Swissborg vs Coinbase | Does Swissborg Have Any Upsides?
Jack Moreau
Feb 2024
9 min read
Fact checked
Swissborg vs Coinbase: Looking for the best crypto exchange? We've got you covered! In this comparison, we've analysed both platforms on several key factors, including KYC requirements, product offerings, fees, and more. Read on to find out if Swissborg or Coinbase best suits your needs and preferences!
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.
Swissborg, headquartered in Lausanne, Switzerland, is a smaller cryptocurrency exchange and wealth management platform with a user base of over 700,000 users across Europe.
Swissborg exchange
The platform is designed to cater to beginners with a modern and user-friendly mobile app, and it offers users the option to buy and sell a limited range of 50 cryptocurrencies, including Bitcoin, Ethereum, Swissborg Token, USDC, USDT, BNB, XRP, AVAX, and others.
The exchange is available in over 50 countries around the world, with a footprint in Africa, Europe, Asia, North & South America. However, restricted countries include the US, Turkey, and many others.
Coinbase offers a range of services, such as spot trading, recurring buys, staking, and a reward-based educational program called Coinbase Learn & Earn.
The exchange supports a decent range of over 200 cryptocurrencies, including Bitcoin and Ethereum along with multiple fiat currencies.
Coinbase offers a wider range of cryptocurrencies than Swissborg, and a more advanced trading platform, making it a popular choice for both beginners and experienced traders alike.
Swissborg vs Coinbase Signup & KYC
Swissborg and Coinbase are two popular cryptocurrency exchanges that have different requirements for signing up and completing their Know Your Customer (KYC) process.
To begin using Swissborg, users must first download the app on either Android or IOS. Once the app has been downloaded, users must first verify their phone number and create a 4 digit passcode.
The next step after is to complete the KYC process by providing personal details, email, residential address, identity verification and answering a questionnaire. KYC is required for all users on Swissborg and it's not possible to access the services on the app without being verified.
On the other hand, the signup process on Coinbase takes about 1 minute to complete as users just need to provide full name, email and password. Similar to Swissborg, KYC is also required by Coinbase in order to use any of it's many services.
Coinbase signup
In terms of the verification process, submitting all of the required information and documents for verification such as country of residence, address and government ID takes a few minutes to complete. It can then take Coinbase up to a few hours to verify the account so that users can begin trading.
Swissborg vs Coinbase Products & Services
Moving on to product range offered, Swissborg is a cryptocurrency exchange that offers a more limited selection of products and services. Users can buy and sell 50 cryptocurrencies and earn interest on 16 digital assets.
Swissborg supported cryptocurrencies
Swissborg also has its own multi-asset launchpad where users can access early-stage opportunities and its own native token called CHSB.
The user experience on Swissborg is limited to their mobile apps as no services are available via browser like most other exchanges.
Swissborg earn
Besides that, it's a beginner-friendly exchange that offers basic products and services in an easy to understand manner.
On the other hand, Coinbase one of the biggest exchanges in the world and offers its users a wide range of features and services.
These include spot trading, lending and borrowing, staking, and its own non-custodial Web 3 wallet. Coinbase also has its own NFT marketplace and rewards users with digital assets through its "Learn and Earn" program.
Coinbase products and services
In terms of liquidity, Coinbase is in the top 5 category with daily spot trading volumes frequently exceeding $1 billion. Coinbase Pro customers in 23 U.S. states can access up to 3x leverage on USD-quoted books.
Coinbase earn
For institutional clients, Coinbase also offers Coinbase Custody and an OTC trading desk. The user experience on Coinbase is great with a beginner-friendly and easy to navigate website. However, it frequently has connection issues where users have to wait to log in.
Coinbase Pro
Overall, Swissborg is a more limited exchange that offers basic products and services while Coinbase is a more comprehensive exchange that offers a wide range of features and services.
When it comes to trading fees, Swissborg and Coinbase have very different approaches. Let's start with Swissborg. There are two types of trading fees on Swissborg: exchange fees and thematics fees. These fees vary depending on the account status of each user.
