Kraken and Bitstamp are into operation since 2011 and serves quite a good percent of crypto traders in the world. Both are known for their supreme service and facilities it provides to its users.
Today Cointogeek will compare both the exchanges in every aspect and will let you know about our final verdict on them.
Launch Year & Location
Kraken is a US based cryptocurrency exchange based in US. It has its operations in USA, EU, Japan and Canada. Kraken was founded 6 years ago in July 28, 2011.
Bitstamp is a cryptocurrency exchange based in Luxembourg founded in the year 2011.
Kraken offers trading of a vast number of digital currencies like – BTC, ETH, DASH, GNO, ICN, Litecoin, MLN, Monero, REP, Ripple, Zcash, Stellar, Bitcoin Cash.
Bitstamp has listed Bitcoin, XRP, Litecoin, Ethereum, Bitcoin Cash for trading on its platform.
Kraken offers four tiers of registration programs, offering different services in each tier. Usually Tier 1 and Tier 2 registration takes few minutes whereas for higher features in Tier 3 and Tier 4 it can take couple of days.
Bitstamp’s verification process usually takes about 2 hours and might take couple of days to get a verified account .
Kraken- There is no fees on crypto deposits and withdrawals and below is the trading fees offered-
Bitstamp- There is no deposit fees and 0.90 euro withdrawal fees. The trading fees is shown below-
Ease of Use
Kraken serves both beginners and professionals by offereing simple, intermediate and advanced templates. Kraken is also on mobile platform too but only on IOS.
Bitstamp’s website offers a clean and simple interface which is very easy for a first time trader also. Bitstamp also have its presence in mobile app ecosystem.
Kraken offers 24/7 support but its support service always have issues like late responses and it can take a couple of days to react.
Bitstamp’s support is well known for their quick response to support tickets. They have earned respect in this regard.
Kraken offers top notch security. The company has two-factor authentication, PGP encryption for email communication and global setting lock, which prevents any account changes in a particular time period. They hold the majority of funds offline in cold storage.
Bitstamp was hacked in January 2015 but the company compensated the loss from its profits and earned a great respect from the trader community. Since then Bitstamp has reworked its security and adopted all the latest security measures to prevent any hack.
Both exchanges have their own pros and cons but Cointogeek recommends you that if you are a casual trader and then choose Bitstamp for its better support and fast trading experience otherwise in if you wish to invest in vast portfolio of coins then choose Kraken.