Coinbase vs Kraken: Which Should You Choose? (2025)

Choosing the right cryptocurrency exchange for trading Bitcoin and tokens is crucial for any aspiring crypto trader. Two leading platforms, Coinbase and Kraken, constantly vie for user loyalty.

This analysis delves deep into the intricacies of Coinbase and Kraken, dissecting fees, features, security, and user experience. You’ll be ready to choose the right crypto exchange for you by the end.

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The stats for Coinbase and Kraken were updated on this page on March 7, 2025.

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Recent news: The SEC has withdrawn its lawsuits against Kraken and Coinbase, ending what many consider a politically charged campaign. This news has led to Kraken announcing a U.S. Strategic Reserve Watchlist ahead of the White House Crypto Summit.

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Source note: All figures and data used in this article were current and accurate at the time of publication.

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Which exchange has more users?

In the head-to-head battle of “Coinbase vs Kraken,” Coinbase appears to boast a significantly larger user base.

Since exact user numbers aren’t available, we used monthly website visits and trade volume to understand user activity.

According to SimilarWeb, Coinbase had over 64 million monthly website visits in the past 30 days, which is around 4.5 times the number of visits Kraken had, which was over 10 million.

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Feature	Coinbase	Kraken
Category rank	3rd	10th
Established	2012	2011
Registered	United States	United States
24-hr trading volume	$5.1B	$1.7B
Most active trading pair	BTC/USD – $1.7B	BTC/USD – $363M
Monthly visits	64M	10M
X (Twitter) followers	6.4M	1.6M

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Conclusion – Coinbase wins

While user numbers are not always publicly available, traffic estimates suggest Coinbase significantly outpaces Kraken.

Looking at traffic visits, Coinbase boasts millions more users than Kraken. This wider user base translates to a more liquid marketplace on Coinbase, potentially offering tighter spreads and faster trade execution.

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Who is better regulated?

Kraken and Coinbase are both highly regulated, but they take different approaches, especially in the U.S. and internationally.

In the U.S., Coinbase holds a slight edge due to its status as a publicly traded company on Nasdaq, which subjects it to strict SEC scrutiny. It is fully registered as a Money Services Business (MSB) with FinCEN and holds multiple state licenses, including New York’s BitLicense.

However, Coinbase has faced regulatory challenges, including a long legal battle with the SEC over crypto classifications, but the SEC dropping the case could benefit the exchange.

Kraken, meanwhile, also operates under U.S. regulations and was the first exchange to receive Wyoming’s Special Purpose Depository Institution (SPDI) charter, allowing it to function as a crypto-friendly bank.

Internationally, Kraken has been more aggressive in securing licenses. It is registered with FinCEN (U.S.), FINTRAC (Canada), the FCA (U.K.), AUSTRAC (Australia), and the FSA (Japan). In 2025, it expanded further, securing a MiFID license in Cyprus for EU derivatives trading and obtaining a crypto broker license in the Netherlands.

Coinbase complies with regulations in every country it operates in but has had to adjust, including delisting USDT in Europe due to MiCA compliance.

If you want an exchange with strong U.S. oversight, Coinbase is the safer bet. But if international regulation matters more, Kraken has been taking bigger steps globally.

While sometimes seen as cumbersome, regulations are essential for a healthy cryptocurrency ecosystem. They protect users from fraud and promote market stability. KYC/AML standards help prevent money laundering and terrorist financing.

Exchange	Coinbase	Kraken
Regulatory Focus	Global compliance, regional licensing	Targeted licenses in established markets
Supported countries	100	190
KYC/AML	Strict adherence	Strict adherence
Staking Regulations	‘Engaging with regulators’	‘Public disagreements with SEC’

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Who offers a better trading platform?

When it comes to trading platforms, Kraken and Coinbase serve different types of users.

Kraken is the better option for experienced traders. As one of the best crypto margin trading platforms – it offers advanced features like futures contracts, detailed charting tools and the recently launched FIX API – which fits in the platforms API solutions and designed for professional and institutional clients to facilitate integration with the derivatives trading engine.

. It also has account management options for high-volume traders, which Coinbase lacks. Kraken’s trading fees are slightly lower, making it more attractive for active traders.

Coinbase, on the other hand, is built for ease of use. Its interface is more intuitive, making it ideal for beginners. It offers features like instant buy/sell options, staking rewards, and seamless fiat deposits. The mobile app is also more user-friendly and frequently updated.

