Everyone seems to be getting the hint about crypto these days, and no one wants to miss out. Even though we’ll advise you not to FOMO.
Both Coinbase and Webull provide users with an easy way to buy cryptocurrency. However, the two platforms offer distinct differences in ease-of-use, security, fee schedule, customer support methods, and more.
What is a Crypto Exchange?
This is a platform that enables you to buy and sell cryptocurrencies. Crypto exchanges list either available coins or tokens that need to be sold before they can be traded. Trading pairs are also listed on exchanges, where traders can use one type of coin to purchase another, such as bitcoin for Litecoin.
There are hundreds of exchanges platforms from which users can buy cryptocurrencies from around the world. However, not all these sites offer various trading pairs or a broad range of services for users to trade or store their cryptocurrency holdings.
The Top Crypto Exchanges
We researched the top crypto exchanges to determine which sites are the best cryptocurrency exchanges available. In addition, we reviewed the following exchange platforms: Poloniex, Bittrex, Binance, Coinbase, KuCoin, Bitfinex, BitMEX, and Bitstamp.
While prices vary slightly among them, each of these sites has its strengths and weaknesses. Therefore, users should pay attention to these factors before deciding on an exchange that meets their needs.
One factor that will influence your choice is what coins are available for trading at each exchange. Some of the exchanges listed above have many coins listed, while others only list a few coins. Some exchanges may be new and not have many cryptocurrencies listed, making it harder for traders to find the coins they want.
In contrast, mature exchanges that have been around for a long time usually offer a wide selection of coins. For example, Coinbase only lists 11 of the over 1,300 different cryptocurrencies available at present on Poloniex. Bittrex offers more than 200 different cryptocurrencies for trading.
Another factor is what services each exchange offers to its users. For example, some sites offer users the ability to trade cryptocurrencies for fiat currencies, while others only allow users to store their crypto holdings. Some exchanges will let you deposit money into your account and then purchase cryptocurrencies using that money. Others require you to transfer cryptocurrency funds from an external account.
You need to take into consideration whether each exchange provides adequate security measures for its users. For example, you do not want your crypto holdings hacked by someone else because of a security vulnerability at the exchange site. Some traders use online wallets for storing their cryptocurrencies, but they can be susceptible to hacking attacks if the site is vulnerable to hackers.
When buying cryptocurrencies, find an exchange that provides you with the services you will need for trading and security protection. Coinbase is one of the most popular consumer exchanges for buying cryptocurrencies in the US, but it also has security issues that have left many users’ holdings vulnerable to theft. Other exchanges are not as widely used yet may be better choices if you are concerned about security.
What to look for when buying Crypto from an Exchange?
When buying Crypto, there are a few essential things to look for. These are the most common questions that will help determine whether an exchange is worth your time or not.
Security of your funds
All exchanges should have some form of security setup in place, such as 2-factor authentication, 24-hour support staff, and their wallets.
Respectful listing practices
No reputable exchange will list scam projects or anything with shoddy development. Avoid exchanges that list coins with shady ICOs.
Decent track record
If an exchange has been around for longer than 6 months, you can be sure they will most likely be around for the long haul. This is usually not true with all exchanges, but generally, exchanges with a history of more than 6 months are more reputable.
Fast deposit and withdrawal times
There is nothing more frustrating than waiting days to get your money into or out of an exchange. Keep in mind that most new exchanges taking on huge amounts of users for the first time will have slow processing times while they go through the growing pains of adding new servers and dealing with scaling issues.
- Trading pair options
Look for an exchange that offers good trading pairs (BTC, BCH, ETH). Trading pairs are a good indication that a coin isn’t going anywhere. You can’t trade Bitcoin several years from now for Bitcoin Cash.
If you live in a country that doesn’t have an exchange, consider using them. In some cases, markets could be better than the exchanges due to fewer trading fees and lower spreads.
What is the sign-up bonus for Webull?
Webull offers competitive trading bonuses for cryptocurrency trading – these are not offered by many other exchanges in the market today. Instead, Webull rewards new traders with $5 just for signing up using an email address – whether it be through the site’s homepage widget or in-app link (preferred). It is also possible to receive the sign-up bonus by visiting a link with a Webull referral code.
