Kriptomat vs Coinbase | Why Coinbase Is Best For Europeans
Jack Moreau
Feb 2024
10 min read
Fact checked
Kriptomat vs Coinbase: Our team has researched both platforms in detail to uncover their products, features, fees, and user experience. By the end of this comparison, you'll have a clear understanding of which exchange best suits trading needs, Kriptomat or Coinbase!
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.
Kriptomat is a newer player in the cryptocurrency exchange game having been founded in 2018 by Srdjan Mahmutovic and Dejan Davidovic.
Based in Estonia, Kriptomat is focused on providing a user-friendly and compliant way to buy, sell, and store a range of cryptocurrencies.
Kriptomat exchange
With over 500,000 registered users, Kriptomat has garnered a solid reputation for its ease of use and diverse range of assets.
The exchange offers over 350 cryptocurrencies for purchase and sale, making it a great option for those looking to diversify their holdings.
Kriptomat is also available on Android and IOS where they have over 50,000 downloads and a decent 4 star rating.
Kriptomat app
Coinbase has been a major player in the cryptocurrency exchange space since its founding in 2012 by Brian Armstrong and Fred Ehrsa.
Based in the United States, Coinbase has become known for its user-friendly interface, security and regulatory compliance.
Coinbase exchange
The platform supports a range of over 200 cryptocurrencies including well known ones such as Bitcoin and Ethereum and lesser known altcoins such as UNI, ATOM and DOT.
With over 100 million users across the world, Coinbase is one of the largest and most trusted exchanges in the world.
The platform offers a range of services, including spot trading, recurring buys, staking, and Coinbase Learn & Earn, making it a great option for both retail and institutional investors.
Coinbase is also available to use on mobile for both Android and IOS for those who prefer the app user experience.
Coinbase Android app
Kriptomat vs Coinbase Signup & KYC
When it comes to signing up for Kriptomat and Coinbase, both platforms require KYC verification while the signup processes differ slightly.
On Kriptomat, the signup process is quick and users simply need to provide their email address and confirm the verification code sent to them.
They'll then need to enter their phone number and complete the full KYC verification process which takes just a few minutes. This includes providing their country of residence, address, and uploading a government-issued ID and selfie.
KYC on Kriptomat
Coinbase signup process requires users to add a bit more information including full name, email and password.
Once users have verified their email they can complete KYC right away by providing personal information such as country of residence, providing their phone number and uploading a government ID.
This process takes a few additional minutes to complete and assuming all the documents are in order, the verification process can take a few minutes to a few hours to be completed.
Signup on Coinbase
While both exchanges have quick signups with differing verification process for KYC, one thing is remains the same, both exchanges have mandatory KYC in order to use their respective services.
For those who would like to buy and sell cryptocurrencies without going through KYC, we recommend using Phemex or OKX.
Kriptomat vs Coinbase Products & Services
Kriptomat has been designed well and provides an effortless experience for beginners looking who are new to the world of cryptocurrencies.
With support for over 350 digital assets, the platform enables users to buy and sell cryptocurrencies, establish recurring purchases, stay updated with price alerts, and even earn rewards by completing specific tasks.
Kriptomat products
The intuitive and user-friendly interface makes Kriptomat an excellent choice for those taking their first steps in the crypto market.
While it might not cater to the demands of seasoned traders, Kriptomat offers a seamless entry point for newcomers to explore the crypto landscape.
Kriptomat services
On the other hand, Coinbase is together with Binance the biggest exchange in the world and primarily focuses its products and services on on beginners and institutional clients.
Coinbase USPs
The platform's adherence to strict U.S. regulations means that it does not offer the same type of high-risk products available on offshore exchanges.
This limitation while possibly less appealing to more demanding traders, makes it easier for beginners to navigate a simpler and easier to use platform.
Coinbase Dashboard
The platform is designed with two interfaces which consist of the standard Coinbase interface, which is more beginner-friendly, and the Advanced interface, which offers more complex trading tools and products.
Coinbase Buy & Sell
This dual-interface approach ensures that users of all levels can find tools and features suited to their experience and needs.
Coinbase provides over 240 cryptocurrencies available for trading. Users can engage in transactions using a simple buy-and-sell feature, or opt for spot trading in the Advanced section.
Coinbase Spot Trading
The platform also supports Dollar Cost Averaging through a feature that allows for regular, recurring purchases of cryptocurrencies.
In an effort to expand its offerings, Coinbase has introduced futures trading for BTC and ETH. They have also recently introduced perpetual contracts for various cryptocurrencies like BTC, ETH, LTC, SOL, XRP, and AVAX, with up to 5X leverage.
Coinbase Crypto Futures
And while Coinbase is a top 3 leader in spot trading volumes, its presence in the futures market is comparatively smaller.
Coinbase Trading Volumes
For those interested in earning passive income, Coinbase offers an attractive 5% interest rate on USDC holdings that are stored in users accounts.
Coinbase Earn
The platform also features a unique educational program where users can learn and earn while earning rewards in the form of tokens.
Coinbase has ventured into the NFT space with its own platform where anyone can easily mint, buy, and sell NFTs on various blockchains like Ethereum, Base, and Polygon.
Coinbase NFTs
Bridging cryptocurrencies with real-world spending is also possible with Coinbase's Visa Card that let's users to spend their crypto or USD and earn rewards on purchases.
Coinbase Visa Card
For those who prefer a non-custodial approach to managing their crypto assets, the Coinbase Wallet enables storage and management of cryptocurrencies on blockchains like Bitcoin, Ethereum, and Solana.
Coinbase Wallet
Additionally, Coinbase has launched the Coinbase One Membership which for a monthly fee of $29.99, provides benefits like zero-fee trades, increased staking rewards, and priority customer support.
Coinbase One Membership
As a U.S.-based public company, Coinbase is subject to stringent regulatory standards ensuring a high level of safety and security for its users.
This makes Coinbase an attractive platform for major institutions like BlackRock and Grayscale, which manage a substantial portfolio of crypto assets, including Bitcoin, Ethereum, and Solana.
Coinbase Institutions
With Coinbase Prime, the platform caters to high-net-worth individuals and institutional clients, offering sophisticated trading options, financing solutions, secure cold storage, and comprehensive staking services.
It's important to understand the fee structure of each exchange when it comes to buying and selling cryptocurrencies. Let's look closer at Kriptomat and Coinbase which each have their unique fee structures.
Kriptomat has adopted a fee structure that includes a relatively high minimum fee of 1.45 EUR per transaction. Alternatively, users may be charged a percentage-based fee of 0.45% once the minimum fee has been exceeded.
Coinbase on the other hand charges a fee of 0.40% for spot makers, those who place limit orders that add liquidity to the market, and a slightly higher fee of 0.60% for spot takers, those who execute market orders that remove liquidity from the market.
Coinbase Fees
While Coinbase offers a lower fee structure than Kriptomat, it's worth highlighting that the trading fees of both exchanges are quite a bit higher than alternative platforms such as Binance, OKX and Phemex.
We recommend using these alternative platforms for those who want to trade larger amounts or simply minimize their cost structure.
One of the key factors that distinguishes these two exchanges is the fiat deposits and deposit methods they offer to users.
Kriptomat supports a range of Europoean fiat currencies besides EUR, including Czech CZK, Danish DKK, Hungarian HUF, Norwegian NOK, Polish PLN, Romanian RON, Russian RUB and UKs GBP.
Fiat currency deposits on Kriptomat can be made either via credit and debit card or via bank transfer. Credit card deposits come with a 1.99% deposit fee while EUR deposits via SEPA come with a 1 EUR fee.
Additionally, bank wire is possible for a range of European fiat currencies with each deposit costing 3 EUR.
Fiat deposits on Kriptomat
Coinbase offers users the ability to deposit funds with 3 fiat currencies including USD, EUR, and GBP. Users can make fiat deposits via ACH, WIre (USD), SEPA (EUR), and Swift (GBP). An ACH deposit is free of charge, whereas a wire deposit costs $10 USD.
Coinbase Fiat Deposit
A SEPA deposit, on the other hand, costs 0.15 EUR, and Swift deposit is free. While Kriptomat offers more options for depositing fiat currencies, Coinbase allows for more convenient and simplified deposit methods with lower or no fees.
When it comes to fiat withdrawals, Kriptomat offers SEPA bank transfers for EUR with a 1 EUR withdrawal fee.
On the other hand, Coinbase offers a wider selection of fiat withdrawal methods that include ACH, Wire, SEPA, and Swift.
ACH withdrawals on Coinbase are free while wire withdrawals cost $25 USD. SEPA withdrawals cost 0.15 EUR while Swift withdrawals cost 1 GBP.
Moving on to cryptocurrency withdrawals, Kriptomat charges a 0.0002 BTC fee for Bitcoin withdrawals, a 0.012 ETH fee for Ethereum withdrawals and a 0.008 SOL fee for Solana withdrawals.
Coinbase charges a 0.0001 BTC fee for Bitcoin withdrawals, free ETH withdrawals, a 0.005 SOL fee for Solana withdrawals and a $3 fee for USDT withdrawals.
It's important to take these fees into consideration when choosing which exchange to use for your cryptocurrency transactions. In this case, both exchanges do a good job of offering a wide range of both fiat and crypto withdrawals with low fees.
In conclusion, Kriptomat has a user-friendly interface that caters to beginner crypto investors and is mainly focused on the European market.
The exchange offers a wide range of over 350 cryptocurrencies which is bigger than Coinbase's 200 coins for sale.
When it comes to signup processes, both exchanges have mandatory KYC verification as they are both licensed and regulated across multiple European markets.
While none of the exchanges excel when it comes to the number of products and services that they offer, Coinbase offers products with it's earn products, NFTs and Coinbase card.
With regards to trading fees, Kriptomat's 0.45% transaction fees is slightly higher than Coinbase's 0.40% maker fee and lower than it's 0.60% taker fee.
Both exchanges have done a good job offering their users multiple fiat currencies to deposit and withdraw at low to no costs.
Both exchanges are however mainly tailored to beginners. For professional traders who are looking for additional products such as futures, options, margin trading and more with even lower trading fees, we recommend alternative exchanges such as Binance, OKX and Phemex.
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.
