![]() If, however, you would like to trade with fiat currencies then it may make more sense to go with Kraken. If you are only interested in crypto currencies, then Poloniex may be the better option for you. While Kraken is more versatile, in terms of sheer number of supported currencies, Poloniex has the edge. This means that you have more variety and versatility in terms of the currencies that you can deposit and withdraw, as well as more variety in terms of how you interact with the exchange platform. Kraken, while having a lower number of crypto currencies available, they do support the trading of fiat currencies on their exchange platform. You can fund your account with any of the coins available on the exchange, however, and there are a lot of them to choose from (up to one hundred) including the more mainstream options of Bitcoin, Ethereum, Monero, and Tether. This means that you are not able to deposit fiat currency (such as the US dollar) into the exchange. They do not, however, trade with fiat currencies and trade exclusively between different crypto currencies. In terms of the number of supported currencies that each exchange possesses, Poloniex has the advantage due to the large number of currencies that can be traded on their platform. In this section we will look specifically at the different features and characteristics of each exchange and will make a determination as to which one is better. Head-to-head comparison: Kraken vs Poloniex Has a large number of crypto currencies available to trade.Low trading fees and no deposit/withdrawal fees.Despite this, they are still one of the most popular cryptocurrency exchanges on the crypto market and provide a valuable and necessary service. As a relatively new cryptocurrency exchange platform, Poloniex have experienced various challenges and have had to work through many issues. Poloniex was hacked in 2014 and again in 2020 which has reduced its trust and credibility with customers. Poloniex focuses mainly on the US market but it has a large availability of altcoins (other types of crypto currency) that can be traded in return for bitcoin. It operates out of its headquarters in Wilmington, Delaware, which is one of the most heavily regulated states in the United States. Poloniex, founded in 2014 by Tristan D’Agosta, is a crypto-to-crypto exchange platform. ![]()
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