If you’re an advanced trader who values control and lower fees, Kraken is the stronger choice. But if you want a straightforward, beginner-friendly experience, Coinbase is the better pick. It all depends on how deep you want to go into trading.

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Recent Coinbase and Kraken feature updates

Here are the latest platform features and company updates introduced by Coinbase and Kraken:

Coinbase

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Feature/Update	Details
Base Rollup Expansion	Coinbase’s Layer 2 network, Base, updated its 2024 roadmap to focus on decentralization, lower fees (EIP-4844), and smart wallet integration (ERC-4337)
US-regulated crypto options	Introduced in November 2024, offering more risk management tools for institutions
International Growth	Expanded services globally with new fiat onramps and regulatory compliance efforts
Bitcoin ETF custody	Now holds BTC for 8 out of 11 U.S. spot Bitcoin ETFs, solidifying its dominance in crypto custody
Advanced trading features	Launched new analytical tools and APIs aimed at institutional investors
Improved staking options	Expanded staking services with higher yields and flexible withdrawal options

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Kraken

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Feature/Update	Details
Launch of Ink Blockchain	Kraken is launching its own blockchain, Ink, in 2025 for decentralized trading, lending, and borrowing.
Institutional custody service	Introduced Kraken Institutional, a new crypto custody service competing with Coinbase’s ETF dominance.
Futures trading enhancements	Upgraded crypto futures platform with features like FIX API to enhance margin options.
Global expansion	Strengthened compliance to expand legally into more markets.
Proof of Reserves upgrade	Improved transparency with more frequent and detailed asset verification reports.
IPO preparations	Reportedly preparing for an IPO, potentially valuing Kraken at $20 billion.

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Writer’s note: As far as we can tell, Coinbase is strengthening its Layer 2 network and ETF custody, while Kraken is focusing on institutional services and global expansion..

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Who offers more cryptocurrencies?

Kraken and Coinbase’s competition is heating up as they both aim to provide a wider variety of cryptocurrencies.

Here’s a breakdown that will help you determine which exchange provides more benefits.

	Coinbase	Kraken
Spot trading	286 coins	481 coins
Total tradable pairs	429 pairs	1242 pairs
Margin trading	Only available on Coinbase Advanced Trade	Not all coins are supported
Futures	Requires Coinbase Advanced trading account	Available for select cryptocurrencies
Perpetuals	Requires Coinbase Advanced trading account	Over 200 perpetual protocol trading pairs are available

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Currencies breakdown

• Spot trading: Both platforms offer various cryptocurrencies for basic buying and selling. While Coinbase edges out Kraken by a handful in total coins, Kraken boasts a significantly higher number of tradable pairs, offering more options for diversified trading strategies.
• Margin trading: This advanced feature, allowing traders to leverage their holdings, is only available on Kraken for select cryptocurrencies. Note: Coinbase currently only offers margin trading on Coinbase Advanced Trade.
• Futures and perpetuals: Kraken offers futures and perpetual contracts on select coins for those seeking exposure to cryptocurrencies’ price movements without directly owning them. Coinbase, on the other hand, currently lacks these derivative products.

Choosing the right platform

1. Trading style: If you’re a beginner-focused on spot trading, either platform might suffice. However, Coinbase listing options and its user-friendly interface might be more appealing.
2. Advanced features: If you’re an experienced trader seeking margin trading, futures, or perpetual, Kraken emerges as the clear winner.
3. Specific cryptocurrencies: Do your research! If you have your heart set on a specific cryptocurrency, ensure it’s available for trading on your chosen platform (spot, margin, futures, or perpetual, depending on your needs).

Conclusion – Kraken wins

While Coinbase offers a slightly larger selection of spot trading coins, Kraken reigns supreme in overall variety. With margin trading, futures, and perpetual on select cryptocurrencies, Kraken caters to more advanced traders seeking diverse investment opportunities.

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Who offers more deposit methods?

Choosing the right cryptocurrency exchange hinges on various factors, and deposit methods are a crucial consideration.

