This table should make things a bit clearer, and as you can see, as trading volume increases, fees reduce:<\/p>\n\n\n\n
![\"Gemini](\"https:\/\/coinclarity.com\/wp-content\/uploads\/2023\/11\/2UiDjz3IQABe9PM8oGKYXYfd8n0PBr4V3K2OtHtkuYO-9oRkqwcSxy3O8V2OUVxxOK77DV7EYZ3dNI9byxNpKsIBsMC_ySLjNb5RgRMtvE6oDe3ku48YyfmHxAEkWPcyiw.jpeg\")
<\/figure><\/div>\n\n\n\nKraken Trading Fees<\/h3>\n\n\n\n
Kraken also offers low fees on their trading platform:<\/p>\n\n\n\n
- The maker fee starts at: 0.16%<\/li>
- The taker fee starts at 0.26%<\/li><\/ul>\n\n\n\n
As a result, users can move on from the higher trading fees and reduce them by trading more than $50,000 per month, comparatively much lower than most cryptocurrency exchanges.<\/p>\n\n\n\n
![\"Kraken](\"https:\/\/coinclarity.com\/wp-content\/uploads\/2023\/11\/x4iPQnUKH65LvyhRIE3OjrXfrXyaJwJCB09HEpODhhkpJDta0gEt6khqj0kUoBPG-oE6xcGM4TD68wEslvXye1SFQIiLFMMvNqxFvjPESudrdO-PRHELR6H45ianCGNPvQ.jpeg\")
<\/figure><\/div>\n\n\n\nNow, look at this second table and notice that all crypto pairs featuring a fiat currency (like USD, GBP, or EUR) or a stablecoin (like USDT or USDC) as the base currency<\/strong> are charged differently. <\/p>\n\n\n\n
![\"Kraken](\"https:\/\/coinclarity.com\/wp-content\/uploads\/2023\/11\/Rm2U7YkNyvXEn2qYT090c41sYYa92ifyHFDRtOXOt2S_nkifIUWBxlZ0BZSUqIoSAhMRS0XGRn6fDqtykfz6sn7GIvbkgSVBUQ3zme1bKoIANbiSTHd9jLUm425JEzP60Q.jpeg\")
<\/figure><\/div>\n\n\n\nRead Kraken\u2019s guide<\/a> to trading costs.<\/p>\n\n\n\n
Gemini v Kraken:<\/strong> Kraken edges this round because the trading volume limits for reduced fees are so low.<\/p>\n\n\n\n
Sign Up & KYC Experience<\/h2>\n\n\n\n
Opening a Gemini Account<\/h3>\n\n\n\n
Gemini could be the best cryptocurrency exchange for you, but you won\u2019t know until you give it a try! <\/p>\n\n\n\n
Here\u2019s how you join on a web browser:<\/p>\n\n\n\n
- Click this link to go to the Gemini website<\/a><\/li>
- Click \u2018Get started\u2019<\/li>
- Give your email address, password, and full name<\/li>
- Head to your emails and find the verification code<\/li>
- Submit that code on the website and add your location and phone number<\/li>
- Next, you\u2019ll be sent a verification code via SMS<\/li>
- Gemini encourages users to set up a banking API that connects your trading account to your bank. This helps prove your identity and gives you faster access to your funds for trading than anywhere else<\/li>
- You\u2019ll then need to upload some documents:
- One to prove your identity – passport, state ID<\/li>
- One to prove your address – bank statement, utility bill, government-issued document<\/li><\/ol><\/li>
- Set up Two Factor Authentication with Google Authenticator<\/li>
- Once approved (which can take just minutes), depositing from your bank account will be instant and you can buy digital currencies right away<\/li><\/ol>\n\n\n\n
Joining the Kraken Cryptocurrency Exchange<\/h3>\n\n\n\n
Making an account with a Bitcoin exchange has never been more secure or straightforward, and Kraken is no exception! So let\u2019s get you started:<\/p>\n\n\n\n
- Click here to begin the process<\/a><\/li>
- Find the \u2018Create Account\u2019 button and go through to the next page<\/li>
- Provide an email address, country of residence, username, and password<\/li>
- Accept Kraken\u2019s T&Cs<\/li>
