Huobi and Kraken are two of the global crypto exchanges that are widely popular and used by millions of users.
Both exchanges stand at an equal position in many cases and offer you a great trading experience. But what if you have to choose one between Huobi vs Kraken?
The choice can be tough. But to help you out, I have compared both exchanges below at many key factors. So it will be easy to make the decision.
Anyway, now let’s dive into the comparison:
Huobi vs Kraken: At A Glance Comparison
Huobi is a pretty old cryptocurrency exchange established in 2013 in China. However, in today’s time, it serves users in more than 130 countries.
The exchange allows users to trade in a wide range of cryptocurrencies across different markets. You can use Huobi to trade in the spot, margin, and derivatives markets.
Plus, it also offers you access to a bunch of other crypto features as well. Such as copy trading, dual investment, Huobi earn, etc.
Kraken is also one of the oldest crypto exchanges, founded back in 2011. The exchange is based in San Francisco, California.
The exchange is trusted by millions of users, and it offers you to trade in a wide range of fiat assets.
With Kraken, you can trade in all sorts of markets, such as spot, margin or futures. Overall the exchange has a reputation for being reliable and transparent.
Huobi vs Kraken: Trading Markets, Products & Leverage Offered
Let’s start comparing both exchanges by their trading markets, leverage, and other products offerings:
- Spot Trading
- Margin Trading with leverage between 3x, 5x & 10x
- USDT-M and Coin-M perpetual contracts with leverage of up to 200x leverage
- Copy Trading
- Trading Bot
- P2P Trading
- Spot Trading
- Margin Trading with up to 5x leverage
- Futures trading with up to 50x leverage
Verdict: Huobi is clearly a better choice. The exchange offers you more trading products along with higher leverage than Kraken.
Huobi vs Kraken: Supported Cryptocurrencies
Talking about supported crypto tokens, Huobi allows you to trade in more than 1,000 types of crypto tokens. The list includes all the major tokens along with new tokens. Some of the listed tokens are:
On the other side, Kraken supports over 220 cryptocurrencies. This includes both major traded coins and a few new tokens. Some of the tokens that you can find on the exchange are:
Verdict: Huobi has an extended number of crypto asset offerings which would allow you to explore different markets. Hence, it is the winner for this section.
Huobi vs Kraken: Trading Fee & Deposit/Withdrawal Fee Compared
Huobi Spot Trading Fees
When it comes to Huobi’s spot trading fees, it has a straightforward fee structure. It has different levels of tiers and follows the usual maker-and-taker fee model.
On top of that, you also get 25% off in fees if paid with HT tokens. So the regular and discounted maker and taker fee stands at:
|Regular Trading Fees||0.2000%||0.2000%|
|Discounted Trading Fees (25% Off)||0.1500%||0.1500%|
Huobi Futures Trading Fees
The same tiered fee structure also goes for futures trading. However, for futures trading, you only get up to a 5% fee deduction with HT tokens. And here is how the USD-M and Coin-M fee stands at:
|Maker Fees||Taker Fees|
Huobi Deposits & Withdrawal Fees
On Huobi, you can deposit crypto tokens without paying any charges.
However, if you are depositing fiat, it will be subjected to a transaction fee. The deposit fee would vary from one deposit method to another.
The same goes for withdrawals of fiat currencies. Even if you are withdrawing crypto, it will be subjected to a withdrawal fee. The withdrawal fee varies from one crypto token to another.
However, if you don’t wish to pay any deposits or withdrawal fees at all, then you can use Huobi’s P2P trading.
Kraken Spot Trading Fees
Kraken also uses a maker-and-taker fee model and follows the usual tiered fee structure.
However, unlike Huobi, it doesn’t offer you any additional discounts on your trading fee. So the regular trading fee stands for users with a trading volume between $0 to $50,000:
- Maker Fees: 0.16%
- Taker Fees: 0.26%
Kraken Futures Trading Fees
Kraken futures also has the same tiered fee structure, and the fee schedule is based on your 30 days futures trading activity. Talking about the fees, here is what it looks like for users with a trading volume between $0 to $100,000:
- Maker Fees: 0.02000%
- Taker Fees: 0.0500%
Kraken Deposits & Withdrawal Fees
Most cryptocurrency deposits are free on the exchange. But you must meet the minimum deposit amounts. However, there are a few crypto deposits that will incur a setup fee or deposit fee.
Also, when it comes to crypto token withdrawal – it charges you a certain fee. The fee varies from one currency to another. Also, you need to meet the minimum withdrawal limit.
If you are depositing/withdrawing fiat, then it will be subjected to a transaction fee depending on what payment option you have selected.
However, Kraken doesn’t support P2P trading. So there is no way to deposit and withdraw funds at zero cost.
Verdict: Huobi stands out as the clear winner. The exchange has a cheaper trading fee compared to Kraken. Even it offers you a 25% fee deduction on the spot and a 5% fee deduction on futures when paying via HT tokens.
