Crypto.com and Coinbase are both popular international cryptocurrency exchanges that offer many different products to their users, but how do they actually compare when it comes down to fees?
While both platforms are popular, Crypto.com is significantly less expensive.
While the maker-taker price structure rewards customers with greater trading volumes, Coinbase charges a flat rate or a variable fee that varies by location or payment method.
Additionally, Crypto.com offers extensive rewards, including options to earn cryptocurrency and interest on deposits.
Coinbase, on the other hand, distinguishes itself for its ease of use and educational possibilities for earning cryptocurrency.
We’ll take a look at what these two companies have going for them as well as how they stack up against one another in terms of security features and available cryptocurrencies on each platform – you might be surprised!
Additional benefits for staking CRO
Several methods to generate cryptocurrency or interest
Educational resources are quite scarce compared to competitors
Coin availability varies by state in the U.S.
Proven track record and a well-deserved reputation for security
Conduct transactions with PayPal
Currency selection is somewhat limited
Some of the highest fees compared to competitors
Crypto.com vs. Coinbase: Fees
Cryptocurrency has become a popular way to invest in the future, but what are some of its downsides? One major concern is that cryptocurrency apps and exchanges can charge a variety of different fees.
Costs can vary depending on the payment method (i.e., credit card vs. bank account), how much you’re exchanging it for/with what currency(s), etcetera; however prices change consistently, so do your research first!
Overall, prices vary according to payment method, trading amount, geographic location, and cryptocurrency.
If you want to be successful in the cryptocurrency market, it is important that you carefully calculate your profits and losses. Many traders lose money by not accounting for their trades properly.
Fees come in three flavors: deposit, trading, and withdrawal.
Crypto.com and Coinbase do not impose fees for bank transfer deposits, although both do for debit card payments.
On most exchanges, depositing cryptocurrencies is free, but transferring fiat currency from your bank account is not.
Coinbase’s lack of transparency about its trading fees can be a disappointment for some users. Coinbase states that the trading fees are determined at the time of order placement but does not disclose its maker/taker charge, as other sites do.
If you purchased $200 worth of Bitcoin on Coinbase using a debit card, you would pay a 3.99% Coinbase fee and a spread of approximately 0.5%. When you execute the trade, the spread may alter.
If you use Coinbase Pro, fees are cheaper and more transparent.
On Crypto.com, debit / credit card transactions cost 2.99% plus a 0.4% maker/taker trading fee.
This fee is waived for customers with a higher trading volume or those that stake the Crypto.com coin (CRO).
For the initial 30 days, Crypto.com waives the debit/credit card charge for new customers.
Coinbase, like its trading costs, only publishes the withdrawal charge at the time of the transaction.
While it is free to transfer funds to a Coinbase wallet, you will be charged a variable price to transfer your crypto asset to another external wallet.
In comparison, Crypto.com discloses its withdrawal costs for each cryptocurrency, despite the fact that assets can be transferred to the Crypto.com wallet for free.
In general, Crypto.com charges less. However, Coinbase does provide various deposit methods, such as PayPal transfers.
Crypto.com vs. Coinbase: Currencies Available
Coinbase has increased its cryptocurrency assortment in 2021, but it is still short of the number of coins offered by Crypto.com.
Both platforms support all major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Solana (SOL). Additionally, they trade key stablecoins such as USD Coin (USDC) and Tether (USDT).
Coinbase offers 66 cryptocurrencies, whereas Crypto.com supports 91.
Both accept popular fiat currencies such as the US dollar, euro, and pound sterling, along with coin fractions.
Coinbase, on the other hand, offers over 20 fiat currencies, while Crypto.com accepts over 60.
However, New York residents are prohibited from purchasing 12 currencies on the Coinbase platform, while Crypto.com users in Connecticut and Texas are prohibited from purchasing DAI or PAX Gold (PAXG).
Additionally, citizens of 11 states are unable to buy Binance Coin (BNB).
Crypto.com vs. Coinbase: Wallets
Both Coinbase and Crypto.com offer well-regarded decentralized wallets.
Both are non-custodial hot wallets (connected to the internet) segregated from the exchanges’ custodial wallets.
You are in complete control of your keys and account security. Keys function similarly to a bank PIN, and many crypto fans think that controlling your private key is critical to minimizing the risk of account hijacking or getting your account frozen.
Both wallets support a large assortment of coins, including all Ethereum-based tokens.
Coinbase’s crypto selection, on the other hand, might well be expanded; it currently does not offer large coins such as Cardano, Algorand (ALGO), or EOS (EOS).
