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.
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.
Coinbase’s investment selection includes more than 170 cryptocurrencies, making it an ideal platform for crypto traders who value flexibility. Plus, the crypto exchange offers a plethora of services for institutions, including the Coinbase Prime brokerage platform, Coinbase Institutional, commerce services, and institutional-grade offline storage.
But when it comes to individuals, Coinbase’s key investment products include Coinbase Earn (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 recently launched NFT platform.
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 setting up a Coinbase Pro 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.
Coinbase also offers up to 5.75% interest in staking rewards for individuals who prefer more of a passive approach to building crypto wealth.
Fees
0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.50% for Coinbase Pro
Investment Types
Cryptocurrencies
- Buy, sell, or store more than 170 cryptocurrencies like bitcoin and dogecoin
- Educational investment resources, mobile access, digital storage, and customer support
- Low account minimums
- Can earn rewards for certain cryptocurrencies
- Coinbase card lets you spend crypto or USD anywhere and earn crypto rewards; can deposit your paycheck into your account and convert from USD to crypto with no fees
- No crypto futures or margin accounts
- Pay more for lower balances
- Not for users who want external storage wallets crafted by personal wallet companies
- High trading and transaction fees
- Promotion: Get $5 of bitcoin when you join Coinbase
- Features: Coinbase Earn rewards, Coinbase Pro advanced account, user-controlled storage, stablecoins, staking, and institutional trading tools.
- App store rating: 4.7 iOS/ 4.3 Android
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 Crypto.com. The exchange currently provides more than 250 cryptocurrencies, with products like Crypto Earn, Crypto.com NFT, decentralized finance (DeFi) features, and much more.
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.
Fees
Maker/taker fees 0.04% – 0.40%; 0% credit/debit card purchases for first 30 days of opening account
Investment Types
Cryptocurrencies
- 250+ cryptocurrencies; support for more than 20 fiat currencies
- No fees to send crypto to other users through mobile app; separate NFT platform
- Earn up to 8% cash back on purchases with Crypto.com Visa Card
- You can set up price alerts and price movement alerts to stay updated on more than 200 assets
- No fees to deposit crypto in mobile app or exchange crypto-to-crypto
- Earn up to 14.5% per year on certain crypto assets
- Pay more for lower balances
- Crypto.com isn’t available to residents of New York
- Limited customer service for US platform
- Promotion: Get up to $2,000 for every friend you refer and 50% of their trading fees.
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 Earn 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 Crypto.com doesn’t have a Better Business Bureau profile at this time, the platform has several licenses. In fact, it says it was the first global cryptocurrency exchange to earn a Class 3 Virtual Financial Assets License from the Malta Financial Services Authority (MFSA).
As for its US services, Crypto.com currently serves users in 49 states.