It is possible to deposit funds into your Webull account through a bank transfer or credit card. Regardless of which payment method you choose, the minimum deposit amount you may make is $10. None of these payments are required for Webull’s sign up bonus (and the minimum deposit does not need to match the bonus amount), but if you do a deposit of more than $10, your bonus will be increased by $5, up to a maximum bonus of $50. A minimum deposit of $50 also qualifies participants for an additional welcome offer.
|Pros of Coinbase
|Pros of Webull
|It’s the world’s most popular cryptocurrency site.
|No trading commissions
|You get fee discounts if you trade with your bank account.
|No account minimums
|There are no limits on how much BTC you can buy, unlike other exchanges.
|Trading options (stocks, ETFs, currencies, commodities)
|Offers 2-factor authentication to protect your account
|You get a free $10 worth of bitcoin when you sign up.
|Free updates on the newest stocks and ETFs
Pros of Webull
- No trading commissions
- No account minimums
- Trading options (stocks, ETFs, currencies, commodities)
- User-friendly interface
- Free updates on the newest stocks and ETFs
Cons of Webull
- You can’t get a quote for a new issue for the next day
- Data is delayed
- Some screens are not responsive
- Data downloading is slow
- No desktop app
- Not a many of technical indicators/analytics as the competition
- You cannot change your mind after you buy or sell a stock
- No fractional share
|Cons of Coinbase
|Cons of Webull
|Coinbase is a centralized company.
|You can’t get a quote for a new issue for the next day
|Coinbase has been hacked in the past and it’s not impossible for them to get hacked again.
|Data is delayed
|Coinbase charges a fee for every transaction.
|Some screens are not responsive
|Data downloading is slow
|Difficulty in transacting with altcoins.
|No desktop app
|No way to transfer Bitcoin to an offline wallet without the blockchain staying up-to-date.
|Not a many of technical indicators/analytics as the competition
|Fees are high for bigger trade amounts
|You cannot change your mind after you buy or sell a stock
What is the Sign-up bonus for Coinbase?
Coinbase offers $10 to all new accounts with a valid email address and identity verification. If you’re interested in using this site to either invest or trade, that would be an enticing bonus to take advantage of!
To get the offer, you’ll need to create an account on the website. From there, all you have to do is verify your email address and sign up for a Coinbase account! Once verified, your account will automatically receive the $10 in Bitcoin.
It’s simple enough, no one should have any problems getting this offer without too much effort or frustration involved. The limitation of the offer is that it is limited time, which means that the website might not have the offer open for you to take advantage of at all times.
You can also use “Coinbase Referrals” to get more cryptocurrency when you sign up.
Pros of Coinbase
- It’s the world’s most popular cryptocurrency site.
- You get fee discounts if you trade with your bank account.
- There are no limits on how much BTC you can buy, unlike other exchanges.
- Offers 2-factor authentication to protect your account from being hijacked by hackers or someone getting too close to your phone or laptop when you log in to use it.
- You get a free $10 worth of bitcoin when you sign up.
Cons of Coinbase
- Coinbase is a centralized company.
- Coinbase has been hacked in the past, and they can get hacked again.
- Coinbase charges a fee for every transaction.
- Inconsistent support.
- Difficulty in transacting with altcoins.
- No way to transfer Bitcoin to an offline wallet without the blockchain staying up-to-date.
- Fees are high for larger trade amounts.
Webull vs Coinbase — What is the Best Crypto Exchange?
|Limited Number of Coins
|Over 100 different currencies
|Available on both iOS and Android phones
|App-based design is simpler but only available on iOS
|0.25% transaction fee
|0.20% transaction fee
|No Phone Customer Service
|Offers a phone-based customer service
|2-factor authentication, wallet encryption and offline storage.
|2-factor authentication, wallet encryption and offline storage.
Webull is a new exchange that is trying to be the most prominent digital currency exchange in Asia. They’re based out of Taipei, Taiwan. They’re currently working TRON (TRX), though other coins will be added soon. The company name is an acronym for “Trade On the Web One”.
Throughout 2017, Webull has opened several trading markets for TRX, BTC, ETH, BNB, and DASH. The main difference between these markets and other exchanges is that they don’t require you to start with an account or fund it via bank transfer first. Instead, they allow you to trade immediately.
Coinbase is a US-based digital currency exchange that focuses on a software platform for merchants and consumers to convert digital currencies into fiat money. It supplies the ability to purchase goods and services from a growing list of merchants that accept digital currencies.
It’s a useful trading tool for more advanced traders because it acts as an exchange where you can trade cryptocurrencies against each other and trade them for fiat money.
Also, Coinbase has an app called Shift Card that allows users to connect their bank account or credit card directly to their Coinbase account so they can buy bitcoin easily at any VISA-enabled merchant. This is a huge advantage over other exchanges. Webull, on the other hand, currently does not have a mobile platform.