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- >eToro vs Kraken
Comparing eToro and Kraken can get rather complicated, rather quickly. To ensure you get all the information you need to make an informed decision, we have compared all the important features in a quick head-to-head comparison.
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eToro vs. Kraken: Comparison at a Glance
Here’s a brief rundown of the important facts before we get into the nitty-gritty details:
Criteria
eToro
Kraken
Best for
Simple interface and social trading
Advanced trading and features
Accessibility
Highly beginner-friendly, limited advanced features
Beginner-friendly base platform, with more advanced Pro interface
Compliance
Registered as a Money Services Business with FinCEN
Registered as a Money Services Business with FinCEN
Security
2FA, SSL encryption, biometric access for mobile
2FA (with Google Authenticator and YubiKey), 95% of crypto assets held in cold storage
Account setup
Straightforward, with KYC requirements
Simple process, tiered system
Cryptocurrencies
70+ coins, including BTC, ETH, ADA, SOL, XRP, DOGE, MATIC, etc
200+ coins, including BTC, ETH, DOT, ATOM. UNI, AAVE, SUSHI, DOGE, SHIB, etc
Breaking down the real differences between these two options
This handy comparison is meant to simplify the research process for you, by highlighting some of the key differences and similarities between these platforms. We also highlight some unique advantages you can expect from using either. However, if you’re looking for a more in-depth look at how the eToro vs. Kraken battle stacks up, we suggest that you check out or detailed crypto exchange reviews.
The Ultimate Platform Showdown: Which Comes Out on Top?
There are many factors to consider when choosing where to place your digital assets. Here are how some of the most important variables compare in the battle between eToro vs. Kraken:
Features
eToro
Kraken
Established
2007
2011
Headquarters
Central Israel
California, USA
Fees
1% crypto fee (2% for transfers)
Complex system with trading fees, payment fees and spread fees
Mobile app
Available for Android and iOS devices
Kraken (and Pro) app available on the App Store and Google Play
Beginner-friendly
Easy to use with copy trading and social trading options
Intuitive interfaces for beginner and advanced traders
Advanced trading options
Focuses on simplicity
Dedicated platform for advanced trading
Wallet integration
eToro Money custodial wallet (limited availability)
Integrated self-custody wallet
Flagship features
Social trading dashboard, copy trading, multi-assets trading
Advanced trading tools, futures and margin trading, developer-friendly tools
Buy/deposit methods
Credit/debit cards. PayPal, Neteller, Skrill, bank transfer
Credit/debit cards, crypto wallets, FedWire, SWIFT
Non-crypto trading
Supports stocks, fiat, and commodities trading
Supports fiat-crypto trading pairs
Withdrawals
Credit/debit cards. PayPal, Neteller, Skrill, and bank transfer
ACH, Fedwire, SWIFT
Staking features
Custodial staking option
Broad staking and yield farming options
Customer support
Automated chatbot and help center support
Support center, email support, and 24/7 live chat options
Which One is Better, eToro or Kraken?
These platforms differ on many levels and are designed to fit different purposes. eToro is definitely better for beginner traders who could benefit from copy trading, or social trading (and slightly lower fees). However, if you’re a more advanced trader, Kraken is the better choice. This exchange offers far more control over assets and gives you access to a wide range of trading tools.
FAQs
Like any platform, your fees on these exchanges will differ based on the type of trade or order, the assets you choose, the volume you are trading, the payment method you choose, and even sometimes, how often you use the platform. It is important to take all of these factors into account, before you make your final choice.
Yes. Both of these platforms are well-known and trusted, with established track records. They feature robust security protocols to protect your funds and your data. With solid regulatory backing, you can rest easy that they are registered in most US states and aro
Kraken is the better choice for long-term crypto holders. The platform allows you to retain full control over your assets, which you can withdraw and keep in a self-custody wallet. It also allows for staking, which can increase yield over time. Though, if you intend to invest in different types of assets and want to manage this diverse portfolio from one account, eToro is still worth looking into.
eToro is a great option for beginners, especially since new users have the option to start out with a free demo account. This gives you $100,000 in virtual funds to practice your trading skills before you invest your own funds. However, this does not mean that Kraken is not also a viable option. In fact, this platform offers plenty of educational materials for new users, and the base platform has everything you need to get started.
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