Kraken vs Kucoin – which is the best

We continue comparing top cryptocurrency exchanges to identify the best ones. This time the editorial team will look at the pair Kraken vs KuCoin, two actively developing platforms with extensive functionality. In many ways they are similar, both have a lot of pluses that give weighty advantages to it, both are easy to trade and equipped with investment tools. But there are also many differences. We will look at both exchanges in more detail.


Kraken

kucoin

Type of exchange

Сentralized

Сentralized

Year founded

2011

2014

Registration country

US

Seychelles

Trust Score (Coingecko)

10

10

Cryptocurrencies / trading pairs

609

1261

Trading types

Spot, Futures, Margin trading, P2P

Spot, Futures, Margin trading, P2P

Fees

0% - 0.26%

0.1%

2FA

Yes

Yes

Mobile application

IOS, Android

IOS, Android

Daily trading volume on Spot market

$564 410 233

$944 330 535

Advantages and disadvantages of Kraken

Pros:

  • Quite high quality and responsive tech support
  • The bulk of client funds are placed in "cold" cryptocurrencies
  • It safely handled hacker attacks in 2012 - 2014
  • Has been working and developing since 2011

Cons:

  • The list of virtual currencies and fiat money accepted for listing is very rarely updated with new assets

Kraken Review Summary 

91% Overall

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.
90%
Trustworthy
89%
Usability
93%
Fees

Advantages and disadvantages of KuCoin

Pros:

  • KYC is not required
  • Ability to buy from card
  • Higher leverage (up to 100x)
  • Own KCS token
  • Mining pool and cloud mining
  • KuCoin Chain (KCC) blockchain ecosystem

Cons:

  • Not quite a quality localization of the interface

KuCoin Review Summary 

92% Overall

We have analyzed key features of KuCoin 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.
92%
Trustworthy
89%
Usability
95%
Fees

About Kraken Exchange

Kraken is one of the most popular cryptocurrency exchanges. It is in first place in terms of trading volume in the BTC/EUR pair.
Kraken is owned by Payward Inc. The exchange is not controlled by any supervisory authority, but this is a standard situation for the cryptocurrency world (at least for today).
Kraken has managed to gain the trust of its users. No successful hacking attacks on the exchange have been recorded. In addition, Kraken was chosen as a platform through which users who were victims of the Mt.Gox scam could claim their lost funds. Mt.Gox was a huge Japanese bitcoin exchange that filed for bankruptcy in 2014 after a series of questionable incidents. The company was placed under special administration, with Kraken acting as a trusted partner to process payments to creditors.
Kraken keeps most of its assets in cold wallets, of course, except for those directly used to secure trades.
It is worth noting that users leave not only positive reviews about the exchange. Complaints range from slow deposit processing and difficulty communicating with customer support to improper execution of stop-loss orders.
You will find quite a few tools for trading on Kraken. Kraken is primarily known for trading bitcoin and Ethereum against fiat (USD and EUR), but altcoins are also present.

About KuCoin exchange

KuCoin Exchange is one of the largest crypto exchanges with large transaction volumes. It features all major cryptocurrencies and tokens. Its own trading terminal is convenient for both novice traders and professionals. Some difficulties may arise for users who do not know English well, because many materials and functions are available only in it.

Comparative analysis of Kraken and Kucoin exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

Kraken offers:

  • There is an option of margin trading
  • The best security measures have been implemented
  • The trading platform provides registered clients with the opportunity to study expert opinions, analyze quotes and watch online charts of prices of cryptocurrency pairs on the professional resource TradingView.

Kucoin offers: 

  • Mining pool
  • IEO
  • NFT market

Available countries

Kraken and Kucoin exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries. 

Payment methods

You can fund your Kraken and Kucoin account with a bank card, PayPal or cryptocurrency.

Card Support

All types of bank cards from supported countries are available on Kraken and Kucoin.

Available Cryptos and Tokens

Kraken currently supports 631 trading pairs and 202 coins. 

Kucoin supports 1268 trading pairs and 715 coins.

Regulation

Kraken is regulated by FinCEN (USA), registration number 31000176593851. In Canada, the platform is regulated by FINTRAC, registration number M19343731.

In the UK, the services are represented by CryptoFacilities Ltd, registration number 757895, regulated by the FCA. Australia - legal entity Bit Trade Pty Limited (ABN 42 163 237 634, ACN 163 237 634), regulator AUSTRAC, Australian Reporting and Analysis Centre. Japan - legal entity Payward Asia, K. K., registration number 00022, regulator The Director-General of the Kanto Local Finance Bureau.

In the UAE the financial services are provided by Payward MENA Holding Limited registered in Abu Dhabi and supervised by the Financial Services Regulatory Authority (Financial Services Authorization Number 190008).

For users from other countries the contract is concluded with Payward Trading Ltd registered in British Virgin Islands. For Kraken Futures, the data controller is Payward Pte. Ltd. or Payward Global Trading Pte. Ltd, registered in Singapore (regulator Monetary Authority of Singapore (MAS), regulatory framework Payment Services Act (PSA).

