Which Crypto Platform Is Right for You?

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eToro vs. Coinbase: The biggest differences

eToro and Coinbase are both well-known platforms that individuals and institutions can use to access cryptocurrencies like bitcoin, ethereum, dogecoin, and others. The two platforms also offer crypto storage options, but they differ when it comes to fees, account options and features, and available investment types.

eToro is the best choice for those in search of social trading features and hands-off investing strategies. The exchange lets you copy the portfolios of top-performing traders, and it also offers pre-built portfolios that it rebalances on your behalf. Unlike Coinbase, eToro additionally provides stock and ETF trading. This makes it a better option if you’re looking to build wealth with investments beyond cryptocurrencies.

Coinbase, on the other hand, is a better option for crypto-focused traders. The exchange not only offers 100+ cryptocurrencies (eToro USA only offers more than 25), but it also provides a vast range of products and services for individuals and institutions. Plus, the platform recently launched the beta version of its NFT marketplace.

fees

1% when you buy or sell a crypto asset; 0% stocks and ETFs

Investment Types

Cryptocurrencies, stocks, and ETFs

fees

1% when you buy or sell a crypto asset; 0% stocks and ETFs

Investment Types

Cryptocurrencies, stocks, and ETFs

pros

  • Can trade bitcoin, dogecoin, ethereum, Litecoin, and a dozen other popular virtual assets; stock and ETF trading available
  • eToro’s Copy Portfolios let you follow and copy the portfolios of experienced traders to enhance your investment returns
  • Several educational resources
  • Web and mobile app access

Cons

  • Not available to residents of New York, Minnesota, Nevada, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, Northern Marianas, and the US Virgin Islands (see a full list of its geographic restrictions here)
  • Limited selection of cryptocurrencies (eToro USA currently offers over 25)
  • No margin accounts

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more information

  • Promotion: None at this time.
  • Features: Dogecoin and 15+ cryptocurrencies, CopyTrader system, Copy Portfolios, and eToro Trading Academy
  • App store rating: 4.6 iOS/ 4.3 Android

fees

0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.50% for Coinbase Pro

Investment Types

Cryptocurrencies

fees

0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.50% for Coinbase Pro

Investment Types

Cryptocurrencies

pros

  • Buy, sell, or store more than 100 cryptocurrencies like bitcoin and dogecoin
  • Educational investment resources, mobile access, digital storage, and customer support
  • Low account minimums
  • Can earn rewards for certain cryptocurrencies
  • Coinbase card lets you spend crypto or USD anywhere and earn crypto rewards; can deposit your paycheck into your account and convert from USD to crypto with no fees

Cons

  • No crypto futures or margin accounts
  • Pay more for lower balances
  • Not for users who want external storage wallets crafted by personal wallet companies
  • High trading and transaction fees

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more information

  • Promotion: Get $5 of bitcoin when you join Coinbase
  • Features: Coinbase Earn rewards, Coinbase Pro advanced account, user-controlled storage, stablecoins, staking, and institutional trading tools.
  • App store rating: 4.7 iOS/ 4.3 Android

eToro and Coinbase’s features and account options also vary.

Is eToro right for you?

eToro is best for both beginners and community-oriented traders who want to take advantage of social features, and it additionally suits hands-off investors, thanks to its CopyPortfolios and automated investing tools. The exchange currently offers more than 25 cryptocurrencies, including bitcoin, dogecoin, ethereum, and cardano.

Plus, the platform recently launched stock and ETF trading. US users can trade full or fractional shares of both types of investments without commissions, but you’ll need at least $10 to begin. This gives eToro USA a leg up on many crypto exchanges, since most only offer cryptocurrencies.

When it comes to its social trading features and automated tools, eToro offers two options: its CopyTrader system and its CopyPortfolios. With the Copy Trader system, you can sift through the portfolios of experts and successful traders and have eToro duplicate the same asset allocation in your portfolio.

Its CopyPortfolios, on the other hand, are prebuilt and regularly rebalanced by eToro. The platform currently offers four: CryptoEqual, CryptoPortfolio, Crypto-currency, and TheTie-LongOnly SmartPortfolio. Minimums for these portfolios range from $2,000 to $5,000.

eToro also eases the transition into crypto trading for beginners by offering both eToro Academy, a collection of guides and videos on all things crypto and investing, and a demo account that lets you trade up to $100,000 without taking on any real risk.

The eToro mobile app is available on iOS and Android devices.

Read Personal Finance Insider’s complete review of eToro here »

Is Coinbase right for you?

Coinbase caters to individual and institutional traders in more than 100 countries, offering access to 100+ cryptocurrencies and account options like staking, crypto-backed loans, crypto payment perks.

The crypto exchange is particularly suitable for beginners, thanks to both its simple web and mobile platforms and investment products like Coinbase Earn. Coinbase Earn pays users for watching educational videos about different cryptocurrencies. For instance, after you watch a tutorial on one of its listed crypto assets (such as amp), you’ll have to complete a quiz. You’ll receive the crypto in your account upon completing the quiz.

Coinbase also offers digital wallet storage services, NFT trading (the exchange recently released a transaction fee-free beta version of its NFT platform), institutional services, and a Coinbase Card that lets you spend crypto and earn rewards in return.

Individuals will have the choice between two account types: the standard Coinbase account and Coinbase Pro. While you can take advantage of all of the non-institutional products Coinbase offers with the standard account, the Coinbase Pro subscription additionally includes a trading API that lets you build trading bots, a Websocket feed that gives you access to real-time market data, charting tools, and FDIC insurance of up to $250,000 on your USD balances.

Institutional clients can utilize the Coinbase Prime trading platform, institutional-grade offline storage, ventures fundraising services for crypto startups, commerce services, and more (see more about Coinbase’s institutional offerings here).

The Coinbase mobile app is available on iOS and Android (you can also use the Coinbase Pro iOS and Android mobile apps).

Read Personal Finance Insider’s complete review of Coinbase here »