eToro vs Coinbase – Crypto Platform Comparison

When it comes to cryptocurrency exchanges, it doesn’t get much bigger than Coinbase and eToro. The two exchanges have made their way to the top of the market with over 100 million combined users from all across the globe. These exchanges are there to help people get into the world of crypto through a safe, community-like environment, offering as much information as possible about potential investments into the blockchain-based world of digital trading.

Each specific exchange has its own sets of advantages & disadvantages, so it’s smart to learn about the differences between them, in order to see which would be more to the trader’s advantage. When it comes to choosing between Coinbase and eToro, it mostly depends on your personal perspective. Any of which can be of great help to beginner traders to learn all there is to know about the cryptocurrency industry, yet one of them will always have the upper hand. 

Both Coinbase and eToro offer trading on numerous cryptocurrencies in the easiest way possible, acting as your own digital wallet, trading platform, and information source, allowing you to hold as many assets as you like, without the need for any third party necessities such as e-Wallets or hardware wallets.  The Coinbase wallet also supports storing non-fungible tokens. eToro expanded into NFTs in April 2022 so their may also support NFTs shortly.

Overall we recommend eToro for its copytrading and Smart Portfolio features and wide range of deposit options including Paypal.

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eToro vs Coinbase – Quick Overview

eToro – Key Pros and Cons

Coinbase – Key Pros and Cons

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eToro vs Coinbase – Web Platform overview

Both eToro and Coinbase offer an online platform which is great for beginners, however, they each have their own unique features. The thing with crypto exchanges is there are no standards and since it’s an industry in its infancy, all kinds of companies and exchanges are experimenting in their own ways to give the user an unmatched experience when compared to other exchanges.

There are loads of Coinbase alternatives out there, such as the Binance exchange, which today is one of the biggest and most vast exchanges on the planet. To learn more about the Binance exchange, one can check out our Binance review.

There are a few points to keep in mind while comparing eToro and Coinbase. Coinbase and eToro are two of the most popular bitcoin trading platforms. Bitcoin is held by 35 million customers in 100 countries at Coinbase, making it the most popular place to buy and sell bitcoin.

Copy trade investors or use a Smart Portfolio on eToro

There are millions of eToro users in over 170 countries, making it the world’s biggest “social trading” platform. eToro focuses on establishing a social trading experience, whereas Coinbase focuses on delivering a comprehensive range of easy investing options.

There is a lot of overlap between the platforms when it comes to offering an exchange for crypto trading, despite their different features. There are several basic distinctions between the two systems, which you should be aware of before choosing one.

eToro vs Coinbase- Mobile App Overview

Mobile trading has never been more critical than it is right now. With the aid of the eToro and Coinbase mobile applications, you can operate from wherever you are and always stay up to date with market shifts. There are many fantastic functions and services available on the browser-based platforms, but here we’ll take a closer look at the eToro & Coinbase applications for mobile traders to see how they stack up.

eToro App for Mobile Trading

For iPhone, Android, and iPad users, the eToro mobile trading app is a tremendously popular part of the broker’s experience. It’s accessible on both Android and iOS. Because of its widespread use and high reputation, the eToro mobile trading app is often cited as one of the finest options available from any broker.

App for eToro Wallets

eToro also offers a mobile wallet app, the eToro Wallet. If you purchase cryptocurrencies using eToro or its crypto trading platform, you may keep them in the eToro wallet. Even on a mobile device, you can access and manage your eToro crypto holdings quickly and effortlessly thanks to the eToro Wallet app. Don’t worry if you missed our explanation of the eToro Wallet: we’ve included it in our eToro review.

Coinbase Mobile Trading App

The mobile app for Coinbase is accessible on both iOS and Android as well and has over 10 million downloads. It is very similar to the interface commonly seen on the web app and just like any other mobile trading app, it allows users to trade cryptocurrencies and stay up to date with market fluctuations on the go.

Coinbase Mobile Wallet App

Having full custody of your crypto assets is possible with the Coinbase Wallet mobile app. This implies that your Wallet’s private keys (which reflect ownership of the coins) are kept on your phone rather than at a centralized exchange like Coinbase.com. To learn more about Coinbase’s wallet features, one can refer to our Coinbase review.

eToro vs Coinbase – Fees

In terms of fees, Coinbase and eToro are significantly different. For fewer well-known alt currencies, eToro pays a maximum of 3.5 percent with its variable spread. If you want to acquire Bitcoin or Ether, you’ll spend between 0.75 percent and 4.9 percent. In addition, eToro charges a $5 withdrawal fee.

