Cryptocurrency is a good investment and offers a lucrative opportunity for anyone to earn hefty profits. If you are someone who is looking to trade or invest in digital coins, then creating an account with a crypto exchange is a must.
Webull and Coinbase are the two most popular crypto exchanges, where you can create an account and invest in crypto. Webull and Coinbase are well-designed crypto exchange software and charge a reasonable fee from users. This is the reason why most users can’t decide, Webull vs Coinbase, which one is best for them.
To solve this confusion, we have created this post and compared both platforms in different categories so that our readers can decide which is the best platform for them.
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So without any ado, let’s start!!
Established in 2012, Coinbase is one of the oldest and most popular names in today’s crypto world.
The user-friendly interface and cutting-edge features enable this platform to establish itself as a market leader. The popular crypto exchange allows users to trade or invest in BTC, ETH, LTC, ZRX, BAT, and other over 100 cryptocurrencies.
Coinbase mobile application is available in both Android and iOS with multiple payment methods such as PayPal, credit card, to name a few. The platform is popular worldwide and has earned the reputation of being the most reliable cryptocurrency exchange.
Coinbase Advantages & Disadvantages
Established in late 2017, the Webull is the latest addition to the cryptocurrency exchange. The platform became an instant hit as young investors are getting hooked to the platform for trading stocks and cryptocurrencies.
Webull offers a variety of top-notch research tools both for beginner and professional traders to invest in crypto and stocks markets. Looking to trade stocks or other financial instruments such as ETFs and options, Webull is the ideal cryptocurrency exchange platform for you.
This cryptocurrency exchange has plenty of other features up its sleeves. The stock simulator features the platform users can test out their new trading strategies before jumping into the real world.
Webull Advantages & Disadvantages
Coinbase vs Webull: Transaction Fees
Let’s talk about the transaction fees on Webull first. This crypto exchange doesn’t charge any fees on trading crypto, ETFs, and stock trading. However, the platform has set a minimum account balance for a margin account, i.e., $2,000. On the contrary, the platform charges a spread of 100 basis points, equivalent to 1% of the trading fees on any other crypto exchange.
The spread charges on the platform make it a bit costlier than the Coinbase Pro and economical than Coinbase.
While the transaction fees are quite transparent on the Webull platform, the fee structure is a bit complex on Coinbase. In closer comparison with the Coinbase appears to be a bit expensive; however, transaction fees are lowest on Coinbase Pro.
The fee structure of Coinbase on smaller orders:
- Transaction fee up to $10: $0.99
- Transaction fee above $10 to $25: $1.49
- Transaction fee above $25 to $50: $1.99
- Transaction fee above $50 to $205: $2.99
The lowest fees you can get on Coinbase are through an ACH transfer from a bank account. For an ACH transfer from a bank, there will be a transaction fee of either 1.49% or a flat fee on small transactions.
However, in contrast to Coinbase, the transaction fees on the Pro version is quite low. The transaction fees are usually charged on the 30-day trading volume and also use a maker-taker fee model. In this fee model, the transaction fee is charged on the orders that are immediately filled (taken fee), and orders are pending at the fee charged (maker fee).
The fee structure of the Coinbase Pro
- Transaction fee Up to $10,000 – 0.50% (Taken Fee), 0.50% (Maker Fee)
- Transaction fee $10,000 to $50,000 – 0.35%(Taken Fee), 0.35%(Maker Fee)
- Transaction fee $50,000 to $100,000 – 0.25%(Taken Fee), 0.15%(Maker Fee)
- Transaction fee $100,000 to $1,000,000 – 0.20%(Taken Fee), 0.10%(Maker Fee)
- Transaction fee $1,000,000 to $10,000,000 – 0.18%(Taken Fee), 0.08%(Maker Fee)
Coinbase vs Webull: Trust and Security
The Coinbase offers notable security features such as the 2F authentication process for all accounts. This means for Coinbase users to add an extra layer of protection to their accounts. That’s not it; there are plenty of other security features to give its users peace of mind. The platform allows users to store 98% of their funds, and accounts are also insured. So when it comes to trust and security, Coinbase has the edge over its competitor.
On the other hand, Webull also follows a 2F authentication process for all accounts. However, Webull exchange doesn’t offer any additional security features as compared to Coinbase. There is no such feature as cold storing their funds, but you can use a third-party application. Thus there is always a counterparty risk involved with this crypto trading exchange.
Coinbase vs Webull: Registration Process
When it comes to creating an account on any of the platforms, the registration process is pretty simple and swift. Anyone can create an account just with a phone number and email address and start their trading journey on the crypto exchange. There is no need for any additional information; however, it is essential to provide personal documents and other supporting documents for Webull.
If you are looking for a winner in this category, the account registration process is quite simple in the Coinbase crypto exchange.
Coinbase vs Webull: Client Service
Both platforms have some stand-out features when it comes to providing efficient client service.
Coinbase regularly updates its FAQ section and provides users with the latest information to solve their queries. Any important updates such as transaction fees or other common issues will be updated here. There is also a feature for users to connect with the support team via email or phone. However, Coinbase Pro uses faster resolution for trading fees and limits issues.
On the contrary, there is no such FAQs feature on the Webull platform. However, the platform offers client support via chat, email, or phone to solve users’ queries or issues. Webull users can expect a response from the support team within 24 hours.
It’s hard to declare a winner when you look closely at Webull vs Coinbase in terms of client service. However, both of them offer responsive and helpful features to solve customer queries.
Coinbase vs Webull: CryptoCurrencies
In this category, we can declare a winner without any difficulty. With over 90 cryptocurrencies to trade or invest in, Coinbase is well ahead of the competitor with 11 cryptos.
However, Webull allows its users to trade popular digital coins such as Bitcoin, Ethereum (ETH), and Cardano (ADA). And perfect for someone who is looking to target only specific cryptos. Webull might have to miss out on the notable crypto coins.
What to know which cryptos are available on Coinbase but not on Webull, here’s a list for you:
- Solana (SOL)
- Polkadot (DOT)
- Uniswap (UNI)
- Algorand (ALGO)
- Internet Computer (ICP)
So, Coinbase is a clear winner.
Coinbase vs Webull: Wallets
The crypto exchange controls custodial wallets, and the users control non-custodial wallets. Coinbase users can avail both custodial and non-custodial crypto wallets for sending and receiving cryptos.
On the other hand, Webull there is no such crypto wallet feature for users. What this means is that even though you can buy or sell cryptos, you can’t transfer them anywhere. You are not in full control of the assets you own, and for any reason, your Webull account froze; you might lose access to your holding.
With this, we have come to the end of Webull vs Coinbase. Although in this post, it might look that Coinbase is a better option than Webull. But in reality, it all depends upon the user’s preference and what’s their end goal.
For someone who is more experienced or serious about investing in the crypto world, then Coinbase is the perfect you. This platform offers over 90 cryptos to trade, a safe and secure platform, and lower fees with Coinbase Pro.
On the other hand, Webull offers an excellent mobile platform to trade cryptos and diversify assets. If you are someone who is looking to enter the crypto world, then Webull is the ideal platform for you. Just for heads up, Webull doesn’t offer all the features a trader or investor can get from other crypto exchanges.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. Do your own research!