Crypto exchanges Binance vs Kraken: Where would you like to trade? - YouTube

TOPIC: Crypto exchanges Binance vs  Kraken: Where would you like to trade?

The global crypto market has been fast evolving  with technological innovation and investment.

As the industry continues to expand, new crypto  coins are entering the market at a rapid pace.  

Similarly, crypto exchanges are upgrading  their platforms to keep up with the demand.

New opportunities and high returns are drawing  more investors to the industry. The year 2021 has  

been significant as it saw the market touching  US$2 trillion in August for the first time.

Crypto exchanges Binance and  Kraken also have been in investors'  

limelight. Here we discuss the two exchanges to  understand their unique features and services.

Kraken

Kraken is a US-based global  cryptocurrency exchange founded in 2011.  

It offers crypto trading, staking, and services  to individual customers and institutions globally.

The firm offers three major platforms for trading:

Kraken mobile app

Kraken Pro mobile app

Kraken Futures app

Currently, over 80 cryptocurrencies can  be traded in the exchange. In addition,  

it provides a wide range of options for individual  traders for personal crypto investment accounts.  

However, Kraken crypto apps are not available  for New York and Washington residents.

For the funding accounts, Kraken lets its users  pay through fiat currencies or cryptocurrencies.  

It also provides margin accounts, futures  trading, and OTC trading through its platform.

Besides, Kraken provides rewards to passive  traders for staking cryptos and fiat currencies.  

And it doesn't have any wallet.

Binance

Binance is a leading crypto exchange  founded by Changpeng Zhao in  

2017. It is registered in the Cayman Islands.  The company has high-frequency trading software.

Besides crypto trading, Binance provides a range  

of services for individual traders  and institutions, which includes:

Futures trading

Margin trading

Binance Academy is an educational  resource for beginners

NFT services

However, unlike Kraken, Binance offers more  cryptocurrencies for trading – a primary reason  

for its popularity among traders looking  for more coin and token variety to trade.

Its trading services include:

Peer-to-peer transactions

Classic Binance trading interface

Advanced trading platform

Over-the-Counter trading portal

However, US users do not have access to  main Binance platform, but they can use  

the country-specific platform. Although the  US platform offers fewer assets than its  

original platform, it still provides various  features for individuals and institutions.

Binance also offers crypto loans. Big traders can  use its Visa cards for purchasing items globally.

To conclude

The global crypto market is currently worth around  US$1.9 trillion. Both Binance and Kraken exchanges  

have caught traders' attention due to  their unique and innovative features.  

For instance, their easy-to-use interface and  trading platforms were drawing new users. However,  

traders should evaluate the companies and crypto  assets carefully before investing in them.