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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    Coinhako vs. Coinbase: Which is the best in 2023?

    Coinhako Review
    1.6
    1.6/5

    Read Disclaimer

    Coinbase Singapore review
    1.6
    1.6/5

    The Coinhako and Coinbase cryptocurrency exchanges aim to provide a seamless digital asset trading experience for investors in Singapore. Coinhako offers lower fees but lacks a large crypto library, which is where Coinbase excels.

    In this Coinhako vs. Coinbase comparison, we analyzed both platforms to determine their strengths and weaknesses in terms of fees, platform features and customer service.

    Coinhako vs. Coinbase: Verdict

    Coinbase is the overall winner because of its extensive crypto lineup and library of products and services. Also, all coins are tradeable and transferrable, making it easy for users to trade their favourite assets without restrictions.

    Pros

    Cons

    Pros

    Cons

    Coinhako vs. Coinbase: Unique features

    Users can purchase digital assets, sell them, and swap them on both exchanges. Both crypto service providers operate in a similar way, but they also have some unique features that make them distinct.

    Coinhako Crypto Exchange

    Coinhako strives to provide a seamless trading experience for users in Asia, allowing them to buy, sell, and swap cryptocurrencies easily. The Singapore-based cryptocurrency exchange also offers its services for individuals, accredited investors, and a standalone over-the-counter (OTC) trading desk for high trading volume. This way, each investor segment gets a service that is unique to them. 

    With its staking service, investors can lock up their idle digital assets for a time to generate passive income. There is no stated fixed annual percent yield (APY), but investors can get on its Coinhako Earn. The platform supports over 13 crypto assets for staking.

    Coinbase cryptocurrency exchange

    The Coinbase platform, on the other hand, offers users a variety of features that are geared toward their needs. To begin with, Coinbase facilitates the purchase and sale of non-fungible tokens (NFTs) through its standalone marketplace. Users can easily mint, list, buy, and sell their favourite digital collectables. The Coinbase staking platform, Coinbase Earn, allows users to earn passive revenue from about nine proof-of-stake (PoS) protocols. Users get to earn a maximum APY of 5.75% on the platform.

    Since Coinbase was founded in 2012, Coinbase’s core mission has been to make it as easy as possible for anyone with basic computer skills to purchase crypto. To further aid the success of this mission, all Coinbase Learn crypto concepts are easy to understand and follow.

    The platform offers a separate trading service called Coinbase Pro for advanced crypto investors. This comes with more trading tools and lower trading fees.

    Winner in Unique Features

    Coinbase wins in the features category because of its more comprehensive service offerings.

    Coinhako vs. Coinbase: Cryptocurrencies Available

    The trading volume and liquidity determine the amount of cryptocurrency a service commands. Top crypto exchanges have a more extensive crypto lineup to meet the surging demands of their customers.

    Coinhako supports more than 65 cryptocurrencies, including, among others, Bitcoin, Ethereum, Cardano, Aave, and 1Inch. However, due to the exchange’s division of its cryptocurrency assets into three categories—full support tokens, trading-only tokens, and deposit-only tokens—Coinhako has substantial disadvantages. This restricts the trading experience for investors searching for a more complete service package.

    Coinbase is currently the leader in the crypto market for crypto support. The remote crypto exchange offers a staggering 9,500+ crypto assets, including Bitcoin, Ethereum, XRP, Binance Coin, Polkadot, and tons of others. The exchange also boasts a larger crypto trading volume than Coinhako.

    Winner in Crypto Availability

    Coinbase leads the way in terms of crypto availability and usability.

    Coinhako vs. Coinbase: Can You Buy and Sell NFTs?

    With regard to NFT support, Coinhako only enables the trading of NFT-focused tokens. There is no standalone service for direct access to the digital collectable ecosystem.

    Coinbase NFTs Marketplace

    Coinbase, on the other hand, has an NFT marketplace where users can mint, list, purchase, and sell virtual avatars and videos. Creators can reach out to their global audiences and promote airdrops from current holders of certain NFT collections.

    Winner in NFTs Availability

    Again, Coinbase outperforms its rival in terms of NFT availability.

    Coinhako vs. Coinbase: Fees

    Fees are a significant determinant of the exchange choice for investors. It is true that there is an industry average when it comes to crypto trading fees, however, there are several platforms that undercharge their clients for the intent of attracting more clients.

    Coinhako has since worked on this system, slashing its trading fee from 1% to 0.6% in May 2022. This cuts across both maker and taker fees, but there is no tiered fee system that reduces the trading fee based on the volume. Furthermore, the Singapore-based crypto exchange charges SDG $2 for direct bank account transfers.

    There are no deposit fees except for Xfers. The payment gateway charges 0.55% for SGD deposit; this is not paid to Coinhako directly but to Xfers. In addition, Coinhako charges $2 withdrawal fees for all bank transfers sent to a Singaporean bank account.

    Coinbase has a 0.5% to 5% trading fee. Crypto users can use a debit card, credit cards and e-wallet payment options to buy cryptocurrencies. However, a 3.99% fee is billed to all debit card transactions. Besides this, Coinbase charges another 1% withdrawal fees for fiat, excluding the network fee for validating such transactions.

    Winner in Fees

    Coinhako is the winner as it offers lower fees.

    Coinhako vs. Coinbase: Payment Methods

    Using multiple payment methods gives investors greater flexibility when funding or withdrawing from their accounts. 

