
- Connects to the active social trading platform TradingView with 50M+ traders
- 8,500+ with crypto assets and offers exceptional liquidity
- $75B+ in quarterly trading volume
- API trading for algorithmic traders
- Trusted cryptocurrency exchange catering to 100 countries
Features & Platforms
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Get Started | Get Started |
Available Markets
Currency Pairs | N/A | |
Cryptocurrencies | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | N/A | |
Stocks (non-CFDs) | ||
Bonds | N/A | |
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Get Started | Get Started |
Kraken has fewer crypto assets than Coinbase, but Kraken also offers Forex trading on its web-based platform.
Here is why we rate Kraken as a better choice for most traders:
- More competitive leverage options
- Negative balance protection
- Dark pool trading
- OTC desk
Typical Spreads & Fees
Average Trading Cost EUR/USD | Not applicable | N/A |
Average Trading Cost GBP/USD | Not applicable | N/A |
Average Trading Cost WTI Crude Oil | Not applicable | N/A |
Average Trading Cost Gold | Not applicable | N/A |
Average Trading Cost Bitcoin | 0.00% to 0.26% | 0.05% to 0.60% |
Minimum Raw Spreads | Not applicable | N/A |
Minimum Standard Spreads | Not applicable | N/A |
Minimum Commission for Forex | Not applicable | N/A |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | N/A | |
| Get Started | Get Started |
Which cryptocurrency exchange maintains the cheaper multi-tier maker-taker model?
Kraken has a minimum transaction fee of 0.16% for makers, 0.26% for takers, and 0.20% on stablecoins and Forex. NFT transactions cost a flat 2.00%, and Kraken Instant Buy 0.9% for stablecoins and 1.5% for cryptocurrencies. Coinbase fees start from 0.60% for takers and 0.40% for makers.
Account Types
Account Types | Kraken | Coinbase |
|---|---|---|
Commission-free Accounts | No | No |
Commission-based Accounts | Yes | Yes |
Demo Accounts | No | No |
Islamic Accounts | No | No |
Social / Copy Trading | No | Yes |
Managed Accounts | No | No |
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.
What else should cryptocurrency traders know about the Kraken and Coinbase account types?
Here is what stands out the most:
- Neither firm offers demo accounts
- Coinbase connects to the social trading platform TradingView
Minimum Deposit
Deposit Snapshot | Kraken | Coinbase |
|---|---|---|
Minimum Deposit | $0 | $1 |
Deposit Fees | Yes + Third-party | Third-party |
E-wallets | Yes | Yes |
Cryptocurrencies | Yes | Yes |
Localized Methods | Yes | Yes |
Total Deposit Methods | 6+ | 8+ |
Supported Deposit Currencies | USD, EUR, GBP, 4+ | USD, EUR, GBP |
Where is it more convenient to make a deposit: Kraken or Coinbase?
While crypto asset deposits are available at both cryptocurrency exchanges, Kraken supports more fiat currencies. Traders may also use credit/debit cards and e-wallets, while localized methods for core global markets are often available.
Coinbase leads Kraken with lower fees, as Kraken levies a 3.75% fee on credit/debit card deposits.
Minimum Withdrawal
Withdrawal Snapshot | Kraken | Coinbase |
|---|---|---|
Minimum Withdrawal | Asset-dependent | More than the applicable withdrawal fee |
Internal Withdrawal Fees | Yes | Yes |
Internal Processing Times | Up to five business days | Within one business day |
Does Kraken or Coinbase have a better withdrawal process?
Both cryptocurrency exchanges apply internal withdrawal fees, and the minimum withdrawal depends on the asset. Coinbase processes withdrawal requests faster, but Kraken is better for cryptocurrency-to-cash transactions and has lower costs, as Coinbase charges a 1% fee on crypto-to-cash transactions plus usual blockchain network fees.
Kraken bank wires go via the firm Etana Custody and have a $150 minimum withdrawal amount and a $35 fee.
Security & Trust
| Get Started | Get Started |
Which cryptocurrency exchange is safer and more trustworthy?
Both exchanges are equally trustworthy, and well-respected would be a fair assessment. Kraken is more secure, as Coinbase reported several significant hacks in its operating history versus none reported at Kraken, except for isolated user-error instances.
Coinbase stores 98% of its customer funds in cold storage, while Kraken deploys industry-leading security features and infrastructure with 24/7 customer support via phone. Traders can also verify assets via proof of reserves using Merkle Tree.
Broker versus Broker Verdict
Kraken
Pros | Cons |
|---|---|
Trusted exchange with over 12 years of operational history | Expensive fees for the Kraken Instant Buy feature |
Staking for non-US clients | Operates under unfriendly US cryptocurrency regulations |
Lightweight, web-based trading platform and user-friendly mobile app | Some traders reported asset losses amid hacks |
200+ liquid cryptocurrencies, meme coins, and NFTs |
Coinbase
Pros | Cons |
|---|---|
Market-leading choice of cryptocurrencies and digital assets | Limited availability for leveraged cryptocurrency trading |
Competitive trading fees with volume discounts in a 9-tier system | |
User-friendly web-based exchange and mobile app | |
24/7 crypto trading and an excellent educational offering for beginners |
Which cryptocurrency exchange is better?
Kraken shines with its security track record, OTC trading desk, and dark pool trading, while Coinbase is better for beginners and stands out with its debit card.
Here is our verdict:
Coinbase may offer US-based clients a better choice, but Kraken is better for cryptocurrency traders globally.
You might also be interested in reviewing the below broker comparisons:
- Coinbase vs Robinhood
- Coinbase vs Webull
- Kraken vs Binance
Read full Kraken Review
Read full Coinbase Review
FAQs
Is Kraken risky?
Kraken ranks amongst the most secure cryptocurrency exchanges globally. Still, cryptocurrency trading is risky, which can often have little to do with the exchange as trading counterparty and more to do with systematic risk in these assets.
Which one is better: Coinbase or Kraken?
Coinbase is better for beginners and cryptocurrency traders who qualify for its debit card, as they can earn rewards and spend their assets seamlessly from the Coinbase wallet. Kraken is a significantly better choice for genuine cryptocurrency traders amid lower fees, a more advanced trading environment, and better global reach.
