BUSINESS

Alt Currency Trading Platforms: Which One is the Biggest Bet in 2021?

Kraken and Coinbase are trading platforms for crypto currencies wherein you can buy, access, and sell crypto at your convenience. Both are popular platforms, and there’s always a healthy debate going on to decide which happens to be the best.

Founded in 2011 by Jesse Powell, Kraken gained popularity in 2013 and was being used by everyone around the globe. You’ll even find Facebook influencers talking about it.

Coinbase was founded by Brian Armstrong and Fred Ehrsam in 2012. With its ability to buy crypto with a credit card, it is a step forward in the future for brand new investors.

Let’s compare its features so that you can take your pick:

Fees

There’s a trading fee that one needs to pay while buying and selling cryptocurrencies online. Kraken’s trading fees are below 0.36%, which may vary for currencies. Coinbase charges 3.99% for debit card purchases and about 1.49% fees for bank transfer purchases.

Kraken is a clear winner here.

User Interface

If you’re new to the world of cryptocurrency, the user interface of Kraken can be a bit difficult to figure out in the beginning. On the contrary, Coinbase is easier to follow and understand, even for newbies. However, as simple as it might seem, the platform’s capacity can be limited in that sense.

Coinbase emerges victorious among the two in terms of the user interface.

Customer Support

Customer support is an essential factor no matter what you’re doing online. With the proper customer support, your issues can be solved in an instant.

Kraken offers impressive and consistent customer support to help you deal with your issues. However, you may still face issues with account verification as it may take a significant amount of time. Coinbase offers customer support over call and email. They promise to resolve your issues within 48 hours, but they may gradually take up to 72 hours to respond.

In this case, both the platforms have their merits and demerits; hence, there’s no clear winner.

Security

Both the companies have done a fairly good job in providing ample protection for the security of funds. There’s the presence of two-factor authentication for added security. Moreover, the funds are stored in offline cold storage wallets to protect them against potential hacks and invasions.

Coinbase has done more in terms of security for the funds. They’re more precautious and have additional features. Hence, it’s better between the two.

Bottom Line

It is tricky to invest in cryptocurrency, but there’s no looking back once you get started. You can watch countless Youtube videos about them or convert YouTube to mp3 for listening later, and you’ll always discover new facts about crypto. It can be challenging to choose a site for buying cryptocurrencies.

If you’re starting on your journey just now, Coinbase should be your first choice as it’s simpler and easier to understand. If you have been dealing with crypto for quite some time now, Kraken should be your go-to option. Also, it charges low fees comparatively.

We hope we could help you make a fair choice between the two with proper features comparison; the final choice is always yours.

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