Bitpanda vs Coinbase | Learn Why Coinbase Is Better For Europeans
Jack Moreau
Apr 2024
10 min read
Fact checked
Bitpanda vs Coinbase: Our team has conducted extensive research on these two exchanges to help you make an informed decision. We evaluated everything from signup and KYC processes to trading fees, available products, and user experience. Find out which exchange comes out on top in our Bitpanda vs Coinbase comparison!
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.
Bitpanda and Coinbase are two well-known cryptocurrency exchanges that offer a range of services to their users.
Bitpanda was founded in Vienna in 2014 by Eric Demuth and Paul Klanschek while Coinbase was founded in San Francisco in 2012 by Brian Armstrong and Fred Ehrsa.
Bitpanda exchange
Bitpanda is a cryptocurrency broker that specializes in buying and selling cryptocurrencies, stocks, ETFs, commodities like gold and silver, and fractional share trading.
It has a wide selection of stocks and ETFs and provides access to its trading platform through its exchange available via browser and mobile app.
Bitpanda primarily services European countries, and has over 4 million registered users. It supports over 100 cryptocurrencies, including Bitcoin, Ethereum, SOL, and fan tokens such as Barcelona FC and Manchester City.
The platform supports various cryptocurrencies including Bitcoin and Ethereum along with 100s of altcoins.
Coinbase offers a more traditional range of crypto services such as spot trading, recurring buys, staking, and Coinbase learn & earn, an educational program that rewards users for learning about cryptocurrencies.
The exchange caters to both retail and institutional investors with its advanced trading platform, Coinbase Pro, offering additional features and lower fees.
It offers a decent range of over 200 cryptocurrencies. Both Bitpanda and Coinbase prioritize security and regulatory compliance, adhering to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols.
Coinbase also has mobile apps available on Android and IOS with millions of downloads and solid ratings.
Coinbase app
Bitpanda vs Coinbase Signup & KYC
When it comes to sgnups and KYC, both Bitpand and Coinbase require Know Your Customer (KYC) verification for their users.
Signing up for Bitpanda is a smooth process that can be completed in minutes. After entering your basic information such as your name, email and country of residence, you will be asked to answer six questions regarding the source of your funds and your deposit intentions.
Bitpanda signup
Once you have approved the confirmation email, you can access your account but will need to complete the KYC process by uploading your passport and a selfie.
This verification process can take up to 2 business days for some users but can be completed in as little as 20 minutes in the best case.
KYC is also obligatory on Coinbase and users are required to verify their email, phone, and personal information before being able to access their account.
After completing the initial signup process, users must then submit required documents for KYC verification which can take a few minutes to a few hours to verify.
The entire process can be completed within minutes, although the verification process may take longer.
Bitpanda vs Coinbase Products & Services
When it comes to trading, Bitpanda and Coinbase are two exchanges with different products and services. Bitpanda offers its European users exposure to over 100 cryptocurrencies, 100s of stocks, ETFs, crypto indices, precious metals and commodities.
Bitpanda products
Bitpanda has done a great job with its user experience, having a simple but modern and beginner-friendly interface that is easy to navigate.
Bitpanda Pro exchange has a daily spot trading volume of $10 million. Bitpanda also provides its users with staking rewards for over 20 cryptos, such as ADA, SOL, DOT, and ATOM. For institutional clients, Bitpanda also offers institutional custody service.
Coinbase stands out as one of the world's largest cryptocurrency exchanges with a primary focus on providing crypto products to beginners and for institutional clients.
Coinbase USPs
Its commitment to adhering to strict U.S. regulations means that while it hasn't ventured into riskier products like 100X leverage found in offshore exchanges, it has created a safer more navigable space for new traders.
Coinbase Dashboard
The platform is cleverly split into two user interfaces: the regular Coinbase version and the Advanced version.
The regular version is a hit among beginners for its simplicity and ease of use, while the Advanced version caters to the more seasoned traders with its in-depth tools and features.
