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Investing; Crypto.com vs. Coinbase?

Investing; Crypto.com vs. Coinbase?

Crypto.com and Coinbase are two trusted cryptocurrency exchanges offering a native coin. Both exchanges let users buy, sell, or trade cryptocurrency. Plus, they ensure top-notch security and provide a digital wallet. Coinbase’s USD coin (USDC) is a U.S. dollar-stable coin, meaning 1 USDC equals $1. By comparison, Crypto.com provides a Crypto.com coin (CRO), and the more users stake, the more benefits they receive.  

Although both platforms are popular, Crypto.com is much cheaper. The maker-taker pricing structure rewards users with higher trading volumes, whereas Coinbase has maker taker fees that are a bit higher and also may charge fixed fees. Crypto.com also delivers generous rewards with ways to earn crypto and interest on deposits. However, Coinbase stands out for its ease of use and educational opportunities to earn crypto.  

We evaluated both exchanges on supported currencies, fees, special features, and security. Moreover, we looked at how access levels differ between investors in various U.S. locations.

Crypto.com


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  • Fees: 0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, plus 2.99% for credit card purchases
  • Currencies: 150+
  • Security: Two-step verification, FDIC-insured USD balances up to $250,000, platform insurance against theft, cold storage, and uses a bug bounty program
  • Wallet: Multi-factor authentication, biometric, private keys locally encrypted
  • Transactions Supported: Buy, sell, send, receive, withdraw, and exchange 
  • Max. Monthly Trading Amount: Not Listed

Pros

  • Lower fees than other well-known platforms
  • Added benefits for staking CRO
  • Multiple ways to earn crypto or interest

Cons

  • Customer service isn’t responsive
  • Somewhat limited educational resources
  • Many coins not available in the U.S.

Coinbase


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Get $10 of BTC by signing up with promo code: INVESTO10

  • Fees: Up to 0.50% spread per trade, 3.99% for credit card purchases, and 1.49% for Coinbase wallet or bank account purchases
  • Currencies: 100+
  • Security: Two-step verification, FDIC-insured USD balances up to $250,000, platform insurance against theft, cold storage, and uses a bug bounty program
  • Wallet: AES-256 encryption and multi-signature wallets
  • Transactions Supported: Buy, sell, send, receive, withdraw, and exchange
  • Max. Monthly Trading Amount: Limits vary based on your payment method and region, $25,000 per day deposit limit in the U.S.

Pros

  • Make transactions using PayPal
  • Earn crypto by learning about trading
  • User-friendly, even for beginners

Cons

  • Some of the highest fees of all exchanges
  • Fewer tradable altcoins than Crypto.com
  • Fewer opportunities for discounts on fees

Crypto.Com Vs. Coinbase

At a Glance

 Crypto.comCoinbase
Fees 0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, plus 2.99% for credit card purchasesUp to 0.50% spread per trade, 3.99% for credit card purchases, and 1.49% for Coinbase wallet or bank account purchases
Currencies 150+100+
Security Two-step verification, FDIC-insured USD balances up to $250,000, platform insurance against theft, cold storage, and uses a bug bounty program Two-step verification, FDIC-insured USD balances up to $250,000, platform insurance against theft, cold storage, and uses a bug bounty program  
Wallet Multi-factor authentication, biometric, private keys locally encryptedAES-256 encryption and multi-signature wallets 
Transactions Supported Buy, sell, send, receive, withdraw, and exchange Buy, sell, send, receive, withdraw, and exchange 
Max. Monthly Trading Amount Not ListedLimits vary based on your payment method and region, $25,000 per day deposit limit in the U.S.

Crypto.com vs. Coinbase: Features

Both cryptocurrency exchanges provide a mobile app that works on Android and iOS devices along with a digital wallet. However, the platforms differ in their offerings. While Coinbase focuses on beginner education, Crypto.com, which started as a crypto payment platform, offers several products, such as Visa cards, crypto pay at checkout, and several ways to earn crypto. 

