eToro vs. Coinbase: Which Platform is Best in 2024?

Thomas Musgrave
Last updated: | 16 min read
etoro vs coinbase

Coinbase and eToro are two of the most well-known trading platforms around today, each with millions of customers. Both platforms have their strengths and weaknesses. We looked at a wide range of factors, including ease of use, features offered, fees, and available assets, to see which trading platform would be the best in 2024.

Both platforms benefit beginners and experienced traders, but one crypto platform emerged as number one. This guide will dive deep into each platform and compare eToro vs Coinbase on various aspects to help you choose the right crypto trading platform for you.

eToro vs. Coinbase: Who is The Winner?


eToro is an easier platform to navigate and provides a wide range of resources, including educational resources, demo trading and real-time charts on the chosen crypto with posts underneath.

eToro how to buy page
eToro website

eToro offers a streamlined trading option, and its copy trading feature lets investors replicate other users’ trades. On top of this, their copy tool allows investors to replicate other investors’ trades in their portfolios.

However, Coinbase is still an excellent platform to use for trading, especially for beginners. This is due to the handful of educational courses to help new users navigate and learn to trade assets. On top of this, it displays detailed charts for each crypto and the current market price.

eToro vs. Coinbase Features Compared


Both of these trading platforms have a variety of features that are useful to different investors, offering a wide range of cryptocurrencies, buy, sell, and swap features, as well as a fiat wallet to hold assets. Explore some of eToro vs Coinbase key features in the box below:

Key Features Coinbase eToro
Security 2 factor- authentication

Biometric authiencation

Insurance protection Account activity monitoring

SSL account encryption

2 factor-authentication

Offline storage for coins

Monitoring tools for account activity

SSL account encryption

Strong password creation

Cryptos  250+ 21+
Use fiat wallet  Yes Yes
Features and 

trading tools

Interest in USDC, charts, ETH staking Copy Trading, Charts, smart portfolios
Minimum deposit   $1.99 $10
Fee to buy crypto    $3.84 fee to buy $100

$0.60 to buy $100 with a limit order on Coinbase Advanced

$1 to buy $100
Fee structure Variable: 0.6% maker fee

Coinbase Advance: 0.8% maker fee.

1% buying or selling crypto
Demo account  Not available $100,000 in demo funds

What are eToro and Coinbase?


Investing in cryptocurrencies has become easier throughout the years thanks to user-friendly platforms like eToro and Coinbase. Coinbase offers a wide range of cryptocurrencies targeting crypto investors, whilst eToro offers a wide range of asset classes, including crypto and commodities.

eToro Overview

eToro provides a variety of crypto assets, commodities, stocks, currencies, and EFTs on their investment platforms. The platform is available on the website and the mobile app. With the tools and in-depth analysis eToro uses, it allows its clients to research and investigate a wide variety of assets.

eToro Money Wallet

One of eToro’s well-known features is the Copy Trader. This copying tool can replicate other investors’ trades into their own. This can be done by selecting an investor’s profile, clicking the copy button on their profile, inputting the amount of money to trade, and choosing whether to copy all their previous trades or just the new ones.

In addition to this, the eToro money app allows users to hold a debit card, which can be used to receive and send bank transfers as well as deposit and withdraw from the eToro investment platform.

Coinbase Overview

Coinbase is a safe platform for buying, selling, trading, and keeping cryptocurrencies in a wallet. It supports a variety of cryptocurrencies, such as Bitcoin, Tether, and Chainlink. Buyers can swap between almost 600 trading pairs.

coinbase homepage

Coinbase has an easy-to-use reading interface where investors can trade over 300 cryptocurrencies. On top of this, the platform also has robust security features in place, including SSL account encryption, 2-factor authentication, and offline and online storage.

 

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

eToro vs. Coinbase: User Experience


When it comes to the overall user experience, it’s important to consider the variety of features the platform has to offer. This can include customer service, how easy it is to navigate the website, the range of assets, and the tools the platform provides. So, let’s explore the UX of both eToro and Coinbase.

Best UX Winner: eToro

eToro has one of the best user experiences among any platform and exchange. eToro has made it easy to navigate, with a clear display of all the options a user can choose alongside a convenient search bar.

