Crypto.com vs. Coinbase: Which Is Right for You? | The Ascent by Motley Fool (2024)

Coinbase and Crypto.com are both popular international cryptocurrency exchanges with a wide range of products. In this Crypto.com vs. Coinbase review, we'll take a look at how the two exchanges compare in terms of fees, security, available cryptocurrencies, and more. Find out which exchange might be best for you in our detailed Crypto.com vs. Coinbase rundown.

There are three main fees to be aware of when using cryptocurrency apps and exchanges: deposit, trading, and withdrawal. Costs can vary depending on the payment method, trading amount, location, and cryptocurrency.

Neither Crypto.com nor Coinbase charge fees to deposit fiat currency (traditional money) via a bank transfer, but both charge for debit card payments. In terms of crypto withdrawals, it's free to deposit cryptocurrencies on each exchange and the withdrawal fee depends on which currency you're moving.

Unfortunately, Coinbase is not very transparent about its crypto trading fees -- it says they are calculated when you place your order but doesn't publish as much detail as other sites do. Coinbase has an entry-level platform where new investors can buy crypto, along with an advanced platform with additional features. Fees are higher on the more straightforward platform than the advanced trading feature.

The maximum maker/taker fee on Crypto.com is 0.4% High volume traders and users who stake Cronos (CRO), the platform's native token, can reduce the trading fees. The maximum maker/taker fee for Coinbase Advanced Trade users is 0.6%, with discounts available for high trading volumes. Simple trades on Coinbase can cost between $0.99 and 1.5% of the total amount, depending on the size of the transaction. Overall the fees on Crypto.com are lower. But Coinbase does offer additional deposit options, such as a transfer from PayPal.

Related: See The Ascent's comparison of Coinbase vs. PayPal.

Did you know? Crypto.com has a credit card. Check out The Ascent's Crypto.com card review.

Both exchanges have a strong selection of digital currencies and investors will be able to buy almost all the popular cryptocurrencies. Crypto.com has over 250 available cryptocurrencies, while Coinbase has over 200. You'll find all the major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Solana (SOL) on both platforms. Each one also offers major stablecoins like USD Coin (USDC) and Tether (USDT). U.S. customers may find there are fewer cryptos available, and some U.S. states have additional restrictions.

Both platforms allow investors to earn interest on certain cryptos; however, Coinbase's interest-earning options are more limited than Crypto.com's. Coinbase customers can stake a handful of cryptos (earn interest by tying them up) while Crypto.com customers can earn interest on over 40 different coins and tokens.

Coinbase and Crypto.com both have highly rated decentralized crypto wallets. These are non-custodial hot wallets (connected to the internet) that are separate from the custodial wallets on the exchanges themselves. You control your keys and your account security. Keys are like a bank PIN, and many crypto enthusiasts argue it's important to control your private key, as it reduces the risk of hacking or having your account frozen.

Both wallets support a wide variety of coins, including all tokens built on the Ethereum network. However, Coinbase's crypto selection could be broader -- it doesn't yet support fairly big coins like Cardano, Algorand (ALGO), or EOS (EOS).

Both exchanges follow industry best practices in terms of security. However, there are some important differences. For example, Crypto.com's insurance only covers assets held in cold storage. However, it says it does not store user funds in hot wallets.

Here's how they stack up:

Coinbase and Crypto.com are both excellent cryptocurrency exchanges with services that will suit different types of customers.

Coinbase charges higher fees, particularly on smaller trades. But its wealth of information and extremely easy-to-use trading platform may work well for first-time crypto investors. It also accepts payments from PayPal, and you can earn crypto by watching educational videos. Plus -- unlike the Crypto.com debit card, -- the Coinbase Visa debit card pays crypto rewards on purchases without any additional requirements.

Crypto.com provides more ways to earn staking rewards, a slightly wider range of coins, and lower fees. However, it has fewer educational resources, and its interface is not as intuitive as it could be. This is especially the case if you prefer to manage your crypto assets through a web browser. The Crypto.com mobile app has a lot more functionality than the web exchange. Finally, users need to commit large amounts of CRO to unlock reduced fees and Visa card rewards, which they may not want to do.

On a practical level, Hawaii residents can't access Coinbase services. Crypto.com is available in Hawaii but is not available in New York.

As with many things in life, there's no one-size-fits-all cryptocurrency exchange. It's important to think about what services you need. A buy-and-hold investor will have different requirements from an active crypto trader who wants to exchange new tokens each day.

RELATED: Check out The Ascent's list of the best places to buy Binance Coin.