Kraken debate, Kraken wins here, big time.īinance has been banned in certain countries for poor security measures or for operating in that country without a proper license. Their interface models and complicated trading options may scare new crypto traders away. Regarding ease of use, Kraken and Binance are not rated very high. For Beginnersīoth Binance and Kraken offer an education section where anyone interested can read blogs-style posts about crypto and blockchain topics.īinance rewards users with actual cryptocurrency for completing courses on various topics including basic crypto knowledge, trading on Binance, and more. Kraken and Binance both offer a similar, yet distinct sliding scale fee structure for trades, but Binance charges double (0.50%) compared to Kraken’s max cost to buy and sell crypto (0.26%). Kraken vs Binance: Compare and Contrast Fees

Binance has received some heat from various countries recently including an investigation regarding money laundering in the U.S. Others reviews complain that customer service is ineffective, and some claim the exchange is poorly managed because accounts have been frozen making withdrawing funds impossible. That said, the customer service experience of members at Binance is a mixed bag with some reviews hailing the excellent service and simple user interface of Binance. Safe to say, it doesn’t have a five-star reputation.Ĭustomer service at Binance is available over three channels: submit a ticket through email, reach out via Twitter, or ask basic questions via chat. However, regulatory issues have come up and investigations are happening in several countries, while other countries have banned Binance altogether. It has two-factor authentication via SMS messaging, address whitelisting, and device restriction. The security features on Binance are average across crypto exchanges. Paying with your debit card costs you 4.5%, trade fees range from 0% to 0.1%, and buying and selling crypto is charged a flat 0.5%. You can also receive fee discounts by using Binance (BNB) coins in your trades, making referrals, and achieving VIP status when you trade enough assets.īinance charges no fee for ACH transfers or wire transfers, unless you’re in the U.S., then wire transfers cost you $15 each. Using Binance, you are rewarded for making large volume trades. The fee structure at Binance is based on trading volume and among the lowest in the industry. Binance also offers several order types like stop order, trailing stop order, and stop-market order. The real-time charting tools, moving and exponential moving averages are great features for those with the experience to divine their significance.

Trading on Binance can be done on the Binance website, desktop app, or mobile app which is highly convenient, but the platform is geared more for advanced Bitcoin traders than rookies.

Unfortunately, Binance does not offer an in-app wallet. including Dogecoin (DOGE), VeChain (VET), Harmony (ONE), Etherium (ETH), and Bitcoin (BTC) to name a few. Originally founded in China in 2017, Binance offers over 350 cryptocurrencies on its exchange, but only 65 are available in the U.S. Binance is the largest cryptocurrency exchange in the world with platforms available in many countries including the U.S.A.

Binance vs kraken