Exchange Review

eToro vs Coinbase Australia

Quick-Take: eToro is the preferred cryptocurrency investing platform for Australian investors due to their zero fees and large selection of cryptocurrencies, stocks, ETFs, commodities and indices.

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eToro is the world's largest multi-asset brokerage that offers Cryptocurrency trading, as well as Stocks, ETFs, Commodities, Bonds and Options. This means you can buy and sell digital assets like Bitcoin and Ethereum, as well as crypto stocks like Coinbase, Microstrategy or Robinhood.

Coinbase on the other hand is a specialist cryptocurrency exchange that offers a slick and intuitive user interface. Their main features include the Coinbase Wallet, Coinbase Exchange and Coinbase NFT Marketplace. However, on the exchange is available for Australians.

This eToro vs Coinbase comparison will breakdown both platforms to help you decide which exchange best suits your needs.

Exchanges
eToro vs CoinbaseCoinbase vs eToro
Trading Fees
0%
2.99%
Available Markets
25 Global Stock Markets, 60+ Cryptos, Commodities, ETFs
50+ Cryptocurrencies
AUD Deposit Options
Bank Transfer, PayID, PayPal, Credit Card or Osko
Debit Card or Credit Card only
Crypto Staking & Trading
NFT Marketplace
24/7 Local Support
Overall Best

Table of Contents

eToro vs Coinbase: Features

eToro offers a wide variety of features across multiple asset classes including cryptocurrencies, stocks, ETFs, commodities, bonds, treasury notes and more. Their exchange also allows you to take up to 10x leverage on positions with their CFD contracts. This means you can get $10,000 exposure to Ethereum with $1,000 on leverage.

Coinbase is the biggest and best cryptocurrency exchange in the United States. Their product offers a Coinbase DeFi Wallet, NFT Marketplace and an easy-to-use exchange. However, the DeFi Wallet and NFT Marketplace on Coinbase are only available for users in the USA and not Australia.

eToro vs Coinbase Comparison

Winner: While Coinbase is a widely regarded exchange, the experience as an Australian user is too watered down to use. That is why we recommend eToro as a more diverse platform.

Trading Fees

eToro charges zero fees for any trade that takes place on their platform. This makes them the most affordable option when investing in cryptocurrencies, stocks, ETFS and commodities.

Coinbase on the other hand has some of the highest fees among any centralised cryptocurrency exchange in the world. Their Debit Card or Credit Card only purchases for Australian's results in a hefty 2.99% fee. This is at least 3x the Australian average trading fee on a crypto exchange.

Winner: eToro wins with a 0% fee compared to Coinbase's 2.99% fee.

Available Cryptocurrencies

eToro currently offers over 60 different cryptocurrencies which includes Bitcoin, Ethereum, the major Layer 1 protocols and a range of DeFi, Metaverse and NFT tokens.

Coinbase offers over 300 different cryptocurrencies to their customers in the United States, however the number is only 50 for Australian users. You also cannot sell your crypto on Coinbase after you buy it. You can only withdraw to another wallet.

Coinbase Cryptos vs eToro in Australia

Winner: eToro offers 10 more cryptocurrencies than Coinbase for Australian users.

Security and Licensing

eToro and Coinbase are both licensed Digital Curren Exchanges in Australia by AUSTRAC who are the relevant authority. They also have private companies based in Australia that are regulated by the Australian Securities & Investments Commission (ASIC).

Winner: This one is a tie! Both Coinbase & eToro have the requisite licensing to run a cryptocurrency exchange in Australia and are both secure platforms.

Deposit Methods

eToro offers the widest variety of Australian Dollar (AUD) deposit methods ranging from Bank Transfer to Debit Card, Credit Card and even PayPal. Their platform charges zero fees for AUD deposits via bank transfer with PayID if you transfer over $1,000 AUD. For other deposits it is a 0.5% flat fee.

Coinbase only offers Debit Card or Credit Card deposits for cryptocurrency on their platform. For this service, they charge a 2.99% fee which is the most expensive out of any exchange in Australia.

eToro AUD Deposit

Winner: eToro fees are 0.5% to deposit versus Coinbase who are 2.99%

Final Verdict: eToro vs Coinbase

Overall, eToro is the better digital asset trading platform than Coinbase for Australian users. Their fees are lower and they offer more assets to trade across a variety of asset classes. eToro also has significantly lower fees than Coinbase who charge an outrageous base fee of 2.99%.

For a deeper dive into the platform, you can read our eToro Review.

Visit eToro

Author Bio

Timothy Wilson was a former Prop Trader for a notable crypto trading fund based in Hong-Kong. He built BCA after deciding he wanted to focus his career on educating new users about Crypto and DeFi.

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