Using an exchange is one of the easier ways to access cryptocurrencies, especially if you’re a beginner or intermediate crypto user.
Two well-known exchanges you could use are Crypto.com and Coinbase. Both cryptocurrency exchanges offer access to many popular cryptocurrencies. They also allow earning additional cryptocurrencies through staking and rewards.
Coinbase has been operating since 2012. The exchange makes it easy to purchase cryptocurrencies using your bank account, debit card, or PayPal. It’s even possible to participate in coin-to-coin trades.
Crypto.com is a newer exchange that might not offer as many trading options as Coinbase. However, Crypto.com has a larger crypto eco-system that includes many crypto-related financial products.
Let’s compare Crypto.com versus Coinbase to see what strengths they share and what sets them apart.
Crypto.com vs. Coinbase
An essential part of learning how to invest money is using exchanges that offer low fees and useful features. The same is true in the cryptocurrency world. Crypto.com and Coinbase are two prominent exchanges that are relatively easy to use for beginners and offer low fees.
|Mobile app||iOS, Android||iOS, Android|
|Trading fee structure||Tiered maker/taker model based on the 30-day trading volume
||Tiered maker/taker model based on the 30-day trading volume
|Supported cryptocurrencies||250+ cryptocurrencies including:
||150+ cryptocurrencies including:
|Accessibility||All U.S. states except New York||All U.S. states except Hawaii|
|Best for...||Beginner to intermediate cryptocurrency investors interested in an ecosystem of crypto-related financial products||Beginner to intermediate crypto investors interested in staking and coin-to-coin transactions.|
|Visit Crypto.com||Visit Coinbase|
How does Crypto.com work?
Crypto.com was founded in 2016 by Bobby Bao, Gory Or, Kris Marszalek, and Rafael Melo. Its official headquarter is in Singapore, but it’s available in all U.S. states except New York.
Crypto.com claims to be the fastest-growing crypto app in the world, especially following its 2022 Super Bowl ads featuring Matt Damon and LeBron James.
As one of the top 20 cryptocurrency exchanges globally by trading volume, Crypto.com is one of the most popular places to buy and sell cryptocurrencies.
Some of the main features of Crypto.com:
- It has a native cryptocurrency, cronos (CRO), which is built on the ethereum blockchain.
- It is building its own blockchain to support decentralized finance (DeFi) applications. DeFi apps offer financial products that are not operated by a central authority.
- It offers a metal Crypto.com Visa rewards debit card that allows you to use your cryptocurrencies for everyday purchases.
- It provides the Crypto.com Pay feature that allows you to pay friends and merchants.
- It supports a non-fungible token (NFT) marketplace, where you can buy and sell NFTs and curate your own collection.
Learn more about Crypto.com native coin and its crypto ecosystem in our Crypto.com review.
How does Coinbase work?
Established in 2012, Coinbase is one of the oldest cryptocurrency exchanges still in operation. Coinbase was founded by Brian Armstrong and Fred Ehrsam and is based in San Francisco. The exchange is available in all U.S. states except Hawaii.
Coinbase Global, Inc. (COIN) is a public-traded company after going through the requirements to be listed on the Nasdaq stock exchange.
Coinbase is an easy-to-use cryptocurrency exchange. It’s on our list of the best cryptocurrency exchanges you could trade on.
Some of the main features of Coinbase:
- It focuses on trading simplicity by offering a variety of fiat deposit methods. It allows debit card and PayPal funding on top of ACH and wire transfers.
- It allows coin-to-coin trades, which makes it easy to buy and sell cryptocurrencies using your crypto wallet.
- It has a user-friendly interface that allows you to see the cost of your purchases in U.S. dollars quickly.
- It offers cold crypto wallets through Coinbase Vault, which allows you to keep your cryptocurrencies stored offline.
- It recently shifted its fee structure to a tiered maker/taker model, more in line with other cryptocurrency exchanges.
Learn more about the Coinbase fee structure and supported trading methods in our Coinbase review.
What both cryptocurrency exchanges excel at
Being two of the most popular cryptocurrency exchanges, Crypto.com and Coinbase share several advantages.
Both Crypto.com and Coinbase are relatively secure, offering offline storage for most of your crypto assets. They also use two-factor authentication to add a layer of security to your account.
Additionally, both exchanges offer insurance through the Federal Deposit Insurance Corp. FDIC insurance covers U.S. dollar fiat balances up to $250,000.
Coinbase recently launched its own NFT marketplace, matching Crypto.com in offering access to NFT investing.
Staking and rewards
You can also use both exchanges to stake supported cryptocurrencies, which is a form of reward you receive for holding certain coins.
Crypto.com allows you to choose which coins to stake and provides you with a way to “lock up” certain coins for staking to receive rewards. Coinbase also offers staking, but you receive rewards simply by holding coins on the exchange.
Both cryptocurrency exchanges also offer Visa rewards debit cards. You could use both cards for everyday purchases and receive cryptocurrency rewards. These debit cards reward you in a manner similar to credit cards but with cryptocurrencies instead of points or cash back. However, you buy using your crypto balance without borrowing any money.
The Crypto.com exchange offers sources to help advanced traders find the market data they need and charting tools to analyze the market.
Although Coinbase doesn’t directly offer access to the same advanced sources and trading tools offered by Crypto.com, it does offer them through the Coinbase Pro platform. This is a different trading platform aimed at crypto traders who need more advanced tools.
Learn more about Coinbase versus Coinbase Pro.
However, Coinbase announced it plans to merge both platforms to improve accessibility and simplicity. It has already begun offering limited access to the advanced trading tools on its main Coinbase platform.
5 important differences between Crypto.com and Coinbase
There are several differences between Crypto.com versus Coinbase. For example, while Crypto.com offers lower trading fees, Coinbase offers more purchase options and coin-to-coin trading.
Here are some of the main differences between both exchanges:
1. Trading fees
Both Crypto.com and Coinbase offer a tiered maker/taker model. In this model, you’re a maker by putting an order on the books and waiting for someone to match it, or you’re a taker by placing a market order and having it fulfilled immediately.
However, Crypto.com’s fees top out at 0.40%, and you can access a discount when you use cronos, the exchange’s native currency. Coinbase, on the other hand, has fees that reach 0.60% and doesn’t offer discounts.
Winner: If you’re looking for smaller fees that are made smaller through potential discounts, Crypto.com might be the better option for you.
2. Available cryptocurrencies
Crypto.com offers access to more than 250 cryptocurrencies, whereas Coinbase offers access to more than 150 cryptocurrencies. Although you would find most major cryptocurrencies on both exchanges, Crypto.com offers access to a broader variety of lesser-known alternative coins or altcoins.
Additionally, Crypto.com has its own native coin, cronos, whereas Coinbase didn’t announce plans to build its own blockchain or have a native coin.
Winner: Crypto.com wins the game if you’re looking to access as many cryptocurrencies as possible. However, it may not matter how many digital currencies you could access in many cases as long as you could buy the major few.
3. Wallet options
Both Coinbase and Crypto.com offer the option to store your cryptocurrencies on their exchanges and support several off-exchange storages.
Coinbase offers its Coinbase Vault, which allows you to store cryptocurrencies offline without setting up your own hardware wallet. The Coinbase Wallet is a different storage service that could be used as a browser extension or mobile app to manage your coins.
Crypto.com offers offline storage for your digital assets as well, and it uses a wallet that has more flexible and advanced options. When using this wallet, you could prioritize the speed or cost of your transactions. Additionally, you get a non-custodial option that allows you to own and control your own private keys.
Winner: Although both exchange platforms offer very similar wallet options, some advanced users may prefer the additional options offered by Crypto.com.
4. Advanced DeFi opportunities
If you’re looking for more advanced DeFi opportunities, Crypto.com might provide you with greater access. /although Coinbase and Crypto.com both offer staking and the ability to earn rewards, Crypto.com offers a wider variety of opportunities to get involved with DeFi.
Crypto.com offers a list of yield farming projects you could participate in to earn additional cryptocurrencies by lending out your assets and earning interest on them. Coinbase isn’t integrated with different DeFi projects and opportunities, so you can’t participate in yield farming with Coinbase.
Crypto.com also offers more opportunities to use DeFi via its payment method that allows you to pay friends and merchants you buy from using your cryptocurrencies.
Winner: Crypto.com offers a comprehensive crypto and DeFi ecosystem that offers several methods of using your crypto assets other than traditional trading. This puts it ahead of Coinbase for people looking to delve deeper into decentralized finance.
5. Coin-to-coin exchange
Crypto.com lets you trade using tether (USDT) or U.S. dollar coin (USDC). There is also limited support for using bitcoin (BTC) for coin-to-coin trades.
Coinbase has a reasonably simple interface that allows you to make coin-to-coin exchanges in a way that isn’t supported on Crypto.com.
Coinbase also allows you to exchange one coin for another without paying a transaction fee. For example, you could exchange shiba inu (SHIB) directly for solana (SOL) without paying additional transaction fees.
Winner: This exchange functionality is not available on Crypto.com, positioning Coinbase as the stronger contender for people who want to swap one cryptocurrency for another directly.
Which cryptocurrency exchange should you choose?
Deciding whether to choose Crypto.com or Coinbase depends on your priorities and goals.
- Beginners: Both exchanges could be appropriate for beginners, but Coinbase has a more intuitive
- HODLers: Coinbase might be more suitable for someone who wants to buy and hold cryptocurrencies for a longer time because of its higher fees.
- Frequent traders: Thanks to its lower fees, Crypto.com might be more suitable for people who perform more frequent trades. It has a higher learning curve to get used to its crypto trading interface and the maker/taker model, but it might save you money in the long run.
- DeFi supporters: Crypto.com offers access to more DeFi products and services. You could get more involved in NFTs, staking, or yield farming or use the Crypto.com Visa debit card.
FAQs about Crypto.com and Coinbase
What is the difference between Crypto.com and Coinbase?
The main difference between Crypto.com and Coinbase is the additional crypto products each exchange offers. Crypto.com provides more access to DeFi products and services. It offers the ability to participate in yield farming and the NFT economy. Coinbase focuses more on trading cryptocurrencies and doesn’t offer as many opportunities to get more involved in DeFi.
Is Crypto.com legit?
Yes, Crypto.com is a legitimate company and cryptocurrency exchange headquartered in Singapore and available in all U.S. states except New York. Crypto.com offers insurance for your fiat currency funds up to $250,000 via the FDIC.
Is it cheaper to buy bitcoin on Crypto.com or Coinbase?
In general, fees are higher on Coinbase, so it might likely cost you more to purchase bitcoin on Coinbase instead of Crypto.com.
As you decide between Crypto.com versus Coinbase, it’s essential to consider your investing goals in cryptocurrencies.
It might make sense for beginner cryptocurrency investors to use an exchange that offers a simple interface, such as Coinbase. However, if you want to access more advanced trading tools, it might make sense to choose Crypto.com.
Keep in mind that cryptocurrencies tend to be volatile. Be sure to consider your risk tolerance as you learn how to buy cryptocurrency. Limiting the amount you buy could reduce the impact of cryptocurrencies on your overall portfolio.
Disclosure: The author uses both Crypto.com and Coinbase. Additionally, the author owns cryptocurrencies mentioned in this article, including SOL, SHIB, ETH, and BTC.