Coinbase vs Coinify: Which Platform is the Best for Trading Crypto?
Coinify vs Coinbase, which one is best for you?
There are many different cryptocurrency trading platforms out there, and it can be difficult to know which one is best for your needs. In this article, we will compare two of the most popular crypto exchanges: Coinbase and Coinify. We’ll cover the pros and cons of each platform so you can make an informed decision on which one is right for you.
When did Coinify launch?
Coinify is one of the newest crypto exchanges on the market and it was launched in October 2017. The company has a well-developed infrastructure that makes trading Bitcoin, Ethereum, Litecoin, Ripple, Dash easy for anyone who wants to invest or trade cryptocurrencies.
The Coinify team consists of security experts from around the world who have experience working at companies such as Microsoft’s Windows division & Google Chrome browser engineering teams. They also provide fraud protection – so you can rest assured your money will be safe when doing business with them!
How many cryptocurrencies are listed on Coinify.com?
As of now, there is a total of three cryptocurrencies on Coinify, these include Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
Coinify offers the following services:
Trading Crypto Currencies
Margin trading with up to 50x leverage in BTC/EUR or ETH/EUR pairs. This is truly an international platform as you can trade all major fiat currencies like USD, EUR & CAD too!
Advanced Charting Tools
This includes candlestick charts for analyzing market sentiment using various indicators such as trend lines, support & resistance levels, and drawing tools which make technical analysis much easier for traders. There are also many different chart types available for a variety of purposes from displaying crypto prices over time to showing volume traded
What are the fees on Coinify.com?
There are no trading fees on Coinify.com for buying and selling cryptocurrencies, however, there is a fee to withdraw money from the exchange.
This means that you can trade without any added transaction costs or commission charges just like with Coinbase!
Registering is easy with just your email address, password (which must include at least one capital letter), and a phone number for SMS verification. You will need to upload an ID scan from where your account resides, but other than that there are no requirements beyond filling out some basic personal information such as name, date of birth, etc.
The next thing to do is choose which crypto coins you want to buy – Bitcoin BTC/EUR or Ethereum ETH/EUR. The prices are shown in USD ($) on Coinify already show what the equivalent price would be when converted into Bitcoins (BTC=X).
After choosing your preferred currency pair and completing the transaction, these coins will be transferred from an online wallet on Coinify into Your personal wallet address for that particular crypto-currency.
What are the pros and cons of Coinify?
Coinify is a one-stop-shop for all your crypto needs. All transactions are done in fiat, so they don’t require any KYC standards which can be problematic as customer ID scans may not even have been taken when the account was opened.
The pros of using Coinify include:
Fast and easy signup process
Choose from over 100 cryptocurrencies to buy or sell
Low trading fees that only take 0.25% per purchase/sale transaction – these range from 0%-0.75%. Be aware though that you will also need to pay an additional fee on top of this if you choose the wire transfer payment method (upwards of EUR 20)
Paying bank fees for transferring fiat currency to or from your account which can be extensive, depending on the country you are in and how much money is being transferred (upwards of EUR 20). There have also been other reported cases where it has taken weeks for transfers to go through without an explanation as to why this would happen. This could cause problems if someone were investing a lot at once because their investment would only take effect after the transaction was cleared into the Coinify account – potentially leading them to miss out on opportunities with higher rates when they wait too long before trading again.
When did Coinbase launch?
Coinbase is one of the oldest crypto exchanges on the web and has been operating since 2012.
Coinbase is a crypto-to-crypto exchange, which means that there are no fiat currencies involved in any trades – only cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC). Coinbase charges some of the lowest fees on the market for both makers and takers: 0% to trade between two different types of cryptocurrency while trading with USD results in a fee of ~0.75%. While it does not offer margin lending/trading as most other exchanges do, Coinbase makes up for this by offering reasonable withdrawal limits (~$25K per day)
Is Coinbase safe to use?
Yes, Coinbase has been used by many people since 2012 and it is safe to use.
Coinbase has two-factor authentication (a bank-level security measure) that any user can turn on at any time, which makes your account even more secure. Coinbase also stores 98% of the cryptocurrency assets offline so they are not subject to damages from hackers or computer failures like other crypto exchanges have suffered in the past.
There are no reported cases of coinbase being hacked for its users’ funds but there was a case where an individual tried to withdraw $123k and instead just withdrew $16k as a test before withdrawing $500K. The withdrawal limit somehow got increased by 1000x!
Who is the team behind Coinbase.com?
Coinbase is founded by Brian Armstrong, a former Airbnb engineer, and Fred Ehrsam, a former Goldman Sachs trader.
The company is headquartered in San Francisco with offices in New York City (Coinbase Markets), Chicago (Coinbase Consumer Support) and Portland (Coinbase Commerce).
How to buy crypto on coinbase.com?
This process is really simple, all you need to do is deposit fiat with either your credit card or a bank transfer.
Coinbase then converts the fiat into cryptocurrency and provides them to you.
The process is quite fast, in an average of less than a day there’s no need for any long wait time like other exchanges.
If you’re looking for some advice on how to buy Bitcoin or Ethereum (or both) this might be your best bet! After all, it was one of the original crypto companies and has done more than its fair share of growing with the industry. The site also allows instant buys so if you have funds available from your credit card they will show up as soon as possible at which point you can convert them right away without waiting days on end, just click ‘buy.’ In fact, Coinbase is very user-friendly offering a straightforward
What are the pros and cons of Coinbase.com?
Reasonable prices: Prices for buying cryptocurrencies on Coinbase are usually very competitive. This might be the best way to buy Bitcoin and Ethereum if you’re looking for a quick, simple solution with low fees. – Security: The company is rigorously regulated by financial authorities in order to ensure that customer assets are safe.
Ease of use: As an investor, some people prefer having things as easy as possible. For those who don’t know much about crypto trading, it can seem like too big of a hurdle so they choose not to invest at all. That’s why sites like Coinbase make it easier because many new investors may have never bought cryptocurrency before or had any experience whatsoever and this site has been designed specifically for them to provide multiple easy options to start.
What are the cons of coinbase.com?
Security: Although Coinbase is regulated and the company has an excellent reputation, its platform does not offer as much security as some other platforms because it doesn’t allow for a two-factor authentication process.
Ease of use: If you are someone who realizes that they will need to do more research on how cryptocurrencies work in order to trade them effectively then this site may not be so easy for you. It’s designed with simplicity in mind but if you want something that will require less time spent figuring things out then it might be worth your while to go somewhere else.
Buy/sell limits: Some people like having high buy or sell limits on their accounts whereas others don’t think there should even be any restrictions at all.
The conclusion of the blog post: Coinify vs Coinbase, which one is best?
Coinbase.com is a better platform for trading cryptocurrencies than coinify.com because it allows for more trades and transactions with its users, has high buy/sell limits and doesn’t have any restrictions in place that might be limited to other people. I hope this was helpful!