GateHub VS Kraken: Ultimate Crypto Exchange Comparison Guide

Comparison
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General Information

GateHubKraken
Year of foundation20142011
CountryUnited KingdomUSA
LanguagesEnglishEnglish, Japanese, Chinese, German, Spanish, Russian, Greek, Ukrainian, Turkish, French, Italian, Portuguese, and two types of Korean
Mobile appiOS, AndroidiOS

Registration and Verification

GateHub

Registration is straightforward and fast. Its only specific point will be the “RECOVERY KEY,” which you need to write down on a separate piece of paper and download its electronic version. This key is required to access the vault. Verification also passes according to the standard scheme and does not require any additional knowledge.

Kraken

Creating an account at Kraken is a relatively straightforward and straightforward process. However, you should be aware that all exchanges that accept deposits in fiat currencies require verification of the user account. With Kraken, there are five levels of assurance. Passing each of these levels will unlock more features and allow you to do more with your account. To open deposits in fiat currencies, you will need to verify your account up to level two.

Usability of the Interface

All of these platforms have a relatively standard and user-friendly interface. They provide users with Japanese candlestick type charts and analysis tools.

GateHub

GateHub lacks sophisticated analysis tools. The exchange is easy to use and tailored to the needs of users. The team of the resource has done everything to make their product as safe and reliable as possible. They have integrated the ability to restore the password from the vault, which will help regain access to your coins in the case of its loss.

Kraken

The Kraken trading page’s design is less traditional, so it may take some time to get used to the interface. Overall, Kraken provides users with a better trading interface.

Trading Volumes and Traded Pairs

GateHub

The trading volume of Gatehub is 65,602.0. There are five trading pairs available on the exchange. The option to trade in pairs with fiat is not available on the exchange. Margin trading is not available. The coin selection on GateHub is limited. So, no doubt, Kraken has much more to offer when it comes to the selection of supported currencies.

Kraken

Kraken has a trading volume of 90,468,680.0. There are 99 trading pairs available on the exchange. The option to trade in pairs with fiat is not available on the exchange. Margin trading is available on the exchange. All exchanges support commercial money trading. Kraken supports trading in 36 digital and fiat currencies (including Japanese yen, Canadian dollar, sterling, and U.S. dollars and euros).

Commission

GateHub

Gatehub wallet does not charge any commissions for sending and receiving funds, except for transaction fees on the blockchain (miner’s fees). But you will have to pay some fees when using the wallet for trading.

  • Withdrawal via SEPA: from 1€ to 8€ depending on the amount
  • Deposit/withdrawal by international wire transfer: 0.1% (min 15$, max 130$)

Kraken

Almost everyone will pay Kraken a maker’s commission of 0.16% or a taker’s commission of 0.26%. These costs apply to any Bitcoins transaction made with any fiat currency supported by the exchange. On the other hand, if your trading volume exceeds 50,000 Euros per month, the commissions fall to 0.14% for creators and 0.24% for takers. As the volume increases, the percentage of commissions is reduced. These commissions are charged on each transaction, and Kraken uses the last 30-day period to determine the trading volume.

Security

GateHub

GateHub was hacked in 2017. The attacker managed to steal $5 million and numerous user details (hashed email address passwords, secret XRP registry keys, user names, etc.) GateHub requires a second email address confirmation after each attempt to log into an account from an unknown IP address.

Kraken

Kraken has never been the target of successful hacking attempts, even though there have been false rumors on the past subject. Nevertheless, this exchange platform has faced several other problems. There have been complaints about transaction delays caused by the platform’s inability to support a network with many users. In 2017, the performance of the exchange was affected by DDoS attacks. There were also cases of loss of funds, but it turned out that this was due to a lack of caution on the part of users who were exposed to phishing. The platform now gives users the ability to protect their accounts with two-factor authentication.

Pros and Cons

Both exchanges are rightly the leaders. They have their own minuses and pluses. One of these exchanges may be preferable to the other because of certain advantages.

GateHub

Pros
  • Accessibility for beginners.
  • Support for fiat currencies.
  • Versatile platform with solutions for storing and trading cryptocurrencies.
  • Competitive trading fees.
  • Open source.
Cons
  • Deposit fee, which varies depending on the instrument used.
  • Support for cryptocurrencies is limited.
  • There was a hack in August 2017.
  • This is a hot wallet, so it is inherently more vulnerable than cold wallets.
  • Requires identity verification.
  • High transfer fees.
  • Users’ private keys are stored on centralized servers.

Kraken

Pros
  • number of trading pairs
  • margin trading
  • age of occurrence
  • security
  • flexible verification system
Cons
  • compulsory and complex verification
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