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Written by Rickie Houston and Tessa Campbell; edited by Sarah Silbert
Updated
2023-08-25T18:22:40Z
- Coinbase vs. Crypto.com
- Is Coinbase right for you?
- Is Crypto.com right for you?
- Coinbase vs. Crypto.com — Frequently asked questions (FAQ)
Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.
Coinbase
On Coinbase's website
Insider’s Rating
4.35/5
Account Minimum
$2
Fees
0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.60% for Coinbase Pro and Coinbase Advanced Trade
Pros
- 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
Cons
- Pay more for lower balances
- High trading and transaction fees
- Limited staking options
Insider’s Take
Coinbase is one of the best investment platforms for crypto trading, staking rewards, and crypto storage. The crypto exchange offering nearly 250 coins and tokens and is great for active real investors who can utilize Coinbase's services, account options, and investment tools.
Product Details
- Promotion: Get $5 of bitcoin when you join Coinbase; earn up to $200 when you set up a new account and make your first purchase
- Features: Coinbase Earn rewards, Coinbase Pro advanced account, user-controlled storage, stablecoins, staking, and institutional trading tools.
- App store rating: 4.7 iOS/ 4.1 Android; Coinbase Pro: 4.7 iOS/ 4.1 Android
- Awards: Named Best Prime Broker in Hedgeweek's annual European Digital Assets Awards
Crypto.com
On Crypto.com's website
Insider’s Rating
4.32/5
Account Minimum
$1
Fees
Maker fees 0.0750% - 0% and taker fees are 0.0750% - 0.0500%; 0% credit/debit card purchases for first 30 days of opening account
Pros
- 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 5% 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
Cons
- Pay more for lower balances
- Crypto.com isn't available to residents of New York
Product Details
- Promotion: Get up to $2,000 for every friend you refer and 50% of their trading fees.
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 platforms offer 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.
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.
If you're interested in investments in other types of assets beyond digital currency, you can check out our lists for the best investment apps, the best investment apps for beginners, the best online brokerages,and the best robo-advisors.
Coinbase vs. Crypto.com
-
Coinbase
-
Crypto.com
Editor's Rating
4.35/5
Min. deposit
$2
Fees
0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.50% for Coinbase Pro
Editor's Rating
4.32/5
Min. deposit
$1
Fees
Maker/taker fees 0.04% - 0.40%; 0% credit/debit card purchases for first 30 days of opening account
On Coinbase's website
On Crypto.com's website
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 73 million verified users, and $128 billion in assets across 100 countries.
Who Coinbase is Best For
Coinbase is best for active retail investors and intuitions who value flexibility and want to trade multiple cryptocurrencies. It's suitable for both experienced and beginner investors. Coinbase also offers NFTs through its new NFT platform. It's not best for investors wanting to earn abundant staking options.
Ways to Invest With Coinbase
Coinbase's investment selection includes more than 250 cryptocurrencies and a plethora of services for institutions, including the Coinbase Prime brokerage platform, Coinbase Institutional, as well as commerce services and institutional-grade offline storage.
Individual investors can access the following investment products and features on Coinbase:
- Coinbase Learning Rewards: A feature that pays you in crypto for watching educational videos and taking quizzes about the cryptocurrencies it lists.
- Coinbase Card: A Visadebit card that has no spending or annual fees. You can earn up to 4% back in crypto rewards on every purchase.
- Coinbase Borrow: A self-hosted crypto wallet that permits you to use your bitcoin as collateral to get a loan of up to $1 million. You'll have to pay back at an 8% APR, though.
- Coinbase NFT Marketplace: The new Coinbase NFT Marketplace is a beta platform that provides trading access to investors. without any transaction fees. Users can also create and mint NFTs on the platform. But 0% transaction fees are only available for a limited time.
- Coinbase One subscription: Gets you access to fee-free trades, 24/7 customer support, and market research. You can sign up for a 30-day free trial, but we're not clear on the fees Coinbase charges after the subscription ends.
Coinbase offers up to 6% interest in staking rewards for individuals who prefer more of a passive approach to building crypto wealth, but its staking selection is quite limited.
The crypto exchange gives more advanced users the option of either setting up a Coinbase Pro account, or a Coinbase Advanced Trade 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).
With Coinbase Advanced Trade, you'll get several features Coinbase Pro doesn't offer. This includes interest rewards (of up to 6%) on multiple cryptocurrencies and additional charting tools and security features.
Read Insider's Coinbase vs. Coinbase Pro review
Can You Trust Coinbase?
Coinbase currently has an F rating from the Better Business Bureau. The main reason for this rating is that Coinbase has failed to respond to over 2,036 complaints, as well as multiple lawsuits against the business.
In 2022, Coinbase agreed to a settlement with the New York State Department of Financial Services after Coinbase had allegedly failed to comply with the New York banking law and DFS regulations. Coinbase agreed to pay a $50 million penalty.
Coinbase is currently under investigation by the SEC after a lawsuit was filed against the business on June 6, 2023. The lawsuit alleges that Coinbase offered crypto trading on its unregistered national securities exchange, broker, and clearing agency. It also allowed sales on its crypto asset staking-as-a-service program. The CEO of Coinbase has denied these allegations.
Crypto.comis also a global cryptocurrency exchange. The platform was founded in 2016 in Hong Kong, and it currently serves 80 million users in 90 countries.
