Cryptocurrency investing is one thing that’s comparatively new nonetheless, however undeniably widespread. Decentralized currencies promise buyers a hedge towards issues like inflation. However what’s one of the best platform to commerce crypto: Robinhood vs Coinbase?
Plenty of buyers need info to check Coinbase vs Robinhood and we’re right here to assist. Whereas each are digital platforms the place you may commerce cryptocurrencies, there are some necessary variations. Which platform is best on your crypto funding wants?
Robinhood is an digital buying and selling platform that’s regulated by the SEC. On the corporate’s widespread app, buyers should buy shares, ETFs, and a restricted variety of crypto cash. Among the hottest cryptocurrencies can be found, together with Bitcoin, Ethereum, and Dogecoin. In whole, they provide 19 completely different cash for buy.
Robinhood’s declare to fame is that they don’t cost a price for trades. They do provide a premium subscription possibility, Robinhood Gold, that prices $5 monthly.
Coinbase can be a buying and selling platform, but it surely focuses completely on cryptocurrencies. They’ve roughly 240 digital property and 300 supported buying and selling pairs out there with Coinbase Prime.
Individuals who need their alternative of cryptocurrencies or who need entry to cryptocurrency assets could want Coinbase.
The SEC says it has regulatory authority over Coinbase, however Coinbase has contested that and is pursuing clarification in court docket. Their declare is that cryptocurrencies don’t fall underneath the present definition of ‘safety’ and require a brand new definition and separate regulation.
The first distinction between Robinhood and Coinbase is within the variety of cryptocurrencies you could commerce there and whether or not different funding lessons can be found. We’ll get into the small print of each points later on this overview.
Now, let’s dive into whether or not Coinbase vs Robinhood for crypto is the suitable alternative for you.
Robinhood vs Coinbase – Which Platform is Greatest for Cryptocurrency?
There’s no query that each Robinhood and Coinbase provide worth to customers. Which one’s greatest for which sort of investor? Right here’s our rundown.
Robinhood gives no-fee crypto buying and selling for all supported property, though there are some quantity charges baked into their charges. That stated, they nonetheless declare to supply buyers extra worth for his or her cash than different platforms, together with Coinbase.
In the event you’re already a Robinhood buyer, then you could wish to take into account getting your ft moist with crypto within the app you’re already utilizing for different investments. There’s a comfort issue for present Robinhood customers and it’s undeniably helpful to have the ability to handle your entire investments, together with crypto, in a single place: thereby simplifying your funding technique.
Individuals who aren’t already utilizing Robinhood or who desire a broad array of crypto to purchase usually tend to profit from utilizing Coinbase. Customers have the flexibility to simply convert one cryptocurrency to a different, which can be helpful.
By way of investor varieties, we should always speak in regards to the danger concerned with shopping for crypto typically. Cryptocurrencies are usually way more unstable than shares or ETFs. We wouldn’t suggest shopping for solely crypto. Our rule of thumb is that buyers shouldn’t put more cash into digital property than they’ll afford to lose.
On the entire, we’d say that newbie buyers and those that need an all-in-one funding buying and selling resolution will likely be higher off utilizing Robinhood, whereas skilled crypto merchants could want Coinbase for its massive collection of cash and crypto conversion.
Professional Tip:
Enroll in the present day and get $50 of BTC after making your first commerce on Coinbase, or obtain as much as $1500 of inventory per 12 months by referring pals on Robinhood!
Robinhood vs Coinbase – Characteristic Comparability
Robinhood and Coinbase each have options which might be helpful to buyers. Let’s begin with Robinhood. Listed here are the options that you just’ll get in case you commerce crypto with Robinhood.
- Consumer-friendly app
- Capability to commerce 19 completely different crypto cash, together with Bitcoin, Ethereum, Dogecoin, Shiba Inu, and extra
- Price-free buying and selling
- In-app help
- Robinhood crypto pockets
- Fractional shares are allowed for all out there cyrtocurrencies besides Dogecoin, the place the minimal quantity to purchase is one coin
- Begin shopping for cryptocurrency with as little as $1
Robinhood has applied a broad array of security measures to guard customers from hacking and theft. Right here’s a breakdown of what they’ve put in place.
- Two-factor authentication (2FA) in order that no person can entry your account and not using a texted code
- Devoted crypto pockets for buyers
- Most of buyers’ cryptocurrencies are saved offline in a chilly pockets
- Robinhood has bought insurance coverage to supply some safety to insurers. (As a reminder, Robinhood deposits aren’t insured by the FDIC the best way financial institution deposits are.)
