Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    7. Coinsquare vs Coinbase:...

    Coinsquare vs Coinbase: Fees, Features and more

    Coinsquare Review
    3.0
    3/5

    Read Disclaimer

    Coinbase Review
    4.0
    4/5

    In this article, we compare Coinsquare vs Coinbase. We analyzed each platform’s payment methods, crypto suite, fees, security features, and much more. To make our decision we carried out extensive research on each crypto exchange and got a first-hand experience with both platforms.

    Coinsquare vs. Coinbase: Verdict

    Our pick is Coinbase as the overall winner.

    Coinsquare Logo

    Pros

    Cons

    Coinbase Logo

    Pros

    Cons

    Coinaquare vs. Coinbase: Unique Features

    Coinsquare Unique Features

    Coinsquare Wealth

    Coinsquare Wealth

    Coinsquare Wealth is a digital asset trading platform that enables users to trade a solid number of cryptocurrencies quickly and effectively. Wealth users can make direct coin-to-coin trades between over 40 coins with more than 820 pairs options. All these can be done through the OTC desk without converting to fiat currency first. 

    Coinsquare Wealth is only available to qualified institutions and individuals who have a minimum of $25,000 or its equivalent in digital currency. 

    Every Coinsquare Wealth user gets a dedicated wealth director who will help the user set up and manage their Coinsquare account. The wealth director also guides the user on how to navigate every aspect of the crypto market. Wealth Directors do not provide investment advice to users.

    Coinsquare Pro

    Coinsquare Pro enables active traders to make advanced trades, interact with a live order book, view depth charts, and set advanced fill instructions. Users can use the enhanced trading logs to see exactly how their orders have been filled and the prices they were filled at.

    They can also use Coinsquare Pro for free without any spread or trading fees for a limited time.

    Coinbase Unique Features

    Coinbase Advanced Trade

    Coinbase homepage

    Coinbase Advanced Trade is a separate advanced trading platform created by Coinbase that is designed for advanced users. It provides traders with advanced tools like advanced order types, and interactive charts powered by TradingView

    Users also have access to other Coinbase features like staking, dApp wallet, Borrowing, and Debit card. Advanced Trade users can securely buy, sell and trade digital assets across over 350 market pairs. They can also earn 5% APY rewards on their DAI, ALGO, ETH2, USDC, ATOM, and XTZ.

    Coinbase Card

    The Coinbase Card is a prepaid Visa card that enables the cardholder to spend cryptocurrencies directly from his Coinbase account balance. The card is accepted by the over 40 million merchants worldwide that accept Visa cards. 

    Cardholders can earn and stack crypto rewards in their crypto wallet for every purchase they make using the Coinbase card. Coinbase users are not required to undergo any credit check or additional requirements to be able to stake their crypto assets to be eligible for the card. Users are not charged any spending fees or annual fees for using the card.

    Winner in Unique Features

    Coinbase wins in features. Among the 2 cryptocurrency exchanges, Coinbase has more features that cater to both beginners and advanced traders.

    Cryptocurrencies Available

    Cryptocurrencies Available on Coinsquare 

    Coinsquare supports over 40 cryptocurrencies including DOGE, BTC, ETH, DASH, BCH, FTL, ENJ, EOS, MANA, DASH, DAI, CRV, LTC, etc. Coinsquare also offers over 820 trading pairs. 

    Cryptocurrencies Available on Coinbase 

    Coinbase supports more than 150 cryptocurrencies. Customers can trade BTC and other digital currencies like; ETH, AVAX, SOL, ADA, USDC, DOGE, MATIC, APE, GODS, GST, GALA, and USDT.

    Winner in Crypto Availability

    Coinbase wins in crypto availability. While Coinbase supports more than 150 cryptocurrencies, Coinsquare supports just a little over 40.

    Can You Buy and Sell NFTs on Coinbase?

    Coinbase NFTs Marketplace

    Yes, you can buy and sell NFT on Coinbase via Coinbase NFT. The platform also features drops, which allow you to buy the newest NFTs as they are released for the first time to the market.

    Winner in NFTs Availability

    Coinbase is the winner in NFTs availability as Coinsquare does not offer NFTs.

    Fees

    Coinsquare Fees

    Coinsquare uses the maker-and-taker fee model.

