At the time of writing this report, there are over 4,000 cryptocurrencies in existence. This segment of the financial business is fast developing and gradually affecting every section of the business.
To manage the business volume of over 2 trillion dollars, there are about 50 crypto exchanges. Some are old and some are new. Some have risen rapidly doing business.
Here we compare the three crypto exchanges Coinbase, FTX, and the US-based FTX US. Simply put coinbase vs ftx vs ftx us.
Coinbase Vs FTX Review
Coinbase and FTX are some of the most popular crypto exchanges. Because of that people frequently ask for reviews of coinbase vs ftx.
Below we compare coinbase vs ftx vs ftx us. And explore further taking up the individual cases.
There are many parameters to compare between crypto exchanges. From a businessman’s point of view, they fall in the following order.
Security, products portfolio, and other services, fees, speed, profitability, reputation, and user experience.
Coinbase Global, Inc., branded as Coinbase was founded in 2012, based in San Francisco. It is one of the oldest American broker trading platforms in digital assets (cryptocurrency).
The Coinbase Exchange was launched in January 2015, which is a US-based Bitcoin exchange for professional traders.
It has a userbase base of 56 million in over 100 countries and traded business of $335 billion in one quarter.
Since 2020, Coinbase operates remotely and does not have a physical headquarters. Coinbase went public on the Nasdaq exchange on April 14, 2021.
Its cryptocurrency exchange its volumes are the largest in the USA. It has a high global ranking.
Those new to trading are better off with Coinbase because of its beginner-friendly interface.
The company rebranded Coinbase Exchange in May 2016 as Global Digital Asset Exchange (GDAX).
On May 23, 2016, GDAX became Coinbase Pro. This was done to offer more advanced facilities to traders. The GDAX exists as it is. Both are part of the same company but on different platforms.
FTX is a subsidiary of FTX Trading Limited. Founded in 2017, based in Antigua and Barbuda, Bahamas. In the United States, the FTX exchange is unregulated. US residents cannot trade on this exchange.
A centralized cryptocurrency exchange, FTX specializes in derivatives and leveraged products. It trades in the most common cryptocurrencies. FTX does not actively trade itself.
There are multiple order types on FTX. Generally believed it suits more to experienced traders and professional trading firms, who are into future and margin trading.
FTX claims it is suitable for both novices and seasoned professionals. FTX provides a wider range of trading products than Coinbase, which provides only spot trading.
FTX has a user base of 1 million and does more than a business of one billion USD in a day.
Reviewing coinbase vs ftx us. As the name depicts FTX.US, a cryptocurrency trading platform, specially launched to comply with US regulations and to operate in the USA for US residents.
Trading was launched on the platform on May 22, 2020. The CEO for FTX and FTX US is Sam Bankman Fried and some other chief personnel are also from FTX.
U.S. based crypto investors can access FTX US, a FinCEN-registered money services business.
FTX US has the same team as FTX and Alameda Research. Some important features of FTX US are.
- An advanced trading platform
- Margin trading available
- Good selection of cryptocurrencies
- Low fees
In this review of coinbase vs ftx vs ftx us, first, we have an overview of the exchange of each organization.
Considered one of the top cryptocurrency exchanges of the U.S. Some plus points are listed below. On Coinbase only spot trading is done.
Users can trade, buy, sell, hold, transfer, and exchange cryptocurrencies with Coinbase’s inbuilt wallets.
- Coinbase’s basic service interface is easy to use and quick. Their interface is very user-friendly.
- Coinbase is considered one of the safest as they keep their assets in an offline cold storage wallet.
- They have a growing list of cryptocurrencies tradeable at their exchange.
- Liquidity is very high
- Coinbase Pro offers cheaper fees, more features, and is free for Coinbase customers.
Some cons are
- A high fee if you don’t use Coinbase Pro
- There have been hacking reports, reducing users’ confidence
- Availability of altcoins is less as compared to other exchanges
As FTX is a non-US incorporated, many US regulations do not apply, and it operates internationally. FTX not only offers spot trading but offers futures, margins, options leverages, and more.
FTX offers a more developed trading environment that includes futures, margins, options, leverage, and more.
The details needed to make sophisticated trades require more interactive user interfaces for such activities.
As a result, the user interface on FTX is a little sophisticated and needs some experience to get more value.
As US residents cannot trade on FTX, FTX US has been floated complying with the US statutes, where residents of the US can trade.
It offers limited services to US citizens as compared to FTX. This is because FTX US has to comply with all US statutes governing the banking and financial rules.
User Interface And User Experience
Below is a comparison of the user interface for coinbase vs ftx vs ftx us.
Coinbase has a simple user interface that attracts more new customers. Sign up and purchasing cryptocurrency takes just a few minutes.
In addition to a learning program, it pays users cryptocurrency to discover more about cryptocurrency.
There was one report of hacks draining users’ accounts on August 24, 2021.
The exchange offers an easy-to-use app for desktop and mobile devices, as well as multiple order types, making it appropriate for both beginners and professionals.
FTX has a robust user interface that can be used by traders of all types and skill levels and types.
Charts are responsive, and the charting window contains advanced charting tools and trading software for crypto products.
Their team is constantly upgrading their systems from the feedback of customers, to make the interface more user-friendly and they report more satisfied customers.
Relatively a new player, their software follows its mother company FTX. Constantly upgrading their UI to make it more user-friendly, especially the mobile app. The goal is to integrate trading on FTX.COM and FTX.US.
A comparison of the trading experiences between coinbase vs ftx vs ftx us is shared below.
Trading on Coinbase is extremely straightforward and geared towards beginners. Android and iOS devices can also be used to access the Coinbase platform.
With Coinbase, you do not have to download any software to trade, as the platform is completely browser-based, including Coinbase Pro.
Free upgrade to Pro for all Coinbase customers.
The fast-growing number of customers is proof of satisfied customers using the FTX trading platform for crypto derivatives and other wide range of advanced trading products.
Relatively new in this field, it is fast-growing and is now on the top platforms for high liquidity and high daily business volumes. It has a sophisticated trading platform.
Coins And Tokens Available For Trading
Below, comparison is made between coinbase vs ftx vs ftx us for the availability of coins and tokens.
Each coin has a different trading restriction and maximum/minimum withdrawal amount.
Many cryptocurrency exchanges only offer to trade for certain fiat currencies such as the US dollar or conversions to/from other cryptocurrencies.
Your country or state of residence may also restrict you from trading some coins. Visit the relevant cryptocurrency website for the latest information for restrictions and permissions.
Coinbase has a solid range of investments and trading options that it plans to expand. There are more than 40 cryptocurrencies available on Coinbase, all are listed here.
- Bitcoin (BTC)
- Ethereum (ETH)
- USD Coin (USDC)
- Aave (AAVE)
- Algorand (ALGO)
- Cosmos (ATOM)
- EThe Balancer (BAL)
- Band Protocol (BAND)
- Basic Attention Token (BAT)
- Bitcoin Cash (BCH)
- Bancor Network Token (BNT)
- Bitcoin Satoshi’s Vision (BSV) (Send Only)
- Celo (CGLD)
- Compound (COMP)
- Civic (CVC)
- Dai (DAI)
- Dash (DASH)
- districtOx (DNT)
- EOS (EOS)
- Ethereum Classic (ETC)
- Filecoin (FIL)
- The Graph (GRT)
- Golem (GNT)
- Kyber Network (KNC)
- Chainlink (LINK)
- Loom Network (LOOM)
- Loopring (LRC)
- Litecoin (LTC)
- Decentraland (MANA)
- Maker (MKR)
- Numeraire (NMR)
- NuCypher (NU)
- OMG Network (OMG)
- Orchid (OXT)
- Ren (REN)
- Augur (REP)
- Synthetix (SNX)
- Universal Market Access (UMA)
- Uniswap (UNI)
- Wrapped Bitcoin (WBTC)
- Stellar Lumens (XLM)
- Ripples (XRP)
- Tezos (XTZ)
- Yearn.finance (YFI)
- Zcash (ZEC)
- 0x (ZRX)
FTX allows for the deposit, trading, and withdrawal of the following fiats/currencies.
