July 2, 2021

eToro vs Coinbase

Read more about eToro
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eToro and Coinbase both have a lot to offer to beginners and seasoned traders alike. But which one is best for you? And which charges more fees?

eToro and Coinbase have a lot in common.

  1. They both trade major cryptocurrencies like Bitcoin, Ethereum, and Bitcoin Cash.
  2. They both offer useful features for crypto beginners.
  3. They make it easy to get started.

But neither is perfect. Coinbase comes with higher fees and some privacy concerns. eToro has fewer coins and a more complicated withdrawal process.

That said, both have a lot to offer, especially for beginners. Read our detailed review to find out which is right for you.

 eToroCoinbase
 Visit SiteVisit Site
 

eToro

Coinbase

OFFER
Trade Popular Cryptocurrencies - Learn More

SPECIAL OFFER
Earn $5 in bitcoin for getting started on Coinbase - Learn More

 

Benefits and Features

Stock Trading
$0
No
Options Trading 
No
Cryptocurrencies Supported
26 (24 in the US)
50
Countries Supported
Over 100
Over 100
Fiat Currencies SupportedUSD, EUR, GBP, JPY, AUD, CAD, CHF, NZD, ZAR, RUB, CNH, NOK, SEK, TRY, MXN, SGD, PLN, HUF, CZK, RON
USD, GBP, EUR
Digital Wallet
Yes
Yes
Transaction Fee
Free
Greater of Minimum Flat Fees or Variable Fees (1.49%+) by Location and Payment Method.
Minimum Flat Fees:
  • < $10: $0.99
  • $10.01 - $25: $1.49
  • $25.01 - $50: $1.99
  • $50.01 - $200: $2.99
Copy Trading
Yes
No
Limit Orders
Yes
No
Margin Trading
Yes
No
Spread
0.75% - 5%
0.50%
Crypto Loans
No
Invitation only
Bank Account Purchase Fee
Free
1.49%
Debit Card Purchase Fee
Free
3.99%
Wallet Purchase Fee
Free
1.49%
Mobile App
Yes
Yes
ACH Transfer Fee
Free
Free
Wire Transfer Fee
Free
$10 ($25 outgoing)
Crypto Conversion Fee
0.10%
up to 2%
Other FeesCrypto transfer fee: 0.0005 units - .25 units; $10 monthly fee after 12 months inactivityInstant Card Withdrawal: up to 1.5% + minimum fee of $0.55
Address Allowlisting
No
Yes
Anonymity
No
No
Biometric Login
No
Yes
Cold Storage
Yes
Yes
Two-Factor Authentication
SMS
SMS or Google Authenticator
Withdrawal Limit
$30 minimum
$50,000 / day
 Visit SiteVisit Site

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Coinbase: Pricing information from published website as of 04/13/2021.

What are eToro and Coinbase?

eToro and Coinbase are two of the biggest names in cryptocurrency trading.

eToro
eToro is a cryptocurrency exchange and brokerage platform founded in Israel in 2007. Currently, U.S. users can only trade cryptocurrencies on eToro. International users can also trade in securities, commodities, and Forex.

eToro introduced their popular CopyTrading feature in 2010. This allows users to automatically mimic the trades of successful traders. If you haven't yet developed a strategy of your own, eToro is perfect for taking a more hands-off investing approach.

eToro makes its money through fees. They've got an app and a desktop site.

Coinbase
If you've heard of any cryptocurrency exchange, it's probably Coinbase. It's known for being very easy to use, and offers an extensive range of cryptocurrencies to trade through a simple app or through their desktop site.

Coinbase was founded in 2012 and is based in San Francisco. They started by offering the ability to buy and sell Bitcoin via bank transfers, and they've been adding more trading options ever since.

Like eToro, Coinbase makes their money through fees, and theirs are high compared to most other exchanges. The cost can be mitigated by using Coinbase Pro, a separate app that offers much lower rates in exchange for more expert-level features.

