Bittrex VS Coinbase: Ultimate Crypto Exchange Comparison Guide

Comparison
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Contents
  1. General Information
  2. Registration and Verification
  3. Bittrex
  4. Coinbase
  5. User-friendly Interface
  6. Bittrex
  7. Coinbase
  8. Trading Volumes and Traded Pairs
  9. Bittrex
  10. Coinbase
  11. Commission
  12. Bittrex
  13. Coinbase
  14. Security
  15. Bittrex
  16. Coinbase
  17. Pros and Cons
  18. Bittrex
  19. Coinbase

General Information

BittrexCoinbase
Year of foundation20142012
CountryUSAUSA
LanguagesEnglish, Russian, ChinesePortuguese, German, French, Spanish, Italian, Dutch
Mobile appiOS, AndroidiOS, Android

Registration and Verification

Bittrex

Registration will take you no more than 2 minutes, as the procedure is standard. You will need to specify your email, come up with a password and remember the referral code, which will be assigned to you during registration. The verification will require even more accurate data, but the procedure does not last long. You will also need to upload your photo.

Coinbase

The peculiarity of this site is that its services are not available to all countries, only 42. Registration is straightforward: you only need to specify the name and surname, enter your mailbox and come up with a password to enter. After confirming your email will need to verify your phone number by entering a password, which will come via SMS-notification. Then you will be able to start working.

User-friendly Interface

Bittrex

Users praise Bittrex for transaction execution speed, a large number of available digital currencies, and the high turnover of altcoins. However, some users complain about withdrawal problems, difficulties with verification, and high commissions. The interface is simple but not the easiest; it takes time to understand it.

Coinbase

The trading interface is easy to adapt to, both for beginners and professionals. The primary language of the site is English. The process of converting cryptocurrencies is as streamlined as possible. Despite the small number of trading assets, the substantial trading volume will provide trouble-free execution of orders. A convenient chart represents the trading terminal with plenty of additional tools for technical analysis.

Trading Volumes and Traded Pairs

Bittrex

The trading volume of Bittrex is 19,637,933.0. There are 356 trading pairs available on the exchange. The exchange does not have the option to trade in pairs with fiat. Margin trading is not available.

Coinbase

Coinbase has a trading volume of 128,979,540.0. There are 78 trading pairs available on the exchange. The option to trade in pairs with fiat is not available on the exchange. Margin trading is not available. The exchange provides trading with not too many instruments: 8 cryptocurrencies and 1 stabelcoin. The exchange works with fiat currencies: U.S. dollar, British pound sterling, and euro.

Commission

Bittrex

All trades made within Bittrex.com are charged at 0.25%.

Coinbase

For cryptocurrencies BTC, ETH, and LTC, there is an opportunity to use leverage – 1 to 3. The trader will pay a floating commission from 0 to 0.30%, depending on the trading turnover.

Security

Bittrex

Despite the unfinished verification procedure and not the best work of technical support, the safety of accounts is not questioned. Thus, in April 2016, the exchange was hacked. The accounts’ database was then stolen, but only those of them to which two-factor authentication was not connected was under threat. From DDoS attacks, the exchanger is protected as well. If you work with it, you will often have to confirm that you are not a bot and pass the captcha.

Coinbase

The site is considered one of the most reliable among cryptocurrency exchanges. All digital currency that Coinbase holds online is insured. The insurance policy covers any losses related to a breach of Coinbase’s physical security, cybersecurity or employee theft. When registering, the user is prompted to perform two-factor authorization right away. The site uses encryption using SSL protocols.

Pros and Cons

Bittrex

Pros
  • High level of security. The exchange has never been hacked.
  • Verification is carried out with a minimum amount of data about the client.
  • The account verification process is faster than on many other exchanges.
  • Average commissions on the market. Bittrex charges 0.25% for any transactions.
  • Support for more than 250 cryptocurrencies, including rare ones.
  • No deposit limits.
  • Up to 90% of customer funds are stored in cold wallets.
  • The exchange is available for work in most countries.
Cons
  • There is no margin trading and no possibility to get loans to open positions.
  • Liquidity at the exchange sometimes does not allow to quickly process transactions with large volumes.
  • Lack of incentive programs for new users.
  • No referral program.
  • Slow response of the support service to requests from users.
  • Problems with the verification.

Coinbase

Pros
  • Serious reputation. For all time of work, there were no significant attacks that led to the loss of money by clients.
  • Insurance of client accounts.
  • Easy-to-use platform with extensive functionality. Since the addition of GDAX, Coinbase has been on par with other professional exchanges that offer an advanced terminal for analysis and the ability to open different types of orders.
  • High level of security. Coinbase offers a lot of methods to protect customer funds and the trading platform, which virtually eliminates the possibility of funds theft.
  • Possibility to work with fiat currencies.
  • Diversified system of charging commissions with rebates.
Cons
  • A large number of complaints on the exchange on various issues.
  • Support service cannot cope with the flow of tickets.
  • Only a few cryptocurrencies are available for trading. The choice of assets is very limited.
  • Lack of leverage.
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