BINANCE VS KRAKEN
4.7 / 5
Rating breakdown
Binance Overview
Binance enjoys a huge popularity among online crypto exchange platforms with its main advantages being that it charges minimal withdrawal fees, while offering interested traders and investors the chance to purchase and exchange a great variety of different cryptocurrencies.
4.0 / 5
Rating breakdown
Kraken Overview
Kraken is one of the longest established cryptocurrency exchanges in the industry, since it was initially launched back in 2013. Kraken is the chosen crypto exchange for many users across the globe and the present review aims to help you discern whether it is the most suitable and appropriate venue for your own cryptocurrency exchange needs.| # | Exchange's Features | BINANCE Availability | KRAKEN Availability |
|---|---|---|---|
| # | Analytical Tools | ✔ | ✔ |
| # | Mobile App | ✔ | ✔ |
| # | Social Trading | ❌ | ❌ |
| # | Copy Trading | ❌ | ❌ |
| # | Anonymity | ❌ | ❌ |
The variety of online cryptocurrency exchanges on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different Cryptocurrency Exchanges for trading crypto, our team at start-business-online.com team collected over 50 data points. For this review, we will compare Binance vs Kraken.
The Verdict: Binance or Kraken?
There’s no such thing as a perfect crypto exchange, but some are going to be a better fit for you than others.
Objectively, Binance is more reliable based on our criteria above.
What We Really Like on Binance
One of the most trusted brands in crypto
Very fast, easy to use interface
Binance offers extremely low transaction fees
What We Don’t Like on Kraken
No option for phone or email customer service
Other Important Factors That Influence Our decision the most
Kraken is one of the internet’s largest cryptocurrency trading platforms and a very popular one indeed. Having said that Kraken exchange does pose certain disadvantages and limitations, the main ones pertaining to the following:- Customer support issues
Many complaints about KRAKEN center around the exchanges not impeccable customer service and support levels. Many KRAKEN users report difficulties in gaining access to customer support personnel, while there have also been complaints about delays, not only in getting answers and support, but also with the verification process and funds withdrawals. Delays are a usual phenomenon in the crypto exchanges niche, as providers are often simply swamped and overwhelmed by the sheer volume of new users they attract on a daily basis, meaning they cannot serve them all smoothly at the same time. - Reliability issues
Admittedly, KRAKEN has faced certain problems in this regard, with the exchange having to close completely in early 2018. Such incidents tend to undermine the faith and trust that users need to be able to have for their crypto exchange, especially if we are talking about casual, beginner users and those with low risk tolerance regarding their crypto exchange endeavours and might be reason enough to encourage them to look for alternatives for their crypto needs.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Crypto Exchange based on your precise requirements here.