Coinlist vs Coinbase | Why Coinbase Is Better Almost Everywhere
Jack Moreau
Feb 2024
10 min read
Fact checked
Are you torn between Coinlist vs Coinbase? Our team has conducted a comprehensive comparison of these two exchanges, taking into account factors such as signup and KYC, available countries, trading fees, products and cryptocurrencies, and user experience!
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.
Coinlist and Coinbase are two prominent cryptocurrency exchanges that cater to a wide range of users across the globe.
While Coinlist is a newer player in the market having been founded in 2017, Coinbase has been operating since 2012 and is one of the largest exchanges in the world.
Coinlist has emerged as a prominent player in the realm of new token issuance. Coinlist has facilitated the launch and sale of new tokens for established projects such as Filecoin, Solana, Celo, Algorand, Dapper, and more.
What Coinlist does best is connecting new projects with an extensive network of potential retail investors.
Coinlist exchange
The Coinlist platform offers support for various aspects of cryptocurrency investment including token sales, distribution, trading, lending, staking, and access to decentralized finance opportunities.
Coinlist is estimated to have over 10 million registered users and offers support for a limited number of only 40 cryptocurrencies including ETH, MATIC, SOL, AXL, DOT, FIL and others.
Buy and sell crypto on Coinlist
In comparison, Coinbase is a leading US-based exchange and wallet service known for its user-friendly interface, security, and regulatory compliance.
The platform supports over 200 cryptocurrencies, including Bitcoin, Ethereum along with multiple fiat currencies.
Coinbase exchange
Coinbase offers a range of 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.
Coinbase is one of the biggest exchanges in the world with over 100 million users mainly based in the US and Europe. The Coinbase app has been downloaded over 10 million times and has a 4.1-star rating with over 750,000 reviews.
Coinbase app
Coinlist vs Coinbase Signup & KYC
Coinlist and Coinbase are two popular cryptocurrency exchanges that both require KYC verification from their users. Signing up for both platforms is relatively easy, but the verification process may take some time.
Creating a Coinbase account takes about a minute but users must verify their account before they can access all of the platform's features.
The verification process involves submitting required documents such as a government ID and country of residence.
The verification process can take a few minutes to a few hours to complete. Once the verification is complete, users can start trading on the platform.
Coinbase signup
Similar to Coinbase, Coinlist also requires users to complete KYC verification before they can access any of its features.
The signup process is basic, requiring only a full name and email address. Once the confirmation email is received users must answer six questions about their funds and deposit amount.
After that, users must upload their passport and a selfie to complete the KYC verification process. The verification process can take up to two business days for some users.
Coinlist signup
Coinlist vs Coinbase Products & Services
When it comes to products and services offered, Coinlist offers a very limited product offering to it's users. It basically includes spot trading, basic buy and sell of crypto, a launchpad for new token sales and staking services.
Coinlist tokens launched
The user experience on Coinlist is not great and can often be a frustrating experience. The website often experience connection issues and trying to buy crypto via the exchange is often tricky due to low liquidity. The average daily spot volume on Coinlist is less than $500.000 which is really terrible.
On the other hand, Coinbase is one of the largest cryptocurrency exchanges in the world which mainly caters to beginners and institutional clients.
Coinbase USPs
It has adopted a strategy that focuses on adhering to strict US regulations, which limits its ability to offer high-risk products unlike some offshore exchanges.
This regulatory approach has created a simpler and safer environment for newcomers to the world of crypto trading.
Coinbase Dashboard
Coinbase offers two distinct user interfaces: "Coinbase" and "Advanced." The regular Coinbase interface is designed to be user-friendly, making it an excellent choice for beginners.
Coinbase Buy & Sell
On the other hand, the "Advanced" interface is tailored to experienced traders who require more advanced tools and features.
With over 240 cryptocurrencies available, Coinbase allows users to buy or sell digital assets through an easy-to-use buy-and-sell feature or engage in spot trading in the Advanced section.
Coinbase Spot Trading
If you're looking to invest regularly over time, Coinbase offers a recurring buy feature, which enables you to Dollar Cost Average your way into positions.
Coinbase has expanded its offerings by introducing BTC and ETH futures, along with perpetual contracts for BTC, ETH, LTC, SOL, XRP, and AVAX, offering up to 5X leverage.
Coinbase Crypto Futures
While it ranks among the top exchanges in terms of 24/7 spot trading volumes, it faces stronger competition in the futures trading arena.
Coinbase Trading Volumes
For those looking to earn interest on their holdings, Coinbase offers an attractive 5% interest rate on USDC (a stablecoin pegged to the US dollar).
Coinbase Earn
One of Coinbase's standout features for beginners is its "learn-and-earn" program, where users can gain knowledge about various blockchains while earning tokens as rewards.
Coinbase Learn & Earn
Coinbase has also ventured into the world of NFTs with its own platform. Users can easily mint, explore, buy, and sell NFTs on blockchains like Ethereum, Binance Smart Chain, and Polygon.
