Robinhood | Coinbase |
Great for Investors who trade frequently or new investors who intend to find a footing in the world of crypto. | Great for Beginners who are looking to gain experience and care about an easy-to-use exchange platform. |
Cryptocurrencies Offered 7 | Cryptocurrencies Offered Over 150 |
Fees Withdrawal Fees: Free Trading Fees: Free | Fees Withdrawal Fees: 1% Trading Fees: 0.05% - 0.60% |
Bonus Offer Get $5 - $200 in free stock for signing up | Bonus Offer Get $10 in BTC when you make your first $100 trade |
Unique Features
| Unique Features
|
Minimum Trade Amount $0 | Minimum Trade Amount $2 |
Customer Support | Customer Support 24/7 Live phone support, email, live chat |
Pros
| Pros
|
Cons
| Cons
|
Coinbase vs. Robinhood Overview
Coinbase is a U.S.-based cryptocurrency exchange platform established in 2016 with over 130 cryptocurrencies offered. Coinbase is the company behind Coinbase wallet, Coinbase Pro, and Coinbase Prime. The platform allows users to buy, sell and hold cryptocurrency of their choice. It also has a staking option, which is limited to a few digital currencies.
Coinbase provides its users with an opportunity to earn while learning through Coinbase Earn, a program that rewards users with cryptocurrency based on learning modules completed.
Robinhood is an all-in-one platform for users who prefer trading with their mobile devices. It offers free trades on cryptocurrency and stocks as well as fractional shares. The platform has a straightforward user interface that makes it easy for users to trade.
Cryptocurrencies Available
Coinbase lists more than 130 cryptocurrencies and constantly updates the list. It is the largest U.S based exchange platform.
Robinhood offers 7 cryptocurrencies, including the largest by market cap. Also, many users can only buy and sell crypto in USD without being able to send or receive it from another wallet. However, unlike most brokerages, Robinhood users can purchase cryptocurrencies in their stock trading accounts.
Fees
Coinbase fees – 0 to 0.50 percent per transaction and 2.49 percent for card transactions.
Spread fee – 0.5%
| Pricing tier | Taker fee | Maker fee |
| Up to $10K | 0.60% | 0.40% |
| $10k-$50k | 0.40% | 0.25% |
| $50k-$100k | 0.25% | 0.15% |
| $100k-$1M | 0.20% | 0.10% |
Robinhood fees – Robinhood charges zero trading fees. However, there are some other fees on the platform explained below
- Trading on margin – Robinhood gold subscription at $5 monthly
- Account transfer – $75
- Domestic and international wire – Free
- Account opening and maintenance costs – Free
- Check fees – $20 for overnight domestic check
- Option trading – Free
- Equity trading – Free
Staking and Credit Card Options
Coinbase is a good staking platform for beginners in the world of crypto. Although Coinbase only allows a few digital currencies to be staked by users, the platform is relatively safe and well-regulated. Also, staking on Coinbase does not require purchasing coins from the platform to be eligible.
Coinbase offers a 4% crypto rewards Visa debit card to its users. You can choose a crypto reward and earn up to 4% back on all your purchases. The card has no annual fees, and no credit check is required.
At the moment, Robinhood does not offer staking services, although it says it plans to incorporate staking in the platformâs upcoming wallet feature. Users will use the wallet as a point of contact with the DeFi ecosystem, and customers will be able to earn interest on their coins by staking.
Robinhood does not support direct funding using credit cards.
Security
Coinbase is a safe exchange platform. It uses 2 step verification, cold storage, multi-factor authentication, and biometrics to secure usersâ accounts. Coinbase is breached, FDIC-insured USD balances and uses AES-256 encryption for digital wallets on the platform.
Robinhood is a relatively secure platform for its users. It has the following security features:
- Double factor authentication
- App lock using face, fingerprint, and custom pin
- Certified SPIC member
However, Robinhood, unlike most brokers, has no SIPC insurance and has reported data breaches on more than two different occasions within four years.
How to Decide Between Coinbase and Robinhood
Robinhood is a great place for newly starting investors who want to get accustomed to investing. The mobile platform is very friendly and easy to navigate; despite the hitches in transparency, Robinhood is a great destination for beginners who also have an interest in stocks.
Coinbase is a secure platform for cryptocurrency-related services. It has a wider crypto listing than Robinhood but does not offer stocks or ETFs. Coinbase has more crypto-inclined features, some of which are missing in Robinhood, making it a better place for more experienced investors. However, Robinhood has the advantage of cost when compared to Coinbase.