![]() Two-factor authentication: Coinbase offers 2FA via SMS or the Google Authenticator app. This helps prevent any access or changes to your account when you are away from your account. Global settings lock: Kraken has a global settings lock feature that will instantly freeze your account settings for a period of time, anywhere from one to 29 days. U2F security via hardware key: Kraken allows users to secure their account further is a U2F hardware key for offline storage of their crypto access keys. SMS account recovery is disabled to avoid hacking via phone. Two-factor authentication: Kraken requires two-factor authentication (2FA) via Google Authenticator. Whitelisting approved addresses: Kraken requires all withdrawal addresses to go through its verification process, which restricts access to any external address that is not approved. Here are a few of the security options available on each platform: Kraken and Coinbase both offer robust security features, making them two of the most secure places to buy, sell, and store crypto assets. When verified, you can connect a bank account or credit card to immediately begin purchasing crypto. Before buying or selling crypto, you will need to verify your identity with a government-issued photo ID by uploading a picture of it to the app or website. Users can sign up for Coinbase with an email address and password. From there, you can fund your account through your digital wallet or through ACH or wire transfer. To deposit funds, you'll need to go through advanced verification, which includes submitting a picture of your photo ID, proof of residence, and your Social Security number. After you verify your email address, you must secure your account with two-factor authentication. To sign up for Kraken, you can create a free account using your email address and a password. For advanced users, Kraken offers options trading, futures trading, and access to margin trading as well. Kraken’s user interface does feel somewhat dated, and crypto newcomers may feel lost when trying to execute their first trade. ![]() Kraken is designed for more active traders, giving advanced users more options for buying, selling, and trading crypto than Coinbase. Simple interface Buy, sell, and exchange crypto Credit card purchases availableĠ.9% fee for any stablecoins and FX pairs 1.5% fee for any other crypto Purchases by ACH are charged an additional 1.7% + $0.10 Additional 3.75% + €0.25 fee assessed for debit and credit card purchases (not available in the U.S.) Fees vary for crypto trading Deposit and withdrawal fees varyĠ.50% per trade Additional 1.49% for bank account or Coinbase Wallet purchases Additional 3.99% for debit or credit card purchases $10 deposit $25 withdrawal fee for wire transfersĢFA via Google Authenticator app Device-level restrictions U2F security via hardware key Whitelisting pre-approved addresses Global settings lockĢFA via SMS or Google Authenticator app Cold storage and multi-signature wallets USD balances are FDIC-insured (up to $250K) KYC and anti-money laundering protections in placeīuy Sell Trade Deposit Withdraw Stop order Limit order Margin trading Options trading Futures trading Multiple trading interfaces Multiple order types, including margin and futures trading API keys Lower per-trade fees ![]() We’ve reviewed both platforms based on their supported currencies, security, fees, features, and more so you can decide which option is right for you. ![]() Kraken, on the other hand, is a “crypto-first” exchange and offers many types of trading, including margin trading, futures trading, as well as limit orders. Though Coinbase is a simple exchange for exchanging fiat (national currency) for cryptocurrency, it doesn't offer many advanced trading options. The main difference between the platforms is trading ability. The intuitive app and ability to buy crypto with a credit card have made it easier than ever for new investors to get started. It has become the most popular centralized exchange in the U.S., supporting the top cryptocurrencies on the market. Kraken became one of the go-to exchanges for trading Bitcoin in 2013 and has since added over 50 cryptocurrencies to its exchange.Ĭoinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. Gox exchange hack, which drained over $450 million in Bitcoin from investors. Kraken was founded in 2011 by Jesse Powell to help displaced customers from the Mt. Both platforms adhere to strict Know Your Customer (KYC) standards and are designed to help customers securely access, buy, and trade their cryptocurrency. Kraken and Coinbase are two cryptocurrency exchanges that offer investors access to the most popular cryptocurrencies on the market. ![]()
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