Coinberry vs. Coinbase: Which One is Better in 2023?
In this article, we compare the two cryptocurrency exchanges Coinberry vs. Coinbase by considering the cryptocurrencies available on each platform, fees, security features, payment methods, and much more. To reach a conclusion we carried out extensive research on each platform and got first-hand experience with both platforms.
Coinberry vs. Coinbase: Verdict
Our pick as the overall winner is Coinbase because of its low fees in comparison to Coinberry and its many unique features.
Coinberry vs. Coinbase: Unique Features
Unique Features of Coinberry
1 – Coinberry Autopilot
Coinberry Autopilot is a Coinberry feature that enables users to set up automated cryptocurrency purchases on a daily, weekly, or monthly basis on their Coinberry account. Autopilot uses an investment strategy known as dollar-cost averaging.
Automating crypto assets purchases enables the user to invest in crypto regardless of the fluctuation in the market. Autopilot users can easily adjust their purchase amounts and frequencies whenever they wish to.
2 – Coinberry Pay
This is a payment processing solution that enables merchants to accept Bitcoin payments. Coinberry assigns a free and unique Coinberry Pay link to every Coinberry account. With this link, account holders can accept payments in any of coinberry’s supported digital currencies.
Cryptocurrency received through Coinberry Pay can be easily converted to CAD and deposited into the user’s bank account. Coinberry Pay can be used by charities, governments, businesses, municipalities, and individual traders.
Unique Features of Coinbase
1 – Coinbase Card
The Coinbase card is a prepaid Visa card linked to a user’s Coinbase account balance which allows them to spend cryptocurrencies. The card is accepted worldwide where visa debit cards are accepted.
The card holders can earn crypto back on every purchase they make using the card. The user can choose which crypto they earn from the list.
The card is secured with two-factor authentication, pin change, and card freezing. Users are also not charged any spending fees or annual fees for using the Coinbase card.
2 – Coinbase Pro
Coinbase Pro is a Coinbase cryptocurrency trading platform for Coinbase users who are interested in advanced crypto trading, lower fees, and additional features.
3 – Coinbase Earn
Coinbase Earn is a learning hub designed by Coinbase that is equipped with beginner’s guides covering different coins, uses of cryptocurrencies, and regular updates on the crypto market. Coinbase Earn rewards users who actively learn on Coinbase Earn.
Users who watch short videos and take quizzes about specific altcoins are rewarded with a small amount of that crypto. The altcoins received can be converted to major cryptocurrencies like Ethereum and Bitcoin.
Coinberry vs. Coinbase: Cryptocurrencies Available
Coinberry supports the trading of over 35 cryptocurrencies in CAD. Cryptocurrencies available for trade on Coinberry include BTC, ETH, AAVE, ADA, ALGO, AVAX, AXS, BAL, BAT, BCH, ATOM, COMP, CRV, DOGE, DOT, ENJ, FTM, GALA, FTT, KNC, LINK, LTC, LUNA, MANA, MATIC, USDC, UNI, ZEC, etc.
Coinbase supports more than 150 cryptocurrencies. This includes BTC, ETH, UNI, XLM, LINK, BCH, ETC, WBTC, MKR, LTC, ICP, ADA, ATOM, USDT, SHIB, DOT, SOL, etc.
Coinberry vs. Coinbase: Can You Buy and Sell NFTs?
You can buy and sell NFTs on Coinbase by visiting nft.coinbase.com. Coinbase NFT doesn’t just support the trading of NFTs in the marketplace but users can also carry out drops for new NFTs. The platform also has a featured creator segment that displays the top-performing creators.
Coinberry vs. Coinbase: Fees
Coinberry does not charge CAD withdrawal or deposit fees. However, if you intend to buy and sell Bitcoin and other cryptocurrencies using Coinberry they have a spread between 0% to 2.5% to the cryptocurrency rate offered by their liquidity sources.
The price Coinbase shows before transaction confirmation includes their spreads and all fees charged by their liquidity sources. That said, while Coinberry discloses their estimated charge based on their spread, between when they quote a price and the time the order completes, actual fees and spreads may be higher due to market volatility.
