Xapo and Coinbase happen to be two of the most reliable cryptocurrency exchanges in the industry. It cannot be denied that Coinbase has a reasonably higher customer reach as compared with Xapo, but generally, both of them have the same level for user-friendliness. Based on these facts, it often gets difficult to choose the best platform to start as a beginner, since both of them seem appealing.
In this article, we will compare Xapo and Coinbase from an array of aspects in order to make it easier for you to reach an informed decision.
Essentially, both of these platforms have been carefully designed for the same purpose (i.e. allow you to trade fiat currencies for cryptocurrencies). However, one of the key differences between both of these exchanges happens to be the currencies you could possibly buy or sell on each of these platforms.
For instance, if we talk about Coinbase, you are allowed to trade Ethereum, Bitcoin and Litecoin. Moreover, you are allowed to use GBP, USD and EUR as fiat currencies for buying these cryptocurrencies and one of the greatest features is that the exchange offers you the liberty to carry on the transaction either through a credit card or bank transfer.
Well, if we particularly talk about Xapo, you are not allowed to purchase any currency other than Bitcoin. If you are looking to grow your investment portfolio, then this could turn out to be a serious blow. However, since it allows you to purchase Bitcoins even in your local currency, there is a great deal of potential investors preferring this exchange. This is mainly to avoid the raging transaction charges later on.
For more information regarding Xapo, I encourage you to read my review here.
Let us now explore both of these platforms categorically.
Fees
Coinbase charges you about 1.49% as transaction fees on all trades. With that low amount, it does not feel shy to draw fee on every deposit and withdrawal. So basically, it climbs up to about 3.99% if you use the credit card.
Contrary to this, Xapo does not incur any transaction fee an even the fee it draws at the time of deposit and withdrawal is comparatively insignificant.
Countries supported
Xapo is available all across the Globe, while Coinbase is limited to 32 countries only.
Currencies supported
Xapo supports pretty much all of the local fiat currencies, but Coinbase is restricted to EUR, USD and GBP only.
Cryptocurrencies supported
As mentioned above, Coinbase is for Bitcoin, Ethereum and Litecoin, while Xapo deals merely with Bitcoin.
Reliability
When it comes to cryptocurrency exchanges, reliability is everything! It is worth noticing that ever since its launch in 2012, Coinbase has not suffered a single security breach.
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Even though Xapo has not been in the market for that long, it does make use of a similarly secure data structure to secure your investment.
However, the major difference comes out when we compare them in terms of customer support. There is no doubt in the fact that Coinbase has one of the most efficient and prompt customer support if compared with Xapo.
For a mediocre trader, both exchanges have got reasonable features and even the differences are not that significant. However, I would recommend you to go for Coinbase since it's been around for quite some time and also allows you to diversify your portfolio.
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Let's explore Coinbase in more detail:
