Kraken vs Binance: Security
In terms of security, here's what you need to know. Both of the platforms live up to strict standards when it comes to the KYC (Know Your Customer) procedure.
Binance does not disclose any security measures but has stated that only a small portion of the cryptocurrencies are held in hot wallets, while the rest are kept in cold storage - not connected to the internet.
On the other hand, Kraken has several security measurements that aim to heighten the level of security. To be more specific, they hold 95% of all of the deposits in cold storage, geographically distributed throughout different regions.
Moreover, Kraken even performs tests on their security measures. They even have a bounty-hunting program, where developers are rewarded for finding bugs and security vulnerabilities. On top of these, Kraken regularly contracts third parties to do proof-of-reserves audits.
When it comes to security, which should be one of the main concerns of any crypto trader, the winner is Kraken.