Coinbase and Crypto.com are among the best crypto exchanges in Australia. Both offer users staking coins, spending benefits, wallets, and more. We’ll compare Crypto.com vs Coinbase based on various aspects, and you can decide which is better.
After comparing Crypto.com’s and Coinbase’s features, benefits and downsides, we found that Crypto.com is superior. The exchange features lower fees, live chat support, benefits associated with staking CRO and many more.
Comparison Table
| Feature |
 |
 |
| Supported coins | 220+ | 250+ |
| Fees | Up to 0.6% maker-taker fee per trade3.99% for credit card purchases | 0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees2.99% for credit card purchases |
| Deposit Methods | Bank Transfer, Credit/Debit Card, Cryptocurrency, PayPal, SWIFT, Apple Pay, SOFORT/iDEAL | Bank Transfer, Credit/Debit Card, Cryptocurrency, PayPal, SWIFT |
| Security | Two-step verification, FDIC-insured USD balances, platform insurance against theft, 98% cold storage, bug bounty program | Two-step verification, FDIC-insured USD balances, 100% cold storage, platform insurance against theft, bug bounty program |
| Wallets | Multi-signature wallets with AES-256 encryption | Multi-factor authentication, biometric, locally secured private keys |
| Website | www.crypto.com | www.coinbase.com |
Crypto.com Vs. Coinbase: Overview
Coinbase is a crypto trading platform created in June 2012 by a former Airbnb engineer Brian Armstrong. Coinbase has no physical headquarters, and as of March 2021, its trading volume made it a large crypto exchange in the United States. The platform went public in April 2021 via a direct listing on the Nasdaq exchange.
Pros
More than 220 cryptocurrencies are available
Coinbase Earn, Coinbase NFT, Coinbase Borrow, etc.
Staking rewards of up to 5.75%
Coinbase Card that gives users cashback on purchases
Cons
Complicated fee structure than competitors’
Much fewer tradable altcoins than Crypto.com
No advanced futures and margin trading
No Live Chat support
In June 2016, Crypto.com was founded by Gary Or, Rafael Melo, Bobby Bao, and Kris Marszalek and quickly became a reputable crypto exchange. The exchange is a registered brand of Foris DAX Asia Pte. Ltd., a subsidiary of Foris DAX MT (Malta) Limited. Currently, the platform has 3,000 staff and 10 million users.
Pros
Over 250 cryptocurrencies and 20+ fiat assets
Low fees of 0.4% and 0.4% for maker & taker orders
Crypto borrowing, crypto lending, and NFT marketplace
Staking rewards of up to 14.5% for 40+ coins
Crypto.com Visa Card offers 5% cash back
Cons
Cashback rewards and perks paid in CRO
3.50% fee to pay with credit/debit cards
Supported Assets
Investors can purchase the most popular cryptocurrencies because both exchanges provide a wide range of digital assets.
Coinbase has over 200 cryptocurrencies, while Crypto.com offers over 250. Both systems support all major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solano (SOL) and Cardano (ADA). Each also provides stablecoins like USD Coin (USDC) and Tether (USDT).
Coinbase does not yet support Vechain, Avalanche, XRP, or Binance Coin. Coinbase, which is SEC-compliant to operate in the United States, did not include XRP since the decision of the SEC vs. Ripple dispute is still pending.
Moreover, Futures and NFTs can be purchased, sold, and traded on Crypto.com but not on Coinbase.
Winner: Crypto.com
Crypto.com is the better option for accessing the most coins. Investing in various digital currencies helps spread the risks and diversifies your portfolios.
Crypto.com vs. Coinbase: Fees
Crypto.com and Coinbase do not charge fees for deposits of fiat currencies via bank transfers, but both charge fees for debit card payments. Crypto deposit is also free on the two exchanges.
The fees for the Crypto.com exchange and the mobile app are different. On the Crypto.com exchange, trading fees start at 0.4% but can be lowered as trading volume increases. On the Crypto.com mobile app, trading one coin for another is free. You can also immediately purchase cryptocurrencies using credit or debit cards for a fee of up to 4%, depending on your region.
The structure of Coinbase’s trading fees is quite complicated. The transaction and trading fees range from 0.5% to 4.5% according to the cryptocurrency, transaction amount, and payment method. The flat fees begin at $0.99 for purchases under $200, while the percentage-based fees apply to transactions over $200. It also charges a spread-based fee of 0.50% for transactions under $10,000. The trading fees for Coinbase Pro range from 0% to 0.5% for each transaction.
Winner: Crypto.com
Crypto.com is the winner, thanks to its lower fees and discounts. The fees of Coinbase are challenging to comprehend, and can add up to 4.5%.
Wallet Options
Crypto.com and Coinbase have hosted hot wallets, though this is not the most secure method for long-term storage. Fortunately, these exchanges make it simple to self-custody your cryptocurrency using the corresponding hot wallet apps. Each standalone app is non-custodial, so you have complete control over your private keys.
The Crypto.com DeFi wallet is a non-custodial app that allows users to store and transfer cryptocurrencies and non-fungible tokens (NFTs). While the wallet can be used independently, you can synchronise it with your Crypto.com account for smooth transactions. The wallet can interact with DeFi apps, particularly on the Cronos Chain and is compatible with popular Ethereum or BSC dApps like OpenSea, Uniswap and Pancake Swap.
The “Earn” function of the Crypto.com DeFi wallet allows users to stake specific cryptos for rewards. You can “Buy” or “Exchange” tokens within this DeFi wallet app. Though accessible for iOS and Android, the app can be downloaded and used as a browser extension.
The Coinbase Wallet is one of the most reliable non-custodial hot wallets. Unlike a standard Coinbase account, this hot wallet allows anybody to self-store up to 4,000 crypto assets and NFTs.
People with a Coinbase account will enjoy seamless integration with the Coinbase Wallet, and you can transfer your cryptocurrencies to this app. You can fund your Coinbase Wallet in some countries with a debit or credit card.
If you have an existing Trust Wallet or MetaMask, you can import the corresponding recovery phrase into your Coinbase Wallet. The Coinbase Wallet is available for download on iOS and Android smartphones. You can also use the Coinbase Wallet browser plugin.
Winner: Crypto.com
Though both exchanges provide similar wallet options, experienced users prefer Crypto.com’s extra features.
Rewards
Coinbase pays qualifying new members $5 in free bitcoin after their first crypto purchase, plus a bonus amount after they first engage. Coinbase also gives cryptocurrency prizes to members who stake or lend their cryptocurrencies. In addition, when using Coinbase Visa Debit Card, users can have a chance to receive attractive cashback.
Customers can earn up to 14.50% (8.5% for stablecoins) in incentives by staking or holding specific cryptocurrencies in their portfolios for at least six months. The rewards you receive will vary based on the coins/tokens.
Using a prepaid Visa card, Crypto.com users who stake at least $400 can receive up to 5% back in cryptocurrency. There are a variety of card levels designed to meet the diverse requirements of customers. Depending on the tier, customers qualify for free memberships and discounts from companies such as Amazon, Netflix, Spotify, and Expedia.
Winner: Crypto.com
Although both platforms offer users several ways to earn, Crypto.com seems to add a few more with more attractive rewards.
Staking Rewards
Coinbase pays qualifying new members $5 in free bitcoin after their first crypto purchase, plus a bonus amount after they first engage. Coinbase also gives cryptocurrency prizes to members who stake or lend their cryptocurrencies. In addition, when using Coinbase Visa Debit Card, users can have a chance to receive attractive cashback.
Customers can earn up to 14.50% (8.5% for stablecoins) in incentives by staking or holding specific cryptocurrencies in their portfolios for at least six months. The rewards you receive will vary based on the coins/tokens.
Using a prepaid Visa card, Crypto.com users who stake at least $400 can receive up to 5% back in cryptocurrency. There are a variety of card levels designed to meet the diverse requirements of customers. Customers qualify for free memberships and discounts from companies such as Amazon, Netflix, Spotify, and Expedia, depending on the tier.
Winner: Crypto.com
Although both platforms offer users several ways to earn, Crypto.com adds a few more with more attractive rewards.
Advanced DeFi Features
Crypto.com gives you better access to more advanced DeFi features. Although both exchanges provide staking with rewards, Crypto.com offers a wider variety of DeFi-related opportunities.
You can join yield farming programs to earn more cryptocurrencies by lending out your assets and making interest on them, as listed on Crypto.com. Meanwhile, Coinbase is not connected with many DeFi projects and opportunities; thus, you can’t participate in yield farming with Coinbase.
Crypto.com also provides extra options to use DeFi through their payment mechanism, which enables you to pay friends and merchants using your cryptocurrency.
Winner: Crypto.com
Crypto.com’s full crypto and DeFi ecosystem provides several alternatives to traditional trading for crypto assets. This places it ahead of Coinbase for those who want to delve deeper into decentralised finance.
Platform & Mobile Apps
Coinbase features a user-friendly interface, so anybody with a regular Coinbase desktop account can easily buy and trade top coins. Coinbase users benefit from extra features like “Learn to Earn” and staking rewards. It’s also possible to link your Coinbase account to an Android or iOS mobile app. However, remember that the Coinbase App is distinct from the Coinbase Wallet.
You can move to the superior Coinbase Pro version if you are a U.S. citizen. Unlike the standard Coinbase interface, Coinbase Pro offers candlestick charts for fewer cryptocurrencies. Coinbase Pro offers lower fees, additional chart data, and “market” or “limit” orders.
Unlike Coinbase, Crypto.com provides a more powerful desktop exchange and is only accessible in a limited number of non-US nations. There are rumours, however, that Crypto.com’s recent acquisition of Nadex might result in a new US-based desktop exchange.
The Crypto.com app is touted for its clean and intuitive user interface with thousands of additional features for your portfolio management. For instance, via the “Earn” option, you can deposit money for interest. In addition, anyone with a Crypto.com Visa debit card can “reload” their card with fiat or cryptocurrency. There is also a “Pay” portal for users to purchase gift cards and receive crypto-back incentives.
Winner: Crypto.com
Both have a simple-to-use platform, yet Crypto.com’s mobile app offers users more appealing features.
Security Measures
Coinbase has standard security features and provides instructional materials to assist you in securing your account with methods such as multifactor authentication. U.S. dollar deposits are insured by the Federal Deposit Insurance Corporation (FDIC). Though the balances of cryptocurrencies are not guaranteed, Coinbase offers protection against theft and hacking.
However, despite these security measures, Coinbase has been the victim of hacking. By the end of 2021, Coinbase acknowledged that 6,000 users had been affected by a May attack. There are also concerns about fraudsters accessing personal accounts and issues about Coinbase’s response to stolen funds.
By contrast, Crypto.com takes extensive steps to document its security procedures. Besides safeguarding U.S. dollar holdings with FDIC protection, Crypto.com stores customer cryptocurrency offline with Ledger Vault.
In January 2022, Crypto.com suffered a $35 million hack, but the exchange recovered user funds and implemented more advanced security measures. It joined the Worldwide Account Protection Program, which recovers a percentage of user assets in the event of fraudulent access.
Winner: Tie
Both Coinbase and Crypto.com are pretty secure and offer decent protection for your funds in the event of a hack.
Customer Service
The Coinbase Help Center helps you find frequently asked questions and instructions for all of Coinbase’s services. You can contact the customer service team by submitting tickets through the “Contact Us” button. If you haven’t heard from them after a few days, you can send a Tweet to their official Twitter account. Although Coinbase offers phone help at (888) 908-7930, it is solely accessible to Coinbase Card holders. That justifies why Coinbase’s customer service is not highly rated.
Coinbase Help Center. Image: Coinbase.com
Crypto.com’s Help Center provides hundreds of FAQs, and you can use the central search bar to find your topic. If you encounter difficulties using Crypto.com, you can contact a support member via email or live chat. On the Crypto.com app, click on a chat bubble in the bottom-right corner of the display to open a ticket. Alternatively, you can contact Crypto.com by email at [email protected]. Typically, it takes a few days for a Crypto.com support team to respond.
Winner: Crypto.com
Concerning customer service, Crypto.com has the upper hand as it offers Live Chat support that helps users handle their issues on time.
Final Verdict
Some of the best cryptocurrency exchanges have user-friendliness, low fees, and a wide range of digital assets. Crypto.com is more user-friendly, and its fees are lower than Coinbase. In addition, Crypto.com supports a wide assortment of cryptocurrencies and attractive services such as crypto staking, an NFT Marketplace, and lending and borrowing. All in all, Crypto.com earns the top spot over Coinbase.
The following review is for informational purposes only and should not be construed as financial or investment advice. It is important to note that cryptocurrency is a highly volatile and speculative market, and there is no guarantee of profit or loss. This review is based on the author’s personal experience and research, and individual results may vary. The author is not affiliated with any of the exchanges mentioned in this review and does not receive compensation for their mention. It is recommended that readers conduct their own due diligence and consult with a financial advisor before making any investment decisions.
The information regarding performance may be different from the time of publication. Past performance does not guarantee future results. While we believe that all content was accurate at the time of posting, it is possible that some offers included in the content may no longer be valid.
