![]() There is also Binance Earn, a non-fungible token service. One example is Binance Academy, which allows beginners to learn the ins and outs of cryptocurrency trading. In addition to features enabling you to buy, sell, and trade crypto-currencies, the platform has some novel offerings. Like Kraken, it offers a wide range of services to individuals and institutions. What is Binance ?įounded in 2017 in San Francisco, Binance is now the leading cryptocurrency exchange and trading platform. These usually require a minimum order size, but are very beneficial. For beginners, Kraken offers guides, videos and extensive documentation.įor institutions and high net worth users, Kraken also has a wide variety of offerings. In addition to the website, there are the mobile applications Kraken, Kraken Pro and Kraken Futures. Different options are available, such as over-the-counter trading, futures trading or even margin trading. Kraken also allows you to trade cryptocurrencies. You can buy cryptos there directly with fiat currencies such as the dollar and the euro. The platform is accessible in over 200 countries. Kraken was established in 2011 and caters to both individuals and institutions for crypto-currency exchange and trading. In terms of transaction volume, Binance is now in first place, while Kraken is in fourth place. ![]() While Binance has proved to be the best site to trade cryptos over the past few months, its competitor has some compelling arguments as well. As of October 2021, Binance had over 15 million users, while Kraken had 6 million. Still, both crypto exchanges have very low fees compared to some of their competitors.Both Kraken and Binance are in the list of the best crypto-currency platforms today. Having a bigger capital also influences the fees, which, in turn, can change the results.Īll in all, when it comes to Binance vs. We did this experiment from Europe, but the results could be different if you're from another part of the world. With Kraken, our return was 995 EUR, for a loss of 0,5%. On Binance, out of the 1.000 EUR, we were left with 988 EUR, which means we lost 1,2% of our capital. Lastly, we transferred the money back into our account (using the most inexpensive withdrawal method). We took 1,000 EUR, used the entire sum to buy BTC (using the cheapest deposit method), then immediately exchanged the Bitcoin for EUR. To determine which crypto exchange was best, we did a little experiment (in June 2021). Both of them use the maker-taker fee structure and offer low fees when compared to other platforms. ![]() When we compare Binance vs Kraken fees, things get a bit interesting. When it comes to security, which should be one of the main concerns of any crypto trader, the winner is Kraken.įees represent another critical aspect, especially if you are a crypto trader. On top of these, Kraken regularly contracts third parties to do proof-of-reserves audits. They even have a bounty-hunting program, where developers are rewarded for finding bugs and security vulnerabilities. Moreover, Kraken even performs tests on their security measures. To be more specific, they hold 95% of all of the deposits in cold storage, geographically distributed throughout different regions. On the other hand, Kraken has several security measurements that aim to heighten the level of security. Both of the platforms live up to strict standards when it comes to the KYC (Know Your Customer) procedure.īinance does not disclose any security measures but has stated that only a small portion of the cryptocurrencies are held in hot wallets, while the rest are kept in cold storage - not connected to the internet. In terms of security, here's what you need to know.
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