What’s the Difference Between Coinswitch and Coinbase?
Though different cryptocurrency exchanges enable traders to buy and sell cryptocurrency with relative ease, it’s still important to ensure that you’re working with the right crypto exchange. In some cases, this means looking at popular crypto names to get an idea of which ones offer the most robust exchanges. In others, it comes down to two similar choices that make it difficult to make a final decision.
This often happens to a few crypto brands in particular, including Coinbase and CoinSwitch. Unfortunately, as the crypto market continues to expand and users look for opportunities outside of your usual BTC and ETH exchanges, it’s often hard to tell the difference between different exchanges. To understand more about how to choose between Coinbase and CoinSwitch Kuber, here’s what you need to know.
The fees work differently.
Whether you look at a Coinbase or CoinSwitch review, it’s easy to see that each cryptocurrency platform uses different fee schedules. Part of this comes down to how the two services differ. For starters, Coinbase focuses primarily on the international cryptocurrency trade. Many cryptocurrency exchange aggregator outlets seem to agree that Coinbase is one of the most robust cryptocurrency trade platforms in the world. Coinbase also charges a flat fee per transaction and a variable rate based on the total value of the crypto transaction.
Compared to this, CoinSwitch Kuber is an Indian cryptocurrency exchange that’s more limited in scope. CoinSwitch Kuber also doesn’t charge users when they deposit and withdraw money, though the CoinSwitch platform does have hidden fees that are harder to plan for. Also, when you purchase currency using CoinSwitch Kuber, you may not always get the best exchange rate. The platform uses different buying and selling rates for their currencies which is a fairly unusual practice throughout the crypto industry. While it might seem like a blowout if you’re trying to choose between the two, it’s important to understand that each has its advantages and disadvantages.
CoinSwitch works for smaller transactions and beginner crypto investors.
It’s no secret that cryptocurrency is a fairly nebulous concept. The crypto trade, on the whole, isn’t the most beginner-friendly market. It can also be harder for crypto newcomers to master concepts like the blockchain, exchange rates, fiat currency, and digital wallets. This can discourage deposits and crypto withdrawal. Compared to this, CoinSwitch is a fairly accessible platform. Since CoinSwitch Kuber doesn’t charge any withdrawal or deposit network fees, this means that it’s a popular option among newer cryptocurrency investors.
However, one key drawback is that CoinSwitch Kuber does not offer the robust feature suite that Coinbase does. If you’re looking to set up a wallet address, avoid hidden trade fees, and grow your crypto assets, and you’re willing to tackle the learning curve, you must have the freedom to use helpful features.
Coinbase is a more trusted cryptocurrency name.
In the cryptocurrency industry, Coinbase is highly regarded as a secure platform for traditional exchanges. While it doesn’t cater specifically to the Indian market, it does help facilitate some of the leading exchanges of digital assets throughout any blockchain. In addition, this trading platform offers diverse digital currencies and helps you maintain anonymity as you see fit. Though there are plenty of reasons to consider CoinSwitch for your specific needs, Coinbase is the more trusted name. However, it might be intimidating if you’ve never worked with cryptocurrency before.
Deciding between CoinSwitch and Coinbase is no easy task. While CoinSwitch provides Indian-centric cryptocurrency access and mobile app use, Coinbase is a more user-friendly platform for serious investors. For the pros, it makes more sense to stick to a platform like Coinbase. However, if you’re newer to cryptocurrency or want to test out beginning trades, CoinSwitch makes sense for your unique needs.
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