FTX allows for over 45 cryptocurrencies to be traded on their exchange. Some major ones are listed below.
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Binance Coin (BNB)
- Tether (USDT)
- FTX Token (FTT)
- Bitcoin Cash (BCH)
- Tezos (XTZ)
- ChainLink (LINK)
- Ethereum Classic (ETC)
- PAX Gold (PAXG)
- Huobi Token (HT)
- Tron (TRX)
- Dogecoin (DOGE)
- UNUS SED LEO (LEO)
- Bitcoin Satoshi’s Vision (BSV)
- BitMax Token (BTMX)
- Cardano (ADA)
- Algorand (ALGO)
- TomoChain (TOMO)
- BiLira (TRYB)
- Cosmos (ATOM)
About 50 Coins and tokens and pairs are available for trading at FTX US. They are listed below.
|Bitcoin / Tether||BTC/USDT|
|Ethereum / Tether||ETH/USDT|
|Litecoin / Tether||LTC/USDT|
|Solana / Tether||SOL/USDT|
|Bitcoin Cash / Tether||BCH/USDT|
|Ethereum / Bitcoin||ETH/BTC|
|Chainlink / Tether||LINK/USDT|
|Solana / Bitcoin||SOL/BTC|
|TRON / Tether||TRX/USDT|
|Litecoin / Bitcoin||LTC/BTC|
|Dogecoin / Tether||DOGE/USDT|
|Sushi / Tether||SUSHI/USDT|
|Bitcoin Cash / Bitcoin||BCH/BTC|
|yearn.finance / Tether||YFI/USDT|
|Uniswap / Tether||UNI/USDT|
|Chainlink / Bitcoin||LINK/BTC|
|Dogecoin / Bitcoin||DOGE/BTC|
|Sushi / Bitcoin||SUSHI/BTC|
|Uniswap / Bitcoin||UNI/BTC|
|Polygon / Bitcoin||MATIC/BTC|
|yearn.finance / Bitcoin||YFI/BTC|
|Aave / Tether||AAVE/USDT|
|Basic Attention Token||BAT/USD|
|PAX Gold / Tether||PAXG/USDT|
|Bitcoin / Brazilian Digital Token||BTC/BRZ|
|Brazilian Digital Token (BRZ)||BRZ/USD|
|Dai / Tether||DAI/USDT|
|Brazilian Digital Token / Tether||BRZ/USDT|
Ease Of Withdrawals And Deposits
Below is a summary of the comparison amongst coinbase vs ftx vs ftx us for the ease of withdrawals and deposits.
Coinbase makes it very easy to withdraw cryptocurrency. A few steps are required to make the purchase, but the funds may take between a few minutes and a few days to arrive in your wallet.
All buys and sells are instant because your local currency is stored within your Coinbase account. SEPA transfers to your bank account and usually will take 1-2 business days. Wire transfers are completed in one business day or more.
FTX claims to process withdrawals quickly. It takes only a few minutes for most withdrawals to be processed. Withdrawals of a larger amount require manual review and may take several hours to complete.
Stablecoin withdrawals are restricted by the speed at which it is created and redeemed.
A withdrawal processed through an ACH network can take three to five business days to reach your bank account.
On weekdays, USD deposits (transfers) and withdrawals are typically processed the same day. Currency conversion can take a little longer for other currencies.
The Coinbase fee system is extremely complex, and many times quite expensive if you’re not using Coinbase Pro. Coinbase’s standard platforms are quite expensive compared to those of its competitors. The ease of use feature might be overlooked by those new to crypto though.
Coinbase’s fee is different for different countries and regions. This review focuses US market only.
|Purchase or Sale
|Rate of Conversion Fee
|Coinbase USD Wallet||1.49%|
|Debit/Credit Card buy||3.99%|
|Wire Transfer||$10 and outgoing $25|
|Instant card withdrawal||Up to 1.5% of any transaction and a minimum fee of $0.55|
The Coinbase fees are tiered, being high for lower amounts and less for higher amounts traded.
