Plus, with staking, you can earn up to a 5.0% APY for holding different assets. The exchange's Coinbase Earn feature pays you in crypto for learning about different crypto assets ( see more here). In addition, if you're big on crypto rewards or staking (staking is a process that lets you earn interest from holding certain cryptocurrencies over a set period of time), Coinbase could be ideal for you. Unlike Robinhood (which only lets you trade a handful of crypto assets), Coinbase gives you access to over 80 cryptocurrencies.
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Coinbase Pro also offers FDIC insurance up to $250,000. With the Coinbase Pro account, however, you can take advantage of more advanced features like trading APIs, order books, and charting tools. The standard account only offers things like trading, crypto rewards, interest rewards, digital storage, and mobile access. Retail traders can choose between two different accounts - the Coinbase standard account or Coinbase Pro - when exchanging cryptocurrencies. The platform provides a wide range of services, including crypto exchange services, digital storage, crypto rewards, staking, and more. Can earn interest rewards from staking crypto assets or completing courses on cryptoįounded in 2012, Coinbase is a global cryptocurrency exchange serving individual and institutional investors.Digital wallet storage, educational resources, and mobile access.Read Personal Finance Insider's complete review of Robinhood here » Coinbase pros and cons Pros
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Robinhood mobile app is available on iOS and Android devices.
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The account also gives you access to professional market data, larger instant deposits (these can range from $5,000 to $50,000), and Morningstar professional research reports on roughly 1,700 stocks.Īs for its cash management services, Robinhood gives you a customizable debit card, a 0.30% interest rate on uninvested cash, and access to 75,000 ATMs. The Robinhood Gold account has a $5 monthly fee, but it lets you trade on margin at a 2.5% annual rate. You'll need at least $1 to trade fractional shares, and unlike many online brokerages, Robinhood charges $0 for options contracts (most brokerages charge $0.65 per options contract). Though Robinhood has a much smaller crypto selection than Coinbase, it does offer a wider variety of investment choices. In addition to its lack of minimum account size requirements, Robinhood also offers Robinhood Gold (for margin trading and more advanced users), cash management perks, fractional shares, and American depositary receipts (ADRs).Ĭompared to Coinbase, Robinhood is the best option for traders who want to merge traditional investments (e.g., stocks, ETFs, and options) and cryptocurrencies under the same umbrella.
Online brokerage offering commission-free trading on stocks, ETFs, options, and cryptocurrencies.
Both investment apps let you trade multiple cryptocurrencies like bitcoin, ethereum, dogecoin, and more.īut the platforms each have evident differences that you should consider before signing up. Robinhood and Coinbase are both popular online investment platforms offering a vast range of investment choices for active traders.