Comparison of Coinbase vs Bitmart [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Coinbase vs Bitmart comparison!

Your expert: Alejandro Borja

Coinbase

Your expert: Xavier Tarrasó

Bitmart

Main points

Fees

0,40%/0,60%

Earns

Yes

Customer service

4/5

0.09%/0,25%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.5 – Higher fees but strong security and ease of use.

4.0 – Reasonable fees with some additional costs for specific services.

Level

0,40%/0,60%

0.09%/0,25%

Brief explanation

Coinbase is known for its relatively higher fee structure, which can be a significant consideration for its users. The exchange charges a flat fee for smaller transactions and a percentage of the transaction amount for larger ones. Fees vary depending on the payment method used, such as credit/debit cards or bank transfers, and the country of the user. Additionally, Coinbase applies a spread of about 0.50% for cryptocurrency purchases and sales. While the fees may be higher compared to some other platforms, they are often justified by the high level of security, user-friendly services, and the robust infrastructure that Coinbase offers to its customers. This makes it especially appealing to new entrants to the cryptocurrency market who seek ease of use and reliability.

BitMart’s commission structure is designed to be competitive within the cryptocurrency exchange market. The platform utilizes a tiered fee system based on trading volume, which encourages more frequent trading by reducing costs for high-volume traders. Generally, the fees for makers, who add liquidity to the market, are lower than for takers, who take liquidity away. This fee structure not only supports liquidity but also rewards users who contribute to the market dynamics. While specific percentages vary, they are kept transparent on the platform, ensuring traders can plan their transactions with clarity regarding potential costs.

Coinbase

Year Founded: Established in 2012, Coinbase has a long-standing presence in the cryptocurrency market. This extensive history not only showcases its resilience and adaptability but also its ability to innovate and grow alongside the rapidly evolving crypto ecosystem.
Number of Users: With millions of users globally, Coinbase is one of the largest cryptocurrency exchanges. This large user base not only demonstrates trust and satisfaction among a significant portion of the crypto community but also contributes to its robust trading volume and liquidity.
Security Methods: Coinbase employs state-of-the-art security measures including two-factor authentication, cold storage of 98% of customer funds, and insurance to protect against theft or breaches of the online storage. This comprehensive approach to security helps ensure user funds are protected at all times.
Possible Regulation: Coinbase is known for its strong regulatory compliance, operating in accordance with major regulatory bodies in the U.S. and other jurisdictions. This adherence to strict regulatory standards ensures operational transparency and security for its users.
Reputation and Reviews: Over the years, Coinbase has built a solid reputation within the cryptocurrency community. Positive reviews from users and its standing in the industry as a reliable, easy-to-use platform further affirm its credibility and reliability as a top choice for both new and experienced cryptocurrency users.

Bitmart

Security Methods: BitMart employs comprehensive security measures to protect user assets and data. These include two-factor authentication, advanced encryption technology, and the majority of funds held in cold storage. These stringent security protocols demonstrate BitMart's commitment to maintaining a secure trading environment.
Reputation and Reviews: BitMart has built a solid reputation within the crypto community for its robust platform and reliable service. Positive user reviews frequently highlight the platform's user-friendly interface and the wide variety of trading options available, reinforcing its standing in the market.
Trading Volume and Liquidity: BitMart handles a significant volume of daily trades, ensuring high liquidity across its various trading pairs. This high trading volume is indicative of a vibrant marketplace that allows users to execute trades efficiently without substantial price slippage.
Year Founded: Established in 2017, BitMart has several years of operation under its belt, during which it has continuously evolved and improved its offerings. This longevity in the fast-paced world of cryptocurrency exchanges speaks to its resilience and the trust placed in it by its users.
Customer Service: While there have been challenges with response times, BitMart's dedication to improving its customer service is evident. They are actively working to enhance their support mechanisms to provide timely and effective help to their users, which is a critical component of user trust and satisfaction.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Coinbase Global, Inc.

