If you want to buy various currencies using fiat money, two of the best options are Kraken and Coinbase. They’re geared for experienced and novice investors, respectively. Both high-volume and low-volume traders use Kraken because of its low fees and high trading limits. Newer investors in the United States will find Coinbase more convenient because it has a digital wallet and better funding options; Plus, people in the U.S can read our comprehensive Coinbase review to learn more about this platform.

In this article, we explore the features, security, fees, ease of use and more offered by Kraken and Coinbase. While both platforms offer appealing elements like mobile apps and 24/7 customer service, each has advantages that will appeal to different investors. For example: Kraken offers flat purchasing fees – an excellent benefit for lower-volume traders; Coinbase provides easy funding options like PayPal and debit cards – ideal for U.S. based traders.

 

KRAKEN FEATURES

1. The main features of this platform are: low fees, strong security protections, and many currency options.
2. Trade fees: 0% to 0.26%, Credit card purchases: 3.75% + €0.25, ACH purchases: 0.5% plus 0.9 or 1 .5%.
3. The number of cryptocurrencies that we support: 97
4. Security features: Two-factor authentication for email confirmation of withdrawals, best-in-class cold storage option that’s air-gapped, constant surveillance, API key permission control with granular detail, and SSL encryption.
5. The types of transactions we support are: buying, selling, sending, receiving, exchanging, futures trading on Cryptowatch, and staking.
6. The most you can deposit or withdraw from your account each day is $100,000 (for intermediate level members).

 

Kraken Pros

1.    Secure and reliable
2.    Low fees
3.    High deposit and withdrawal limits
4.    Accepts some fiat currency

Kraken Cons

1.    Many options not available to U.S. users
2.    Long verification times
3.    Possibly challenging user interface

 

COINBASE FEATURES

 

1. Our platform is easy to use, even for those who are new to the game. Plus, you can easily withdraw or sell your assets using PayPal.
2. Fees: 0.50% per trade maker-taker, 3.99% for credit card purchases, 1.49% for Coinbase USD wallet or bank account purchases
3. More than 120 cryptocurrencies are supported.
4. Two-step verification, biometric fingerprint logins, insurance in the event Coinbase is breached, FDIC-insured USD balances, AES-256 encryption for digital wallets are just some of our comprehensive security features.
5. The types of transactions we support include buying, selling, sending, receiving, and exchanging.
6. The maximum amount you can deposit or withdraw from your account via ACH is $25,000 per day.

 

Coinbase Pros

1.    Excellent user experience
2.    Easy funding options
3.    Fiat currencies accepted

Coinbase Cons

1.    Not available in all countries
2.    Some coins aren’t accepted
3.    High fees

 

IMPORTANT!

Please note that investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) can be a very risky investment choice and the markets are subject to high levels of volatility. Always consult with a qualified professional prior to making any major financial decisions. This article cannot guarantee the accuracy or timeliness of the information contained within it.