Why COBINHOOD is a strong competitor to Coinbase

Janica San Juan 14 January 2018 NEWS

South Korea crypto In text

COBINHOOD's free model could make a it a key competitor in cryptocurrency.

OPINION: Coinbase is known as one of the world’s leading cryptocurrency exchanges and wallet platforms. However, it seems that it now has a new competitor.

Coinbase is a dominant exchange, with 7.4 million users and availability in 32 countries. As a virtual exchange platform, it allows users around the globe to buy and sell the world’s most popular cryptocurrencies includingbitcoin, Ethereum and Litecoin. Additionally, it provides merchant services as well as wallet services.

COBINHOOD is a cryptocurrency service platform created specifically for small-scale institutional and retail traders. However, while Coinbase charges fees which depend on the transaction, COBINHOOD uses a different model.

Coinbase doesn’t charge for its wallet service but transferring cryptocurrency to an address that is outside the platform will result to a network fee. COBINHOOD’s reason for providing a free high frequency cryptocurrency exchange platform is to help maximise the return on investment of all its users.

The currencies COBINHOOD supports include BTC, BCC, ETH, ETC, LTC, ZEC, XMR, XRP, COB, NEO, OMG, USDT, DASH, IOTA, EOS, REP and GNT.

COBINHOOD discloses all offline and online wallet addresses for public scrutiny in order to ensure that no embezzlement can take place on its platform.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest cryptocurrency news

Latest crypto guides

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site