Abra vs Coinbase | Why Coinbase Exchange Is Much Better

When it comes to trading fees, Abra and Coinbase offer different options for their users. Let's take a closer look at each exchange's fees and see how they compare.

Starting with Abra, it is important to note that they do not offer any spot, futures, or margin trading. Instead they charge a spread fee when users exchange assets on their app. This spread can be up to 2-4% which is a very high transaction fee.

When it comes to spot trading fees on Coinbase, there is a maker fee of 0.40% and a taker fee of 0.60%. These fees apply when users buy or sell cryptocurrencies on the Coinbase platform.

Furthermore, it is interesting to note that Coinbase offers the possibility for users to lower their trading fees. If monthly trade volumes exceed $10,000, users can benefit from reduced fees.

Abra supports the deposit of only two fiat currencies, USD and PHP. For USD deposits, Abra offers two deposit methods: ACH bank transfers and Visa/Mastercard deposits via MoonPay.

ACH bank transfers are completely free, allowing users to deposit funds without incurring any additional charges. However for Visa/Mastercard deposits via MoonPay, there are fees.

For purchases below $141, there is a charge of $4.99 plus 3.5% of the total amount. For purchases above $141, the fee increases to 7%. These are very high deposit fees and much higher than the industry average.

Coinbase offers support for the deposit of three major fiat currencies: USD, EUR, and GBP. Coinbase offers a range of deposit methods for each currency.

For USD deposits, users can choose to deposit funds via ACH (Automated Clearing House) transfers or wire transfers. ACH deposits are free of charge, making it a cost-effective option for users. However, wire deposits come with a fee of $10 USD.

For EUR deposits, Coinbase offers SEPA transfers as the primary deposit method. SEPA deposits incur a fee of 0.15 EUR, making it a relatively low-cost option for European users. Additionally, Coinbase also supports Swift transfers for GBP deposits, which do not have any associated fees.

As such Coinbase offeres more traditional banking methods than Abra by offering ACH transfers, wire transfers, and SEPA transfers. These methods are typically more cost-effective, with minimal or no fees associated.

Abra and Coinbase offer various withdrawal methods for users to access their funds. Let's explore the withdrawal methods offered by each exchange and the associated fees.

Starting with Abra, this exchange allows users to withdraw fiat currency via US or PH banks. The best part is that fiat bank withdrawals on Abra are completely free of charge. This means that users can easily cash out their funds without any costs.

Moving on to Coinbase, this exchange offers a wider range of withdrawal methods for users. Fiat withdrawals on Coinbase can be made via ACH, Wire, SEPA, and Swift. ACH withdrawals are completely free, while wire withdrawals have a fixed fee of $25 USD.

SEPA withdrawals incur a minor fee of 0.15 EUR, and Swift withdrawals have a fee of 1 GBP. Coinbase caters to the diverse needs of its users by providing multiple options for fiat withdrawals.

Now let's shift our focus to the fees associated with cryptocurrency withdrawals on Coinbase. If users wish to withdraw Bitcoin, they are charged a fee of 0.0002 BTC. For Ethereum withdrawals, the fee is 0.000768 ETH. Coinbase also supports Solana (SOL) and ERC-20 Tether (USDT) withdrawals, with fees of 0.008 SOL and 3.55 USDT, respectively.

So while Coinbase provides multiple withdrawal methods for fiat currencies and cryptocurrencies with low fees, Abra is much more limited in this regard.

In conclusion, both Abra and Coinbase are reputable and established cryptocurrency exchanges with their own unique strengths and features.

In terms of founding and user base, Abra is available in 130 countries while Coinbase is available in the amount of countries but with a much larger user base of over 100 million.

When it comes to available cryptocurrencies, Abra offers the ability to buy and sell over 100 different cryptocurrencies, while Coinbase supports over 200 cryptocurrencies.

In terms of user experience, Abra is only available for mobile while Coinbase can be used via the website or Android and IOS, depending on what users prefer.

In terms of trading fees, Abra charges high spread fees which are more costly than the 0.4% spot fee that Coinbase charges makers.

When it comes to deposit methods, Abra supports USD and PHP deposits with options for ACH bank transfers and Visa/Mastercard deposits via MoonPay. Coinbase supports USD, EUR, and GBP deposits with options for ACH transfers, wire transfers, SEPA transfers, and Swift transfers.

As we review category after category, we notice that Coinbase is simply the more well rounded and superior exchange compared to Abra. While Abra is a smaller more niche exchange in the Philippines, Coinbase has become a juggernaut with a more versatile offering than Abra.