Crypto.com offers a full suite of products and services related to cryptocurrency. Like Coinbase, Crypto.com offers a rewards debit calling card, but Crypto.com has a more modernize crypto ecosystem, including operating on its own blockchain and offering its own native coin ( CRO ). While Crypto.com does have lower trading fees and can be a good choice for many investors, it besides has a $ 500 minimal withdrawal prerequisite. so if you ’ re equitable getting started and lone want to invest a few hundred dollars to start, that could present some complexity if you late decide to cash out with less than that measure. If you ’ re considering one or both of these exchanges, here ’ s more information to help you decide which is a better paroxysm .
Before You Invest In Crypto
Experts say it ’ second chic to keep your crypto investments under 5 % of your overall portfolio. Crypto prices fluctuate wildly by the day, and experts besides say you ’ vitamin d be smart not to invest more than you ’ vitamin d be very well losing if the grocery store dropped out wholly. Crypto investments should never get in the way of early fiscal priorities like saving for emergencies, paying off high-interest debt, and saving for retirement using more conventional investment strategies .
|Good for||Ease of use for buy and hold crypto investors||Beginner to intermediate cryptocurrency investors looking for additional crypto products|
|Coins||150+ cryptocurrencies||250+ cryptocurrencies|
|Fees||0.50% spread; Trading fee between 1.49% and 3.99% (or $0.99 to $2.99 flat fee)||Up to 0.40%, with discounts when you use CRO|
|Wallet storage||Keep coins on Coinbase account, Coinbase Wallet option, or transfer to your own wallet||On the exchange, in the Crypto.com Wallet, or transfer to your own wallet|
|Security features||98% of crypto assets held in cold storage, FDIC insurance for U.S. dollar amounts, two-factor authentication||Crypto assets held offline with Ledger vault, FDIC insurance for U.S. dollar balances, multifactor authentication, whitelisting and industry best practices.|
|Additional features||EarnRewards debit card||Rewards debit cardNFT investingCrypto.com PayYield farmingStaking|
|Minimum trades||$2||Equal to the smallest amount of each coin that can be traded|
Pros and Cons: Coinbase vs. Crypto.com
|Pros||• FDIC insurance on U.S. dollar amounts
• Rewards debit card
• Ability to earn rewards
• Simple interface
|• More than 250 cryptocurrencies
• Suite of financial products
• Competitive fees and discounts
• Rewards debit card
|Cons||• High fees
• Not available in Hawaii
• No control over private keys when you keep coins on account
|• Understanding fees and accessing discounts can be confusing
• Must use CRO to see the most benefits from rewards and staking
• Minimum deposit or withdrawal for bank transfer is 500 USDC
Both Coinbase and Crypto.com offer the option to store coins on the exchange using a hot wallet, equally well as providing access to noncustodial wallets. Coinbase besides offers its vault, where you can store your crypto offline without setting up your own hardware wallet. You can besides use the Coinbase Wallet on your mobile device or as a browser extension. Crypto.com gives you storage options excessively, based on how much access and control you want. In accession to the switch over ’ s custodial wallet, you could use the platform ’ south decentralized wallet where you maintain control of your password and keys. Crypto.com ’ s decentralized wallet offers you a assortment of options, including choosing a network for your transactions based on focal ratio and fees. Both exchanges have solid wallet offerings for beginners and advanced investors alike. Crypto.com likely has more options for advance traders, but at that point many investors might just ampere soon consider a third-party wallet as a wallet through their primary exchange .
Coinbase and Crypto.com both have industry-leading security measures in set. hush, no exchange is immune from hacks and these two are no exception. Both besides offer some extra indemnity coverage for investors. Coinbase makes it a point to tout its security measures, and offers educational articles to help you use tools like multifactor authentication to better secure your account. On top of that, U.S. dollar balances held on the Coinbase rally are protected by the Federal Insurance Deposit Corporation ( FDIC ). Cryptocurrency balances aren ’ t guarantee, although Coinbase has some indemnity to protect against larceny and hacks. even with relatively impregnable security system measures, Coinbase has been the aim of hacks and other issues. Toward the end of 2021, Coinbase admitted that 6,000 users were impacted by a hack that took target in May. There are besides complaints of scammers accessing personal accounts, and frustration over Coinbase ’ s reaction to stolen funds. Crypto.com besides goes to great lengths to document its security measures. Crypto.com besides protects U.S. dollar balances with FDIC insurance and customer cryptocurrencies are held offline with Ledger Vault. Despite its security measures, Crypto.com was the subject of a $ 35 million hack in January 2022. The exchange restored user funds and then moved to improve their security features. Some update measures include alerts for new payee addresses, and Crypto.com joined the Worldwide Account Protection Program, which restores a assign of exploiter funds in cases of unauthorized access.
