Coinbase and Crypto.com are two popular, well-established and trusted crypto exchanges. Regarding the ‘Coinbase vs Crypto.com’ comparison, it’s essential to know what we are looking for in an exchange.
For example, if you want to purchase Bitcoin (which we advise and are highly against buying any other alternative cryptocurrency), we recommend going to more Bitcoin-friendly exchanges like Kraken.com. For more advanced users, purchase Bitcoin at hodl hodl or Bisq.network because they don’t require KYC.
FTX is another option since they don’t charge fees on fiat deposits, but you can’t withdraw your coins for a week.
We have covered both in-depth despite what we’ve said; if you still want to continue with the article and read more about Coinbase and Crypto.com and how they compare.
In this Crypto.com vs Coinbase article, we will compare things like exchange rates & withdrawal fees, crypto-backed debit cards, customer service responsiveness, trust and availability & diversity of altcoins. Let’s dive in.
Crypto.com vs Coinbase: Pros & Cons and Verdict
First of all, let’s see if either of these exchanges offers anything special or unique. We’ve created a chart that compares the main features and characteristics of both exchanges.
Crypto.Com currently supports more than 200+ cryptocurrencies. They indeed list many coins, and an average user has a lot to choose from, but 90% of them are scams, so try to focus solely on Bitcoin. Otherwise, invest at your own risk. Also, like other centralized exchanges, Crypto.Com requires KYC from its users.
Upon its launch, Coinbase was a promising, pro-Bitcoin exchange that played an important role in the awareness, adoption and popularization of Bitcoin. Today, the company’s priorities & values have changed, and its current stance is firmly against what Bitcoin stands for. Lastly, take a look at this recent document that clearly shows what Coinbase has turned into:
This is not to scare you off but to ensure that you completely understand what is going on and what may happen in the future. To sum this up, if you still decide to use Coinbase (which is quite user-friendly in terms of the website and mobile app UI), immediately transfer your Bitcoin or alternative cryptocurrencies into cold storage.
Crypto.com Fees vs Coinbase Fees
Crypto.com and Coinbase both use the simple maker-taker model. Crypto.com charge rates are from 0.04% to 0.4% for maker fees and 0.1% to 0.4% for taker fees. As for Coinbase, their maker fees range from 0% to 0.4%, and taker fees are from 0.05% to 0.6%. Note that investors have to pay additional fees for using credit cards for fiat deposits.
NOTE: People wanting to day-trade stay away from both exchanges. If you’re going to use either of them, we advise upgrading to Coinbase Pro, which offers better fee rates. Below, the table illustrates the current Coinbase Pro fees (which also use the maker-taker fee model). If you want to understand how this works, check out this Coinbase resource.)
|Pricing Tier||Taker Fee||Maker Fee|
Our top choice for day-trading is Bitfinex, the most trusted, secure and widely-used (by whales and traders) crypto exchange.
Coinbase vs Crypto.com: Security
Since crypto exchanges, there have been numerous cases of theft, bankruptcy, scam-exists and fraudulent activities. It’s our top priority to trade on a secure platform. Let’s see what’s going on with Crypto.com and Coinbase and discuss their security breaches in the past.
Coinbase Security Review
Coinbase was founded in 2012, and it’s a publicly-traded company ($COIN NASDAQ). Coinbase is relatively safe, and there haven’t been significant security breaches. However, there are thousands of cases of customer service unresponsiveness, account locks and withdrawal delays. More information about such instances can be read on Coinbase’s Subreddit.
However, Coinbase has since upgraded its customer service and added new staff members to handle the high-volume support tickets. In short, Coinbase is safe, but we strongly advise against holding your assets on the exchange.
Coinbase also offers its vault for crypto storage, where you can store your assets offline without setting up your hardware wallet.
On top of this, Coinbase uses 2FA authentication and mobile phone authentication and is insured by Federal Deposit Insurance Corporation (FDIC) on USD balances. Coinbase runs a bounty program to find any weaknesses in its system.
Crypto.com Security Review
Crypto.com says they keep 100% of the funds in air-gapped cold storage (thanks to their partnership with Ledger). Still, as we have mentioned at the begging of this article, Crypto.com was subject to a $35M hack in January 2022.
The good thing is that Crypto.com made its users whole and restored all the stolen funds. They went even further and upgraded their security measures to prevent something similar from happening in the future.
Compared to Coinbase, Crypto.com is not as safe due to this particular security breach, but it can be acceptable for simple crypto purchases or trades. However, never store or HODL your assets on Crypto.com. In case a similar hack happens, you might get rekt.
Like Coinbase, Crypto.com also offers cold storage options, which are handled by Ledger Vault but storing cryptocurrencies except for Bitcoin on Ledger also introduces the possibility of security weaknesses since altcoins are not as secured as Bitcoin. Crypto.com operates on its Blockchain, which is quite vulnerable to attacks.
Coinbase Card vs Crypto.com Card
Coinbase and Crypto.com offer Visa debit cards which are pretty cool since it makes it possible to spend your assets at shops, restaurants, online or anywhere in the world (where Visa is accepted). On top of this, Coinbase offers 4% cashback on every purchase, and the Crypto.com Debit card provides various options, which are dependent on how much CRO you stake. More information about this can be viewed at Crypto.com’s website. Let’s take a deeper dive:
Coinbase Card Review
Coinbase Card is a Prepaid Debit and can be issued once per Coinbase account. Coinbase offers up to 4% cashback on every purchase, and you can earn rewards in numerous assets (if you decide to get the card, we would advise you to choose bitcoin as a reward currency). There are no annual fees associated with the Coinbase Card.
