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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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Coinbase vs Crypto.com in comparison
Overview
- Very easy to use
- Beginner friendly
- Listed company
- Coinbase Pro for trading
- Slightly higher fees
- Easy handling
- Crypto credit cards
- Earn interest on crypto
- Regulatory uncertainty
Features Comparison
- Cryptocurrencies
- Cryptocurrencies
1.49
%
2.00%
2.00%
₿
0.000079
0.4
%
0.08%
0.08%
₿
0.0005
220
+
$
2
250
+
$
1
- Cashback program
- Discount on fees
- Earn interest through staking
- Further advantages & features
Exchange Rating
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Functions
- Spot, futures trading options
- Coinbase Card
- Coinbase Wallet
- Crypto.com Visa Card
- Earn interest on crypto
- NFT marketplace
Company Details
Deciding Between Coinbase vs Crypto Com: Your Optimal Guide 2024
When it comes to choosing a cryptocurrency exchange, the ‘Coinbase vs Crypto com’ debate is a crucial one for many investors. This article provides a head-to-head comparison of the two platforms, focusing on essential factors such as fees, security, user experience, supported currencies, and more. Decide which exchange suits your needs without wading through unnecessary information.
Key Takeaways
- Coinbase and Crypto.com are both competitive crypto exchanges with differences in fee structures, security protocols, and user experiences, with Crypto.com generally offering lower fees and more staking rewards while Coinbase provides a more beginner-friendly platform with educational incentives.
- Both exchanges offer a variety of payment and withdrawal options, advanced trading tools, mobile app accessibility, and support a wide range of cryptocurrencies, but they differ in geographic availability, trustworthiness, and reputations with regulatory bodies like the SEC.
- Coinbase is suited for beginners due to its educational resources and simplicity, while Crypto.com caters to more experienced traders with its wider range of supported cryptocurrencies, DeFi services, and lower fee incentives.
Comparing Coinbase and Crypto.com: Key Factors
Coinbase and Crypto.com, two leading crypto exchanges, share similar structures, offering comparable line-ups and user experiences. However, the devil is in the details. We’ll examine these platforms based on several important aspects such as:
- Fees
- Security
- User experience
- Supported currencies
Fees
Costs, such as trading fees, can significantly impact your earnings in crypto trading. Both Coinbase and Crypto.com utilize a maker-taker fee structure that adjusts variable fees based on transaction size and the liquidity impact of the trade. While Coinbase’s maker fees range from 0.00% to 0.40%, and taker fees from 0.05% to 0.60%, Crypto.com offers lower maker fees from 0.0% to 0.075%, and taker fees from 0.05% to 0.075%. This makes Crypto.com a more cost-effective option for low-volume traders.
Further sweetening the deal, Crypto.com offers a ‘true cost’ program enabling 0% fees on the initial credit/debit card transactions within the first 30 days of account opening. Moreover, both platforms offer free ACH transfers, with a minimum transfer requirement of $20 for Crypto.com, while Coinbase does not specify a minimum.
Security
In the realm of digital assets, security holds significant importance. Both Coinbase and Crypto.com employ a range of security measures, including multi-factor authentication, cold storage of assets, and insurance policies to ensure the safety of users’ funds. With a focus on security, crypto platforms like Coinbase take it a notch higher by storing 98% of cryptocurrency assets in cold storage, protecting them from unauthorized online access.
Furthermore, Coinbase provides users with an option to manage their own private keys through its stand-alone wallet service. This means that users have full control over their crypto assets, adding another layer of security.
User Experience
The reputation of a platform heavily relies on its user experience. Coinbase offers a quick sign-up process and a user-friendly platform catering to both beginners and advanced users. The platform provides educational materials and investment information, easily accessible through their website. On the other hand, Crypto.com provides a user-friendly mobile application with high average ratings on both iOS and Android, a minimum trade requirement as low as $1 for Bitcoin, and a focus on serving mobile-first users and transactions with fiat currency.
Moreover, both platforms offer educational resources. Coinbase has an edge here as it provides cryptocurrency rewards to users who engage with their learning materials about blockchain and different tokens. This makes Coinbase an ideal platform for beginners who want to learn more about cryptocurrency trading.
Supported Currencies
A platform’s appeal to users can be significantly influenced by the variety of supported currencies. Both Coinbase and Crypto.com offer a large selection of cryptocurrencies, with each crypto platform supporting more than 150 different coins for trading. However, Crypto.com supports more than 250 cryptocurrencies, while Coinbase has a slightly larger selection, offering more than 260 cryptocurrencies for trading.
When comparing crypto.com vs Coinbase, it’s important to note that Crypto.com provides access to all of the top 10 coins by market cap, while Coinbase offers access to all top coins except for Binance Coin (BNB) and XRP. This difference in accessibility allows users to consider their options when choosing a platform for trading. This makes both platforms suitable for users interested in trading mainstream cryptocurrencies.
