Abra vs Coinbase | Why Coinbase Exchange Is Clearly Much Better

abra vs coinbase image
Jack Moreau
Apr 2024
7 min read
Fact checked

Abra vs Coinbase: In this comprehensive comparison, we have analysed various factors to help you determine the best exchange. We have examined aspects such as KYC requirements, availability by country, product offerings, trading fees, deposit methods, and much more!

Coinbase

Trade +240 Cryptocurrencies

Earn 5% Interest On USDC

Great UX & Beginner Friendly

Safest Crypto Exchange

Visit Coinbase
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Uphold

+300 cryptos & Staking

Fast & Free Bank Deposits

Regulated: US, CA, EU, UK, AU

100% Proof Of Reserves

Visit Uphold
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Abra vs Coinbase Comparison

Abra
Coinbase
Bybit
Founded
2014
2012
2018
Registered
Mountain View
United States
Singapore
Countries N/A
OFAC
US, CA, UK, CH, SG
Users
2 million
120M
20M
Cryptos
100
+200
+450
Spot Fees
4-5%
0.4%-0.6%
0.1%
KYC Required
Yes
Yes
Yes
Best for
People in Philippines
Earning USDC Interest
Best For Traders
Rating
Signup
Abra
Your Capital is at risk.
Coinbase
Your Capital is at risk.
Bybit
Your Capital is at risk

Abra and Coinbase are both well-known and established cryptocurrency exchanges but they have many differences in terms of their features, user base and available cryptocurrencies.

Abra was founded in 2014 by Bill Barhydt and is registered in the Philippines as Plutus Technologies Philippines Corporation. It is headquartered in Mountain View, California. The platform has over 200 employees and is available in 130 countries.

Abra exchange
Abra exchange

Abra offers a wide range of services, including spot and margin trading, as well as the ability to buy and sell over 100 different cryptocurrencies. The platform has been downloaded over 2 million times and has a solid rating of 4 stars based on 55,000 reviews.

Abra app
Abra app

Abra is known for its user-friendly interface and its accessibility, as it is available in a large number of countries.

On the other hand, Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam and is registered in the United States. It has its headquarters in San Francisco, California.

Coinbase exchange
Coinbase exchange

Coinbase is one of the largest and most popular cryptocurrency exchanges in the world, with over 100 million users mainly based in the US and Europe. The platform has over 5000 employees and is available in 100 countries.

Coinbase app
Coinbase app

Coinbase offers a range of services, including spot trading, recurring buys, staking and earn vaults, lean and earn programs and NFTs.

The platform supports over 200 cryptocurrencies, including Bitcoin and Ethereum, and has been downloaded over 10 million times on Android and iOS.

Abra vs Coinbase KYC Requirements

When it comes to signing up for an exchange platform like Abra or Coinbase, the process is relatively quick and straightforward. Let's take a closer look at each platform's signup process and KYC requirements.

On Abra users have to download the Abra app and provide their name, email, and phone number to create an account. After this initial step, users are prompted to write down a recovery phrase to ensure the security of their account.

It's important to note that KYC verification is required on Abra, which means users will need to submit their personal information and go through a verification process. While the exact timeframe may vary, Abra's verification process typically takes about 2-4 days to complete.

On the other hand, Coinbase offers a quick signup process as well. Users can create an account on Coinbase within just a minute by verifying their email, phone number, and personal information. Similar to Abra, KYC is required on Coinbase.

Coinbase signup
Coinbase signup

Once users have signed up on Coinbase, they will need to submit the required documents for verification, including personal information, a valid government ID, and sometimes even a selfie. The verification process on Coinbase typically takes a few minutes to a few hours, assuming all the documents are accurate.

Abra vs Coinbase Crypto Products

Abra and Coinbase are both popular cryptocurrency exchanges but they offer different products and services to their users.

Abra primarily focuses on providing a simple and straightforward platform for users to buy and sell over 75 cryptocurrencies. The exchange allows users to purchase a variety of crypto assets using their mobile app, which is available for both Android and iOS devices.

Abra earn
Abra earn

Abra also offers lending and borrowing services, allowing users to earn interest on their digital assets or take out loans using their holdings. However, Abra does not support spot trading or provide any kind of leverage for trading.

Coinbase is a leading US-based cryptocurrency exchange that offers a wide range of features and services. Coinbase allows users to engage in spot trading, buying and selling over 200 popular cryptocurrencies like Bitcoin, Solana, Cosmos, Ethereum, Polkadot and many others.

