If you Google “Bitcoin” or “Bitcoin Wallets” you will have hundreds of results with several dozen different Bitcoin Exchanges and/or Bitcoin wallet options. In the past we have always recommended Kraken (and still do) however after using Coinbase now for several months we also give them a thumbs up. There is a few differences between the two, and depending on what is more important to your particular needs may help you decide where to open a wallet.
First off, both Kraken and Coinbase have solid reputations for security so there is no need to worry about that with either option. Both Bitcoin Exchanges allow USA residents to buy, sell and transfer Bitcoin and both offer endless Bitcoin addresses where you can send funds. The main difference between the two is the amount of fee’s charged and the amount of time it takes to withdraw funds from your Bitcoin wallet to your personal checking account.
If you do need access to your funds held in your Bitcoin wallet in very short periods of time, Kraken is probably the better choice with lower fee’s. At Kraken you can sell your Bitcoin and then wire your funds to your personal checking account. While in most cases this process only takes 1 or 2 days, we have experienced wires taking up to 5 days to hit our checking account. The cost of sending a wire is only $5, so for the lower price you may occasionally sacrifice speed. If you want or need immediate access to your funds and do not care so much about fee’s, Coinbase is probably your better choice.
At Coinbase you can also sell your Bitcoin for US dollars and then transfer the funds to your checking account. With Coinbase the transfer has always been in our checking account the next day as long as it was requested by Noon the prior day. Another way to access your funds at Coinbase is by transferring the funds to your PayPal account. When transferring to your PayPal account it is instant and the funds are in your PayPal account immediately. If you then have a PayPal debit card you can withdraw your funds immediately at an ATM or transfer the funds to a checking or savings account. Fees at Coinbase are substantially higher, and the fee depends on the amount of Bitcoin you are selling.
In short, if you want faster access to your funds, Coinbase is your best option but is more expensive. If you do not need immediate access and can wait a few days to receive your funds, Kraken is probably the better choice with lower fees. See more about each exchange by visiting the Kraken website or the Coinbase website. Then once you open and fund your Bitcoin wallet, see the best USA online casinos for making Bitcoin deposits. You can be playing at the best USA live dealer casinos and enjoying live dealer games online anytime the urge strikes.