Crypto exchanges play a key role in the digital asset markets by facilitating the staking, swapping, buying, and selling of digital currencies. Due to this, it’s important for you to pick the right exchange to make your experience in the crypto world seamless. This guide compares two of the leading crypto exchanges, Coinbase and Crypto.com, to help you determine which one is more suitable for you.
Exploring Coinbase
Founded in 2012, Coinbase is a US-based crypto exchange that lets users purchase, sell, and swap digital assets like NFTs and cryptocurrencies.
Coinbase Main Features
Coinbase Card – This product was launched in partnership with payment giant Visa. You can use your Coinbase Card to pay for shopping using your crypto holdings.
Coinbase Learn – Being among the crypto players who advocate for the mainstream adoption of blockchain technology, Coinbase offers a learn-to-earn program, encouraging users to study blockchain and cryptocurrencies in exchange for rewards.
Coinbase Advance – This feature is designed to meet the needs of experienced traders. Coinbase Advance offers access to a comprehensive pool of trading tools, allowing traders to conduct thorough market analysis.
Coinbase One – This is a subscription-based service that gives subscribers perks like discounted trading fees and early access to new investment opportunities.
Coinbase Wallet – Coinbase offers users a non-custodial crypto wallet, which gives them total control over their digital assets. With Coinbase Wallet, you can store almost all ERC-20 tokens and hundreds of NFTs.
Advantages and Disadvantages of Coinbase
Advantages
- Coinbase offers a user-friendly interface, making it easy for beginners to use.
- The exchange offers access to lucrative staking opportunities.
- Facilitates quick fund withdrawals.
- Has a wide range of educational materials.
Disadvantages
- Coinbase’s geographical availability is limited.
- The exchange’s fee structure isn’t transparent.
Exploring Crypto.Com
Crypto.com started operations in 2016. Over the years, the cryptocurrency exchange has continued working towards its goal of empowering its customers to have full control of their digital assets.
Crypto.com Main Features
Crypto Earn– Through this program, users lock up their digital currencies for a certain period to earn rewards, which are distributed every seven days.
Visa Cards – As a Crypto.com user, you can request a Visa-issued card, which you can use to pay for shopping using your cryptocurrencies.
Crypto Credit – Crypto.com allows users to borrow loans without credit checks. They only need to deposit cryptocurrencies as collateral to secure the loans.
DeFi Wallet – As mentioned, Crypto.com wants users to have complete control over their digital assets. To achieve this, the exchange offers its DeFi Wallet, which supports assets built on more than a hundred blockchains.
Advantages and Disadvantages of Crypto.com
Advantages
- Crypto.com fee structure is easy to understand.
- Its interface is user-friendly.
- The exchange offers profitable staking opportunities.
Disadvantages
- The sign-up process is tedious.
Coinbase vs. Crypto.com: Comparison
Digital Currencies
Both Coinbase and Crypto.com support the trading of more than 250 cryptocurrencies. Therefore, the two exchanges are ideal for investors looking to diversify their crypto portfolios.
Security
When it comes to security, Coinbase and Crypto.com have adopted sufficient measures to keep user funds safe. For instance, the two exchanges store customer funds in cold wallets to keep them away from cybercriminals. Moreover, both platforms offer their US customers insurance coverage in which deposits of up to $250,000 are insured.
Accessibility
Both Coinbase and Crypto.com are easily accessible, given that they both have mobile apps and websites.
Customer Support
Coinbase beats Crypto.com when it comes to customer support. That’s because the former offers more ways for users to communicate with the customer support team than the latter.
Payment Methods
It is easy for people to buy cryptocurrencies on Coinbase and Crypto.com since these two exchanges support a wide range of payment methods. You can purchase crypto assets using Apple Pay, Google Pay, and debit/credit cards.
Final Thoughts
With this information in mind, it is now easy to pick your preferred crypto exchange between Crypto.com and Coinbase. If you want an exchange with a clear fee structure, then go for Crypto.com, and if you desire an exchange with proper customer support, Coinbase is a perfect pick.
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