Upon scrolling down on the homepage, investors can find posts of any news in the crypto market as well as general comments. This includes events taking place in the crypto market. The search bar is used as a shortcut for answers. For instance, searching Bitcoin will present users with a Bitcoin page.

For each asset, eToro provides detailed price information as well as a social feature where users can discuss the asset and copy other investors’ trades.

On these posts, other investors can comment and express their opinions on the asset. The trading feature is simple to use, only requiring the chosen exchange amount.

According to Trustpilot, eToro has gained an overall rating of 4.3 stars, with 64% of votes being 5 stars. Many of the reviews mention how helpful the members of staff are, providing advice on trades. eToro made sure to reply to these comments, leaving friendly feedback and giving praise to their members of staff.

Coinbase User Experience

On the positive side, Coinbase provides a free and easy-to-use platform, which allows buyers to easily analyze trends in the market and monitor a wide range of cryptocurrencies, including Bitcoin, Tether, Binance, and Ethereum. Each row displays their current market trend, price, market cap, and trade feature.

Each asset has a dedicated page with a detailed price history and chart showing current and previous trend lines. Near the top right corner, different periods can be selected to show the previous trend of that crypto.

Based on Trustpilot, users have voted Coinbase 1.5 stars out of 5, with 79% of reviews being 1 star. Many comments mention the poor customer service and the high fees.

Security Measures Compared


It’s vital to have top-of-the-line security when it comes to cryptocurrency and other assets, as it’s a prime target for hackers. To compare Coinbase vs eToro security, Coinbase provides better security due to the range of features it has in place.

Best Security Winner: Coinbase

The security measures between eToro vs Coinbase have a clear winner: Coinbase. It has a variety of security features, including 2-factor authentication, password management, enhanced account protection, lock my account, and proactive security notification. It’s even recently integrated Blockaid to provide proactive alerts about potentially malicious transactions.

Coinbase states that it carries crime insurance that protects a portion of digital assets. For non-US customers, assets are stored in a committed custodial account. These custodial accounts are held separately from Coinbase funds, meaning that Coinbase or any other corporation will not use these funds.

Coinbase has FDIC insurance; however, this applies to cash, not crypto, meaning that the total amount Coinbase will cover is up to $250,000 dollars per customer.

However, despite protection over fiat funds, it doesn’t cover loss of credentials, resulting in unauthorized access to Coinbase or Coinbase pro accounts. This means it’s the user’s responsibility to keep their login credentials safe and preferably not stored online.

eToro Security Features

eToro includes two-factor authentication, SSL encryption for the account, strong password creation, and online and offline storage. They also include a process known as “hardening” which is used for encrypting user data and app activity.

Legally eToro isn’t authorized to use clients’ funds, meaning in the unlikely event of insolvency, the funds will be covered entirely.

In the UK, the FSCS covers eToro customers up to £85,000. In the USA, compensation up to the maximum amount of $85,000 is guaranteed by the SIPC. However, these compensations don’t apply to cryptocurrencies as they’re unregulated.

eToro is continually updating and developing features to help identify security breaches, whether it’s hacking or scam links. Their verification process is extremely thorough, only allowing legitimate users onto the platform.

 

eToro vs. Coinbase: Supported Cryptocurrencies


A wide range of cryptocurrencies on one platform is great for users who would like to trade more than one crypto at the same time. Having all these cryptos available in real-time is essential to be first in line for new crypto or any news updates on recent funding or bullish trends in the market.

In the debate of eToro vs Coinbase, Coinbase is our top choice, and here’s why.

Most Cryptocurrencies Winner: Coinbase

Coinbase has one of the largest ranges of cryptocurrency options available in today’s market. With 260 cryptocurrencies available, it allows users to trade crypto to crypto easily and there are 478 trading pairs to choose from.

Cryptos Available on eToro

eToro, on the other hand, has a variety of assets, so they don’t focus primarily on crypto tokens. Despite this, they still have an impressive 21 cryptocurrencies to choose from, including Bitcoin and altcoins such as Shiba, Polygon, and Dogecoin.