We reached out to Coinbase and Crypto.com for comment about these issues and for more data, but received no reception. We ’ ll update this comparison if Coinbase or Crypto.com get back to us. Both Coinbase and Crypto.com are relatively fasten and offer becoming protections for consumer funds in the consequence of a hack .
Coinbase offers more than 150 cryptocurrencies, while Crypto.com offers more than 250 cryptocurrencies, including its native mint, CRO. Coinbase does offer CRO excessively if you ’ re concern in the coin itself but prefer to engage with this exchange. If you ’ ra looking for entree to a wider variety of available cryptocurrencies, Crypto.com is the clear choice .
Crypto.com uses a tiered maker/taker model for fees, while Coinbase uses a flat fee structure. Coinbase ’ second structure is broadly more expensive and depends on how big your transaction is, a well as what payment method you use .
In the maker/taker exemplar, when a buyer places an order that isn ’ deoxythymidine monophosphate fulfilled immediately, they are considered a manufacturer as their order results in more fluidity for the substitute. By contrast, when person places an orderliness that is matched immediately, they are considered a taker. A taker generally pays higher fees than a manufacturer. Crypto.com fees can be up to 0.40 %, and you can get a deduction using CRO to pay your fees. Navigating how Crypto.com ’ randomness fees work and how to access the discount by paying fees with CRO can be difficult. Keep in heed that if you want to withdraw from the rally into your bank report, you ’ ll need to use a minimum of 500 USDC ( $ 500 ). This could be a deterrent if you ’ re not looking to get in that thick, but if it ’ s not an consequence, Crypto.com could silent be the right option for you. Finding the tip schedule on Coinbase can besides be difficult and you ’ ll pay some humble costs based on transaction amounts. For example, the flat tip on a transaction of $ 10 or less is $ 0.99, but the flat fee on a transaction amount between $ 50 and $ 200 is $ 2.99. Beyond a flat fee, you can be charged a percentage of the transaction based on requital method. If you use a debit card or PayPal, you ’ ll pay a higher percentage than if you use your savings bank account or Coinbase USD Wallet. Coinbase offers its Coinbase Pro exchange, which uses a tiered maker/taker model, but that is a classify arrangement. once you figure out the fees and discounts, Crypto.com is likely to cost you less in fees than Coinbase .
Staking, Credit Cards, Other Options
Both Coinbase and Crypto.com offer Visa rewards debit cards that allow you to earn crypto for each purchase you make with the calling card. You can impale coins on both and meet matter to paid in that particular mint. however, with Crypto.com you need to allocate coins to its Earn have, while Coinbase allows you to earn staking matter to barely by holding the coins. Coinbase besides offers you the prospect to earn free coins by learning about them. Watch a few video, and you ’ re rewarded with coins that you can then trade for other coins or cash out for decree currency. In summation to bet on and a debit menu, Crypto.com offers some products and services that Coinbase doesn ’ triiodothyronine leave :
- NFTs: Access different NFTs, including collections and drops. Coinbase allows you to store NFTs in your wallet, though it doesn’t have a robust NFT marketplace.
- Pay: Use the Crypto.com network to receive payments as part of your business, or to buy goods and services from others. You don’t need to worry about gas fees and you can get a bonus of CRO to use later.
- Yield farming: Lock up your coins to earn even more by providing liquidity to the exchange and other projects. This offers a higher potential return than staking.
If you ’ re good looking to buy and hold and keep things simple, Coinbase offers easily venture and the opportunity to use a debit menu to boost crypto rewards. Crypto.com, on the other hand, has a richer cortege of crypto-related products and services if want to integrate crypto more into your life .
How to Decide Between Coinbase and Crypto.com
We see Coinbase as a better choice for more investors, and specially beginners. Crypto.com will give you more products and services, including the casual to earn returns via concede agrarian ( though you need to be content with most of your rewards and benefits being paid out in CRO ). additionally, Crypto.com will likely save you more on fees. But if you ’ re a true founder, you may do better with Coinbase, as its interface is easier to use, and you can set up all aspects of coin memory — including offline storehouse in the Vault — without setting up your own hardware wallet or find other solutions. eminence that Coinbase is not available in Hawaii.