    Pricing Tier: Up to $10K 

    • Taker Fee: 0.50% 
    • Maker Fee: 0.50%

    Pricing Tier: $10K – $25K 

    • Taker Fee: 0.40%
    • Maker Fee: 0.35%

    Pricing Tier: $25K – $50K

    • Taker Fee: 0.35%
    • Maker Fee: 0.35%

    Pricing Tier: $50K – $100K

    • Taker Fee: 0.25%
    • Maker Fee: 0.17%

    Pricing Tier: $100K – $250K

    • Taker Fee: 0.25%
    • Maker Fee: 0.15%

    Pricing Tier: $250K – $1M

    • Taker Fee: 0.20%
    • Maker Fee: 0.12%

    Pricing Tier: $1M – $5M

    • Taker Fee: 0.17%
    • Maker Fee: 0.10%

    Pricing Tier: $5M – $20M

    • Taker Fee: 0.15%
    • Maker Fee: 0.08%

    Pricing Tier: $20M+

    • Taker Fee: 0.14%
    • Maker Fee: 0.05%

    Deposit and Withdrawal Fees

    Deposits on Coinsquare cost 0% in fees for Interac e-transfer and wire transfer. Withdrawals cost 0% in fees for Interac e-transfer. But for direct bank deposits and wire transfer withdrawals, Coinsquare charges 1.5% in fees.

    Coinbase Fees

    Coinbase also uses the taker and maker fee model that’s based on pricing tiers:

    Pricing Tier: $0 – $10K

    • Taker Fee: 0.60%
    • Maker Fee: 0.40%

    Pricing Tier: $10K – $50K

    • Taker Fee: 0.40%
    • Maker Fee: 0.25%

    Pricing Tier: $50K – $100K

    • Taker Fee: 0.25%
    • Maker Fee: 0.15%

    Pricing Tier: $100K – $1M

    • Taker Fee: 0.20%
    • Maker Fee: 0.10%

    Pricing Tier: $1M – $15M

    • Taker Fee: 0.18%
    • Maker Fee:0.08%

    Pricing Tier: $15M – $75M

    • Taker Fee: 0.16%
    • Maker Fee: 0.06%

    Pricing Tier: $75M – $250M

    • Taker Fee: 0.12%
    • Maker Fee: 0.03%

    Pricing Tier: $250M – $400M

    • Taker Fee: 0.08%
    • Maker Fee: 0.00%

    Pricing Tier: $400M+

    • Taker Fee: 0.05%
    • Maker Fee: 0.00%

    Stable Pairs

    • Taker Fee: 0.001%
    • Maker Fee: 0.00%

    Fiat Deposit and Withdrawal Fees

    ACH

    • Deposit Fee: Free
    • Withdrawal Fee: Free

    Wire (USD)

    • Deposit Fee: $10
    • Withdrawal Fee: $25

    SEPA (EUR)

    • Deposit Fee: €0.15
    • Withdrawal Fee: €0.15

    Swift (GBP)

    • Deposit Fee: Free
    • Withdrawal Fee: GBP 1

    Winner in Fees

    Coinsquare offers lower taker and maker fees per pricing tier. However, Coinbase has higher pricing tiers with 0% maker fees. This puts Coinbase in the win when it comes to fees.

    Payment Methods

    Coinsquare Payment Methods

    Coinsquare offers 3 payment methods which include: Bank account wire, cryptocurrencies, and Interac e-transfer

    Coinbase Payment Methods

    Coinbase offers 2 payment methods for Canadians; Debit Card and PayPal.

    Winner in Payment Methods

    Coinsquare is the winner here as it offers more payment methods than Coinbase.

    Coinsquare vs. Coinbase: Security

    Coinsquare Security

    Coinsquare Security Features

    Coinsquare users’ accounts are protected by two-factor authentication. The platform also has an anti-money laundering and anti-terrorist financing program which has been reviewed by an independent third party. 

    Coinsquare also holds all client’s assets with licensed external custodians. These custodians Tetra Trust Company and Coinbase Custody both have USD 430M in insurance. 

    The cash in each client’s account is also insured against insolvency by the Canadian Investment Protection Fund. If this digital asset company becomes insolvent, CIPF will compensate each user with up to CAD 1 million for any shortfall of cash in the user’s account. 

    Coinsquare also stores more than 95% of its funds in cold storage.

