For new crypto brokerage dealers, Coinbase and Robinhood are two stoner-friendly, U.S.- grounded platforms that allow newcomers to buy and sell cryptocurrencies. Robinhood is a crypto brokerage that facilitates deals and lets users buy stock and altcoins. But, you can’t withdraw crypto finances from your Robinhood account. Instead, users must trade their coins and transmit the balance to their exterior accounts. In distinction, Coinbase is a cryptocurrency interaction offering an extensive selection of currencies and payment types. Plus, you can withdraw finances to several account types.
Coinbase equips a secure platform ideal for new users who desire to dip their toes into cryptocurrency. Robinhood is also great for newcomers but offers limited cryptocurrencies. Instead, Robinhood users want to invest small quantities in stocks and crypto.
We corresponded with platforms by examining benchmark and progressive features. Correspondingly, we explored the types of currencies available for users to buy and sell, figure structures, and security options. Inspect our full Coinbase inspection to learn about the characteristics that make it the clear winner in this match-up.
Table of Contents
Fees (Coinbase And Robinhood)
One advantage Robinhood has over Coinbase is the cost to buy cryptocurrencies. On Robinhood, it’s free. You can buy and sell crypto as constantly as you want with no fees whatsoever (and pattern day trading rules that live for stocks don’t presently live for crypto). You’ll still have to pay the spread (the difference between the shot and the asking price).
The SEC disquisition was about Robinhood’s general marketing and general prosecution, not crypto trades.
On Coinbase, it’s not so simple. Coinbase has an extensively varying figure structure, depending on the quantum you’re buying in U.S. dollars and how you’re paying for it.
For illustration, if you’re buying $100 in bitcoin with a disbenefit card, you’ll pay a figure of $3.99. That figure will be a flat $2 If you pay with a linked bank account. Coinbase also charges a spread of about 0.5 for cryptocurrency deals and purchases; that spread may change depending on request oscillations.
Overall, fees at Coinbase can get confusing, and honestly, it feels a little outdated to pay per trade when other brokerages have been moving down from that for times. In Early 2022, Coinbase did raise a direct deposit point that allows users to allocate a portion of their stipend (either USD or the crypto of their choice) to land in their Coinbase regarding each pay period. This service is fully free of charge, and users can set how important of their stipend they want to be distributed to Coinbase, either as a
quantum or as a chance.
Fees winner Robinhood.
| Fees winner Robinhood. | ||
| Fees | Coinbase | Robinhood |
| Wallet | 1.49% | N/A |
| Debit/credit cards | 3.99% | N/A |
| ACH transfer | Free | Free |
| Wire transfer | $10 deposit, $25 withdrawal | N/A |
| Crypto conversion | 0.50% | N/A |
| Purchases | 0% to 0.50% | N/A |
| Trades | 0.50% | N/A |
| Other fees | $0.99 to $2.99 based on the amount | N/A |
Cryptocurrency selection
This is where cryptocurrency feels like further reconsideration for Robinhood, yet it’s Coinbase’s left-hand work. On Coinbase, there are dozens of tradable cryptocurrencies and, indeed, more that can be added to price watch lists. And, Coinbase adds new tradable cryptocurrencies fairly frequently. Robinhood, on the other hand, presently lists seven.
Crypto brokerage selection winner Coinbase.
Crypto credentials
This is another order that Coinbase should win by default; Robinhood is a stockbroker that dabbles in converting USD into cryptocurrency, while Coinbase is a crypto brokerage and exchange that also offers hosted wallets, as well as particular wallets if you want them.
What does that mean? With Coinbase, you have the option to buy crypto with cash and store those coins on Coinbase’s hosted wallets. Or you can shoot those coins to your own Coinbase Wallet, which is fully separate from Coinbase the app. There’s also the free Coinbase Pro exchange, where you can fluently deposit coins from your Coinbase hosted or particular wallets and trade them for a much lower figure. ( Learn further about crypto wallets.)
In short, Coinbase is a good on-ramp for new crypto brokerage users, offering users numerous of the capabilities cryptocurrencies were created for in the first place.
With Robinhood, numerous users can’t shoot coins out of the app nor admit them from an outside wallet. Robinhood is in the process of rolling out a wallet point, and in April of 2022 introduced the service to further than 2 million users. For those not in this group, your only option, for now, is to convert your USD into crypto and also convert it back to USD if you want to profit from any rise in price. Crypto credentials winner Coinbase.
Ease of use
Both apps are incredibly reflexive, fast, clean, and easy to use, and that makes sense. Both companies earn a large portion of their profit through sales volume. The further people are buying and dealing, the further money they make. So it’s in their stylish interest to produce a product that attracts buying and selling, indeed in small quantities, and reduce every bit of split that exists on the way to pressing the” buy” button.