Furthermore, Crypto.com simplifies the process of staking coins and importing an existing wallet.
Crypto.com’s DeFi wallet enables certain users to swap coins on decentralized exchanges directly from the app; nevertheless, this feature is unavailable to users in the United States.
Coinbase’s proposition is more compelling in this instance. Users of its US-based wallets may access its decentralized trading platform, but only for Ethereum-based tokens.
Crypto.com vs. Coinbase: Ease of Use
Both platforms support trading via the web or mobile application. While the mobile apps and browser-based tools are intuitive and simple to use, the appearance of the exchange platforms themselves is unique.
Coinbase has a straightforward approach, making it simple to navigate the site and determine your next steps.
In comparison, Crypto.com offers a plethora of products, and the website may appear intimidating at first.
Beginners unfamiliar with trading may feel more at ease using Coinbase until they gain a better understanding of the language and transaction types available.
Crypto.com vs. Coinbase: Security
If you are investing in crypto, it is crucial that your exchange account security is top-notch. The security of customers’ funds is one thing to consider when deciding between Crypto.com and Coinbase. It is difficult to pick between the two companies.
Crypto.com and Coinbase are both vying to be your go-to for security when it comes to crypto, but enthusiasts can argue that one has the edge over the other because of their rigorous practices – especially with how much attention they pay in securing customer funds.
Coinbase and Crypto.com are both extremely secure platforms that adhere to industry standards for functioning in the United States.
These popular exchanges offer two-factor (2F) authentication, FDIC insurance for USD balances, and insurance against damage or theft.
Additionally, they utilize a bug bounty service to identify security vulnerabilities. However, there are a few critical distinctions.
Coinbase’s standard wallet is a hot wallet that enables easy sending and receiving of cryptocurrency.
However, users who intend to keep their coins for an extended period of time can use Coinbase’s “vaults.” Coinbase refers to their cold storage, multi-signature wallets as vaults.
Both platforms keep the lion’s share of user funds in cold storage to ensure their security.
Coinbase asserts that 95% of its money is held in cold storage.
Whereas, Crypto.com asserts that all assets are held in cold storage. They do it in collaboration with Ledger, the brand best known for its cryptocurrency hardware wallets.
Customers benefit from an institutional-grade custody solution through Crypto.com’s integration with Ledger Vault and hardware security.
This invites the following question: How does Crypto.com handle user withdrawals? The answer entails the use of hot wallets containing corporate funds.
While 100% of users’ assets are maintained in cold storage, Crypto.com maintains hot wallets for corporate assets used to handle user withdrawal requests. These hot wallets are likewise managed via hardware modules, and transactions require several signatures.
Each platform comes equipped with a digital wallet that includes advanced security measures such as multi-factor authentication and address whitelisting. However, whitelisting is required for the Crypto.com wallet but is not necessary for Coinbase.
Coinbase handles the user’s private keys, whereas Crypto.com offers locally encrypted private keys on the user’s device.
Make Crypto Easy with Coinbase and Crypto.com
Coinbase and Crypto.com are fantastic choices for many crypto investors.
If you’re a first-time crypto investor and want to invest in cryptocurrencies like Bitcoin, Ethereum, or Litecoin but don’t want to spend time learning how cryptocurrency exchanges work, Coinbase may be the best option for you.
With their plethora of information on cryptos and simple-to-use trading platform, Coinbase can help make your investment experience as painless as possible. Moreover, with their Visa debit card that pays crypto rewards on purchases without additional requirements, it’s hard not to love them!
Crypto.com offers a variety of new features and rewards to make your staking experience as easy and profitable as possible. But, the exchange does have some drawbacks that you should be aware of before deciding to use the platform.
If you are looking for an easy-to-use interface or prefer to manage your crypto assets through a web browser, then this may not be the exchange for you.
The Crypto.com mobile app (unavailable in New York) — provides much more functionality on the go than the web exchange platform. Nonetheless, customers must spend a significant quantity of CRO tokens to unlock lower fees and Visa card rewards – something they might not want or need if only using the service infrequently.
For those looking to diversify their investments with other types of cryptocurrencies or have larger sums invested in the market, Crypto.com may be more appropriate due to its lower fees and additional choices to earn staking rewards.
Cryptocurrencies are volatile, and it’s important to do your research before investing. It’s also worth noting that the cryptocurrency market constantly changes over time. As with any investment, make sure you know what you’re getting into – not only because people have lost money trading cryptos but also because they can change at any moment.
Either way, you go, you should feel confident that your investment will be secured by these two trusted exchanges.