These days, there are so many different cryptocurrency exchanges out there, that it can be difficult to pick the right one for yourself. If you’re currently in the middle of making a decision between FTX VS Coinbase, it’s best to get to know both platforms, before committing fully to either one of them!
That being the case, if you ARE choosing between FTX VS Coinbase Pro fees, usability, security, or anything in between, I’ve got you covered. In this comparison of the two exchanges in question, I’ll tell you all about the most important features of said exchanges, and how do they compare with one another.
If you’re simply looking for the best cryptocurrency exchange, in general, you can visit our dedicated list of the best exchange platforms on the market, today. On top of that, make sure to also check out our to-the-point comparison between FTX VS Coinbase, as well, after you read through this article - it’ll help you put things into perspective!
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Table of Contents
FTX VS Coinbase: Comparison Criteria
Now, before we jump into the actual FTX VS Coinbase comparison, there’s just one thing that we need to figure out, first - the actual criteria of said comparison!
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Admittedly, everyone is going to have their own criteria when evaluating two or more exchanges - that’s fair. After all, many of the details will depend on the actual reason for why you want to use a cryptocurrency exchange platform, in the first place!
That being the case, though, there are certain features that are crucial to look at, whether it be this FTX VS Coinbase comparison, or any other. These features include security, fees, the number of supported coins and tokens that the exchange possesses, ease of use, user count, and customer support. Let’s quickly run through each one, so that we’d both be on the same page.
- Security. Without a doubt, security is the most important aspect to look into, when picking out the best exchange for yourself - whether ir be FTX VS Coinbase, Bittrex VS GDAX, or else. Think about it this way - if an exchange platform is super-simple to use, and offers a huge array of benefits, but lacks in the security department, you still probably wouldn’t use it, since your assets would be at constant risk! So, whether it be 2FA, cold storage, or any other security measure out there, make sure to really focus on this aspect, when picking out an exchange! It can save you a lot of headaches, in the long run!
- Fees. Fees are often an overlooked element, when comparing exchanges such as Coinbase VS FTX. That being said, this really shouldn’t be the case - fees can really have a huge impact on your potential profits, whether it be when day trading, DCAing, or else. Specifically, you’ll want to look at FTX VS Coinbase Pro trading fees (or those available on Coinbase, in general) - these are the fees that will have the biggest impact on your portfolio. Withdrawal and deposit fees are usually minuscule, or waived, altogether. So, keep an eye out for the best numbers, and make sure to always check the fee model of the exchange!
- Supported Assets. There’s no denying that the crypto industry has exploded, in regards to all of the different coins and tokens available for you to pick from, and purchase. Evidently, not all projects are as reputable and well-established as others, but the idea still stands - there’s an increasing demand for exchanges to support more and more cryptocurrencies, as time goes on. Thus, it’s a point that’s crucial to take into account when looking at FTX VS Coinbase, too! If you’re just looking to acquire the “main” coins and tokens, it’s not a big deal - however, building a diverse portfolio will require plenty of supported assets!
- Ease of Use. This point is, admittedly, rather self-evident. While it’s not as specific as Coinbase, FTX price (fee) policies, or some advanced-level features, there’s still a clear line between an exchange platform that’s welcoming to beginners, and one that’s oriented towards the more-experienced lot of crypto investors. This includes everything from registration, all the way to KYC verification checks and the actual trading view available on the exchange. It’s definitely a point that needs to be considered, so keep that in mind, moving forward with this FTX VS Coinbase comparison!
- User Count. Active user count can be a great indicator of just how well the exchange is performing, and what you can expect from it, as time goes on. If there are plenty of people trading on the platform, then the ecosystem and community behind it are probably quite healthy, and you needn’t worry about such things as Coinbase, FTX price (fee-wise), or a lack of liquidity. Admittedly, there are multiple factors that may influence this particular feature, but at the end of the day, it does serve as a great tell-tale sign of what you can expect. Surely a point to consider in this FTX VS Coinbase comparison!
