AEX vs Coinbase | Why Coinbase Is Much Safer AND Better
Jack Moreau
Apr 2024
7 min read
Fact checked
AEX vs Coinbase: In this comprehensive comparison, we will delve into the key factors that differentiate these two popular exchanges. From KYC requirements and country availability to product offerings, trading fees, and deposit methods, we have analysed all aspects to help you make an informed decision!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
AEX and Coinbase are both well-known cryptocurrency exchanges but they differ in several aspects.
AEX, founded in 2013 and operated by Bit World Investments Limited, has been in the market for over 9 years. It has a global presence, available in over 100 countries including the US, Japan, Hong Kong, and the UK.
AEX exchange
AEX Exchange is licensed in the United States, Canada, Singapore, and the UK. However, despite its accessibility and lack of KYC requirements, AEX remains a relatively small exchange with a smaller range of cryptocurrencies and low overall trading volume.
When it comes to the range of cryptocurrencies offered, AEX supports a more limited range of less than 100 digital assets, including well-known ones such as Bitcoin, Ethereum, Fantom, Arweave, and Global AEX Token.
It has reached a decent user base of over 1 million users worldwide. The AEX application is available on both Android and IOS platforms with over 50,000 downloads and a rating of 4.2 stars.
AEX app
On the other hand, in 2012, Brian Armstrong founded Coinbase which has become a leading global exchange that focuses on providing a user-friendly interface, security, and regulatory compliance.
It has established headquarters in the District of Columbia and is available in 100 countries, primarily in the US and Europe.
Coinbase exchange
Coinbase is one of the largest exchanges globally with over 100 million users. The Coinbase mobile application has been downloaded over 10 million times and has a rating of 4.1 stars based on over 750,000 reviews.
Coinbase app
Coinbase offers a wider selection supporting over 200 cryptocurrencies, including Bitcoin, Ethereum, Solana, Cosmos and other major altcoins.
In terms of workforce, AEX has over 200 employees mainly based in Hong Kong and Singapore, while Coinbase boasts over 5000 employees. Overall, both AEX and Coinbase have their strengths and target different user bases.
AEX focuses on global accessibility without KYC requirements but operates as a smaller exchange. Coinbase, on the other hand, prioritizes user-friendliness, security, and compliance, making it one of the largest exchanges worldwide.
AEX vs Coinbase KYC Requirements
Let's take a closer look at the signup process and KYC requirements of AEX and Coinbase.
Starting with AEX, the signup process is straightforward and user-friendly. Users have the option to sign up using their phone number or email.
They simply need to enter their nationality and create a password. Unlike some other exchanges, KYC verification is not mandatory on AEX, which means users can sign up, deposit cryptocurrencies, and start trading spot without going through the KYC process.
AEX KYC requirements
However, if users wish to access additional features or increase their withdrawal limits, KYC becomes necessary. This requires users to go through the verification process by providing personal information and uploading valid ID documentation.
By completing the KYC verification, users can unlock higher withdrawal limits and enjoy a wider range of services on AEX.
On the other hand, Coinbase offers a slightly different signup process. Creating an account on Coinbase takes about a minute and requires users to provide a full name, email and password.
Coinbase KYC requirements
KYC is mandatory on Coinbase, meaning users cannot trade before completing the KYC verification process. The Coinbase verification process involves submitting required documents such as a government ID, full name, country of residence, street address and more.
Once the documents are submitted, the verification can typically be completed within a few minutes to a few hours depending on how busy Coinbase's verification team is.
AEX vs Coinbase Crypto Products
AEX Exchange offers basic spot trading where users can buy and sell 100 well-known cryptocurrencies. The trading volume on AEX is not great, with 24-hour spot volumes normally ranging between $1-$10 million.
AEX spot trading
Users on AEX also have the option to earn interest on their digital assets through lending and borrowing, dual investments, and staking opportunities.
AEX earn yield
The user experience on AEX is not great, as there are often 404 errors and certain parts of the website do not work due to bugs or lack of updates. The exchange has a simple interface and a limited range of products and services.
AEX supported cryptocurrencies
On the other hand, Coinbase is a top US-regulated cryptocurrency exchange that offers a wide range of features and services.
It provides spot trading, allowing users to buy and sell over 200 popular cryptocurrencies like Bitcoin and Ethereum. Coinbase also offers lending and borrowing for those who want to earn interest or get loans using their digital assets.
Coinbase spot trading
Staking services are also available for users who hold Ethereum (ETH), Solana (SOL), Cardano (ADA), Tezos (XTZ), Polkadot (DOT), or Cosmos (ATOM).
Coinbase Staking
And for those that simply want to earn interest on their dollars, you can simply deposit USD to Coinbase, convert them to USDC for free and then earn up to 5% in yield.
Coinbase Earn
Coinbase has its own non-custodial Web 3 wallet and a Coinbase Card that allows users to spend cryptocurrencies and earn cashback.
Coinbase Visa Card
The exchange recently introduced its own NFT marketplace to meet the increasing demand for digital art and collectibles.