Coinbase NFTs
For individuals who want to use their cryptocurrencies in the real world and earn rewards, Coinbase offers a Visa Card that allows for seamless spending of both cash (USD) and crypto (USDC).
Coinbase Visa Card
To cater to those who prefer non-custodial access to the crypto world, Coinbase has developed its own Web 3 Coinbase Wallet.
This secure wallet lets users store and manage thousands of coins and tokens across Bitcoin, Ethereum, Solana and other blockchains.
Coinbase Wallet
Additionally, Coinbase recently launched the "Coinbase One Membership" program which available for $29.99 per month. This membership offers benefits like zero-fee trades, enhanced staking rewards, and priority customer support.
Coinbase One Membership
One significant advantage of Coinbase is its status as a publicly-traded company in the United States, which necessitates adherence to stringent regulations and accountability standards.
This regulatory commitment makes Coinbase one of the safest exchanges to use, attracting major institutions such as BlackRock and Grayscale.
Coinbase Institutions
For high-net-worth individuals and institutional clients, Coinbase Prime provides access to advanced trading tools, financing solutions, cold storage options, staking services, and more.
Let's delve into the fee structures of Coinlist and Coinbase to see what they have to offer.
If we begin with Coinlist, they charge a 0.25% spot maker fee and a 0.45% spot taker fee if you use their Coinlist Pro exchange. These fees are quite average buy can be lowered if monthly trade volumes exceed $20,000. This is a decent threshold that is achievable for some traders.
Coinlist pro spot fees
If you instead swap cryptocurrencies on Coinlist, the transaction fee for that is 0.5% for each trade. Coinlist only offers spot trading, so if you're looking for futures trading, you'll need to look elsewhere.
Coinbase has a higher fee structure charging a 0.40% spot maker fee and a 0.60% spot taker fee. They also do not offer futures trading, which may be a deal-breaker for some traders. However, trading fees on Coinbase can be lowered if monthly trade volumes exceed $10,000.
Coinbase spot fees
Overall, both Coinlist and Coinbase charge quite high spot fees. For those that are looking for cheaper options, we recommend using exchanges like OKX, Pheme and Binance.
When it comes to deposit methods, Coinlist and Coinbase both offer options for fiat currency deposits. However, the number of supported currencies and deposit methods differ.
Coinbase allows deposits with three fiat currencies including USD, EUR, and GBP. Meanwhile, Coinlist only supports USD deposits.
Both exchanges offer ACH and wire transfer options for depositing fiat currency, but Coinbase also supports SEPA for EUR deposits and SWIFT for GBP deposits.
Fiat deposits on Coinbase
On the other hand, Coinlist only offers ACH and wire transfer as deposit method. The good news is that both exchanges offer depositing fiat currency without any fees.
This is a great advantage for traders who want to start investing in cryptocurrency without worrying about additional costs.
When it comes to withdrawing funds from an exchange, a crucial factor is the withdrawal methods offered. Let's take a look at Coinlist and Coinbase to compare their withdrawal options.
Coinlist, while not offering fiat withdrawals, allows users to withdraw their cryptocurrencies and digital assets using different blockchain fees.
For withdrawing Bitcoin, users are charged a 0.0005 BTC fee which is actually reasonable when compared to other exchanges.
The withdrawal fee for ETH is also reasonable with a cost of 0.004 ETH. Withdrawing ERC-20 USDT involves a steep fee of 6 USDT however.
Coinlist crypto withdrawal fees
In contrast, Coinbase offers fiat withdrawals via ACH, wire, SEPA, and Swift. This variety of options allows users to choose their preferred method and currency, making the process a lot more flexible.
The withdrawal fee for Bitcoin on Coinbase is 0.0005 BTC while ETH can be withdrawn for free. However, the withdrawal fee for USDT is $3.
In conclusion, Coinlist mainly specializes in new token issuance, facilitating the sale of tokens for established projects and connecting them with an extensive network of potential investors.
Coinbase on it's end is known for its user-friendly interface, security, and regulatory compliance. The exchange has over 100 million users mainly based in the US and Europe and supports a solid range of over 200 cryptocurrencies. Being based in the US, both exchange require all of their users to complete KYC.
Coinlist has over 10 million registered users and offers support for over 40 cryptocurrencies which is quite limited. The platform charges a 0.25% spot maker fee and a 0.45% spot taker fee on it's Coinlist Pro platform and 0.5% transaction fee for swapping coins.
Coinbase is unfortunately not better and charges a 0.40% spot maker fee and a 0.60% spot taker fee. Trading fees on Coinbase can be lowered if monthly trade volumes exceed $10,000.
Both exchanges offer options for fiat currency deposits without any fees. However, Coinbase has more varied deposit methods and supports more fiat currencies for deposit.
When it comes to withdrawing funds, Coinbase once again offers more variety in terms of fiat withdrawal methods while Coinlist does not offer any at all.
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.
