Kraken VS Bitstamp

Comparison
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General Information

KrakenBitstamp
Year of foundation20112011
CountryUSASlovenia
LanguagesEnglish, Japanese, Chinese, German, Spanish, Russian, Greek, Ukrainian, Turkish, French, Italian, Portuguese, and two types of KoreanEnglish
Mobile appiOSiOS, Android
Available CryptocurrenciesBitcoin, Ethereum, Litecoin and 14 moreBitcoin, Ethereum, Litecoin, Ripple

Trading Volumes and Traded Pairs

Kraken and Bitstamp attract the majority of cryptocurrency users because of their work with fiat currencies such as USD and EUR. If you are an experienced trader who wants to trade altcoins and use leverage, the choice is obvious, you need Kraken.

Kraken

Kraken definitely wins in this category. The full list of koins includes Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash, EOS, Ethereum Classic, Iconomi, Augur, Stellar Lumens, Monero, Ripple, Zcash, Gnosis, Dogecoin, Melonport and Tether. The exchanger also offers BTC and ETH trading pairs to various fiat currencies, including the U.S. dollar, British pound, Canadian dollar, euro and Japanese yen.

Bitstamp

Bitstamp supports currency trading with Euros (EUR) and US Dollars (USD). British Pounds and Swiss Francs can also be used on Bitstamp, but you will not be able to trade with them. They will be converted to EUR or USD before you can trade with them. The following 5 cryptocurrencies are available on Bitstamp: Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin. There are 11 trading pairs available on Bitstamp. Bitstamp exchange combines buyer and seller.

Commission

Kraken

Kraken has one of the lowest fees in the industry. There are no fees for cryptocurrency transactions and fiat deposit is free (EUR SEPA, CAD transfer, domestic JPY deposit) or very cheap ($5 per USD transfer).

Withdrawal fees are also small: $5 for a USD withdrawal, €0.09 for an EU SEPA withdrawal, 300 yen in Japan, or $10 per Canadian dollar. Unfortunately, fees are higher for cryptocurrency withdrawals. 0.001 BTC or 0.005 ETH doesn’t seem like a big fee, but right now it’s about $7.30 and $1.50, respectively.

Bitstamp

The fees on Bitstamp are also quite low, but only if you are an EU resident. SEPA deposits are free and you only pay €0.90 for withdrawals. Transfers will cost 0.05% per deposit and 0.09% per withdrawal. There are no fees for deposits or withdrawals using cryptocurrency. The only fees that are best avoided are credit card deposits, ranging from 5% to 8% of the total amount.

Security

Kraken

Kraken wallets have never been hacked, which is impressive considering the exchange has been in operation for more than 6 years. But there have been trading problems that have caused big losses for customers. In a high-profile incident in May, a massive order to sell ETH coincided with a DDoS attack on Kraken servers. The result was that hundreds of traders with long leverage positions closed their orders with huge losses, plus those users couldn’t access Kraken to buy back ETH as it collapsed from $90 to $26 in a matter of minutes. Kraken closed all transactions and refused to reimburse any losses caused by these events, stating that the exchange was not responsible for losses from valid sales orders and that the DDoS attack was a simple coincidence.

Bitstamp

Bitstamp has suffered one major hack in its lifetime: 19,000 bitcoins were stolen in January 2015, resulting in a loss of more than $5 million. That might have been enough for many exchanges to simply shut down, but Bitstamp was already a reputable exchanger and decided to compensate all those affected. This showed the character of the management and strengthened Bitstamp’s reputation. The entire platform was rebuilt for security, and not a single customer lost money. It keeps almost all of its digital assets in cold storage. This means they are offline, away from thieves and hackers. The platform also offers users two-factor authentication.

Convenience of Use

All of these platforms have a fairly common and user-friendly interface. They provide users with Japanese candlestick type charts and analysis tools. Bitstamp’s trading page design is less traditional, so it may take some time to get used to the interface. Overall, Kraken and Bitstamp provide users with a better trading interface.

Kraken

As auxiliary services, users have access to the most current rates, charts, summaries, reviews, and transaction histories. In addition, there is a separate application for cell phones. According to reviews, users really like all of the auxiliary online services. The language settings of the interface are also an important factor. Thanks to all these factors, this cryptocurrency exchange platform has won its users all over the world.

Bitstamp

Bitstamp is a well-designed platform with limited trading features. This means that it only has a small number of cryptocurrencies and a small number of things you can do with them. However, the way Bitstamp displays some of its trading information is not so simple.

Pros and Cons

Kraken

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

Bitstamp

Pros
  • Good reputation of the exchange;
  • High liquidity;
  • Trading, deposit and withdrawal in fiat currency;
  • No deposit and withdrawal limits.
Cons
  • Obligatory verification;
  • Limited selection of digital assets;
  • Lack of support for stabel coins.
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