Crypto.com vs Coinbase: Best Crypto Exchange in 2023?

Crypto.com and Coinbase are two of the most popular cryptocurrency exchanges in the world.

Both exchanges have their pros and cons, but how do they compare? Read on to learn more about both platforms and why they might be right for you.

Crypto.com vs Coinbase: Head to Head

If you want to get started with crypto trading, you’ll need a platform that offers the best experience possible.

Crypto.com offers all kinds of tools for beginners and experts alike, including a mobile app that makes it easy to trade on-the-go, as well as an exchange for professional traders who want more control over their investments than what is available through the mobile app alone.

On the other hand, Coinbase focuses primarily on buying and selling Bitcoin, Ethereum and Litecoin although it does include other cryptocurrencies if you want to diversify your portfolio along with providing its own wallets for storing these assets.

While both Crypto.com and Coinbase offer similar features that make it easy to buy digital assets using fiat currency (USD) or credit card payments, there are several key differences between the two.

Trading Fees     

The best way to compare these two exchanges is by looking at their trading fees. Both platforms offer very low trading fees, which makes them attractive for traders who are looking for an alternative to traditional stock exchanges or Forex brokers.

Crypto.com charges 0% on both deposits and withdrawals from other crypto wallets, but it charges 1% on all trades performed on its platform (including those from fiat).

Coinbase also charges 0% on deposits from other wallets and bank accounts (except when using a credit card), but it charges 1% on all transactions carried out through its platform (including those made with fiat).

Cryptocurrency Available           

 Crypto.com (MCO) and Coinbase are two of the most famous cryptocurrency exchanges. They both offer many benefits, but which one is better?

Crypto.com is a crypto-to-crypto exchange, meaning it only supports cryptocurrencies to be traded with each other, not fiat currencies such as the U.S. dollar or Euro.

Crypto.com supports over 50 cryptocurrencies and has a user base of over 2 million users. One of the benefits of using Crypto.com is that users can store their private keys in cold storage on their own devices instead of relying on another party to store them for them like Coinbase does with its vault service, which we’ll discuss later on in this guide.

Coinbase’s main benefit is that it allows users to buy cryptocurrencies with fiat money (USD). Coinbase also provides an online wallet service called Coinbase Vault that allows customers to store their private keys online instead of on their own devices (with certain exceptions).

This makes it easier for people who aren’t comfortable storing their own private keys to still access the benefits of cryptocurrency exchanges (like buying/selling coins).

Wallets

 Coinbase and Crypto.com are two of the biggest cryptocurrency exchanges in the world. Both have been around since 2012, but they’re not exactly similar.

While Coinbase is a centralized platform, Crypto.com is a centralized exchange with a decentralized wallet.

To make things more confusing, Crypto.com has recently announced that it’s launching its own cryptocurrency debit card.

It will also offer banking services, but these are still in development at the moment.

So which one should you choose?

Coinbase doesn’t offer any type of wallet service; it only lets you store coins on its platform or sell them back into your local currency (e.g., dollars or euros).

This means that if you want to keep your coins safe from hackers or other types of cyber attacks, then you’ll need to transfer them off the platform which can be tricky for inexperienced users who don’t know where to look for other options.

Platform Security           

Coinbase is one of the largest cryptocurrency exchanges in the world with over 20 million users worldwide.

The platform was founded by Brian Armstrong and Fred Ehrsam in 2012 and has become one of the most popular destinations for buying and selling cryptocurrencies online.

It’s important to note that Crypto.com is not directly affiliated with Visa or Mastercard, but it does offer Visa-branded debit cards which can be used at over 40 million merchants worldwide as well as ATM withdrawals at any Visa ATM across the globe (subject to daily limits).

The two platforms are very different when it comes to fees, security protocols, supported currencies/coins and more, so let’s take a closer look at Crypto.com vs Coinbase head to head:

Ease Of Use       

 Crypto.com strives to be the most user-friendly cryptocurrency exchange, and it’s doing a pretty good job at it. The interface is clean and easy to use, and there are no hidden fees.

