Crypto.com vs. Coinbase

Crypto.com is designed more for experienced crypto traders

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Coinbase is the most popular U.S.-based cryptocurrency exchange and one of the largest exchanges in the world. The platform is mostly for buying and selling cryptocurrencies. Crypto.com is a smaller, newer exchange app with a variety of other features like crypto lending, trading competitions, and a native token that provides users with certain benefits, such as lower fees and cashback rewards on a Crypto.com credit card. Crypto.com can only be used as a mobile app; there is no web-based interface. 

Crypto.com could be the best option for those who want more than just the ability to buy and sell crypto. More experienced traders or anyone looking for more advanced services might prefer Crypto.com. 

Coinbase is likely to be the better option for beginners who have little to no experience with cryptocurrency. The platform makes things as easy as possible for those looking to make their first crypto purchase or set up recurring buys. 

We reviewed Crypto.com versus Coinbase based on supported currencies, security, fees, features, and more to help you decide which might be the best choice for you.

Crypto.com vs. Coinbase: How Do They Compare?

Crypto.com vs. Coinbase
Crypto.com vs. Coinbase

Crypto.com


Crypto.com

 Crypto.com

Pros
  • Pays high interest on some crypto deposits

  • One-stop shop for many features like exchange, mobile app, lending, and more

  • Native token (CRO) reduces transaction fees for users

Cons
  • A newer exchange with less of a proven track record

  • High staking rewards add to uncertainty about the business model

  • No educational materials

Coinbase


Coinbase

Coinbase

New Coinbase users can get $10 in BTC when they sign up (and verify) for an account using BALANCE10. Expires 12/30/21.

Pros
  • Easy to use for beginners

  • Strong track record and reputation for security

  • Can be used as a web app

Cons
  • Some of the highest fees in the industry

  • Limited features

  • Smaller selection of currencies

At a Glance

  Crypto.com Coinbase 
Fees 0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, plus 2.99% for credit card purchases Up to 0.50% spread per trade, 3.99% for credit card purchases, and 1.49% for Coinbase wallet or bank account purchases
Currencies  91  74 
Security  Two-step verification, FDIC-insured USD balances up to $250,000, platform insurance against theft, nearly 100% of funds held in cold storage, and maintains an ongoing bug bounty program  Two-step verification, FDIC-insured USD balances up to $250,000, platform insurance against theft, 95% of funds held in cold storage, and maintains an ongoing bug bounty program 
Wallet  Multi-factor authentication and AES-256 encryption  AES-256 encryption and multi-signature wallets 
Transactions Supported  Buy, sell, send, receive, withdraw, and exchange  Buy, sell, send, receive, withdraw, and exchange 
Max. Trading Amount $1 million or 30 trades per month  Limits vary based on payment method and region 

Crypto.com vs. Coinbase: Ease of Use

Coinbase is designed for novice crypto users. The interface is as simple as can be, and buying/selling are the main activities that take place on the exchange. Users can achieve extra security by placing their crypto into a cold storage, multi-signature wallet that requires verification from two emails and a 48-hour holding period for withdrawals. Using this feature could confuse less tech-savvy users, but that’s about the only thing of this nature. 

Beginners could use Crypto.com for the basics, too, but the platform offers several more advanced features that first-time users aren’t likely to be interested in. The Crypto.com interface for buying and selling crypto should still be simple enough for newer users.  

Crypto.com vs. Coinbase: Security

When it comes to security for Crypto.com versus Coinbase, it’s hard to pick a winner. Both have high standards and follow industry best practices. It can be said that Crypto.com goes the extra mile when it comes to securing customer funds, although Coinbase has never had security problems and they have been around longer than Crypto.com. Let’s look at the details.

The standard wallet provided by Coinbase is a hot wallet that can be used for easily sending or receiving crypto. Users who plan to hold their coins for the long term, however, can opt to use Coinbase “vaults.” Vaults are Coinbase’s term for their cold storage, multi-signature wallets. 

Both platforms hold the vast majority of customer funds in cold storage for increased security. Coinbase claims to hold 95% of funds in cold storage. 

Crypto.com claims to hold 100% of funds in cold storage. They accomplish this through a partnership with Ledger, the security company most well known for its crypto hardware wallets. Crypto.com’s integration with Ledger Vault and hardware security results in an institutional-grade custody solution for customers. This begs the question: How does Crypto.com process withdrawals for customers?

The answer involves hot wallets with corporate funds. While 100% of customer funds are held in cold storage, Crypto.com has hot wallets that hold corporate funds for processing withdrawal requests from customers. These hot wallets are also controlled by hardware modules and require multiple signatures for transactions.  

Crypto.com vs. Coinbase: Features

Coinbase only has the most basic features available. For most of its history, the company simply allowed users to buy and sell bitcoin and other cryptocurrencies. Over time, they have added features such as:

  • Automatic staking services for some proof-of-stake coins
  • Interest-earning wallets for the USDC and DAI stablecoins
  • Crypto lending services
  • Price alerts
  • Educational materials regarding crypto

That sums things up in terms of Coinbase features. The things Coinbase offers benefit users who would like to adopt a “set it and forget it” mentality to their crypto. The platform makes it easy to get started, set up recurring buys, stake some coins or earn interest on stablecoins, and move on. The company is also working on a crypto-backed debit card, although that product has yet to launch at the time of writing. 

