eToro Vs. Coinbase (Comparison)

eToro and Coinbase are two leading players in the industry that fulfill all criteria to help you learn and then trade cryptocurrencies.

eToro Overview

eToro

  • Great for crypto beginners
  • Solid crypto/general trading platform
  • Reliable company with solid trust in the community
  • Fully supports credit cards for deposits and withdrawals

Pros

  • With eToro, you get to invest in the entire spectrum of investment instruments, including stocks and ETFs, cryptocurrencies, FX, commodities, and indices.
  • eToro equips you with the provision of 0% commission stock trading on the US stock exchanges.
  • With its patented CopyTrader technology, eToro allows you to copy the strategies of some of its most successful traders.
  • eToro backs up its users with free insurance purchased from Lloyd’s of London, giving coverage of up to 1 million Euro, GBP, or AUD. Users do not even need to register to avail of the insurance. It comes automatically on becoming a user on the platform.

Cons

  • Zero commission stock trading is only applicable to the US stock exchanges. All other stocks are offered as derivatives and bear commission. The Zero Commission trading also does not apply to short or leveraged positions.
  • eToro charges an inactivity fee at a rate of $10 per month after 12 months of no login activity. It charges a fixed withdrawal fee of $5 as well.

Coinbase Overview

Coinbase

  • User-friendly
  • Great customer service
  • Low services fees
  • Diverse and consistently updated choice of coins

Pros

  • Coinbase is a highly secured service that stores 98% of its customer funds offline. Further, it distributes the drives and paper backups in safe deposit boxes and vaults around the world.
  • For added protection, Coinbase pools its US customers’ balances with the balances of the other customers and holds these funds in USD custodial accounts at the US banks, USD denominated market funds, or invests them in liquid US treasuries.
  • Apart from its regular trading and storage services, Coinbase also offers portfolio management services so that you can conveniently keep track of all your buys and sells in one place.
  • With the Coinbase application, available for both Android and iOS users, you can stay on the top of the market, even when you are on the go.
  • For recurring buys, Coinbase helps you schedule your buys at daily, weekly, or monthly intervals.

Cons

  • Coinbase Pro has a complicated and somewhat high fee structure where the taker and maker fees for transactions up to $10,000 can be 0.50%. The wire (USD) deposit and withdrawal fees are $10 and $25. It also charges a miner fee based on what it anticipates paying for each transaction as network transaction fees.
  • Coinbase wallets are non-custodial, implying that the onus of remembering and safeguarding the private key is entirely on the user. Anyone getting access to your private key means getting full access to your assets.

Beginner Friendliness

Trust and Security

Fees

Sign-Up Process

Available Cryptocurrencies

Stand Out Features

Verdict: Coinbase is the Better Option for Cryptocurrency

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Victor

A crypto enthusiast dedicated to teaching and offering insight to thoughts concerning cryptocurrency and blockchain