- In a separate tab or window, find an email from Kraken and copy the long code sent to you<\/li>
- Paste that code in the Kraken window and log in again using your username and password combo as instructed<\/li>
- Once signed in to your new account, you will be able to trade without uploading documents for KYC checks, though with some limits<\/a> in place<\/li>
- To get the full experience, you must submit proof of ID, proof of residence, a selfie, and occupation details<\/li>
- Wait for verification (~10 mins)<\/li><\/ol>\n\n\n\n
Gemini v Kraken: <\/strong>The two exchanges offer similar signups, through Kraken offers KYC-free trading.<\/p>\n\n\n\n
Ease of Use & Feel of Website or App<\/h2>\n\n\n\n
Gemini UX\/UI<\/h3>\n\n\n\n
Gemini allows users to choose their user interface based on confidence or competency, with the \u2018Streamline Trading View\u2019 below being where most beginners start:<\/p>\n\n\n\n
![\"Gemini](\"https:\/\/coinclarity.com\/wp-content\/uploads\/2023\/11\/eyQl8jG6kJPghJrgc2W18gJh_Y7_M-CUO69-u800mboEU9xMxqK65_vhIvNPy2Uxd_O8NqgB1GS5bsKkKwJgCIYTL9evD0YliCHfrC6Kt_tHg4P279z_RiF17gAKW3sydw.png\")
<\/figure><\/div>\n\n\n\nLater, as beginners develop into frequent traders and look for more alternative coins, lower market cap projects, or better trading instruments, they typically progress on the advanced trading platform below:<\/p>\n\n\n\n
![\"Gemini](\"https:\/\/coinclarity.com\/wp-content\/uploads\/2023\/11\/C3HkumpUqtqbHoprN-aqWwB3rkwYt82GntcmcshbjLXQlM4meThP_0XQTguYAGXwscQSx07bCmKrLLjTq0siVPnZsY0MO2KLfVAI41oDav0WxJIV-1zYcChahcDBCvSPGQ.png\")
<\/figure><\/div>\n\n\n\nYou can find both interfaces in the Gemini mobile app, one of the highest-rated and most secure in the industry.<\/p>\n\n\n\n
Using Kraken<\/h3>\n\n\n\n
It\u2019s no wonder Kraken\u2019s trading volume exceeds $1bn every day. The platform is a joy to use, with excellent graphic design, impressive UX, a fantastic user portal, three mobile apps to segregate services (more or less by complexity), and a great range of digital assets. <\/p>\n\n\n\n
![\"Kraken](\"https:\/\/coinclarity.com\/wp-content\/uploads\/2023\/11\/JcuNQuwVh60TSzoyIRW7hkHBQZxirisu0YRlm8e2lKKHa4IIa90I6b_802hGKvrmYitrdwaM22mOTdWTgAssXlqOtP9uWGGNEweIBvyg42hkpBWIlxgkzjbHsU7ZQDfWBA.png\")
<\/figure><\/div>\n\n\n\nThe actual trading interface isn\u2019t to everyone\u2019s taste, but with retro styles (see below) and an exciting layout, it\u2019s not too hard to get used to if you know no different, even better!<\/p>\n\n\n\n
![\"Kraken](\"https:\/\/coinclarity.com\/wp-content\/uploads\/2023\/11\/UQH3bDEzK1ENQtAec0Sc-0Oi6ZlCB9QeB8qLXwRCIW0UvFGtO289mBcSZYm2OMiLoYeQqlLeBS71tdl3ZMbhgnIacRXhEX-XuWt1Zet8CGWIi2_WpfJRFT-Pm6Hhy13aYQ.jpeg\")
<\/figure>\n\n\n\nGemini v Kraken: <\/strong>This is hard to call because they\u2019re both very well designed for new users, but overall, Gemini has a more trustworthy feel.<\/p>\n\n\n\n
Deposit Methods<\/h2>\n\n\n\n
Deposit Fiat Currency into Gemini<\/h3>\n\n\n\n
For USD, Gemini accepts both:<\/p>\n\n\n\n
- *ACH transfers – free to deposit and up to $100,000 per day withdrawal limit<\/li>
- Wire transfers – variable deposit fees and no max withdrawal limit<\/li><\/ul>\n\n\n\n
For GBP, Gemini facilitates:<\/p>\n\n\n\n
- Faster Payments<\/li>
- CHAPS<\/li>
- SWIFT Wire<\/li><\/ul>\n\n\n\n
