![]() ![]() ![]() Trade charges for Binance are usually 0.1% or less. Both margin and futures trading may incur additional fees. Withdrawal fees for Kraken can reach up to $60. If they are more active and trade more money, then the fees will be lower. Kraken charges up to 0.26% per trade, but the amount varies depending on the user’s activity level in 30 days. Kraken and Binance both utilize the maker-taker fee structure, allowing them to have lower fees than other crypto exchanges. While both crypto exchanges offer two-factor authentication and other usual security measures, Kraken beats Binance when it comes to safety and security. It helps the company identify vulnerabilities in their security system and improve them. On top of that, it has an ongoing bug bounty hunting program. They perform penetration testing and undergo proof-of-reserve audits. Kraken has been outstanding in ensuring its security protocols. Many users lost their trust in the platform, and many questions have been raised about its security. About $40 million worth of bitcoin was stolen. In 2019, Binance was hacked, unfortunately. In this platform, multiple crypto exchanges can be done via its own Cryptowatch. Its track record when it comes to security and safety is unmatched among all crypto exchanges. Kraken is one the most trusted crypto exchanges there is because it has never been hacked. Keep in mind that that for USA residents, only Kraken offers Polkadot (DOT).īinance has more currencies supported, but Kraken supports the most popular coins and tokens. In addition to stable coins and fiat currencies, Kraken and Binance also support a myriad of trading pairs and popular cryptocurrencies like Dogecoin (DOGE), Bitcoin cash (BCH), Litecoin (LTC), Cardano ADA), Ether (ETH), and Monero (XMR). Users will find niche coins with smaller market caps on Binance due to a wider selection of available currencies. It also accepts 19 fiat currencies, including USD, EUR, GBP, and HKD. Moreover, users from the USA are limited to 52 coins.īinance supports 500 currencies for its users and stablecoins like Binance USD (BUSD), DAI, and Tether. These fiat currencies are USD, CAD, EUR, GBP, and AUD. These are government-issued currencies and aren’t related to any other financial assets such as gold. Stablecoin is a new class of cryptocurrency that attempts to offer price stability. Kraken has 69 currencies on offer, including three stablecoins – USD Coin (USDC), DAI (DAI), and Tether (USDT). It also offers advanced charting and technical analysis. In Kraken, a unique feature called the Cryptowatch allows users to place multiple trades at once, taking advantage of many opportunities.īinance offers peer-to-peer (P2P) trading and margin lending. Binance, in this case, gives more value for money than Kraken. You have to determine whether they offer acceptable quality compared to their prices. Value for money is one of the most important parameters you should consider when choosing cryptocurrency exchanges. Margin trading, for one, can’t be accessed by Binance USA users. They both provide advanced trading features, allowing users to buy, sell, and trade crypto, place market orders, and do other transactions.Īs for Binance, some features are available on Binance USA but not for Binance in other countries. Kraken and Binance have the same features that they offer to users. But unfortunately, Kraken doesn’t offer as many cryptocurrency pairings as its competitors. ![]() Kraken is not afraid to delist altcoins that it believes are potentially harmful – one example is Bitcoin SV. One reason for this is accessibility: Kraken is only available in the USA, while Binance is available in the USA, Europe, Africa, and Asia. Binance has about 13.5 million users Kraken only has around four million. In terms of average trading volume, Binance ranks first, and Kraken is fourth. They both have a simple and straightforward interface. Both exchanges have a lot of educational materials on their websites. Binance, on the other hand, can be used by both beginners and advanced users. To start with the comparison, Kraken is situated in San Francisco, USA, and was founded in 2011, while Binance was established in 2017 and has no centralized headquarters. ![]()
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