Exodus and Coinbase are cryptocurrency exchanges that offer Digital wallets, betting, and a variety of cryptocurrencies.
Exodus was founded in 2015 with headquarters in Nebraska, and the U.S. Securities and Exchange Commission (SEC) approved its Class A common stock offering in April 2021 (OTCBB: EXDSQ). Coinbase launched in 2012 and was previously based in California. However, in 2020, it announced that Coinbase would be a remote company and plans to close its San Francisco headquarters by 2022. It went public through a direct listing in April 2021 (Nasdaq: COIN).
Coinbase is a centralized exchange, meaning it oversees transactions and secures assets on your behalf. In contrast, Exodus is a decentralized or distributed exchange. In this case, it provides the platform but does not control your trades. Instead, it supports peer-to-peer (P2P) trading. Cryptocurrency platforms differ in their approach to fees and features. Coinbase remains an excellent choice for beginners or people who want a traditional brokerage experience. On the other hand, Exodus offers more coins and control over assets.
We reviewed both cryptocurrency exchanges by looking at supported currencies, platform features, fees and security. We also evaluated the mobile apps and each exchange overall for ease of use and accessibility
Fees: Variable spread and network fees
Security: Users are responsible for safely storing their crypto, as Exodus doesn’t hold funds or require personal information for accounts
Wallet: Hot software wallet and integrates with Trezor Model T and Trezor One
Transactions Supported: P2P crypto-to-crypto trades
Max. Trading Amount: Unlimited
Apps: Mobile: Android and iOS
Desktop: Windows, Mac, and Linux
Total control over your crypto assets
Integration with Trezor hardware
Earn rewards for staking
Network fees may be higher than Coinbase
Can’t withdraw to a fiat currency
No advanced buying and selling options
Fees: $0.99 to $2.99 plus 0.50% spread per trade, 3.99% for credit card purchases
Security: FDIC-insured USD balances up to $250,000, two-step verification, cold storage, bug bounty program, and insurance against theft
Wallet: Web-based hot wallet software and optional Coinbase hot wallet
Transactions Supported: Buy, sell, withdraw, send, and receive
Max. Trading Amount: Limits vary based on your payment method and region
Apps: Mobile: Android and iOS
Can buy crypto using USD or another fiat currency
Several buying and selling transaction types
Earn rewards for staking and learning about crypto
Higher fees than other centralized exchanges
Advanced features require using Coinbase Pro
Less control over assets that remain on the exchange
Coinbase was founded in 2012 as a place to send and receive Bitcoin. The company has grown to support dozens of unique cryptocurrencies and has more than 2,700 employees worldwide.1 Coinbase is a decentralized company with no main headquarters.
Coinbase operates with users in more than 100 countries, and customers trade approximately $327 billion per quarter. Coinbase manages a robust cryptocurrency ecosystem supporting 9,000 financial institutions.
Coinbase runs two separate trading platforms in addition to a standalone cryptocurrency wallet service. Between the suite of Coinbase products, you’re likely to find anything you need to start and manage a cryptocurrency portfolio or trading plan.
Easy to use for cryptocurrency beginners: The main Coinbase website and mobile app are very easy to use and allow you to buy, sell, and exchange cryptocurrencies quickly.
Support for a large number of cryptocurrencies: Coinbase currently supports over 100 currencies for trading, and the number grows regularly.
Opportunities to earn cryptocurrency: Earn interest on eligible balances, or get a small amount of a new currency through Coinbase Earn.
Lower pricing available with Coinbase Pro: Any user can switch to Coinbase Pro, an active trading platform with more features and low fees.
High transaction fees: Transaction fees are often expensive on the primary Coinbase platform.
Customer service issues: Coinbase gets poor marks for customer service, including in the event of serious account security issues.
No access to trade many altcoins: While Coinbase supports an impressive list of currencies, many are missing.
Cryptocurrencies Available on Coinbase
Coinbase supports trading of over 100 cryptocurrencies and regularly puts new coins on the list. There are too many to list here, so here’s a glance at some of the most popular currencies on Coinbase:
USD Coin (USDC)
Shiba Inu (SHIB)
Stellar Lumens (XLM)
As mentioned above, the company runs two different platforms known as Coinbase and Coinbase Pro. Each allows you to buy, sell, and trade cryptocurrencies but offers unique features.
Trading on Coinbase is beginner-friendly and easy to use for anyone with basic computer skills. Coinbase is available on the web or through Android and iOS mobile devices. If you’ve ever traded stocks through an online brokerage, you’ll find a somewhat similar experience.
On the main dashboard, you’re able to view your Coinbase portfolio, and you’re never more than a couple of clicks away from a screen to buy and sell currency.