Comparison of Kraken vs Bigone [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Kraken vs Bigone comparison!

Your expert: Alejandro Borja

Kraken

Your expert: Xavier Tarrasó

Bigone

Main points

Fees

0,16%/0,26%

Earns

Customer service

5/5

0.20%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.5 – Low fees with additional benefits for high-volume traders.

3.9 – Competitive fees with additional costs for advanced features.

Level

0,16%/0,26%

0.20%

Brief explanation

Kraken’s commission structure is designed to be competitive and favorable for both low and high-volume traders. The exchange employs a tiered fee schedule that rewards users with lower trading fees as their trading volume increases over a 30-day period. Fees vary depending on whether you are a maker (creating a new order on the book) or a taker (filling an existing order), with maker fees generally being lower than taker fees to encourage liquidity. While the fees are relatively low for high-volume traders, those trading smaller amounts may find the fees slightly higher compared to other platforms. Additionally, Kraken charges flat fees for fiat deposits and withdrawals, though these can vary based on the method and currency used. Overall, Kraken’s fee structure is transparent, with details readily available on its website, helping users to anticipate and calculate potential trading costs effectively.

As an expert on our website, I highly recommend BigONE for cryptocurrency trading. This Singapore-based exchange offers a robust platform for trading a wide range of digital assets, including over 140 premium tokens. BigONE stands out with its strong security measures, including Two-Factor Authentication (2FA) and the use of cold wallets for 98% of user funds, making it a reliable choice for both novice and experienced traders. The user-friendly interface, combined with competitive fees of 0.20% for both makers and takers, further enhances its appeal. However, the prolonged verification process and the lack of support for fiat deposits are areas that could be improved.

Kraken

Security Methods: Kraken's commitment to security is unparalleled, utilizing state-of-the-art security measures such as two-factor authentication, SSL encryption, and cold storage of the majority of assets. This rigorous approach minimizes the risk of hacking and unauthorized access, making it a trusted platform for trading cryptocurrencies.
Reputation and Reviews: Kraken has maintained a strong reputation within the crypto community for over a decade. Its track record of security, user-focused services, and operational resilience has garnered positive reviews from users and industry analysts alike, reinforcing its standing as a reputable exchange.
Transparency: Kraken is known for its transparency in operations, frequently updating users on system upgrades, security measures, and changes in regulatory compliance. This openness builds trust and ensures that users are well-informed about their trading environment.
Trading Volume and Liquidity: Kraken is one of the largest exchanges in terms of trading volume and liquidity. This allows users to execute large trades without significantly affecting the market price, which is critical for both retail and institutional traders.
Possible Regulation: Kraken adheres to regulatory requirements in all jurisdictions in which it operates, enhancing its credibility and reliability. Compliance with these regulations not only ensures the legality of its operations but also provides a layer of security for its users' investments.

Bigone

Year Founded: Established in 2017, BigONE has been in operation for several years, allowing it to develop a mature platform with robust features. This longevity in the volatile crypto exchange market signifies stability and a proven track record.
Security Methods: BigONE's commitment to security is exemplary, utilizing multi-layered security protocols to protect users' assets. This includes measures like cold storage for the majority of funds, two-factor authentication (2FA), and regular security audits to ward off potential threats.
Reputation and Reviews: The exchange has maintained a good reputation within the crypto community, evidenced by positive user reviews across various forums and platforms. Users praise its user interface, range of services, and the responsiveness of customer support, indicating a reliable service.
Trading Volume and Liquidity: BigONE supports a significant amount of daily trading volume, ensuring high liquidity for its users. This is crucial for traders who need to execute large trades without impacting the market price significantly, and it also indicates the trust and scale of operation BigONE manages.
Transparency: The platform is known for its transparent fee structure and clear policies regarding trading, withdrawals, and deposits. This transparency builds trust with users, as they can trade knowing there are no hidden fees or policies that could affect their trading activities unexpectedly.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Payward, Inc.

BigONE Exchange

Regulation

Regulated in the EE. UU.

