Bittrex and Kraken are two of the most renowned names in the crypto margin trading space.
With a daily spot trading volume of over a billion dollars, Kraken is one of the most popular crypto exchanges in the market. Bittrex is slowly catching up with a daily spot volume of over $140 m.
Both the cryptocurrency exchanges offer top-notch security, multiple cryptocurrencies, and leading-edge trading and investing environments. So, which exchange is better and why? Let’s find out in this in-depth comparison.
Bittrex vs. Kraken: Supported Cryptocurrencies and Margin Trading
Kraken and Bittrex both support multiple cryptocurrencies and tokens. Hence, traders can choose from a wide range of pairs to trade from.
Kraken doesn’t support as many cryptocurrencies as Bittrex. This US-based crypto leverage trading platform has around 100 popular coins, like Bitcoin, Ethereum Classic, and other alternative coins. The team is constantly adding new tokens.
Kraken offers various extra features and products. It has margin trading, futures trading, OTC desk, and account management that is missing in Kraken. So, Kraken compensates for the fewer cryptocurrencies with more trading products, and Kraken also has high liquidity.
Verdict: It’s a tie. Bittrex supports more cryptocurrencies, but Kraken offers extra features and options.
At the time of writing, the Bittrex exchange supports over 300 cryptocurrencies and 600+ trading pairs. You can trade crypto against USDT, USD, EUR, BTC, and ETH. Besides, Bittrex has over 100 tokenized stocks.
You can also find newly added cryptos on Bittrex, like DFI, CEL, SIGNA, etc.
Bittrex vs. Kraken: Maker/Taker Fees and Withdrawal Fees
The fee structure is an important factor to consider before registering on a crypto exchanges with futures. Both Kraken and Bittrex implement a tiered fee structure, where the fee varies based on trading volume. Let’s compare the fee structures of the two exchanges.
Bittrex Trading Fees
Bittrex has a tiered fee structure depending on your last 30-day trading volume. Users with a volume of less than $5k are in the first tier, and the market maker/taker fee for the first tier is 0.75%/0.75%.
Users with a 30d volume of over $100 million are in the final tier. For them, the market maker and taker fee is 0.00%/0.05%.
Let’s talk about the transaction fees as well. Bittrex doesn’t charge any deposit fee; however, it has a nominal withdrawal fee specific to each token.
Kraken Trading Fees
Kraken charges a flat 0.9% on buying stablecoins and 1.5% on buying other crypto or FX pairs. This fee schedule is applicable to Kraken Instant Buy only.
If you are a Kraken Pro user, a tiered fee structure will apply to you. Users with a 30d trading volume of under $50,000 are in the first tier, and the market maker/taker fee for this tier is 0.16%/0.26%.
Users with a 30d trading volume of over $10 million are in the final tier. There are lower fees for these users: 0.00%/0.10%.
The fee structure is almost similar for stablecoins and FX pairs, margin trading and futures trading.
Like Bittrex, Kraken doesn’t charge a deposit fee, but it charges a nominal withdrawal fee based on the cryptocurrency you’re withdrawing.
Verdict: It’s a tie, as both Bittrex and Kraken have a similar fee schedule, and both exchanges don’t provide a rebate on maker fees.
Bittrex vs. Kraken: Account Funding Methods
Kraken and Bittrex both support a wide range of funding methods. You can transfer funds directly from your bank account and use them for trading in the crypto market. Let’s look at the account funding methods supported by Kraken and Bittrex.
Bittrex offers limited options for fiat deposits and fiat trading. You can add only two currencies to your account: USD and EUR, and the exchange accepts fiat deposits using a debit card or credit card only.
You can also deposit cryptocurrencies like BTC, ETH, and Bitcoin Cash from another crypto wallet.
Kraken provides some of the broadest account funding methods in the crypto industry. It accepts deposits in the following currencies:
- Canadian Dollars
The fiat deposit methods accepted by Kraken depend on your fiat currency. For instance, you can deposit USD using bank transfer, Etana custody, and Silvergate Exchange Network.
Verdict: Kraken is the winner, as it allows you to deposit funds in various fiat currencies and accepts multiple deposit methods.
Kraken vs. Bittrex: Opening Account & Account Limits
Kraken and Bittrex provide an effortless account opening process, and you can complete the registration process and start trading in less than five minutes. Let’s look at the account opening procedure of the two exchanges, along with their KYC requirements.
You can open an account on Kraken by visiting the Kraken homepage and clicking on Create Account in the top-right corner of the page. Fill the registration form and click on the confirmation email. The process will take less than five minutes, and your account will be ready to buy and trade crypto assets.
Kraken doesn’t have mandatory KYC requirements, though unverified users don’t get full access to the Kraken trading platform. There are four verification levels: Starter, Express, Intermediate, and Pro.
The first two levels don’t require identity verification. However, unverified users can deposit $9,000 in their lifetime, withdraw up to $9,000 a month, and can’t trade futures. Verifying your identity unlocks all features and provides broader deposit and withdrawal limits.