A good feature eToro provides is a watchlist. This gathers data on the cryptocurrencies users will search for and create a watchlist featuring them. Users can keep a close on daily markets by adding what they want to see to their watchlist.

To find this, simply go to the left-hand side of the page, select “My Watchlist” and it will display all of the previously searched cryptos as well as the cryptos that have been added.

In addition to its watchlist, they have a discover option available, which displays the top biggest movers in the market prior 24 hours, successful trades other investors have made in crypto, and a feature to show the most popular cryptos.

Coinbase Fees vs. eToro Fee


Fees are an important consideration for any investor. Every platform has its exchange fees; however, some are cheaper than others. When looking at eToro fees vs Coinbase, we can see that eToro has a cheaper exchange rate. Here’s why:

Fee Structure Winner: eToro

eToro charges less in fees than Coinbase. eToro charges fees at various points of activity as follows:

  • Trading Fees: eToro charges a 1% fee for buying and selling crypto.
  • Non-trading Fees: This is linked to withdrawing money into the account. Withdrawing money from eToro requires a $5 fee, and the minimum amount that can be withdrawn is $30. For cryptoasset, eToro will charge a total of 2%. On top of this, they can charge users $10 for inactivity after 12 months.

Highest Fees: Coinbase Simple Trading

Coinbase fee structure is not transparent in general, and there can be hidden fees in the spread. Transaction and trading fees can reach anywhere from 0.5% to 4.5%. Fiat withdrawal fees can reach as high as $25. For Coinbase, this is their general fee structure:

  • 3.99% for credit card purchases
  • 1.49% for Coinbase wallet purchases 
  • 0.60% taker fees
  • 0.40% maker fees

However, this can add up for simple trading transactions when the spread is included. Coinbase fees can be quite high compared to eToro (1% of any amount deposited or withdrawn). However, the platform is trying to entice high-volume, professional traders with lower fee options.

Lowest Trading Fees: Coinbase Advanced

Using Coinbase Advanced is a great solution to the relatively high exchange rates on Coinbase. It doesn’t require a subscription fee, making it available to anyone to use.

Fees are estimated based on the current pricing tier the user is in before the trade. Advanced fees are 0.4% makers and 0.6% takers.

Coinbase advanced trade

Best Unique Features and Tools


Every platform comes with unique tools that can further progress traders in their trading journey. In particular, eToro has some unique features that separate it from other competition. Some of these features are explained below, with what they are and how they work.

Winner: Social Trading on eToro

eToro social trading feature shares ideas and insights with each other. Features of social trading include social news feeds under charts, the user’s eToro profile, the display of previous traders to other users, and eToro on the social media platform. This is a great way for beginners, even advanced traders, to learn new trading strategies from other traders.

Coinbase Unique Features

Coinbase has some unique features, especially for beginners. It has educational resources that are free of charge, allowing users to participate in courses and quizzes about crypto. Upon completion of these courses, small amounts of crypto can be rewarded.

Coinbase has hundreds of different crypto assets beyond Bitcoin and Ethereum. This gives more variety to traders. Their “earn” feature allows users to stake their crypto to earn more. Their APY differs for each crypto, with USDC being 5.1% and Cosmos being 9.22%.

Geographical Availability


When it comes to attracting new traders, the usability of the platform in several countries is a big plus. Coinbase and eToro are high in the charts when it comes to their platforms operating in different countries, and below states how many they operate in

Coinbase

eToro

Coinbase offers a regulated and transparent platform for users in over 100 countries, including the UK, Singapore, Australia, Canada, and the US.  Being a popular social trading platform, it serves a widespread global presence, operating in 140 different countries such as Asia, Europe, North America, Oceania, and South America.

Note: For Coinbase users in the US, staking is only available in certain states.

Best Customer Support


How platforms support their customers is an important factor to consider. Below is an overview of eToro vs Coinbase customer support and which is better.

Customer Support Winner: eToro

eToro customer service team is available 24 hours a day over 5 days. On top of this, they operate in 21 different languages in both live chat and ticket systems. Both of these features can be accessed via a website or mobile app.

