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As online cryptocurrency exchanges, Crypto.com and Coinbase both allow registered users to buy, sell and trade various cryptocurrencies while offering digital wallets to help ensure users’ security. However, some individual investors may find it hard to decide which platform best fits their unique circumstances. Comparing and contrasting the pros and cons of Crypto.com versus Coinbase helps make that decision easier.
What Is Coinbase?
Coinbase is an online cryptocurrency exchange platform serving more than 89 million users in over 100 countries. Registering and maintaining an account on Coinbase is free, but there are fees when buying, selling and investing in cryptocurrency. While the platform does not disclose its fees up front, users are notified of all charges before transactions are finalized.
What Is Crypto.com?
Crypto.com is another online exchange platform with over 10 million users in 90 countries — all buying, selling and investing in cryptocurrency. However, Crypto.com claims that it is the only platform that offers crypto “at true cost” to its registered users. In addition, Crypto.com provides a wide range of rewards to loyal users, including credit cards with no annual fees.
How Do Crypto.com and Coinbase Compare on Features?
Both Coinbase and Crypto.com offer their users the same basic services — the opportunity to buy, sell and trade in cryptocurrencies along with digital wallets for storing crypto and NFTs.
Crypto.com offers customers the chance to buy over 250 different forms of cryptocurrency using more than 20 different fiat currencies, while Coinbase is a little more limited in variety with around 100 different cryptocurrencies available.
However, Coinbase still allows customers to explore a range of digital assets from well-known cryptocurrencies like Bitcoin and Ethereum to less widely known assets like shiba inu and MINU.
Good to Know
Crypto.com and Coinbase each have their own native tokens: Cronos and USD Coin, respectively.
How Do Crypto.com and Coinbase Compare on Rewards?
While both platforms offer rewards, Crypto.com offers cash back rewards, while Coinbase provides incentives for new customers interested in learning more about cryptocurrencies.
Crypto.com offers customers the chance to earn up to 14.50% in cash rewards for a maximum of $400 per year in return for allocating certain cryptocurrencies in their portfolios. Depending on the cryptocurrency, users will get a higher or lower percentage of cash back.
Crypto.com users can earn up to 8% in cash back rewards through its credit cards, and there’s an array of credit cards tailored to meet different customer needs. In addition, depending on the card, users may be eligible for staking benefits or discounts at companies like Netflix, Spotify, Amazon and Expedia.
Coinbase gives $5 in bitcoin to qualified new users after engaging in their first trade. Furthermore, Coinbase offers a Visa credit card where users can earn as much as 4% back in crypto rewards.
How Do Crypto.com and Coinbase Compare on Customer Advice?
Crypto.com and Coinbase significantly differ here. For example, Coinbase offers tutorials, educational incentives and investment information, whereas Crypto.com does not. This may give Coinbase the advantage of attracting new investors to cryptocurrency who need help getting started.
Coinbase provides its registered users with “trading signals,” which are up-to-date figures about the trading volume of different cryptocurrencies.
Coinbase trading signals include:
- Top holder activity: This is a figure that looks at the recent trading activities of the Coinbase customers who’re holding a significant amount of a particular asset. The signal is updated every two hours, allowing users to see how people with a major stake in a particular cryptocurrency are behaving.
- Typical hold time and popularity of different cryptocurrencies: This is the median length of time measured in days in which Coinbase customers can hold on to a particular digital asset before either selling it or passing it along to another crypto user.
- Price correlation: Every 24 hours, this signal compares how different cryptocurrency prices change respectively to each other.
Lastly, Coinbase offers investment insights, basic guides and trading tips for new customers who are still learning how crypto works.
How Do Crypto.com and Coinbase Compare on Fees?
Coinbase offers users two different wallets at no charge: the USD Wallet and the Hosted Cryptocurrency Wallet. Transferring crypto between the Coinbase wallets is also free. However, Coinbase will charge fees for any transactions that involve moving cryptocurrency off its platform. The amount that the user has to pay varies and is only disclosed at the time of the transaction.
Although Coinbase customers pay fees when buying, selling or converting cryptocurrencies, the fee structure can be difficult to understand. Coinbase does not announce the structure up front. Instead, the site calculates fees when customers place their orders. Fees are determined by several factors, including the payment method, the amount of cryptocurrency being purchased and market conditions. Coinbase will notify users about the fees before finalizing transactions.
Crypto.com charges its registered users a fee whenever they trade in cryptocurrency. Users are subject to “maker” and “taker” fees — which are incurred fees when users place or fill an order for cryptocurrency — ranging from 0.04% to 0.40%.
How Do Crypto.com and Coinbase Compare on Security?
Crypto.com and Coinbase both share similar security methods:
- Screen all deposits to meet their security standards.
- Hold users’ cryptocurrency offline in cold storage so that it cannot be accessed by would-be thieves.
- Require users to employ multi-factor authentication on their accounts.
However, Coinbase and Crypto.com each take their security measures a step further:
- Coinbase has additional security tools, like the Coinbase Vault and Address Book, at no additional user charge.
- Crypto.com’s security software is peer-reviewed.
Final Take: Crypto.com or Coinbase?
Which cryptocurrency exchange is best depends on what users are looking for in a platform.
Crypto.com may be more appealing to more experienced crypto investors, with its impressive variety of cryptocurrencies available, upfront fee structure and cash rewards program.
Coinbase offers more to the new crypto investor with its range of educational material and frequently updated trading signals. However, its fee structure is more difficult to understand and fees are often not disclosed until near the completion of a transaction.
Amber Barkley contributed to the reporting for this article.
Editorial Note: This content is not provided by Crypto.com or Coinbase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Crypto.com or Coinbase.