Here’s a table comparing Kraken and Coinbase deposit methods:

Deposit Method	Kraken	Coinbase
Bank transfers	FedWire, SWIFT, SEPA, ACH	ACH, SEPA, SWIFT
Crypto deposits	Supports a wide range of assets	Supports fewer assets than Kraken
Debit/Credit Cards	Yes (varies by region)	Limited to instant crypto buys
PayPal	No	Yes (limited deposit options)
Apple Pay/Google Pay	Yes (for instant crypto buys)	No

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A breakdown of deposit methods for Coinbase vs Kraken

• Free deposits: Both platforms offer most users free deposits via bank transfers (ACH, SEPA, SWIFT).
• Crypto deposits: Kraken and Coinbase allow free crypto deposits, making it easy to transfer existing holdings.
• Traditional payment methods: Kraken and Coinbase are cryptocurrency exchanges but differ in their options for depositing fiat currency. Kraken allows wire transfers (with fees) but does not support third-party processors like PayPal. On the other hand, Coinbase offers the convenience of instant purchases with debit cards and PayPal, but these options come with high fees.

Conclusion – Kraken

There is no clear winner in the battle between Kraken and Coinbase regarding deposit methods. The decision depends on your preferences.

If you prioritize affordability and a broader range of deposit options, Kraken is the better option, as it offers more choices. However, if you want to make instant purchases using debit cards or PayPal despite higher fees, Coinbase is the way to go.

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Who offers better deposit fees?

Deposit fees are crucial in escalating competition between Kraken and Coinbase. Use this breakdown to determine which exchange provides a more favorable deposit fee deal.

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Feature	Coinbase	Kraken
Bank Transfer	Free (ACH transfers and SEPA transfers)	Free (ACH transfers in USD only)
Wire Transfer	$10 – $25 fee	Varies depending on your bank
Debit/Credit Card	Up to 3.99%	3.75% + $0.25 per transaction

ACH is a U.S. financial network used for electronic fund transfers, while SEPA (Single Euro Payments Area) facilitates the standardization of electronic payments denominated in Euros € across Europe.

Conclusion – Kraken wins

For most users, Kraken emerges victorious in the deposit fee arena. ACH bank transfers in USD are free, making it an attractive option for frequent deposits. While both platforms offer free bank transfers for specific regions (ACH for Kraken, ACH, and SEPA for Coinbase), Kraken avoids fees for standard USD bank transfers.

Wire transfers are a different story. While both incur fees, Kraken’s cost varies depending on your bank, offering a slight advantage.

Kraken’s real winner for budget-conscious users is its debit/credit card deposits. Kraken and Coinbase charge hefty fees, but Kraken’s 3.75% + $0.25 structure might be marginally cheaper than Coinbase’s up-to-3.99% fee.

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“Coinbase vs Kraken” and “Kraken vs Coinbase” are both valid searches for more in-depth comparisons of fees and other features. This analysis only scratches the surface, so keep digging to find the platform that best suits your crypto trading needs.

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Who offers better withdrawal fees?

Choosing the right cryptocurrency exchange hinges on various factors, and withdrawal fees are crucial. Here’s a breakdown of how Coinbase vs. Kraken stack up in this arena:

Fiat withdrawal fees

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Exchange	Currency	Withdrawal fee
Kraken	USD	Free to $35 (bank transfer)
	EUR/GBP/CHF	Free to €35/£35
	CAD	Free to $35 or 35% of amount
	AUD	Free to $55
	JPY	¥15,000 min, $35 equivalent
Coinbase	USD (ACH)	Free
	USD (Wire)	$25
	EUR (SEPA)	€0.15
	GBP (Faster Payments)	£1
	GBP (SWIFT)	£25 (outside UK)

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Crypto withdrawal fees

Here’s a comparison of withdrawal fees for Coinbase and Kraken:

Cryptocurrency	Coinbase Withdrawal Fees	Kraken Withdrawal Fees
Bitcoin (BTC)	Network fee (varies)	0.00001 BTC
Ethereum (ETH)	Network fee (varies)	0.0025 ETH
USDT (Tether)	Network fee (varies)	5 USDT (ERC-20)
USDC (USD Coin)	Network fee (varies)	5 USDC (ERC-20)
XRP (Ripple)	Network fee (varies)	0.02 XRP
Litecoin (LTC)	Network fee (varies)	0.001 LTC

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As of July 30, 2024, transferring cryptocurrencies from Coinbase to Base, its layer 2 chain, does not incur any fees.

