You could also consider a hardware wallet that stores your crypto offline. One thing to watch out for is that the wallet may not support all the tokens you can buy on the exchange. It is easy to connect the Coinbase Wallet to your Coinbase account. However, if you want to have control over your crypto, it's a good idea to consider an external crypto wallet like the Coinbase Wallet.
Coinbase does operate a custodial wallet on its exchange for users who don't want to worry about managing their keys. The Coinbase Wallet is a standalone app, so you can use it even if you're not a Coinbase customer. Here's how those break down: PayPal trading fees: In addition, each platform charges a set fee for each transaction. Both platforms charge a spread of around 0.5%, but the exact amount is only calculated when you make the trade. A spread is the difference between the buy and sell price of an asset - think of it as a commission you pay to use the platform. In terms of trading, Coinbase and PayPal both charge a trading fee and a spread. There's no additional PayPal fee if you want to buy cryptocurrency using your debit card.
PayPal account holders can also top up their balance with cash at certain stores, but this can cost up to $3.95.
#Coinbase app vs coinbase pro for free#
You can deposit money into your Coinbase or PayPal account for free using a bank transfer. Second, you might pay to deposit money, trade, and withdraw funds - and there's very little consistency across platforms on how these charges work.įor example, some cryptocurrency apps and exchanges don't charge for deposits, but then hit you with a big fee when you want to withdraw your funds. First, crypto platforms are not always transparent about how much they charge. It can be difficult to compare crypto fees for two reasons.