Coinbase charges the following flat fees:
|Total Transaction Amount||Transaction Fee|
|$10 or less||$0.99|
|> $10 ≦ $25||$1.49|
|> $25 ≦ $50||$1.99|
|> $50 ≦ $200||$2.99|
FTX exchange does not charge any transaction fee on deposits and withdrawals. A fee is charged for ETH, ERC-20 tokens, or small BTC withdrawals. FTX users can have some discounts if they have FTT staked.
Generally, FTX US has a low withdrawal fee structure.
Deposit and withdrawal fees
|Wire transfer||Up to 1%||Up to 1%|
Below data is for coinbase vs ftx fees and also FTX US.
The Coinbase Pro fees are significantly less expensive and simpler. Digital assets and ACH transfers are free to deposit and withdraw with Coinbase Pro. Wire transfers deposits are $10 and $25 to withdraw.
|Pricing Tier||Taker Fee||Maker Fee|
|$10 – 50K||0.35%||0.35%|
|$50 – 100K||0.25%||0.15%|
|$100K – 1M||0.20%||0.10%|
The values decrease as the pricing tier further increases.
FTX has a tiered fee structure for all futures and spot markets as per below table.
|Tier||30-day volume USD||Maker Fees||Taker Fees|
|2||> 2 million||0.015%||0.060%|
|3||> 5 million||0.010%||0.055%|
Fee discounts can range from 3% to 60% for FTT (native token of FTX) holders depending on the amount held.
The fees below are current as of 30 March 2021.
Platform trading fees are given below. These trading fees apply to unleveraged spot markets. Fees will vary when using leverage.
|30-day trade volume||Maker fees||Taker fees|
Up to 97% of Bitcoins are stored by Coinbase in encrypted, geographically separated, offline storage. Customers are further protected by the fact that all bitcoins stored on online computers are insured.
Keeping coins on your account gives you no control of your private keys.
FTX is secure. By default, they have a strong password and validation system. There are different levels of security for the type of services required. Track & notify of suspicious activity. Whitelisting IPs and wallet addresses.
Each portal is audited independently by a third party for compliance with policies.
FTX US has a strong security system and verification and authentication processes complying with US regulations.
Ease Of KYC And AML Compliance Processes
The KYC process is a legal requirement to prevent money laundering (AML). All exchanges are required to comply 100% for certain financial operations in the US. For certain functions or services, a less stringent requirement may be enforced.
KYC (Know Your Customer) is the process of identifying and verifying a customer is who he is or she claims to be. The process includes multiple steps that help prevent fraudulent accounts from being set up and used.
Buying cryptocurrencies is easy with just a few clicks of the mouse. In order to comply with KYC regulations, Coinbase uses Identity Verification before, or at the time they begin to do business with you.
Withdrawals above $1000 require verification of user ID.
Complying with the US regulations the registration and verification process is simple. To use fiat currencies on FTX US, verification is required.
It is mandatory to use two-factor authentication. Additional security features include IP and withdrawal address whitelisting. Login and withdrawal passwords can be separate.
In addition, FTX monitors for suspicious activity.
Cryptocurrency is not legal tender and the government does not back it. Cryptocurrency is not backed by FDIC or SIPC protections.
The government guarantees for the fiat money held at the exchange. The cryptocurrency insurance is managed by the exchange itself.
Coinbase confirms for the coverage of their hot wallet funds for up to $255 million. These funds are online and open to cyber attacks. Less than 2% of their assets are held in hot wallets.
Normally the company will cover its customers whole, but in case total losses exceed insurance recoveries then there would be partial recovery.
FTX maintains a Backstop Liquidity Fund, which is insurance for the customer’s funds. As per the last audit in May 2021 it was $200 mm, tied to the FTT price.
As per US laws, FTX.US Account is not subject to protections or insurance provided by the FDIC or the SIPC. However, FTX US has announced it maintains its own insurance fund to cover thefts.
Available Countries And Geographies
This scene is changing all time. The exchanges are working all time to expand their business and go global. Many regulations and statutes of different countries are to be met.
Coinbase is currently available in over 100 countries. Customers can convert cryptocurrency in the following regions.
