Binance and Kraken are two of the most popular cryptocurrency exchanges. They both offer a variety of features and benefits that make them attractive to users.
However, when it comes to fees, Binance is generally cheaper than Kraken.
Binance offers a tiered fee structure that starts at 0.1% for trades. This fee decreases as your trading volume increases. For example, if you trade more than $50,000 in a month, your fee will be 0.
075%. Kraken, on the other hand, has a flat fee of 0.25% for all trades.
In addition to lower trading fees, Binance also offers discounts for users who pay with their Binance Coin (BNB). BNB is Binance’s native cryptocurrency.
If you use BNB to pay your trading fees, you can get a 50% discount on your fees. This discount decreases over time, but it’s still a significant savings.
Kraken does not have a native cryptocurrency or any discounts for paying with certain currencies. This makes Binance the cheaper option for most users.