Coinbase vs Crypto.com

Coinbase and Crypto.com are two centralized exchanges designed to provide crypto enthusiasts with a viable investment platform. It is, however, important to note that while both platforms offer different services, there is a significant difference.

Coinbase is ultimately a beginner-friendly platform with an interactive user interface. While Crypto.com has incredible features like Coinbase, it comes up short for beginners.

Starting your crypto journey can be overwhelming, but the Coinbase platform has been optimized to support new and existing users. Crypto.com, on the other hand, was designed for crypto investors and offers diverse financial opportunities and rewards for staking their assets.

Coinbase and Crypto.com are two of the top centralized exchanges, with both platforms having several similarities. A fine line, however, separates them, and this guide provides an insight into the features and components of both platforms.

This guide would also equip new and old crypto investors with the information they need to decide which platform best suits their financial journey.

In this guide, we will carefully examine Coinbase and Crypto.com along the lines of security, features, customer support, fees, perks, and tradable assets, among others. We’ll also shed some light on the business model of each platform to guide your decisions.

Coinbase and Crypto.com Compared

Coinbase vs Crypto.com: Fees

Coinbase and Crypto.com have fairly decent fees for the various services they offer. Both platforms offer different advantages depending on the user’s preferred investment plan. The table above shows the fees chargeable based on market conditions, transaction type, transaction size, and payment method.

Trading Fees

Coinbase Advanced Trade and Crypto.com Exchange both employ a maker-taker fee structure, with lower fees for higher 30-day trading volumes. Crypto.com users can also stake CRO (Crypto.com’s native token) to enjoy additional trading fee waivers.

Instant Buy and Conversion Rates

Coinbase and Crypto.com offer users an opportunity to purchase assets instantly. The fees can vary during instant purchases due to several factors, including volume, payment method, asset type, and other market conditions. Coinbase charges a 1% flat fee on Crypto to Crypto conversions.

Crypto.com, on the other hand, charges lesser fees on Crypto to Crypto conversions — as low as 0.00%.

Inactivity Fee

Coinbase is one of the exchanges that doesn’t charge any fee on inactive or dormant accounts. However, Crypto.com charges a monthly fee after 12 months of inactivity. A $4.95 monthly fee will be charged to a user’s account from the 13th month of inactivity. This fee affects all cardholders until they initiate a financial activity that stops the charges and resets for another 12 months.

Deposit and withdrawal fees

Deposit and withdrawal fees vary on both platforms. While Coinbase charges 0-$10 on fiat deposits, Crypto.com operates a zero-fee deposit. The table below gives a proper insight into the fees associated with the deposit and withdrawal of fiat on both platforms.

Winner: Overall, Crypto.com is better when it comes to fees and transaction charges. Although both platforms are similar in some transactions, like ACH deposit and domestic wire transfer withdrawal charges, Crypto.com offers a better rate with respect to maker and taker fees per transaction.

Coinbase vs Crypto.com: Features

Trading tools

Powered by TradingView, Coinbase has tools that can take your analysis to the next level with advanced charting tools. Leverage EMA, MA, MACD, RSI, Bollinger Bands, custom drawing tools, and more are all available for users to make informed financial decisions. Overall, there are 104 market indicators to help you make informed financial decisions on Coinbase.

Crypto.com’s platform supports the investor more than the trader, and it’s nowhere near Coinbase in terms of trading resources. However, Crypto.com offers more in terms of holding your assets for rewards rather than trading them regularly. Crypto.com also offers some level of advance trading in jurisdictions where the Crypto.com Exchange is available, which includes stop and limit orders, API and trading bots.

Staking

Both Coinbase and Crypto.com support staking assets to earn rewards. However, it is important to mention that after a thorough analysis of both, Crypto.com beats Coinbase as the better staking platform.

Crypto.com offers staking rewards of up to 14.5% for 21+ coins, while Coinbase allows users to earn staking rewards of up to 5.75% on a few coins, such as Ethereum (ETH), Algorand (ALGO), and Cardano (ADA), among others.

Wallets

Coinbase and Crypto.com have custodial wallets for users to hold and trade their assets. Both platforms also provide multifactor authentication for enhanced security. Address whitelisting is also an option for users to explore.

In addition to its digital wallet, Crypto.com offers several DeFi services, including a non-custodial DeFi wallet. Coinbase, on the other hand, has a Web3 wallet that gives users access to several Dapps. The exchange also provides insurance against hot wallet theft or crime. For U.S. customers, there’s FDIC insurance for U.S. dollar funds.

Educational Resources

When it comes to resources to help users stay up-to-date with market trends, news, and how-tos, Coinbase sits at the top. The platform’s closest rival in that category is Binance. Crypto.com also boasts some educational resources, but there is a daylight difference regarding what’s obtainable.

From advanced concepts and terminologies to news that affects the market, Coinbase is clearly the favorite.

NFT Support

Coinbase and Crypto.com both support NFT trading. While Coinbase recently launched its NFT market to keep up with blockchain trends, Crypto.com’s NFT marketplace is one of the market’s best. These assets offer a different opportunity to make money on the blockchain.

