Which crypto platform is right for you?

eToro vs Coinbase: Biggest Differences

Both eToro and Coinbase are well-known platforms that individuals and organizations can use to access cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and others. The two platforms also offer crypto storage options, but they differ when it comes to fees, account options, features, and available investment types.

eToro is the best choice for those looking for social trading features and non-invasive investment strategies. The exchange allows you to copy the portfolios of top performing traders, and it also offers pre-built wallets that rebalance for you. Unlike Coinbase, eToro also provides stock and ETF trading. This makes it a better option if you are looking to build wealth with investments beyond cryptocurrencies.

On the other hand, Coinbase is a better option for traders who are interested in cryptocurrency. Not only does the exchange offer over 100 cryptocurrencies (eToro USA offers just over 25), but it also offers a wide range of products and services for individuals and institutions. In addition, the platform recently launched the beta version of its own NFT Marketplace.

Outlay

1% when buying or selling a crypto asset; 0% Stocks & ETFs

Investment types

Cryptocurrencies, stocks and ETFs

Outlay

1% when buying or selling a crypto asset; 0% Stocks & ETFs

Investment types

Cryptocurrencies, stocks and ETFs

Positives

  • Bitcoin, Dogecoin, Ethereum, Litecoin and dozens of other popular virtual assets can be traded; Trade stocks and ETFs
  • eToro Copy Portfolios allow you to follow and copy portfolios of experienced traders to boost your investment returns
  • Many educational resources
  • Access to web and mobile apps

Negatives

  • Not available to residents of New York, Minnesota, Nevada, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, Northern Mariana, and the US Virgin Islands (see full list of geographic restrictions here)
  • Limited range of cryptocurrencies (eToro USA currently offers over 25 coins)
  • No margin accounts

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  • Promotion: None at this time.
  • Features: Dogecoin, 15+ Cryptocurrencies, CopyTrader System, Copy Wallets, eToro Trading Academy
  • App Store Rating: 4.6 iOS / 4.3 Android

Outlay

0.50% spread for buy/sell transactions; Transaction fees from $0.99 to $2.99; Up to 0.50% for Coinbase Pro

Investment types

Cryptocurrency

Outlay

0.50% spread for buy/sell transactions; Transaction fees from $0.99 to $2.99; Up to 0.50% for Coinbase Pro

Investment types

Cryptocurrency

Positives

  • Buy, sell or store over 100 cryptocurrencies such as Bitcoin and Dogecoin
  • Educational investment resources, mobile access, digital storage, and customer support
  • Low account minimum
  • You can earn rewards for some cryptocurrencies
  • Coinbase Card allows you to spend cryptocurrency or USD anywhere and earn crypto rewards; You can deposit your paycheck into your account and convert it from US dollars to cryptocurrency without fees

Negatives

  • No cryptocurrency forward accounts or margin accounts
  • Pay more for less credits
  • Not for users who want external storage wallets made by personal wallet companies
  • High trading and transaction fees

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  • Promotion: Get $5 in Bitcoin when you join Coinbase
  • Features: Coinbase Earn Rewards, Advanced Coinbase Pro Account, User Controlled Storage, Stable Coins, Storage, Institutional Trading Tools.
  • App Store Rating: 4.7 iOS / 4.3 Android

The account features and options with eToro and Coinbase are also different.

Is eToro Right for You?

eToro is best for both novice traders and community professionals who want to take advantage of the social features, and it also suits non-intrusive investors, thanks to its CopyPortfolios and automated investment tools. The exchange currently offers more than 25 cryptocurrencies, including Bitcoin, Dogecoin, Ethereum, and Cardano.

In addition, the platform recently launched stock trading and ETFs. US users can trade full or partial shares of both types of investments without commissions, but you will need at least $10 to get started. This gives eToro USA an advantage over many cryptocurrency exchanges, as most of them only offer cryptocurrency.

When it comes to social trading features and automated tools, eToro offers two options: CopyTrader System and its CopyPortfolios. With CopyTrader system, you can sift through the portfolios of experts and successful traders and have eToro repeat the same asset allocation in your portfolio.

On the other hand, their CopyPortfolios are pre-created and are regularly rebalanced by eToro. The platform currently offers four: CryptoEqual, CryptoPortfolio, Crypto-currency, and TheTie-LongOnly SmartPortfolio. The minimum limit for these portfolios ranges from $2,000 to $5,000.

eToro also facilitates the transition into cryptocurrency trading for beginners by offering the eToro Academy, a range of guides and videos on everything related to cryptocurrency and investing, and a demo account that allows you to trade up to $100,000 without real risk.

The eToro mobile app is available on iOS and Android devices.

Read the full Personal Finance Insider review of eToro here »

Is Coinbase Right for You?

Coinbase serves individual and institutional traders in over 100 countries, providing access to over 100 cryptocurrencies and account options such as betting, crypto-backed loans, and cryptocurrency payment privileges.

The cryptocurrency exchange is especially suitable for beginners, thanks to its simple web and mobile platforms and investment products like Coinbase Earn. Coinbase Earn pays users to watch educational videos about different cryptocurrencies. For example, after watching a tutorial on one of the listed crypto assets (such as amp), you will have to complete a test. You will receive the cryptocurrency in your account upon completion of the test.

Coinbase also offers digital wallet storage, NFT trading (the exchange recently released a transaction-free trial of its NFT platform), institutional services, and a Coinbase Card that allows you to spend cryptocurrency and earn rewards in return.

Individuals will have a choice between two types of accounts: Coinbase Standard and Coinbase Pro. While you can take advantage of all the non-institutional products offered by Coinbase with the Standard account, a Coinbase Pro subscription additionally includes a trading API that allows you to create trading bots, a Websocket feed that gives you access to real-time market data, charting tools Charts, and FDIC insurance of up to $250,000 on US dollar balances.

Institutional clients can take advantage of the Coinbase Prime trading platform, institutional-level offline storage, fundraising services for crypto startups, trading services, and more (see more about Coinbase’s institutional offerings here).

The Coinbase mobile app is available on iOS and Android (you can also use the Coinbase Pro iOS and Android mobile app).

Read the full Personal Finance Insider review of Coinbase here »

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