Discover the differences between Kraken and Kraken Pro. Compare features, fees, and tools to find out which platform suits your cryptocurrency trading needs in 2024
What Is Kraken?
San Francisco-based Kraken is a well-known crypto exchange founded in 2011.
It allows its clients to exchange cryptocurrencies, such as Bitcoin and Ethereum, for other cryptocurrencies, such as USD, EUR or JPY.
As proven by these features, Kraken is highly secure and is engaged in margin trading, spot trading, futures trading, staking, etc.
Regarding overall trading activity, both spot and derivatives, Kraken is rated as one of the few leading exchanges.
Kraken strives to offer complete trading solutions to beginners and experts, offering short but secure and efficient trading sessions.
What Is Kraken Pro?
Kraken Pro is the best trading platform for cryptocurrency traders because it mainly targets professional users.
The platform has much to offer, including advanced charting, technical indicators, and a range of order types like stop loss, take profit and reduce-only.
Over 210 assets, including crypto, stablecoins, and fiat, are tradable through Kraken Pro.
There is a solid trading architecture on which Kraken is built to control and optimize latency and performance during peak times.
In addition, the application offers deep liquidity via Kraken Pro, which is necessary to make trades fast and precise.
Furthermore, it offers margin trading, staking, and asset management features, all appearing in a fully adjustable interface.
Kraken vs Kraken Pro
| Feature | Kraken | Kraken Pro |
|---|---|---|
| Target Audience | Beginners and casual traders | Professional and experienced traders |
| User Interface | Simple and user-friendly | Complex with advanced features |
| Trading Options | Basic trading options | Advanced trading options including margin trading and futures contracts |
| Analytics Tools | Basic | Enhanced tools and in-depth market analysis |
| Security | High-level security measures including 2FA and cold storage | High-level security measures including 2FA and cold storage |
| Liquidity | Standard liquidity | High liquidity for faster trade executions |
| Support | Extensive educational resources | Professional support and resources for advanced trading |
Kraken Features
User-Friendly Interface
Targeting simple users, uncomplicated executions of trades and navigation windows are provided.
Basic Trading Options
A few trading pairs and features can be applied to trading as a hobby.
Educational Resources
Offers education on cryptocurrency to allow new customers to participate.
Mobile App
Simple mobile applications to trade on the move are limited to fundamental functionalities.
Customer Support
Support with live agents 24/7 with an emphasis on support of beginner users.
Kraken Pro Features
Advanced Trading Tools
It provides a web-based trading platform with all optional features, including advanced on-screen charts and statistics.
Lower Fees
Active trader-specific fee schedule that encourages making a high volume of trades
Multiple Order Types
It includes various orders, including limits, stops, and markets.
Extensive Trading Pairs
Availability of too many cryptocurrencies and trading pairs.
API Access
Provides API facilities for trade algorithms and for external apps to communicate.
Kraken and Kraken Pro target the specific needs of their users corresponding to their level of expertise and trading requirements:
Who should use Kraken?
Beginners
It is ideal for new entrants in the cryptocurrency market. It provides an intuitive interface and tutorials focused on fundamental trading principles.
Casual Traders
If you want to do only occasional trades and want to use a simple platform with no advanced tools, then Kraken would be best for that.
Security-Conscious Users
Kraken has established a good reputation for the safety of customers` funds. Hence, users who value safety will find it the best option.
Who should use Kraken Pro?
Experienced Traders
Built for advanced traders, Kraken Pro caters to users’ needs who will require segment-specific tools and features.
Active Traders
If you are an active trader somewhere in the middle and want lower commissions, Kraken Pro is well-suited with cheaper transaction costs and margin and futures trading.
Technical Analysts
Users who base their trading decisions on technical means will find Kraken Pro the best since it contains all the technical indicators and charting systems.
Conclusion
In conclusion, the decision to opt for either Kraken or Kraken Pro depends significantly on the level of trading experience and the needs of its users.
Kraken is the most suitable and ideal for a novice as it has an amicable trading interface, trading essentials, and a learning chance.
Meanwhile, Kraken Pro caters to the riskier experts, offering sophisticated trading tools, minimal fees, and more valuable tools.
ThereETH feesth sites work diligently to ensure the safety and support of the customers and provide a safe trading experience.
Consider your strategy and preferences concerning cryptocurrency and choose the most favourable website.