Coinbase Unique Features

Advanced Trading Tools

One crucial advantage that Coinbase provides is that it allows its users to trade on multiple platforms. The original Coinbase platform enables users to purchase cryptocurrency using U.S. dollars, offering a straightforward interface.

To enhance its classic interface, Coinbase has introduced Advanced Trade, which incorporates some of Coinbase Pro’s functionality and lower costs. These advanced trading tools improve users’ decision-making for better returns.

Instant Withdrawals

Users on Coinbase can withdraw crypto instantly after purchasing it with fiat. While most platforms wait for the transaction to clear, Coinbase offers a quicker processing time. This feature provides a significant advantage, especially for users who prefer moving their assets to decentralized exchanges and cold storage units.

Learn to Earn

Coinbase blazed a trail by providing a unique earning opportunity to blockchain users. Learning materials such as videos are available, and simply watching them can earn users rewards in the form of cryptocurrencies. A short quiz may be required to ascertain the eligibility of the user to claim these rewards.

Web3 Integration

The Coinbase Web3 feature allows users to access Dapps through the platform. 1inch, Galaxy, Uniswap, OpenSea, and Paraswap, to name a few, are Dapp options available on Coinbase. Builders also have an opportunity to feature their Dapps on the platform, exposing their projects to millions of customers.

Crypto.com Unique Features

Staking

Both platforms offer staking opportunities, but their rewards vary. The high percentage of staking rewards available on Crypto.com is one of the market’s best. The platform pays users up to 14.5% per annum in interest, which is nearly three times what users can get on Coinbase, which offers 5.75%. Regarding staking, Crypto.com is one of the market’s best exchanges and it also rewards users who stake their native token (CRO).

While the coins available for staking on Coinbase are limited, Crypto.com has over 40+ tokens for staking.

Trading Discounts

Crypto.com was specifically designed for those looking for an affordable one-stop cryptocurrency shop. The platform offers a trading discount for users who stake its native token. If you’ve staked 5,000 CRO or more and pay in CRO on the exchange, you are automatically qualified for a 10% trading discount. That means 0.36% is the maximum amount to pay for trading.

Cashback

Crypto.com offers a prepaid Visa card similar to a rewards debit card. The Visa card allows users to spend their crypto holdings easily. Crypto.com offers five prepaid Visa Cards that can be used anywhere that accepts Visa. Users only need to top up these cards to use them. The top-of-the-range Obsidian card earns users a 5% cash back on their card purchases, while the Ruby Steel card also earns holders a 1% cash back.

Winner: Coinbase and Crypto.com have unique features that make their duel too close to call. While one platform provides you with resources and advanced trading tools, another offers users numerous rewards.

Coinbase vs Crypto.com: Supported Currencies

When it comes to available options in terms of assets to trade, both Coinbase and Crypto.com offers variety to users. Crypto.com provides access to all the top 10 coins based on their market cap. On the other hand, Coinbase provides access to all the top coins except Binance’s native tokens.

With over 500 trading pains, both exchanges make it easy for users to trade their assets in their desired pairs. It gives investors room to compare and determine which asset pair suits their financial resolve. Both Coinbase and Crypto.com also offer crypto-crypto as well as crypto-fiat pairs.

When it comes to finding newer coins, Crypto.com may be your best bet. Coinbase is a top centralized exchange, and unless an asset has enjoyed a considerable level of mass adoption, among other requirements, it may not be listed on Coinbase.

Winner: With over 250 cryptocurrencies and 500 trading pairs offered by both Coinbase and Crypto.com, there’s almost nothing to separate them in this regard

Coinbase vs Crypto.com: User Experience

Although both Coinbase and Crypto.com measure up to each other in several features, the user experience is quite different. The onboarding process on Coinbase is extremely easy, and the user interface is very friendly. Investors can sign up and initiate a transaction immediately.

Both platforms have a mobile app, but Coinbase is easier to navigate. Crypto.com provides several services that may become overwhelming for beginners.

Overall, Coinbase guarantees a better customer support as the platform also has educational resources for users. There are videos, articles, and guides to acquaint users with the required crypto knowledge. Crypto.com users do not have these resources at their disposal.

A major concern for Crypto.com users is the constant app updates that require users to sign in from scratch.

Mobile apps

Coinbase and Crypto.com have mobile apps that ensure asset management on mobile devices from anywhere in the world. Although Coinbase is beginner friendly, both platforms’ mobile app grants users unlimited access to their services.

They also both require a KYC process that must be fulfilled and it is worth mentioning that Crypto.com has a stricter KYC process. The Coinbase app, however, offers more in terms of charting tools, trading APIs, and additional order types.

Winner: While both Coinbase and Crypto.com have a fairly decent rating on the app store, Coinbase boasts a better overall user experience. The beginner friendliness, less rigorous KYC process, and multi-optional customer support make Coinbase a clear winner.

