The big difference is that etoro is a cryptocurrency broker where customers can invest in cryptocurrencies along with stocks, ETFs, and other assets. Coinbase is a dedicated crypto exchange with more educational information, more cryptocurrencies, and more features for cryptocurrency investors. eToro has social trading features, such as copy trading. We recommend the best products through an independent review process, and advertisers have no influence on our selections.
We may receive compensation if you visit the partners we recommend. Read our announcement for advertisers for more information. Investing in cryptocurrency is easier than ever with easy-to-use platforms such as eToro and Coinbase. Although both work well for beginners, eToro is a multi-asset brokerage agency and social trading platform based in the United Kingdom.
In addition, Coinbase doesn't offer the social aspect of trading, while eToro allows people to observe other traders and copy their actions. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of Securities Investor Protection Corp. Therefore, unless the user terms specify otherwise, investors with cryptocurrency assets mixed up on a custodial cryptocurrency exchange could lose their funds as unsecured creditors. This review promotes investment in virtual cryptocurrencies within the EU (by eToro Europe Ltd.).
Investments are subject to market risks, including loss of capital. With no customer service on the phone, except for reporting fraud and locking your account, Coinbase is accessible to users from more than 100 countries and 49 U.S. UU. States, while eToro provides support to more than 140 countries and 45 U.S.
Coinbase isn't available in Hawaii, while eToro users can't live in Hawaii, Minnesota, Nevada, New York, or Tennessee. Both platforms offer a digital wallet. eToro offers an active portfolio for verified users of the eToro platform. It supports more than 120 cryptocurrencies and allows users to store, receive, buy, transfer or convert more than 500 currency pairs.
Unlike eToro, the Coinbase wallet is a separate active wallet and you don't need to have a Coinbase account to use it. Coinbase allows you to store digital collectibles, all ERC-20, BTC, BCH, ETH, ETC and LTC tokens. eToro features a lot of trading pairs due to its broader list of supported fiat currencies, while Coinbase supports fewer fiat currencies. Coinbase accepts fiat currencies such as USD, GBP, and EUR.
In comparison, you can withdraw funds from eToro in USD, EUR, GBP, AUD, RMB, THB, IDR, MYR, VND, PHP, SEK, DKK, NOK, PLN, CZK. Coinbase and eToro use different fee programs. On Coinbase, you'll pay a creator's fee, which is normally 0.50% of the transaction. However, if you are trading large amounts, the fees are reduced as the size of the trade increases.
Financing methods can also incur several fees, with credit cards being the most expensive. Although both platforms are easy for beginners to use, eToro expects traders to have basic knowledge about investing in cryptocurrency. Some of the types of transactions and options available may be unknown to new users. By comparison, Coinbase keeps it simple with a simple interface that allows you to buy or sell.
As an exchange for casual investors, Coinbase offers a comprehensive knowledge base and online support portal. Users can even watch video snippets to earn cryptocurrency. eToro offers fewer educational opportunities with a simple help center. As a social trading platform, it offers a busy community forum where you can ask (or answer) questions.
Coinbase and eToro are online trading platforms that allow users to buy or sell cryptocurrency. Coinbase is an exchange that focuses solely on cryptocurrency investments, while eToro works as a brokerage offering outside the U.S. Customer investment options, such as stocks, ETFs, or commodities. People use cryptocurrency exchanges to buy or sell coins or track various coin-related activities.
eToro also offers a demo platform where beginners can simulatively participate in the market without real financial investment. Both trading platforms have similar registration processes, including requirements to verify your identity and address. However, Coinbase focuses on the simplicity of operations, which means that, other than buying and selling cryptocurrency, reading the news, or checking its watchlist, there isn't much else you can do. By comparison, eToro is a social trading platform.
A social news feed allows you to follow other operators, set up cryptographic alerts, comment on other people's posts, and interact as you would on a social media platform. In addition, you can consult or copy the most popular investors or search for traders based on several parameters, such as a risk score. On each eToro user profile page, you will find details about the user's portfolio and the statistics that show their risk score and previous performance. Merchants can also choose not to have a profile page if they prefer not to share this or other information.
By contrast, Coinbase charges a margin plus a commission depending on your payment method for each transaction. So, if you buy Bitcoin on eToro and sell it a week later, you'll pay a one-time spread of 0.75%. On Coinbase, you'll pay a 0.50% commission (lower for large transactions) when buying and again when selling, plus a possible funding fee. Unlike Coinbase, eToro doesn't offer much education for users.
Instead, the platform offers a rich social trading experience and expects traders to understand industry terms. The app has a little more activity, and beginners may struggle to understand terms like “leverage”. Active traders with some experience are better suited to eToro. We compared Coinbase and eToro by analyzing the overall ease of use and functionality of their browser-based sites and mobile apps for beginners and active traders.
Next, we look at the specific features and how they affected the trading experience. Finally, we look at commission structures, security measures for platforms and wallets, and supported currencies, deposit methods, and types of transactions. Coinbase and eToro are powerful platforms for cryptocurrency traders. Next, we'll compare these two crypto platforms face to face to help you decide which one is best for you.
Generally speaking, users will find the widest selection of crypto options on Coinbase, but the trading and transaction fees may be higher. eToro stands out among users who want guidance on their investments through the company's social investment function, which offers the possibility of copying the transactions made by other investors. eToro also offers access to stocks and ETFs. eToro and Coinbase have different purposes in the cryptocurrency market.
While eToro allows users to buy and sell cryptocurrencies as part of their investment strategy, Coinbase is a true cryptocurrency exchange, allowing you to buy, exchange and withdraw your cryptocurrencies. In the same way, eToro acts as the custodian of the cryptocurrencies it sells. Coinbase also acts as the custodian of your private keys if you only store coins on the exchange. However, they also offer a digital wallet that allows you to control your private keys.
Although both work well for beginners, eToro is a multi-asset brokerage agency and social trading platform based in the US. While eToro doesn't charge any trading fees for opening or closing trades, it does charge a spread that varies depending on the instrument. As a regulated platform, eToro is governed by the highest standards of accountability and transparency and is licensed to offer its services to large parts of the world. However, eToro also complies with the regulations of the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC).
Analyze all the most important metrics of the cryptocurrency exchange brands you choose %26 and compare the proven data side by side with your extensive comparison chart from eToro and Coinbase. Both eToro and Coinbase store that asset in cold rooms until you want to sell, exchange, or withdraw cryptocurrency in your digital wallet. eToro is designed for investors who simply want to be exposed to cryptocurrencies as an asset class or to make speculative purchases. eToro allows users to withdraw their cryptocurrencies to their eToro wallet, but this wallet cannot be used on any decentralized exchange.
For an even more detailed comparison between eToro and Coinbase, see the full feature analysis chart below. eToro charges a commission for the “spread” when buying cryptocurrency, which varies depending on the type of cryptocurrency being purchased. . .