Crypto newcomers should be careful, as scammers often operate in the field.
The most responsible and foremost step is to buy coins.
To do this, you must choose a reliable exchange.
In other words, you may straight up lose your investments.
This time, we highlight Coinbase and Robinhood.
They offer security, simplicity, and trading, and what more could you ask for?
We can say that Coinbase stands out for its crypto and payment selection.
The exchange is second to none in this regard.
Robinhood is not as comprehensive, but it has a few tricks up its sleeve.
We’ll cover all the significant details, including features, selection, cost, etc.
Read on to learn more and make better choices.
Full Robinhood Review
The Robinhood app provides opportunities for active investment in various assets. You will find cryptocurrencies, stocks, and ETFs. You can download it on Play Market or the App Store, which is another plus.
You don’t need to deposit if you plan to open an individual brokerage account. But for complete access, pledge $1. Not a lot, right? Currently, you can trade 18 assets, including the most popular ones.
Users can have:
- Individual brokerage account;
- Account for cash;
- Margin account;
- Pensions, such as IRA and Roth IRA.
In addition to essential functions, the exchange offers information necessary for successful transactions. However, only VIP members can view detailed market research. In this case, you need to make a minimum $2,000 deposit, but the future profit is higher – up to 4.90% per year. A standard subscription allows you to make up to 1.50% annually on uninvested funds.
Pros and Cons
The table contains the essential features; check them out for an overview.
| Intuitive interface No monthly fee (for standard accounts only) Commission-free trading with no extra charges Additional features, including forecasts and detailed reviews | No shared or automated accounts available Advanced features for Gold members only Limited to digital currencies |
Full Coinbase Review
You’ll find the Coinbase app in the official Android and iOS stores. Its services include crypto exchange, rewards, staking, digital storage, and more. Although the platform is American, users from all over the world use it. You don’t need to do anything special to use it, just register and start working.
The app now has three subscription types – Basic, Pro, and Advanced. The developers plan to keep two of them, removing Pro. As for the accounts, you can choose:
- Individual brokerage ones.
- Business.
- Pension (in addition to IRA – SEP IRA).
- ESG portfolios.
- Custodial.
Users can buy and sell all common coins (Bitcoin, Litecoin, Dogecoin, Tether, etc.). Users could choose stablecoins recently, but Coinbase has stopped supporting some of them for unknown reasons.
Like Robinhood, only advanced accounts have access to analytics and news. However, the subscription price must be specified personally through the official website. The company offers a 1-month trial period and 0% commissions for extended program members.
Pros and Cons
Similarly, we have put all the most essential things in the table.
| Simple but functional application Latest news and forecasts from the industry 250+ currencies in a few clicks Easy to buy with fiat currencies Three subscriptions to choose from | Slow and inefficient support service High fees, according to some |
Which One to Choose?
Robinhood has a smaller selection, but it is chosen by users to combine traditional investments with digital ones. Consider Coinbase if you use less popular coins; you will find them there. Moreover, the exchange gives rewards for using it, which you can turn into money.
In general, Robinhood is suitable for holders of crypto, stocks, options, and ETFs at the same time. However, Coinbase is unrivaled in the cryptocurrency space. Both provide simple registration in a few clicks and a user-friendly application. If necessary, you can use the browser version.
Written in cooperation with BetPokies.
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