    Coinhako accepts credit or debit card, bank transfer, and payments from GrabPay, Xfers, and MatchMove.

    By contrast, Coinbase offers a variety of payment methods depending on the region of the user. Bitcoin traders can choose to fund their accounts using a credit or debit card. The crypto exchange also accepts wire transfers from bank accounts, as well as e-wallets such as Google Pay, Apple Pay, and PayPal. Furthermore, Singaporean investors have the option of funding their accounts using a 3D Secure Card.

    Winner in Payment Methods

    Both platforms provide a respectable array of payment method possibilities. Given this, both exchanges are tied. Additionally, both platforms do not operate an in-house digital payment token service.

    Coinhako vs. Coinbase: Security

    Security is crucial when it comes to cryptocurrency trading. Aside from safeguarding users’ funds and investments, a service provider must also secure their data from external threats and hacks.

    In terms of security, both platforms command a sizable library of protocols. For starters, a mandatory know-your-customer (KYC) process is required for all users. This is to combat money laundering in line with the globally accepted anti-money laundering (AML) practices and fraud. 

    Coinhako stores about 90% of all customers’ funds in a cold storage offline compartment. People consider cold storage safer because it interacts less with the internet. 

    Also, the platform has two-factor authentication (2FA) and multi-signature wallets to ensure the intended party only initiates all transactions. In our Coinhako vs. Coinbase review, we discovered the Asian exchange had discontinued its insurance policy with BitGo. Coinhako is regulated by the Monetary Authority of Singapore (MAS) as well.

    Coinbase also employs the best industry practices to secure customers’ funds and data. The platform offers cold wallet storage, 2FA, address whitelisting, and up to $250,000 insurance cover for USD balances. The Financial Crimes Enforcement Network (FinCEN) and Financial Conduct Authority (FCA) regulate Coinbase and the exchange has a license exemption from the MAS.

    Winner in Security

    In the aspect of security, Coinbase wins.

    Coinhako vs. Coinbase: Earn/Staking Rewards

    Most Bitcoin exchanges now offer staking as a value-added service to their customers. The concept allows users to earn from their idle cryptocurrencies, which can be a great resource for passive income.

    Coinhako Earn

    In our Coinhako vs. Coinbase review, we discovered both exchanges offer staking services. Coinhako supports direct earning on over 13 crypto assets, including juggernauts like Bitcoin, Ethereum, Polkadot, Zilliqa, and eight others, for a fixed interest rate. There is no stated APY and no staking fee.

    Coinbase Earn

    Coinbase also offers a staking service with nine crypto assets yielding returns. The staking rate is pegged at 5.75%, and they charge users a 25% commission fee. The exchange offers cloud staking services, it’s a more advanced lineup of coin-earning services. This allows users to generate passive income from over 15 cryptocurrencies, like Polkadot, Binance Coin, and Cosmos, while retaining full custody of their earnings.

    Winner in Earn/Staking Rewards

    In the aspect of staking, both platforms have been impressive. Regular investors would lean more toward Coinhako because of its zero-fee structure, making Coinhako a more suitable option for investors.

    Coinhako vs. Coinbase: Usability

    With Coinhako, users can buy, sell, and swap their preferred assets. However, not all coins come with the same functionality. Some cannot be transferred, while some are only meant for trading. Users should look into this before making purchases on the exchange.

    Coinbase has a different narrative as it focuses on beginners. The platform makes it so easy for anyone with basic computer skills to buy and sell crypto. Also, all supported assets can be sold or transferred off the exchange.

    Winner in Usability

    In the aspect of usability, Coinbase wins this round.

    Coinhako vs. Coinbase: Customer Service

    Support systems are a necessity, given the novelty surrounding cryptocurrencies. Mainstream investors making the jump have found it difficult to navigate some exchanges, which is where customer service comes into play. 

    To help customers trade on its exchange, Coinhako features different support systems, including a FAQ, a Knowledge Base for articles, a support ticket, and a live chatbot. All this is accessible on its homepage.

    Coinbase features a help centre with detailed articles, chat support with a virtual agent, and live phone support.

    Winner in Customer Service

    Both exchanges are tied in this round.

    Conclusion: Final Verdict

    Both exchange platforms have their peculiarities and strengths, and deciding the best depends on the user’s needs.

    However, in our Coinhako vs. Coinbase review, Coinbase is the overall winner because of its extensive crypto lineup and library of products and services. Also, all coins are tradeable and transferrable, making it easy for users to trade their favourite assets without restrictions.

    FAQ

    Most frequent questions and answers

    There is no one-size-fits-all answer. It all depends on the user’s unique interests. Coinhako can be a great option for traders looking for low fees, but Coinbase offers a more comprehensive selection of cryptocurrencies. As a result of its massive crypto support, Coinbase has a higher liquidity than Coinhako.

    The ADA token is supported by Coinhako, although it falls within the trade-only category.  This restriction means users cannot transfer or deposit tokens into Coinhako from an external wallet.

    Crypto.com DeFi Wallet offers one of the best storage security for coins in Singapore. In addition, it allows users to earn from over 100 coins and retain full custody of their digital assets.

    No, Coinhako is accessible throughout Asia, including in countries like Vietnam. On the exchange, crypto can be bought and sold by anyone.

    Coinbase does not support selling on its platform because it lacks integration with the Xfers platform. However, users can transfer their assets to an external wallet or platform and sell their crypto for SGD.

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