| Blockfolio | Coinbase | |
|---|---|---|
| Fees | $0.50 per bank deposit after three free deposits | Up to 0.50% spread per trade, 1.49% for Coinbase wallet or bank account purchases, and 3.99% for credit card purchases |
| Currencies | 75 | 66 |
| Security | Two-step verification, partners with custodians | Two-step verification, FDIC-insured USD balances up to $250,000, cold storage, and insurance against theft or fraud |
| Wallet | N/A | AES-256 encryption, allowlisting, Secure Enclave, and biometric authentication |
| Transactions Supported | Buy, sell, exchange, and withdraw | Buy, sell, exchange, send, withdraw, and receive |
| Max. Trading Amount | Limits vary and aren’t disclosed | Limits vary based on your region and payment method |
| Mobile App | iOS and Android | iOS and Android |
Blockfolio vs. Coinbase: Features
Coinbase and Blockfolio come with features designed for their audience, with Coinbase focusing on beginners and Blockfolio highlighting its crypto tracking app. Coinbase offers:
- A comprehensive knowledge base with tutorials, tips, and frequently asked questions
- The ability to earn up to $25 in altcoin for learning about crypto
- A clean, simple portfolio for tracking assets
- A standalone hot wallet for tokens, coins, and digital collectibles
- A waitlist for an upcoming Coinbase Visa debit card for crypto purchases
On the other hand, Blockfolio only recently began offering in-app trading via FTX and FTX.US in 2020. The website focuses mainly on its tracking application. Although it offers exchange services, the Blockfolio site notes, “Blockfolio does not provide trading services. Trading services offered through the Blockfolio site are provided by FTX.US for U.S. residents only, and FTX.COM for all other regions.” Moreover, you won’t find much information on the website, nor are the features accessible via desktop. Instead, users must download the iOS or Android app.
Active crypto traders appreciate features, such as:
- One of the best portfolio tracking apps, supporting over 500 exchanges, including Kraken, Coinbase, and Binance
- Blockfolio Signal, a key spot for real-time crypto news alerts
- Ability to earn altcoin for every $10 trade
- A customizable, built-in newsfeed
Blockfolio vs. Coinbase: Currencies
Although Coinbase lags behind platforms, it is like Binance, in coin offerings in that it offers far more for U.S. residents than Blockfolio. Coinbase supports 66 altcoins, with 63 available to U.S. investors. In addition, users can buy and sell many popular currencies, including stablecoins like the Coinbase-backed USD Coin (USDC). It also supports coin fractions and 20 fiat currencies, such as USD, EUR, and GBP.
In comparison, Blockfolio trading is handled by FTX and FTX.US. These platforms support coin fractions and fiat currencies, like USD, EUR, GBP, and AUD. U.S. investors can buy and sell 19 coins, whereas international users have access to 73.
Blockfolio provides five coins to U.S. users that are unavailable on Coinbase, including PAX Gold (PAXG), Ethereum EUR (ETH-EUR), Ethereum AUD (ETH-AUD), Brazilian Reais (BRL), and Graph (GRT).
Blockfolio vs. Coinbase: Security
For U.S. residents, the country’s regulations ensure your trading platform follows industry standards, including basic security measures like know your customer (KYC). However, Blockfolio and Coinbase take a different approach when disclosing security measures.
Coinbase places security information prominently on its home page, along with a web page dedicated to security details. It keeps 98% of funds in air-gapped cold storage, and the Federal Deposit Insurance Corporation (FDIC) backs USD balances. Moreover, Coinbase uses a bug bounty program and retains insurance for funds kept in hot storage.
In contrast, you won’t find many details about security on the Blockfolio or FTX sites. For example, FTX.US says it “has industry-standard security” and “full external backing of all hot wallet funds and relationships with industry-leading custodians.”
Blockfolio vs. Coinbase: Fees
Coinbase and Blockfolio have stark differences in their fee structures. Coinbase has a complex structure, with charges differing based on the fiat deposit method, total investment per trade, and a spread. In short, you may pay up to 4% in fees when buying or selling crypto. Trades incur either a variable fee based on the payment method or a flat convenience fee, whichever is higher. The convenience fees are as follows:
- $10 or less: $0.99
- Over $10, but $25 or less: $1.49
- Over $25, but $50 or less: $1.99
- Over $50, but $200 or less: $2.99
In addition, you’ll pay a 1% fee to convert your crypto to fiat and withdraw it. But, the Coinbase Pro platform is less expensive than Coinbase, charging maker-taker fees of 0.10% to 0.50%.
In comparison, Blockfolio markets itself as a zero-fee platform. It’s free to deposit funds from your bank account up to three times per month, after which Blockfolio charges $0.50 per deposit. If paying via Visa or Mastercard, you’ll pay a fee to your credit card processor, typically 2.9% plus $0.30 per transaction. But, this is far cheaper than the 3.99% charged by Coinbase.