Coinbase Buy & Sell
One of Coinbase's most user-friendly features is its support for over 240 cryptocurrencies, offering ample choice for buying and selling through either a straightforward buy-and-sell feature or via spot trading in the Advanced section.
Coinbase Spot Trading
For those looking to invest steadily over time, the recurring buy feature is a particularly useful tool, allowing users to automate their investment strategy.
Recently, Coinbase has made strides in offering more advanced trading options. It introduced BTC and ETH futures, along with perpetual contracts for BTC, ETH, LTC, SOL, XRP, and AVAX, with a relatively conservative leverage cap of 5X.
Coinbase Crypto Futures
Despite these advancements, Coinbase's trading volume is more robust in the spot market compared to the futures market, often ranking in the top three globally for 24/7 spot trading volumes.
Coinbase Trading Volumes
Coinbase also caters to users looking to earn interest, notably offering a 5% interest rate on US Dollar Coin (USDC), an attractive rate in the current market.
Coinbase Earn
Additionally, it caters to beginners through its innovative learn-and-earn program, where users can gain tokens while learning about various blockchain projects.
Coinbase Learn & Earn
The platform has expanded into the NFT space with its own NFT platform. This allows users to mint, explore, buy, and sell NFTs across blockchains such as Ethereum, Base, and Polygon.
Coinbase NFTs
For everyday use, Coinbase has launched a Visa Card that enables users to spend their crypto or USD, rewarding them for their regular spending.
Coinbase Visa Card
Recognizing the growing interest in decentralized finance, Coinbase introduced the Web 3 Coinbase Wallet.
Coinbase Wallet
This non-custodial wallet supports a vast array of coins and tokens and provides easy access to DeFi across several blockchains, including Bitcoin, Ethereum, and Solana.
Moreover, Coinbase recently launched the Coinbase One Membership for $29.99 per month, offering perks such as zero-fee trades, enhanced staking rewards, and priority support.
Coinbase One Membership
Being a public company in the United States, Coinbase is subjected to strict regulatory standards, making it one of the safest platforms for cryptocurrency trading.
This assurance of safety and reliability is why major institutions like BlackRock and Grayscale have chosen Coinbase for their crypto asset trades and custody.
Coinbase Institutions
For high-net-worth individuals and institutions, Coinbase Prime offers a secure gateway to advanced trading, financing solutions, cold storage, staking services, and much more.
Coinbase Prime
Coinbase is a great option for those who want to trade with a regulated exchange and have access to a wide range of features, while Bitpanda is a solid option for European users who want access to a variety of digital assets and stocks.
Bitpanda and Coinbase are two popular cryptocurrency exchanges that offer different trading fees to their users. Let's take a closer look at what fees each exchange offers.
Starting with Bitpanda, the exchange only offers spot trading with a maximum maker fee of 0.15% which can be lowered if users exceed a monthly trade volume of 100,000 EUR during a 30 day period.
The maximum taker fee is 0.25%. This fees are actually not bad and competitive with exchanges such as Gate.io but slightly higher than Binance and OKX.
Bitpanda spot fees
Coinbase offers slightly higher fees for both spot and futures trading with a spot maker fee of 0.40% and a spot taker fee of 0.60%. Trading fees on Coinbase can also be lowered if monthly trade volumes exceed $10,000.
Coinbase spot fees
Bitpanda thus offers quite a bit lower spot fees than Coinbase which is rare for a beginner friendly platform. This makes it a solid choice for beginners who don't want to break the bank in terms of trading fees.
When it comes to deposit methods, Bitpanda and Coinbase have their similarities and differences. Bitpanda supports bank deposits for European fiat currencies such as EUR, GBP and CHF with the option of using credit/debit card for deposits.
Bitpanda fiat deposits
On the other hand, Coinbase supports USD, EUR, and GBP which can be deposited via ACH, Wire (USD), SEPA (EUR), and Swift (GBP).
To deposit on Bitpanda, users can opt to use bank transfers (SEPA) with a minimum deposit of EUR 25 or credit card (Visa and Mastercard), Neteller, and Skrill.
However, a 1.8% fee is charged for deposits made via Visa and Mastercard, while 3.6% and EUR 0.9 + 3.6% are charged for Neteller and Skrill, respectively. SEPA deposits on the other hand are free of charge.
Meanwhile, Coinbase offers deposit methods such as ACH (Free of charge), Wire Deposit ($10 USD), SEPA Deposit (0.15 EUR), and Swift deposit (Free).
Coinbase has also made it possible for users to deposit their funds via debit cards, which incurs a fee of 3.49%, and PayPal, which incurs a 2.5% deposit fee.
Coinbase fiat deposit fees
Both exchanges thus offer numerous options for fiat deposit option with a variety of fiat currencies with low cost options such as SEPA where deposits are nearly free. Great job to both exchanges in this regards.
When it comes to fiat withdrawals, both Bitpanda and Coinbase offer a range of withdrawal methods for their users.
Users of Bitpanda can withdraw cryptocurrencies and digital assets from their Bitpanda wallet, as well as withdraw fiat money from their Bitpanda Pro wallet via bank transfer (SEPA) for EUR, GBP, and CHF.
The minimum withdrawal amount for fiat currency is EUR 25 and the withdrawal fees via bank transfer are free.
When it comes to cryptocurrency withdrawals, withdrawing Bitcoin comes with a 0.00006 BTC fee, withdrawing ETH comes with a 0.0011 ETH fee, withdrawing SOL comes with a 0.0001 SOL fee, and withdrawing ERC-20 USDT comes with a 4.44 USDT fee.
SEPA withdrawal only costs 0.15 EUR and Swift withdrawal costs 1 GBP. Users can also withdraw cryptocurrencies like Bitcoin and Ethereum from their Coinbase wallets with varying fees.
The withdrawal fee for Bitcoin is 0.0001 BTC while Ether withdrawals are free. Moreover, withdrawing SOL comes with a fee of 0.005 SOL and users will be charged a $3 fee when withdrawing USDT.
Both Bitpanda and Coinbase offer a suite of withdrawal options for their users both for fiat currencies and cryptocurrencies with very competitive fees.
In conclusion, Bitpanda specializes in buying and selling cryptocurrencies, stocks, ETFs, commodities like gold and silver, and fractional share trading. It services European countries and supports over 100 cryptocurrencies.
Coinbase on the other hand is a leading US-based exchange and wallet service with over 100 million users mainly based in the US and Europe. It offers a larger range of cryptocurrencies than Bitpanda with over 200 available coins and tokens.
Both exchanges prioritize security and regulatory compliance, adhering to strict Anti-Money Laundering and Know Your Customer protocols.
Bitpanda has a slightly longer verification process compared to Coinbase but both exchanges offer a user-friendly experience for signing up.
When it comes to trading, Bitpanda offers its European users exposure to over 100 cryptocurrencies, 100s of stocks, ETFs, crypto indices, precious metals, and commodities.
It has a simple but modern and beginner-friendly interface that is easy to navigate. Bitpanda Pro exchange has a daily spot trading volume of $10 million.
Meanwhile, Coinbase offers a wider range of trading crypto products but with higher fees. Liquidity on Coinbase is in the top 5 category with daily spot trading volumes frequently exceeding $1 billion which is way more than Bitpanda.
Bitpanda and Coinbase offer different fee structures to suit the needs of different users. Bitpanda's lower 0.15% maker fee (compared to 0.45% for Coinbase) and the ability to further lower fees through trading volume make it a great option for spot traders.
Both exchanges offer numerous options for fiat deposits and withdrawals with a range of fiat currencies at low fees. This is one area where both exchanges excel at.
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.
