Comparison of Kraken vs Yellow Card [ 2024 ]

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

Your expert: Alejandro Borja

Kraken

Your expert: Xavier Tarrasó

Yellow Card

Main points

Fees

0,16%/0,26%

Earns

Customer service

5/5

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Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

3.8 – Reasonable fees with strong local support in Africa.

Level

0,16%/0,26%

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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.

Yellow Card’s fee structure is designed to be straightforward and competitive, particularly catering to its primary audience in Africa. The platform charges a nominal fee on transactions, which varies slightly depending on the payment method used and the specific fiat or cryptocurrency involved. These fees are generally on par with regional standards and are structured to encourage frequent small transactions, which is typical among its user base. This makes Yellow Card an appealing option for users who value transparency and affordability in their trading activities.

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.

Yellow Card

Focus on African Markets: Yellow Card specifically targets African users, understanding and addressing the unique financial challenges and needs in the region, which highlights their commitment to their user base.
Reputation and Reviews: Despite being relatively new, Yellow Card has garnered positive reviews for its user-friendly interface and the ease with which users can trade cryptocurrencies, which is crucial for building trust among new entrants to the crypto space.
Customer Service: Yellow Card places a strong emphasis on customer support, ensuring that users have access to help whenever they need it. This is especially important for users new to cryptocurrency, making the platform more approachable.
Security Methods: The exchange employs robust security measures to protect user accounts and transactions, which is fundamental for user confidence in handling digital assets.
Year Founded: Having been established in 2016, Yellow Card has had time to develop and refine its services, gaining valuable experience and insights into the market, which help in providing reliable and effective services.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Payward, Inc.

Yellow Card Financial

Regulation

Regulated in the EE. UU.

Not regulated

Year founded

2011

2016

Founder

Jesse Powell

Chris Maurice

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Kraken	FEATURES	Yellow Card
Kraken allows relatively low minimum trade volumes, making it accessible for beginners.	Minimum Trade	Yellow Card supports relatively low minimum trades, making it accessible for beginners who might want to start small.
Competitive fees, though slightly higher for low volume traders; discounts for high volume.	Trading and Transaction Fees	The platform offers competitive fees, though not the lowest in the market. This could be more attractive with clearer fee structures.
Offers a wide selection of cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Offers only a limited selection of cryptocurrencies, which could be a limitation for those looking to trade beyond the most popular coins.
Extensive range of trading pairs, though some less popular pairs have lower liquidity.	Crypto-to-Crypto Trading Pairs	Limited trading pairs are available, focusing primarily on major cryptocurrencies, which restricts trading strategies.
High transparency about fees, security measures, and operational status updates.	Website Transparency	Yellow Card’s website provides clear information about their services and fees, enhancing user trust.
Kraken does not offer an exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Yellow Card lacks an exchange card, missing an opportunity to extend additional benefits and conveniences to its users.
Excellent security with a majority of funds held in cold storage; provides peace of mind.	Storage Offering	Provides secure storage options, though details on cold storage or insurance would enhance user confidence further.
Offers staking options with competitive rewards, although not available for all assets.	Staking and Rewards	Offers basic staking services but lacks the variety and competitive rates found on more established platforms.
Both platforms are robust and fully-featured, though the interface can be complex for new users.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and highly functional, suitable for traders on-the-go or at home.
Customer service is reliable but can experience delays during high demand periods.	Customer Service	Generally responsive and helpful customer service, although peak times can see slower responses.
Efficient deposit and withdrawal processes, though options may vary by region.	Deposit and Withdraw	Supports multiple deposit and withdrawal methods, though some users may find the options limited compared to larger exchanges.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic buying and selling, no advanced tools

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

Margin trading, futures trading, staking, Kraken Pro exchange

Crypto-to-fiat services, bill payments, mobile top-ups, staking

Anonymity

Yes

Key points

Available cryptocurrencies

100+

Few, primarily major cryptocurrencies

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.

Yellow Card provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

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

Provides decent value for money with competitive fees and strong local support in Africa, making it a good choice for regional users.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

Nigeria, South Africa, Botswana, Kenya, Ghana

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.

Ideal for African investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

USD, EUR, CAD, GBP, JPY, BTC

Multiple local currencies, BTC

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.

Yellow Card is a popular exchange in Africa, offering easy fiat integration and a user-friendly platform. It supports a good range of cryptocurrencies but has higher fees compared to some other exchanges.

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 .

Yellow Card is popular in Africa, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

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.

Yellow Card provides a straightforward and user-friendly account registration process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

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 .

Yellow Card provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in Africa.

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.

Yellow Card employs comprehensive security measures, including 2FA and cold storage. It is regulated by African authorities, ensuring high security for 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 closely analyzing Yellow Card, I appreciate its focused approach to serving the African market. Its user-friendly interface and support for local payment methods make it an excellent choice for newcomers. However, I recommend potential users consider the limited variety of cryptocurrencies offered. This platform is ideal for those starting their journey in crypto trading or those who primarily deal with major cryptocurrencies.

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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.