eToro and Coinbase are popular cryptocurrency exchanges that will appeal to a wide variety of traders. In this eToro vs Coinbase comparison, we delve into everything from security to the available cryptocurrencies and trading fees.
eToro and Coinbase are among the best platforms in the industry when choosing the best Crypto exchange in Australia. eToro and Coinbase are dealing in a wide range of cryptocurrencies today. They also offer flawless payments, mobile apps for my technical trading tools, and more. So how do we decide which exchange is right for us?
- 1 eToro Vs Coinbase – Reviewed
- 2 eToro Vs Coinbase – Compared
- 3 The eToro Exchange
- 4 What Are eToro Hidden Fees?
- 5 Is eToro Legal In Australia?
- 6 eToro Pros and Cons
- 7 The Coinbase Exchange
- 8 How To Get Money Out Of Coinbase In Australia?
- 9 Coinbase Pro In Australia
- 10 The Pros and Cons Of Coinbase
- 11 eToro Features
- 12 Coinbase Features
- 13 eToro Vs Coinbase Features Winner
- 14 eToro Fees
- 15 Coinbase Fees
- 16 eToro vs Coinbase Fees Winner
- 17 eToro Spreads
- 18 Coinbase Spreads
- 19 eToro vs Coinbase Spreads Winner
- 20 eToro Security
- 21 Coinbase Security
- 22 eToro vs Coinbase Security Winner
- 23 KuCoin vs Binance Supported Coins
- 24 eToro vs Coinbase Conclusion
eToro Vs Coinbase – Reviewed
In this guide, we will try to compare eToro vs Coinbase head to head to help us decide which is a better platform for our trading strategy.
For many investors and traders, eToro and Coinbase can work as they are both flexible crypto exchanges. Both eToro and Coinbase provide beginner-friendly tools in addition to more advanced technical charts and trading purposes.
The most important difference between eToro and Coinbase is how many cryptocurrencies can be traded on each platform.
Currently, 100 cryptocurrencies are offered by Coinbase for trading, while eToro offers 59 and counting.
eToro Vs Coinbase – Compared
|Currencies Accepted||14+ currencies||USD, EUR, CNY, AUD|
|Trading Fees||0.1% – 0.75%||Up to 3.99%|
|Daily Deposit Limit||$10,000||$25,000|
|Deposit Method||Debit card, credit card, PayPal, Bank transfer||Debit card, credit card, PayPal, Bank transfer|
|Built-in Crypto Wallet||Yes||Yes|
|Supported Devices||Web, iOS, and Android||Web, iOS, and Android|
|Security||Two-factor authentication||Two-factor authentication|
|Verification Speed||Up to 3 Days||2-3 minutes|
The eToro Exchange
eToro exchange is a multi-armed dealer and cryptocurrency exchange founded in Israel in 2007. This program makes it easy for us to buy stocks and ETFs, cryptocurrency, and CFDs (contracts for differences) for commodities and Forex.
Its goal is to be one of the multiservice platforms for financial fortune. eToro crypto exchange introduces itself differently from other multi-asset platforms in a few ways.
Firstly, it’s one of the only multi-featured brokerages that serves as a true crypto exchange- that is, we can buy and sell cryptocurrencies outright instead of only dealing with them with derivatives.
Secondly, it provides a built-in social trading Network and also supports copy trading.
What Are eToro Hidden Fees?
The dealing costs are contained in a single charge on eToro exchange. The percentage of the spread for buying and selling is the entire fees of the trade- zero fees, no hidden charge, nothing.
A flat fee of $5 is charged to cover the processing cost of withdrawals while depositing US dollars on eToro is completely free.
Is eToro Legal In Australia?
In Australia,eToro is legal, and ASIC regulates it; we can read about eToro’s success in the FinTech industry from top-tier publications, such as CNBC, TechCrunch, and Telegram. It is a safe broker to use.
eToro Pros and Cons
In this segment of the article, we are going to share some of the pros and cons of eToro as per our review.
