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. Overall, our comparison between eToro and Coinbase revealed that eToro is the best cryptocurrency exchange for most traders. Coinbase is more suitable for experienced traders and for trading less common altcoins.
In everything else, including low fees, easy-to-use trading tools, and simple payouts, eToro excels. eToro is designed for investors who simply want to be exposed to cryptocurrencies as an asset class or to make speculative purchases. On the contrary, Coinbase is designed to give users easy access to a wide range of cryptocurrencies, educate them about the blockchain, and give them ownership of their crypto assets. By copying a trader on eToro, you decide how much money you want to allocate to the copied wallet.
The eToro website also has a detailed online knowledge base with detailed articles on how to open an account, payments and fees, trading features, and more. Coinbase Pro and eTorox allow advanced users to access more tools and types of operations at a potentially lower cost. Its cryptocurrency division has grown to include eTorox Exchange and eToro Wallet, two products independent of the main eToro platform. Coinbase currently offers more than 100 cryptocurrencies to trade, while eToro offers more than 60 and counting.
eToro has a comprehensive help center that provides basic information about trading, as well as answers to the most common user problems. The platform has color-coded price charts similar to those on eToro, and you can quickly switch between performance for the last hour, day, week, month, or year. eToro also offers a beginner-friendly experience and has more than 30 popular cryptocurrencies available for trading. eToro is easy to use and affordable, and offers plenty of trading tools to help you monitor the market.
eToro Academy offers a series of video tutorials that explain the basic concepts of the cryptocurrency market and highlight the most popular cryptocurrencies. As a beginner-friendly platform, eToro also offers a variety of training and customer support materials for users, ensuring that help is available when they need it. The eToro order form has a few additional parameters available for trading, but you can safely ignore them if you're only interested in long-term investing. eToro users who invest in a CopyPortfolio allow eToro to manage their capital professionally and avoid guesswork when it comes to trading.