Coinbase spot trading
Coinbase spot trading

The exchange also offers lending and borrowing services for users who want to earn interest or get loans using their digital assets.

Coinbase Borrow
Coinbase Borrow

Additionally, Coinbase provides a non-custodial web 3 wallet and a Coinbase Card, which allows users to spend cryptocurrencies and earn cashback.

Coinbase interface
Coinbase interface

Coinbase recently introduced its own NFT marketplace to meet the growing demand for digital art and collectibles.

Coinbase nft marketplace
Coinbase nft marketplace

Coinbase also offers an "Learn and Earn" program, which encourages users to learn about cryptocurrencies and rewards them with digital assets.

Coinbase Learn
Coinbase Learn

For institutional clients, Coinbase offers Coinbase Custody and an OTC trading desk.In terms of user experience, both Abra and Coinbase have their strengths and weaknesses. Abra's mobile app provides a simple and easy-to-use interface, but it can be a bit buggy at times.

Coinbase Visa Card
Coinbase Visa Card

Coinbase offers a beginner-friendly and easy-to-navigate website, but it frequently experiences connection issues, causing users to wait to log in.

Coinbase Products
Coinbase Products

In terms of liquidity, Coinbase has a higher spot trading volume compared to Abra with Coinbase frequently surpassing $1 billion in daily spot trading volume, while Abra's trading volume is lower.

Coinbase Trading
Coinbase Trading

This higher liquidity on Coinbase ensures that users can execute trades more easily and with better pricing.

Abra
Coinbase
Bybit
Spot Trading
Yes
Yes
Yes
Futures
-
Yes
Yes
Perps
-
Yes
Yes
Margin
-
-
Yes
Options
-
-
Yes
OTC Desk
Yes
Yes
Yes
Copy Trading
-
-
Yes
Trading Bots
-
-
Yes
Staking
Yes
Yes
Yes
Lend & Borrow
Yes
Yes
Yes
NFTs
-
Yes
Yes
Web 3 Wallet
-
Yes
Yes
Debit Card
-
Yes
Yes
Signup
Abra
Your Capital is at risk.
Coinbase
Your Capital is at risk.
Bybit
Your Capital is at risk

Abra vs Coinbase Fees

When it comes to trading fees, Abra and Coinbase offer different options for their users. Let's take a closer look at each exchange's fees and see how they compare.

Starting with Abra, it is important to note that they do not offer any spot, futures, or margin trading. Instead they charge a spread fee when users exchange assets on their app. This spread can be up to 2-4% which is a very high transaction fee.

When it comes to spot trading fees on Coinbase, there is a maker fee of 0.40% and a taker fee of 0.60%. These fees apply when users buy or sell cryptocurrencies on the Coinbase platform.

Coinbase spot fees
Coinbase spot fees

Furthermore, it is interesting to note that Coinbase offers the possibility for users to lower their trading fees. If monthly trade volumes exceed $10,000, users can benefit from reduced fees.

Abra
Coinbase
Bybit
Spot (mkr)
-
0.4%
0.10%
Spot (tkr)
-
0.6%
0.10%
Futures (mkr)
-
-
0.01%
Futures (tkr)
-
-
0.06%
Signup
Abra
Your Capital is at risk.
Coinbase
Your Capital is at risk.
Bybit
Your Capital is at risk

Abra vs Coinbase Deposit Methods

Abra supports the deposit of only two fiat currencies, USD and PHP. For USD deposits, Abra offers two deposit methods: ACH bank transfers and Visa/Mastercard deposits via MoonPay.

ACH bank transfers are completely free, allowing users to deposit funds without incurring any additional charges. However for Visa/Mastercard deposits via MoonPay, there are fees.

For purchases below $141, there is a charge of $4.99 plus 3.5% of the total amount. For purchases above $141, the fee increases to 7%. These are very high deposit fees and much higher than the industry average.

Coinbase offers support for the deposit of three major fiat currencies: USD, EUR, and GBP. Coinbase offers a range of deposit methods for each currency.

Coinbase fiat deposit
Coinbase fiat deposit

For USD deposits, users can choose to deposit funds via ACH (Automated Clearing House) transfers or wire transfers. ACH deposits are free of charge, making it a cost-effective option for users. However, wire deposits come with a fee of $10 USD.

For EUR deposits, Coinbase offers SEPA transfers as the primary deposit method. SEPA deposits incur a fee of 0.15 EUR, making it a relatively low-cost option for European users. Additionally, Coinbase also supports Swift transfers for GBP deposits, which do not have any associated fees.

As such Coinbase offeres more traditional banking methods than Abra by offering ACH transfers, wire transfers, and SEPA transfers. These methods are typically more cost-effective, with minimal or no fees associated.

Abra
Coinbase
Bybit
USD
ACH/Bank Transfer
ACH/Wire
Bank transfer, Visa/MC
EUR
-
SEPA
Bank transfer, SEPA
GBP
-
SWIFT
Faster Payments, VIsa/MC
Signup
Abra
Your Capital is at risk.
Coinbase
Your Capital is at risk.
Bybit
Your Capital is at risk

Abra vs Coinbase Withdrawal Fees

Abra and Coinbase offer various withdrawal methods for users to access their funds. Let's explore the withdrawal methods offered by each exchange and the associated fees.

Starting with Abra, this exchange allows users to withdraw fiat currency via US or PH banks. The best part is that fiat bank withdrawals on Abra are completely free of charge. This means that users can easily cash out their funds without any costs.

Moving on to Coinbase, this exchange offers a wider range of withdrawal methods for users. Fiat withdrawals on Coinbase can be made via ACH, Wire, SEPA, and Swift. ACH withdrawals are completely free, while wire withdrawals have a fixed fee of $25 USD.

Coinbase Withdrawal Fees
Coinbase Withdrawal Fees

SEPA withdrawals incur a minor fee of 0.15 EUR, and Swift withdrawals have a fee of 1 GBP. Coinbase caters to the diverse needs of its users by providing multiple options for fiat withdrawals.

Now let's shift our focus to the fees associated with cryptocurrency withdrawals on Coinbase. If users wish to withdraw Bitcoin, they are charged a fee of 0.0002 BTC. For Ethereum withdrawals, the fee is 0.000768 ETH. Coinbase also supports Solana (SOL) and ERC-20 Tether (USDT) withdrawals, with fees of 0.008 SOL and 3.55 USDT, respectively.

So while Coinbase provides multiple withdrawal methods for fiat currencies and cryptocurrencies with low fees, Abra is much more limited in this regard.

Abra
Coinbase
Bybit
USD
ACH/Bank Transfer
ACH/Wire
Bank transfer, Visa/MC
EUR
n/a
SEPA
Bank transfer, SEPA
GBP
-
Wire/SWIFT
Faster Payments, VIsa/MC
Signup
Abra
Your Capital is at risk.
Coinbase
Your Capital is at risk.
Bybit
Your Capital is at risk
Abra
Coinbase
Bybit
Bitcoin
0.004 BTC
0.0003 BTC
0.0002 BTC
Ethereum
0.0015 ETH
0.003 ETH
0.0006 ETH
Solana
0.008 SOL
0.01 SOL
USDT (ERC-20)
4.9 USDT
2.9 USDT
3.7 USDT
Signup
Abra
Your Capital is at risk.
Coinbase
Your Capital is at risk.
Bybit
Your Capital is at risk

Is Abra better than Coinbase?

In conclusion, both Abra and Coinbase are reputable and established cryptocurrency exchanges with their own unique strengths and features.

In terms of founding and user base, Abra is available in 130 countries while Coinbase is available in the amount of countries but with a much larger user base of over 100 million.

When it comes to available cryptocurrencies, Abra offers the ability to buy and sell over 100 different cryptocurrencies, while Coinbase supports over 200 cryptocurrencies.

In terms of user experience, Abra is only available for mobile while Coinbase can be used via the website or Android and IOS, depending on what users prefer.

In terms of trading fees, Abra charges high spread fees which are more costly than the 0.4% spot fee that Coinbase charges makers.

When it comes to deposit methods, Abra supports USD and PHP deposits with options for ACH bank transfers and Visa/Mastercard deposits via MoonPay. Coinbase supports USD, EUR, and GBP deposits with options for ACH transfers, wire transfers, SEPA transfers, and Swift transfers.

As we review category after category, we notice that Coinbase is simply the more well rounded and superior exchange compared to Abra. While Abra is a smaller more niche exchange in the Philippines, Coinbase has become a juggernaut with a more versatile offering than Abra.

Coinbase

Trade +240 Cryptocurrencies

Earn 5% Interest On USDC

Great UX & Beginner Friendly

Safest Crypto Exchange

Visit Coinbase
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Uphold

+300 cryptos & Staking

Fast & Free Bank Deposits

Regulated: US, CA, EU, UK, AU

100% Proof Of Reserves

Visit Uphold
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.

More Exchange Comparisons