eToro vs Coinbase: Which crypto exchange is better?

eToro and Coinbase are both popular for crypto in the UK but they offer different coins and features. Find out which one could suit you better.

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Coinbase launched in 2012 and is one of the world’s most used crypto exchanges. It describes itself as a decentralised company, with no main HQ. The interface is among the easiest we’ve seen, making it a decent choice for beginners. eToro started in Israel in 2007 as an FX trading platform and now operates a “one-stop crypto” platform as well as share trading services. The brand is well known for its Copy Trader feature allowing “social trading” – where you can copy the trades of others on the platform.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Round 1: Vital statistics

eToro UK Cryptoasset InvestingCoinbase Digital Currency Exchange
Overall rating★★★★★★★★★★
Costs rating★★★★★★★★★★
Exchange locationUKUS
Offers a debit card
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eToro has a UK base among its global offices, and eToro UK is registered with the UK watchdog, the Financial Conduct Authority. Crypto isn’t regulated, but firms that operate in the UK must be registered with the watchdog for anti-money laundering and counter-terrorism checks. Both eToro and Coinbase have a version for professional traders: eToroX and Coinbase Pro. This guide compares the standard versions.

eToro also offers the eToro Money wallet, which is a separate mobile app where you can deposit and withdraw money and crypto. Coinbase also has a wallet; Coinbase Wallet is separate from and you don’t need a Coinbase account to use Coinbase Wallet.

Round 2: Supported coins

eToro UK Cryptoasset InvestingCoinbase Digital Currency Exchange
Number of tradeable crypto assets76256
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On eToro, there isn’t the huge range of crypto coins that you might see on other popular exchanges. However, eToro compensates for this to some extent with a suite of advanced features, the most famous being its Copy Trader function. Coinbase offers far more coins, but that doesn’t mean it’s for advanced traders only – the platform’s interface is well suited to beginners. For the sheer number of cryptocurrencies offered, Coinbase wins this round hands down.

Round 3: Supported fiat currencies

eToro UK Cryptoasset InvestingCoinbase Digital Currency Exchange
Number of supported fiat currencies2123
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There’s not a huge amount to choose between the platforms here, but it’s worth noting that eToro operates in US dollars, and non-US customers pay extra exchange fees.

Round 4: Costs

eToro UK Cryptoasset InvestingCoinbase Digital Currency Exchange
Minimum deposits$50£50
Deposit FeesNoneACH: Free
Wire transfer: $10
SEPA: €0.15
Trading Fee1% plus spreadMaker fee: 0.00-0.4%
Taker fee: 0.05-0.6%
Withdrawal Fees$5 (min. withdrawal $30)ACH: Free
Wire transfer: $25
SEPA: €0.15
Deposit methodsBank transfer, Debit card, eToro MoneyBank transfer, Credit card, Cryptocurrency, Debit card, PayPal
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Fees on Coinbase can be high through the basic platform but are competitive within the Pro version of the platform, which is free to access once you’ve been verified. It’s particularly tricky to work out the fees you’ll pay with Coinbase before you sign up. As we noted above, because eToro operates in US dollars, you’ll pay extra exchange fees if you’re not a US customer.

Winner: eToro

Both Coinbase and eToro have created platforms that appeal to beginners and more experienced users. Both have found a good balance between advanced features and an intuitive UI. And Coinbase has promised more features are coming.

The exchange fees make eToro a less optimal choice for non-US users, but the platform is clearer upfront what its trading fees are.

It’s worth knowing that in October 2021, the accounts of about 6,000 Coinbase customers were hacked and their funds stolen. Coinbase reimbursed users their stolen funds.

The main standout feature that edges eToro ahead – even though it offers fewer cryptocurrencies on the platform – is its Copy Trader social trading function.

*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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