The result is a product that’s excellent for newcomers in the sense that the steal and sell process is stripped down to the basics, though some argue that it actually should not be this easy for newcomers to trade in hazardous, academic means like cryptocurrency.
Coinbase Pro may appear to be a more advanced trading platform. Still, if you’re not ready to dive in, the introductory Coinbase crypto brokerage platform is extremely simple to use, as long as you’re willing to pay those fees. With Robinhood, you’re unlikely to come across anything resembling a sophisticated trading platform.
Ease of use winner It’s a draw. They’re both extremely well-designed.
So which is better, Robinhood or Coinbase?
When it comes to cryptocurrencies, Coinbase is the clear winner then. While its charges can be perplexing and expensive, the option to trade on Coinbase Pro once you’ve gained some experience can help you save money. Robinhood’s free trading is nice, but it doesn’t make up for the lack of crypto brokerage capabilities( the incapability to shoot and admit coins is its most severe failing) and the shortlist of cryptocurrencies to invest in.
But if all you are assuming is the price of cryptocurrencies and you have no intention of actually using the coins and tokens you buy, Robinhood could be a better fit, given the free trades.
Features
Robinhood and Coinbase offer stoner-friendly operations with just the right quantum of features for new investors. Coinbase is a cryptocurrency exchange available to users in over 100 countries, including all 50 countries except for Hawaii.
In comparison, Robinhood is an online crypto brokerage company for U.S. users in 48 countries. But, the differences don’t end there. With Coinbase, investors can
- Buy crypto using a credit or disbenefit card.
- Learn about cryptocurrency through educational vids and tutorials.
- Track trends by watching Coinbase’s online newsfeed.
- Set price Cautions for crypto to admit an announcement in your app or smartphone.
- Make crypto-to-crypto deals on the Coinbase forum.
- Withdraw currency to your hot wallets or PayPal.
- Earn cryptocurrency from watching short vids.
- Use the standalone Coinbase wallets with or without trading on the exchange.
Unlike Coinbase and Robinhood doesn’t offer a digital wallet. You also can’t buy currency using a disbenefit or credit card. Still, the largest difference between the platforms is that users can’t move their coins from their accounts until it’s sold for cash. But you can use your coins to buy exchange-traded finances (ETFs) on Robinhood, and the platform accepts limited orders. Coinbase investors must use Coinbase Pro regarding placing limited orders.
Security (Coinbase And Robinhood)
You’ll find analogous security features on Coinbase and Robinhood, similar two-factor (2F) authentication, and Federal Deposit Insurance Corporation (FDIC) insurance on USD balances. Robinhood provides FDIC insurance, users must “ conclude into Cash Management. ”Coinbase has a slight edge. Coinbase keeps 98 currencies in air-gapped cold wallets and holds an insurance policy to cover implicit breaches of coins in hot wallets. The Cold wallet is also used by Robinhood but doesn’t give specific.
The Securities Investor Protection Corporation (SIPC) covers your ETF, stock, and cash finances if Robinhood goes beneath.
For Coinbase digital wallet users, an translated 12- word recovery phase protects your currencies. Robinhood offers device operation, so you can dissociate them from your account if you see any unknown bias.
Supported Currencies
Coinbase supports far further currencies than Robinhood, with 139 crypto options, and they’re always adding further. By distinction, Robinhood only offers seven coins, and you can also buy these on Coinbase, including Dogecoin
- Bitcoin( BTC)
- Bitcoin Cash (BCH)
- Bitcoin SV (BSV)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
Investors turn to Robinhood because you can buy stock, ETF, and options. Robinhood accepts only USD edict currency, while Coinbase supports USD, EUR, and GBP. Both platforms let you buy coin fragments.
Conclusion
| Coinbase | Robinhood | |
| Main platform features | User-friendly apps Can be accessed in 100+ countries Can withdraw crypto to an online app, platform, or a digital wallet Choose from a variety of coins | Commission-free trades Simple user interface Both crypto and stock trading |
| Security | 2FA verification Cold storage Biometric logins FDIC-insured USD balances AES-256 encryption for Coinbase wallet | 2FA verification, FDIC-insured USD balances Cold storage SIPC coverage for bitcoin, cash, and ETFs Insurance against crypto platform breaches |
| Fees | Per trade cost 0.50% Extra 1.49% for bank account or Coinbase wallet purchases Extra3.99% for credit/ debit card purchases $10 deposit $25 withdrawal fee for wire transfers | Payment for order flow varies by trade |
| Supported cryptocurrencies | 51 | 7 |
| Supported transactions | Buy, sell, send, receive, and exchange | Limit orders, buy and sell |
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