π² Insider Info in my Socials π
π Robinhood & Coinbase Alternatives π
π Check Out My Merch π
π₯ TOP Crypto TIPS In My Newsletter π
πΊ How enhance exchange security π
~~~~~
– TIMESTAMPS –
0:00β Intro
2:03 Who are They?
6:02 Country Support
7:27 Supported Assets
8:23 Security
12:05 Deposit Methods
14:15 Trading Fees
16:22 Trading Experience
18:18 Customer Support
19:17 Final Thoughts
~~~~~
βοΈ π Useful Links π βοΈ
βΊ Sign up to Robinhood:
βΊ Try Coinbase:
βΊ Available cryptos Robinhood:
βΊ Supported assets Coinbase:
βΊ Coinbase accepted countries:
~~~~~
β Who are Robinhood & Coinbase? β
Coinbase was founded back in 2012 and is one of the most well established crypto exchanges out there. They even got listed on the US stock market this year too.
But how popular is Coinbase? Well, they have over 56 million users, trusted by over 8,000 institutions and log $335 billion in quarterly trade volume.
Coinbase does have an office in San Francisco. However, they have transitioned to a remote-first company over the last year. Despite that, the exchange holds a plethora of licenses
Robinhood was founded in 2013 and this mobile-only broker raised a crazy $5.6 billion in funding. Like Coinbase, they recently launched their IPO.
They are headquartered in California and are a FINRA-regulated broker-dealer. Robinhood are also registered with the U.S. Securities and Exchange Commission
Robinhoodβs crypto product also appears to be wildly popular with 9.5 million people using the app to trade crypto in Q1 of this year.
π Country Support π
Robinhood only accepts US users right now. Those based outside of the US will be glad to know that Coinbase accepts over 100 countries and people in every US State except Hawaii.
πͺ Supported Assets πͺ
In short, Robinhood has a limited selection of just seven cryptos for trading. That includes Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Dogecoin, Ethereum Classic and Litecoin.
Coinbase has around 75 different cryptos on the shelves.
π Security π
Coinbase claims that not a single customer has lost funds due to a breach of the Coinbase or Coinbase Pro trading platform. This being said, users have been caught out by email account takeovers, SIM swap attacks and password breaches. That has led to some customers losing funds.
Thatβs why it is so important to take the security of your crypto exchange accounts seriously.
This being said, Coinbase does store 97% of user funds offline to protect against hacks. The other 3% is kept in insured hot wallets. Oh yes, USD cash balances for US residents are also covered up to $250k under FDIC insurance.
Robinhood also stores the majority of customer crypto offline in cold storage. I have not been able to find the exact percentage. However, Robinhood has crime insurance that protects a portion of the assets
They also have coin management security protocols in place, which means that coin transfers require authorization from a select group of people. This list is constantly changing and is not disclosed internally or externally.
π³ Deposit Methods π³
Robinhood only supports ACH deposits. Coinbase supports bank transfer, PayPal, debit card and credit card. These methods are available on a country by country basis.
π° Trading Fees π°
At Coinbase youβll be charged a spread of 0.5% for crypto buys and sells. On top of that, youβll also be charged a flat fee based on the value of your trade.
Whereas on Coinbase Pro the max fee is 0.5% – so, I would use that instead.
Robinhood markets itself as commission free. However, there is a cost. Robinhood essentially adjusts market orders to limit orders and jacks up the buy orders by 1% and the sell orders by 5%.
πTrading Experience π
Watch the vid for my thoughts on this.
π§ Customer Support π§
Both platforms have had bad reviews when it comes to customer support. So, donβt expect to be blown away by incredible customer support here.
π Disclaimer π
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#coinbase #robinhood #crypto #exchange #bitcoin
Source: Coin Bureau
46 Responses
Which US exchange are you guys using? If Robinhood enables crypto withdrawals, will you be more likely to use them? Keen to hear! Also, I will be doing an in-depth video into Robinhood's scandalous business model which I am sure you guys will enjoy! π Don't forget to follow me on my other social channels for all the content that you are not getting here π https://guy.coinbureau.com/socials/
Isn't it obvious?
I like using pancakeswap
Hey Guy, love your vids man! Really appreciate your unbiased approach. Your vids are very educational and occasionally Iβll share a stat you mentioned with others, and Iβm getting drilled to βsite my sourcesβ so was wondering if you could pls share where you got the stat that only 0.004% of CB users have lost funds due to hacked accounts, etc..I personally like CB but apparently thereβs many people who donβt lol. Iβd really appreciate your feedback!
