- >Best Crypto Exchanges 2024
- >Coinbase vs Crypto.com: Which Exchange Reigns Supreme?
Deciding where to buy, sell and hold your cryptocurrency when you are ready to make your first purchase can be a daunting task.
There are a ton of options available to users, with various exchanges offering a variety of services, and many of them are hard to differentiate from each other. That’s where we come in, as we compare the top exchanges to help you decide which is best for your needs.
In this guide we will be comparing Coinbase and Crypto.com, so sit back as we take the load off and compare the pros and cons of these two platforms.
Coinbase Quick Overview
Coinbase is one of the oldest cryptocurrency exchanges in existence, and it was the first platform to offer an easy-to-use brokerage model for allowing users to buy and sell Bitcoin. Over time they have expanded to offer far more than Bitcoin, and a Coinbase listing has become synonymous with an asset seeing a new pump. To learn more about the exchange be sure to check out our in-depth Coinbase review.
- Beginner-friendly UI make it easy to make quick buys
- One of the oldest and most reliable exchanges
- Earn $200 in free crypto after completing sign-up process. Terms apply.
- Variety of products including exchange, staking, wallet
- Advanced Trading options for experienced traders
Pros
Simple and easy to use interface
Has different options for users depending on their level of trading expertise
Diverse options for fiat deposits and withdrawals
High liquidity
Cons
Base version of the platform has higher fees than Pro version
Platform has had issues with keeping up with high trade volume in the past
Crypto.com Quick Overview
Crypto.com came out of the MCO project which launched as an ICO in 2017. Stemming from an idea to produce a crypto credit card to fuel crypto mass adoption, they’ve expanded their value offering to include the Crypto.com cryptocurrency exchange, with lending services and staking. In addition, their mobile application is stacked with an impressive feature set with some of the most competitive offerings in the crypto space, with the crypto credit card being a key component. Check out our full Crypto.com review here.
- One-stop shop for crypto with built-in exchange, app, lending platform, debit card and more
- Native CRO token gives users a huge variety of perks and can be staked for over 10% APY
- Potential for earning high amount of interest when storing digital assets on Crypto.com
- A long-term goal of building cryptocurrency adoption on whole
Pros
Regular discounts called “Syndicate Events” offer up to 50% off coins
Soft staking allowing you to earn up to 5% on deposited assets
Staking CRO earns you up to 20% interest
Excellent UI is friendly for users
Trading competitions and participation incentives
Cons
The exchange is relatively new, not yet having proven its track record
The high staking rewards has people nervous about their business model
Beginner Friendliness
If you are a total beginner, then Coinbase is likely the better option of the two. The user interface is easy to navigate and it is a simple buy and sell platform.
The trade off here is the simple brokerage service also has much higher fees than Coinbase Pro or Crypto.com, but if you are looking to just make your first initial crypto purchase there are few better options. Coinbase Pro would be more comparable to using Crypto.com.
Trust & Security
Both Coinbase and Crypto.com offer top notch security and trust for their users.
Both exchanges hold almost all user funds in cold storage, with Crypto.com claiming to hold all funds in cold storage, with hot wallets being composed entirely of corporate funds. Both offer two-factor authentication, and both offer up to $250,000 in FDIC insurance to US citizens. You really cannot go wrong with either option here.
Fees
If we are comparing the regular Coinbase platform fees to Crypto.com’s fees then it is no contest, as Coinbase fees on their brokerage services are 1.49% or more, whereas Crypto.com fees are 0.2% or less.
However, if we compare Coinbase Pro fees to Crypto.com then we have a more even competition, as Coinbase Pro fees are 0.5% or less. Considering that Crypto.com max trading fee is 0.2%, they get the edge here.
Sign-Up Process
For first time users looking to make their first crypto purchase, both Coinbase and Crypto.com are good options, but Coinbase allows you to purchase up to $9,000 USD worth of crypto assets with only a phone verification, whereas in order to do anything on Crypto.com you will need to be verified. However, signing up using the Crypto.com mobile app is fairly simple for Know Your Customer, and once verified through the app your exchange account is automatically verified as well, so you can immediately access all features on the app and exchange once verified.
Available Cryptocurrencies
This is an extremely close comparison, as Coinbase offers just under 60 assets to users while Crypto.com offers over 65. The only way to determine which is better for you is to decide what digital assets you are looking to trade and then seeing which of the two exchanges offers either the majority or entirety of assets you are interested in, as there is overlap but still a difference in variety between the two at the moment.
Standout Features
Coinbase’s standout feature is the same as it has been since it launched, a simple brokerage service for buying and selling crypto, albeit with much higher fees than you would get through most other exchanges. You are paying for the ease of access.
Crypto.com meanwhile, has a bunch of features, though many of them are for more advanced users. They offer not only brokerage through their mobile app, they offer lending and borrowing services as well, such as Crypto Earn, or depositing collateral and taking out a loan against it on the exchange. Their soft staking for a myriad of assets on the exchange is a nice bonus as well. In addition, they offer trading competitions, and events called The Syndicate which gives users an opportunity to buy an asset at half price. Finally, they offer a Crypto Visa card, which allows users to spend their crypto and earn cash back on all purchases in the form of CRO that is available in your wallet for spending immediately.
CryptoVantage Verdict: Crypto.com Better for Long Haul
While it may be simpler to buy crypto assets through Coinbase because you do not have to be verified right away, you will inevitably need to go through a full Know Your Customer verification process at some point if you are planning to be in crypto for a long time. With that being the case, simply going through Crypto.com’s process from the beginning may take a fraction longer in terms of time, it will give you access to many more useful services that can help you grow your holdings.
So, if you are in this for the long haul, then Crypto.com is the better choice because it has better overall features.