Now, let’s have a look at Coinbase. Listed here are the options you’ll discover there.
- Purchase and promote over 240 forms of crypto
- Ship and obtain cryptocurrencies without cost (amongst Coinbase customers, exterior mining charges apply)
- Cryptocurrency one-stop-shop, together with major stability service, an trade, and service provider instruments throughout the identical interface
- Use with an present crypto pockets in case you want
- Start buying and selling with as little as $2
Right here’s an inventory of Coinbase’s security measures:
- State-of-the-art encryption and safety
- Transparency about how and when info is shared
- 2FA with safety key help
- Password safety
- Insurance coverage to guard some property from theft or safety breaches
You’ll have to remember the fact that neither firm’s insurance coverage coverage will defend you in case you share your password and expertise theft of crypto property because of this.
Robinhood vs Coinbase – Price Comparability
Now, let’s have a look at Robinhood vs Coinbase charges. Take into account as you overview these that some charges will not be apparent, and we’ll level these out.
Buying and selling Charges
Robinhood touts its “free-free” buying and selling, however let’s speak about what that basically means. It’s true that you just gained’t see any itemized price whenever you purchase or promote crypto. That stated, you’re undoubtedly getting charged a price.
Robinhood makes its cash by rolling the price of buying and selling into a ramification markup on the commerce. What which means is that you just’ll pay extra whenever you’re shopping for and obtain much less whenever you’re promoting than you’d in case you bought one of the best market worth. You’ll be able to estimate what you’re paying by evaluating the acquisition worth to the stay market worth.
Coinbase is equally cagey about its charges, however they’re utilized in tiers. You’ll pay extra if you are going to buy a small quantity and fewer if you are going to buy a considerable amount of crypto. For instance, with a small commerce you’ll pay a flat price plus a 0.5% markup of the acquisition worth of no matter coin you’re shopping for.
Further Charges
Robinhood expenses charges (underneath some situations) for withdrawing cash out of your account. Normal withdrawals are free, however in case you do an immediate financial institution withdrawal or a withdrawal to a linked debit card, you could pay as much as 1.75% as a price.
Coinbase gives free ACH transfers, however expenses $10 for wire deposits and $25 for wire withdrawals. In addition they cost $3.99 for debit card withdrawals.
Abstract Desk of Charges
Right here’s a fast comparability of charges (insofar as charges have been disclosed) so that you can overview.
| Robinhood | Coinbase | |
| SEC/FINRA charges | $27.80 per $1m of precept | |
| Buying and selling Price | Unfold price (hidden) | Base price plus 0.5%. The bottom price is $0.99 for transactions $10 or much less and vary as much as $2.49 for transactions as much as $200. Quantities over $200 nonetheless pay the 0.5% price. |
| ACH | No price | No price |
| Wire Switch | As much as 1.75% | $10 for deposits and $25 for withdrawals |
| Debit Card | As much as 1.75% | $3.99 flat price |
Professional Tip:
Enroll in the present day and get $50 of BTC after making your first commerce on Coinbase, or obtain as much as $1500 of inventory per 12 months by referring pals on Robinhood!
Robinhood vs Coinbase – Consumer Expertise Comparability
Each Robinhood and Coinbase have centered closely on the person expertise to ensure that their respective platforms are simple to navigate.
Coinbase has a easy interface and is user-friendly for each newcomers and skilled customers. There’s a menu on the high of the house web page. Right here’s a glance what you’ll discover in case you click on on Cryptocurrency.
Buyer help is a key factor of the person expertise. Coinbase gives 24/7 phone help. In addition they have a devoted Coinbase Help Middle the place you may ask questions, get on-line assist, or make options.
Robinhood additionally has an easy-to-understand interface. They began as a cellular app, so it ought to come as no shock that the app expertise is nice for customers.
We like that it’s simple to entry Robinhood. Transactions take nearly no time to finish and total, the UX is superb.
There’s 24/7 customer support by means of the app. One factor we want have been completely different is that there’s no cellphone help. At the moment, the one possibility is to ship a message by means of the app and watch for a response.
Robinhood vs Coinbase – Which Platform is Greatest for Crypto Buying and selling?
Right here’s our overview of which platform is greatest for crypto buying and selling.