Crypto.com offers all the same features that Coinbase does, plus a few more. Crypto.com already has five different debit cards to offer customers, with cashback rewards varying from 1% to 5%. ATM withdrawal limits vary from $200 to $1,000 per day. 

Crypto.com offers lucrative “Earn” accounts that yield up to 8.5% APY interest on crypto and up to 14% on stablecoins like USDC. By comparison, USDC held in a Coinbase wallet earns 0.2% APY. 

One notable and unique feature of Crypto.com is an automated trading platform. This feature can be accessed for free and provides customers with specific trading strategies provided by Crypto.com.

There are also a number of more advanced, niche features that can be used on Crypto.com. These include services for things like buying and selling NFTs (non-fungible tokens), a DeFi wallet that lets users swap and farm DeFi tokens while maintaining ownership of their own private keys, and a “pay for business” feature that lets merchants accept crypto as payment.

Crypto.com vs. Coinbase: Currencies

While Coinbase has expanded its selection of cryptocurrencies in recent years and continues to do so, Crypto.com offers a greater selection of currencies overall.

Crypto.com offers Bitcoin and 90 other cryptocurrencies as well as over 20 different fiat currencies (although fiat currency withdrawals are not currently supported). Coinbase offers 66 cryptocurrencies, or 74 if you include what Coinbase Pro offers.

Here are some currencies that Coinbase offers but Crypto.com does not: BSV, CGLD, CVC, DNT, GNT, LOOM, NU, OXT, REP, and ZEC.

Crypto.com also supports 223 additional tokens through its DeFi wallet. 

Crypto.com vs. Coinbase: Fees

Coinbase has a variable fee structure but generally charges 1.49% for purchases and sales.

Crypto.com charges 0.2% for trading fees. Frequent traders could pay less. Crypto-to-crypto trades and crypto deposits are free.

Here is a breakdown of some of the fees for the two platforms:

  Crypto.com Coinbase 
Bank Account Free 1.49%
Debit/Credit Cards  2.99% to 3.99%  3.99% 
ACH Transfer  Free with $20 minimum  Free 
Wire Transfer  Free with $5,000 minimum  $10 for deposits, $25 for withdrawals 
Crypto Conversion  Free  Up to 2% spread 
Trades  0.04%-0.16%. Maker-taker model based on individual trading volume, plus an undisclosed spread  Fixed rate of $0.99 to $2.99 or 1.49%, whichever is greater 

Crypto.com is the clear winner here, with fees across the board being much lower than on Coinbase.

Crypto.com vs. Coinbase: Access

Coinbase can be used by anyone in 36 different European countries, the U.K., Australia, Singapore, Canada, and the U.S. Residents of Hawaii aren’t able to use Coinbase, and residents of New York won’t have access to 12 different coins.

New York residents can’t use Crypto.com at all, but Hawaii residents can. Citizens of over 80 countries can also use Crypto.com, including  the U.S., Canada, Singapore, Australia, and the U.K.

Final Verdict

After evaluating Crypto.com versus Coinbase, it’s hard to conclude which one can be considered the better exchange. It depends on what someone is looking for. Those who are brand new to crypto would likely find Coinbase more appealing. And anyone wanting a web-based interface would by default have to choose Coinbase. Aside from those two caveats, Crypto.com has a lot more to offer for most other users.

With a larger selection of currencies, greater availability worldwide, lower fees, and an array of interesting features that can be hard to find on any single platform, crypto veterans will choose Crypto.com more often than not.  

Frequently Asked Questions (FAQs)

What Are Crypto.com and Coinbase?

Crypto.com and Coinbase are cryptocurrency exchange platforms. People use platforms like these primarily for buying, selling, and trading cryptocurrency, whether that involves fiat-to-crypto transactions or crypto-to-crypto transactions. 

There are also a variety of other reasons to use exchanges, particularly those like Crypto.com that serve as a kind of one-stop shop for crypto-related services. Obtaining crypto-backed debit cards or crypto-backed loans, staking proof-of-stake coins, and accepting cryptocurrency payments as a business are just a few of the possible features users might be interested in taking advantage of. 

How Do Crypto.com and Coinbase Work?

Crypto exchange platforms enable users to buy/sell and send/receive cryptocurrency. These are the main services that define a crypto exchange. Over time, as the industry has evolved, so too have exchanges. Many now offer a variety of services in addition to the basics. Exchanges have begun to resemble fintech startups that compete with traditional banks in certain ways.

Who Should Use Crypto.com vs. Coinbase?

Beginners should consider trying Coinbase first. The exchange can be accessed via web browser and has limited features, creating fewer chances for confusion. Most other users should consider Crypto.com as a better option. While its availability only as a smartphone app could turn off some potential users, the lower fees and extra features could be appealing.

Methodology

When reviewing Crypto.com versus Coinbase, we compared each platform based on ease of use, fees, security, features, geographical access, and supported currencies. We also took into account the type of user that would get the most out of either exchange.

While Crypto.com and Coinbase are both secure exchanges that any beginner could use, Crypto.com has more of a learning curve, and its wide selection of features could be overwhelming. Coinbase has a simple interface and plenty of educational materials, making it ideal for beginners. For many experienced users, though, the lower fees and added selection of products will make Crypto.com the better choice.

Article Sources

  1. CryptocurrencyExchanges.com. "Crypto.com Review: Crypto Exchange & App Guide." Accessed July 7, 2021.