Breakdown

• Fixed vs. Spread Fees: Kraken employs a mix of fixed and tiered fees depending on the asset. Coinbase, on the other hand, utilizes a flat fee or a spread fee, which can be less transparent.
• Minimum withdrawals: Both platforms have minimum withdrawal amounts that differ based on the cryptocurrency.
• Bitcoin withdrawals: Kraken boasts a clear, fixed fee for Bitcoin withdrawals (0.0005 BTC), while Coinbase combines network fees with a potential spread, making it harder to predict the final cost.
• Stablecoin withdrawals: Kraken generally has lower withdrawal fees for stablecoins than Bitcoin. Coinbase again uses network fees and a potential spread.
• Fiat withdrawals: Kraken charges a fixed fee ($5-$35) based on the chosen withdrawal method (e.g., wire transfer). Coinbase hits users with a hefty 1% fee on top of the transaction value when converting crypto to fiat (like USD).

Conclusion – Kraken wins

For withdrawal fees, Kraken emerges victorious. Their transparent fee structure with fixed or tiered rates based on the asset makes cost calculation easier. Their lower fees for Bitcoin and stablecoin withdrawals and no hidden fees on fiat conversions make them the more cost-effective option in this category.

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Coinbase vs Kraken fees

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Which exchange is more appealing to institutional traders?

While Kraken and Coinbase are titans in the cryptocurrency exchange arena, institutional traders seeking a robust platform will find distinct advantages in each.

Coinbase, a publicly traded company with a user-friendly interface, boasts a well-established institutional arm – Coinbase Prime.

Coinbase Prime offers dedicated account management, advanced custody solutions (Coinbase Custody) for secure asset storage, and over-the-counter (OTC) trading for executing large block trades with minimal market impact.

This focus on user experience and security makes Coinbase Prime a compelling option for institutions venturing cautiously into crypto.

However, Kraken might be the more appealing choice for battle-tested institutions seeking a platform with advanced features.

Kraken has launched Kraken Custody, a specialized custody service for institutional investors. This puts Kraken in direct competition with Coinbase, which has already captured the institutional market for spot bitcoin ETFs. Kraken Custody provides a secure way to store, manage, and transfer digital assets, all through a single interface.

Meanwhile, their OTC desk, Kraken OTC, caters to large order execution with minimal slippage, while their robust API integration allows for seamless trade automation and portfolio management.

Additionally, Kraken emphasizes deep liquidity, a crucial factor for institutional trades, through its diverse client base and emphasis on spot and stablecoin markets.

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Conclusion – Coinbase wins

Coinbase Prime excels with its secure custody solutions and user-friendly platform, which is ideal for institutions taking their first steps into crypto. Conversely, with its advanced features, deep liquidity, and OTC desk, Kraken caters more to experienced institutions seeking a powerful trading platform.

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Users’ opinions on the Coinbase vs Kraken debate

To properly compare Coinbase and Kraken, we analyzed user reviews from Trustpilot, Apple, and Google app stores to better understand how everyday users feel about each exchange and what they like and dislike about each platform.

Based on user reviews from all 3 platforms, Coinbase scored an average of 3.6/5, while Kraken scored 3.46/5. Note: Coinbase generally has a higher average rating across all platforms, especially when considering the much larger number of reviews.

Trustpilot also tends to attract more negative reviews than other platforms. So, the lower rating for Kraken on Trustpilot might not be entirely representative.

_{User reviews of Kraken are from Trustpilot. Image source: ValueWalk
User reviews of Coinbase are from Trustpilot. Image source: ValueWalk}

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Trustpilot reviews – Coinbase

Coinbase offers a user-friendly platform for buying and selling crypto, especially for beginners. However, some users report issues with customer service being unresponsive or unhelpful when problems arise, particularly regarding account access and lost funds.

Additionally, there have been concerns about limited functionality compared to other exchanges. While some users have had positive experiences, others report frustrations that could be dealbreakers for some crypto investors.

Trustpilot reviews – Kraken

Crypto users give Kraken mixed reviews. While some praise its user-friendly interface, reasonable fees, and trustworthy feel, others report frustrating customer service experiences and account closure issues.

Pro users often report better experiences, with some praising the platform’s responsiveness and professionalism. Security concerns a few users, with reports of suspicious activity and account closures without clear explanation.