GBM Foundation Company

Regulation

Regulated in the EE. UU. y varios otros países

Not regulated

Year founded

2012

2017

Founder

Brian Armstrong and Fred Ehrsam

Sheldon Xia

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Coinbase	FEATURES	Bitmart
Coinbase allows relatively low minimum trade amounts, making it accessible for beginners.	Minimum Trade	BitMart offers a relatively low minimum trade amount, making it accessible for beginners to start trading without significant capital.
Fees are higher than average but justified by high security and user-friendly services.	Trading and Transaction Fees	Fees are competitive, but could be improved to match lower rates offered by some other exchanges.
Offers a wide range of cryptocurrencies, catering to both popular and niche market interests.	Number of Cryptocurrencies	BitMart supports a wide array of cryptocurrencies, providing users with a diverse range of trading options.
Provides a robust selection of trading pairs, allowing diverse trading strategies.	Crypto-to-Crypto Trading Pairs	Offers a substantial number of crypto-to-crypto trading pairs, allowing for versatile trading strategies.
Highly transparent about security measures, fees, and operational procedures.	Website Transparency	The website provides essential information; however, more detailed disclosures about security practices and fund management could enhance transparency.
The card is widely accepted, allows users to earn cryptocurrency rewards on purchases, and integrates seamlessly with Coinbase accounts, enhancing the user experience for everyday transactions.	Credit/Debit Card	BitMart does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Offers secure wallet services with a majority of assets stored in cold storage.	Storage Offering	Provides secure storage options with the majority of assets held in cold storage, though past security breaches have impacted their score.
Provides competitive staking rewards and incentives for various cryptocurrencies.	Staking and Rewards	Offers competitive staking options and rewards, appealing to users looking to earn through their crypto assets.
Both platforms are user-friendly and highly functional, providing excellent trading experiences.	Mobile App and Desktop	Both mobile and desktop platforms are highly user-friendly and feature-rich, providing a seamless trading experience.
Offers adequate support, though response times can vary during peak periods.	Customer Service	Customer support is available, but response times can be slow. More resources towards improving service responsiveness are needed.
Efficient deposit and withdrawal processes, with some limits and fees that vary by region.	Deposit and Withdraw	BitMart offers multiple deposit and withdrawal methods, but improvements could be made in processing times and fee structures for withdrawals.

Key features

Analysis tools

User-friendly charts, basic tools

Basic charting tools, some advanced features for futures

Mobile APP

Yes

Security

High 4,9/5

Additional features

Staking, Coinbase Earn educational rewards, recurring buys, Coinbase Pro exchange

Futures trading, staking, lending services, BitMart token (BMX) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

100+

200+

User-friendliness

Coinbase is known for its highly user-friendly interface, making it one of the best choices for beginners. The platform is simple to navigate, and buying and selling cryptocurrencies is straightforward and hassle-free.

BitMart features an easy-to-use platform with a simple interface that is suitable for beginners. The exchange provides a seamless trading experience with all necessary features easily accessible.

Value for money

Provides reasonable value for money with higher fees but strong security features and a user-friendly interface, making it suitable for beginners.

Provides good value for money with low trading fees and a diverse range of supported cryptocurrencies, making it a cost-effective option for traders.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

United States, South Korea, Japan, China, Singapore

Best for

Great for beginners who prioritize security and ease of use, despite higher fees compared to other exchanges.

Suitable for traders of all experience levels who want access to a diverse range of cryptocurrencies and low trading fees.

Base currencies available

USD, EUR, GBP, BTC

USD, BTC, ETH, USDT

Account

Trading

Coinbase is one of the most popular exchanges, especially for beginners. It offers a user-friendly platform, high security, and a good range of cryptocurrencies. However, its fees are higher compared to some other exchanges.

BitMart is a global exchange with a good variety of cryptocurrencies and competitive fees. It offers advanced trading options but has faced some security and regulatory challenges.

Deposit and withdrawal

Coinbase supports a wide range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, but fees can be higher compared to other exchanges .

BitMart provides diverse deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, typically within a day. Fees are reasonable, enhancing user experience.

Account opening process

Coinbase offers a user-friendly and seamless account opening process. Users need to provide personal information, verify their identity, and typically get their account approved within a day. It’s secure and efficient .

BitMart offers an easy and fully digital account opening process. Users need to provide personal details and verify their identity. The process is usually quick, taking less than a day to complete.

KYC required?

Yes

Customer Service

Coinbase offers extensive customer support through email, live chat, and a detailed help center. Support is available 24/7, and the response times are quick, making it reliable for users globally .

BitMart provides support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support can be inconvenient for users needing immediate assistance.

Security

Coinbase employs extensive security measures, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, making it a highly secure platform for investors .

BitMart provides strong security with 2FA, SSL encryption, and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As Threenvest reviews Coinbase, it is evident that this platform stands out as a robust and user-friendly gateway into the world of cryptocurrency trading. Ideal for both novice and experienced traders, Coinbase provides an intuitive interface, extensive educational resources, and a suite of trading options that cater to a broad spectrum of investment strategies. The security measures employed by Coinbase are commendable, with best practices like cold storage of funds, insurance, and stringent compliance with regulatory standards, ensuring a secure environment for digital asset trading. However, despite its many strengths, Coinbase does exhibit some limitations when compared against the broader landscape of cryptocurrency exchanges. The fee structure, particularly for small transactions and casual traders, can be notably higher than some of its competitors, which might deter those seeking more cost-effective trading options. Additionally, while Coinbase offers a substantial range of cryptocurrencies, it may not match the sheer volume of trading pairs available on platforms like Binance or Kraken. Nevertheless, Threenvest believes that for users who prioritize a secure, straightforward, and well-regulated trading experience, Coinbase remains an excellent choice. Our comprehensive review finds that while no platform is without its flaws, Coinbase’s commitment to security, ease of use, and continuous improvement align well with the needs of most cryptocurrency enthusiasts and investors.

Xavier Tarrasó

As an expert on our website, I recommend BitMart for traders who value a wide selection of cryptocurrencies and robust trading platforms. While the exchange offers strong security measures and diverse trading options, potential users should be aware of the historical security breaches and occasionally slow customer service. Overall, BitMart provides a user-friendly experience with competitive trading fees, making it a solid choice for both beginners and experienced traders looking to expand their crypto portfolios.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.