Huobi vs Kraken: Order Types
- Trailing stop
- Stop loss
- Stop loss limit
- Take profit
- Take profit limit
Verdict: Kraken supports an extended number of order types – hence it wins this section clearly.
Huobi vs Kraken: KYC Requirements & KYC Limits
To trade on Huobi, you don’t need to complete your identity verification as it is a no kyc exchange. Without completing KYC, you can deposit and withdraw crypto tokens and use P2P.
However, if you wish to deposit or withdraw fiat using credit or debit cards or any other third-party payment options, then you will have to go through KYC verification. Also, Huobi doesn’t have different KYC levels.
Kraken made it mandatory to complete your KYC.
After you sign up on the exchange, you are required to verify your account to deposit funds and start trading. Also, Kraken has different levels of KYC. These levels are Starter, Express, Intermediate, and Pro.
Verdict: As Huobi can be used without identity verification, I declare it as the winner. The exchange would be a suitable option for anyone who wants to trade anonymously.
Huobi vs Kraken: Deposits & Withdrawal Options
Now let’s talk about the deposit and withdrawal options offered by both exchanges.
- Method 1: Buy crypto using Visa, Mastercard, and other payment methods.
- Method 2: Deposit or withdraw funds using P2P trading.
- Method 3: Use another crypto wallet or exchange to deposit/withdraw funds.
- Method 1: Buy crypto using a debit/credit card, bank transfer, or other payment methods.
- Method 2: Use another crypto wallet or exchange to deposit/withdraw funds.
Verdict: Huobi offers you a few extra methods to deposit and withdraw funds compared to Kraken and doesn’t require KYC to deposit funds. Hence, it is the winner.
Huobi vs Kraken: Trading & Platform Experience Comparison
Huobi has a pretty advanced trading platform with all the trading tools you are going to need. It offers you trading features such as:
- Original and TradingView technical chart
- Trading Pair details
- Order book
- Easy-to-use order form
- Positions, open orders, order history, transaction history, position history, and transaction records
To know more about the exchange, you can check out how to place long and short Bitcoin orders on Huobi guide.
Kraken has two different trading platforms.
The first one is a pretty basic window where you can only buy and sell crypto assets. This is suitable for anyone looking to use Kraken for investment and managing their portfolios.
However, if you are a crypto trader, you need to switch to Pro.Kraken.com. This is an advanced trading platform that is rich in trading features. Some of such features are:
- Technical chart by TradingView
- Trading Pair Details
- Easy-to-use order form
- Open orders, conditional orders, positions, trades
You can also learn more about the exchange, by checking out this Kraken tutorial.
Verdict: There is hardly any difference in terms of trading experience. So I declare it a tie between Huobi and Kraken.
Huobi vs Kraken: Customer Support
Huobi offers you support in multiple ways. The easiest way to reach out to them would be to use its live chat support.
Alternatively, you can also send them a support email. Overall, the exchange has a quicker response time and solves your queries at the earliest.
Kraken also offers you excellent support. Their help is available 24/7, and you can reach out to them through live chat, or you can raise a support ticket.
Alternatively, you can also contact Kraken on Twitter at their Twitter handle @ Kraken support.
Verdict: Kraken is a better choice in terms of support. It offers you support in multiple ways and has a faster response time.
Huobi vs Kraken: Security Features
- Two Factor Authentication
- Third-Party Account Authorization
- Trading Password
- Anti-Phishing code
- Beneficiary settings
- Emergency contact settings
- Two Factor Authentication
- Device Management
Verdict: In terms of security features, Huobi is clearly a better choice. The exchange offers you a bunch of security features, whereas Kraken only offers you two.
Is Huobi Safe & Legal To Use?
Huobi is one of the safe and legal platforms for trading crypto. The exchange holds client funds in multi-signature cold wallets.
Plus, it has 20,000 BTC security reserve funds to deal with any extreme security accidents.
Plus, it also offers several high-security features to its users. Additionally, the exchange doesn’t have any history of security breaches to date.
Is Kraken Safe & Legal To Use?
Kraken is a safe and legal platform to trade. It is one of the reputable crypto exchanges out there that has a heavy focus on security.
It uses advanced technologies to protect users’ data and funds, such as a multi-sig wallet, cold storage, and more. The exchange is also well-regulated in regions like North America, Europe, and APAC.
Huobi vs Kraken Conclusion: Why not use both?
Both Huobi and Kraken are reputable and widely used cryptocurrency day trading exchanges out there. However, if I have to choose an exchange, it would be Huobi for various reasons.
Huobi offers you more markets than Kraken and requires no KYC.
Also, it offers you up to 200x leverage which is higher than many other crypto exchanges. Plus, it has a cheaper trading fee with additional discounts in comparison to Kraken.
But Kraken cannot be ignored as well. The exchange is well-regulated and offers you a safe trading experience. The exchange keeps your funds in cold storage.
See how Huobi & Kraken gets compared to other crypto exchanges: