Bitrue vs Coinbase | Why Coinbase Wins Across Most Categories
Jack Moreau
Apr 2024
10 min read
Fact checked
Trouble deciding between Bitrue and Coinbase? Our comparison deep dives into these two exchanges by examining signup procedures, KYC requirements, trading fees, product offerings and overall user experience. Keep reading to quickly discover which exchanges is the best one to use!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
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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.
When it comes to cryptocurrency exchanges, Coinbase is one of the most popular and well known exchanges in the world while Bitrue is more of an unknown underdog. Let's begin by reviewing some basics regarding these two exchanges.
Bitrue was founded in 2018 by Curis Wang and based in Singapore. The exchange has grown to over 4 million registered users and supports over a very wide range of over 700 cryptocurrencies.
Bitrue exchange
Coinbase was founded much earlier (in 2012) by Brian Armstrong and Fred Ehrsa and registered and based in the United States. Coinbase has a much larger userbase than Bitrue with over 100 million users. Coinbase supports over 200 cryptocurrencies which while not as extensive and Bitrue, is still a solid range of coins and tokens.
Coinbase exchange
Both exchanges offer basic services such as spot trading, staking, and borrowing, allowing users to make the most of their digital assets. However, there are some key differences between the two platforms.
Coinbase is known for its user-friendly interface, security, and regulatory compliance, while Bitrue is recognized for it's wide coin offering and futures and ETFs offering. In terms of availability, Bitrue is operational in over 80 countries, while Coinbase is available in 100 countries.
However, there are certain restrictions in place for both exchanges. For example, Bitrue is restricted in locations such as Texas, New York, China, and OFAC countries, while Coinbase is mainly available in North American and Europe plus some additional markets.
When it comes to app downloads, both exchanges have millions of downloads on their Android and IOS apps. Bitrue has over half a million downloads with an excellent 4.8-star rating based on 5,000 reviews, while Coinbase has 10 million downloads with a 4.1-star rating based on over 750,000 reviews.
Coinbase app
Bitrue vs Coinbase Signup & KYC
When it comes to signing up and KYC obligations, each platform has its own unique requirements and verifications processes. Let's take a closer look at Bitrue and Coinbase.
Starting with Bitrue, the good news is that KYC is not required to deposit and trade cryptocurrencies on their platform. Signing up is quick and easy, taking only 30 seconds. Once registered, users can start trading right away with their deposited cryptocurrencies. However, for those looking to buy cryptocurrencies with a credit card, KYC is required.
Bitrue signup
On the other hand, Coinbase requires KYC for all users. The signup process takes about a minute to complete as users need to fill in full name, email and password. Once the Coinbase account has been opened, users can continue to complete the KYC process.
Coinbase signup
This requires submitting the required documents such as some form of identify card (passport, drivers license etc) and some personal information. Once complete, it can take Coinbase a few minutes to a few hours to verify the information and approve the request.
Bitrue vs Coinbase Products & Services
Bitrue is a modern and user-friendly cryptocurrency platform that offers a wide range of products and services for both new and experienced traders. With an average daily spot trading volume of $1 billion, Bitrue allows users to trade spot and futures products with up to 50X leverage on USDT perpetual futures.
Products offered by Bitrue
Bitrue also offers products such as leveraged ETFs, copy trading, lending and borrowing services, and staking rewards for locking up coins.
Earn & Stake on Bitrue
On the other hand, Coinbase is a US regulated exchange that provides its users with a more kosher range of features and services. Coinbase offers spot trading, lending and borrowing options and its own Web 3 wallet. With liquidity in the top 5 category and daily spot trading volumes frequently exceeding $1 billion.
Coinbase interface
They even have a Coinbase Card, which allows users to spend their digital assets effortlessly in everyday purchases. Recently, Coinbase stepped into the world of non-fungible tokens (NFTs) to meet the increasing demand for digital art and collectibles. Both these more retail focused products are for example not available on Bitrue.
NFTs on Coinbase
While Bitrue offers a more comprehensive range of trading products, Coinbase provides a great user experience for beginner traders. The exchange has a clean and user-friendly interface that makes buying and selling cryptocurrencies simple.
Coinbase Visa card
Overall, both Bitrue and Coinbase provide their users with a variety of products and services that cater to different types of traders. While Bitrue offers a wider range of trading products tailored more to experienced traders, Coinbase provides a more beginner-friendly user experience for retail users.
When it comes to trading fees, Bitrue and Coinbase have different approaches. Bitrue charges a spot maker and taker fee of 0.098% across the board, with no rebates for higher trading volumes. However, they do offer a 30% discount for those who use their native BTR token as a trading pair.
Bitrue sets different spot maker and taker fees based on which trading pairs are used. For trades involving BTC, ETH, or USDT pairs, the spot fees for both makers and takers are a competitive 0.098%. Meanwhile, those using XRP as a trading pair will face a 0.28% fee.
Although Bitrue doesn't provide rebates for increased trading volumes, a 30% discount is available for users who employ the platform's native BTR token as a trading pair.
On the other hand, Coinbase charges a higher spot maker fee of 0.40% and a spot taker fee of 0.60%. However, they do offer the potential to lower trading fees if monthly trade volumes exceed $10,000. Note that Coinbase does not offer futures trading, whereas Bitrue offers a consistent futures maker and taker fee of 0.098%.
When it comes to depositing funds on Bitrue or Coinbase, both exchanges offer different options depending on your needs. Bitrue, unfortunately, doesn't support any fiat currency deposits. The only option is to deposit cryptocurrencies or purchase crypto directly with a debit or credit card, but be prepared to pay a hefty 3.5% fee or $10 (whichever is higher).
Buy crypto on Bitrue via third-party providers
Contrary to Bitrue, Coinbase does support deposit of fiat currencies such as USD, EUR, and GBP. Users have the option to deposit funds via ACH, SEPA, Swift or wire transfers. ACH deposits are free while wire deposits have a standard $10 fee. SEPA deposits incur a small fee of 0.15 EUR while Swift deposits are totally free. Regardless of your preferred deposit method, Coinbase has made depositing funds user-friendly and cheap.
When it comes to withdrawing your money from exchanges, which assets can be withdrawn and by which method and fees vary a lot between exchanges. Let's see what withdrawal methods offered are by Bitrue and Coinbase.
Let’s start with Bitrue. Unfortunately, fiat withdrawals are not available on Bitrue which means that users can only withdraw cryptocurrencies. For those that wish to withdraw Bitcoin on Bitrue, that has a 0.005 BTC fee while withdrawing Ethereum comes with a 0.01 ETH and $2.6 USDT for Tether USD withdrawals. These fees are on the higher end with many exchanges offering lower.
On the other hand, Coinbase offers a wide variety of withdrawal options for fiat currencies such as USD, EUR and GBP. You can withdraw fiat currencies via ACH, Wire, SEPA, and Swift. ACH withdrawals are free while Wire withdrawals come with a $25 USD fee. SEPA withdrawals incur a tiny 0.15 EUR fee while Swift withdrawals will cost a small 1 GBP.
Coinbase fiat withdrawal fees
When it comes to cryptocurrency withdrawals, Coinbase charges a 0.0001 BTC fee for Bitcoin, withdrawing USDT will incur a $3 fee and finally SOL withdrawals are 0.005 SOL each.
Bitrue is the much smaller exchange with 4 million users compared to the over 100 million registered users on Coinbase. Bitrue is an offshore exchange based in Singapore which gives it certain liberties to offer products such as futures and ETFs with high leverage. These types of products can't be found on Coinbase because it is faces much more scrutiny as a US based entity.
Instead Coinbase is recognized for its user-friendly interface, security, and regulatory compliance. While Coinbase offers 200 cryptocurrencies and obligatory KYC for all users, Bitrue offers over 700 cryptocurrencies and mandatory KYC for those that want to access additional features.
Bitrue has average daily spot trading volumes in the plus $1 billion category which is similar to Coinbase. The trading fees on Bitrue range between 0.98% to 0.28% depending on which trading pair users are buying and selling with. Either way, this is lower than the spot maker fee of 0.40% and a spot taker fee of 0.60% charged by Coinbase.
In terms of moving funds in and out, Bitrue doesn't support any fiat currency deposits, while Coinbase supports three fiat currencies - USD, EUR, and GBP. Fiat withdrawals are not available on Bitrue, meanwhile Coinbase offers a wide variety of withdrawal options for both fiat and cryptocurrency withdrawals with overall low 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.