- Independent stock and ETF trading
- Absolut account opening
- Social trade
- Safe to use
- Customer service
- High non-trading fees
- Only one account base currency
The Coinbase Exchange
Coinbase is a US-based cryptocurrency exchange established in 2012. It handed over an IPO on the Nasdaq stock exchange and is currently the largest cryptocurrency exchange in the US by trading size.
Coinbase exchange only offers cryptocurrency and Crypto related assets, which is not similar to eToro.
We can buy and sell 96 cryptocurrencies and borrow cash using Crypto and earn Crypto interest by lending out our cryptocurrency.
Coinbase does not operate behind the scenes as many similar Crypto exchanges do, and it has worked hard to cooperate with regulators in the US. The Coinbase exchange holds a license in 42 US states.
How To Get Money Out Of Coinbase In Australia?
It is tricky for the customers to withdraw money from the Coinbase account. To withdraw cash from Coinbase, we will have to go through the following steps:
● Crypto to Fiat conversion
● Withdraw our Fiat balance
At first, it will seem not very easy, but they are very simple.
Coinbase Pro In Australia
The support for GNT and DAI will initially be accessible for Coinbase Pro users in the US(excluding NY), the UK, EU, Canada, Singapore, and Australia.
MKR and ZIL would not be initially obtainable to customers in the US but will be available to US users in the UK, EU, Canada, Singapore, and Australia.
The Pros and Cons Of Coinbase
In this segment of the comparison, we are going to discuss some of the pros of using Coinbase and along with that, we will also dive into not-so-good aspects of Coinbase.
- Liquidity is high
- Availability of cryptocurrency
- Easy platform to use
- The best user interface out there
- Offers learning programming
- High fees when not using a pro version
- Bank centralized
● Copy Trading- For us, the default feature available in the eToro app is the copy trading option. There are thousands of proven copy traders available so you should have no trouble finding the investor that best fits your long-term investment goals.
● Short selling- Short selling is a popular tool these days because it allows us to speculate about a company reducing its value. It does not matter what the overall economy looks like, we can still have a standard chance of winning. Using the stock app, we can short sell every share that the broker hosts.
● Leverage- Being the home for so many CFD instruments, leverage is to be expected. This means that we can trade with more money in our accounts. The gist is as follows: if we are based in the UK or Europe, the limits imposed by ESMA will restrict us.
● Coinbase’s developer platform was to give developers a chance to construct APIs that report historical cost information and real-time data of a supported Crypto.
● Enterprise is a marketplace platform for companies that use different currencies for their products and services. To introduce cryptocurrency as a means of payment, these companies can search and find the best products to create an easy and secure system.. This helps the customers of Coinbase to buy coins using Crypto.
● For traders who want to enter the market, the cryptocurrency platform has been really helpful. Their traders can buy several factors like Bitcoin, cash, Ether, Bitcoin, etc.
● Coinbase mobile wallet helps the traders to hold a process safely.
eToro Vs Coinbase Features Winner
Both eToro and Coinbase have excellent user experiences, and the ease of using these platforms makes it a big part of why they are so popular among Crypto investors and traders.
At eToro, we will get a personalized dashboard where we can explore the Crypto market. The dashboard shows the biggest winners and losers of the day and what cryptocurrencies are most popular among users.
The platform also offers a series of 8 technical indicators to issue buy, sell, and hold ratings for most cryptocurrencies, making it easy to identify the potential trades.
Both exchanges offer free mobile Crypto apps for iOS and Android. The app has all the necessary features required. We can deposit funds to monitor the market and buy and sell cryptocurrencies through these apps.
Compared to traditional security firms, online security firms charge fewer fees and this is due to the fact that online security firms are much more scalable and require much lower cost to operate.
At different events, online brokers make money by charging their customs different fees. eToro financing rates are generally low to stop if we want to trade on Profit and prefer to hold our positions long, though, financing costs can be significant.
Depending on Coinbase ‘s standards platform is relatively higher when compared to its competitors.
The technical Crypto brokerage also has a complicated system that is expensive if we are not using coinbase Pro.
