Delara Hadid
Massimo Moretti
Our article puts KuCoin vs. Binance in a head-to-head showdown, providing an overview of their key features, benefits, and drawbacks.
TDLR
This eToro vs. Coinbase comparison gives you everything you need about these two exchange giants. Both are cryptocurrency exchanges with different strengths. Coinbase is beginner-friendly, has lower fees, and supports many cryptocurrencies.
eToro offers unique features like copy trading, practice trading with derivatives, and crypto-backed loans. It has a wider range of tradeable assets, including stocks and ETFs. Both platforms prioritize security with two-factor authentication, secure wallets, and additional measures.
eToro has lower trading fees, but Coinbase has simpler fees for high-volume trades. Coinbase is easier for beginners, while eToro caters to experienced traders. However, the choice depends on individual preferences and trading goals.
Introduction
Are you ready to enter the fascinating world of trading cryptocurrencies? You’re in the right place, then! This comprehensive guide examines the in-depth reviews of eToro and Coinbase, two well-known cryptocurrency exchanges.
As a crypto enthusiast, you should be aware that selecting the best cryptocurrency exchange is crucial for profitable trading. We will thus examine eToro and Coinbase’s features, costs, security, and other aspects.
Understanding the similarities and differences between these trading platforms can help you make wise decisions regarding purchasing, selling, and trading crypto assets.
So, let’s get started and contrast eToro and Coinbase to locate your ideal cryptocurrency match!
eToro vs. Coinbase: Buying and Selling Crypto
Both eToro and Coinbase allow their customers to buy and sell cryptocurrencies. However, they both support currencies, including Bitcoin, Ethereum, Litecoin, etc. However, the point is that the specific cryptocurrencies available may vary between the two platforms.
eToro provides a unique feature to its traders called “Copy Trading.” This feature automatically lets users copy successful traders’ trades on the platform. This feature may be interesting to users new to trading or who wish to benefit from the knowledge of more experienced traders.
On the other hand, Coinbase utilizes various fiat currency funding options to trade over 250 digital currencies and tokens.
Best in class
More details
eToro is a popular online trading platform for crypto assets, stocks, and ETFs, featuring low fees and a user-friendly interface. With a free eToro wallet and social features like messaging boards, users can copy experienced traders and access numerous assets. Take a look at what makes this platform perfect for starting your trading journey.
-
Provides an attractive, communal atmosphere.
-
Offers zero commission on ETFs.
-
Extensive selection of educational resources.
-
Mobile app with trading features.
-
Smooth account opening and bank transfer.
-
Limited number of cryptocurrencies.
-
Limited customer support.
-
No crypto-to-crypto trading pairs.
More details
Coinbase is one of the largest crypto exchanges in the world and a widely-used platform for buying, selling, and trading over 200 cryptocurrencies. It offers trading solutions for beginner, advanced, and institutional traders alike. Take a look at what makes it an excellent option for individual traders looking to trade in cryptocurrencies and beyond.
-
A wide-selection of coin offerings.
-
Most secure online crypto platforms.
-
Top-rated mobile app.
-
Easy interface and user-friendly.
-
Expensive and complex fee structure for beginners
-
Higher fees as compared to other cryptocurrency exchanges.
-
Slow customer support.
eToro vs. Coinbase: Fees
Regarding trading fees, eToro and Coinbase, two popular cryptocurrency exchanges, take different approaches. Let’s dive into the details of initial coin offerings and see how they compare crypto asset trading costs.
| Fees | eToro | Coinbase |
| Bank account | Free | 1% |
| ACH transfer | Free | Free |
| Purchases | 1% | 0% to 1% |
| Wire transfer | N/A | $10 deposit, $25 withdrawal |
| Wallet | Free | Fees calculated at transaction time |
| Trades | 1% | 0% to 0.60% |
| Debit/credit cards | Free | NA |
| Other fees | Flat Currency conversion; inactivity | None |
Coinbase’s Maker-Taker Trading Fees and Additional Charges
Based on a user’s trading volume, Coinbase offers a tiered fee structure. The costs for purchasing and selling bitcoins range from 0.05% to 0.60%. Additionally, Coinbase has a Pro version called Coinbase Pro, which has cheaper costs for users who trade more frequently.
A maker-taker fee model is used by Coinbase Pro, in which makers (those who give the market liquidity) pay lower costs than takers (those who withdraw liquidity from the market).
However, the fees vary depending on the transaction volume, with lower rates for higher-volume trades. Moreover, it’s worth noting that Coinbase also imposes fees for deposits, withdrawals, and crypto purchases made with bank or debit cards.
These additional charges can add up, especially if you frequently use these payment methods.
eToro’s Flat Commission and Miscellaneous Fees
On the other hand, eToro charges a flat commission of 1% on every buy or sell order for cryptocurrencies. While this may seem higher than Coinbase’s fee range, eToro offers some fee-free perks, such as free account funding.