Not regulated

Year founded

2011

2017

Founder

Jesse Powell

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Kraken	FEATURES	Bigone
Kraken allows relatively low minimum trade volumes, making it accessible for beginners.	Minimum Trade	BigONE allows for relatively low minimum trades, making it accessible for beginners.
Competitive fees, though slightly higher for low volume traders; discounts for high volume.	Trading and Transaction Fees	The platform offers competitive fees, though its complex point system can be confusing.
Offers a wide selection of cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, catering to diverse trading preferences.
Extensive range of trading pairs, though some less popular pairs have lower liquidity.	Crypto-to-Crypto Trading Pairs	Extensive variety of trading pairs, although not the market leader.
High transparency about fees, security measures, and operational status updates.	Website Transparency	The website provides essential information but could improve in detailing fee structures.
Kraken does not offer an exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Dont’ have crypto card
Excellent security with a majority of funds held in cold storage; provides peace of mind.	Storage Offering	Provides secure storage options with cold storage practices for the majority of funds.
Offers staking options with competitive rewards, although not available for all assets.	Staking and Rewards	Offers staking options with competitive rewards, enhancing investment opportunities.
Both platforms are robust and fully-featured, though the interface can be complex for new users.	Mobile App and Desktop	Excellent mobile and desktop platforms that are user-friendly and highly functional.
Customer service is reliable but can experience delays during high demand periods.	Customer Service	Customer service is available but lacks immediate real-time support like a call center.
Efficient deposit and withdrawal processes, though options may vary by region.	Deposit and Withdraw	Efficient deposit and withdrawal processes, but could be enhanced by accepting more fiat options.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools, some technical indicators

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

Margin trading, futures trading, staking, Kraken Pro exchange

Margin trading, futures trading, staking, BigONE token (ONE) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

100+

User-friendliness

Kraken features a clean and intuitive interface that is easy for beginners to use. The platform is designed to provide a seamless trading experience, making it easy to buy and sell cryptocurrencies.

BigONE features a user-friendly interface that is easy to navigate. Its design caters to beginners, making the process of buying, selling, and managing cryptocurrencies straightforward and efficient.

Value for money

Offers excellent value for money with low trading fees, strong security features, and a wide range of supported cryptocurrencies.

Offers good value for money with low trading fees and a diverse range of cryptocurrencies, making it an affordable option for traders.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

United States, Canada, Australia, Singapore, United Kingdom

Best for

Suitable for all types of investors, from beginners to advanced traders, due to its low fees, strong security features, and wide range of supported cryptocurrencies.

Suitable for beginners and experienced traders seeking an affordable platform with low trading fees and a diverse range of cryptocurrencies.

Base currencies available

USD, EUR, CAD, GBP, JPY, BTC

BTC, ETH, USDT

Account

Trading

Kraken is known for its high security and wide range of cryptocurrencies. It offers advanced trading tools and competitive fees but can be complex for beginners.

BigOne is known for its high liquidity and extensive range of tradable cryptocurrencies. The platform is secure and offers competitive fees. However, it lacks some advanced trading features found on other platforms.

Deposit and withdrawal

Kraken supports a wide range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees .

BigOne supports various deposit methods including bank transfers and crypto. Withdrawals are processed efficiently, usually within a day. Fees are low, enhancing user convenience.

Account opening process

Kraken offers a straightforward and secure account registration process. Users need to submit personal details, verify their identity, and address. The process is fully digital and typically takes less than a day to complete.

BigOne offers an easy account registration process. Users must fill out personal information and verify their identity. The process is efficient and usually completed within a day, ensuring quick access to trading.

KYC required?

Yes

Customer Service

Kraken offers comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance .

BigOne provides support via email and live chat. While the support team is responsive and knowledgeable, the absence of phone support and limited support hours can be a drawback.

Security

Kraken offers extensive security features, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, making it a highly secure platform for investors.

BigOne uses advanced security features like 2FA and cold storage. Despite its strong security measures, the platform is not regulated by major financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

In concluding our comprehensive review of Kraken through Threenvest’s lens, it’s clear that Kraken stands as a formidable player in the cryptocurrency exchange landscape. Known for its robust security measures, wide range of cryptocurrencies, and advanced trading features, Kraken appeals especially to traders who prioritize safety and a diverse portfolio. These strengths are complemented by its deep liquidity and competitive fee structure, making it a preferred choice for serious traders. However, its complex interface and sometimes slow customer service response times during peak periods could pose challenges, particularly for newcomers to cryptocurrency trading. Compared to other exchanges, Kraken’s commitment to regulatory compliance and security is notably strong, positioning it as one of the safer trading environments in an industry fraught with security concerns. On the flip side, its user interface and learning curve may not be as appealing to beginners as some other platforms that focus more heavily on user-friendliness and simple navigation. For users of Threenvest looking to engage in sophisticated trading strategies or those who value a highly secure trading platform, Kraken is undoubtedly a top contender. However, those new to the market might consider starting with platforms that offer more guidance and a more intuitive trading experience.

Xavier Tarrasó

As an expert on our website, I recommend BigONE for traders who prioritize a variety of cryptocurrency options and robust security measures. The exchange offers an extensive selection of crypto-to-crypto trading pairs and maintains high liquidity, which is ideal for both new and experienced traders. However, potential users should note the lack of direct credit/debit card support and the complexity of its fee structure, which may require some initial adjustment. Overall, BigONE is a solid choice, especially if you value a secure and diverse trading environment.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.