Before picking a platform, it's good to look at all your options. See what else is out with our round-up of the best cryptocurrency exchanges.

Pros and Cons

Want the quick takeaway? Review the below pros and cons to decide which platform to sign up for.

Coinbase Pros and Cons

  • Beginner-friendly
  • Wide range of currencies
  • Widely available
  • High-level security
  • High fees
  • No private keys
  • No phone support

Choose Coinbase if: Your ultimate priority is trading cryptocurrency; you're a true beginner; you don't mind paying higher fees for added features and more crypto data

Coinbase

Earn $5 in bitcoin for getting started on Coinbase

Personalized $5 reward offer is displayed after account creation. Limited time offer and while supplies last. Offer available to new users who have not previously verified their identification. Offer not available to new users who were referred to Coinbase through the Referral Program or who have previously opened an account using different contact information. Coinbase may update the conditions for eligibility at any time, in its sole discretion. See Terms and Conditions.

eToro Pros and Cons

  • Copy top traders
  • Commission-free
  • Virtual practice accounts
  • Membership tiers for extra perks
  • Fewer coins offered
  • Slow customer service
  • Can't withdraw crypto directly

Choose eToro if: You want to be able to copy the moves of other traders; you want a more social experience

What Cryptocurrencies Do They Support?

eToro Supported Cryptocurrencies[1]

  • Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Ethereum Classic, Cardano, Iota, Stellar, EOS, NEO, Tron, ZCash, Tezos, Compound, Chainlink, Uniswap, Yearn.finance, Dogecoin, Aave, Decentraland

Coinbase Supported Cyrptocurrencies[2]

  • Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, 0x, USD Coin, Basic Attention Token, Kyber Network, OMG Network, Dai, Zcash, Stellar Lumens, EOS, Tezos, Algorand, Dash, Cosmos, Orchid, Compound, Enjin Coin, Band Protocol, Numeraire, Celo, UMA, Loopring, Yearn.finance, Uniswap, Balancer, Ren, Wrapped Bitcoin, NuCypher, Filecoin, Aave, Bancor Network Token, The Graph, Synthetix Network Token, Storj, SushiSwap, Polygon, SKALE, Cardano, Ankr, Curve DAO Token, Internet Computer, NKN, Origin Token, 1inch, Tether, Ampleforth Governance Token, Cartesi, Tellor, Mirror Protocol, iExec RLC, Polkadot, Dogecoin, Enzyme, Gitcoin, Amp

Where are They Available?

eToro Supported Countries
eToro is available in over 100 countries worldwide, including most of the U.S. In the U.S., eToro is available in the following states:

  • Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia, Washington, Washington D.C., West Virginia, Wisconsin and Wyoming

eToro currently supports the following fiat currencies: USD, EUR, GBP, JPY, AUD, CAD, CHF, NZD, ZAR, RUB, CNH, NOK, SEK, TRY, MXN, SGD, PLN, HUF, CZK, RON

eToro is blocked in a large number of countries due to regulatory issues (see below).

