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Coinbase is a popular choice for anyone that wants a simple way to trade crypto and access to a slew of crypto-related features. But it’s not as cheap as CoinJar – which offers much lower trading fees when buying cryptocurrencies with a UK bank transfer or a debit card.
But which crypto platform is the overall better choice?
In this Coinbase vs CoinJar match-up, I’ll compare the advantages and disadvantages of both companies side-by-side.
Let’s get to it.
CoinJar and Coinbase are popular crypto trading platforms. Let’s take a quick look at each company to start our head-to-head match-up.
Coinbase is one of the world’s largest crypto trading platforms. The company was founded in 2012 and operates as a remote-first exchange with no official headquarters. Coinbase claims to have more than 68 million verified traders in more than 100 countries (including the UK).
Coinbase’s primary feature is its beginner-friendly crypto brokerage service that lets you instantly buy and sell dozens of top coins. It also offers an advanced crypto exchange and many other crypto investing tools. Coinbase’s primary advantage over CoinJar is its plethora of extra features.
Founded in 2013, CoinJar is an Australian company that’s fully registered with the Financial Conduct Authority (FCA) in the UK as a cryptoasset firm. The company currently only supports investors in the UK and Australia, but it has more than 400,000 active users.
With CoinJar, traders get a streamlined crypto investing platform with competitive fees. The firm offers both a broker service and an advanced crypto exchange. When compared to Coinbase, CoinJar’s main advantage is its simplicity and lower trading fees.
Although Coinbase and CoinJar are both crypto trading platforms, each offers unique features for investors.
With Coinbase, you can place quick instant buy-type trades through the firm’s broker service, or you can access a more advanced trading terminal with Coinbase Pro. CoinJar also offers instant buy trades and a crypto exchange.
However, Coinbase gives account holders access to a number of additional services, including:
1. Coinbase Earn: With Coinbase Earn, investors can earn free crypto just for watching educational videos.
2. Coinbase Pay: Coinbase Pay is an easy way to send or receive crypto from other Coinbase account holders.
3. Coinbase Card: The Coinbase Card is a Visa debit card that lets you use crypto to pay for goods and services. Check out my Coinbase Card review to learn more.
4. Coinbase Staking: Investors with Coinbase can stake supported cryptocurrencies directly from their Coinbase account. Note that the advertised rewards rate includes a 25% commission fee.
You can learn more about these features and more in my detailed Coinbase review.
CoinJar doesn’t offer as many extra features as Coinbase:
1.CoinJar Rewards: A cool way to win discounts, gift cards, and CoinJar swag, CoinJar Rewards is a loyalty programme that gives you points for every transaction you make on the platform. This feature is currently only available in Australia.
2. CoinJar Bundles: With CoinJar Bundles, you can purchase a set of different cryptocurrencies at once to quickly diversify your portfolio. For example, you can invest in the CoinJar Universe bundle, which lets you buy an equal amount of each of CoinJar’s 50+ supported cryptocurrencies with the push of a button.
3. CoinJar Card: The CoinJar Card is a crypto-backed Mastercard debit card that lets you use your crypto balance to pay for goods and services. It’s a lot like the Coinbase Card – but cheaper and better. Unfortunately, it’s currently only available in Australia.
To learn more about these features, check out my complete CoinJar review.
Both CoinJar and Coinbase offer crypto exchanges in addition to their popular brokerage services.
Coinbase’s exchange is called Coinbase Pro.
The primary benefits of Coinbase Pro are its lower fees, high trading volume, advanced order types (market, limit, and stop), API access, price charts, and depth charts. Coinbase Pro is also available in a mobile app, so you can place trades on the go.
The CoinJar Exchange has many of the same benefits as Coinbase Pro.
A notable advantage of CoinJar Exchange is that you’ll pay lower trading fees (including free trades for market takers). CoinJar Exchange’s price charts are a bit more sophisticated than Coinbase Pro’s, too.