However, it’s important to note that although Blockfolio says there are zero fees, when you buy or sell on the platform, the prices for buying may be higher and for selling may be lower than other exchanges. Consequently, some users report that the cost of buying Blockfolio can mirror Coinbase fees minus the transparency. Additionally, Blockfolio says, “Quotes will generally track market movements, but there may be a difference to account for the spread, impact, and liquidity of the token.”
Blockfolio vs. Coinbase: Ease of Use
Both Blockfolio and Coinbase are easy to use with a clean user interface that’s simple to navigate. The sign-up method and process of initiating a trade are clear and easy to follow. The difference here is that Blockfolio is a mobile-first platform, meaning desktop use isn’t supported. In contrast, Coinbase provides complete functionality for desktop and mobile users.
Beginners may feel more comfortable on the Coinbase platform, as it guides users through nearly every step of investing. If you have questions, the searchable knowledge base provides answers. Although Blockfolio is easy to use, new investors won’t find many details about investing in cryptocurrencies. But, it does offer step-by-step instructions for completing transactions on the platform.
Blockfolio vs. Coinbase: Mobile App
Both cryptocurrency exchanges offer a mobile app for Android and iOS devices. The apps are intuitive and straightforward to navigate when making trades. However, Coinbase lacks real-time data and advanced tracking features desired by active traders. In comparison, Blockfolio’s app stands out for its robust portfolio tracking capabilities, but there isn’t automatic syncing of trades to your portfolio.
In short, inexperienced investors will feel comfortable using both apps. In contrast, advanced users may find the Coinbase app less comprehensive and Blockfolio’s app less trustworthy with its data and charting.
Blockfolio vs. Coinbase: Access
Blockfolio and Coinbase support investors in 49 U.S. states; Coinbase won’t work for investors in Hawaii, and Blockfolio doesn’t support New York users. Plus, Coinbase offers far more coins for U.S. investors: 63 compared to Blockfolio’s 19.
Meanwhile, Blockfolio’s tracking app is used worldwide, but trading is a different story for U.S. residents. It goes through FTX, which operates a second site for U.S. users called FTX.US. However, FTX states, FTX.US is “a separate trading platform not owned by FTX.” As a result, international users will find more trading options through Blockfolio than domestic investors.
Final Verdict
Coinbase remains one of the best cryptocurrency platforms, aside from its high fees. Investors can opt for the Coinbase Pro platform to save a bit of money, even though there’s a slight learning curve. It’s secure, well-known, and trusted, making it a great cryptocurrency exchange.
On the other hand, Blockfolio only began offering trading in 2021, so there isn’t much information on the process, security levels, or total costs of investing. Investors may want to check out Blockfolio’s crypto portfolio tracking capabilities and decide if they’re comfortable investing on the platform.
Frequently Asked Questions
What Are Blockfolio and Coinbase?
Coinbase is a cryptocurrency exchange founded in 2012. It offers a beginner platform and an advanced exchange called Coinbase Pro. Investors can learn about and earn crypto on the website. Users choose Coinbase because it offers high-security levels and takes a transparent approach to every detail.
Blockfolio began as a crypto portfolio tracking app in 2014, was acquired by the international cryptocurrency exchange FTX in 2020, and began offering in-app trading in 2021. Advanced investors appreciate the ability to track coins, get crypto updates, and trade all on one platform.
How Do Blockfolio and Coinbase Work?
Both crypto exchanges let users deposit fiat or crypto funds then purchase altcoins, stablecoins, or tokens. U.S.-based investors must go through an extensive KYC process. However, signing up on the platforms is similar to using any other crypto exchange.
Blockfolio users can take advantage of the portfolio tracking features to see their assets held across multiple exchanges in one spot, whereas Coinbase users can earn crypto by watching short videos or reading guides about various altcoins.
Who Should Use Blockfolio vs. Coinbase?
U.S. residents and beginners will get more use out of the Coinbase platform because it supports a higher number of assets and provides a rich database of information about the cryptocurrency world. Since it works on desktop and mobile devices, Coinbase is a flexible solution for traders.
International users will find a similar selection of coins on Blockfolio, whereas U.S. residents are limited to 19 coins. But, the portfolio tracking feature is excellent for new or seasoned investors.
Can You Use Blockfolio or Coinbase With Other Crypto Exchange Platforms?
The Blockfolio portfolio tracking app allows users to see their investments across hundreds of exchanges, including Coinbase and Kraken. Depending on your location, you may also buy and sell via these exchanges while using the tracking application. Coinbase users don’t have access to other platforms via the Coinbase exchange, but investors can store coins on its standalone digital wallet.
Today, many investors choose to trade on multiple platforms to take advantage of low fees or perks, like earning crypto. Users can withdraw coins from most exchanges and keep assets stored in a hot or cold wallet.
Methodology
We compared Blockfolio and Coinbase by closely reviewing general and advanced features used for cryptocurrency trading, including methods for depositing funds and making trades. We also looked at accessibility for U.S.-based investors, supported coins, and transaction types. Moreover, we considered security measures taken by each platform, overall costs, ease of use, and usability of the mobile apps.
