Two reputable cryptocurrency exchanges that provide a native coin are Crypto.com and Coinbase. Users can buy, sell, or trade cryptocurrencies on both exchanges. Additionally, they offer a digital wallet and guarantee top-notch security. The USD coin (USDC) from Coinbase is a U.S. dollar-stable coin, with 1 USDC equaling $1. In contrast, Crypto.com offers a Crypto.com coin (CRO) whose value changes. Users who stake it can also receive incentives.
Though both systems are well-liked, most users choose Crypto.com since it is less expensive. Both employ a maker-taker payment system. For low-volume customers, which is where the majority of users fall, Crypto.com is less expensive. Depending on your trading activity, Coinbase does come out cheaper at specific points in the fee schedule. Instead of maker-taker trading costs, fixed fees will be charged if you buy cryptocurrency from the company. With opportunities to earn cryptocurrency and interest on deposits, Crypto.com offers considerable rewards. The simplicity of usage and instructional opportunities for earning cryptocurrency, however, make Coinbase stand out.
On the basis of supported currencies, costs, unique features, and security, we assessed both exchanges. Also, we examined the variance in access levels among investors across different U.S. regions.
Characteristics of Crypto.com vs. Coinbase
Both bitcoin exchanges offer a digital wallet and an Android and iOS-compatible mobile app. The platforms’ offerings, however, vary. While Coinbase concentrates on educating newcomers, Crypto.com, which began as a platform for cryptocurrency payments, offers a variety of products, including Visa cards, crypto pay at checkout, and several ways to earn cryptocurrency.
Investors in Coinbase value the extensive database of knowledge available on bitcoin trading. Users can earn some money, typically $3 or more at a time, by enrolling in a course or watching a lesson about different altcoins. Users of Coinbase can obtain the Coinbase Card, a Visa debit card that offers incentives for each purchase. In addition, USD Coin, a native currency of Coinbase (USDC). Customers that hold on to USDC will receive a payout of 0.15% every year (APY).
Crypto.com offers much less educational content than Coinbase does. This knowledge base covers the platform’s fundamentals. The “university” area also includes a number of lessons and several categories of content. It focuses on products instead:
Visa card: Depending on the amount of CRO staked, various card tiers offer up to 5% CRO incentives on purchases.
Purchase gift cards with cryptocurrency or choose cryptocurrency pay at checkout at some stores to pay with cryptocurrency.
Earnings from Crypto: Customers can earn up to 14.5% on crypto deposits, although it is generally not advised to store money on platforms.
Crypto Credit: With a crypto loan, non-U.S. residents can borrow up to 50% of their cryptocurrency collateral.
Coinbase vs. Crypto.com: currencies
While Coinbase offers 200+ trading coins, Crypto.com supports over 250 different cryptocurrencies. Both accept coin fractions as well as widely used fiat currencies like USD, EUR, and GBP. 21 fiat currencies are supported by Crypto.com, whereas Coinbase no longer makes available the whole list. State-specific restrictions apply to several currencies on both platforms, although they both handle popular altcoins like Dogecoin (DOGE) as well.
Coinbase vs. Crypto.com: Security
Platforms like Coinbase and Crypto.com are extremely secure and provide the industry-standard security controls needed for operating in the US. Both exchanges offer two-factor (2F) authentication, insurance against loss or theft from the Federal Deposit Insurance Corporation (FDIC), and insurance on USD deposits. To uncover flaws, they also employ a bug bounty mechanism. Crypto.com claims it stores 100% of its cryptocurrencies in cold storage, compared to Coinbase’s 98% cold storage rate.
Each platform offers a digital wallet with top-notch security features like address whitelisting and multi-factor verification. With the Crypto.com wallet, whitelisting is occasionally required, although it is never required on Coinbase. Private keys that are encrypted locally on the user’s device are provided via the Crypto.com wallet. With Coinbase, you cannot manage your private keys through the trading account, but you may do it using the standalone wallet and store them on your device.
Cost is where the platforms diverge most from one another. With rates for maker fees ranging from 0.04% to 0.40% and taker fees ranging from 0.10% to 0.40%, Crypto.com makes things straightforward. Investors who use credit cards are charged extra costs. Maker fees on Coinbase range from 0% to 0.40%, and taker fees from 0.05% to 0.60%. Due to this, Crypto.com is more affordable for most users who fall under the bracket of users paying the highest taker fees.
On Crypto.com, for instance, a low-volume trader who wants to buy $100 worth of Bitcoin (BTC) via an ACH transfer must pay a maker-taker charge of 0.40%. On the same transaction, Coinbase levies maker-taker fees of 0.40% and 0.60%, respectively.