Coinbase utilizes the maker-taker fee model to determine its trading fees. Here are their pricing tiers and taker and maker fees:
|Trading Volume||Taker Fee||Maker Fee|
|Tier 1||$0 - $10K||0.60%||0.40%|
|Tier 2||$10K - $50K||0.40%||0.25%|
|Tier 3||$50K - $100K||0.25%||0.15%|
|Tier 4||$100K - $1M||0.20%||0.10%|
|Tier 5||$1M - $15M||0.18%||0.08%|
|Tier 6||$15M - $75M||0.16%||0.06%|
|Tier 7||$75M - $250M||0.12%||0.03%|
|Tier 8||$250M - $400M||0.08%||0.00%|
Fiat Deposit and Withdrawal Fees
|Deposit Fee||Withdrawal Fee|
|Wire (USD)||USD 10||USD 25|
|SEPA (EUR)||EUR 0.15||EUR 0.15|
Coinberry vs. Coinbase: Payment Methods
Coinberry supports only 2 payment methods to fund your account: Interac e-Transfer and bank wire. Both payment methods are fee-free.
Coinbase also offers 2 payment methods for Canadian users; Debit Cards and PayPal. All options offer instant payments.
Coinberry vs. Coinbase: Security
Coinberry Security Features
Coinberry through Gemini offers 2-factor authentication for all accounts. It also has a biometrics login feature which can be turned on and off. Gemini also provides cold storage for storing crypto assets offline. This ensures that users’ assets are not easily accessible or prone to malicious attacks.
Coinberry is registered as a Money Service Business with the Financial Transactions and Reports Analysis Centre of Canada. This means that the company is compliant with all the rules laid out by the organization. It is also registered with the Ontario Securities Commission.
Coinbase Security Features
Coinbase stores 98% of its customers’ crypto assets offline in cold storage. Assets stored online are covered by FDIC insurance with a maximum amount of $250,000 per customer.
All Coinbase accounts are required to be secured by 2-factor authentication. Users can also whitelist withdrawal addresses to ensure that funds are not withdrawn to unapproved addresses.
Despite the security features put in place by Coinbase, in 2021, a vulnerability in its SMS account recovery tool enabled hackers to steal funds from more than 6,000 Coinbase users. Coinbase reimbursed the lost funds to the clients affected.
Coinberry vs. Coinbase: Earn/Staking Rewards
Coinberry does not offer a staking service. However, one of their products is Coinberry Earn which is an affiliate program that allows users to affiliate commissions for attracting users to sign up via their link.
With Coinbase Earn users can earn up to 5.75% APY on their crypto in staking rewards. Users can earn on as low as $1. All they need to do is hold their crypto in Coinbase Earn to start earning. Users also have the option of choosing from several assets and ways to earn like DeFi yield or staking. That said, while staking and DeFi yield is available in more than 70 countries, DeFi yield is not available to residents in the United States.
Coinberry vs. Coinbase: Usability
Coinberry has an average 5-minute signup. Once that’s done you can fund your account using Wire or Interac e-transfer. Then proceed to buy the crypto of your choice.
Coinbase offers a very beginner-friendly purchase process. However, its signup process is a bit longer than Coinberry. But it’s much faster and more straightforward to buy cryptocurrency on Coinbase (you can use your card).
Coinberry vs. Coinbase: Customer Service
Coinberry has a help center equipped with answers to the most frequently asked questions. It also has a live chat feature for all enquires.
If the help center and live chat don’t solve your problem, users can reach the Coinberry support team via phone or email.
Coinbase has a Support FAQ page where users can find answers to commonly asked questions. It also has a well-equipped library that provides users with the needed educational resources on cryptocurrencies.
It offers chat support, with the Coinbase virtual assistant. Coinbase users can also contact the Coinbase team via live phone support.
Despite all the communication channels made available by the platform, Coinbase users have complained of getting little or no help from the support team.
Conclusion: Final Verdict
Both Coinberry and Coinbase offer beginner-friendly platforms. However, Coinbase outshines Coinberry in so many areas like NFT availability, payment methods, usability, etc. This is primarily because Coinberry is a much smaller platform.
Coinbase is the overall winner with a score of 4 over 5.