| Website |
https://www.coinbase.com |
https://robinhood.com |
| Pros |
- Access to Bitcoin, Ethereum, Litecoin, Dash, and dozens of other cryptocurrencies.
- Most trustworthy and long-lasting Cryptocurrency exchange.
- Provides tax documents for cryptocurrencies.
- Allows transferring your cryptocurrencies to a private wallet.
|
- Simple Signup and account creation.
- Very large platform with millions of active users.
- Allows for investing while transferring money from your bank.
- Unlimited free trades.
|
| Cons |
- Very high transaction fees compared to stock market investing.
- Speculating in cryptocurrencies is dangerous, and can result in 100% loss due to hacked accounts or other attacks.
|
- Signing up is simple, but creates a brokerage (taxable) account.
- Gamification features may encourage you to trade more often.
- No retirement account options.
- Trades go through an intermediary – resulting in longer trade times.
- They can shut off access to individual stocks at any time.
|
| Promotions |
- Get $10 in free Bitcoin by opening an account with $100.
- Earn up to $40 by going through Coinbase tutorials.
|
- 1 random free stock when you sign up and make a deposit valued between $3 and $225.
|
| Fees |
- $0.99 trade fee for transactions $0-$10.
- $1.49 trade fee for transactions $10-$25.
- $1.99 trade fee for transactions $25-$50.
- $2.99 trade fee for transactions $50-$200.
- 0.50% fee for transactions above $200.
- 1.49% trade fee for transactions from a US Bank Account.
- 3.99% trade fee for transactions from a Debit Card.
- Coinbase’s Fees are far higher than investing in the stock market.
|
- No fees are charged directly to you.
- Due to Robinhoods payment flow order, your trades go through an intermediary that allows Robinhood to make money when you trade.
|