Coinbase investors appreciate a massive library of information about trading cryptocurrency. By taking a course or viewing a lesson about various altcoins, users earn a bit of cryptocurrency, often three or 10 dollars worth. It also has a waitlist for an upcoming Coinbase Visa debit card where users can earn up to 4% in rewards on every purchase. Plus, Coinbase has a native coin, USD Coin (USDC). Users can hold onto USDC to earn a 0.15% annual percentage yield (APY).1

Unlike Coinbase, Crypto.com offers very limited educational materials. Its knowledge base covers the basics of the platform. There is also a blog and a handful of lessons in the “university” section. Instead, it concentrates on products: 

  • Visa card: Several card tiers offering up to 8% CRO rewards on purchases, depending on the amount of CRO staked
  • Crypto Pay: Buy gift cards with crypto or select crypto pay at checkout at certain retailers to pay using crypto
  • Crypto Earn: Users can earn up to 12% on crypto deposits; however, it’s typically not recommended to store currency on platforms2
  • Crypto Credit: Non-U.S.-based users can borrow up to 50% of their crypto collateral with a Crypto loan

Crypto.com vs. Coinbase: Currencies

Crypto.com supports 150+ cryptocurrencies, whereas Coinbase has 100+ tradable cryptocurrencies. Both support popular fiat currencies, including USD, EUR, and GBP, as well as coin fractions. Cyrpto.com has 26 fiat supported currencies and Coinbase is no longer sharing their complete list. However, New York users are barred from buying certain currencies on the Coinbase platform, whereas Crypto.com investors in Connecticut can’t buy DAI and residents of that state as well as Texas can’t buy PAX Gold (PAXG). Both platforms support Dogecoin (DOGE), along with other favorite altcoins.

Crypto.com vs. Coinbase: Security

Coinbase and Crypto.com are highly secure platforms offering industry-standard measures required for operation in the United States. Both exchanges provide two-factor (2F) authentication, Federal Deposit Insurance Corporation (FDIC) insurance on USD balances, and insurance against damage or theft. They also use a bug bounty platform to find weaknesses. Coinbase keeps 98% of currencies in cold storage, whereas Crypto.com says it stores 100% in air-gapped cold storage. 

Each platform features a digital wallet with excellent security features, including multi-factor authentication and address whitelisting. But whitelisting is mandatory on the Crypto.com wallet and optional on Coinbase. The Crypto.com wallet provides private keys that are encrypted locally on the user’s device. With Coinbase, the trading account does not allow you to manage your private keys, but the stand-alone wallet does let you manage them and have them on your device.

Crypto.com vs. Coinbase: Fees

The biggest difference between the platforms comes down to cost. Crypto.com keeps it simple using the maker-taker model, with rates ranging from 0.04% to 0.40% for maker fees and 0.10% to 0.40% for taker fees. Like Coinbase, investors pay additional fees for using credit cards. However, Coinbase charges a maker-taker fee of usually 0.50% plus a variable or fixed Coinbase fee, based on the funding type or region. 

For example, a low-volume trader wanting to purchase $100 worth of Bitcoin (BTC) via an Automated Clearing House Network (ACH) transfer incurs a maker-taker fee of 0.40% on Crypto.com.

Coinbase charges maker-taker fees of 0.50% on the same transaction.

Crypto.com offers steep discounts for investors who stake CRO. Using a tiered system, you can earn larger and larger discounts up to 100% of the maker-taker fees depending on how much you stake. Although you’ll find many Coinbase promotions across the web, there are fewer options for fee discounts on Coinbase.

 Crypto.comCoinbase 
Bank AccountFree1.49%
Wallet Conversion Fee Free 1.49% 
Debit/Credit Cards 2.99%3.99% 
ACH Transfer Free, with a minimum of $20 Free
Wire Transfer Free, with a minimum of $5,000 $10 deposit, $25 withdrawal 
Crypto Conversion Free Up to 2% spread 
Trades Maker-taker model based on 30-day trading volumeMaker-taker model

Maker-taker fees for Crypto.com differ according to your 30-day trading volume:  

  • $0 to $25,000: 0.40% maker, 0.40% taker
  • $25,001 to $50,000: 0.35% maker, 0.35% taker
  • $50,001 to $100,000: 0.15% maker, 0.25% taker
  • $100,001 to $250,000: 0.10% maker, 0.16% taker
  • $250,001 to $1,000,000: 0.09% maker, 0.15% taker
  • $1,000,001 to $20,000,000: 0.08% maker, 0.14% taker
  • $20,000,001 to $100,000,000: 0.07% maker, 0.13% taker
  • $100,000,001 to $200,000,000: 0.06% maker, 0.12% taker
  • $200,000,001 and above: 0.04% maker, 0.10% taker

In comparison, Coinbase charges a higher rates that are a bit higher:

  • $0 to 10,000: 0.50% taker, 0.50% maker
  • $10,000 to 50,000: 0.35% taker, 0.35% maker
  • $50,000 to 100,000: 0.25% taker, 0.15% maker
  • $100,000 to 1,000,000: 0.20% taker, 0.10% maker
  • $1,000,000 – 10,000,000: 0.18% taker, 0.08% maker
  • $10,000,000 to 20,000,000: 0.18% taker, 0.08% maker
  • $20,000,000 to 50,000,000: 0.15% taker, 0.05% maker
  • $50,000,000 to 100,000,000: 0.15% taker, 0.05% maker
  • $100,000,000 to 300,000,000: 0.10% taker, 0.02% maker
  • $300,000,000 to 500,000,000: 0.08% taker, 0.00% maker
  • $500,000,000 to 750,000,000: 0.06% taker, 0.00% maker
  • $750,000,000 to 1,000,000,000: 0.05% taker, 0.00% maker
  • $1,000,000,000 to 2,000,000,000: 0.04% taker, 0.00% maker
  • $2,000,000,000+: 0.04% taker, 0.00% maker

Crypto.com vs. Coinbase: Ease of Use

Both platforms offer web or app-based trading. Although the mobile apps and browser tools are intuitive and easy to use, the exchanges look different. Coinbase takes a simple approach, making it easy to navigate the website or figure out your next steps. 

In contrast, Crypto.com provides several products, and the website can be overwhelming at first glance. Beginners new to trading may feel more comfortable using Coinbase until they understand the terminology and types of transactions supported. 

Crypto.com vs. Coinbase: Access

Coinbase is available in more than 100 countries including the U.S., Canada, Singapore, United Kingdom, and 39 European countries. However, residents of Hawaii can’t use Coinbase. New York residents may face restrictions.

Although New York investors can’t use Crypto.com, Hawaii residents can. Moreover, it’s available to residents in over 100 countries, including the U.S., Australia, Singapore, Canada, and the U.K. DAI is not available in Connecticut. PAXG isn’t available in Connecticut and Texas. In total, 22 coins aren’t available to U.S. residents. 

Final Verdict

Ease of use, low fees, and a nice selection of coins make up some of the best cryptocurrency exchanges. Although Crypto.com has a slight learning curve, the website and app are user-friendly and easy to navigate. Additionally, the costs are lower than Coinbase, and there’s a broader range of currencies. Combined with multiple discounts and products, such as crypto payment for purchase options, these reasons earn it a top spot over Coinbase. 

Frequently Asked Questions (FAQs)

What Are Crypto.com and Coinbase?

Crypto.com and Coinbase are crypto exchange platforms that let investors buy and sell popular and lesser-known cryptocurrencies. Users can keep funds in their online account or transfer to their account using various methods, such as a credit card, wire transfer, or ACH withdrawal. Both are excellent options for people wanting to invest in cryptocurrency or earn small amounts of crypto in exchange for using or learning on the platform. 

How Do Crypto.com and Coinbase Work?

Crypto.com and Coinbase use similar verification methods once users sign up for an account. Once the account is verified, investors can deposit money via ACH, wire transfer, PayPal, or a credit or debit card. 

To trade on Crypto.com, navigate to the Markets page, choose your coin and click Trade. On Coinbase, simply click Get Started to see a list of crypto assets. Both platforms require investors to decide how much to purchase and show fees before the trade is finalized. 

Regardless of the exchange used, to get the most out of crypto trading, it’s essential to learn the basics of investing, find the cheapest ways to deposit funds (usually ACH), and decide what security measures you want to take. 

Are Crypto.com and Coinbase Safe?

Yes, Crypto.com and Coinbase are safe and use security measures that are industry-standard or above for U.S.-based residents. Although Crypto.com is based in Hong Kong, where some rules may be different, it prioritizes security equally to Coinbase. Both exchanges are well known in the space and employ bug bounty hunters to root out potential security issues.

Who Should Use Crypto.com vs. Coinbase?

First-time traders who don’t understand the terminology and process may prefer the simplicity of Coinbase along with the educational materials provided. It’s an excellent starter platform, and once investors are familiar with trading, the Coinbase Pro app is a free upgrade and offers cheaper fees. 

However, if you have a basic understanding of cryptocurrency and want to stake CRO, you can take advantage of many benefits on Crypto.com. The more an investor stakes, the lower the costs. Even without staking CRO, it’s less expensive to trade on Crypto.com. Furthermore, you’ll have access to several Visa cards and gift cards that you can use to earn and spend crypto. 

By JESSICA ELLIOTT, Investopedia

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