EUR deposits can be made by:<\/p>\n\n\n\n
- SEPA<\/li>
- SWIFT Wire<\/li><\/ul>\n\n\n\n
The banking API connection performs*ACH transfers made earlier. Wire transfer fees are always charged at the sender\u2019s end.<\/p>\n\n\n\n
Depositing Fiat Currencies on Kraken<\/h3>\n\n\n\n
Kraken offers compatibility for seven fiat currencies to all of their users, except for those living in New York or Washington. <\/p>\n\n\n\n
Here are the fiat currencies you can deposit and their accepted methods:<\/p>\n\n\n\n
- USD<\/strong> – Fedwire, SWIFT, SEN, Wire transfer<\/li>
- EUR <\/strong>– SEPA, SWIFT<\/li>
- CAD<\/strong> – Wire, SWIFT, Cash\/Debit at Canada Post<\/li>
- AUD<\/strong> – Bank transfer \/ Osko<\/li>
- GBP<\/strong> – FBS, BACS, CHAPS, SWIFT<\/li>
- CHF<\/strong> – SIC, SWIFT<\/li>
- JPY<\/strong> – SWIFT<\/li><\/ul>\n\n\n\n
Each method has different deposit fees, with some, if not most of them being free.<\/p>\n\n\n\n
Gemini v Kraken: <\/strong>Kraken offers a more extensive selection of deposit methods and fiat currency.<\/p>\n\n\n\n
Instant Buy Options (Buying with a Credit or Debit card)<\/h2>\n\n\n\n
Make purchases on Gemini<\/h3>\n\n\n\n
Gemini is quite an interesting case. Founded by the Winklevoss Twins, who are better-known for conceptualizing Facebook, it is a platform that values security, integrity, compliance, and regulation. For many crypto-rebels, these terms all equate to over-centralization. Still, for Gemini, it\u2019s exactly the recipe that many skeptics, beginners, and institutions need to feel safe when making investments in digital coins. But, of course, playing by the rules is a good thing, especially if you consider what happened to popular exchange BitMEX (it was shut down for failing to stop money launderers). <\/p>\n\n\n\n
There\u2019s even more good news. When it comes to making purchases, there are more than 50 digital currency options to choose from. Users can buy these crypto-assets with their debit cards for a 3.49% fee or make an ACH transfer (which is done speedily through the banking API). <\/p>\n\n\n\n
Purchasing crypto on Kraken<\/h3>\n\n\n\n
Like Gemini, Kraken\u2019s origins are based on trust, security, and regulation, especially when you consider that the platform was built in response to the mega-hacking of Mt.Gox (850,000 BTC were stolen from cold storage). With great foundations, the platform could offer an excellent brokerage service. <\/p>\n\n\n\n
Debit and credit card transaction costs are 3.75% plus a \u20ac0.25 flat fee for each transaction. This works out to be pretty much in line with other exchanges, and so the competitive fees offer users the best market price, especially when the spread is low (low-liquidity coins can see spreads reach as high as 10%). <\/p>\n\n\n\n
In total, there are around 60 coins for purchase. These coins can be traded on around 350 market pairs on the website or mobile app. <\/p>\n\n\n\n
- EUR <\/strong>– SEPA, SWIFT<\/li>
- USD<\/strong> – Fedwire, SWIFT, SEN, Wire transfer<\/li>
- Click here to begin the process<\/a><\/li>
- Click this link to go to the Gemini website<\/a><\/li>
![\"Trading](\"https:\/\/coinclarity.com\/wp-content\/uploads\/2023\/11\/1D7jUjucTGNEEDuLB-DZzeY3hah2CAyQPdT0sg0ipFyFjngaCZfQkg6zOszbW35bIzSANjMmfI7zv-VPPV1QZfp2cCX09nR91lrGLVYPl18Sbn3lMlRh1r1WmZrjDefPxw.png\")
<\/figure><\/div>\n\n\n\n