Comparison of Coinbase vs Luno [ 2024 ]

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

Your expert: Alejandro Borja

Coinbase

Your expert: Xavier Tarrasó

Luno

Main points

Fees

0,40%/0,60%

Earns

Yes

Customer service

4/5

≤0,10%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

3.8 – Reasonable fees with strong local support in emerging markets.

Level

0,40%/0,60%

≤0,10%

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.

Luno operates with a transparent and competitive commission structure that varies based on the type of transaction and the user’s activity level. For trading, Luno typically charges a tiered fee, which decreases as the user’s monthly trading volume increases, incentivizing high-frequency traders with lower rates. The fees for buying and selling cryptocurrencies are calculated either as a percentage of the transaction amount or as a flat rate, depending on the currency and payment method used. Deposit fees vary by payment method, with options like bank transfers often being free, while credit or debit card transactions may incur higher fees. Withdrawal fees also vary, generally depending on the network fees of the cryptocurrency being withdrawn and the urgency of the transaction. This fee structure is designed to be straightforward, allowing users to easily understand the costs associated with their trading and financial movements on the platform.

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.

Luno

Year Founded: Since its inception in 2013, Luno has built a long-standing reputation in the cryptocurrency market. This longevity serves as a testament to its resilience and adaptability in the ever-evolving crypto landscape.
Security Methods: Luno prioritizes the security of its users' assets through robust security protocols, including state-of-the-art encryption and secure storage measures. These efforts ensure that users' investments are protected from external threats and vulnerabilities.
Possible Regulation: Luno’s commitment to regulatory compliance in each market it operates in reinforces its reputation as a trustworthy platform. By adhering to local financial regulations and guidelines, Luno provides a secure trading environment that aligns with legal standards.
Reputation and Reviews: The platform has garnered positive feedback from users globally, reflected in its favorable reviews across various consumer platforms. This positive reputation highlights user satisfaction with Luno's services and its effectiveness in meeting trader needs.
Trading Volume and Liquidity: Luno maintains a healthy trading volume and liquidity, ensuring that users can execute trades efficiently without significant price slippage. This reliability in trading performance makes Luno a preferred option for many traders looking to buy and sell cryptocurrencies.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Coinbase Global, Inc.

Luno Pte Ltd.

Regulation

Regulated in the EE. UU. y varios otros países

Regulated in Singapur y Sudáfrica

Year founded

2012

2013

Founder

Brian Armstrong and Fred Ehrsam

Marcus Swanepoel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Coinbase	FEATURES	Luno
Coinbase allows relatively low minimum trade amounts, making it accessible for beginners.	Minimum Trade	Luno allows small minimum trades, making it accessible for beginners to start with lower amounts.
Fees are higher than average but justified by high security and user-friendly services.	Trading and Transaction Fees	Luno’s fees are competitive but can vary by region and payment method, which may impact cost efficiency for some users.
Offers a wide range of cryptocurrencies, catering to both popular and niche market interests.	Number of Cryptocurrencies	Luno offers a selection of the most popular cryptocurrencies but has a more limited range compared to larger exchanges.
Provides a robust selection of trading pairs, allowing diverse trading strategies.	Crypto-to-Crypto Trading Pairs	Luno provides a few crypto-to-crypto trading pairs, focusing more on fiat to crypto transactions which limits trading strategies.
Highly transparent about security measures, fees, and operational procedures.	Website Transparency	The Luno website provides clear information on fees, policies, and company details, although some users may seek more depth in certain areas.
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	The Luno card effectively integrates with their service offering, providing convenience and accessibility for in-store purchases while also facilitating easy conversion from crypto to fiat. This feature enhances user experience by expanding the usability of cryptocurrencies in everyday life. However, availability may vary by region, which is why it doesn’t achieve a perfect score.
Offers secure wallet services with a majority of assets stored in cold storage.	Storage Offering	Luno excels in secure cryptocurrency storage solutions, offering integrated wallets with advanced security measures.
Provides competitive staking rewards and incentives for various cryptocurrencies.	Staking and Rewards	Currently, Luno has limited options for staking and rewards, which could be an area for future development to enhance user returns.
Both platforms are user-friendly and highly functional, providing excellent trading experiences.	Mobile App and Desktop	Luno’s mobile app and desktop platform are highly user-friendly, offering intuitive navigation and robust functionality for all user levels.
Offers adequate support, though response times can vary during peak periods.	Customer Service	Luno provides competent customer service with multiple channels for support, though response times can occasionally extend during high demand periods.
Efficient deposit and withdrawal processes, with some limits and fees that vary by region.	Deposit and Withdraw	Deposits and withdrawals are generally smooth with Luno, supporting various methods, though some users might face delays depending on their region.

Key features

Analysis tools

User-friendly charts, basic tools

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,5/5

Additional features

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

Savings wallets, fiat on/off ramps, staking, educational resources

Anonymity

Key points

Available cryptocurrencies

100+

10+

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.

Luno offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth 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 decent value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and emerging market users.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

South Africa, Nigeria, Indonesia, Malaysia, Europe

Best for

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

Ideal for beginners and emerging market users looking for a user-friendly platform with competitive fees.

Base currencies available

USD, EUR, GBP, BTC

ZAR, NGN, MYR, IDR, EUR, BTC

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.

Luno is a user-friendly exchange popular in emerging markets, offering easy fiat integration and a decent range of cryptocurrencies. It has competitive fees but lacks advanced trading tools.

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 .

Luno is user-friendly, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

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 .

Luno offers an easy and quick account registration process. Users need to provide personal information and verify their identity. The process is fully digital and typically takes 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 .

Luno offers support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users needing immediate help.

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 .

Luno ensures security through 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, providing a secure environment for 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 Luno for newcomers venturing into the world of cryptocurrencies. Its user-friendly interface and robust educational resources make it an excellent starting point. However, more experienced traders might find the platform’s limited advanced trading features and crypto-to-crypto pairs a bit restrictive. If you’re just getting started or prefer a straightforward, secure trading environment, Luno is a solid choice to consider.

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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.