Welcome as we see a side by side comparisons of 3 of the best 5 best trading sites for cryptocurrency.
When we considered the 5 of the Best Cryptocurrency Trading Platforms for Beginners some time ago it was all about the benefits, features, and some infrastructures they had and had not.
Today we want to consider the found & missing pieces in all of them. So, it is a comparison of the best crypto trading platform lowest fees; Binance vs Coinbase Pro vs Kraken.
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Just as we know, there are a lot of buzz about crypto trading. In Nigeria, based on the hardship in the country, graduates after their time studying in the university or college either go into blogging, trading cryptocurrencies or Digital business which is why lots of youths are surviving.
In fact, on Binance crypto exchange alone, Nigerians trade over 5 billion Naira every 24 hours on BTC alone, not to talk of other altcoins.
As seen above, the BTC daily trading volume stood at 5,572,588,386.72 NGN. This fit goes to show the evolution of crypto and blockchain tech in Nigeria and Africa as a whole.
Coming back to the international scene, there were around 41,800 people that invested at least $100 in cryptocurrencies.
The Market Cap of all cryptocurrencies around September 2018 was $209.2 Billion. In 2017, over 914 new cryptocurrencies hit the market.
This caused Bitcoin’s market share to be reduced by 38.6% – Saasscout.com
Also, as of May 2020, the cryptocurrency market cap was $265.545 billion. And currently, the market cap volume of Bitcoin alone has reached $459,911,845,792.
The above do not just show the growth of crypto but the number of people in crypto depending on it for daily living or for other reasons.
With all the above said, let’s now go on to see the crypto websites comparison and how they tangle for traders.
Best Binance vs Coinbase Pro vs Kraken Comparison on 11+ Points
With a full review of each of them some time ago, let’s go on to see the most trusted bitcoin investment sites in terms of facilities, fees, customer care for customers, and more.
1. Binance, Coinbase Pro, and Kraken, what are they?
Binance, Coinbase Pro, and Kraken are all cryptocurrency websites where users transact.
On the websites, users have the option to buy crypto and hold in their respective wallets, lend, and ultimately trade against other crypto assets and make money.
2. Binance vs Coinbase Pro vs Kraken Interfaces, Beginner friendly + User Experience
Going over and comparing Binance, Kraken, and Coinbase Pro homepages, you will discover that Binance has the best crypto exchange depiction with an instant purchase gateway, list of the top crypto asset plus their trading volume, access to mobile apps links, and overall answers in case a beginner requires fast answers.
On Coinbase Pro, you have a straight to the point crypto trading platform with a generic chart to show you what they are about, access to mobile apps, and a list of top assets.
In terms of UX and beginner-friendly, Coinbase Pro will take the last seat on the bus when you compare it to Kraken and Binance.
On Kraken, while it has the best UX design, it lacks that top-notch depiction of a core crypto trading platform with crypto assets display although they talk more of what they do as a crypto heavyweight.
💡 True Crypto website interfaces, beginner-friendly + user experience winner: Binance, then Coinbase Pro.
3. Binance vs Coinbase Pro vs Kraken Sign up & Registration
With your email address and a password, you will be able to register on each of the crypto trading websites.
💡 For Binance, click here to create an account.
💡 For Kraken, click here to get started today.
💡 And for Coinbase, first register here on Coinbase.com, when done, go to Coinbase Pro and start trading.
4. Binance vs Coinbase Pro vs Kraken cryptocurrency trading platform
Going over to their crypto trading interfaces, you will discover that the Binance crypto trading platform provides room for both beginners and advanced users with adequate trading facilities such as a native chart or making use of the inbuilt Trading view chart app.
Going over to Kraken, they have core facilities as well but depicting Bitcoin as XBT can be a turn off for beginners.
Apart from this, they have trading facilities that could compete with Binance but unfortunately, Binance has way more room for beginners and a lot of crypto assets.
Coinbase Pro offers a less cluttered trading platform with trading facilities as well to help make decisions. However, in terms of being intuitive you just have to give it to her competitions; Binance first and then Kraken.
Talking about being decluttered, Kraken, and Coinbase are more decluttered as compared to Binance.
Well, Binance has more facilities than both of them hence the clutter of options on the dashboard.
💡 Core & complete Cryptocurrency trading platform winner: Binance, then Kraken.
5. Binance vs Coinbase Pro vs Kraken list of cryptocurrencies to trade
The list of Cryptocurrencies available for trading on Coinbase Pro is 46 while on Kraken is 51 and on Binance is 400+.
💡 With the above, we conclude that Binance crypto trading exchange is the winner here.
6. Binance vs Coinbase Pro vs Kraken Deposit, Withdrawal and Trading fees
All of the 3 exchanges have different deposit fees based on the gateway options.
For instance, while Kraken charges zero fees for purchase with account balance, Coinbase pro charge zero fees for Automated Clearing House deposits, and Binance charge zero fees on fiat and other payment options.
In terms of crypto trading, the Binance Taker fee is 0.10% while the Maker fee is 0.10%.
On Withdrawal fees, it is free on Coinbase Pro if you use Automated Clearing House, free on Binance if you use Bank Transfer (SEPA). And on Kraken, the least you can get is 0.09 EU.
💡 Binance vs Coinbase Pro vs Kraken Deposit trading fees winner: Binance, plus lesser fees when you hold up to 500 BNB coin.
7. Binance vs Coinbase Pro vs Kraken Deposit and Withdrawal methods
Binance offers the most preferred options to deposit and withdraw your funds. With Binance you have 6 methods of deposits, on Coinbase Pro you have 4, and lastly, on Kraken, you have 3.