Coinbase NFTs
Coinbase also offers a "Learn and Earn" program that encourages users to learn about cryptocurrencies and rewards them with digital assets.
Coinbase Learn
For institutional clients, Coinbase provides Coinbase Custody and an OTC trading desk where they can conduct large trades or safely store their assets with high security custody solutions.
Coinbase Institutions
The user experience on Coinbase is beginner-friendly with an easy-to-navigate website. However, there are frequent connection issues that require users to wait to log in.
Coinbase interface
Liquidity on Coinbase is in the top 5 category with daily spot trading volumes frequently exceeding $1 billion. Coinbase Pro customers in 23 U.S. states can also access up to 3X leverage on USD-quoted books.
Coinbase pro
So while AEX Exchange offers basic spot trading with a limited range of cryptocurrencies, Coinbase provides a more wide range of features and services and more than 100 cryptocurrencies than AEX.
When it comes to trading fees, AEX Exchange and Coinbase have their own unique offerings. Let's take a closer look at what each platform has to offer.
Starting with AEX Exchange, they charge a spot maker fee of 0.06% and a taker fee of 0.16%.
These fees are relatively competitive and can certainly attract traders looking for cost-effective options. However, AEX Exchange goes a step further in providing fee reductions based on trading volumes or the number of GAT tokens held by users.
AEX trading fees
For instance, if you hold a minimum of 5,000 GAT tokens or trade over 100 BTC in volume within a 30-day period, you become eligible for fee discounts. This not only incentivizes users to actively participate but also rewards those who engage in higher volumes.
On the other hand, Coinbase operates with a maker fee of 0.40% and a taker fee of 0.60%. While these fees are higher compared to AEX Exchange, Coinbase also offers the benefit of lower trading fees if your monthly trade volumes exceed $10,000.
Coinbase trading fees
This means that if you're actively trading and generating significant volumes, you have the opportunity to reduce your overall trading costs on the platform.
Starting with AEX, it is important to note that AEX does not support fiat deposits. Users can only deposit cryptocurrencies or buy crypto using a card.
However, it is generally recommended to avoid buying or selling cryptocurrencies through third-party providers as they usually charge higher fees.
On the other hand, Coinbase does support fiat deposits making it more convenient for users who want to deposit funds directly from their bank accounts.
Coinbase allows deposits in three fiat currencies: USD, EUR, and GBP. The deposit methods available on Coinbase include ACH, Wire (USD), SEPA (EUR), and Swift (GBP).
Coinbase fiat deposits
ACH deposits are free of charge, while wire deposits have a fee of $10 USD. SEPA deposits cost 0.15 EUR, and Swift deposits are free.
Coinbase thus offers more options for fiat deposits than AEX does by supporting multiple fiat currencies. This gives users more flexibility in depositing funds from different regions.
When it comes to withdrawing funds, both AEX and Coinbase offer a range of options for their users.
AEX exchange only allows its users to withdraw popular cryptocurrencies such as Bitcoin, Ethereum, Solana, and ERC-20 USDT. The withdrawal fees for these cryptocurrencies vary, with Bitcoin costing 0.0009 BTC, Ethereum costing 0.008 ETH, Solana requiring a fee of 0.01 SOL.
On the other hand, Coinbase offers different withdrawal methods for its users. Fiat withdrawals can be made via ACH, Wire, SEPA, and Swift with different withdrawal fees.
Coinbase fiat withdrawals
ACH withdrawals are free of charge while wire withdrawals have a fee of $25 USD. SEPA withdrawals come with a small fee of 0.15 EUR and Swift withdrawals have a fee of 1 GBP.
On Coinbase, If you want to withdraw Bitcoin, you'll need to pay a fee of 0.0002 BTC. Ethereum withdrawals come with a fee of 0.000768 ETH, and Solana withdrawals have a fee of 0.008 SOL. If you're interested in withdrawing ERC-20 USDT, the fee is 3.55 USDT.
In conclusion, both AEX and Coinbase have their advantages and target different user bases in the cryptocurrency exchange market.
AEX, with its global accessibility and lack of KYC requirements, offers a simply signup process and lower trading fees for a limited range of 100 cryptocurrencies.
On the other hand, Coinbase prioritizes user-friendliness, security, and regulatory compliance. It offers a wider range of features and services than AEX including a broader selection of cryptocurrencies and deeper liquidity.
Coinbase also supports fiat deposits and withdrawals, providing convenience for users who want to deposit or withdraw funds directly from their bank accounts. This is entirely lacking on AEX that only supports crypto deposits or withdrawals.
When comparing the two exchanges, AEX is suitable for users who prioritise global accessibility without KYC requirements and are solely focused on cryptocurrency trading.
Coinbase caters to beginners, traders and institutional clients by providing access to a wide range of features and services, including spot trading, lending, borrowing, staking, an NFT marketplace.
For all the reasons mentioned above, Coinbase is the superior exchange even though AEX takes the win in some categories like lack of KYC and lower trading fees.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
