Crypto.com vs. Coinbase – Forbes Advisor

Crypto.com and Coinbase are two popular cryptocurrency trading platforms. Both offer affordable and available ways to buy, sell and transfer crypto.

In this review, we will explore the similarities and differences between the two platforms and details that are best for different types of investors. That way, you can decide which one is right for you.

Crypto.com vs. Coinbase: similarities

Crypto.com and Coinbase were designed with crypto investors in mind. As a result, they have very similar structures and offer similar investment layouts and experiences.

KYC requirements

As online trading platforms that handle users’ sensitive information, Crypto.com and Coinbase have requirements for Know Your Customer (“KYC”).

These requirements mean that both platforms collect certain pieces of information about people who use their platforms. Crypto.com and Coinbase use technology to verify users’ identities before they can use the platforms to buy, sell or transfer crypto. Although the specific data points they collect may vary slightly, it is largely the same information.

Negotiable coins

Coinbase and Crypto.com offer investors access to more than 150 cryptocurrencies.

Crypto.com gives investors access to the top 10 coins by market value, while Coinbase offers access to all the top coins except Binance Coin (BNB) and XRP.

Fees

Coinbase and Crypto.com use a manufacturer-taker fee structure, which involves paying a fee that varies based on the size of the transaction and whether your order generates or reduces liquidity for a particular cryptocurrency.

Overall, Crypto.com is cheaper for receiving fees. Coinbase has a layered structure for how maker / taker fees are charged. For example, a price level of $ 0 to $ 10,000 on Coinbase is associated with a 0.6% taker and 0.4% producer fee. The next level up, $ 10,000 to $ 50,000, can incur 0.4% taker and 0.25% maker fee.

For trades of $ 25,000 or less on Crypto.com, the producer / taker fees are 0.4% respectively.

Here’s how the producer / taker fee structure works. If you place an order and there is not already an existing order that can be matched with yours to complete the transaction, it requires you to pay a “maker” fee because you create liquidity in the market. If, on the other hand, your order can easily be matched with an existing market order, it will lose liquidity and incur a “taker” fee.

Trading tools and features

Crypto.com and Coinbase offer intuitive dashboards that allow users to trade different cryptocurrencies.

In addition, both platforms also offer a variety of tools and other features, including:

• The ability to do additional trading functions, such as border and stop orders.
• Volume discount.
• A crypto wallet that gives users control over their private keys
• The ability to bet coins for interest and / or rewards.

Crypto.com vs. Coinbase: Differences

Although there are many similarities between Crypto.com and Coinbase, there are also several differences. The two platforms both pay interest on crypto held on the platform, but the prices vary. There are also different opportunities for reward.

Geographical availability

Both platforms are available in 49 states. Crypto.com is still considering the steps needed to offer its services in New York, while Coinbase is awaiting approval in Hawaii.

Ease of use

Coinbase is extremely easy to use. Investors in the United States can sign up in just a few minutes and fund transactions instantly when connecting to a bank account, debit card or PayPal account.

The system makes it easy for users to find and buy crypto, check their portfolios or watch videos to earn free crypto.

Crypto.com is also quite easy to use. However, the system offers additional features, such as futures trading and volume discounts, which are generally well suited for more experienced investors. Both Crypto.com and Coinbase also allow users to bet certain tokens.

Crypto.com pays users up to 14.5% per annum in interest – some of the highest available rates. As of this writing, $ 1000 of the Cardano (ADA) bet locked for three months would give you $ 20 or 2% on Crypto.com.

Coinbase allows users to earn bet rewards of up to 5.75% on selected coins, such as Ethereum (ETH), Algorand (ALGO) and ADA, to name a few. For example, users can earn up to 2.6% annual percentage return on their ADA.

Who should choose Crypto.com?

Crypto.com has lots of features. The platform offers access to more than 250 cryptocurrencies, including several top coins that Coinbase does not support.

With so many features, Crypto.com can be a little harder to use, so it’s generally better for investors who already have some experience trading crypto.

Crypto.com pro

• Over 250 cryptocurrencies available to US traders, including all 10 top coins by market value
• High annual percentage return for effort rewards.
• Lower trading fees than Coinbase.

Crypto.com Disadvantages

• Chatbot / virtual assistant support is available but can be slow.
• Educational resources are not readily available.

Who should choose Coinbase?

Coinbase is a much simpler platform than Crypto.com, with a far less complicated trading dashboard. This simplicity makes Coinbase a better bet for people who are new to cryptocurrency, while more experienced traders may prefer Crypto.com.

Coinbase proffer

• Simple trading dashboard that is easy to use.
• Easy buying process.
• Low account.
• Several types of customer service are available, from chatbot to telephone support.

Coinbase Cons

• Coinbase’s fees are slightly higher than Crypto.com.
• You have to pay a subscription fee to get lower trading costs.