Cryptocurrency trading has become more popular in recent years and there are now many platforms available to buy, sell, and exchange digital currencies.
In this post, we’ll compare two popular platforms: Crypto.com and Kraken.
Both platforms offer tools and services for cryptocurrency traders, but how do they compare? We’ll look at the pros and cons of each exchange to help you decide which one is best for you
Crypto.com vs Kraken: Market Stats
| Kraken | Crypto.com | |
|---|---|---|
| Score | 7.8 | 7.5 |
| Trading volume (24H) | $571,324,701 | $254,851,106 |
| Avg. Liquidity | 759 | 600 |
| Weekly visits | 978,767 | 1,038,226 |
| # markets | 718 | 529 |
| # coins supported | 219 | 226 |
| Fiat supported | USD, EUR, GBP and +4 more | GBP, ARS, AUD, EUR, BRL, CAD, USD, TRY |
Crypto.com Overview
Crypto.com
Crypto.com is a digital asset exchange that allows users to buy, sell, and trade a variety of cryptocurrencies. Users can buy and sell cryptocurrencies using bank transfers, credit and debit cards, and mobile payments.
Pros
A wide range of cryptocurrencies
Low fees
high security
User-friendly interface
Cons
Limited payment methods
Limited geographical availability
Centralized & Risk of hacking
Crypto.com, in addition to its exchange services, provides a variety of additional financial goods and services.
These include a cryptocurrency debit card that allows users to spend their digital assets at Visa-accepting shops, as well as a variety of investing and lending options.
The Crypto.com exchange is governed by the Financial Services Authority of St. Vincent and the Grenadines, and it employs a variety of security procedures to safeguard user accounts and assets.
Cold storage of assets, two-factor authentication, and frequent audits of the platform’s security mechanisms are among these safeguards.
Key Features of Crypto.com
- Wide range of cryptocurrencies: Crypto.com offers trading in a variety of popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.
- Low fees: The exchange charges relatively low fees for trades, with discounts available for users who hold the platform’s native token, CRO.
- Advanced trading tools: Crypto.com offers a range of advanced trading tools, including margin trading, futures trading, and options trading, for experienced traders.
- Mobile app: The exchange has a mobile app available for both Android and iOS devices, allowing users to trade on the go.
- Security: Crypto.com takes security seriously and employs measures such as two-factor authentication and cold storage to protect user funds.
- Customer support: The exchange has a customer support team available to assist users with any questions or issues they may have.
- Earning rewards: Crypto.com offers users the ability to earn rewards by holding certain cryptocurrencies in their accounts or by using the exchange’s debit card for purchases.
- Staking: Crypto.com allows users to earn rewards by “staking” certain cryptocurrencies, which involves holding them in their account and participating in the network’s consensus process.
- Referral program: Crypto.com has a referral program that allows users to earn rewards by inviting their friends to join the platform.
Kraken Overview
Kraken
Kraken is a well-established cryptocurrency exchange that has been in operation since 2011. It offers a wide range of cryptocurrencies for trade, including Bitcoin, Ethereum, Litecoin, and many others. The exchange is known for its strong security measures.
Pros
Security
Low fees
Wide range of assets
Advanced trading features
Cons
Complex interface
Centralized
occasional down time
Kraken is a well-respected and secure digital asset exchange that offers a wide range of assets and advanced trading features.
Kraken was founded in 2011. It is based in San Francisco, California, and is one of the oldest exchanges in the industry.
Key Features of Kraken Exchange
- Wide range of cryptocurrencies: Kraken supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others.
- Multiple fiat currencies: Kraken allows users to trade cryptocurrencies for a variety of fiat currencies, including US dollars, euros, and Japanese yen.
- Advanced trading platform: Kraken offers an advanced trading platform with features such as margin trading, futures trading, and options trading.
- High liquidity: Kraken has high liquidity, meaning that there is always a large supply of cryptocurrencies available to trade.
- Strong security: Kraken takes security seriously and has implemented measures such as cold storage, two-factor authentication, and PGP encryption to protect user accounts and assets.
- Excellent customer support: Kraken has a reputation for providing excellent customer support, with a dedicated support team available to help users with any issues or questions they may have.
- Low fees: Kraken charges relatively low fees for its services, making it an attractive option for traders who are looking to minimize costs.
Crypto.com vs. Kraken: The Ultimate Comparison
Crypto.com vs. Kraken: Trading Tools
Crypto.com and Kraken are both popular cryptocurrency exchanges that offer advanced trading tools for experienced traders. Here is a comparison of some of the advanced trading features offered by each exchange:
Crypto.com
- Margin trading: Crypto.com offers up to 5x leverage on selected trading pairs.