- Customer Support. Believe it or not, but customer support has a pretty interesting history, when it comes to crypto-related services. Some time ago, it was impossible to receive any customer service on an exchange or some other crypto platform, simply due to the decentralized nature of the industry. With time, though, as exchanges have started turning towards the more-regulated and KYC-abiding route, things have changed, and customer support has become a crucial aspect of any reliable and well-established exchange. It’s a feature that shouldn’t be overlooked in this FTX VS Coinbase comparison!
Allow me to reiterate the point I’ve made earlier in this Coinbase VS FTX comparison article - while there are multiple additional features that you can explore with either of these exchanges, the ones I’ve elaborated on above should be at the forefront of your research, at all time!
With that being said, let’s move on to the actual comparison, shall we?
FTX VS Coinbase: The Comparison
So, in order to keep things organized and tidy, we’ll start this FTX VS Coinbase comparison from the very top, and then make our way down the list of features. As you might have figured out by now, security is the first thing on that list.
Straight off the bat, let me just say - we’re talking about two industry giants here. Both exchanges in our FTX VS Coinbase comparison are considered to be leaders in the space, at least to some extent.
Naturally, this also means that both platforms employ all of the industry-standard security features that you would come to expect, too!
FTX mostly focuses on preserving user funds with measures such as two-factor authentication, whitelisting, asset locks during some suspicious logins and transfers, and so on. On the flip side, Coinbase takes a more traditional approach - for example, around 98% of all assets in Coinbase’s possession are stored within cold wallets, in an offline manner.
Reading through different user Coinbase VS FTX comparisons, you will also quickly learn about the fact that FTX focuses on derivatives trading. With that being the case, it makes sense that the security side of the platform is a bit different than usual - with crypto derivatives, emphasis should be placed on user account security!
All of that being said, the point here remains the same - no matter if you choose FTX, Coinbase, or even Coinbase Pro, you can rest assured that security is going to be a top-tier priority for the aforementioned platforms. That being said, reliability-wise, it’s also worth mentioning that, while Coinbase is an industry veteran, FTX is one of the newer names around.
As pointed out earlier in the Coinbase/FTX comparison, fees are one of the most important factors to look into, whenever you’re deciding on which exchange it is that you’d like to use. The two exchanges that we’re analyzing today aren’t an exception, either.
With FTX, the fees are actually quite amazing. By default, market makers will have to pay 0,02% from each transaction, while market takers will be taxed 0,07%. As you go up in our trading volume, these numbers will fall down, even more.
When it comes to Coinbase, well… Things are a little less ideal.
With Coinbase, your fees will range anywhere from 0,5%, all the way up to and around 4%, per transaction. The actual numbers will depend on a variety of different variables, and can change quite a bit. This is also due to the fact that Coinbase employs some of the more-complex fee models with its operations.
Now, if we were to compare FTX fees VS Coinbase ones, the picture is kind of clear - FTX is the leader here, by a longshot! Even on the lowest end of things, the exchange offers far better fees than those of Coinbase.
On top of that, don’t forget - if you’re an active day trader, and are planning to trade crypto in some significant sums, you’ll be able to lower those fees, even more. Thus, FTX certainly takes the lead here!
As mentioned earlier in this FTX VS Coinbase comparison, the number and variety of supported assets can be a really important factor, especially if you’re an active day trader with a varied portfolio, and if you really value convenience.
With time, cryptocurrency exchanges focus on this point more and more, too! Even platforms that have historically supported only a few assets have started expanding their reach, and including more crypto asset options into their platforms.
Admittedly, Coinbase used to be this type of an exchange, too. Specifically, the platform would be associated with a small number of supported cryptocurrencies, which would mostly only include the main coins and tokens. This was seen as a security guarantee, with Coinbase shying away from the less-established crypto assets.
With time, though, the exchange in question started supporting more coins and tokens - today, there are currently over 100 different assets available to be traded on the exchange. That’s a healthy number, and one that keeps on increasing with time!
As far as this FTX VS Coinbase comparison is concerned, though, FTX takes the lead in this regard, once again. The platform currently supports around 300 different crypto assets.