Users can access live chat for urgent issues. However, for any submission of screenshots or detailed information, submitting a ticket is the best option. Response times for both of these is around 7 days.

eToro offers a variety of helpful resources for beginners and those trying to find out more about eToro, including the eToro Academy, news articles, and different podcasts.

There are further resources that dive into more depth about managing your account, advanced features, and the legal side of eToro.

eToro maintains profiles on major social media platforms such as X, Facebook, LinkedIn, and Instagram. They are responsive on all these platforms, taking care of any problems or questions.

Coinbase Customer Support Reviewed

Coinbase customer support is available 24/7, this includes over-the-phone support and live chat. Top searches are available to look at, as well as help by topic which are great tools for helping users.

Coinbase has a learning feature where users can earn crypto as a reward for reading various educational resources.

Coinbase has several social media platforms that allow users to contact customer service. Some of these websites include TikTok, Instagram, Facebook, Snapchat and Telegram.

Wallet Options Compared


Using a crypto wallet is necessary for trading cryptos and storing funds. Every user wants to have a secured wallet that is easy to navigate and preferably has backup features.

Best Wallet Winner: Coinbase Wallet

Coinbase Wallet allows one to store, manage, and interact with various cryptocurrencies, including NFT (non-fungible tokens) on one app. It provides the most user-friendly experience for users. Managing a Coinbase wallet is simple, as everything you need is displayed on one page.

Additional security features are available on the device that is used, protecting passwords and account funds.

eToro Wallet Overview

The eToro money wallet has been created for trading and can be accessed through the mobile app or website. The layout is simple but easy to navigate, making it a good wallet for beginners.

To transfer funds, users will need to use the eToro app. Transferring funds to the wallet is a simple process. Log in to the app with the same username and password details as the website account, and from here, simply deposit the amount of funds into the account.

Which Platform is Best for You?


Both of these platforms have great resources for beginners and advanced users. They cover educational resources, fiat wallets, real-time charts, and trade options.

But for users who desire to develop a well-diversified portfolio for stocks, cryptos, EFTs, and commodities, eToro may be a better choice.

However, users looking for a fully immersive crypto experience might want to opt for Coinbase. This is due to the wide selection of cryptos available to choose from and the advanced trading options. Coinbase Pro accounts are a great addition for users who want lower trading fees, as Coinbase fees can be quite high.

Conclusion


eToro offers a wider variety of assets, as well as lower exchange fees. It’s based in more countries, which attracts a wider audience, and the customer service provides 21 different languages to help their customers. Coinbase offers features such as earning small amounts of crypto whilst learning, 24/7 phone call assistance, and an easy-to-navigate wallet.

Overall, we found eToro to be the suitable choice as it covers a range of trading features and lower fees while still being suitable for beginners.

 

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

References

  1. Israeli startup helped save Coinbase users over $75 million from being stolen in five months (calcalistech.com)
  2. Coinbase Global Woos Professional Traders with Lower Fees (wsj.com)
  3. Stakes Done? Coinbase Pressured To Halt Earnings Program In 4 States (forbes.com)

FAQs


Should I use Coinbase or eToro?

eToro is a much more suited platform with its variety of assets, a copy trader feature, a fake chart to practice on, low fees, social trading features, and a watchlist to add to.

What are eToro fees like compared to Coinbase?

eToro’s fees are much lower than Coinbase’s, charging only a 1% exchange fee. To exchange £10 worth of assets, Coinbase will charge as much as £1.99.

Is eToro better than Coinbase Pro?

eToro is best suited for those who value social trading, hands-off investment options, and diverse asset choices. Coinbase Pro is better served for crypto-only traders seeking simplicity and a wide selection of supported cryptocurrencies.

Is Coinbase or eToro better for beginners?

Coinbase has educational resources that allow users to earn small amounts of crypto, as well as being easy to navigate. eToro is still good for beginners, but first, they are required to pass a knowledge test, so having some understanding of crypto beforehand is recommended.

Is eToro a good place to buy crypto?

eToro is a good platform to trade cryptocurrencies on, offering over 85 different cryptos and the option to copy-trade other users’ crypto trades.

What is the downside to eToro?

While fees are generally low on eToro,  withdrawals have a flat fee of £3.85 ($5), and it charges $10 every month for inactivity.