Coinbase’s Crypto Choices
As we’ve already famous, Coinbase gives a powerful checklist of cryptocurrencies for buying and selling. These embrace those everyone knows, corresponding to Bitcoin, Ethereum, and Dogecoin. It additionally features a bunch of others that you could be not be aware of:
- Polkadot
- Avalanche
- Pepe
- SWELL
- Fantom
- Arbitrum
- Filecoin
There are too many to checklist right here: greater than 240 in whole, plus 300 pairings. If you wish to purchase a wide range of cryptocurrencies and supported property, Coinbase gives way more choices than Robinhood for crypto buying and selling for superior crypto merchants.
Robinhood’s Crypto Choices
Robinhood began as a buying and selling platform for shares and ETFs and is a relative newcomer on the earth of crypto buying and selling. As of November 2024, they provide a complete of 19 cash for buying and selling, together with:
- Bitcoin
- Ethereum
- Dogecoin
- Litecoin
- Solana
It’s possible that Robinhood will add further cash sooner or later. We are saying it’s a great possibility for present Robinhood customers who wish to get their ft moist with cryptocurrency, however not the suitable alternative for superior crypto buyers.
Comparability Desk: Out there Cryptos
| Cryptocurrency | Coinbase | Robinhood |
| Bitcoin | Y | Y |
| Ethereum | Y | Y |
| Dogecoin | Y | Y |
| Solana | Y | Y |
| Cronos | Y | N |
| Aptos | Y | N |
| Litecoin | Y | Y |
| Render | Y | N |
| The Graph | Y | N |
| Popcat | Y | N |
That is only a small sampling of what Coinbase has out there.
Professional Tip:
Enroll in the present day and get $50 of BTC after making your first commerce on Coinbase, or obtain as much as $1500 of inventory per 12 months by referring pals on Robinhood!
Is Robinhood Higher than Coinbase?
By now, you’re in all probability questioning if Robinhood is best than Coinbase. Right here’s our rundown.
Coinbase has a ton of academic assets plus a broader coin choice than Robinhood. The platform’s deal with crypto implies that it’s very best for skilled crypto buyers and might also be helpful for newcomers who wish to get began with crypto.
We additionally like that Coinbase has prioritized safety and that there’s the flexibleness to make use of your present crypto pockets.
Robinhood has a user-friendly app that makes it very simple to commerce shares and to get began with crypto investing. It gives zero-commission trades, though there are some baked-in charges to contemplate.
Like Coinbase, Robinhood has taken pains to make its platform safe and to guard buyers. We respect that buyers, notably newcomers, can combine their crypto investing with different securities, together with shares and ETFs.
Conclusion
Evaluating Coinbase vs Robinhood, our takeaway is that Coinbase is designed for individuals who wish to get severe about cryptocurrency buying and selling and their crypto property and are on the lookout for a wide selection of cash to purchase and promote. It has greater than 10 instances the variety of cash that Robinhood does, it’s simple to transform one forex to a different, and there are many academic assets to assist buyers study crypto. If you’re interested by how Coinbase stacks as much as a competitor corresponding to eToro, try our overview evaluating the 2: ETORO VS COINBASE!
Newbie buyers who need an app to seamlessly combine cryptocurrency buying and selling with shares and ETFs could want Robinhood. Whereas there aren’t as many cash that can be purchased, the preferred cash are there. Try our information reviewing crypto buying and selling on Robinhood right here in case you nonetheless want extra info.
On the entire, we give Robinhood the sting in the case of charges and as a device to handle a number of securities. Coinbase will get the sting for people who find themselves already skilled buying and selling crypto or who simply desire a extra complete platform for digital property.
All the time do not forget that investing includes danger and that cryptocurrency buying and selling on each Coinbase and Robinhood also can include some danger!
We predict Robinhood is an effective all-around app for newcomers, notably those that wish to get began with crypto however don’t wish to use multiple device to handle all their investments. The one space the place we predict Robinhood might do extra for newcomers is in schooling, however there are different locations the place you may get free assets that can assist you study cryptocurrency if you wish to use Robinhood.
As a result of each platforms may very well be extra clear with charges, it’s troublesome to say for certain. Nonetheless, Coinbase’s 0.5% price plus flat price construction implies that typically, they’re dearer than Robinhood.
Each Coinbase and Robinhood have taken pains to guard customers and protect them from losses associated to hacking or theft. They each provide password safety, 2FA, and insurance coverage. Neither is insured by the FDIC. By way of safety, we predict they’re equal.
Sure, Bitcoin is certainly one of 19 cryptocurrencies out there to commerce on Robinhood as of November, 2024.