The reason fees and pricing are not clear is that the interchange offers several different products and services to its customers as each has its own custom pricing model.
eToro vs Coinbase Fees Winner
Generally, eToro has some of the lowest prices of any Crypto exchange in the US. Investors and traders pay 1% of our transaction value when we buy Crypto and an additional 1%.
If we trade with Coinbase, the fee structure is entirely different. Traders pay a fee from 0.00% to 0.60% depending on whether to add or subtract liquidity with our trade.
On the eToro crypto trading platform, the spreads are different. Every object has its buy price and a selling price. The difference between the two prices is called the spread which contains the commission that our broker charges for the product. The eToro weekend is triple the amount of an overnight
The TheCoinbase exchange charges some different fees that we should be aware of before we go for it. Coinbase does not charge any buying cause or any selling cost. It means that they do not charge any amount for transferring our cryptocurrency from coinbase to another wallet.
eToro vs Coinbase Spreads Winner
eToro exchange offers priority research into the Crypto market to help us make trading decisions. This research includes a breakdown of everything we need to know about a cryptocurrency, including its past market cap and how many buying and selling activities are going around it.
Socializing and copying trading- the social and replicate trading capability is the most important feature distinguishing it from Coinbase and other crypto exchanges.
eToro crypto platform offers two-factor authentication for the login process to minimize the possibility of someone accessing your account without your permission.
In addition, the eToro exchange stores funds on its cold storage platform, although all funds stored via the eToro Money crypto wallet are stored in hot storage, so keep that in mind.eToro has two versions that users can share based on their level of experience
The latter maintains more stablecoins in its trading pairs than fiat currencies and has a portfolio that supports deposits in a total of 11 cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin. The platform also supports twelve stablecoins
Coinbase is operated by the US and holds licenses for 42 States, Puerto Rico, and the District of Columbia.
It also contains an e-money license from the UK. Coinbase takes major security measures to ensure our account and cryptocurrency investment remain as it was possible but ultimately security is a priority.
eToro vs Coinbase Security Winner
Regarding eToro vs Coinbase security, both are regulated crypto exchanges with two exchanges with strong track records.
The UK finance conduct authority (FCA) controls eToro. It is also influenced by the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and investments commission (ASIC).
All client fees are kept in a Tier 1 bank, and the FDIC insures cash deposits for up to $250000. With two factor authentication, all our data is secured in the application
KuCoin vs Binance Supported Coins
Coinbase’s recent efforts to expand its cryptocurrency selection are reflected in the 90 exchange-backed cryptocurrencies.
The selection includes almost all coins in the top 30 by market cap, with a few exceptions such as Binance Coin (BNB) and VeChain (VET).
eToro exchange lists nearly 30 cryptocurrencies. The biggest coins like Bitcoin, Ethereum, Binance Coin, and Cardano (ADA) are available, but new up-and-coming coins like Solana (SOL), Terra (LUNA), and Polkadot (DOT) are not. eToro users may have difficulty exchanging new popular coins.
The eToro portfolio only supports Bitcoin, Bitcoin Cash (BCH), Ethereum, Ripple (XRP), Litecoin (LTC), and Stellar Lumens (XLM).
The Coinbase portfolio supports all ERC-20s (built on top of the Ethereum network), as well as Bitcoin, Bitcoin Cash, Litecoin, Ripple, Stellar Lumens, and Dogecoin (DOGE).
So who wins? A comparison of the overall scores for cryptocurrency exchanges between Coinbase and eToro exchanges shows that Coinbase has a higher overall score of 9.6, while eToro has an overall score of 8.6.
If we look at the user experience, it becomes clear that Coinbase has a better and smoother user experience than eToro
eToro vs Coinbase Conclusion
eToro may be a better fit for more active retailers who value lower costs. It also offers unusual social trading features such as copy trading, where clients can mirror offers from top-performing traders.
There are demo accounts where people can test trading strategies without risking any capital. Additionally, customers outside the United States can use the stock trading platform, which can offset the limited number of cryptocurrencies on offer.
Coinbase is a great option for first-time cryptocurrency traders, although the fees are slightly higher.
It has excellent educational resources and a very easy-to-use interface. It will also offer a Coinbase Visa debit card in the United States that pays for crypto rewards.