Coinbase’s 1.49 percent fixed-rate seems to be an easy victory for the company. However, in other nations, that 1.49 percent tax might rise to as high as 3.99 percent. Single euro payments area (SEPA) withdrawals are additionally charged a $25 wire transfer fee. Coinbase Pro has the lowest transaction costs. For market takers (traders who desire quick order fulfillment), the costs are 0.25 percent and 0.15 percent for market makers (traders who wait on takers to meet a specific price). These costs might be decreased if you trade a lot.

eToro vs Coinbase – Deposit and Withdrawal

On eToro’s platform, fees are calculated using a spread model. The price differential between purchasing and selling a certain cryptocurrency is what we’re talking about here. Distinct coins have different spreads, which change when the market fluctuates. When buying or selling, users on various sites are required to pay a spread. One-time fees for round-off spreads are all that eToro charges for each transaction.

eToro Deposit Charges

A wide variety of deposit methods are available to customers, including bank transfers and e-wallets like PayPal. There are no deposit fees for U.S. and international customers at eToro. eToro does not impose a fee for customers putting money in U.S. dollars in their accounts. Nevertheless, if you deposit a foreign currency, you’ll be charged a tiny currency conversion cost. It costs $10 to open an account on eToro for US and UK residents. The minimum deposit is $50 for customers from many other countries. Deposits made via bank transfer are immediately reflected in the account.

eToro Withdrawal Charges

eToro allows you to store your crypto assets in your account like other exchanges. In the event that you wish to transfer your cryptos from your eToro account to a different crypto wallet, the procedure is simple. All withdrawals on the site are subject to a $5 fee. Withdrawals may be made for as little as $30. There are various charges associated with using the eToro Wallet. When you transfer money from your eToro account to your eToro wallet, there is a 0.5 percent fee. The smallest fee is $1, while the largest is $50.

When it concerns Coinbase fees, it all depends on what you’re wanting to do with your account. There will be costs associated with every transaction, including deposits, withdrawals, purchases, and sales of bitcoin. Let’s take a closer look at the costs.

Coinbase Deposit Charges

Debit card deposits have a 3.99% charge with each payment. European bank transfers are charged a flat rate of 15 cents. UK bank wire and Swift deposits are completely free of charge, while US wire transfers have a $10 USD flat rate, yet if you use ACH bank transfers, it is also free.

Coinbase Withdrawal Charges

Debit and Credit card withdrawals are not applicable. SEPA withdrawals have a fee of just 15 cents. US ACH bank withdrawals are free of charge, but normal US wire transfers are charged a fee of $25 USD. For UK users, both Swift payments and UK bank withdrawals have a surcharge of 1.00 GBP.

Which gives you the best value for money?

Overall, eToro has the upper hand in terms of fees on both transfers, and deposits/withdrawals. To get the most out of your money, it’s ideal to use eToro. eToro is the clear winner when it comes to trading costs when comparing the two sites.

Coinbase, on the other hand, has a gradual increase in fees over time – limit orders also used to be free on Coinbase, but aren’t anymore.

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eToro vs Coinbase – Security

When weighing the pros and cons of using a cryptocurrency exchange, one of the most critical considerations is safety. You don’t want to put your own money in danger, so why would you deposit it? Hacks are all too prevalent in the Bitcoin world.

Is eToro safe?

eToro hasn’t been hacked in its history of operating, one of the few crypto platforms that hasn’t.

UK-based Financial Conduct Authority (FCA) oversees eToro, as does the European Union’s Cyprus Securities and Exchange Commission (CySEC). Compliance with MiFID (Markets for Financial Instruments Directive) and ASIC regulations is guaranteed on the platform (Australian Securities and Investments Commission).

If you’re looking for an established online trading platform, eToro comes highly recommended. The platform has a proven track record of safely keeping customer assets for more than a decade, giving investors peace of mind while trading various asset classes.

In an interesting twist, eToro-X users have a bigger percentage of their cash in cold storage. There is less risk of losing money due to a cyberattack or operational mistake as a result of this policy. CaaS (Custody as a Service) has been implemented on the exchange, in conjunction with GK8 (a major cybersecurity business).

Is Coinbase safe?

Even though Coinbase is one of the few licensed exchanges, it has been the subject of multiple hacking problems in the recent past.

More than 40 BTC were stolen from Coinbase customers in a series of attacks that began in January 2018. Some individuals were hacked many times and lost $10,000 in Bitcoins. Despite the fact that Coinbase has introduced some security precautions to avoid attacks, the exchange has still had security issues.

Here’s a list of Coinbase’s most significant security measures:

• Logging in with Google Authenticator requires two-factor authentication (2FA)
• Delayed lock on withdrawals
• When using a new device, you’ll get an email confirmation
• The Federal Deposit Insurance Corporation (FDIC) up to $250,000 (when using a USD wallet to store funds)
• Logging in requires several signatures
• 98% of all crypto coins are kept safe in cold storage

eToro vs Coinbase – Supported Cryptos to Trade

To trade a range of things, eToro is a clear choice. Because Coinbase wants to focus solely on the buying and selling of crypto and fiat currencies, it doesn’t even bother to get into the ETFs, commodities, and stocks that eToro offers for your investment portfolio. In the case of cryptocurrencies, however, things are a bit different. Coinbase has a lot more options than eToro.