- Order types: Crypto.com offers a range of order types, including market orders, limit orders, stop orders, and iceberg orders.
- Trading view: Crypto.com provides a customizable trading view with real-time market data and charting tools.
- Future trading: Crypto.com offers futures trading on selected cryptocurrencies, with up to 50x leverage.
- Leveraged tokens: Crypto.com offers a range of leveraged tokens, which are ERC-20 tokens that track the price of an underlying asset (such as Bitcoin or Ethereum) and provide leveraged exposure to the asset’s price movements.
Kraken
- Margin trading: Kraken offers up to 50x leverage on selected trading pairs.
- Order types: Kraken offers market orders, limit orders, stop orders, and conditional orders (including take-profit and stop-loss orders).
- Trading view: Kraken provides a customizable trading view with real-time market data and charting tools.
- Future trading: Kraken also offers futures trading.
- Leveraged tokens: Kraken does not currently offer leveraged tokens.
Crypto.com vs. Kraken: Trading Fees
Crypto.com: Exchange charges a trading fee of 0.10% for both makers and takers. There are no fees for depositing or withdrawing cryptocurrencies. For fiat deposits and withdrawals, fees depend on the currency and method used.
Kraken: Platform charges different fees for makers and takers, with lower fees for makers who add liquidity to the order book. The trading fees for takers start at 0.16% and go down to as low as 0.00% for users with high trading volumes.
The trading fees for makers start at 0.26% and go down to as low as 0.00% for users with high trading volumes. There are no fees for depositing cryptocurrencies, but there may be fees for withdrawing certain cryptocurrencies.
For fiat deposits and withdrawals, fees depend on the currency and method used.
Crypto.com vs. Kraken: NFT Marketplaces
Crypto.com: It has a dedicated NFT marketplace called “The Sandbox” which allows users to buy, sell, and trade NFTs. The platform offers a wide range of NFTs including art, music, gaming, and collectibles.
Crypto.com offers a secure and user-friendly interface for NFT transactions, as well as a wide range of payment options including debit/credit card, bank transfer, and various cryptocurrencies.
It also offers a “Minting” feature which allows users to create their own NFTs and sell them on the marketplace.
Kraken: It does not currently have a dedicated NFT marketplace, but they do offer the ability to trade NFTs through their standard exchange platform. Kraken offers a limited selection of NFTs, primarily focused on art and collectibles.
Crypto.com vs. Kraken: Supported digital Assets
Crypto.com: Platform currently supports more than 226+ different cryptocurrencies, including popular options such as Bitcoin, Ethereum, Litecoin, and many more. In addition to these, Crypto.com also offers a range of other services, such as a cryptocurrency debit card and a range of trading tools and resources.
Kraken: Kraken, on the other hand, supports more than 226 different cryptocurrencies, including Bitcoin, Solana, and dogecoin, as well as many others. In addition to traditional cryptocurrency trading, Kraken also offers margin trading, futures trading, and other advanced trading options.
Crypto.com vs. Kraken: Supported Fiat Currencies
Kraken supports a wide range of fiat currencies, including the US dollar (USD), the euro (EUR), the British pound (GBP), the Japanese yen (JPY), the Canadian dollar (CAD), and many more.
Crypto.com supports a more limited range of fiat currencies, including the US dollar (USD), the euro (EUR), and the Singapore dollar (SGD), as well as many others.
Crypto.com vs. Kraken: Deposit Methods
Kraken supports Bank transfer, Apple Pay, Google Pay, SWIFT, Visa and Mastercard debit/credit card, ACH online banking, and Digital Wallet purchases.
Crypto.com supports Bank transfer, Cryptocurrency, PayPal, Wire transfer, SWIFT, and Debit/credit cards.
Crypto.com vs. Kraken: Security
Kraken has implemented a number of security measures to protect its platform and its users’ assets. These include:
- Two-factor authentication (2FA) for account login and certain account actions
- Encrypted storage of user data and assets
- Regular security audits and penetration testing
- Compliance with industry-standard security protocols, such as the Payment Card Industry Data Security Standard (PCI DSS)
Crypto.com offers a range of security features to protect its users and their assets.
Some of the security features offered by Crypto.com include:
- Two-factor authentication (2FA): This requires users to provide an additional layer of authentication when logging in to their account or making a transaction. This can be done using a one-time code sent to the user’s email or mobile phone, or through a 2FA app such as Google Authenticator.
- Encrypted storage: Exchange stores user assets in encrypted cold storage, which means that they are kept offline in a secure location and are not accessible via the internet.
- SSL encryption: Crypto.com uses Secure Sockets Layer (SSL) encryption to protect user data and transactions. SSL is a standard security technology that establishes an encrypted link between a server and a client, such as a web browser.