eToro is NOT available in the following countries:
  • Afghanistan
  • Aland Islands
  • Albania
  • Anguilla
  • Antarctica
  • Antigua and Barbuda
  • Armenia
  • Aruba
  • Bahamas
  • Barbados
  • Belarus
  • Belize
  • Benin
  • Bermuda
  • Bhutan
  • Bonaire
  • Bosnia and Herzegovina
  • Botswana
  • Bouvet Island
  • Brunei
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • Central African Republic
  • Chad
  • Chagos Islands
  • China
  • Christmas Island
  • Cocos Islands
  • Comoros
  • Congo Republic
  • Cook Islands
  • Cote d'Ivoire
  • Crimea Region
  • Cuba
  • Curacao
  • Democratic Republic of the Congo
  • Djibouti
  • Dominica
  • El Salvador
  • Equatorial Guinea
  • Ethiopia
  • Faeroe Islands
  • Falkland Islands
  • Fiji
  • Gabon
  • Gambia
  • Ghana
  • Greenland
  • Grenada
  • Guatemala
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Heard Island and McDonald Islands
  • Honduras
  • Hong Kong
  • India
  • Indonesia
  • Iran
  • Iraq
  • Jamaica
  • Japan
  • Kiribati
  • Kosovo
  • Kyrgyzstan
  • Laos
  • Lebanon
  • Lesotho
  • Liberia
  • Libya
  • Macau
  • Madagascar
  • Malawi
  • Maldives
  • Mali
  • Marshall Islands
  • Mauritania
  • Mauritius
  • Micronesia
  • Moldova
  • Mongolia
  • Montenegro
  • Montserrat
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nauru
  • Nepal
  • Netherlands Antilles
  • Nicaragua
  • Niger
  • Nigeria
  • Niue
  • Norfolk Island
  • North Korea
  • North Macedonia
  • Northern Cyprus
  • Pakistan
  • Palau
  • Palestinian Territories
  • Panama
  • Papua New Guinea
  • Paraguay
  • Pitcairn Islands
  • Russia
  • Rwanda
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Pierre
  • Saint Vincent and the Grenadines
  • Samoa
  • San Marino
  • Sao Tome
  • Saudi Arabia
  • Serbia
  • Sierra Leone
  • Sint Maarten (Dutch Part)
  • Solomon Islands
  • Somalia
  • South Africa
  • South Georgia and the South Sandwich Islands
  • South Sudan
  • Sri Lanka
  • Sudan
  • Suriname
  • Svalbard and Jan Mayen
  • Swaziland
  • Syria
  • Tajikistan
  • Tanzania
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Uganda
  • Uzbekistan
  • Vanuatu
  • Vatican City
  • Venezuela
  • Virgin Islands (British)
  • Yemen
  • Zambia
  • Zimbabwe

Coinbase Supported Countries
Coinbase is available in over 100 countries, but not every country gets the same services. Here they are broken down by continent.

RegionBuy, Sell and ConvertBuy and Convert
North AmericaUnited States, CanadaMexico
EuropeAndorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia Finland, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United KingdomN/A
OceaniaAustralia
South AmericaN/AChile
AsiaN/ASingapore

All other supported countries offer conversion services only.

Coinbase supports USD, GBP, and EUR.

Exchange & Other Features

Both platforms offer an exchange that allows you to buy, sell, and trade cryptocurrencies.

The main differences are:

  • The number of cryptocurrencies offered (Coinbase has more)
  • The fees, which we discuss in detail below
  • The ability to execute limit orders and margin trades, which eToro supports and Coinbase doesn't

Review the features of each to find the right exchange for you.

eToro Features

CopyTrader:
eToro's CopyTrader feature is eToro's standout offering. Instead of paying expensive fees for traditional fund managers, eToro users can mimic the trades of successful traders for free.

Choose who to follow based on metrics like risk score, monthly and yearly performance, portfolio composition, number of trades, and number of followers. Copyable traders can also post comments and communicate through a public feed.

The copy trading minimum is $200; the max is $500,000. Follow up to 10 traders at a time. To reduce risk, you can opt to stop copying any trader if the value drops below a certain percent.

CopyPortfolio:
The CopyPortfolio feature that expands on eToro's CopyTrading. There is a higher minimum investment of $5,000, but it allows you to minimize risk by investing in a portfolio of cryptocurrencies, rather than following a single trader.

There are currently 5 crypto-based portfolios to choose from:

  • BitcoinWorldWide
  • FuturePayments
  • CryptoEqual
  • Crypto-Currency
  • CryptoPortfolio

Practice Accounts:
You can experiment with investing in cryptocurrency without the risk using one of eToro's practice accounts. They will give you $100k of virtual money to practice with.

