It is often difficult to choose between two good options. This is especially true when choosing between exchanges, as there are many different factors to consider.
In the case of Binance US and Kraken, both exchanges are large, well-established, and offer a great selection of assets. Below, we will compare these two exchanges in terms of security, fees, liquidity, and customer support, to help you decide which is the better option for you.
Security
When it comes to security, both Binance US and Kraken are strong choices. Binance US is a decentralized exchange, which means that it is not subject to the same regulations as traditional exchanges. This can be seen as a positive or a negative, depending on your perspective. However, Binance US does have a very strong security protocol, with 2-factor authentication and a host of other features.
Kraken is also a very secure exchange, and has never been hacked. In terms of security, it is hard to choose between these two exchanges.
Fees
When it comes to fees, Binance US charges slightly higher fees than Kraken. However, Binance US does offer discounts for users who hold their native token (BNB). For example, if you hold BNB in your account, you will receive a 50% discount on trading fees.
This can make a big difference if you trade frequently. In terms of fees, it really depends on your trading activity and whether or not you hold BNB.
Liquidity
In terms of liquidity, both Binance US and Kraken are good choices. Binance US has a daily trading volume of around $1 billion, while Kraken’s daily trading volume is around $160 million.
This means that there is more liquidity on Binance US, which can be helpful if you want to buy or sell large amounts of assets quickly. In terms of liquidity, Binance US is the better choice.
Customer Support
When it comes to customer support, Kraken is the better choice. Kraken has 24/7 customer support available via live chat and email.
Binance US does not have 24/7 customer support available, which can be frustrating if you need help outside of normal business hours. In terms of customer support, Kraken is the better choice.
Conclusion
Both Binance US and Kraken are large, well-established exchanges with a great selection of assets. In terms of security and fees, both exchanges are good choices.
However, in terms of liquidity and customer support, Binance US is the better choice.