Do keep in mind, though, that FTX is rather unique in this regard. As pointed out earlier in the article, FTX focuses on derivatives - so, instead of trading actual cryptocurrencies (which are, admittedly, still available on the site), you would instead choose to trade crypto-derived contracts - while this still requires FTX to support certain coins and tokens, the situation gets a bit more complicated.
No matter what the case might be, though, the point remains clear - FTX takes the lead when it comes to the number of assets that it supports, and allows its users to trade.
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Ease of Use
How does one measure the ease of use of a crypto exchange, in this FTX VS Coinbase comparison?
Well, it’s actually a bit easier to do than you might think - the focus must lie on the journey that a new user would have from the registration on the platform, all the way to funding their account and performing their first trades. All of this should be viewed from the perspective of someone who’s never used a crypto-related service before.
While the absolute majority of the top-rated cryptocurrency exchanges in the industry aim to make their services as approachable to beginners as possible, not all of them are as successful as others. Judging by various user FTX/Coinbase comparisons found online, it would seem that this applies to the former exchange platform, too.
While FTX isn’t *too* complicated to get into, its aggressive stance on KYC verification means that you’ll need to pass some notable bureaucratic barriers before you can start trading on the platform - barriers that might be a bit more advanced than with many other exchanges.
On top of that, since FTX offers so many advanced features to its users, naturally, it won’t be the simplest platform to get into, either! Whether it be derivatives, or even the forex and traditional stock trading markets, all of these features surely add up to create a somewhat intimidating environment, if you’re a beginner in the space.
The situation couldn’t be more opposite with Coinbase, though. This cryptocurrency exchange has always focused on branding itself as a super-beginner-friendly platform - everything from the registration, to the KYC and account funding features are quick, simple, and hassle-free.
While this does mean that you won’t find many super-advanced features on Coinbase, if you’re not looking for that, it’s not really a big issue, then, either! So, if you’re someone who’s just starting out with your crypto journey, and are deciding between FTX VS Coinbase, do keep in mind that Coinbase will present itself as a more-approachable option.
Now, then - user count is a super-important, yet often-overlooked feature that you should consider, whether it be in this FTX VS Coinbase comparison, or any other. At the same time, it’s very important to put things into perspective, when evaluating user numbers on cryptocurrency exchange platforms - the two exchanges in question will showcase this pretty well.
First things first, though - why should you care how many people use a specific crypto exchange?
Well, as I’ve hinted at earlier in the comparison, user count can both showcase the reliability of the platform, as well as display the overall liquidity that you can expect to encounter, when trading cryptos on that specific exchange.
Now, what does “putting things into perspective” mean, in this case? Well, let’s take a look at the numbers.
As of writing this article, Coinbase currently boasts around 90 million registered users. This is an absolutely incredible number, and really goes to show how far the company has come, in the crypto space - it really is one of the main crypto hubs in the industry!
In its own right, FTX boasts over a million users. This is where things should be put into perspective.
On one hand, it all seems pretty clear - with such a huge difference in numbers, Coinbase is the undisputed champion, when it comes to attracting users to its platform. However, you should definitely consider the fact that both of these platforms have sprung up into existence at some very different points in time.
Coinbase was founded in 2012, which makes it one of the oldest still-functioning cryptocurrency exchanges in the industry. As opposed to that, FTX was founded in 2019 - that’s a 7-year gap!
Obviously, this large of a difference will have a huge impact on user acquisition, as well. If you’ve opened up your exchange a month ago, you probably wouldn’t be able to compete with the industry giants that have been around for a decade, as far as user counts go.
So, while the difference in users is gigantic, you should consider all of the variables, when deciding which platform is worth using, reliability-wise.
Proper customer support has become an absolutely essential part of an established crypto exchange - that seems obvious, in most cases. However, it’s not, really - there are plenty of high-ranking exchanges out there that, to this day, don’t offer their users live customer support options.
Unfortunately, FTX is one of such exchanges. While you are able to reach support via email, you won’t be able to chat with an agent live, via a built-in messenger on the website.
