Crypto.com vs Coinbase – A Comparison

When people get into cryptocurrency trading, their focus is on finding the best cryptocurrency there is. Not only do they have to look for a good and trustworthy platform, but they also need to find something that offers the particular coin they wish to trade.

Two of the most popular crypto exchange platforms out there are Coinbase and Crypto.com. But which one is the better option between Crypto.com vs Coinbase? If you’re confused regarding which one to go for, this article will help you choose.

Crypto.com vs Coinbase: Overview

First things first, let’s look into each crypto exchange platform and see what makes them unique.

What Is Crypto.com?

Crypto.com is a trusted cryptocurrency exchange platform that was established in June 2016. The exchange is a trademark of Foris DAX Asia Pte. Ltd and also a subsidiary of Foris DAX MT (Malta) Limited. At the moment, the platform has 3,000 employees, as well as 10 million users.

Although at first Crypto.com was founded by Gary Or, Bobby Bao, Rafael Melo, and Kris Marszalek, the company bought the naming rights from Staples Center. They had to pay about $700 million in order to be able to change the name to Crypto.com Arena and use it for 20 years. According to them, the change will occur on December 25, 2021.

On Crypto.com, clients have the opportunity to buy and sell different cryptos. The platform offers various currencies so everyone can select the ones they are interested in.

Cryptocurrency credit cards are also available, as well as a crypto wallet, a decentralized exchange, and an NFT marketplace. If you want to stake their crypto, you can also do that. Holding the crypto in your wallet for a certain amount of time will also allow you to earn up to 14.5% in interest.

Crypto.com is amazing for people who want to buy cryptos like Ethereum and Bitcoin, as well as hold these currencies. At the moment, the platform supports 150 currencies and also allows people to trade crypto futures, which is great.

What Is Coinbase?

Coinbase is a crypto exchange platform with 9 years on the market, as it was founded in June 2012. The platform was founded by a former Airbnb engineer named Brian Armstrong, but Fred Ehrsam was also part of the establishment.

The company has no physical headquarters and based on trading volume, it was considered the largest crypto exchange in the United States as of March 2021. Later, in April 2021, the platform went public via a direct listing on the Nasdaq exchange.

Coinbase is great as it has more than 100 cryptocurrencies available to buy, sell, and trade, including Ethereum, Bitcoin, and Dogecoin. What’s more, Coinbase has $255 billion of assets on its platform, as well as more than 73 million users.

People who use Coinbase love it mainly thanks to its simple interface and navigation. Both beginners and advanced traders can use it without any issues. Also, those who are pros at crypto trading could get Coinbase Pro, which offers them access to some extra features and order types.

What’s the Difference?

Between the two platforms, Coinbase is the better option for beginners, specifically those who have little to no experience with cryptocurrencies. It is easy to start trading with it, and people can also buy crypto for the first time and set up recurring purchases.

Meanwhile, Crypto.com is geared towards more experienced traders mainly because of its complicated interface. The navigation would be difficult for anyone at first, but beginners are especially vulnerable when it comes to this.

Not to mention that Crypto.com offers more than the opportunity to buy and sell crypto – this is why pro traders love the platform.

That is not all, though. Coinbase also has more experience on the market, but it has a smaller currency selection. It has much higher fees, and the features are quite limited.

Key Features Compared

Crypto.com and Coinbase surely share a few similarities. After all, they both have the same purpose. At the same time, they are different platforms and will have their differences, and it’s important to be aware of them if you want to use one or the other. Here are comparisons between some of their key features.

Fees

When you are using a cryptocurrency exchange, you should usually expect some fees. Fees generally apply when people make deposits, withdrawals, or trades, and they are different on each platform. They are based on location, crypto, amount, and payment method.

Coinbase and Crypto.com charge fees when you want to make payments using a credit or a debit card, but they do not charge anything for bank transfer deposits. There is a downside, though.

Coinbase is not exactly upfront about its cryptocurrency trading fees. While it says that fees are calculated when you make the order, the maker/taker fees are not published like they are on other similar platforms. Coinbase Pro makes fees lower and more transparent, though.

In terms of trading fees, Coinbase only shows how much you pay for the withdrawal when you make the transaction. While transferring money to a Coinbase wallet is free, you have to pay a certain fee if you wish to transfer your crypto assets to another wallet.

With Crypto.com, you will have a maker/taker fee of 0.4%, as well as a 2.99% fee to use a debit card. Higher trading volume customers will get a fee reduction, and the same goes for people who stake CRO, the Crypto.com coin. New customers get their credit/debit card fee waived during the first 30 days, though.

Also, Crypto.com always has the fees for every cryptocurrency published, and moving assets to the Crypto.com wallet is free.

Currencies

U.S. customers who use Crypto.com have around 140 cryptos available, whereas those who use Coinbase have around 90.

The majority of the 30 cryptos by market cap are offered by both exchanges. However, some coins are not available in all U.S. states. Also, Coinbase doesn’t trade VeChain, Avalanche, and Binance Coins.

Security

Both Crypto.com and Coinbase care about people’s safety when trading cryptos, and they offer certain security features.

100% of Crypto.com’s funds are kept in cold storage, while 98% of Coinbase’s are in the same situation. Both of them have multi-factor authentication and bug bounty.

Also, Coinbase has $255 million in insurance against crime or hot wallet theft, whereas Crypto.com has $360 million in cold storage insurance against crime or theft. Moreover, both offer FDIC insurance for U.S. funds for people from the U.S.

Wallet

The platforms also offer wallets to customers, and both support a lot of cryptos. But staking coins is easier with Crypto.com.

Also, Coinbase’s crypto selection is not as broad as Crypto.com’s. People can swap coins on decentralized exchanges through the Crypto.com app, but this isn’t available for people from the U.S.

With Coinbase, though, customers are able to access the decentralized trading service, but it only applies to coins based on Ethereum.

Transactions Supported

Crypto.com and Coinbase have the same transactions, respectively buy, sell, send, receive, withdraw and exchange.

Trading Limits

Coinbase’s trading limits vary based on the region and payment method. Meanwhile, on Crypto.com there is a limit of $1 million or 30 trades per month.

Read More

• How to Make Money with Cryptocurrency
• How to Withdraw from Binance
• How to Transfer From Coinbase to Coinbase Pro
• How to Transfer from Coinbase to Binance
• How Does Cryptocurrency Gain Value?
• How to Read Crypto Charts

Final Thoughts

It can be tough trying to decide between Crypto.com vs Coinbase as both are amazing in their own ways. But if you consider the comparisons here, you should be able to see the pros and cons and make the best pick.

Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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