💡 Therefore the winner is Binance.
8. Binance vs Coinbase Pro vs Kraken Country list or Allowed
Binance is open to international usage except for some countries such as the USA, Iran, Belarus, Serbia, Bosnia, Myanmar and other countries with limited financial jurisdictions.
Talking of the USA, the US users still come to Binance.com to trade, with some using VPN. 😎
On Kraken, it is also opened to international users’ exception of regions such as Afghanistan, Congo-Brazzaville, Congo-Kinshasa, Cuba, Iran, Iraq, Libya, North Korea, Syria, and Tajikistan.
And on Coinbase Pro, too many countries are not allowed to trade. Ultimately, Coinbase Pro is for the USA citizens and her sisters’ states in Europe.
💡 For countries allowed to trade, Binance and Kraken have the day.
9. Binance vs Coinbase Pro vs Kraken trading volume per 24 hours [Daily Volume (24h)]
Binance has the highest trading Volume (24h) standing at $8,315,603,903, followed by Coinbase Pro at $1,513,976,318, and lastly by Kraken with $741,422,219. (As of the last time of checking).
💡 Hence, Binance has the biggest trading volume per 24 hours.
10. Binance vs Coinbase Pro vs Kraken Customer support.
While Coinbase Pro does not offer instant customer support link except on Coinbase, both Binance and Kraken offer instant customer support buttons in case you run into any challenge.
💡 On Binance and Kraken, you will see the support button on your bottom right of your trading section. #Lovely.
11. Binance vs Coinbase Pro vs Kraken security
All three exchanges are robust when it comes to security. All of them have cold wallets to safeguard customers’ digital assets.
Plus, all of the exchanges offer device IP authentication, email, SMS, 2Fa authentication, and hardware security integrations.
Taking about hardware security integration, you can lock your account using a hardware device known as Yubikey. So, they are all optimized for security.
Nonetheless, I think one thing Kraken stands out here is their Enable Global Settings Lock.
However, Kraken is not a place to store your cryptocurrencies because they won’t be held responsible in case of attack.
In this case, it is recommended you transfer your funds after successful trading sessions to a better wallet.
12. Binance vs Coinbase Pro vs Kraken Infrastructures & Innovations
Apart from the trading charts infrastructure you have on all the 3 exchanges, Binance stands out as the most innovative crypto exchange with functions such as staking, lending, coin swap, derivative trading, new additional of relevant crypto assets, and earning and opportunities for users.
As of the time of writing, Binance will charge you NOTHING when you fund your account using credit card, buying from Binance, fiat deposit with SEPA, and more.
After Binance you have Kraken with its version of personality.
On Kraken you can trade features, stake, go pro, and a bunch of innovations you will see on their trading website.
As of the time of writing, Kraken added a new asset for users to trade with called GRT.
By the way, GRT is an Ethereum (ERC-20) token that powers The Graph, which is a decentralized protocol for searching and indexing the data on various Blockchains.
Kraken believes that GRT will play a role for Blockchains that is similar to the role played for websites by Google Search (which searches and indexes websites).
Coming back to Coinbase Pro, the Coinbase main broker website has some innovations such as the ability to learn about crypto and earn, vault integration, the addition of new assets, and more.
And on Coinbase Pro, apart from low trading fees, the addition of assets when they decide to and the trading facilities which is common on all trading platform there is nothing much to expect in terms of innovations, “yet”.
13. Binance vs Coinbase Pro vs Kraken Conclusion
For international users. Binance presents the most complete crypto trading exchange platform in almost everything starting from the lower or zero fees, list of crypto assets and pairs, customer support, and more.
As an international user, I recommend Binance first, seconded by Kraken since Coinbase Pro is not available for all users in some countries.
For USA and environs. If you are from the USA, even though most users prefer Binance which is recommended if you want, in case you don’t want to use Binance then go for Coinbase Pro or Kraken.
Or better still, combining them is great since they both have relatively low trading fees and interfaces.
But as you will know, Kraken is more intuitive to Coinbase Pro, instant support chat support plus the fact that Kraken accepts international users than Coinbase pro.
All in all, for international users, Binance is best recommended with all-round benefits in terms of trading infrastructures.
For the USA and environs, Binance + Kraken or Binance + Coinbase Pro.
💡 Try Binance,
💡 Try Kraken,
💡 Try Coinbase Pro, (register on Coinbase then click to go to Coinbase pro).
FAQ about the top cryptocurrency trading platforms for users comparing Binance, Kraken, and Coinbase Pro
Q. What is the best cryptocurrency trading platform with the lowest fees?
A. Binance, but unique. While all of the exchanges allow zero fees at some points, nevertheless, when you consider Maker & Trader fees, Binance trumps the other two, followed by Kraken.
Q. What cryptocurrency trading platform is best for beginners?
A. Binance. Since its inception, Binance made room for both beginners and advanced users to make use of the platform. This can’t be said about Kraken and Coinbase pro which a beginner will have to take some time to master the trading interfaces.
Q. What is the best Crypto trading platform?
A. All are unique to each trader. To be frank, all the crypto trading platforms are unique in their own way which is why they all have millions of users.
Nevertheless, one can’t ignore the fact that Binance is super innovative with instant chat support and more than enough cryptocurrency assets/pairs to trade with, just as Kraken, but with a few.
Over to you.
Have you decided yet on the crypto exchange trading platform to use? If yes, let’s know below.
That’s it about the Binance vs Coinbase Pro vs Kraken total review.