Coinbase vs. Crypto.com: Which crypto platform is right for you?
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Coinbase vs. Crypto.com: The biggest differences
Coinbase and Crypto.com are two popular cryptocurrency exchanges offering hundreds of assets for individuals and institutions across the globe. Both allow for staking (a process whereby users earn crypto rewards for holding certain assets for a set period of time), spending perks, wallet services, and much more.
But Coinbase is the best choice for beginners or institutions who want to get the most out of their crypto. Crypto.com, on the other hand, better serves traders who want to earn higher staking rewards and use DeFi services.
Coinbase | Crypto.com |
Account types
| Account types
|
Investment choices Cryptocurrencies | Investment choices Cryptocurrencies |
Account perks
| Account perks
|
Human advisors available? No | Human advisors available? No |
Robo-advice? No | Robo-advice? No |
Is Coinbase right for you?
Formed in 2012, Coinbase is a cryptocurrency exchange serving individuals and institutions across the globe. To date, the platform serves roughly 98 million users in more than 100 countries.
But when it comes to individuals, Coinbase's key investment products include Coinbase learning rewards (a feature that pays you in crypto for watching educational videos about the cryptocurrencies it lists), the Coinbase Card, Coinbase Borrow, a self-hosted crypto wallet, and its new NFT platform. Plus, its recently launched Coinbase One subscription service gives you access to fee-free trades, 24/7 customer support, and market research. You can sign up for a 30-day free trial, but we're not clear on the fees Coinbase charges after the subscription ends.
The Coinbase Card is a Visa® debit card that has no fees and offers users crypto back on every purchase. And as for Coinbase Borrow, you'll be able to use your bitcoin as collateral to get a loan of up to $1 million. You'll have to pay back at a 8.7% APR, though.
Plus, the crypto exchange gives more advanced users the option of either setting up a Coinbase Pro account, or a Coinbase Advanced Trade account. Coinbase Pro includes separate web and mobile platforms, and both platforms offer access to charting tools, trading APIs, and additional order types (e.g., limit orders and stop orders). See how the Coinbase and Coinbase Pro accounts compare.
With Coinbase Advanced Trade, you'll get several features Coinbase Pro doesn't offer. This includes interest rewards (of up to 5%) on multiple cryptocurrencies and additional charting tools and security features.
Coinbase also offers up to 5.75% interest in staking rewards for individuals who prefer more of a passive approach to building crypto wealth, but its staking selection is quite limited.
Is Crypto.com right for you?
Crypto.com is also a global cryptocurrency exchange. The platform was founded in 2016 in Hong Kong, and it currently serves 50 million users in 90 countries.
You'll gain exposure to a much larger investment selection at
Plus, Crypto.com allows for "true cost" transactions, meaning that — as long as you use a credit/debit card on transactions within the first 30 days of opening your account — you'll pay 0% in fees.
Like Coinbase's staking offerings, Crypto Earn gives you the option to generate rewards on different cryptocurrencies. The platform currently allows this option for more than 40 assets, and you can earn up to 14.5% interest on crypto and up to 10% on stablecoins.
But Crypto.com's DeFi offerings separate it from Coinbase. DeFi basically involves public blockchain transactions that allow for peer-to-peer exchanges by removing third parties like banks and other financial institutions. Its DeFi products — which are best for advanced users — include a DeFi non-custodial wallet, interest-earning perks for more than 35 tokens, and a token-swapping service through its DeFi wallet app.
Finally, if you're looking to make the most out of your spending, the Crypto.com Visa Card gives you up to 5% back on purchases. And its other service — Crypto.com Pay — lets you pay with crypto at more than 300 brands and 300,000 shops.
Coinbase vs. Crypto.com — Frequently asked questions (FAQ)
Is Crypto.com better than Coinbase?
That depends on what you're looking for. Crypto.com certainly has a much larger investment selection than Coinbase, and it also offers multiple DeFi products for advanced users. You'll get access to more than 250 assets at Crypto.com. Coinbase offers more than 170.
But Coinbase offers more educational resources for beginners, and its institutional services outperform Crypto.com's. In addition to staking (Coinbase offers up to 5.75%), the Coinbase learning rewards feature incentivizes users to learn more about cryptocurrency by offering courses that pay you in crypto rewards.
How much money do you need to use Coinbase?
You only need a minimum of $2 to get started with Coinbase. Each cryptocurrency minimum will vary based off of its current market value.
Can you trust Coinbase?
Yes. Coinbase is a legitimate exchange that has been in business for years. It also has Money Transmitter licenses in numerous states (see more about its licenses here). Plus, you can also visit the Better Business Bureau to see its rating for Coinbase.
Is Crypto.com legitimate?
While
As for its US services, Crypto.com currently serves users in 49 states.