Are you confused between Coinbase and Crypto.com? Read on to learn how the two cryptocurrency exchanges are different from each other.
The two most popular cryptocurrency exchanges, Coinbase and Crypto.com are highly trusted and widely used because they offer seamless buying, selling, and trading options to the users. They offer highly advanced security features, in addition to providing their users with a digital wallet!
Crypto.com features a Crypto.com coin aka CRO and the benefits it offers to the users are directly proportional to how many coins they stake.
Coinbase, on the other hand, provides Coinbase’s USD coin, aka USDC, which is basically a U.S. dollar-stable coin, i.e. 1 USDC is equal to $1.
As compared to Coinbase, Crypto.com is cheaper as it’s based on a maker-taker pricing structure and rewards the users with considerably higher trading volumes ad compared to Coinbase and other exchanges. Coinbase’s prices are slightly greater but what gives Coinbase an upper hand is its user-friendly nature and other educational opportunities it offers the users for earning crypto.
Pros of Crypto.com
- Crypto.com is highly cost-effective. It offers lower fees as compared to other famous cryptocurrency exchanges.
- It offers several additional benefits for users staking CRO.
- It offers several different opportunities to earn crypto. There are several different crypto-earning methods available for users. Different users have different interests and skill sets and they can choose the right earning method according to their interests.
- Crypto.com’s Visa debit card offers upto 8% cashback on several purchases and a lot of other benefits like access to Airport Lounge and much more.
Cons of Crypto.com
- Although Crypto.com features a user-friendly interface, there’s always a chance for you to get stuck at some point where you may need professional help. This is especially true if you’re a beginner in the crypto world. But, if you’re planning to use Coinbase, then please remember that the customer service of Crypto.com isn’t as responsive.
- Crypto.com doesn’t offer as many educational resources as you may find on some other cryptocurrency exchanges.
- Crypto.com offers a limited range of coins and several coins aren't available in the US.
- If you use Crypto.com’s visa card, don’t forget that it also charges a currency conversion fee from the users.
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Security Feature of Crypto.com
Crypto.com features a two-step verification system, deploys a bug bounty platform for strong security, includes FDIC-insured USD balances less than or equal to $250,000, and offers platform insurance against theft.
The digital wallet offered by crypto.com also comes with a multi-factor authentication feature, private keys, and biometrics.
Pros of Coinbase
- Coinbase allows the users to make transactions using PayPal. This feature of Coinbase is no less than a blessing for Paypal users!
- Coinbase allows you to earn crypto as you learn about crypto and crypto trading! Isn’t it interesting?
- Coinbase is extremely user-friendly. Even if you’re new to the platform, understanding the different features of the exchange won't be a big hassle if you know how to operate a smart device.
- Although it's an extremely rare case, if there’s a hack, Coinbase provides private insurance to the users so that their money will be safe even if there’s a hack.
Cons of Coinbase
- While the platform is extremely easy to use and highly convenient, what prevents most people from using the platform for buying and selling cryptocurrencies like bitcoin, is that Copinbase has some of the highest fees. Coinbase isn’t transparent about its trading fees and doesn’t publish the trading fee like other platforms.
- In addition to a complex fee structure, Coinbase doesn’t offer live chat support to the users, which is certainly a major drawback.
- Coinbase offers fewer tradable altcoins to the users as compared to Crypto.com
- Coinbase also gives considerably fewer discount opportunities as compared to other platforms.
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Security Feature of Coinbase
Just like Crypto.com, Coinbase also features a two-step verification process, offers cold storage, deploys a bug bounty program, and includes FDIC-insured USD balances less than or equal to $250,000. However, the digital wallet offered by Coinbase comes with AES-256 encryption.
Want to Learn More?
Want to start crypto trading? It’s an undeniably fantastic idea to dive into the crypto world, especially at the start of 2022. But before you dive deep, we highly recommend you do extensive research on the subject, learn as much about digital currencies as much as possible, and get a strong grasp on how different crypto exchanges work.
At Urban Crypto, you can learn about cryptocurrency and crypto trading in detail as we offer a beginner’s guide for Coinbase, Binance, Crypto.com, and other platforms and also share tips and tricks on how you can maximize your savings! You can find all answers to your concerns related to cryptocurrency and crypto trading on their platform.
Urban Crypto, helps its clients stay updated with the latest news on altcoins, digital currencies, trading platforms, and much more! If you want to make money online safely and securely with cryptocurrency, then have a look at the informative resources available on their website.
About the Author
Lou is an experienced crypto trader and investor and helps people learn about crypto trading. He writes on different topics related to crypto, bitcoins, and crypto trading to educate people on how they can start making money online and earn cryptocurrency from the comfort of their homes.
