Compare Kraken vs Poloniex

Kraken vs Poloniex: A Comprehensive Comparison Review

Kraken and Poloniex are two of the longest-running cryptocurrency exchanges in the industry. Both platforms have gained a reputation for their high level of security and ease of use, making them popular choices for investors of all levels of experience. In this comparison review, we will take a closer look at the two exchanges to help you decide which one is right for you.

User Interface and Experience

Kraken and Poloniex both offer easy-to-use and intuitive interfaces, but Kraken has a more streamlined and modern design compared to Poloniex's somewhat dated interface. Kraken's user interface allows for easy navigation, and the exchange has a mobile app available for download on both iOS and Android devices, which makes it convenient for traders on the go. Poloniex also has a mobile app, but its user interface is not as user-friendly as Kraken's.
Kraken's user experience is further enhanced by its customer support team, which is available 24/7 to assist with any issues or questions. Poloniex, on the other hand, has faced criticism in the past for its slow customer support response times.

Cryptocurrency Selection

Both Kraken and Poloniex offer a wide selection of cryptocurrencies, but Kraken has a more extensive selection with over 50 cryptocurrencies available for trading. Poloniex, on the other hand, offers around 30 cryptocurrencies.
Kraken is also known for its support of fiat currencies, with users able to trade in USD, EUR, CAD, GBP, and JPY. Poloniex, on the other hand, only supports cryptocurrency trading, and users cannot deposit or withdraw fiat currency.

Security

Security is an essential aspect of any cryptocurrency exchange, and both Kraken and Poloniex have a strong track record in this area. Kraken's security measures include two-factor authentication (2FA) and cold storage for the majority of its assets. Kraken also performs regular security audits to ensure the safety of its platform and its users' funds.
Poloniex also uses 2FA to secure user accounts and offers cold storage for the majority of its funds. However, Poloniex has experienced a security breach in the past, which led to the loss of some users' funds. Since then, the exchange has taken steps to enhance its security measures.

Fees

Fees are an essential consideration for traders, and both Kraken and Poloniex have competitive fee structures. Kraken's fees are volume-based and start at 0.16% for makers and 0.26% for takers. Poloniex's fees are also volume-based and range from 0% to 0.125% for makers and takers.
Kraken also offers fee discounts for high-volume traders, which can be as high as 0.02% for makers and 0.04% for takers. Poloniex does not currently offer fee discounts.

Trading Features

Kraken and Poloniex both offer a range of trading features, including spot trading, margin trading, and staking. However, Kraken has a more extensive selection of trading pairs, with over 150 trading pairs available, compared to Poloniex's approximately 60 trading pairs.
Kraken also offers futures trading, while Poloniex does not. Kraken's futures trading platform is known for its high liquidity and low fees, making it a popular choice for futures traders.