Google Play Store reviews – Coinbase

Coinbase is praised for its user-friendly interface and educational resources, making it attractive to beginners. However, several users criticize recurring issues like slow app performance, limited payment options, and a lack of fee transparency.

While some find the fees acceptable, others feel the platform inflates prices and has hidden costs. The trading experience seems to be more positive for advanced users who appreciate the extensive options. Overall, Coinbase offers a user-friendly platform but may not be the most transparent or cost-effective option for all users.

Google Play Store reviews – Kraken

Kraken receives mixed reviews from its users on the Google app. While some appreciate its user-friendly layout (especially for beginners) and reliable customer service, others criticize its lack of advanced features, like easy portfolio tracking and direct wallet transfers via the app.

ACH deposits appear to be a point of contention, with some users experiencing repeated errors. Overall, Kraken seems like a decent option for beginners who prioritize a simple interface and responsive support but it may not be ideal for those seeking a robust feature set for advanced crypto trading.

Apple app store reviews – Coinbase

Coinbase is praised for its user-friendly interface and ease of deposits, withdrawals, and trading, with some users even finding it suitable for beginners. However, concerns have been raised about its high transaction fees and lack of transparency regarding these fees.

Additionally, some users feel uncomfortable with Coinbase holding the private keys to their crypto, and others have had difficulty recovering funds lost to fraud.

Apple app store reviews – Kraken

Kraken receives mixed reviews on the App Store. Users praise the app’s uptime, smooth interface, and easy deposits/withdrawals. Customer service is generally considered helpful, although some report slow response times.

However, a small number of users have experienced technical issues and frustrating customer interactions. Overall, Kraken seems like a solid option with some room for improvement.

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Coinbase vs Kraken: Final verdict

In the “Coinbase vs Kraken” debate, the winner depends on your experience level and priorities.

1. Coinbase offers a user-friendly platform, a larger coin selection for spot trading, and instant debit card purchases – ideal for beginners seeking a smooth entry into crypto. However, their fees can be high, and regulatory hurdles may limit their global reach.
2. Kraken excels for experienced traders with lower fees, trading bots, margin trading options, and a wider variety of cryptocurrencies. It prioritizes global compliance and caters well to institutions seeking deep liquidity and advanced features.

Ultimately, the “Coinbase vs Kraken” victor is you—choose the platform that best suits your trading needs and experience level.

Our opinion: Kraken wins narrowly

While both Coinbase and Kraken are solid options, Kraken emerges as the stronger choice for many users. Here’s why:

• Security: Both platforms have had their fair share of legal issues. Still, Kraken boasts a spotless security record, unlike its competitors. This, coupled with their leadership by industry veterans, inspires confidence.
• Competitive Fees: Especially with Kraken Pro, their fees are some of the lowest. Plus, you can avoid conversion fees by directly depositing Swiss Francs (CHF).
• Transparency: Kraken prioritizes transparency, allowing users greater control over their crypto.

Coinbase offers a user-friendly platform, but Kraken’s well-rounded features, security, and focus on low fees make it a compelling choice for most investors. However, be sure to research both platforms’ SEC issues before deciding.

Find more information on the exchange in our Kraken review.

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Our methodology: The analysis of Coinbase and Kraken that informed the development of this article

To deliver an unbiased and informative comparison of Coinbase and Kraken, we leveraged a variety of sources:

– Reputable cryptocurrency aggregator sites provided in-depth data on fees, supported currencies, and trading features.
– User review platforms offered valuable insights into user experience and customer satisfaction.
– Recent publications, news articles, and industry reports kept us updated on the latest developments and trends in the cryptocurrency exchange landscape.

This multi-faceted approach ensured we considered factors important to both beginner and experienced users, including:

1. Fees (maker-taker structure, deposit/withdrawal costs)
2. Security protocols (storage practices, authentication methods)
3. Trading features (e.g., basic vs. advanced order types)
4. Supported currencies (the variety of coins and tokens available on the exchange)
5. User experience (ease of use, mobile app functionality)

By examining these aspects through a diverse lens, we aim to provide a comprehensive and unbiased assessment to help you choose the right cryptocurrency exchange platform for your needs.

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If you enjoyed this then you might also enjoy some of our comparison articles; such as Crypto.com and Coinbase, Coinspot vs Binance, Crypto.com vs Coinbase, Robinhood vs Coinbase, KuCoin vs Binance

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Coinbase vs Kraken: FAQs