Coinbase vs Binance vs Kraken: Cryptos, Fees, KYC Exchanges Difference
Today we will continue to compare the largest cryptocurrency exchanges. This time we took three exchanges at once for comparison for clarity. Let's look at Coinbase vs Binance vs Kraken. We compare these exchanges by the main parameters and find out which one is better.
|
Binance |
Coinbase |
KRAKEN |
---|---|---|---|
Type of exchange |
Сentralized |
Сentralized |
Сentralized |
Year founded |
2017 |
2012 |
2011 |
Registration country |
Cayman Islands |
United States |
United States |
Trust Score (Coingecko) |
10 |
10 |
10 |
Cryptocurrencies / trading pairs |
1458 |
524 |
609 |
Trading types |
Spot, Futures, Margin trading, P2P |
Spot, Futures, P2P |
Spot, Futures, Margin trading, P2P |
Fees |
0.1% (0.075% option for BNB holder) |
0% - 0.3% |
0% - 0.26% |
2FA |
Yes |
Yes |
Yes |
Mobile application |
IOS, Android |
IOS, Android |
IOS, Android |
Daily trading volume on Spot market |
$13 265 105 972 |
$1 822 726 133 |
$564 410 233 |
Advantages and disadvantages of Coinbase
Pros:
Cons:

Coinbase Review Summary
We have analyzed key features of Coinbase based on 3 important criteria for choosing crypto exchange:
- Trustworthy
- Usability
- Fees
Based on researches and our own tests, we have made an independent rating.
Advantages and disadvantages of Binance
Pros:
Cons:

Binance Review Summary
We have analyzed key features of Binance based on 3 important criteria for choosing crypto exchange:
- Trustworthy
- Usability
- Fees
Based on researches and our own tests, we have made an independent rating.
Advantages and disadvantages of Kraken
Pros:
Cons:

Kraken Review Summary
We have analyzed key features of Kraken based on 3 important criteria for choosing crypto exchange:
- Trustworthy
- Usability
- Fees
Based on researches and our own tests, we have made an independent rating.
About Coinbase exchange

Coinbase is a cryptocurrency exchange & wallet. It was founded in June 2012 and is headquartered in San Francisco, California. The platform offers its users an electronic wallet & platform for conducting transactions with various cryptocurrencies.
The largest cryptocurrency exchange in the world provides two service options: Buying and selling virtual assets. It is the second-largest cryptocurrency exchange in the world as of September of 2022. The platform is gaining in popularity over time. In April 2022, it had more than 100 million users from over 100 countries. People have a cryptocurrency wallet on the app.
About Binance Exchange

At the moment, Binance is the largest cryptocurrency exchange. It has long gone beyond cryptocurrency trading and provides users with unlimited investment opportunities.
About Kraken Exchange

An organization that is popular in the trading market with an accessible platform, Kraken provides an excellent service for digital currency traders at a fair price. Kraken is not subject to any regulatory authority, but this is standard for the cryptocurrency world. Kraken has been able to win the trust of users. No successful hacking attacks have been recorded for the Kraken exchange and there are no ongoing cases of users being scammed through Kraken.
Comparative analysis of Coinbase vs Binance vs Kraken exchanges
Available features

Coinbase offers:

Binance offers:

Kraken ofrers:
Available countries
Coinbase, Binance and Kraken exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries.
Payment methods
You can fund your Coinbase, Binance and Kraken account with a bank card, PayPal or cryptocurrency.
Card Support
All types of bank cards from supported countries are available on Coinbase, Binance and Kraken.
Available Cryptos and Tokens
Coinbase currently supports 533 trading pairs and 219 coins.
Kraken offers 631 trading pairs and 202 coins.
While Binance supports 1466 trading pairs and 357 coins.
Verification (KYC)
Coinbase, Binance and Kraken are very strict about user verification. On all exchanges you will have to enter your data and submit a photo of a document, i.e. go through KYC.
Account deposit
Exchanges offer the following options for funding the account:
Comparison of Trading Fees
Coinbase:
Binance:
Kraken:
Account security
On Coinbase the level of protection is as follows: Password, Confirmation by SMS, 2FA, Hardware keys. It is possible to configure at what amount of money is sent the exchange will ask for two-factor authentication.
Binance offers users Two Factor Authentication (2FA), hardware key, email and phone confirmations, whitelisting for withdrawals, anti-phishing code, monitoring of devices used and account activity.
Kraken's servers are housed in secure facilities, the data is encrypted, and the systems are isolated from each other. In addition, information is duplicated in real time and backups are performed every day. DDoS protection measures include Cloudfare, and all employees are thoroughly vetted by the security service.
Two-factor identification is available for logging into an account, sponsoring other users, trading, and those activities that can be performed using the API. Protection against leakage of user information: Attempts to recover a username or password will not expose any information, including the fact that the account exists. PGP/GPG protection keys are used for encryption of e-mail and e-mail signature, all account information is encrypted, and there is an option to enable a ban on changing settings in order to minimize damage if the account is hacked.
Passive earn on exchanges
Coinbase has Ethereum 2.0, Tezos, Cosmos, Solana, Algorand, Cardano cryptocurrency stacking feature with yields up to 6% p.a. (varies).
Binance exchange is a place where you can invest in many different ways. For example, with dual (bicurrency) investments, standard cryptocurrency deposits, Liquid Swap liquidity supply, subscription to new tokens via Launchpad, Proof-of-Stake cryptocurrency stacking.
Staking on Kraken gives you the power to earn rewards on your cash and crypto holdings. Start staking in just a couple of clicks and automatically earn rewards twice a week. Instantly unstake at any time with no penalties.
Which to choose - Coinbase or Binance or Kraken
All three exchanges are good enough, so the choice will be difficult. Kraken has the highest commissions on spot and the lowest on margin trading. Binance has more opportunities for passive income and investments. Coinbase is more reliable and regulated. In all other respects the exchanges are very similar and the choice will depend solely on the user.
Disclaimer:
NFTs trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.
You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.
FAQs
Which is better Coinbase, Kraken or Binance?
Coinbase, Kraken, and Binance are three different cryptocurrency exchanges with different features, pros and cons. This article will compare all three to help you decide which one you should use.
Kraken vs Coinbase: Kraken was founded in 2011 while Coinbase came into existence in 2012. Kraken offers more trading pairs than Coinbase, but they are both regulated by the SEC (Securities Exchange Commission). They both have low fees and offer high liquidity on their platform. On top of that, they both have an app available for iOS and Android
Does Kraken have lower fees than Coinbase?
Kraken is a cryptocurrency exchange that offers lower fees than Coinbase.
Kraken charges 0.26% for trading fees, compared to the 0.3% charged by Coinbase. Kraken also offers a fee structure that allows market makers to trade without paying any trading fees at all.
On the other hand, Coinbase offers more advanced features and has a higher level of security than Kraken.
Is there anything better than Binance?
Binance is one of the most popular cryptocurrency exchanges in the world. It has a high-volume trading platform, low fees, and numerous coin offerings.
Binance has been gaining popularity in recent years due to its fast and reliable services. The exchange’s design is simple and easy to use. Binance offers limited trading pairs, which are ideal for traders who don’t want to get overwhelmed with options.
Some people argue that there is no better cryptocurrency exchange than Binance because it offers all the features that an investor needs in an exchange, but this may not be true, as there are many other exchanges out there with more features than Binance’s.
Is Binance the best crypto exchange?
At the moment, Binance ranks first in all ratings of cryptocurrency exchanges.
Conclusion
It may seem that some specific attributes of a cryptocurrency exchange, such as the inclusion of certain tokens and other features, might be necessary to choose the best place to buy and sell cryptocurrency. However, it would also be important to consider which one is best for your needs. The exchanges that we looked at today have been around for nearly a decade and are trusted due to this fact. Coinbase, Binance & Kraken are all constantly evolving and providing the necessary services for any company to grow and be successful.
Disclaimer:
You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.