For example, exchange fees range from 1% to 0.25% depending on whether the account status is Standard (lowest level) or Genesis (highest level).
Swissborg trading fees
For Thematics, the fees range from 2% for standard accounts to 1% for Genesis accounts. It's worth noting that these fees are quite high compared to other exchanges, but Swissborg offers a unique investment platform that some users may find appealing.
Now let's take a look at Coinbase trading fees. Coinbase charges a spot maker fee of 0.4% and a spot taker fee of 0.6%. On top of this, trading fees on Coinbase can be lowered if monthly trade volumes exceed $10,000. This may be more appealing to high volume traders who want to save on fees.
Coinbase spot fees
Overall, Coinbase offers much lower trading fees than Swissborg even though Coinbase itself is not among the cheapest options on the market.
Swissborg and Coinbase are both popular cryptocurrency exchanges, but when it comes to depositing funds, they offer different options.
Swissborg supports four fiat currencies in EUR, GBP, CAD, and CHF. For GBP, users can deposit funds via Faster Payments (FSP) and Swift transfers.
For EUR deposits, SEPA is the way to go, while those who wish to deposit CAD or CHF can do so via Swift transfers.
Users can also deposit funds with Visa or Mastercard. Deposits from a bank account are free of charge, while deposits with cards have a minimum fee of 5 EUR and range between 1.5% to 4.5%.
As for Coinbase, their users can deposit funds with three fiat currencies like USD, EUR, and GBP. They offer multiple deposit methods, including ACH, wire (USD), SEPA (EUR), and Swift (GBP). ACH deposit is free, while wire deposit incurs a $10 USD fee.
Coinbase fiat deposit
SEPA deposit comes with a 0.15 EUR fee, and Swift deposit is free. In terms of fees for depositing with a card, Coinbase charges a 1.8% fee for deposits made with Visa and Mastercard.
When the time comes to withdraw funds, Swissborg offers a 0.1% execution fee for those who wish to withdraw fiat or cryptocurrencies.
However, the minimum withdrawal fees for Bitcoin are 0.0002 BTC, for Ethereum it's 0.0018 ETH, 0.008 SOL for Solana, and 7 USDT for Tether.
Swissborg fiat withdrawal fees
It's important to note that the bigger the amount, the bigger the fee is, which is highly unusual and very costly for users as they may pay up to 100 EUR to withdraw their funds!
Coinbase offers fiat withdrawals via ACH, Wire, SEPA, and Swift. ACH withdrawal is free, Wire withdrawal costs $25 USD, SEPA withdrawal costs 0.15 EUR, and Swift withdrawal costs 1 GBP.
Coinbase fiat withdrawals
When it comes to cryptocurrency withdrawals, the fees for Bitcoin are 0.0001 BTC, for Ethereum it's 0.04 ETH, for Solana it's 0.03 SOL, and for USDT it's 10 USDT. Coinbase is thus the more cheaper exchange to withdraw funds from (fiat and crypto) compared to Swissborg.
In conclusion, while Swissborg caters to beginners with a limited range of 50 cryptocurrencies, Coinbase offers a wider range of over 200 cryptocurrencies and advanced trading features.
Both exchanges require KYC verification, but Swissborg has a more comprehensive process, including a mobile app download, while Coinbase has a faster signup process.
In terms of trading fees, Swissborg charges higher fees for exchange and thematics trading which range up to 1-2%, while Coinbase charges lower fees for spot trading (0.4-0.6%) with the potential for reduced fees with high monthly trade volumes.
When it comes to fiat deposits and withdrawals, Swissborg supports four fiat currencies, while Coinbase supports three, and both offer multiple deposit methods with varying fees.
When it comes to withdrawals, Swissborg's fees for cryptocurrency withdrawals are a lot higher, while Coinbase offers a range of options for both fiat and cryptocurrency withdrawals at reasonable fees.
Coinbase is clearly superior to Swissborg both in terms of cryptocurrencies and having a more diverse product range but also being cheaper for trading and withdrawals.
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.