Who Crypto.com is Best For
Crypto.com is best for individuals wanting to invest in a huge selection of cryptocurrencies and NFTs, as well as earn higher staking rewards, use DeFi services, and access token-swapping services. Crypto.com also offers wallet storage and a limited selection of services for institutions.
Ways to Invest With Crypto.com
Crypto.com currently offers the same amount of cryptocurrencies as Coinbase (over 250 coins and tokens). It also 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.
The exchange currently offers the following products:
- Crypto Earn: 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.
- Crypto.com NFT: The new NFT platform provides information on all things NFTs, but you can't buy or sell here. You can also subscribe to the Crypto.com newsletter for upcoming launches of collectibles.
- Decentralized finance (DeFi) features: DeFi features include public blockchaintransactions 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.
- Crypto.com Card: A Visa card that offers up to 5% back on retail purchases. And its other service — Crypto.com Pay — lets you pay with crypto at more than 300 brands and 300,000 shops.
Can You Trust Crypto.com?
Crypto.com currently has an F rating from the Better Business Bureau for failing to respond to over 80 filed complaints.
On July 27, 2022, the BBB sent corresponding messages following the concerns from several Crypto.com users alleging they were unable to withdraw funds from their accounts. Crypto.com has not responded to the BBB's messages as of September 7, 2022. There are no current updates.
August 11, 2023, Glow Token LLC filed a lawsuit against Crypto.com alleging that the businesses breached contract after Glow Token was scammed out of $250,000 by Imposters pretending to be Crypto.com. Although not directly involved in the scam, Glow Token accuses Crypto.com of lacking security protocols and therefore enabling fraud, and offering no identity theft protection.
Coinbase vs. Crypto.com — Frequently Asked Questions (FAQs)
Which crypto platform is best?
That depends on what you're looking for. Crypto.com and Coinbase currently offer the same amount of investment selections. But Crypto.com also offers multiple DeFi products for advanced users.
But Coinbase offers more educational resources for beginners, and its institutional services outperform Crypto.com's. In addition to staking (Coinbase offers up to 6%), the Coinbase learning rewards 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 on its current market value.
Is Coinbase legit?
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 legit?
Yes. Crypto.com is a legitimate exchange but has only been in business for a year. You can visit the Better Business Bureau to see its rating for Crypto.com. Also, 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.
Rickie Houston
Senior Wealth-Building Reporter
Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. Before Insider, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He's contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service.
Tessa Campbell
Junior Investing Reporter
Tessa Campbell is a Junior Investing Reporter for Personal Finance Insider. She reports on investing-related topics like cryptocurrency, the stock market, and retirement savings accounts. She originally joined the PFI team as a Personal Finance Reviews Fellow in 2022. Her love of books, research, crochet, and coffee enriches her day-to-day life.
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Watch: What is crypto, and is it making a comeback?
As an expert in personal finance and investing, I have a comprehensive understanding of various financial concepts and products. I've analyzed and provided guidance on topics ranging from savings and loans to credit cards, insurance, mortgages, investing, taxes, retirement planning, and financial planning. My expertise extends to different types of accounts, such as savings accounts, CDs, checking accounts, and various loan options.
In the provided article, the focus is on comparing two popular cryptocurrency exchanges: Coinbase and Crypto.com. I'll break down the key concepts and information related to these platforms:
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Coinbase Overview:
- Services: Coinbase is a cryptocurrency exchange that allows users to buy, sell, and store over 250 cryptocurrencies.
- Account Minimum: $2
- Fees: 0.50% spread for buy/sell transactions; transaction fees from $0.99 to $2.99; up to 0.60% for Coinbase Pro and Coinbase Advanced Trade.
- Pros:
- Educational investment resources, mobile access, digital storage, and customer support.
- Low account minimums.
- Offers a Coinbase card for spending crypto or USD and earning rewards.
- Cons:
- Pay more for lower balances.
- High trading and transaction fees.
- Limited staking options.
-
Crypto.com Overview:
- Services: Crypto.com is a global cryptocurrency exchange offering over 250 cryptocurrencies, NFTs, staking, DeFi services, and a Visa card.
- Account Minimum: $1
- Fees: Maker fees 0.0750% - 0% and taker fees 0.0750% - 0.0500%; 0% credit/debit card purchases for the first 30 days.
- Pros:
- Support for 250+ cryptocurrencies and over 20 fiat currencies.
- Earn up to 5% cash back on purchases with the Crypto.com Visa Card.
- Offers staking with up to 14.5% per year on certain crypto assets.
- Cons:
- Pay more for lower balances.
- Not available to residents of New York.
-
Differences Between Coinbase and Crypto.com:
- Both platforms offer staking, spending perks, wallet services, and a wide range of cryptocurrencies.
- Coinbase is recommended for beginners and institutions looking for flexibility, while Crypto.com is better for traders seeking higher staking rewards and DeFi services.
-
Trust and Controversies:
- Coinbase has faced controversies, including a settlement with the New York State Department of Financial Services and an ongoing SEC investigation.
- Crypto.com has an F rating from the Better Business Bureau and faced a lawsuit alleging security breaches.
-
Frequently Asked Questions (FAQs):
- Answers to common questions, such as the best crypto platform, minimum investment for Coinbase, legitimacy of Coinbase and Crypto.com, and more.
In summary, the article provides a detailed comparison of Coinbase and Crypto.com, covering their services, fees, pros and cons, trustworthiness, and frequently asked questions. This information serves as a valuable guide for individuals considering these platforms for cryptocurrency investments.