    Coinbase Security

    Coinbase holds 98% of customers’ assets offline in a secure crypto wallet while FDIC insures the cash balance in Coinbase users’ accounts with up to a maximum of $250,000 per customer

    Coinbase uses state-of-the-art encryption and security features like auto-enrolled 2-Factor Authentication, storing digital assets in the Coinbase Vault, multi-approval withdrawals in Coinbase Vault, and password protection.

    Winner in Security

    Coinbase wins in security. While these 2 cryptocurrency exchanges have both been hacked in the past with users' funds being stolen, Coinsquare has suffered more at the hands of hackers.

    Earn/Staking Rewards

    Coinbase Earn/Staking Rewards

    Coinbase offers staking services via Coinbase Earn at up to 5.75% APY on crypto assets. The interest is paid directly to the user’s crypto wallet. The crypto exchange also offers DeFi yield as part of its earn program. You can start earning on the crypto equivalent of $1. The platform also allows you to opt out whenever you choose as well. So there are no lockup periods enforced by Coinbase.

    Winner in Earn/Staking Rewards

    Coinbase is the winner in staking rewards as Coinsquare does not offer any staking or earn services.

    Usability

    Coinsquare Usability

    Coinsquare was made for newbie crypto investors. The crypto exchange focuses on offering beginner investors a simple platform to start their crypto investment journey. Coinsquare offers most of the popular coins and tokens that new investors in the crypto space would be interested in. That said, the Coinsquare app is not considered the best crypto trading app as there are complaints about the platform’s mobile app shutting down frequently.

    Coinbase Usability

    This crypto exchange is one of the most beginner-friendly digital assets platforms globally in terms of signup, order placements, and navigation. You can buy cryptocurrencies in seconds using your debit card or PayPal and its user interface is simple to use. It also offers Coinbase Pro for more advanced users who want various charts and tools readily available. It also supports all major fiat currencies and over 150 cryptocurrencies.

    Winner in Usability

    Coinbase wins in usability as it is more beginner friendly, and supports more fiat currencies and payment methods making it easier and faster to buy crypto.

    Coinsquare vs. Coinbase: Customer Service

    Coinsquare Customer Service

    Coinsquare users can contact the customer support team via email or support ticket. There is also a live chat feature that enables users to get 24/7 support for their problems

    Coinsquare also has a help center that provides answers to frequently asked questions.

    Coinbase Customer service

    Coinbase users can contact the support team via live phone or chat support which enables users to chat with the Coinbase virtual assistant. A significant weakness of Coinbase customer support is that users find it difficult to get real human support.

    Winner in Customer Service

    Coinsquare wins in customer service when compared to Coinbase. Coinbase's customer support has been accused of neglecting customers even when the complaint had to do with hacking attacks and loss of funds.

    Conclusion: Final Verdict

    Coinsquare offers over 40 crypto assets and a beginner-friendly user experience but its security cons like the bad reputation of its executives, as well as, its support for only 1 fiat currency places the exchange at the losing end when compared to Coinbase. Coinbase supports over 150 cryptocurrencies, has a strong reputation, and offers more unique features than Coinsquare. This places Coinbase as the winner in this comparison.

    Overall Winner

    Coinbase wins with a 4/5 score.

    FAQ

    Most frequent questions and answers

    Yes, Coinsquare is Canada’s first digital asset company still in operation.

    Coinsquare launched a new app called Quick Trade to enable investors to trade digital assets easier and faster.

    No, at the moment Coinsquare only works in Canada.

    Virgile Rostand is the founder of Coinsquare. However, the current CEO is Martin Piszel.

    Yes, you can buy Shib in Coinsquare.

    7 days, if your email, password, or 2-factor authentication was disabled. If not, withdrawals are instant.

    Coinsquare Wealth is a personalized service for investors looking to fill large orders.

    Yes, you can buy Bitcoin on Coinsquare

    You can trade Bitcoin Cash and other digital currencies on Coinsquare. You can also convert Bitcoin cash to CAD on the platform.

    You can buy over 40 cryptocurrencies.

    Coinsquare is a good exchange for beginners but not for seasoned traders looking for an advanced platform.

    An ECOS is a mining infrastructure with a cryptocurrency investment platform that offers crypto portfolio management tools, crypto wallets, cryptocurrency exchange, and crypto savings accounts.

    You can borrow up to $1,000,000 from Coinbase using your BTC as collateral.