Trading Features and Tools: Coinbase vs Crypto.com
When it comes to trading features and tools, both Coinbase and Crypto.com have their unique offerings. We’ll explore their advanced trading options, staking rewards, and DeFi services in more detail.
Advanced Trading Options
The trading experience can be significantly amplified by advanced trading options. Here are some examples:
- Coinbase offers advanced trading options through Coinbase Pro and staking services, subject to country-specific restrictions. Additionally, coinbase advanced trade features are available for users seeking more sophisticated trading strategies.
- Crypto.com offers futures trading, a feature that appeals to experienced investors.
- Crypto.com provides volume discounts, which are beneficial for investors with a high trading volume.
Both platforms provide additional advanced trading options such as margin trading and limit orders. These features enable users to leverage their positions and set their desired buying or selling price, providing flexibility and control over their trades.
Staking Rewards
Many users find the feature of staking coins for interest or rewards appealing. Both Crypto.com and Coinbase offer staking rewards on various cryptocurrencies. On Coinbase, users can earn up to 5.75% APY on Ethereum (ETH), Algorand (ALGO), and Cardano (ADA), as well as 0.15% APY on USD Coin (USDC).
Crypto.com, however, trumps Coinbase in this aspect. It provides crypto rewards such as:
- Up to 14.5% per annum in interest for staked cryptocurrencies
- Up to 10% on stablecoins
- Additional staking rewards and benefits through their native CRO token
Thus, Crypto.com is a preferable platform for users looking to maximize their investment returns through staking.
DeFi Services
The crypto world has been revolutionized by DeFi services. Both Coinbase and Crypto.com offer DeFi services through their respective wallet applications, allowing users to engage directly with DeFi protocols. Crypto.com provides a token-swapping service in its DeFi Wallet app, while Coinbase facilitates token swaps through the Coinbase Wallet.
Interestingly, Coinbase charges a 1% conversion fee for wallet-based token swaps, whereas Crypto.com does not impose any fee for wallet conversions. Moreover, the non-custodial DeFi Wallet from Crypto.com offers users enhanced security and control over their funds, catering to those seeking additional safety features.
Geographic Availability and Accessibility
A platform’s user base can be significantly impacted by its geographic availability and accessibility. Coinbase is accessible in over 100 countries globally, while Crypto.com serves users in 49 states in the U.S. However, Coinbase is awaiting approval in Hawaii to offer its full range of services and restricts access in countries sanctioned by the Office of Foreign Assets Control (OFAC), including North Korea, Iran, Syria, and Cuba.
When it comes to fiat currency support, both Coinbase and Crypto.com support several popular fiat currencies such as USD, EUR, GBP. Crypto.com, in fact, supports a total of 21 fiat-supported currencies, providing users with extensive flexibility and ease of trading in both traditional and currencies crypto.
Payment Methods and Withdrawal Options
Any trading platform’s vital aspects include payment methods and withdrawal options. Coinbase allows U.S. customers to use a variety of payment methods including:
- Bank transfers
- Debit cards
- Wire transfers
- PayPal
- Apple Pay
- Google Pay
Each payment method offers its own benefits. For instance, bank transfers via ACH on Coinbase can be used for both large and small investments; these transactions can take 3-5 business days. Debit cards provide instant transaction speed, suitable for small investments and withdrawals.
On the other hand, Crypto.com offers the following fees and features:
- 2.99% fee for debit/credit card transactions
- Free wire transfers with a minimum transfer amount of $1,000
- Prepaid Visa Card linked to the app, which awards cashback in CRO tokens and enables customers to spend their crypto assets.
Trustworthiness and Reputation
When choosing a crypto exchange, trustworthiness and reputation are key considerations. Coinbase and Crypto.com have both been given an F rating by the Better Business Bureau. This indicates a low level of satisfaction in their customer service and business practices. Furthermore, Coinbase is currently under investigation by the SEC and has agreed to pay a $50 million penalty in a settlement with the New York State Department of Financial Services.
Despite these issues, Coinbase is often chosen by users who value a trusted brand with a strong reputation in the cryptocurrency space. It’s critical for users to conduct their own due diligence before choosing a platform for their crypto trading needs.
Mobile Apps: Coinbase vs Crypto.com
Given the mobile-first world we live in, a user-friendly and feature-rich mobile app is a must-have. The Coinbase mobile app offers:
- A user-friendly interface
- Educational content tailored for beginners
- Real-time cryptocurrency price tracking
- Secure login options
- The ability to trade, set price alerts, and schedule recurring buys right from your smartphone.