However, eToro does have other fees to consider. For instance, if an account is inactive for more than a year, a $10 monthly inactivity fee will apply. Additionally, non-U.S. customers must pay a $5 withdrawal and conversion fee when converting between fiat currencies.
| Pricing Tier | Taker Fee | Maker Fee |
| Up to $1.00* | 0.00% | 0.04% |
| $1.00 – 10K | 0.50% | 0.50% |
| $10K – 50K | 0.35% | 0.35% |
| $50K – 100K | 0.25% | 0.15% |
| $100K – 1M | 0.20% | 0.10% |
| $1M – 20M | 0.18% | 0.08% |
| $20M – 100M | 0.15% | 0.05% |
| $100M – 500M | 0.10% | 0.02% |
| $500M – 1B | 0.06% | 0.00% |
| $1B – 2B | 0.05% | 0.00% |
| $2B + | 0.04% | 0.00% |
Factors Affecting the Total Cost
Determining which trading platform is cheaper in terms of fees is not straightforward. Factors like your trading volume and preferred funding or payment method can significantly affect the overall cost.
Higher trading volumes may lead to lower fees on Coinbase, while eToro’s free account funding can save you some expenses. It’s important to consider these factors and choose the exchange that aligns with your trading style and financial preferences.
In the eToro vs. Coinbase matchup, fees are just one aspect to consider. However, it’s important to remember that fee structures vary over time, so for the most recent fee information, please visit the official websites of eToro and Coinbase.
eToro vs. Coinbase: Supported Currencies
Are you prepared to explore the world of crypto assets? Selecting the best crypto exchange will be one of your first decisions.
While eToro and Coinbase are the most popular cryptocurrency exchanges in the world, they differ in some key areas, including the currencies they support.
However, let’s explore which trading platform gives you the most alternatives for cryptocurrency trading adventures.
eToro: A Gateway to the Crypto World
Both eToro and Coinbase offer a remarkable full selection of supported coins. eToro, though, supports over 80 cryptocurrencies and a wider selection of tradeable crypto assets. With eToro, you can access well-known cryptocurrency exchanges like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and many more.
eToro enables stock and ETF trading in addition to crypto trading, allowing you to diversify your investment portfolio in a single location.
Coinbase: Powerhouse of Crypto Trading
Conversely, Coinbase is a serious player in the cryptocurrency exchange world. Over 250 cryptocurrencies, including several smaller altcoins and major coins, are supported by Coinbase, one of the most well-known and significant cryptocurrency exchanges.
This trading platform offers well-known currencies like Bitcoin, Bitcoin Cash Ethereum, and Litecoin. However, Coinbase is a fantastic option if you want a secure and easy trading experience and are interested in trading cryptocurrencies.
Here is a table comparing the supported cryptocurrencies and features on eToro and Coinbase:
| Cryptocurrency | eToro | Coinbase |
| Number of Tradable Coins | 80+ | 250+ |
| Advanced Trading Platform | Yes | Yes |
| Staking abilities | Yes | Yes |
| Rewards Card | No | Yes |
| Crypto Wallet(s) | Yes | Yes |
The Verdict
Ultimately, the ideal crypto exchange for you will rely on your unique requirements and preferences. Coinbase is a fantastic choice if you’re searching for a platform with a broad selection of supported cryptocurrencies and a reasonable fee structure. However, eToro is an excellent option if social trading is something else you’re interested in.
To select the best match for your cryptocurrency exchange, evaluate their supported currencies and other features.
eToro vs. Coinbase: Security
Coinbase and eToro are prominent and custodial cryptocurrency exchange sector challengers regarding your crypto assets’ security. Regarding security, both eToro and Coinbase prioritize protecting user funds and maintaining the security of their platforms.
To assist you in making a wise choice, let’s examine the security aspects that each platform provides.
eToro Money Wallet Security
eToro operates under the oversight of regulatory bodies like the Financial Conduct Authority (FCA) in the U.K. and the Cyprus Securities and Exchange Commission (CySEC). These authorities have stringent rules to ensure eToro’s operations are secure and transparent.
They provide SSL encryption to protect your eToro account data, ensuring sensitive information is transmitted securely. Moreover, eToro offers an extra layer of security through two-factor authentication (2FA), which helps prevent unauthorized access to user accounts.
Moreover, eToro utilizes a combination of hot eToro money crypto wallet and cold eToro money wallet to secure your assets, ensuring a balanced approach to safeguarding your crypto investments.
Secure Wallets for Your Coinbase Crypto Assets
One of the most recognized cryptocurrency exchanges, Coinbase, complies with legal requirements in many countries. For instance, it is listed with the Financial Crimes Enforcement Network (FinCEN) in the U.S. as a Money Services Business (MSB).
To safeguard customers’ crypto assets, Coinbase uses industry-standard security methods. Most of their funds are kept in cold storage wallets that are offline and not immediately online, which lowers the danger of hacking. Additionally, Coinbase gives customers the choice of 2FA, improving their accounts’ security.