Can't wait for robinhood to release wallet + staking
People please use condoms nothing else comes close to them in getting the job done
Check out performance of COTI BTC going dowm and COTI PUMP… it could reach 5 due Market Cap. Huge profit in future.
Wish you would've mentioned their plans for staking and transfers on RH
andOTP is an open source 2FA app.
#KRAKENareCROOKS Kraken stealing my songbird airdrops $SGB
please review PolkaDex. They offer best of Dex and Cex
Wouldn't Binance be the better option of these two platforms for U.S. investors?
I've had nothing but issues with Robinhood, I'll never go back. Coinbase for me.
The SEC will be the unelected bureaucratic entity that will destroy crypto for the small investors. They are now literally an extortionist that will be the final arbiter for crypto currencies in the United States. Simply a mafia gang in suits backed by a corrupt US government that is now bowing to CCP control. I see a huge storm just over the horizon. If you own coins, get them off the exchanges and keep them in your pocket. Ride out the storm and see the real cream rise to the top like it's supposed to be in a capitalistic society.
As a UK customer, UK support seemed lacking as Guy said "Cut and Paste answers" and no scooby on an actual answer/resolution. Ended up moving money away as a result and limitting exposure. Assuming eToro operates very similarly to Robinhood
No word about Spreads, which are horrible on some of the Exchanges, which integrate Cryptos? Real hidden costs for newbies imo. π
Please make a brand new video:
-Ethereum+ London Hard Fork + Ethereum 2.0
$ETH to the moon β€οΈ
Damn, I shouda bought more during dip..π€¨
I hold all my ADA on coinbase. Never any issues
I am in Australia and use Coinbase. So am I breaking laws or something?????
It doesn't matter where Robinhood store their coin because they don't have any coin.
Robinhood NEVER! coinbase? if you move your Crypto they block your account! and never help you! 2 worst companies. I stay by far to Binance otherwise they are much beter exchanges to use.
Upload and Robinhood are 110% the Worst ever …..
lastly, most of these US platforms all have very poor and useless customer service from coinbase, robin hood, cash app e.t.c
Hey Guy,
As far as I know, as in the case of Hawaii, residents living in Puerto Rico (US Territory) do not have access to Crypto Assets via the Robinhood app. Nonetheless, thankfully, Coinbase works perfectly fine in this tropical paradise. Lastly, I would like to thank you and your team for all the excellent educational content that is consistently uploaded. It is much appreciated.
Great information bro
I'll NEVER use Robinhood.
Guy, youβre hilarious!
Robin Hood, bunch of thieves β¦ f-them
in my humble opinion, holochain will turn anyone who bought today into a billionaire in 2030. This is not a financial advice.
Who the fuck is buying crypto on Robinhood? You're just shooting yourself in the foot.
Coinbase sucks because of all the fees. They literally rip u off and is a scam. Trading on Robinhood is much better lower fees and transparency. Coinbase has so many hidden shit they do that is so sus
I wouldn't touch either with a bargepole. They both sound like scam companies run by amateurs
VRA is a hidden gem π Real game changer for advertising industry (with PATENT PoV) & e-sport tournamentβs x100 coming ππ
as canadian you have only the credit card option which suck in fees! and we canuse coinbase pro neither, but i do prefer cinbase over robin by far.
Lol.. great wit Guy ..the days of crying on my crypto are over .. now just ..oh fuk I miss it
Anybody else having problems receiving free rewards on coinbase?
DIGITAL POUND incoming
Mass adoption imminent Ripple Labs XRP registered company London π€©π€©π€©
DIGITAL βPound βFoundationβ
Companies house UK π¬π§
Friedman Director – Ripple Attorney
XRP and ADA β€οΈβ€οΈ
Love from Japan π―π΅ to all members of the channel!
did you consider minting your Youtube videos as unique NFTs on Uquid platform?
would you do a video about Etoro as they are planning to ipo as well
I use voyager as i feel its the superior platform. VGX to the moon π
I'm sure someone already mentioned this but if you buy and convert certain stable coins on Coinbase it actually costs zero fees. This is how me and my broke ass friends buy crypto.
hey man i think you should consider your Youtube videos as unique NFTs on Uquid platform
You only need to get about a minute pass the introduction to realize this is a straight up bash fest on the "questionable at best Robinhood platform". Which I could have predicted out of the gates.
If you care for the fundamentals of crypto and want to actually own some of the potential future cryptocurriencies of the world, you shouldn't use Robinhood, because as of now you don't truly own it if you can't custody it yourself.
I know webull compete with robinhood but I have not use it yet