Coinbase vs. Robinhood: 2024 Comparison
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
The main difference between Coinbase and Robinhood is that Coinbase is a full-service crypto exchange, while Robinhood is a traditional stockbroker that also offers a limited set of cryptocurrency options.
Long story short: If you want advanced digital asset options such as crypto-to-crypto trades and staking, Coinbase has a wider selection of those options. But if you want access to other asset classes such as stocks in the same place you're trading crypto, then Robinhood offers a serviceable, low-cost alternative to dedicated crypto exchanges.
Here are some of the key points for crypto users to consider when deciding between Coinbase and Robinhood.
Robinhood is best for:
No-fee crypto trading.
Existing Robinhood customers who want dabble in crypto.
Robinhood at a glance
Minimum trade | $1. |
Trading and transaction fees | $0. |
Number of cryptocurrencies | 15. |
Crypto-to-crypto trading pairs | None. |
Website transparency | Important information, including investment minimums, supported assets and how to close the account, can be easily found on the website. |
Storage offering | Customers can use their own digital wallet, but service lacks much of the functionality that pure-play crypto exchanges provide. |
Staking offering | Not available. |
Mobile app | Smooth trading interface with access to charts, news and data. |
Customer service | 24/7 phone support for logged-in customers. |
Coinbase is best for:
Cryptocurrency traders looking for convenience.
Traders who want to easily convert one cryptocurrency to another.
Coinbase at a glance
Minimum trade | $2. |
Trading and transaction fees | Varies depending on payment method, cryptocurrency type, transaction size and platform. $2.99 for $200 Bitcoin purchase, or about 1.5%. |
Number of cryptocurrencies | More than 200 |
Crypto-to-crypto trading pairs | More than 400. |
Website transparency | Important information, including investment minimums, supported assets and how to close the account, can be easily found on the website. |
Storage offering | Customers can use their own crypto wallets, and Coinbase has some insurance against cybercrime. |
Staking offering | Rewards on a handful of coins, with rates up to about 10% |
Mobile app | Coinbase's highly rated apps have options suited to both beginners and advanced users. |
Customer service | Phone, email and chat. |
So which is better, Robinhood or Coinbase?
When it comes to cryptocurrencies, Coinbase is the clear winner here. Robinhood’s free trading is nice, but it doesn’t make up for the lack of crypto capabilities and the short list of cryptocurrencies to invest in.
If you value trading stocks and crypto on the same service, or if you want to start with a small, more curated selection of digital assets, then Robinhood could be a better fit, given the free trades.
On a similar note...