You won't be able to earn anything this way, but it's a safe way for beginners to get a feel for the platform and trading in general.

Staking Rewards:
eToro users can earn staking rewards. Currently, the only currencies they offer are Cardano (ADA) and Tron (TRX). While the options are limited compared to some companies offering staking rewards, the returns are high.

What is staking? Via Coinbase: "Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards."

Educational Resources:
Weekly Crypto Roundups are available on eToro's blog to keep you up to date on the latest crypto news. Find detailed financial guides and video tutorials for new traders trying to understand the world crypto, and how to trade on the platform.

eToro Club
Tiered VIP accounts offer a variety of perks like bonuses to staking interest rates, dedicated account managers, newsletters, reports, webinars, and customer service benefits.

Base users start at the Bronze level with no requirements. Benefits start at Silver, which requires $5,000 in equity, and tiers go up to Diamond, which requires $250,000.

Coinbase Features

Staking Rewards:
Coinbase also offers staking rewards. They currently support 6 coins with different rates of return, with more added all the time:

  • Ethereum - 5.00%
  • Algorand - 4.00%
  • Cosmos - 5.00%
  • Tezos - 4.63%
  • Dai - 2.00%
  • USD Coin - 0.15%

Crypto-backed Loans:
Coinbase has a crypto-backed loan program that allows users to borrow against the value of their Bitcoin. Currently, they charge 8% APR due monthly. The minimum you can borrow is $10,001.00, which requires a deposit of the equivalent of $25,002.50 in BTC.

Coinbase Wallet:
Users can store their cryptocurrency and manage their private keys on the Coinbase Wallet, a standalone app that allows users to store their cryptocurrencies directly on their devices and manage their private keys.

It does not require a Coinbase account to use, and is available anywhere in the world.

Coinbase Pro:
With the original Coinbase app, users pay a premium in fees for a beginner-friendly interface. Coinbase Pro inverts that dynamic by offering low fees to those willing and able to use an expert-oriented app.

Coinbase Card:
Though it isn't yet available, Coinbase and Visa plan to release a debit card that allows users to spend their crypto directly while earning rewards. Accepted where Visa debit cards are, it will have no annual or sign-up fee, and up to 4% cash back rewards on every purchase.

Coinbase Earn (Rewards):
You can earn crypto while you learn with Coinbase Earn, their own rewards feature. Watch videos and take quizzes about currencies like Amp, The Graph, Stellar Lumens and more. Each task usually takes 1-3 minutes and pays about a dollar a minute.

Fees to Look Out for

Whether you're trading frequently or not, fees matter. Here's a look at how the fees compare between eToro and Coinbase.

 eToroCoinbase
 Visit SiteVisit Site
 

eToro

Coinbase

OFFER
Trade Popular Cryptocurrencies - Learn More

SPECIAL OFFER
Earn $5 in bitcoin for getting started on Coinbase - Learn More

Transaction Fee
Free
Greater of Minimum Flat Fees or Variable Fees (1.49%+) by Location and Payment Method.
Minimum Flat Fees:
  • < $10: $0.99
  • $10.01 - $25: $1.49
  • $25.01 - $50: $1.99
  • $50.01 - $200: $2.99
Spread
0.75% - 5%
0.50%
Bank Account Purchase Fee
Free
1.49%
Debit Card Purchase Fee
Free
3.99%
Wallet Purchase Fee
Free
1.49%
ACH Transfer Fee
Free
Free
Wire Transfer Fee
Free
$10 ($25 outgoing)
Crypto Conversion Fee
0.10%
up to 2%
Other FeesCrypto transfer fee: 0.0005 units - .25 units; $10 monthly fee after 12 months inactivityInstant Card Withdrawal: up to 1.5% + minimum fee of $0.55
 Visit SiteVisit Site

Coinbase: Pricing information from published website as of 04/13/2021.