Coinbase, on the other hand, does have live chat functionality. You would start off chatting with a virtual assistant, but if it wasn’t able to help you with any issue that you might possess, you’d eventually have the chance to connect to a real person.
It’s definitely an important feature to consider, too! Imagine that you’ve encountered some sort of an issue with your trading account, or your wallet, and now can’t withdraw your funds - it can be both extremely frustrating, as well as time-sensitive, too! In a situation like this, you’d definitely want to get in contact with a support agent, ASAP.
That being said, if customer support - rather, the ability to chat with a support agent live, via a built-in chat feature on the website - is important to you, out of the two exchanges that we’re comparing here, Coinbase is going to be the only viable option. While FTX does offer customer support, in general (it would be kind of tragic if it didn’t), it’s rather limited, when compared to Coinbase.
FTX VS Coinbase: A General Overview
Up to this point in the FTX VS Coinbase comparison, we’ve already covered all of the key features and aspects that are important when picking out the best exchange platform for yourself, as they relate to both exchanges in question. What’s the general outlook, then - which exchange should you pick? Which of them is the better option - FTX, Coinbase, or neither, in general?
Well, the one thing that you should have gathered from this comparison is that both platforms are actually very different from one another. Following that, they will likely suit different crypto enthusiasts, too.
Starting off from Coinbase, it’s one of the most-established industry leaders - there’s no denying that. The exchange has been around forever, and has taken up the position of being the “entryway into the world of crypto, for industry newcomers”. That’s why they put so much emphasis on beginner-friendliness in their marketing ventures, as well!
FTX, on the other hand, has taken a different approach to crypto exchange services. While the platform does put in the effort to provide newbies with some approachable services, its focus lies in the more-advanced features associated with the market - derivatives, NFTs, community voting, and so on.
Following that, as you might expect, both exchanges will likely attract different cryptocurrency enthusiasts, as well. Thus, when comparing FTX VS Coinbase, you should consider your own goals, as well - this will help you decide much easier!
If you’re new to the industry, or are looking for a super-established and reliable platform to start trading on, then Coinbase is a no-brainer here. The exchange (broker) will allow you to access all of the main cryptocurrencies in a fast, simple, and beginner-friendly manner. This is true when it comes to funding your account and transfering your assets to a third-party wallet, too!
On the flip side, if you’re looking to diversify your portfolio with some more-niche altcoins, or are in search of advanced crypto exchange functionality that would aid you in your professional day trading ventures, FTX might offer some better services.
While things such as the FTX fees VS Coinbase fees are going to differ, quite a bit, the good news here is that, in regards to security, both platforms are top-tier. Thus, with this rather fundamental feature aside, you’re able to pick freely!
To wrap things up with this FTX VS Coinbase comparison, allow me to reiterate the point that I’ve made a few times in this article already - since both crypto exchange platforms in question have the fundamentals down and figured out (security, user convenience, KYC, etc.), all that’s really left to do is for you to decide which platform you are more comfortable in using.
Generally speaking, it’s also worth keeping in mind that you don’t even need to pick a single exchange, either! You could go ahead and start your crypto journey with Coinbase, and then, once you’re more comfortable and have figured out the ropes, you could add FTX to your exchange list, as a viable alternative for some of the more-advanced features out there.
On top of that, the unique thing about this particular comparison is that FTX focuses on crypto derivatives trading, too. This is an important factor to consider! Perhaps you don’t really want to hold actual cryptocurrencies yourself, and have no interest in acquiring a separate crypto wallet in order to store your assets?
If that’s the case, and you’re more of a day trader than a passive, long-term investor, FTX could be the more-viable option, in that regard. While it does have a dedicated Spot market, and you CAN acquire actual crypto assets on it, derivatives-focused traders will find all of the features that they might require in order to perform their trades, and then some!
No matter what it is that you choose, do keep in mind that you can also check out our fact-based Coinbase VS FTX comparison, as well. Once it’s up, you’ll be able to find it here.
Thanks for reading, and good luck with all of your crypto-related ventures to come!