On top of that, the CoinJar Exchange supports a wider array of order types than you get with Coinbase Pro, including Good til Cancel, Maker or Cancel, and Immediate or Cancel.
CoinJar’s exchange isn’t available on the firm’s mobile app. There’s also less trading volume on CoinJar’s exchange than with Coinbase Pro, which could lead to higher-than-market prices for certain trades.
Coinbase currently supports more than 50 cryptocurrencies, including major coins like Bitcoin (BTC), Ethereum (ETH), and Avalanche (AVAX). Check out Coinbase’s list of supported cryptocurrencies for more information.
With CoinJar, you can also buy and sell more than 50 cryptocurrencies. This includes all of the top coins, such as Bitcoin (BTC), and an extensive list of ERC-20 tokens, like Axie Infinity (AXS) and Chiliz (CHZ). Head to CoinJar’s full list of support cryptocurrencies to learn more.
On Coinbase, UK-based users can fund their account using the following payment methods:
1. UK bank transfer (via FPS)
2. SEPA bank transfer (for EUR)
3. SWIFT bank transfer
4. Debit and credit card
5. Crypto transfer
With CoinJar, you can only buy Bitcoin (BTC) and other cryptocurrencies in the UK using:
1. UK bank transfer (via FPS)
2. Debit and credit card
3. Crypto transfer
For UK traders, the main difference between Coinbase and CoinJar is that Coinbase also lets you use SEPA and SWIFT transfers to fund your account.
One of the biggest differences between CoinJar and Coinbase are the fees that you’re charged on each platform.
When you place a trade with Coinbase’s instant buy service, you’re charged a 0.50% spread fee, plus a transaction fee. The transaction fees are:
With CoinJar, you’re charged a 1% fee on all trades placed through the firm’s brokerage service. This ends up being much cheaper than what you get at Coinbase.
Coinbase and CoinJar both use a maker/taker fee schedule for their respective exchanges.
CoinJar and Coinbase have relatively few account limits.
For Coinbase, your account is subject to various trading limits based on your verification level. But if you complete photo ID verification, your only major limits are as follows:
Daily Fiat Withdrawal: £100,000
Daily UK Bank Transfer Deposit: £250,000
There are slightly lower daily deposit limits on Coinbase Pro (£50,000), but you can request a limit increase in your account dashboard.
CoinJar also has account limits, but these vary from trader to trader. One notable limit is that CoinJar only lets most traders buy about £10,000 worth of crypto each day. But you need to double-check your CoinJar account to learn more about your specific trading limits.
Coinbase and CoinJar both offer similar security features for investors.
Both companies let you use 2-factor authentication through an authenticator app or SMS to secure your account. One notable difference here is that Coinbase also supports physical security keys for 2-factor authentication – while CoinJar doesn’t.
Coinbase and CoinJar also both store the bulk of client assets in cold storage units to protect them from hackers.
Additionally, Coinbase states that it has an insurance policy to reimburse client assets lost during a security breach. CoinJar says that it has an insurance policy for client assets that’s provided by its custodian, BitGo. Neither company mentions how much their insurance policies cover.
So, which one comes out ahead?
In truth, Coinbase and CoinJar are very similar platforms – each of which is trying to make it as frictionless as possible to buy, sell, and store Bitcoin (BTC) and other cryptocurrencies.
I think Coinbase is best if you’re:
1. Interested in extra features beyond crypto trading.
2. Okay with paying more in fees for added functionality.
3. Looking to deposit cash with a SWIFT or SEPA transfer.
But CoinJar might make more sense if you’re:
1. Keen to keep your crypto trading fees as low as possible.
2. Looking for a cheap way to buy crypto using a debit or credit card.
3. Not really interested in extra features beyond a crypto trading platform.
If I had to choose, my personal preference is CoinJar.
That’s because it’s simpler to use (as it’s not bundled with extra features like Coinbase) and works out cheaper – especially for smaller purchases.
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