- United Kingdom
- Europe (36 countries, excluding Germany)
In countries where buys and sells are not yet available, one can still use Coinbase’s other features, like:
- Sending and receiving funds
- Storing one’s funds securely with 2-step verification
- The Coinbase Vault
- Periodic payments
FTX is global, except where it is restricted by individual countries. However, FTX excludes the USA, Crimea, Cuba, Sevastopol, Iran, Afghanistan, Syria, or North Korea from its operations.
FTX.US does not operate in the following countries or states.
State of New York, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, or Sudan, Antigua, and Barbuda, Ontario, or non-professional investors from Hong Kong.
People frequently ask how to use ftx in us. It is illegal to use FTX in the USA. For US citizens and residents FTX US has been floated.
Exchange Token Availability
Two platforms are available to Coinbase users: the original Coinbase platform and Coinbase Pro. Both exchange U.S. dollars for cryptocurrency.
FTT is the native token of FTX launched on May 8, 2019. FTT is ERC20 compatible and can be listed on any spot exchange. As of February 2021, circulating supply of FTT is around 94 million tokens and total supply is 345 million tokens.
FTT is available on Binance JEX, HitBTC, FTX, Huobi Global, and Binance. FTX does not use any other exchanges for trading.
FTT/USDT is the native token of FTX US.
FTT tokens are limited to 350 million and no more will be created. Of these 175 million are treasury tokens, to be released in the next 3 years.
Tether reports that there are more than 14.4 billion USDT tokens in circulation as of September 2020, backed by $14.6 billion in assets. The circulating supply of USDT coins is 69 billion coins, and the total supply is 69.3 billion coins.
FTX/USDT is available at Coinbase and Coinmama.
Exchange Staking Availability
Coinbase allows stacking on its platform. By contributing to their stacking pool, one can earn rewards without having to operate their own validator hardware.
Contribution to their stacking pool lowers the barrier to entry and allows investors to start earning rewards without having to operate their own validator hardware.
Stacking is allowed by FTX. Staking in FTT offers benefits such as a maker rebate of up to 0.0030%, and a reduction of maker fees to 0% at 25 FTT staked.
FTX US allows staking of supported assets like crypto purchases, deposits, and fiat balances. One can earn up to 8% APY on the staked assets.
Exchange Crypto Education And Earn Program Availability
Coinbase Earn is an educational Coinbase site where one can learn about cryptocurrency, by registering to learn and earn at the same time, by clearing different stages. It is not available in all countries.
Coinbase offers an affiliate program where a user gets paid for bringing in new customers.
FTX has a help section that contains articles on various crypto topics. There is a section on their website that can assist users with common problems.
If needed users can contact their support personally, by submitting a request by email, or many other options like telegram, and other social media contacts.
FTX has an affiliates program where one can earn money through referrals.
FTX US has an elaborate help section on its website. They have a referral policy also through which customers earn commission by introducing new customers.
Coinbase has an elaborate dedicated service center for its clients and customers. Like they can be contacted by legitimate Email, Twitter, and automated phone service.
Coinbase customer support 00 1 888-908-7930.
FTX has a comprehensive help section where users can browse articles related to various crypto-related topics. The cause of most problems can be found there and users can fix them themselves.
If need be, users can contact FTX’s support personally, by submitting a request by choosing one of the contact options.
A comprehensive help section is available on FTX US, and support can be contacted via email, social media, or Telegram channels.
Coinbase Vs FTX Vs FTX US – Which Exchange Is Better?
Some fitting final words for coinbase pro vs ftx is that Coinbase has a friendly UI and is suggested for beginners. Their main drawback is high user fees. But, they have launched Coinbase Pro to reduce or avoid Coinbase withdrawal fees.
With their spot trading and available portfolios, Coinbase is more suited to beginners in the crypto business.
FTX is considered an advanced exchange with lower fees. Their UI is somewhat more sophisticated built for investors and financial firms. They offer trading in derivatives and leveraged products.
FTX is more suited to advanced users of the crypto business.
No firm and authentic data is available on FTX trading for coinbase pro vs ftx us comparison.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates