Coinbase vs Kraken: Bitcoin websites compared
In this article we set up a Coinbase vs Kraken comparison and explain which provider suits you better. While Coinbase is more suitable for beginners, octopus will be better for more advanced users. The two providers also differ significantly in the number of cryptocurrencies offered.
Coinbase - Secure crypto website from California
- On Coinbase you can trade Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Since Coinbase attaches great importance to quality, new cryptocurrencies are added very slowly.
- Coinbase was founded in 2011 in San Francisco and also has its headquarters there. Worldwide, Coinbase has over 13 million users from 32 countries.
- The trading platform attaches great importance to security and user-friendliness. Of all the trading venues, Coinbase is the most advanced in these two aspects.
- The platform's large user base ensures high liquidity. Payments are therefore reliable and quick.
- Coinbase has not yet been hacked. This makes them one of the few crypto exchanges that have so far not had a serious security incident.
- If trading with Bitcoin, Ethereum, Litecoin, and Bitcoin Cash is enough and you are just starting out with cryptocurrencies, Coinbase is probably your best bet.
Kraken - trading place with many cryptocurrencies
- Kraken offers trading in Bitcoin, Ethereum, Ethereum Classic, Dash, Litecoin, Ripple, Monero, Bitcoin Cash and other cryptocurrencies. A full list can be found on the Kraken website.
- Like Coinbase, the company was founded in San Francisco in 2011. It has users from the US, Canada, Japan and the EU.
- Kraken wants to offer a good compromise between usability, security and the number of cryptocurrencies on offer. She manages this balancing act best of all trading platforms for cryptocurrency.
- Kraken, like Coinbase, has one of the highest liquidities. Payments are therefore quick and reliable. Krakens' euro reserves are even the highest of all exchanges.
- The trading platform has received multiple awards for its security and has not yet been hacked. Kraken was particularly often attacked by DDoS attacks in 2017, but was able to ward off each of these attacks.
- If you are also interested in other cryptocurrencies or are a bit more advanced, you should definitely choose octopuses instead of Coinbase.
In the next practical tips, we will show you how to make money online with cryptocurrency and make a comparison between Bitcoin and Ethereum.