Cryptocurrency exchanges have become essential for investors looking to trade, store, and earn rewards on their digital assets.
Crypto.com and Coinbase are two of the most popular platforms, each offering unique features and benefits for different types of users. While both allow access to numerous cryptocurrencies and fiat currencies, their structures, fees, and targeted users vary widely.
Here’s an in-depth look at how Crypto.com and Coinbase stack up, so you can decide which best fits your needs.
Range of Cryptocurrencies and Supported Assets
Crypto.com offers access to over 250 cryptocurrencies, making it an appealing choice for users interested in diverse altcoins. It also supports over 20 fiat currencies, like USD, EUR, and GBP, and allows users to buy, sell, and store NFTs on various blockchains.
Crypto.com’s flexibility makes it a strong contender for those looking for variety beyond mainstream crypto assets.
Coinbase, on the other hand, supports over 170 cryptocurrencies and boasts more than 500 crypto-to-crypto trading pairs. This selection may be smaller than Crypto.com’s, but it’s still extensive enough to satisfy most users, especially beginners.
For added convenience, Coinbase offers fiat support and allows users to buy, sell, and store NFTs in one place.
Fee Structure: Maker and Taker Fees
When it comes to trading fees, both platforms use a maker-taker model, which is standard across most crypto exchanges.
Maker fees apply to users who add liquidity to the market by creating new buy or sell orders, while taker fees are for those who complete transactions from existing orders.
- Crypto.com Fees:
- Maker fees: Up to 0.075%
- Taker fees: 0.05%–0.075%
- Coinbase Fees:
- Maker fees: Up to 0.40%
- Taker fees: 0.05%–0.60%
Crypto.com’s fees are generally lower than Coinbase’s, making it more attractive for users trading larger volumes. It’s also worth noting that both platforms have a $0 account minimum and don’t charge for depositing fiat via bank transfers.
However, Coinbase’s 1% transaction fee on all crypto transactions can add up quickly, while Crypto.com’s varied withdrawal and top-up fees might affect frequent users.
Additional Fees
Coinbase charges a 5% recovery fee on accounts over $100, while Crypto.com applies a 2% foreign transaction fee and a 1% top-up fee for debit card payments. Understanding these additional charges is key to calculating your true trading costs, especially for high-volume traders.
Wallet Options: Custodial and Non-Custodial Options
Both Crypto.com and Coinbase offer non-custodial wallets, allowing users to control their private keys and retain full ownership of their assets. A non-custodial wallet means users are responsible for managing their own recovery phrases and passwords, which can enhance security but also carries risk if access is lost.
- Coinbase Wallet: Coinbase’s non-custodial wallet supports thousands of tokens and NFTs in one location. Users can also access decentralized finance (DeFi) liquidity pools, enabling them to supply or borrow crypto assets or swap tokens through decentralized exchanges.
- Crypto.com Wallet: Like Coinbase, Crypto.com’s non-custodial wallet supports multiple tokens across more than 30 blockchains. The wallet allows users to make Dapp transactions, browse decentralized applications, and swap tokens using the in-app bridging feature. Additionally, Crypto.com offers rebates on over 25 tokens, and users can store and share their NFTs directly from the platform.
For both wallets, there is a 12-word recovery phrase (seed phrase) to restore access if necessary. However, if the phrase is lost or forgotten, the account must be restarted from scratch.
Security and Protection
Security is a top priority for any crypto exchange, given the risk of hacks and financial fraud. Both Crypto.com and Coinbase offer high-level security features:
- Crypto.com: The platform uses Multi-Factor Authentication (MFA), which is required for transactions, password changes, and accessing personal information. Whitelisting external addresses adds layer of security when making withdrawals. Crypto.com saw a significant increase in trading volume following the FTX collapse in November 2022, highlighting the trust users place in its security measures.
- Coinbase: Coinbase uses two-factor authentication (2FA) with automatic enrollment, and requires multi-approval for withdrawals from its Vault, which is designed for high-value storage. Coinbase also encrypts user passwords with the bcrypt algorithm, adding layer of protection.
Both platforms ensure user funds up to $250,000, which provides added confidence that assets will remain secure even in worst-case scenarios.
Usability: Which Platform is Easier to Navigate?
Crypto.com is built with intermediate and advanced users in mind, boasting a suite of features and products that can be overwhelming for beginners. Its advanced trading options include futures, perpetual contracts, and volume-based discounts, which may appeal to users looking to leverage complex strategies.
Coinbase takes a more beginner-friendly approach, with an intuitive interface and an “Earn to Learn” feature that rewards users for watching educational videos. This makes it ideal for new investors eager to learn the basics and gradually build their knowledge. Coinbase also offers advanced charting functions for seasoned traders, providing a versatile experience that caters to both novice and advanced users.
Geographic Availability
Both exchanges are available in over 100 countries, but restrictions apply in certain U.S. states:
- Crypto.com: Available in 49 U.S. states (excluding New York), with additional coverage in U.S. territories like Puerto Rico and the Virgin Islands. However, the Crypto.com Visa Card is not obtainable in these territories.
- Coinbase: Accessible in all U.S. states except Hawaii. Its global reach includes support for 41 European countries, 16 Asia-Pacific countries, 10 South American countries, and 25 countries across Africa and the Middle East.
These broad networks make both platforms suitable for international users, though individual state or country restrictions might affect certain cryptocurrencies or features.
Steps to Start Trading
Setting up an account on both platforms is straightforward:
- Crypto.com:
- Visit the Markets page.
- Select the cryptocurrency to trade.
- Enter the desired purchase amount.
- Confirm your selection by clicking “Trade.”
- Coinbase:
- Begin by selecting “Get Started.”
- Browse the list of available crypto assets.
- Choose the asset to trade.
- Confirm the purchase amount.
Both platforms offer comprehensive educational resources, helping users develop their investment strategies while minimizing the risks associated with cryptocurrency trading.
Additional Platforms Worth Considering
Crypto.com and Coinbase are two heavyweights, but they’re not the only options:
- Binance: Acknowledged for its low fees and enormous selection, Binance bids around 150 cryptocurrencies for U.S. users. The platform’s maker-taker model and extensive functionality make it a strong choice for experienced investors.
- Gemini: Gemini’s intuitive interface and robust security measures make it a solid choice for beginners. However, with only 100 cryptocurrencies, it has a smaller selection than Crypto.com or Coinbase. Gemini’s fee structure includes maker fees up to 0.20% and taker fees up to 0.40%, and the platform offers a secure environment but has faced scrutiny regarding trustworthiness.
The Bottom Line: Choosing the Right Platform for You
Picking between Crypto.com and Coinbase depends mainly on your trading experience and investment goals:
- Crypto.com is better suited for intermediate to advanced users who want access to a broad range of cryptocurrencies, advanced trading features, and a DeFi wallet for accessing decentralized applications. Its lower fees make it an attractive choice for high-volume trading, though new users may find the platform overwhelming.
- Coinbase is a top pick for beginners, offering a simple, easy-to-navigate interface with educational tools to ease users into the world of crypto trading. While its fees are higher, Coinbase’s reputation for security and ease of use make it a solid choice for those just starting.
Ultimately, the best exchange depends on your individual needs, whether you’re looking to trade frequently, access DeFi options, or simply want a user-friendly experience.