Coinbase vs Crypto.com: Security

Account protection

In terms of wallet security, Coinbase and Crypto.com both have proper measures in place to secure their users’ assets. Both platforms offer secure digital wallets with multi-factor authentication and address whitelisting.

Whitelisting is required on the Crypto.com wallet but optional on Coinbase. The Crypto.com wallet encrypts private keys locally on the user’s device. With Coinbase, the trading account doesn’t allow private key management, but the stand-alone wallet enables users to manage and store them on their devices.

Asset protection

Coinbase and Crypto.com adhere strictly to KYC provisions and have their funds insured with the FDIC. However, Both platforms have suffered significant security breaches in the past. Coinbase fell prey to a hack in 2021, an attack that affected over 6000 users.

On the other hand, Crypto.com was hacked in 2022, with assets worth $35 million stolen. In response to the hack, Crypto.com announced a Worldwide Account Protection Programme (WAPP) with a promise to refund up to $250,000 to users who qualify.

Regulation

Coinbase has recently had a run-in with the SEC. The regulatory body served Coinbase with the “Wells Notice” regarding some undefined portion of its digital assets and staking services which include Coinbase Prime, Coinbase Earn, and Coinbase Wallet.

Winner: Users can count on the security measures on both Coinbase and Crypto.com. Their multi-factor authentication, insurance, and KYC regulations are among the best that centralized cryptocurrency exchanges have to offer.

Coinbase vs Crypto.com: Customer Support

Just like traditional financial institutions, crypto exchanges still need to pass the test of providing excellent support to customers. From long waiting queues to slow response times, both Coinbase and Crypto.com are not immune to the woes of customer support.

However, both platforms are continuously paying attention to placing helpful resources in their help centers to limit the need for human interaction. The email and chat options are also available to users as well. The help centers on both platforms have common queries and solutions to provide quicker support to users.

Winner: Coinbase and Crypto.com are similar in terms of customer support, as both platforms offer identical services. However, Coinbase edges Crypto.com by introducing the phone option. This method resolves complaints faster as users can speak to customer agents and get real-time responses.

Our Verdict

A careful comparison of both platforms reveals that Coinbase and Crypto.com are top centralized exchanges that suit different types of crypto investors. While choices on which platform to choose may depend on your financial strategy, Coinbase emerges as the winner.

Although Crypto.com is still cheaper in terms of overall trading fees, Coinbase has the tools sophisticated investors need. Coinbase has also rolled out a newer option called Coinbase One, which offers no-fee trades and other benefits in exchange for a monthly fee of about $30.

The beginner friendliness of Coinbase also puts it ahead of the competition. While both platforms are KYC compliant, Coinbase allows users to initiate a certain level of transactions after signing up without KYC. The localized phone support innovation by Coinbase also puts it ahead and not even Binance has been able to match this.

Who is Coinbase best for?

Coinbase is more suitable for the following users

• Newbies

• Experienced traders

• Web3 enthusiasts

• Users who need urgent cash

Who is Crypto.com best for?

Crypto.com is more suitable for the following users

• Long term traders

• NFT traders

• Low-fee option traders

• Crypto Farmers

How do Coinbase and Crypto.com Compare to Other Platforms?

Coinbase and Crypto.com are among the best centralized exchanges. However, there are other platforms in this same category as these two. Let’s see how they compare with their closest rivals.

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Crypto investors looking for a user-friendly platform to support their crypto journey can choose Kraken. Kraken’s interface and features are better than Crypto.com and similar to Coinbase in terms of ease of use.

Kraken also offers advanced trading like futures and margins, making it a viable alternative to Coinbase and Crypto.com. Kraken levels closely with Crypto.com in terms of trading fees, with both exchanges cheaper than Coinbase.

\n\n”,”_questions_1_answer”:”answer_faq_field”,”questions_2_question”:”Coinbase vs Crypto.com vs Gemini”,”_questions_2_question”:”question_faq_field”,”questions_2_answer”:”

Coinbase, Crypto.com, and Gemini all allow NFT trading on their platform. Although Gemini is slightly cheaper than Coinbase, both platforms have a similar fee structure. If you are an investor looking for advanced trading, Gemini and Coinbase have incorporated this feature.

Additionally staking your assets on Gemini earns you about 2% interest more than Coinbase but still far less than Crypto.com. Also, note that Coinbase and Crypto.com offer twice the number of coins available on Gemini.

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While Coinbase and Crypto.com are strictly for crypto and NFT trading, eToro offers extensive investment options to users. You can also trade stocks and ETFs on eToro. You would find just 80 cryptocurrencies on eToro, way less than Crypto.com and Coinbase.

Coinbase is renowned for its educational materials volume available to investors. Likewise, eToro has an academy where investors can learn from hundreds of tutorials, courses, and videos. However, Coinbase is still unmatched thanks to its “learn to earn” feature.

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Coinbase and Crypto.com are better than Bitstamp, no matter how you choose to look at it. Although, Bitstamp’s trading fees are relatively lower than Coinbase and much more similar to Crypto.com, the platform’s available 70 cryptocurrencies are nothing compared to what you find on Crypto.com and Coinbase.

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