Difference Between Coinbase and CoinDCX

Cryptocurrencies are digital currencies which have become the internet sensation these days. Coinbase and CoinDCX are two different cryptocurrencies exchange platforms. Though they are crypto, they have many differences in trading and many factors.

Coinbase vs CoinDCX

The main difference between Coinbase and CoinDCX is their maker fee.
The maker fee of Coinbase is 2%, whereas the maker fee of CoinDCX is 0.6%. They both have different taker fees. The taker fee of Coinbase is 0.04%, whereas the taker fee of CoinDCX is 2.0%. Coinbase did not offer derivatives, whereas CoinDCX offered derivatives.

Coinbase and CoinDCX

Coinbase is nothing but a cryptocurrency exchange platform. The name of the company is Coinbase Global Inc. It is an American company. Coinbase does not have any official headquarters which makes a major disadvantage for Coinbase. Brain Armstrong and Fred Ehrsam founded Coinbase in 2012. By 2021, Coinbase become the largest cryptocurrency exchange platform in Coinbase. Coinbase supports a maximum number of cryptocurrencies. Some products of Coinbase are Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. The selling and buying of cryptocurrencies through bank transfers are introduced by Coinbase in 2012.

CoinDCX is one of the leading platforms for exchanging cryptocurrencies. It is very simple and easy to use. The primary focus of CoinDCX is making crypto an easily accessible one. CoinDCX supports over 200 types of cryptocurrencies. It is a huge number when compared to the Coinbase cryptocurrency exchange platform. CoinDCX is a Singapore-based company where headquarters are located in Mumbai. CoinDCX offers many cryptos other than bitcoins like Ethereum, and other altcoins.

Comparison Table Between Coinbase and CoinDCX

Parameters of comparisonCoinbaseCoinDCX
Total supported cryptoCoinbase support 211 cryptocurrenciesCoinDCX support 122 cryptocurrencies
Active sinceCoinbase is active from 2012CoinDCX is active form 2018
Chief executive officerCEO of Coinbase is Brian ArmstrongCEO of CoinDCX is Sumit Gupta
Number of employeesCoinbase has 1236 employeesCoinDCX has 235 employees
HeadquartersCoinbase has no headquartersThe headquarters for CoinDCX is located in Mumbai

What is Coinbase?

Coinbase is also a professional asset for trading digital assets. Coinbase also has a wallet which is an application for the customers to decentralize the cryptocurrency applications. Coinbase has many products. Coinbase Prime is the best application for institutional customers. Coinbase custody provides advanced-level services. Coinbase comes up with a Coinbase card which is nothing but a debit card for their customers to spend cryptocurrency. Merchants also have an application in Coinbase that is Coinbase Commerce. Through this merchants can do payment service. Beginners can use Coinbase Earn to learn about cryptocurrencies.

Coinbase is one popular and growing platform for exchanging cryptocurrency. The operating income of Coinbase is US$408.9 million (2020), and Net income of Coinbase is US$322.3 million (2020). The Total assets of Coinbase are US$5.86 billion (2020). Coinbase served almost more than a hundred countries. It is a public type company with Nasdaq as traded. Coinbase is a large company with about 73 million users. It is a decentralized company.

Coinbase has many advantages. They are easy to use for beginners, they support a huge number of cryptocurrencies, you can earn cryptocurrencies, using Coinbase pro you can decrease the rate of currencies. Though it has many advantages, it also has disadvantages like high transactions fees, some issues in customer service, altcoins can not be traded. Coinbase has an industry-standard security function to protect its customer information.

What is CoinDCX?

CoinDCX is nothing but a cryptocurrency exchange platform. Since it has numerous cryptos, some scam coins are also present. So you need to check everything before buying or selling cryptocurrencies. Polychain, Bain Capital is the top investor of CoinDCX. Along with these three investors, CoinDCX also has ten more investors. CoinDCX has excellent customer service. They provide 27/7 customer service. CoinDCX has low transaction fees and trading fees when compared to others. his is an advantage for CoinDCX. This will attract more people to use CoinDCX.

CoinDCX has many advantages. With one tap you can buy and sell your trades. CoinDCX accepts all types of payment methods. CoinDCX is available on multiple platforms like desktops, mobile phones. CoinDCX has trading pairs. In Simple, CoinDCX is a straightforward application, with a very simple user interface. Even beginners found it easy to use the COinDCX platforms. They also provide a learning platform for beginners. It is founded by two IIT alumni.

The simple interface of CoinDCX makes it more advantageous for Binance exchange. You need to start an account in the CoinDCX platform to buy and sell cryptocurrencies. You need to give relevant and factual information. Once the details are verified your account is created. After signing up you can easily buy cryptocurrencies. CoinDCX is a small company and has about 7.5 million users. You need to get knowledge about the platform and the crypto you are going to buy is vital for future predictions.

Main Differences Between Coinbase and CoinDCX

  1. When compared to Coinbase, CoinDCX provide better customer services.
  2. Coinbase has more number cryptocurrencies, whereas CoinDCX has less number of cryptocurrencies.
  3. When compared to Coinbase, CoinDCX has fewer transaction fees.
  4. When compared to Coinbase, CoinDCX has a simple or straightforward user interface.
  5. Coinbase has 73 million users, whereas CoinDCX has 7.5 million users.

Conclusion

Coinbase and CoinDCX are two different and popular cryptocurrency exchanging platforms. Crypto become a trendsetter in these years. People are attracted to cryptocurrencies. Cryptocurrencies become legal in many countries. Even the government itself releases its own cryptocurrencies. Digital currencies help to make paperless transactions. Bitcoin is a popular cryptocurrency. Both Coinbase and CoinDCX support many cryptocurrencies. It is crucial to get in-depth knowledge about cryptocurrencies and their trading problems before buying the cryptocurrencies. People are attracted by cryptocurrencies and they are interested in buying. Both Coinbase and CoinDCX provide many features and they have a better user interface to deal with it.

References

  1. https://www.mdpi.com/1448972
  2. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3632186
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