IQ Option vs Coinbase

IQ Option vs Coinbase

IQ Option vs Coinbase

Everyone’s getting into cryptocurrency trading these days. However, you can’t do that on your own – you need to open an account with a company specializing in this kind of trading first. Websites offering this kind of service are called cryptocurrency exchanges, but they are not the only option you have. More and more brokerage companies are realigning their offer to suit their clients’ new needs. The consequence of all that is an increased number of available choices, so choosing the right company to trade with should not be taken lightly. After all, it’s your money that’s on the line. That’s where we come in – we examine your potential partners to save you time and provide advice through articles such as this IQ Option vs Coinbase review. Read on and learn what each of them has to offer.

IQ Option vs Coinbase coins

The first thing we want to look at is the selection of supported coins you can find on each website. You’d think that IQ Option is at a disadvantage here because they are a broker dedicated to pretty much all kinds of trading, while Coinbase specialises in cryptocurrencies, but the truth is IQ Option actually offers more cryptocurrencies. All the most popular coins are there, fourteen in total, from Bitcoin and Ethereum to the likes of Zcash, Neo, Stellar and more.

Coinbase became famous primarily thanks to its dedication to Bitcoin trading, but today they also offer Litecoin, Ethereum and Bitcoin Cash. Still, this is a much smaller selection of assets than what its opponent has to offer. If, for example, you’re looking to trade Zcash, IQ Option will have to be your choice. Because of a bigger variety of coins, we have to give the first round of this IQ Option vs Coinbase clash to the broker. But things are far from over. Stay with us and see why we say that.

IQ Option Cryptocurrency Trading

IQ Option Cryptocurrency Trading

IQ Option vs Coinbase platforms

If you’ve read our IQ Option Cryptocurrency Trading article, you know how much we liked what we saw there. The interface is well designed and intuitive, you have loads of analytical tools at your disposal and the platform in general is quite advanced. Definitely, you’ll love it here, especially if you’re more of a casual trader than a true trading pro.
However, Coinbase takes this to a whole new level. For start, they actually have two different trading platforms, Coinbase Exchange and GDAX. The former is meant for primarily casual traders, enthusiasts and retail customers, whereas the latter has a much more professional and serious vibe to it. But that’s just the beginning of what you can do on Coinbase’s website. With their help, you can integrate the four cryptocurrencies this exchange supports into your app or business or even create a completely new product. You can also create wallets, get price information and much more. So, apart from simply trading here, Coinbase will provide you with everything you need to do business in cryptocurrencies, which is a big advantage over its competitor. Our IQ Option vs Coinbase duel is now tied, but we have more things to examine. Will we have a clear winner?

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IQ Option vs Coinbase finances

In an article like this, it is impossible to skip the financial aspect of trading on each of the websites, so we will now take a look that part of the two offers. Now, if you’re not new to our website, you know that IQ Option has some of the lowest financial requirements of all brokers. You only need 10$ to open your account and you can start opening your trades with a single dollar. The thing is, Coinbase is on the same level! With them, you can buy or sell starting with just one dollar. What we will say, however, is that, unlike Coinbase, IQ Option accepts e-wallets.
So, what do we do now? Well, we have to check the fees. IQ Option’s policy on that is pretty straightforward: you will be charged 2.9% whenever you open a trade, 0.05% + 0.001 BTC for every BTC withdrawal and 0.0007 ETH for every Ethereum withdrawal. With Coinbase, things are not that simple because their fees depend on where you are in the world and which payment method you’re using. For example, if you use a credit card in Australia, the fee will be 3.99%, but if you use a US bank account, the fee will drop down to 1.49%. There are many more countries/regions included in this policy, too many for us to analyse them all here, but they usually range between the two mentioned numbers. In the end, we can conclude that there is very little between these two companies in terms of quality – no matter which one you pick, you’ll be in good hands.

Coinbase Home Page

Coinbase Home Page

Conclusion

It’s been a long hard fight between these two, and it’s actually not that easy to say who came out on top in this IQ Option vs Coinbase review of ours. Both companies have their advantages, so your choice will depend a lot on what you’re aiming to do. If you’re more of a casual trader and want to just trade the most popular cryptocurrencies, IQ Option could be more attractive to you because of the larger number of coins it offers. On the other hand, if you’re a pro or you’re looking to do something more than just trading, such as allowing your business to accept cryptocurrencies or creating a brand-new app, Coinbase is likely to be your choice. It is also worth mentioning that both websites have some really low financial requirements, which is certainly one of the main reasons why both of them are at the very top of the industry. So, apart from making it very easy to start trading, they also make it quite affordable. In any case, you are surely in for a treat, no matter which of the competitors you choose. They both offer an excellent trading experience, and all you have to do is make the most of it. Best of luck!

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Author: Ben Prescott
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