Coinbase charges relatively high fees compared to other exchanges. At the very least, you will need to pay the transaction fee and the spread for every purchase or sale, with further fees incurred for various methods of purchase.

While eToro has a higher spread than Coinbase does, it only charges on purchases, effectively halving it if you choose to sell. Plus, there is no transaction fee, and most purchase methods are free, meaning the spread is often the only fee you'll pay.

Find a full list of their variable spreads here.

Security

Coinbase employs a number of features to keep your coins secure:

  • Insurance
    Independent insurance for coins lost to cybersecurity breaches or employee theft, up to $250,000

    USD balances up to $250,000 are FDIC insured

  • Cold Storage
    97% of user funds are stored offline

  • Two-Factor Authentication
    SMS or Google Authenticator

  • Address Allowlisting
    Choose which wallet addresses you will allow to withdraw funds

  • Biometric Login

It's worth noting that Coinbase does not prioritize user privacy, and according to publicly available records, they have made or attempted to make arrangements to sell user data to the U.S. Secret Service, IRS, and DEA.

eToro has the following security features:

  • Insurance
    $1m investment insurance for clients of eToro Europe, UK, and Australia

    USD balances FDIC insured up to $250k

  • Two-Factor Authentication
    SMS

  • Secure Socket Layer (SSL) Encryption
    To protect transactions and personal information

  • Cold Storage

Ease of Use

If you're just getting started trading crypto, Coinbase is a bit easier to use than eToro and is fairly intuitive. They really nailed the user-friendly design when it comes to their app and desktop site, and there's a reason that a large portion of new traders start with Coinbase.

That isn't to say that eToro is difficult to use, it just takes a little more getting used to. eToro arguably provides more information for each asset, which can make their interface feel a little overwhelming at first. However, given some time to get used to it, it's quite user-friendly as well.

Looking for more Coinbase alternatives? Take a look at the exchanges in our round-up to find the best fit for you and your financial goals.

Customer Service

eToro
To contact eToro customer service, visit their Customer Service page, where you can open a ticket as a new or existing user or access live chat.

Due to a high volume of requests, they recommend checking their Help Center for answers to your questions, as responses to support tickets can take up to 14 days.

Coinbase
Coinbase doesn't currently offer phone support, but you can contact them through their website at help.coinbase.com, or through the "Contact Us" button at the bottom of the page.

Bottom Line

Ultimately there is no definitive winner between eToro and Coinbase. Which platform you choose depends on what your priorities are.

If you are a complete beginner and are easily overwhelmed, stick with Coinbase. You are their target audience. They have a wide range of currencies and offer useful resources for learning.

Just remember that the ease of use comes at a price, and that you'll probably save money in the long run by using eToro, especially if you're only interested in trading a limited number of popular coins.

eToro has much less variety than Coinbase, but they do have most of the major cryptocurrencies. Plus, if you want to take a more hands-off approach, their copy trading feature can be very valuable.

The two platforms are comparable in terms of security, but those who value privacy should look elsewhere than Coinbase.

References

  1. ^ eToro Supported Coins: eToro, 2021.
  2. ^ Coinbase Supported Coins: Coinbase, 2021.
eToro

Trade Popular Cryptocurrencies

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Coinbase

Earn $5 in bitcoin for getting started on Coinbase

Personalized $5 reward offer is displayed after account creation. Limited time offer and while supplies last. Offer available to new users who have not previously verified their identification. Offer not available to new users who were referred to Coinbase through the Referral Program or who have previously opened an account using different contact information. Coinbase may update the conditions for eligibility at any time, in its sole discretion. See Terms and Conditions.

BlockFi

Get Up to $250 in Bonus BTC

DepositCrypto Bonus
$100 - $1,499$15
$1,500 - $19,999$20
$20,000 - $39,999$40
$40,000 - $74,999$75
$75,000 - $99,999$100
$100,000+$250

Jeremy Harshman is a protector of art and writing at CreditDonkey, a crypto comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

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