Bitbuy vs Kraken: Which is right for you? [2021]

Bitbuy and Kraken are two of the best crypto exchanges available in Canada. In today’s post, we’ve compared the two so you can make the right choice.

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Rating
Cheaper Fees
Payment Methods
Direct Deposit
PayPal
Pay ID
Poli
Features
Beginner Friendly
Mobile App
Cold Storage
2-Factor
Currencies Accepted CAD USD, EUR, GBP, AUD, CHF, JPY

Bitbuy

Pros

  • High Security Focus
  • Compliant & Transparent

Cons

  • currently only available in Canada and users

Bitbuy is a cryptocurrency trading and exchange platform that was conceived in 2013. After operating for that long, the company gained a great reputation amongst its users and is one of the best crypto exchanges on Canadian soil. It currently offers BTC/AUD as well as 25+ other assets for purchase with CAD.

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Kraken

Pros

  • Low non-instant buy fees
  • Advanced trading platform

Cons

  • Extremely high instant buy fees

Kraken is an American exchange. The platform was created in 2011. It has gained immense popularity amongst its users in United States, being one of the recognized crypto exchanges for cryptocurrencies such as Bitcoin (BTC), Ethereum(ETH) or 40 other digital assets.

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Fees

It’s important to consider the fees associated with trading platforms. Here is a comparison of Bitbuy vs Kraken, two popular exchanges:

Bitbuy takes 1% to 1.50% fee for deposits, where Kraken charges a 0.

When buying crypto, Bitbuy charges 0.20% of your purchase price while Kraken charges 0.16%.

You should also consider sell charges which vary. Bitbuy charges 0.20% while Kraken is 0.26%.

Deposit Methods

Bitbuy offers 6 main methods to deposit CAD. They are Bank transfer, Interac (instant e-Transfer), Crypto. The daily limit is $100.00 per day which most people shouldn’t be concerned about hitting as it’s more than enough for the average user!

Kraken allows you transfer funds through their supported payment options which are Bank transfer, Interac (instant e-Transfer), Crypto.

Kraken’s daily deposit limit is €50.

The bottom line is, Bitbuy is the best choice as they have more deposit methods available which makes it easier to transfer funds.

Security Features

Bitbuy has been around for longer than most. They offer high security measures to protect their customers’ assets with the following techniques:

2Factor Authentication, custodial services, regulated MSB or Money Service Business under FINTRAC – all in an effort to keep you safe while trading on CoinSpot.

Kraken is another popular exchange in United States. They use the following methods:

2FA withdrawal email confirmation, airgapped cold storage, strict surveillance.

Both exchanges are secure, but it appears that Bitbuy has better security over Kraken.

Mobile App

Bitbuy has a great, user-friendly mobile app which has a user rating of 4.6 on the Apple app store.

While Kraken does not have an app, it’s website is accessible through a mobile browser.

In terms of user experience and convenience on the go, Bitbuy is your best bet.

Final Verdict

Both exchanges have great service but if I’d had to pick one overall it would be Bitbuy.

Sign up now using the links below:

Bitbuy

Sign Up Here

Kraken

Sign Up Here

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