Even though Bittrex was established two years later after Coinbase was founded, the two exchange platforms have been phenomenal. Other than a great reputation, the two companies have enjoyed a massive popularity over the years. But why would somebody prefer Bittrex over Coinbase or the vice versa? Well, in this Bittrex VS Coinbase exchange comparison we shall discuss all the crucial differences between Bittrex and Coinbase.
So, Bittrex vs Coinbase; which is best suited for you?
PART 1: Bittrex VS Coinbase: What’s the main Difference?
Bittrex and Coinbase highly differ when it comes to the transaction criterion. Bittrex is a solely crypto-to-crypto platform that doesn’t allow any transaction with flat currencies at all. On account of this, it is a big NO for the beginners though an ideal platform for all the experienced serious traders out there.
For more information you can read my Bittrex review here
In comparison, Coinbase is a great and popular platform for crypto starters; it supports the USD, GBP and the EUR flat currency payments via credit cards, bank transfers and even PayPal. As such, it is the best exchange platform for new crypto enthusiasts to buy their first digital coins.
Want to get more information; you can check the Coinbase review here
PART 2: Bittrex VS Coinbase: Which one is the best to trade with?
Consider the following points to help you gauge the two:
- While Coinbase supports only Bitcoin, Ethereum and Litecoin; Bittrex supports a variety of cryptocurrencies like Bitcoin Cash and over 180 other Altcoins.
- Bittrex supports only crypto-crypto trade while Coinbase allows transaction with flat currencies (USD, EUR, and GBP)
- Bittrex is available globally whilst Coinbase is available in only 32 countries worldwide.
- Coinbase deposit and withdrawal charges range from 1.49% to 3.99%. On the other hand, Bittrex transaction fee is 0.25% with no charges for deposits and withdrawals.
- Coinbase has a variable weekly limit not exceeding 50,000 dollars. For Bittrex the transfer limits vary as follows:
- For a non-verified account - 1BTC per day.
- For a verified account with a 2-factor authentication – 3BTC per day
- For an enhanced account – 100BTC per day
PART 3: Bittrex VS Coinbase: which one is more dependable?
- Bittrex and Coinbase have never been hacked since their establishments. Moreover, they are leading cryptocurrency exchange platforms with world class reputations that you can always count on. Nevertheless, Coinbase is much more popular compared to Bittrex.
- On matters concerning the security of your account, both platforms use a 2-factor authentication to ensure no malicious login without your consent. When it comes to the security of your funds, most of the funds are kept offline to protect them from theft in case of a successful non-expected hack.
- Coinbase offers a non-equivocal customer support facility, with a 24hr response to email tickets and even opts for phone conversations where necessary. On the other hand, Bittrex uses the email support@bittrex.com. However, users have claimed that it may take a substantial amount of time to get a response from the email.
PART 4: Bittrex VS Coinbase: Final verdict
Undeniably, Bittrex is best suited for the most experienced and serious traders who only take part in crypto-to-crypto transactions. For Coinbase, I would recommend it for starters and armatures that are just beginning to gain valuable experience within the crypto community. It is simple, easy to use and accepts flat currencies efficiently and conveniently. Moreover with Coinbase you can easily get rewarded via their current promotion. To participate, please click on this link.
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