Coinbase (Pro) Alternative
Last Updated on 5 June 2022 by CryptoTips.eu
Are you looking for an alternative to Coinbase or Coinbase Pro? You should check the Bitvavo exchange out. Bitvavo is a Dutch company and also offers benefits for European consumers who pay with euro. The exchange is not only cheaper than Coinbase (Pro), but also support a lot of different payment methods. You can easily pay with SOFORT, GiroPay, MyBank, iDEAL, Bancontact and SEPA Bank Transfer. And you can easily withdraw your profits in euro to your bank account. In this article, we argue why we believe Bitvavo is better than Coinbase.
Why is Bitvavo a good Coinbase alternative?
Coinbase is an American-based company and is a very big brand in the crypto scene. The company use their big name by charging reasonably high costs to their customers. Don’t get me wrong, they are very reliable and deliver what you ask them to. But that is not enough to be a good exchange / broker nowadays. We will compare the costs, the offer, the functionalities and the verifications of both exchanges.
€25 free crypto and €10.000 commission free trading at Bitvavo
Coinbase vs Bitvavo: what are the fees?
As usual, you can register an account with both parties for free. Coinbase distinguishes itself between a normal (broker) section and the Pro section. Both parts can be accessed for free, but differ enormously in costs.
You pay a percentage of fee for every transaction:
- Coinbase: 1.49%
- Coinbase Pro: Max 0.50%
- Bitvavo: Max 0.25%
As you can see, at Bitvavo you pay the least fee per transaction. The difference between Coinbase and Bitvavo is almost 6 times. This means that you pay almost 6 times as much when you place an order with Coinbase.
Example: You want to invest € 100 in Ethereum and you place an order at both exchanges:
- Coinbase: you’ll receive € 98,51 of ETH and pay a fee of € 1,49
- Coinbase Pro: you’ll receive € 99,50 of ETH and pay a fee of € 0,50
- Bitvavo: you’ll receive € 99,75 of ETH and pay a fee of € 0,25
You can save a lot of money when you compare the fees and choose the cheapest exchange. Can you imagine how much you’ll save in the long run? Or when you invest more than € 100.
With Coinbase Pro and Bitvavo, the more you trade, the lower the fees become. Based on the latest fee structure, Bitvavo is almost always cheaper or equal to Coinbase Pro. This makes Bitvavo a very good Coinbase alternative for both trading sections (Pro vs Normal).
Fee comparison
Fee comparison Coinbase Pro and Bitvavo
- Green: Lowest fee
- Orange: Same fee
- Red: Highest fee
The payment methods
The payment methods at Coinbase are very limited, you can pay with SEPA Bank Transfer (1-3 business days), iDEAL, SOFORT and creditcard.
Bitvavo really focuses on an easy platform for everybody in Europe. They support all major payment methods: creditcard (VISA and Mastercard), SOFORT, MyBank, GiroPay, EPS, iDEAL, Bancontact and SEPA.
€25 free crypto and €10.000 commission free trading at Bitvavo
Offer differences between Bitvavo and Coinbase
Bitvavo offers 58 different cryptocurrencies at the time of writing. Coinbase offers 17 different coins and a number of stablecoins.
In terms of offer Bitvavo wins.
Features
At Coinbase you can buy, sell and store cryptocurrency. Just like every other broker, simple and clean. This is also possible with Bitvavo, but they also have a built-in exchange. At the exchange you can open limit and market orders. Coinbase Pro also has the option to add a stop loss. This functionality is coming to Bitvavo soon, but is not available yet.
Also, Coinbase Pro has a lot more users, so the order book is filled with more buy and sell orders.
In terms of features, Coinbase Pro wins.
Verifications
Both parties are required to verify their users, since the laws are getting stricter and stricter. You can’t buy anything on both platforms until you verify yourself. Your ID will be checked during the verification, these checks are mandatory by governments.
Built-in wallets
All parties offer built-in wallets for all offered coins. This means you don’t need any third party software. Keep in mind that the exchange manages your private keys and that you are not officially the owner of your wallet. Storing your crypto online is not the safest way to store it. If you use a weak password, a leaked password or no 2 factor authentication, your assets could be stolen. If you have a good password and 2FA enabled, this is no guarantee that you will never be hacked.
€25 free crypto and €10.000 commission free trading at Bitvavo
Conclusion
Bitvavo scores better than Coinbase in almost all areas. Only with Coinbase Pro you have more exchange functionalities and a higher liquidity, but that will be fixed by Bitvavo team eventually. We recommend choosing the cheapest exchange and stop paying too high fees for companies who have a big name. Do you want to know more about the Bitvavo exchange? Reas our Bitvavo review here and learn how to buy crypto from Bitvavo.
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