Multi-Signature Security and Additional Measures
To further enhance your funds’ security, eToro and Coinbase crypto exchanges offer multi-signature security for their wallets. This means multiple signatures are required to get private keys and authorize transactions, reducing the risk of unauthorized access.
As compared, Coinbase goes a step further by providing fingerprint biometric access, adding an extra layer of convenience and security to your account.
eToro also boasts distributed denial-of-service (DDoS) protection and standardization protocols, reinforcing their commitment to keeping the assets of crypto investors safe and secure.
eToro vs. Coinbase Pro: Ease of Use
Beginner-Friendly Simplicity
Regarding ease of use, Coinbase shines as a cryptocurrency exchange for newcomers in the crypto world. Its straightforward interface frees buying, selling, and swapping crypto assets. You’ll feel at home with Coinbase’s user-friendly platform, even if you’re a novice investor.
On the other hand, while the U.I. is user-friendly, eToro expects its users to have a basic grasp of financial trading. So, if you’re keen to dive into the fascinating world of cryptocurrency trading, eToro may be the right choice.
Mobile Apps for On-The-Go Trading
Whether you prefer trading from your desktop or on the go, eToro and Coinbase have covered you. They offer convenient mobile apps that replicate the features and functionalities of their web-based trading platforms well. So, whether you’re sipping your morning coffee or waiting for your bus, you can easily monitor and execute your crypto trades.
The Verdict
In the battle for ease of use, Coinbase emerges as the champion for beginners with its streamlined interface and simple functionalities. Meanwhile, eToro caters to the needs of advanced traders, providing a platform that requires a basic understanding of financial trading.
Remember, the right platform depends on your trading goals and experience level. Whether you’re a crypto novice or a seasoned trader, eToro and Coinbase have something to offer in the exciting world of crypto trading.
Who Should Pick eToro?
This section explores who should pick eToro as their go-to crypto exchange. Let’s break it down!
Social Trading Enthusiasts
If you believe in learning from the best, eToro has covered you. Its unique social trading platform allows you to copy the trades of successful traders in real-time. You can follow their strategies and gain insights from experienced investors, making it an ideal choice for those looking to learn from the pros.
Crypto Enthusiasts
eToro offers a wide range of tradable crypto assets, giving you access to the hottest currencies in the market. Whether you’re interested in Bitcoin, Ethereum, or any other digital or fiat currency, you’ll find it on eToro. Plus, with its crypto wallet, you can securely store your assets and easily purchase and sell crypto.
Low Fee Seekers
One of the significant advantages of eToro is its lower trading fees compared to other crypto exchanges. Compared to Coinbase, eToro charges significantly lower fees for trading crypto assets. This makes it an attractive option for cost-conscious traders who want to maximize their profits.
USA Customers
If you live in the United States, eToro USA LLC was set up with your requirements. It conforms to all required standards, guaranteeing a safe and secure trading environment for American citizens. Customers of eToro can trade with confidence, knowing that eToro has their backs.
Who Should Pick Coinbase?
Coinbase is an excellent choice for individuals and investors looking to enter the world of cryptocurrencies. Its user-friendly interface and intuitive design make it easy for newcomers to navigate and start trading.
Traders and Speculators
For traders and speculators, Coinbase offers a reliable and efficient platform for buying and selling cryptocurrencies.
Merchants and Businesses
Coinbase also caters to merchants and businesses seeking to accept cryptocurrencies as payment. By integrating Coinbase’s payment solutions, businesses can expand their customer base and tap into the growing crypto market.
Summary
In conclusion, it is evident from eToro and Coinbase’s comparisons that each platform has advantages and targets various kinds of traders. Whether you’re a novice or a seasoned investor, choosing the best cryptocurrency trading platform for your requirements requires careful consideration of elements like supported currencies, security precautions, fees, and ease of use. Choose wisely and embrace the exciting world of crypto trading with confidence.
Coinbase is better for beginners, while eToro is better for experienced traders. Coinbase has lower fees and a wider selection of cryptocurrencies, but eToro offers more features, such as copy trading and social trading.
Here are some downsides to eToro:
1. Inactivity fees after 12 months of no trading.
2. Limited altcoin selection in the U.S.
3. eToro Customer support is limited to email and support tickets.
While Coinbase is a popular choice, the best platform depends on individual preferences and trading goals.
Users of the social trading website eToro can mimic the deals of experienced traders. Likewise, Binance is a well-known cryptocurrency exchange where you may trade various digital assets.
Related articles
See more Exchanges-
-
Credit cards are not the easiest way for you to buy cryptocurrencies. Once you know how to go about it, it's pretty easy. So let's understand how you buy cryptocurrency with a credit card.
-
Discover the 15 best crypto day trading strategies. Stay ahead of the market with our updated and effective techniques.