- Fraud detection: Crypto.com has advanced fraud detection systems in place to identify and prevent fraudulent activity.
- Secure access controls: Crypto.com has strict access controls in place to ensure that only authorized personnel have access to user data and assets.
Crypto.com vs. Kraken: Which is better (Winner)?
| Feature | crypto.com | Kraken |
|---|---|---|
| Launched date | 2016 | 2011 |
| Founders | Kris Marszalek | Jesse Powell |
| Security | PCI DSS compliant | SOC 2 Type 2 compliant |
| No. of supported cryptocurrencies | Over 230 | Over 200 |
| Fees and costs | Maker: 0.00% – 0.20% Taker: 0.00% – 0.26% | Maker: 0% Taker: 0.04-0.06% |
| Deposit methods | Bank transfer, credit/debit card, cryptocurrency | Bank transfer, cryptocurrency |
| Ease of use | User-friendly interface with a mobile app available | User-friendly interface with a mobile app available |
| NFT Platforms | Yes | No |
| Non-custodial wallets | Yes | No |
How to buy crypto using crypto.com CEX?
- Sign up for an account on crypto.com CEX. You will need to provide some personal information and complete the registration process.
- Verify your identity. In order to comply with regulatory requirements, crypto.com CEX may require you to verify your identity before you can buy crypto. This may involve uploading a government-issued ID or other documentation.
- Fund your account. Once your account is set up and verified, you will need to add funds to your account in order to buy crypto. You can do this by depositing fiat currency (such as USD or EUR) or by transferring crypto from another wallet.
- Select the crypto you want to buy. Browse the list of available crypto on crypto.com CEX and select the one you want to purchase.
- Place your order. Enter the amount of crypto you want to buy and review the details of your order, including the price and any fees. Once you’re satisfied with the details, place your order.
- Wait for your order to be filled. Your order will be processed and the crypto will be credited to your account once it is filled. This may take a few minutes to several hours, depending on market conditions and the specific crypto you are buying.
How to buy crypto using Kraken CEX?
- Create an account on Kraken.com: You will need to provide your email address and create a password.
- Verify your account: In order to buy crypto on Kraken, you will need to verify your account. This process typically involves uploading a government-issued ID and proof of residence.
- Fund your account: You can fund your Kraken account using a bank transfer, wire transfer, or by depositing crypto from another wallet.
- Buy crypto: Once your account is funded and verified, you can buy crypto by going to the “Trade” tab and selecting the crypto you want to buy. You can either place a market order, which will be filled at the current market price, or a limit order, which will only be filled at a specific price or better.
- Withdraw your crypto: Once you have purchased crypto on Kraken, you can withdraw it to your personal wallet by going to the “Withdraw” tab and following the prompts.
Conclusion
In conclusion, both Crypto.com and Kraken are popular and reputable options for crypto traders. While each platform has its own unique features and benefits, the choice ultimately comes down to the specific needs and preferences of the individual user.
If you’re looking for a platform with a wide range of crypto assets, a user-friendly interface, and competitive fees, Crypto.com may be the way to go.
On the other hand, if security and regulatory compliance are your top priorities, Kraken could be the better choice.
Ultimately, it’s important to carefully consider your own needs and do your own research before making a decision on which platform to use.
Related FAQs
what is a Centralised crypto Exchange?
A centralized cryptocurrency exchange is a digital platform that allows users to buy and sell cryptocurrencies using fiat currencies or other cryptocurrencies. These exchanges act as intermediaries between buyers and sellers, facilitating the exchange of cryptocurrencies for a fee.
Centralized exchanges are typically owned and operated by a company, and they hold the users’ funds in a central location, such as a bank account or a wallet. This means that the exchange has complete control over the funds and the transactions that take place on the platform.
How secure is each exchange in terms of protecting user funds and personal information?
Both Crypto.com and Kraken have implemented security measures to protect user funds and personal information. This can include the use of cold storage for cryptocurrencies, two-factor authentication, and encrypted communications. However, as with any online platform, it’s important to be cautious and take steps to secure your own account, such as using strong passwords and enabling additional security measures.
Does either exchange offer customer support and, if so, what channels are available (e.g. email, phone, live chat)?
Both Crypto.com and Kraken offer customer support through various channels. These can include email, phone, and live chat. It’s worth noting that the availability and response times for customer support may vary between the two exchanges.
Does either exchange have any additional features or services (e.g. staking, lending, payment processing)?
In addition to trading, Crypto.com offers several other services and features, including staking, lending, and payment processing. Kraken also offers some additional services, such as futures trading and over-the-counter (OTC) trading for larger volume trades. It’s worth noting that the availability and terms of these additional services may vary between the two exchanges.
