eToro vs. Coinbase — Which Is Best in 2024?

eToro and Coinbase are two comprehensive crypto trading platforms. They offer several similar features but are also quite different, especially considering that eToro is primarily a multi-asset broker, where crypto is just one part of the bigger picture.

The two are still comparable, and it’s worth studying where they differ or operate similarly, and especially which is better.

That’s where this comprehensive eToro vs. Coinbase comparison guide comes in, exploring both platforms’ strong and weak points.

How Many Cryptos Can You Trade on eToro & Coinbase?

• eToro: 8/10
• Coinbase: 9/10

The eToro vs. Coinbase war revealed a clear winner in this battle, and it’s Coinbase. That’s simply because this popular exchange supports more cryptocurrencies — at least 260, while eToro lists just over 110.

Even though Coinbase’s number is double that of eToro’s, the two are still on relatively even ground as both platforms cover the major coins like Bitcoin, Ethereum, Solana, BNB, XRP, Dogecoin, and Cardano.

Unfortunately, USDT is unavailable on eToro, which might be an issue for some investors. On the other hand, Coinbase doesn’t let you trade BNB, Tron, and Monero. Keep in mind that Coinbase lists over 17,000 coins, but only around 260 of these can be traded on the platform.

It’s worth adding US customers cannot trade most cryptos on eToro, as the company recently agreed to stop nearly all crypto trading after a settlement with the SEC in September 2024.

eToro Fees vs. Coinbase Fees

• eToro: 9/10
• Coinbase: 8/10

eToro and Coinbase operate with very different fee structures. Like most other crypto platforms, Coinbase uses a standard maker/taker fee structure, while eToro charges a simple and, more importantly, fixed fee for buying and selling crypto.

Coinbase’s model leads to lower fees, as takers pay between 0.05% and 0.6%, depending on their monthly net trade amounts, while eToro charges a 1% fee on every trade.

Coinbase’s pricing is thus more competitive at first glance, but it falls short once you account for the various other fees you have to pay and the high spreads. The fees on Coinbase are among the highest in the crypto trading sector, which is one of the main reasons various traders are looking for the best Coinbase alternatives.

More importantly, depositing and withdrawing are often more expensive on Coinbase than on eToro. Depositing is free on eToro, while Coinbase charges a $10 fee for wire transfers and a €0.15 fee on SEPA transfers. ACH and swift deposits are free.

All withdrawals come with a fixed $5 fee on eToro, while Coinbase charges $25 for wire transfers and £1 for swift withdrawals. ACH and SEPA are free.

Conversion fees are levied on both platforms, but the pricing is complex and differs for various transactions, meaning there’s no clear winner.

Analysis, Tools & Features

• eToro: 9/10
• Coinbase: 7/10

Both eToro and Coinbase offer retail clients a comprehensive suite of features and services.

eToro focuses on diverse trading instruments beyond crypto, social trading, copy trading, smart portfolios, and demo accounts. Coinbase is primarily a crypto exchange with advanced trading tools, many staking options, and Web3 capabilities.

1. Staking

Staking exists on both platforms, but it’s much better on Coinbase for the sheer number of coins you can stake and typically good APYs. Coinbase lets you stake 150 cryptocurrencies, while eToro supports only four.

Coinbase tends to offer single-digit APYs, typically between 1% and 8% on popular coins, but it does feature some notable standouts. For instance, you can earn 12.36% staking Polkadot, 13.89% from Cosmos, and 20.43% from Terra.

The available cryptos on eToro, ETH, SOL, ADA, and TRX, all come with variable APYs of around 6%. Still, they can go up considerably depending on the network conditions and your club membership.

Speaking of the membership, the higher your tier, the more of the staking rewards you’ll keep, with Diamond members retaining 90% on all coins. This is far better than Coinbase, where the platform keeps 26.3% of the rewards from Coinbase One members.

If you want more options, check out our list of the best crypto staking platforms.

2. Derivatives

You’ll find derivative trading on both exchanges, but the two focus on distinct forms of derivatives. eToro specializes in CFDs, while Coinbase focuses on crypto futures.

The choices on eToro are much broader as it offers Contract for Difference (CFDs) on crypto, stocks, indices, forex, and commodities. At the same time, Coinbase only offers Bitcoin and Ethereum perpetual futures contracts.

3. Copy Trading

Copy trading is a neat feature ideal for beginners since it lets them copy trades from pro traders and gain insights from what the experts are doing. This is something eToro is renowned for as one of the best copy trading platforms on the market, while Coinbase doesn’t deliver any copy trading functionalities.

eToro includes the CopyTrader tool, which lets you automatically copy trades from others and seamlessly pick between investors based on their preferred assets, performance, and risk profile. Once you start copying investors, you can leave the tool to execute the trades automatically, while you can set stop loss orders to ensure you don’t suffer significant losses.

4. Smart Portfolios

Smart portfolios are another feature found only on eToro that complements copy trading. These portfolios are effectively baskets of assets with specific trading goals and targeting specific trading niches. You could compare them with smaller ETFs. You can easily copy any of these and start trading automatically.

5. Learning Rewards

Coinbase is equipped with a unique feature that rewards you for learning. In essence, you will watch lessons and complete quizzes to earn rewards in the form of crypto.

Learning Rewards is an excellent opportunity to learn something new and earn extra coins to boot. eToro does not offer a similar feature.

6. Demo Accounts

Demo accounts are a great way to try a trading platform without risking your own funds. Essentially, they work the same as real accounts, so you can place trades to see what happens, but without using real money. The feature is available on eToro and comes with $100,000 in virtual funds, but you won’t find it on Coinbase.

7. Wallet

Both platforms provide separate wallets for their users, and you can download either on your phone, with the Coinbase Wallet also working as a browser extension.

Overall, Coinbase’s wallet is better as it’s non-custodial, comes with a built-in dApp browser and DeFi support, and stores more cryptos than you can trade on the exchange. On the other hand, the eToro Money app is a simple custodial wallet primarily designed for storing crypto found on the eToro platform, and it doesn’t let you send crypto back to your trading account.

Coinbase vs. eToro User Experience

• eToro: 9/10
• Coinbase: 8/10

Good news for beginners: both eToro and Coinbase primarily target beginner traders. At the same time, they offer a good deal of features and tools that will appeal to more experienced traders.

The onboarding process is slow and long on both, but this is expected from highly regulated trading tools.

Both platforms are well organized, making navigation easy. However, eToro is slightly better in this regard, as its categories and sections are more intuitive. Plus, you can enjoy the same experience on mobile.

Trading on eToro is more straightforward; all you need to do is open up the page for the coin you want to buy and start trading. Every order comes with a fixed fee, and that’s it. On the other hand, Coinbase uses complex fee structures and deals with crypto pairs.

However, it’s worth noting that the rest of eToro might be a bit tougher to grasp for beginners, as it requires financial trading knowledge.

Mobile Trading Apps

• eToro: 8/10
• Coinbase: 7/10

Coinbase and eToro offer dedicated mobile apps for both iOS and Android devices, and both look much like their desktop counterparts. However, eToro does a slightly better job in this regard, owing to its minimalist design.

eToro’s app is quite fast on either operating system and offers the same features as the web-based platform. More than that, the fees are the same, and so are the spreads.

The Coinbase app makes searching for trades easy and quick, but bear in mind that the fees might differ from those on the web platform. This is one of the few downsides found while testing the apps.

eToro’s downsides were more on the technical side, with many investors complaining about crashes, typically on the Android app.

Deposits & Withdrawals

• eToro: 8/10
• Coinbase: 8/10

eToro and Coinbase are comparable in terms of their payment systems. Both offer a wide range of options for depositing and withdrawing, including commonly used options like debit cards, PayPal, bank transfer, and Sofort.

Minimum transaction amounts differ significantly, and even internally, between payment methods. eToro imposes higher requirements for first-time depositors, which vary based on your country, while subsequent deposits often need to be $50 or higher. Coinbase makes things easier here, with a $10 minimum in most cases.

As for minimum withdrawals, on Coinbase, they’re usually subject to the requirements of the specific payment providers on offer. eToro, on the other hand, imposes a straightforward $30 minimum requirement across the board.

eToro generally processes deposits within seconds, while Coinbase tends to handle withdrawals much quicker — instantly or within a few days.

Customer Support

• eToro: 9/10
• Coinbase: 8/10

Customer support systems are robust on both platforms. You can contact agents on eToro via live chat, which operates around the clock from Monday to Friday, and by email. Coinbase offers support via 24/7 live chat and phone, mainly in the US (1-888-908–7930) and the UK (+44 808 168 4635).

Both platforms are reasonably quick to respond via live chat, while eToro usually answers tickets and emails in one or two business days. Coinbase is reportedly harder to reach, at least judging by the many user reviews and feedback on sites like Trustpilot.

Licensing & Security

• eToro: 9/10
• Coinbase: 9/10

Both eToro and Coinbase are among the safest and most well-regulated trading platforms on the planet. With both operating in the US, it’s good to know that they offer FDIC insurance covering balances of up to $250,000.

The two companies hold licenses in the US and the UK, while eToro also holds many more in other regions, including the Middle East and Europe.

eToro holds your assets in both hot and cold storage, while Coinbase claims to keep as much as 98% of assets in cold storage. However, eToro partners with reputable banks like J.P. Morgan, Deutsche Bank, and UBP to store fiat funds so investors can rest easy.

As for account security, both platforms offer added security features like 2FA and biometric authentication.

Conclusion

During this eToro vs. Coinbase comparison, it was easy to grasp the overall quality of both platforms.

The two share many similarities, like similar crypto trading features, staking, and advanced trading tools. However, they are still quite different, especially considering that eToro offers a lot more than just crypto trading, such as stocks, commodities, indices, and forex.

When it comes to trading and transaction fees, Coinbase comes with more supported cryptos and lower trading fees, but eToro’s pricing is much more straightforward; it sports more advanced trading features and excels at derivatives trading. Moreover, eToro offers copy trading tools, smart portfolios, and demo accounts, none of which are found on Coinbase. Overall, eToro is the better choice.

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