The following is a comparison between the KuCoin vs Kraken exchanges. We will compare aspects such as live chat customer service, withdrawal options for fiat currencies (i.e., dollars), and trading fees including margins on both crypto coins AND futures markets that allow you to trade them without having your own funding source available at all times.
KuCoin vs Kraken: Foundation Date
KuCoin was founded in September of 2017, while Kraken was founded way back in July of 2011. KuCoin is a much newer exchange than Kraken, but that doesn’t mean it’s not as good.
KuCoin vs Kraken: Customer Service
One area where KuCoin shines is its customer service. If you have any issues with KuCoin, you can easily reach out to their 24/7 live chat customer service team and get help. Kraken does not have a live chat option, and its customer service has been known to be very slow in the past.
KuCoin vs Kraken: Withdrawal Options
When it comes to withdrawing your fiat currency from KuCoin, you have a few options. You can withdraw via bank transfer, credit/debit card, or even PayPal. Kraken only offers bank transfers and wire transfers for fiat withdrawals.
KuCoin vs Kraken: Security
KuCoin takes security very seriously and has implemented a number of measures to keep user funds safe. Some of these include 2-factor authentication, KuCoin Security Reserve, and KuCoin Shares (KCS) holders who get special treatment in the event of a hack. Kraken also takes security seriously and has implemented similar measures such as 2-factor authentication and a strict verification process.
KuCoin vs Kraken: Trading Fees
KuCoin’s trading fees are very reasonable, especially if you pay with KuCoin’s own token (KCS). For example, if you trade BTC/USDT pair, the fee would be 0.1% if you pay with KCS, and 0.1% + 0.015% if you pay with BTC. The fees on Kraken are a bit higher, at 0.26% for maker trades and 0.16% for taker trades.
KuCoin vs Kraken: Margin Trading
KuCoin offers margin trading on a variety of cryptocurrencies, with up to 10x leverage. Kraken also offers margin trading, but only on select coins and with up to 5x leverage.
KuCoin vs Kraken: Which Exchange Is Better?
KuCoin and Kraken are both great exchanges with their own unique advantages. KuCoin is better for those who want excellent customer service and a large variety of withdrawal options, while Kraken is better for those who want lower fees and margin trading on a wider range of coins. It really depends on your own needs as to which exchange is better for you.
