eToro offers a diverse selection of products and services. These include crypto trading and staking, a copy trading feature, mobile and desktop compatibility, a virtual trading platform, an OTC desk and more. The exchange also allows users to take up to 10x leverage on positions with their CFD contracts. This means you can get $10K exposure to Ethereum with a $1K position on leverage.
Coinbase is the biggest and best cryptocurrency exchange in the United States. Their product offerings include a Coinbase DeFi wallet, NFT marketplace, plus spot and derivatives trading. However, the DeFi wallet and NFT marketplace are only available for users in the USA and not Australia.
Winner: eToro gives Aussie investors access to a wider range of features when compared to Coinbase.
eToro doesn’t charge any fees to deposit AUD to the platform and withdrawals to bank accounts are $5 per transaction. As for the trading (buy/sell) fee, it is 1% of your total transaction amount for cryptocurrencies, and there are zero fees to trade any of the other assets on the platform.
Coinbase has some of the highest fees among any global centralised cryptocurrency exchange. The debit/credit card deposits charge a 3.99% fee, and withdrawals range between 1% - 2%. The trading fee is extremely high, ranging from 2% - 4%.
Winner: eToro has considerably lower fees than Coinbase and provides free AUD deposits.
AUD Deposit Methods
eToro provides the widest variety of Australian Dollar (AUD) deposit methods. Aussie investors can use the following payment methods on eToro - bank transfer, credit card, debit card, PayPal, POLi, Skrill or Neteller. All of the deposit methods will be instantly credited to your account besides bank transfers, which can take up to 2 business days.
Coinbase only supports debit or credit card deposits for cryptocurrency on their platform.
Winner: eToro supports more AUD payment methods than Coinbase with seven options to choose from.
eToro currently supports 80+ cryptocurrencies, including Bitcoin, Ethereum, the major Layer 1 protocols, and a range of DeFi, Metaverse and NFT tokens. In addition to crypto, eToro also offers over 3000 stocks, indices, ETFs, fiat currencies and commodities.
Coinbase offers over 150 cryptocurrencies to its Australian users.
Winner: eToro offers more assets overall than Coinbase but supports fewer cryptocurrencies.
eToro is registered with AUSTRAC and licensed by ASIC in Australia, making it a highly secure digital asset exchange. Established in 2007, this exchange has consistently demonstrated its security and resilience by preventing cyber attacks and security breaches.
Coinbase is considered one of the world's most secure and trusted digital asset exchanges in the world and has obtained the ISO27001 standard security certificate, proving it’s a safe platform. It is also registered and licensed by AUSTRAC and ASIC.
Winner: Coinbase is considered the third most secure cryptocurrency exchange in the world and has won awards for its outstanding security practices.
eToro provides 24/7 customer support in 18 languages and can be contacted via live chat, email, and popular social media networks like Instagram, Twitter, YouTube, and Facebook. Boasting an impressive 4.3 star score from over 20,000 Trustpilot evaluations, eToro's trading platform is repeatedly commended for its responsive and effective client support.
Coinbase also offers 24/7 customer service but doesn’t have multi-lingual support. The team can be reached via live chat, email and several social media channels like Facebook, Twitter, Instagram and Discord. The platform has a low 1.4 star rating on Trustpilot, with most users complaining about the customer service.
Winner: eToro has a much higher rating on Trustpilot and provides support in multiple languages, creating a diverse trading experience.
To summarise, eToro is the better digital asset exchange for Aussies when compared to Coinbase. eToro’s fees are lower, there are more assets to trade, better features and user experience, plus it has a responsive and helpful customer service team. It is widely regarded as one of the best trading platforms globally and is suitable for both beginners and experienced traders.