Hotbit vs Coinbase | Why Coinbase Is The Only Choice Today

When it comes to trading fees, Hotbit and Coinbase each with their own unique fee structures.

Let's first take a closer look at the trading fees offered by Hotbit. Hotbit charges a spot trading fee for makers between 0.05% and 0.50% and for takers, the fee ranges from 0.2% to 0.65%.

For futures trading, makers and takers are charged the same fees as for spot trading. In addition to this being a confusing fee structure, Hotbit also does not offer any rebates for higher trading volumes so the fees always remain the same.

Now, let's take a look at the trading fees offered by Coinbase. They offer a spot maker fee of 0.40% and a taker fee of 0.60%. However, these fees can be lowered if monthly trade volumes exceed $10,000.

While Hotbit offers some lower trading fees for certain coins, the reality is that for main altcoins, users will be paying a maker and taker fee roughly as high as Coinbase offers. For those who prefer trading with lower trading fees, we recommend alternative exchanges such as Phemex and OKX.

Let's take a look at their fiat deposit methods and fees. Hotbit currently does not support any fiat deposits so only crypto deposits are possible on this platform.

However, if you wish to purchase crypto using a credit card, they have partnered with third-party providers to offer this option to their users. We don't recommend buying cryptocurrencies through third-party providers as the fees are much higher.

Coinbase does a much better job than Hotbit and allows it's users to deposit three fiat currencies including USD, EUR, and GBP via various methods. ACH deposit is free, Wire deposit costs $10 USD, SEPA deposit costs 0.15 EUR, and Swift deposit is free of charge.

Coinbase also accepts debit card transfers and PayPal for USD, EUR, and GBP, however, these options incur a fee of 3.49% and 2.5%, respectively.

Hotbit and Coinbase differ once again in terms of the withdrawal methods that they offer.

Once again, Hotbit does not offer any fiat currency withdrawals which means that users can only withdraw cryptocurrencies.

Bitcoin withdrawals come with a fee of 0.001 BTC while withdrawing Ethereum comes with a high fee of 0.01 ETH. If you're withdrawing ERC-20 USDT, you'll need to pay a fee of 2 USDT.

On the other hand, Coinbase offers fiat currency withdrawals via ACH, Wire, SEPA, and Swift. Withdrawal fees for ACH are free, while wire withdrawals come with a $25 fee. SEPA withdrawals have a fee of low 0.15 EUR fee while Swift withdrawals have a fee of 1 GBP.

When it comes to cryptocurrency withdrawals, Coinbase charges a fee of 0.0001 BTC for Bitcoin withdrawals, Solana withdrawals come with a fee of 0.005 SOL, and USDT withdrawals have a fee of $3.

In conclusion, Hotbit and Coinbase are two popular cryptocurrency exchanges that cater to different types of traders and investors.

Hotbit offers over 400 cryptocurrencies with a confusing and average fee structure but with the benefit of not requiring KYC for trading. It has over 7 million registered users and a daily trading volume of over $140 million.

Coinbase offers over 200 cryptocurrencies, a more polished and beginner-friendly user experience, and a some additional more beginner friendly features such as staking and recurring buys. It has over 100 million users and daily trading volumes frequently exceeding $1 billion.

When it comes to trading fees, Hotbit charges spot and futures trading fees ranging from 0.05% to 0.65%, while Coinbase charges a spot trading fee of 0.40% for makers and 0.60% for takers.

In terms of deposit methods, Hotbit only allows crypto deposits while Coinbase allows fiat currency deposits via various methods, including ACH, wire, SEPA, and Swift.

Overall, both exchanges have their strengths and weaknesses. Hotbit is an offshore exchange which means it can offer more risky trading services with 100X leverage while Coinbase is more conservative with a more beginner friendly focus.