MetaBank® issues the Coinbase Card, N.A., Member FDIC, pursuant to a license from Visa USA Inc. Marqeta powers the Coinbase Card.
How does the Coinbase Card work? It works like any other traditional debit card. Still, instead of fiat, it uses a cryptocurrency for payment (Coinbase automatically converts your choice of cryptocurrency into fiat whenever you make a purchase).
Coinbase announced that they removed fees associated with non-USDC assets. This gives you the freedom to spend in any currency you want and not focus on USDC transactions.
On top of this, Coinbase Card allows US citizens (except in Hawaii) to convert their paychecks into any cryptocurrency directly with them, without any fees).
The Coinbase mobile app is quite intuitive and has excellent features. You can quickly check your balance, change reward currency (For example, from Bitcoin to Ethereum), track your spending habits, set up notifications, etc.
Coinbase Card is a decent product with some exciting features and reward systems (for example, free ATM withdrawals). Still, we are against storing funds there or anywhere else, apart from cold storage.
Crypto.com Card Review
The Crypto.com Card functions quite differently from the Coinbase Card since it has ‘Tiers’. To better understand what this means, take a look at the table below:
|TIER||CRO STAKE||CRO REWARDS|
|Royal Indigo and Jade Green||$4,000||3%|
|Frosted Rose Gold and Icy White||$40,000||5%|
To get the most out of our Crypto.com cards, the company encourages us to invest and stake as much CRO we can afford, which, in return, will give CRO rewards on cashback & staking.
Here’s what you can get on your specific card type:
|Spotify fee reimbursement||Frosted Rose Gold/Icy White, Obsidian, Ruby Steel, Royal Indigo/Jade Green||Up to $12.99 per month|
|Netflix fee reimbursement||Frosted Rose Gold/Icy White, Obsidian, Royal Indigo/Jade Green,||Up to $13.99 per month|
|Amazon Prime fee reimbursement||Icy White Obsidian/Frosted Rose Gold||Up to $12.99 per month|
|Expedia reimbursements||Obsidian, Icy White/Frosted Rose Gold||Up to 10% of each purchase with a $50 limit per month|
|Airbnb reimbursements||Obsidian||Up to 10% of each purchase with a $100 limit per month|
|Unlimited LoungeKey airport lounge access||Frosted Rose Gold/Icy White, Obsidian, Royal Indigo/Jade Green||Can bring one guest with a Frosted Rose Gold, Icy White, or Obsidian card|
|Crypto.com Private services||Obsidian, Frosted Rose Gold/Icy White||N/A|
|Exclusive merchandise welcome pack||Obsidian, Icy White/Frosted Rose Gold||N/A|
|Private jet benefits||Obsidian||Valid on the first flight with a private jet partner of Crypto.com|
|Free ATM withdrawals||All tiers||Between $200 and $1,000 per month based on card tier|
These perks are pretty good if you can afford the required card tier. Like the Coinbase Card, Crypto.com doesn’t charge annual card maintenance fees.
In our opinion, one of the most significant drawbacks (apart from their security breach) of using the CRO card is that you can’t earn cashback & rewards in Bitcoin. The whole ecosystem is limited to their native token, CRO. You can always trade or sell, but it’s still essential to have the ability to choose Bitcoin.
We would say that Crypto.com is a little less trustworthy than Coinbase. If we had to choose either of these two, we would go with Coinbase due to its reputation and, so far, impenetrable security.
Crypto.Com vs Coinbase vs Binance
We have discussed the most critical and frequently-asked topics about ‘Coinbase vs Crypto.com’. Let’s see how these two compare with another powerful competitor, Binance:
There are some advantages to using Binance over Coinbase and Crypto.com. For example, many are interested in the BNB ecosystem and frequent events & lotteries from the Binance Exchange. It’s still the largest crypto exchange globally that also suffered a severe security breach in 2019.
Coinbase vs Gemini vs Crypto.com
Gemini is another robust crypto exchange that the Winklevoss twins founded. Gemini is a prominent figure on the market, and the company positions itself as a bitcoin-friendly, highly-secure crypto exchange.
Gemini has special offers for its GUSD users and supporters. You can use the Gemini Dollar to transact on decentralized exchanges, provide liquidity and earn high yields in DeFi.
In short, it’s a great company and can compete with any significant centralized crypto exchange on the market.
We have discussed the significant advantages and disadvantages of Crypto.com vs Coinbase. We analyzed and reviewed their fee structures, security levels, user-friendliness and competitors.
Coinbase and Crypto.com have been around for quite a while, and both are trusted and well-established companies on the market. If we had to choose one as our favourite pick, we would go with Coinbase.
Coinbase is a publicly-traded, secure and the best (by volume) exchange in the United States. It has its drawbacks, and many community members are upset with them (due to its current policies and a shift away from Bitcoin), but it remains the go-to place for crypto beginners.
There’s nothing wrong with Crypto.com, and it’s also a great alternative, but the winner of the comparison is Coinbase.