Coinbase vs Wazirx: Difference and Comparison

Blockchain is the most revolutionary aspect of the modern world. It has also affected the investing strategies by the introduction of cryptocurrencies.

Various platforms allow users to invest in different cryptocurrencies with assurance and security. The two most common platforms for the exchange of cryptocurrency are Coinbase and WazirX.

Key Takeaways

Coinbase is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies, including Bitcoin and Ethereum. At the same time, WazirX is an Indian cryptocurrency exchange offering peer-to-peer trading.

Coinbase is more widely recognized and used globally than WazirX, primarily used in India, and offers a wider variety of cryptocurrencies than WazirX.

Coinbase is a more established platform with a higher level of security and more robust trading features. At the same time, WazirX is a newer platform that offers lower fees and a simpler user interface.

Coinbase vs WazirX

Coinbase is a digital currency exchange headquartered in San Francisco, United States, where traders buy, sell, and store cryptocurrencies like Bitcoin, Ethereum, and more. WazirX is an Indian cryptocurrency exchange and wallet provider where users can trade digital assets like Bitcoin, Ethereum, Ripple, Litecoin, and many others.

The mode of operation of Coinbase is remote-first. So the platform does not have any headquarters.

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Finance Quiz

Test your knowledge about topics related to finance

1 / 10

What is the formula for calculating compound interest?

A=P(1+rt)

P*(1+r)^n

P(1+r)^n

A=P*(1+rt)

2 / 10

The shares of well-established, financially strong and big companies having remarkable Record of dividends and earnings are known as:

Growth shares

Cyclical shares

Income shares

Blue chip shares

3 / 10

What is the primary goal of financial planning?

Increase wealth

Minimize tax liability

Maintain financial stability

Improve credit score

4 / 10

The appreciation in the value of security or asset is called as:

Current return

None of these

Capital return

Total return

5 / 10

Share capital is

Money given to a company by shareholders in return for a stake in the business

Business borrowing capital from a financial institution

Capital shared amongst owners

Capital shared with shareholders

6 / 10

What is the difference between saving and investing?

To save means to put money where it will grow very slowly (or not at all), and to invest means to put money where it will grow much faster

To save means to put money in a vehicle that is safe, protected from loss, and has guaranteed growth, and to invest means to put money in a financial vehicle or asset that has a certain amount of risk and no guarantees of growth

To save means to put money into any kind of an account at a bank, and to invest means to put money into a brokerage account

There is no significant difference between saving and investing. The words mean essentially the same thing and can be used interchangeably

7 / 10

What is the difference between stocks and bonds?

Stocks offer guaranteed returns, bonds offer higher potential returns.

Stocks represent ownership in a company, bonds represent debt.

Stocks are high risk, bonds are low risk.

Stocks are only traded in physical form, bonds are only traded digitally.

8 / 10

Government grants are generally offered to businesses in:

Properous areas

Economically deprived areas

Areas with high employment

Cold areas

9 / 10

What is a bull market?

A market with decreasing stock prices and pessimistic investor sentiment

A market with increasing stock prices and optimistic investor sentiment

A market with no change in stock prices and neutral investor sentiment

A market with high stock prices and low investor sentiment

10 / 10

What is the full form of "LLC"?

Leverage Level Committee

Limited Liablity Company

Lender of Last Commodity

Limited Libility corporation

Your score is

The peak trading times of Coinbase are smooth and the users do not face any server issues or payment troubles. The fees charged by Coinbase are comparatively high.

While, the headquarters of WazirX is in Mumbai. The peak trading times of WazirX can be troublesome and many users have criticized about server issues on the payment problems faced during trading.

The fees charged by WazirX are quite low and are considered beginner-friendly.

Comparison Table

Parameters of Comparison	Coinbase	WazirX
Minimum trade	The minimum trade in the platform is 0.0001 XBT	The minimum trade in the platform is $14.50
Additional features or bonus	The platform provides £5 or $5 in the BTC with the application of all the terms and conditions	None
P2P Trading	The platform does not support P2P trading	The platform supports P2P trading
Spot training	The platform supports spot training	The platform does not support spot training
Spread	The spread of the platform is in BTC 0.1% and ETH 0.1%	The spread is variable

What is Coinbase?

Coinbase is a public American company called Coinbase Global Inc. It is a platform for the exchange of cryptocurrency. The type of operation in the company is remote-first and hence there are no physical headquarters yet.

The foundation of the company was in June in the year in 2012. The founder of Coinbase is Fred Ehrsam and Brian Armstrong.

The trade name of Coinbase is Nasdaq: COIN. The company serves over 100 companies in the crypto exchange platform.

The products which are offered under the platform are Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and exchange of various other digital assets. The estimated revenue of the company as of 2020 was above 1.14 billion dollars.

Coinbase has over 1300 employees. The company went public on 14th April 2021 through a direct listing on the Nasdaq exchange.

The naming of the company was after Coinbase transactions in cryptocurrency which serves as proof of work in the special transactions. The initial service provided by Coinbase was of buying and selling bitcoins through bank transfers.

The first investment in Coinbase was by Fred Wilson from Union Square ventures of about 5 million dollars. The first 1000,000 users of the company were hit in the year 2014.

After which the company had acquired the web bookmarking company called “Kippt” and the blockchain explorer service is called “Blockr”. engineermpany offers products for retail traders as Coinbase Pro and Coinbase Wallet.

For institutional traders, it has Coinbase Prime and Coinbase Custody.

What is WazirX?

WazirX is an Indian platform for cryptocurrency exchange. The acquisition of the company was by Binance in the year 2019. The platform was founded by Nishchal Shetty in the year 2018.

The founder belongs from a computer science engineer background. There are over 7.3 million active users on the platform as per statistics of August 2021.

The platform WazirX had launched a token in February of 2020 which was known as WRX token and was based on the Ethereum chain and the Binance chain. Initially, WazirX did not have any NFT platform.

However, it has now launched the NFT platform in March 2021. The Enforcement Directorate had sent a show-cause notice to WazirX in June 2021 as the company had a cryptocurrency transaction of 2790 crore rupees.

The company WazirX has a record of trading 38 billion dollars in a year. This record was set in November 2021. During the same month, the application had witnessed heavy user activity which lead to the crashing of the server numerous times.

So the Indian government decided against introducing a new bill of cryptocurrency in the parliament which could lead to the banning of private crypto.

The headquarters of the cryptocurrency platform WazirX is in Mumbai. The platform supports the exchange of crypto in a diverse range of tokens. The availability for purchase can be done in USDT, INR, BTC, and other native tokens of WRX.

The application is supported in various Operating Systems like iOS and Android. However, the platform does not provide Robo advisor, machine learning, or negative balance protection like other cryptocurrency exchange platforms.

Main Differences Between Coinbase and WazirX

Coinbase was founded by Fred Ehrsam and Brian Armstrong while WazirX was founded by Nishchal Shetty.
Coinbase is an American cryptocurrency exchange platform while WazirX is an Indian cryptocurrency exchange platform.
Coinbase does not have any minimum deposit while WazirX has a minimum deposit of 100 rupees.
The payment methods used in Coinbase are Western Union and Silvergate Bank Transfer while the payment methods used in WazirX are Wire Transfer.
Coinbase has a CBol regulator while WazirX operates unregulated.

References

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Chara Yadav

Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.