You can open an account on Bittrex by heading to the Bittrex homepage and clicking on Sign Up in the top right corner. Enter your email address and password to create an account. Bittrex also allows you to create a corporate account, but not directly, and you’ll need to contact the Bittrex team to learn about corporate accounts.
Unlike Kraken, Bittrex has mandatory KYC. You’ll need to verify your account to use the services offered by the exchange.
Verdict: Kraken is the winner, as it doesn’t have mandatory KYC requirements like Bittrex.
Kraken vs. Bittrex: Ease Of Use & Interface
Kraken and Bittrex both have powerful trading platforms with leading-edge features and functionalities. Let’s compare the two platforms.
Kraken has one of the most robust trading platforms in the crypto space. It has a proprietary charting system that is pretty similar to TradingView, and however, it provides some additional options like the Grid View.
The price chart supports multiple timeframe analysis, and you can choose a timeframe between 1 minute and 1 week. Kraken supports several chart types: candlesticks, Heikin Ashi, line, bar, and mountain. It also supports over 50 indicators, like moving average, RSI, stochastic, and more.
Some other features of Kraken’s trading platform are:
- Spread: Get real-time insight into the buying and selling volume and analyze the market sentiment.
- Order Book: Monitor buy and sell trades in real-time.
- Live Trades: Watch every trade as soon as it’s executed.
Kraken has an intuitive order book that lets you place buy and sell orders and select margin/leverage and order type. Kraken supports four order types: Market, Limit, Stop Limit, and Stop Market. To know more about the exchange, check this detailed Kraken tutorial.
The trading platform provided by Bittrex is quite similar to Kraken, and it has a proprietary charting tool inspired by TradingView. You get multiple timeframes, from 1 minute to 1 month., and youcan choose from over a hundred indicators and plot multiple indicators on the same chart.
Bittrex also provides various drawing tools, allowing you to mark important levels and make educated trading decisions. You can also switch to a depth chart with a single click.
Below the charting system, you have the Order Book section to see real-time buy and sell orders. You can also view your open and closed orders in that section.
The left side of the trading terminal has the order book where you can place buy and sell orders. Bittrex supports the following order types: Limit, Market, Stop Limit, Trailing, OCO, and Ladder Limit.
Both Bittrex and Kraken have a mobile app and support mobile trading.
Verdict: It’s a tie, as both Kraken and Bittrex have intuitive, easy-to-use, and robust trading platforms. Whether you are a beginner or a pro trader, you’ll like Kraken and Bittrex; however, there will be a small learning curve.
Kraken vs. Bittrex: Security Features
Kraken and Bittrex provide top-notch security to their users. Let’s compare the security measures taken by the two exchanges.
Kraken takes every possible fund security measure to create a risk-free trading experience for its users. It stores 95% of its users’ funds in master key cold storage wallets to keep them away from the reach of hackers.
Other security features include:
- Trade two-factor authentication
- Platform and information security
- Penetration testing
- Mandatory KYC for deposits over $9,000
- SSL encryption
- IP allowlisting
Bittrex is a US-based cryptocurrency exchange and has stronger security. Even though it isn’t regulated by the US SEC, it complies with the local financial regulations and has mandatory KYC requirements.
Besides, its security features are similar to that of Kraken. These include hot and cold wallets, two-factor authentication, SSL encryption, withdrawal authentication, IP whitelisting, and more.
Verdict: It’s a tie, as both Kraken and Bittrex offer a safe crypto trading and investing experience.
Kraken vs. Bittrex: Customer Support
Kraken and Bittrex provide excellent customer support and service to their customers. Let’s compare the customer support provided by the two exchanges.
Kraken is the market leader in the crypto space when it comes to customer support and service. It provides support in three ways:
- Live chat
- Phone support
Additionally, it has a comprehensive knowledge base with various helpful articles and guides. You can find answers to the most common questions and queries.
Bittrex provides satisfactory customer support. It has a Contact section where you can get in touch with the Bittrex team by email. The website also has a virtual assistant that can help you with basic queries. You can check the discover section to get answers to commonly asked questions.
- Is Bittrex or Kraken better?
Both exchanges are top-notch and allow you to buy digital assets with complete safety and user-friendliness. However, Kraken offers more features and some advanced features, making it a better option than Bittrex.
- Is Kraken a safe exchange?
Yes, Kraken is a safe exchange. It implements all the security features used by popular exchanges, and its advanced interface and leading-edge security make it a safe and credible cryptocurrency exchange.
- Is Bittrex a Secure Exchange?
Yes, Bittrex is one of the safest cryptocurrency exchanges in the world. Based in the US, Bittrex complies with the local financial regulations, and it also has mandatory KYC requirements, eliminating the risk of fraud and money laundering.
Kraken and Bittrex are both fantastic cryptocurrency exchanges, but Kraken has a slight edge over Bittrex.
Kraken offers more trading products, such as margin trading and futures trading, making it ideal for more experienced traders. It provides more funding options and better customer support and service, and Kraken also has low fees.
Bittrex is also good, but it’s better for beginner traders, especially those based in the US. It doesn’t have margin trading or futures trading, though it has leveraged tokens.
Overall, Kraken is a better crypto exchange for advanced traders.
Check how does Bittrex & Kraken stack up against the competition: