Blockchain vs Coinbase Which Wallet to Choose?

Blockchain vs Coinbase Which Wallet to Choose?

By Tokenhell.com | Tokenhell | 23 Jan 2020


Coinbase and Blockchain are serving the crypto community for many years and now considered as the leading crypto exchanges as well the secure wallet platforms.

If you are a victim of confusion about selecting one platform from both according to your requirements then take no worry because I am going to highlight every positive and negative aspect of both exchanges and compare Coinbase vs Blockchain significant feature.

Also Read: What is Online Trading and its Different Types

Overview of Coinbase and Blockchain

First of all, I will discuss their basic information which you should know before using the platform.

Coinbase


Coinbase is one of the oldest exchanges in the crypto world and was founded by Brian Armstrong and Fred Ehrsam in 2012. As mentioned on the official site, the cryptocurrency of worth more than $150 Billion has been exchanged and more than 30 million customers have been served till today.

Initially, it was started as a brokerage service provider for selling Bitcoin but now, other features have also become its specialty including most trusted cryptocurrency wallets out there.

Also Read: Bitcoin Futures Bakkt discloses more details about its upcoming crypto trading app

Blockchain:


Blockchain came into the market as a Bitcoin wallet in 2011. Now, it is not just a Crypto wallet but also a exchange where the transactions of worth millions happened every day. It is considered the topmost secure crypto wallet in the world. Moreover, it is also acting as a trustable blockchain explorer of crypto transactions.

Coinbase vs Blockchain? Best Crypto Wallets


There are very few numbers of platforms that are offering both exchange and wallet services at the same time. Both Coinbase and Blockchain are providing these services along with many others. Let’s dive deep into the features of wallets and make some conclusions.

Coinbase is offering wallet service to its users and customers along with other facilities to make all things happen in one place. The most startling feature of this wallet is that it is free and there is no cost at all for using it. You can send and receive your cryptocurrencies through it.

They are also offering a mobile app that is integrated with your device. You can download it anywhere in the world. To go with the wallet, you just need to open your account and make a username. You can send or receive cryptocurrency through wallet username.

Coinbase wallet supports following cryptocurrencies:

  • BTC
  • BCH
  • ETH
  • LTC
  • ETC
  • All ERC-20 Tokens

Blockchain is known for providing the most secure and trusted crypto wallets in the blockchain universe as the site is founded for this purpose. The wallet is versatile because you just not only storing the assets but can also invest while residing on the wallet.

To the date, almost 43 million wallets have been created successfully on the site and the transactions worth $200 billion have been done since its commencement. You can also exchange cryptocurrency through the wallet.

Blockchain is also offering a hardware wallet at a very low price that is compatible with the site. Mobile application for the wallet is also designed to control your assets at your fingers tips.

Also Read: ETH2.0 Deposit Contract successfully passes Formal Verification

Coinbase or Blockchain? Best Cryptocurrency Exchange


Coinbase is a leading exchange that offers a wide variety of digital currencies at very competitive fees. There is the easiest way to buy and sell digital currency on Coinbase.

The trading of assets is an outclass feature of the site because they have something great for professionals traders called ’Coinbase Pro’ where the fees are low and assistance of traders with the most updated technical tools.

Blockchain developed the most innovative cryptocurrency exchange called “The Pit”. As it is regulated by Blockchain, the transactions on it done in microseconds; it is known for its fast service.

Currently, there are almost 27 pairs of digital currencies that are supported on the exchange and in the future, more crypto pairs will be added. Pit supported USD and EUR fiat currencies for deposits and withdrawals of funds.

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Coinbase vs Blockchain Fee Structure

 

Coinbase Fee structure

  • Coinbase fees are difficult to explain as they vary according to the amount or region of the users. But I will try to unfold the charges to make you clear.
  • When you buy cryptocurrency, 0.5% charges will be deducted besides the market price on Coinbase Pro.
  • When making the transaction after buying, there are charges which are flat below $200 but then vary according to the amount of transaction being made.
  • The credit card fees generally stand at 3.99% but may vary according to country or state. When making transactions from Coinbase to Coinbase account, there will be no charges at all.
  • The fees for brokerage service are competitive as compared to Coinmama and CEX.io.

Blockchain Fee Structure

  • Blockchain has a very lowest fee structure if comparing to other ones. The maker fees are relatively very low as compared to taker fees.
  • The maker fees are fixed at 0.14% which will reduce when the amount is increased.
  • While taker fees are standing at 0.24% and like the former one, continue to decrease when the amount is increased.

You May Also Read: Report 2019: A Total of $2.5 Trillion worth of Bitcoin transacted in 2019

 

Blockchain vs Coinbase Accepted Payment Methods

Coinbase accepts the following methods for payments:

  • Credit Cards
  • Debit Cards
  • Wire Transfer (ACH for US and SEPA for the UK)
  • PayPal (Withdraw Only)

Blockchain (PIT) doesn’t accept a lot of ways to for payments but accept only Wire Transfer. There is no support for credit or debit cards. You can buy cryptocurrency with USD or EUR if you are from the US or UK using your bank account.

Also Read: https://www.publish0x.com/tokenhell/188m-ripple-total-are-moved-bithumb-unknown-wallet-jan-xxnndn

User Interface

Coinbase: The dashboard of the Coinbase is very understandable and one doesn’t have any difficulty to find options. Everything is constructed in a logical manner so that users have no difficulty while using the site. However, the Coinbase Pro is somewhat difficult to understand for beginners but easy for professionals.

Blockchain: The platform has a very intuitive interface which is very easy to understand for both newcomers as well as professionals. There are no complaints from the users about the difficulty of the users and we can say that the interface is very friendly.

 

Customer Support Blockchain or Coinbase?

The customer support is a very integral part of any finance site and it should be very active. Let’s talk about how both are serving their users.

Coinbase: The ranking of the site in terms of giving a response to individuals users on time is very satisfactory. 90% of users are satisfied with their support section. So, we can say that Coinbase is ranked at topmost in terms of customers’ help.

Blockchain: The platform is recognized as the best and secure place when comes to the question of storing cryptocurrency in the wallets. The reviews of the people regarding its customers’ support about the wallet are satisfactory.  However, the exchange service is not yet recognized among the traders, so, I cannot pass a concluding comment about its support response.

Also Read: US-based company is testing Ripple Remittance Service to process transactions in Trillions of dollars

Coinbase vs Blockchain Security

The security level is the first thing one should know about before putting the assets. One who is susceptible to hacking cannot secure your assets. Coinbase is serving the industry since 2012 and now is the leading site. These years of excellence is proof of its security.

Blockchain is the place for storing coins by millions of users. The trust of millions across the world guarantees its level of security.

 

Conclusion

After all, we are able to pass the concluding comment over both crypto platforms. Both ones are providing wallet and exchange service. As it is the law of nature that one thing is good at one time. Coinbase has good ranking being as a crypto exchange. While Blockchain is reputable in the crypto ecosystem for providing secure and trustable cryptocurrency wallets. The fees of both ones are competitive. Coinbase accepts a wide variety of cryptocurrencies and payment methods as well.

Also Read: Ethereum Looks Strong this year: Can it pull out of its two-year bear market?


Tokenhell.com
Tokenhell.com

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.


Tokenhell
Tokenhell

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.

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