There’s more to cryptocurrency than buying and selling. If you’re building a long-term cryptocurrency portfolio, it’s important to keep your coins in a safe place and know where you stand. Coinbase and Blockfolio each take a different approach to help you fund, manage, and track your portfolio.
Coinbase makes cryptocurrency buying and selling very simple and supports around 60 different digital coins. Through a standard platform and the more powerful Coinbase Pro, the vast majority of cryptocurrency beginners, speculators, and advanced traders will find their needs well met by Coinbase. Blockfolio, on the other hand, takes a holistic approach to your entire crypto portfolio and allows you to manage coins even held outside of the platform.
Here’s a look at what you need to know about Blockfolio vs. Coinbase to pick the best home for your cryptocurrency accounts and trading.
Blockfolio vs. Coinbase: At a Glance
|Fees||No Trading Fees||$0.99 to $2.99 plus 0.50% spread (0.50% or less with Coinbase Pro)|
|Security||Bank-level security and encryption||Bank-level security and encryption|
|Wallet||Integrated software wallet||Integrated software wallet|
|Transactions Supported||Market||Market (Limit and Stop Limit with Coinbase Pro)|
|Max. Trading Amount||No limit||No limit|
Blockfolio vs. Coinbase: Ease of Use
Coinbase is an easy-to-use cryptocurrency platform suitable for beginner to intermediate users. The standard Coinbase platform is clear and gives you options to buy cryptocurrency in just a few clicks. Intermediate to advanced users should switch to Coinbase Pro which offers more trading information, trade types, and lower fees.
Blockfolio is similarly easy to use when it comes to the trading section of the app. Signing up for an account takes just a few minutes and then you can start buying and selling. The trading experience is easier than buying a stock in many brokerage apps. Note that Blockfolio doesn’t have a desktop or web-based platform. It’s only for mobile.
Blockfolio vs. Coinbase: Security
Coinbase and Blockfolio require users in the United States to submit contact information, Social Security numbers, IDs, and hold your valuable dollars and cryptocurrencies. Both companies use extremely strong security features that should put you at ease when making a deposit or completing a form.
Cryptocurrency is inherently riskier than dollars in an FDIC-insured bank account, however. Take extra care to maintain strong, unique passwords and two-factor authentication to keep all financial accounts safe. Also, double-check the address if sending crypto to another wallet, as mistakes are not fixable once the transaction sends.
Some forum commenters have discussed potential security issues with the tracking section of the app, but those are independent of the trading account. The company has also fallen victim to a few minor security issues over the years, but none impacted user account balances or data.
Blockfolio vs. Coinbase: Features
- Cryptocurrency trades: It’s hard to beat free. Blockfolio offers users access to trade over a dozen coins with no added fees or spreads. Some fees may apply depending on the funding method you choose.
- Portfolio tracking tool: Blockfolio Portfolio Tracking enables you to track your accounts at Blockfolio, multiple competing exchanges, and wallets you manage on your own through a central account. This is also a free service. This tool supports more than 500 exchanges and 10,000 cryptocurrencies.
- Free coins with some trades: If you trade $10 or more on Blockfolio, you automatically have a chance to get a random free coin. The more you trade, the more you earn.
- Cryptocurrency trades: The core Coinbase service allows you to buy, sell, and exchange cryptocurrencies. Trades cost up to $2.99 plus a spread of about 0.50% on the main Coinbase platform. The maximum fee on Coinbase Pro is 0.50%.
- Rewards and staking: If you keep certain currencies on deposit in a Coinbase account, you can earn interest. This is called “staking” in the cryptocurrency world. Rates currently range from 0.15% for USD Coin to 6% for Algorand and Ethereum 2.
- Advanced trading platform: Coinbase Pro lets you access additional trade types and lower prices through a platform designed for active traders.
Blockfolio vs. Coinbase: Currencies
For tracking and portfolios, Blockfolio supports an amazing number of coins. You can track 10,000 different cryptocurrencies in a Blockfolio tracking account. However, that doesn’t apply to trading. For trades, you get access to a list of just 21 currencies, mostly consisting of popular coins with relatively high market caps.
Coinbase supports dozens of different coins for trading. That spans from market leaders Bitcoin and Ethereum to lesser-known coins like Gitcoin and Numeraire. This isn’t the best list you’ll find among U.S. cryptocurrency brokerages, but it’s quite a bit better than Blockfolio.