On the other hand, Crypto.com’s mobile app provides a user-friendly experience with features such as:
- an in-app wallet
- card services
- various trading options
- support for over 250 cryptocurrencies
Both the Coinbase and Crypto.com mobile apps are compatible with iOS and Android devices, ensuring a broad user base can access their services on the go.
Who Should Choose Coinbase?
Thanks to its user-friendly design and educational programs like Coinbase Earn that reward users for learning about cryptocurrencies, Coinbase is an excellent platform for beginners. The benefits of using Coinbase include:
- User-friendly design
- Educational programs like Coinbase Earn that reward users for learning about cryptocurrencies
- Simplicity and straightforward buying and selling processes
- Attractive for users who prioritize ease of use
Moreover, Coinbase offers a curated selection of over 260 tradable Coinbase crypto assets, focusing on popular and widely recognized coins, appealing to users who prefer trading mainstream cryptocurrencies.
Who Should Choose Crypto.com?
Alternatively, experienced traders may lean towards Crypto.com because of its comprehensive services, including investing in a wide range of cryptocurrencies and NFTs, access to DeFi services, and token-swapping services. Crypto.com is considered more affordable and cost-effective, with generally lower costs compared to Coinbase, making it attractive for users seeking lower fees.
Moreover, users interested in a wider range of currencies and DeFi services will find Crypto.com a preferable platform as it supports a diverse array of cryptocurrencies and offers user-friendly access to DeFi services.
Summary
In conclusion, both Coinbase and Crypto.com are robust platforms that offer a wide range of cryptocurrencies, user-friendly interfaces, and advanced trading options. However, there are key differences that may appeal to different types of users. Coinbase is ideal for beginners due to its user-friendly design and educational resources, while Crypto.com caters to more experienced users with its wider array of cryptocurrencies, lower fees, and advanced trading features. Ultimately, the choice between Coinbase and Crypto.com depends on a user’s specific requirements and preferences.
Frequently asked Questions
There are several common questions that users often have about Coinbase and Crypto.com. For instance, does Coinbase charge for storing cash and supported cryptocurrency in a user’s primary balance? The answer is no. Coinbase does not charge for storing cash and supported cryptocurrency in a user’s primary balance or for transferring crypto between Coinbase user’s primary balances.
Another common question is, are there any fees for sending cryptocurrency from a Coinbase wallet to another wallet? Yes, when sending cryptocurrency from a Coinbase wallet to another wallet, a network transaction fee based on the prevailing network fees is charged, and all fees are disclosed at the time of the transaction.
What about using the Coinbase Card for purchases? Is there a transaction fee? No, using the Coinbase Card for purchases does not incur transaction fees, but ATM operator fees may apply.
Are there fees for staking and unstaking on Coinbase? There are no fees for staking and unstaking on Coinbase, but Coinbase takes a commission based on the reward, with a standard rate of 35% for certain cryptocurrencies and 26.3% for eligible Coinbase One members.
Lastly, what happens if unsupported cryptocurrency is sent to a Coinbase account? If unsupported cryptocurrency is sent to a Coinbase account, a recovery attempt may incur a network fee and a 5% recovery fee on the amount over $100, if the estimated value of the recovery is over $100.
Is Crypto com or Coinbase better?
Coinbase has a higher overall score of 9.1 compared to Crypto.com's score of 6.1, making Coinbase the better option.
Is crypto com shutting down?
Yes, Crypto.com is shutting down its institutional exchange services in the United States effective June 21, due to low demand from large financial institutions.
Is crypto com trustworthy?
Yes, Crypto.com is trustworthy due to its comprehensive security measures, including advanced MFA and substantial insurance coverage to protect user funds and assets.
Does Coinbase charge for storing cash and supported cryptocurrency in a user's primary balance?
No, Coinbase does not charge for storing cash and supported cryptocurrency in a user's primary balance or for transferring crypto between Coinbase user's primary balances.
What happens if unsupported cryptocurrency is sent to a Coinbase account?
If unsupported cryptocurrency is sent to a Coinbase account, a recovery attempt may incur a network fee and a 5% recovery fee on the amount over $100. So, it is important to ensure you are sending a supported cryptocurrency to avoid these fees.
About the author
Ethan is the go-to crypto guru at Exchange Flow, with nearly a decade steering traders through crypto exchange platforms worldwide, Ethan brings welcome clarity to the complex terrain of digital currencies. His hands-on approach to testing and analyzing exchanges worldwide makes his reviews and articles valuable information for readers and newcomers in the crypto world. Beyond his crypto expertise, Ethan is a retro gaming enthusiast and an explorer at heart, using his crypto gains to fuel adventures around the world. Dive into Ethan’s articles and reviews for a global perspective on cryptocurrency that’s as enlightening as it is engaging.
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