Both platforms feature the most popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Whether you’re interested in Zilliqa (ZIL) or Basic Attention Token (BAT) etc., they have you covered.

List of Cryptos on eToro

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List of Cryptos on Coinbase

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In this case, we can clearly see that Coinbase is at an advantage when it comes to the variety of cryptocurrencies available. However, this is easily foreseeable since eToro is focused on a much wider market when it comes to the variety of different types of assets like stocks, commodities, and more, whereas Coinbase is focused mainly and solely on cryptocurrency.

Update – eToro also added ApeCoin (APE) in March 2022, as did Coinbase.

eToro vs Coinbase – Supported Cryptocurrencies to Stake

Crypto staking allows you to earn passive income while holding even if the valuation of the crypto assets don’t go up or go down slightly over time.

The benefits of staking with eToro

It’s easy, safe, and hassle-free to stake your money with eToro. No action is needed from users to get monthly staking rewards in the supported crypto asset.

In return, eToro users entrust the entire staking process to eToro, which ensures that the staked crypto assets remain the property of eToro users.

In order to safeguard our users’ crypto assets from extra dangers, eToro takes great effort to ensure that they do not have to deal with the inconvenience and complications of staking their own crypto assets. So eToro keeps a tiny portion of the profit as a charge, to pay the expenses associated with running the service.

Stakable cryptocurrencies on eToro

Stake Crypto on eToro

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The benefits of staking with Coinbase

“Proof of Stake” settlement mechanisms are currently used by several cryptocurrencies to guarantee that all transactions are confirmed and protected without the need for a bank or payment processor in the midst of the transaction.

Staking a portion of your assets for a certain period of time earns you benefits for helping to keep the network safe with these types of cryptocurrencies. Rewards will be given in return for your cooperation. If you’re going to keep your cryptocurrency for a longer amount of time, this is a great way to put it to work for you instead of just sitting there.

Eligible users may stake Tezos, Cosmos, or ETH and earn up to 5% interest (depending on the kind of asset invested) by June 2021 through the main Coinbase app or website. For more information, one can visit coinbase.com/staking.

Stakable cryptocurrencies on Coinbase

Coinbase has the wider variety of cryptocurrencies you can stake, even though eToro does have exclusivity with Tron, as Coinbase does not support TRX staking. 

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eToro vs Coinbase – Unique Features

Both crypto platforms have certain features and advantages compared to other cryptocurrency exchanges in the industry.

What makes eToro unique?

Without a doubt, eToro’s most distinguishable feature is the copy trading feature, which gives users the chance to see what other experienced and professional traders are doing in real-time while being able to do the exact same trades at the same time using automated software.

This feature is one of a kind and it’s what makes eToro one of the leading exchanges for rookies and newcomers, in order to get into the scene easily without any prior knowledge on what they’re investing in, without needing to worry since they are automatically following the steps of those who have been doing it for a long time. The best part is you don’t even have to be logged in and check the market all the time because the special software automatically does everything for you.

What makes Coinbase unique?

Anyone can buy, sell, store, and trade cryptocurrencies on Coinbase’s beginner-friendly platform. To those who are still newbies in the world of trading crypto, it’s ideal for those who don’t have time to learn how to use a separate digital wallet or decentralized exchanges.

It would be ideal however to learn your way around more complex systems and use their advanced Coinbase Pro version, which can have a lot of information on any level. This seems like something just for expert traders, yet anybody who has an account on the platform may utilize the pro version. Limit and stop orders, which aren’t accessible on Coinbase’s basic platform, are two of the exclusive trading methods offered on Pro.

eToro vs Coinbase – Final Verdict

Coinbase is a good introductory platform for those who have never invested in cryptocurrencies. There is limited transaction type variety, however, it does provide plenty of user education through the professionals behind the industry. Even those with no prior knowledge of cryptocurrencies can figure out how to utilize its easy-to-use U.I. while learning all there is to know through the Coinbase developers’ shared knowledge.

When it comes to eToro, the website offers a dynamic communal trading environment and you can copy trade other professional investors, either day traders or long-term investors and their portfolio allocation of altcoins. There’s also a DeFi portfolio for DeFi coins.

When it comes to choosing which of the two platforms to use, it mostly depends on personal preference, however thanks to cheaper fees, the special copy-trading feature, and the wide variety of investment assets like stocks, commodities, and more, which Coinbase fails to provide, eToro is our recommendation. It also supports more deposit methods like Paypal so is the better platform in terms of a fiat currency on-ramp.

eToro - Our Recommended Crypto Platform

Our Rating

• ASIC, CySEC and FCA regulated - 30 Million Users Worldwide
• Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort
• Free Demo Account, Social Trading Community
• Free Secure Wallet - Unlosable Private Key
• Staking Rewards for holding ETH, ADA or TRX
• Copytrade Professional Crypto Traders

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