Blockfolio vs. Coinbase: Fees
Coinbase makes it easy to buy many different coins, but it’s not as cheap as Blockfolio. Blockfolio charges no trading fees and no spreads when buying and selling currencies on the platform.
Coinbase does charge fees, on the other hand. The standard Coinbase platform charges between $0.99 for smaller trades up to $2.99 for larger transactions. It also includes a spread of about 0.50% between buying and selling prices that it keeps as profit.
If you opt for Coinbase Pro, the highest fee is 0.50% for trades up to $10,000. If you have deep pockets and trade more than $10,000 at a time, you may pay even less.
Both may charge fees depending on your funding method.
|ACH Deposit to Account||3 free per month, then $0.50 each||Free|
|U.S. Bank Account||N/A||1.49%|
|Debit Card||2.9% + $0.30||3.99%|
Blockfolio vs. Coinbase: Mobile App
Blockfolio only has a mobile app; there’s no web-based platform to use. The mobile app is fairly intuitive and includes everything you need to manage your account and view your other cryptocurrency portfolios.
Coinbase offers multiple mobile apps for Android and iOS. These include apps for Coinbase, Coinbase Pro, and a separate software wallet. The main Coinbase app is fairly simple compared to Blockfolio, but that goes well with its easy-to-use platform that doesn’t distract you with extra bells and whistles.
Blockfolio vs. Coinbase: Access
Both Blockfolio and Coinbase offer versions for users in the United States, which may differ from what’s available to users outside of the U.S. That may limit your access to some currencies, like XRP, which may still be available for international users.
Overall, however, any legal adult in the United States with a valid ID and Social Security number should have no problem signing up for either platform.
If you’re looking to get started with cryptocurrency at the lowest possible cost, Blockfolio may be worth considering. The low fees are a big draw over fee-heavy Coinbase. However, the platform is also a bit more complex than the simple experience at Coinbase.
Coinbase is our choice as the best option of the two for beginners, though anyone into crypto can have a good experience with Blockfolio as well. Intermediate to expert traders and investors who don’t want the spread-pricing of Coinbase and Coinbase Pro may find Blockfolio a better option.
Frequently Asked Questions
What Are Blockfolio and Coinbase?
Blockfolio and Coinbase are major cryptocurrency exchange platforms. You can create accounts to buy and sell cryptocurrencies like Bitcoin, Ethereum, and many others. Coinbase is primarily a cryptocurrency exchange that also offers a software crypto wallet. Blockfolio offers a robust cryptocurrency tracking system, similar to a budgeting app, that allows you to view all of your crypto accounts, including external ones, in one place.
How Do Blockfolio and Coinbase Work?
Both Blockfolio and Coinbase allow you to fund your account and buy cryptocurrencies. Take note that you’ll pay extra if you use a debit card or other instant-purchase methods in some cases. If you fund your account with an ACH (bank transfer), you won’t pay extra fees when making a deposit. Once your account is funded, you can buy, sell, and exchange any supported cryptocurrencies.
Who Should Use Blockfolio vs. Coinbase?
Coinbase is best for newer cryptocurrency buyers and makes the onboarding and purchase process very easy. Its education section also gives you plenty of information to make more informed investment decisions.
Blockfolio is better for more active and involved cryptocurrency fans. If you want to track multiple accounts and a more active strategy, Blockfolio’s pricing and tools are better for your needs. However, Blockfolio is mobile-only and has a more limited set of supported currencies to buy, sell, and exchange.
Can You Use Blockfolio or Coinbase with Other Crypto Exchange Platforms?
Coinbase only works with its own platforms and tools. You can easily move assets between Coinbase and Coinbase Pro, but otherwise, you’re embedded in its ecosystem, similar to any stock brokerage account.
Blockfolio allows you to view and track coins held through other exchanges and wallets. But you can only transact using the funds and currencies in your Blockfolio account.
Both platforms allow you to send and receive from outside wallets so that you can send cryptocurrencies between Blockfolio and Coinbase. However, network fees may apply.
To pick the best of Blockfolio and Coinbase, we reviewed pricing, platforms, supported currencies, trading features, customer support, and the new customer signup experience. Based on our evaluation, either platform may be a good choice, depending on your cryptocurrency goals and strategy.