Coinbase is also very straightforward, with only two account types (individual and business), no account minimums, and no trading fees for regular purchases of crypto.

Coinbase has been around since 2012 so it’s not exactly new but Crypto.com has only been in operation since 2018.

It’s still fairly small compared to Coinbase, which has over 30 million users worldwide (including nearly 20 million users in the U.S.). Both exchanges are available in more than 100 countries worldwide Crypto.com is currently available in 42 countries and Coinbase in 32 countries (plus 5 U.S. territories).

There are some differences between their services:

• Crypto.com offers its own branded credit card to buy cryptocurrencies with fiat currencies; Coinbase does not offer this service.
• If you want to buy cryptocurrencies using your bank account, Coinbase will require a 3D-Secure authentication process; Crypto.com doesn’t require this step.
• Some countries have added restrictions on cryptocurrency exchanges; this includes China.               

Crypto.com vs. Coinbase – FAQ

 What is Crypto.com? Crypto.com is a crypto wallet, and crypto debit card provider focused on the Asia Pacific market.

The company launched in 2016 in Hong Kong, but moved its headquarters to the UK mid-2018 due to regulatory differences between Hong Kong and mainland China.

It’s backed by several venture capital firms, including Polychain Capital, Binance and others.

 How does Crypto.com vs. Coinbase work? Crypto.com and Coinbase are two of the largest exchanges for purchasing cryptocurrencies.

Both offer mobile apps and a variety of payment methods, but how do they differ from each other?

 As cryptocurrency continues to grow, so does the number of services available to help you invest. Crypto.com and Coinbase are two of the most popular platforms on the market. Both offer mobile apps, easy signups and Bitcoin-to-fiat purchases.

What Are Altcoins?       

  An altcoin is a cryptocurrency other than Bitcoin. The term altcoin is a combination of the words “alternative” and “coin” because it comes from Bitcoin.

So every time someone talks about an altcoin, they mean another digital currency that is not based on Bitcoin code or technology

   

 So you want to buy Bitcoin, or other cryptocurrency. You’ve done your research and you’re ready to dive in.

 We are often asked by our customers where we stand on the differences between altcoins and Bitcoin. The main difference is that, while both are decentralized and open source, a “coin” is much smaller in size, while an “altcoin” is a variation of Bitcoin.

Both can be mined and/or staked, giving users a chance to earn coin rewards through proof-of-work (like Bitcoin) or proof-of-stake (like Ethereum).

 What are altcoins? Altcoins or alternative coins, or just “alt coins” for short, are simply any cryptocurrency other than bitcoin. The first altcoin was Namecoin in 2011.

These days there are many more cryptocurrencies out there with many new ones being created daily.

What Does Annual Percentage Yield (Apy) Mean In Crypto?       

 The Annual Percentage Yield (Apy) of a Crypto.com product is the interest rate that the platform pays on your deposit. You can compare how much you earn with different accounts to see if you’re getting the best deals on interest rates.

 It is important to understand how annual percentage yield (Apy) is calculated in crypto. It helps determine how much your initial deposit should be when you buy cryptocurrency.

Here’s a quick guide on how you can calculate it yourself.

 Annual Percentage Yield (APY) is a financial term that you may have heard before. It is simply the return you earn on your investments or savings in the form of interest, expressed as a percentage

It’s basically the interest rate charged on an ordinary savings or checking account and it lets you compare different interest rates based on their annual percentage yield. When you’re choosing between different cryptocurrency exchanges, Crypto.com takes into account your Py (how much money you put in), Apy (your py after a year), Apd (generally volatility) and DvP (volatility protection). This means that Crypto.com can help you choose the best crypto exchange for your needs.

Are Private Keys Needed, And Do They Increase Security?          

 Some private keys are needed to prove who you are and make digital transactions, but they don’t increase security. This is the case for all cryptocurrencies that use private keys such as Bitcoin, Bitcoin Cash, Litecoin, Dash, Zcash and Ripple.

You only need your public key to receive payments from another user or business. The public key can be found on an individual’s personal blockchain or wallet address with any associated cryptocurrency that uses them.

 Private keys allow you to access your coins on a blockchain network. By storing the private keys to your funds, you prove ownership of the account they are connected to.

Control over your private keys means control over your funds and ultimately, control over your identity on a cryptocurrency network. We recommend keeping these private keys stored in an offline medium, like a hardware wallet or paper wallet.

 Only the private key can open a specific wallet. This is called “behind-the-scenes” security.

However, many people believe that private keys are secure because they cannot be physically stolen, which may make them less likely to protect their assets.

 Private keys are a series of characters that only the owner has. No one else in the world will have exactly the same private key, which ensures an increased level of security.

However, this also means that somebody must take responsibility for watching over their own private keys at all times.

What Is The Ethereum (ETH) Blockchain?            

 The Ethereum (ETH) blockchain is a decentralized public ledger for transactions that have taken place between users of an app or service.

The Ethereum (ETH) blockchain does not store data about the transaction itself, but rather about the result of the transaction that could be information on property or identity, who owns an asset and how much it is worth.

 It is the world’s second largest blockchain. It is where digital distribution of data occurs.

This is also where new cryptocurrencies are created. You can use it to send and receive transactions and contracts seamlessly, but only if you use a wallet that supports it.

 The Ethereum (ETH) Blockchain is a shared ledger that records and verifies transactions between two parties in a permanent, tamper-resistant way.

It is a decentralized record of transactions that is maintained by a consensus of computers on the network.

 The Ethereum (ETH) Blockchain is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

The network of computers that run Ethereum is called the ‘Ethereum Virtual Machine’ and it stores, processes and secures these smart contracts in order to enable cryptocurrency transactions.

 The Ethereum Network is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.

The ether is used to power the network; it is a necessary element — a fuel — for anyone wanting to build upon or use the Ethereum platform.

This enables developers to create markets, store registries of debts or promises (like payment-based crowdfunding), move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.

What Does Staking Mean?         

 Staking, in the cryptocurrency context, is a way for investors to help secure their blockchain network. Users can earn cryptocurrencies by running masternodes or locking up funds as part of staking pools.

This is the reason why Crypto.com provides more than just a wallet as it additionally let you make use of a Staking Wallet – which allows you to stake different cryptocurrencies for free! A good example of staking would be mining Bitcoin but without the expensive hardware and electricity costs associated with mining it.

 What does staking mean? Do you have to hold coins and earn interest? Is it the same as mining? How much interest can you earn by staking crypto coins?

These are some of the questions we’ve looked at today to help you understand what staking is, why it’s important, and how it can help improve your security while giving you a reward.

The private key to your wallet holds all the power over your funds.

 Cryptocurrency benefits from a variety of community-driven technologies such as staking, which allows users to earn rewards for supporting a network.

Staking allows users to earn passive income for their holdings, thus incentivizing users to invest in the cryptocurrency and help strengthen the network.

 Staking is the process of verifying transactions on blockchain networks. When you stake, your own PC or laptop acts as a personal node and participates in the validation of transactions.

The amount you gain for staking depends on the amount of coins you are holding, as well as their price.

Crypto.com vs. Coinbase – Wrap Up

Crypto.com is a cryptocurrency exchange, which means it helps users buy or sell digital currencies like Bitcoin, Ether and Litecoin.

The primary benefit of Crypto.com is that it is one of the only exchanges to support all major cryptocurrencies.

This allows users to easily diversify their portfolio with different coins on one platform.

Coinbase is a digital currency wallet and platform where people can trade cryptocurrencies like Bitcoin, Ethereum and Litecoin.

Users can store their cryptocurrency on Coinbase’s website or mobile app, or they can use Coinbase’s hosted wallet service for more secure storage.

Crypto.com supports over 100 different cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin as well as many other altcoins like Monero (XMR), IOTA (MIOTA) and more.

The exchange also offers advanced trading tools that make it easy to use while giving its users access to advanced charting tools that allow them to keep track of current prices in real time.