There is no information about the Kucoin regulation and the corresponding license.

Interface

The interface of the exchanges is quite convenient and clear. Any user can immediately understand all the functions. Do not worry, if you do not understand something, you can always see the training and tips.

Verification (KYC)

Kraken has good security measures, so the identity verification process here is particularly difficult for traders. The project implements a holistic concept, spelled out in the international standards of identification of online customers (Know Your Customer). There is a comprehensive examination of the identity of the investor or crypto trader who comes to work at the site. Verification on Kraken is multi-level - 5 stages in total. Successful completion of each stage brings more freedom to use the options, features and services of the crypto exchange.

Verification on KuCoin was officially integrated in 2018 and has two levels, basic and advanced.

Differences between levels:

Without verification - withdrawal no more than 1 BTC per day, crypto-fiat transactions are prohibited, leverage in futures trading up to 5x.
Basic - withdrawal up to 1 BTC per day, crypto transactions are prohibited, leverage when trading futures up to 20x.
Advanced - withdrawal up to 200 BTC per day, crypto transactions up to $100 000 per day, leverage up to 100x when trading futures.

Account deposit

Exchanges offer the following options for funding the account:

  • Crediting a fiat account with a card or payment system
  • Purchase from a card
  • Direct transfer of cryptocurrency to the exchange address

Comparison of Trading Fees

Kraken:

  • Spot - Percentage of the order to be opened. From 0% to 0.16% for market makers and from 0.10% to 0.26% for takers
  • Margin trading - Its average value for all assets is 0.01-0.02% of the total amount of the opened order. This percentage is deducted every 4 hours as long as the trade is active

Kucoin:

  • Base trading commission on the KuCoin exchange, spot market: 0.1%/0.1% (maker/staker). Futures: 0.02%/0.06%
  • Commissions can be reduced by increasing trading volumes or by holding KCS tokens in your account

Account security

Unlike most crypto exchanges in the world, Kraken has all relevant licenses and certifications.
Among others, Kraken is accredited by the American FinCEN (registration number 31000176593851), Canadian FINTRAC (M19343731), British FCA (757895), Australian AUSTRAC and Japanese FSA. All in all, few exchanges can boast such a number of government licenses as Kraken.

The following options can be activated for protection on KuCoin: password, two-factor authentication, phone and mail binding, trade password (used to confirm financial transactions), anti-phishing code.

If suspicious activity is detected, both crypto-exchanges allow you to freeze your account to temporarily ban any transactions on it.

Passive earn on exchanges

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.

In the Kucoin Earn section, users have the following options to earn passive income based on the cryptocurrency they have: Cryptocurrency lending, you provide your cryptocurrency to other traders for margin trading and receive a percentage profit, burning Drop - Staking popular cryptocurrencies, flexible and fixed deposits, ETH 2.0 steaking, participation in Polkadot parachain auctions, daily bonuses for holding native KCS tokens, KuCoin Spotlight - IEO platform for distributing tokens of new projects among investors, mining pool and cloud mining.

Final Thouhts: which exchange to choose - Kraken or Kucoin

KuCoin, however, has the significant advantage of not having to undergo KYC. Therefore, supporters of anonymity are more likely to opt for KuCoin. Otherwise, exchangers are very similar, have great functionality, quality support and a high level of security.

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

Are my funds safe on Kraken?

Yes, Kraken has all relevant licenses and certifications. The exchange is completely legal and safe.

Is Kraken more safe than Coinbase?

There is no standard answer to this question as it depends on each individual's risk tolerance and needs. Some people may find Kraken to be more safe than Coinbase due to its features, while others may prefer Coinbase for its simplicity. It really comes down to what is more important to the individual - security or ease of use.

Is it safe to have money on KuCoin?

Since its inception in 2011, Kucoin has become one of the most popular cryptocurrency exchanges on the market. Serving over five million customers worldwide, Kucoin offers a safe and secure platform for buying, selling, and storing cryptocurrencies. In terms of safety, Kucoin takes several measures to protect its users' assets. For example, all user funds are stored in cold wallets offline to prevent hacking. In addition,Kucoin employs a cutting-edge risk management system to ensure that all trades are executed securely. Overall, Kucoin is a very safe and reliable place to buy, sell, and store cryptocurrencies.

Can American open KuCoin account?

Yes, KuCoin is a cryptocurrency exchange that allows you to buy and sell cryptocurrencies. You can register for an account on their website.

Where is Kraken from?

Kraken is a centralized cryptocurrency exchange established in 2011 and is registered in United States.

Conclusion

There is no reason to worry about quality and safety on Kraken and Kucoin. When choosing a cryptocurrency exchange, it's important to remember to consider factors like reliable security, withdrawal and deposit fees and many others. Make sure that the attributes that matter most to you are present in the exchange before you make a decision. Both of these exchangers are both proven to work for a long time and as such, are only worth your trust. Both Kraken and Kucoin are growing constantly with the cryptocurrency market, which is necessary for any company to succeed.

Comparison of other exchanges

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.

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