FTX vs Coinbase: Cryptos, Fees, KYC Exchanges Compared

We continue our series comparing exchanges. Identifying the best exchanges is an important task for us. This time, we decided to look at two giants of the cryptocurrency industry - FTX vs Coinbase. We compared these exchanges by all main parameters to determine which one is better.

Advantages and disadvantages of FTX

About FTX exchange

FTX is a crypto exchange with deep liquidity, tight spreads and up to 110x leverage. You can also trade tokenized stocks and other assets. A liquidation system is a great way to keep your money safe if you're worried about losing it on transactions, or want protection against market volatility. You can do this with 3x leverage, instantly. Exchanging tokens with the help of that service means easy access to incentives, like a lower commission fee or a deeper market on over-the-counter trading.

About Coinbase Exchange

Coinbase is the largest cryptocurrency exchange. The site combines the functions of an exchange and a wallet. And the first impression is a very simple site. On the main page of the exchange, there are all the necessary menus to start working.

Comparative analysis of FTX and Coinbase exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

FTX offers: 

Coinbase offers:

Available countries

FTX and Coinbase exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries. 

Payment methods

You can fund your FTX and Coinbase account with a bank card, PayPal or cryptocurrency.

Card Support

All types of bank cards from supported countries are available on FTX and Coinbase.

Available Cryptos and Tokens

FTX currently supports 523 trading pairs and 340 coins. 

While Coinbase supports 524 trading pairs.

Verification (KYC)

FTX takes great measures to verify the identities of their users and if you want to make full use of the site and its features, including transaction limits and any other necessary security considerations, it's important that you verify your identity.

Creating a Coinbase account only allows you to store your online cryptocurrency wallet. In order to be able to convert coins or trade on price differences, it's necessary to verify the account in the system. Retain your contact information with a valid ID and make sure to update it. This option is not available in all countries.

Account deposit

Exchanges offer the following options for funding the account:

Comparison of Trading Fees

FTX:

Coinbase:

Account security

FTX take a lot of care to protect your account. You can add 2FA protection to your account, set a separate password for withdrawals, and customize when 2FA is required. To manage clients easily you can also create custom logins for each individual subLogin.

At Coinbase the level of protection is as follows: Password, Confirmation by SMS, 2FA, Hardware keys. It is possible to configure at what amount of money is sent the exchange will ask for two-factor authentication.

Passive earn on exchanges

On FTX, you can use blocked and unblocked SRM and MSRM tokens for steaking, thus participating in the Serum ecosystem. Yield: 4% p.a. Distributed every hour. With 2% given out in locked SRMs and the other 2% in unlocked ones.

Coinbase has Ethereum 2.0, Tezos, Cosmos, Solana, Algorand, Cardano cryptocurrency stacking feature with yields up to 6% p.a. (varies).

Which to choose - FTX or Coinbase

We looked at two giants of the industry. Both exchanges have great functionality and a quality trading platform. The only differences are in the little things. To understand which exchange is right for you, you have to try both.

Disclaimer:

Crypto trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

FAQs

Is FTX a good exchange?

There is no one-size-fits-all answer to this question, as the best exchange for you will depend on your individual needs and preferences. However, FTX is a well-respected and trusted exchange that has built a strong reputation within the crypto community.

FTX offers a wide range of features and benefits that make it an attractive choice for traders of all levels of experience, including a user-friendly interface, high liquidity, low fees, and extensive support for a variety of cryptocurrencies. Additionally, FTX also offers unique features like Futures contracts and Tokenized Assets that are not available on other exchanges.

Overall, FTX is an excellent choice for traders who want access to a wide range of trading assets.

Is FTX safe to hold crypto?

There is no easy answer when it comes to whether or not an exchange like FTX is safe to use. However, there are a few key factors that you can look at in order to gauge the safety of an exchange. First and foremost, you want to make sure that the exchange is properly regulated. In the case of FTX, they are registered with legal entities in the United States, Singapore, and Hong Kong. This provides them with some level of protection should something happen to the exchange. Additionally, you want to make sure that the exchange has implemented proper security measures. For example, FTX uses 2-factor authentication and encrypted wallets in order to keep user funds safe.

How is FTX different than Coinbase?

FTX is a decentralized crypto exchange that offers a secure, fast, and reliable way to trade cryptocurrencies. The exchange uses an automated trading system which provides liquidity for all the transactions that happen on it. The platform also has a user-friendly interface and it’s compatible with all the major web browsers.

The FTX team also consists of experienced traders who know how to make the best trades possible and they are backed by a strong technical team that works on developing new features for the exchange.

Coinbase is one of the most popular cryptocurrency exchanges in the world. It allows users to buy and sell cryptocurrencies with fiat money or other digital currencies that are supported by Coinbase such as Bitcoin, Ethereum, Litecoin etc. It has over 20 million customers across 32 countries with over 100 million transactions

Conclusion

FTX and Coinbase are both worth exploring. We recommend you sign up with both platforms and try them out to see which one suits your needs best. That way, you can get a firsthand impression of the quality of each platform and decide which is better for your needs. In addition, we advise you to consider other crypto exchanges, many of which we reviewed on our website.