Coinhako vs Coinbase: 8 Major Differences [2022] Comparison

Coinhako vs Coinbase: 8 Major Differences

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coinhako vs coinbase

Table of Contents

Coinhako is a Singapore-based crypto exchange platform that accepts payments using an SGD wallet supported in Singapore and Vietnam.

Coinbase, on the other hand, is based in the United States and operates in 18 countries, but it only allows you to buy cryptocurrency using a credit or debit card.

Furthermore, you are unable to withdraw your cryptocurrency from their platform.

Here’s a detailed comparison of the two exchange platforms to help you decide on one to choose.

Coinhako vs Coinbase: Company background

Coinhako is a Singapore-based cryptocurrency exchange and the brainchild of Yusho Liu and Gerry Eng, who formed the company in 2014.

Coinbase, on the other hand, is based in the United States and was founded in 2012 by Brian Armstrong and Fred Ehrsam.

The founders of both platforms have ample knowledge and expertise in crypto, but when vetted against each other, Coinbase has a larger crypto trading volume than the two.

Snapshot

Both the platforms appear to be credible businesses with a long history in the crypto space.

It is unlikely that the platforms will suddenly disappear overnight, so company background should not be concerned when choosing between them.

Winner: Tie

It’s a tie as both platforms do exceedingly well.

Coinhako vs Coinbase: Number of coins supported

Both Coinhako and Coinbase support popular cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. And you will have no issue trading these popular cryptocurrencies on either of the platforms.

But the cryptocurrency ecosystem has developed dramatically in recent years.

There are now more digital currencies available, which might be more profitable for investors, so the number of coins supported becomes a crucial differentiating factor when deciding between these platforms.

Coinhako

Coinhako currently offers around 60 coins, of which 21 have complete support, and the rest have partial or limited support only.

The differences between them are described below. However, the options aren’t as extensive as Coinbase.

They’ll suffice if you’re just getting started.

Fully supported coins 

On Coinhako’s platform, you may buy, sell, swap (meaning you can move from one cryptocurrency to another), send, and receive 21 different currencies with full support.

Some of the most popular options on the list include

  • BTC
  • ETH
  • DAI
  • DOGE
  • LTC

 

Click here to see the complete list.

Partially support coins 

Apart from the list above, Coinhako also has a few other coins that you can have on their platform. However, the functions that you can use with them are pretty limited.

38 of these coins are trade-only tokens. You can only buy, sell, or swap them on the Coinhako platform but can not generate any interest (more on that later) or are unable to send or receive them from an external wallet.

1INCH, BCH, DYDX, GAL, LRC, and SHIBA can only be deposited; sending is unavailable for these coins.

And finally, USDT and USDC are special support coins. They can only be deposited in USD or withdrawn to an external wallet.

Coinbase

Coinbase is a massive platform and has over 339 coins available for trade.

However, much like Coinhako, different tier lists determine what you can actually do with the coin.

Some coins are available for Buy, Sell, Send, and Receive, while others may be limited to just receive only. Here is a complete list where you can find which coins are tradable in your location.

One important thing to note for users in Singapore and Vietnam is that popular coins like Bitcoin, ETH, and LTC are only available for Buy, Send, and Receive; you can not sell them using the Coinbase platform, which is a huge downside.

Snapshot 

Cryptocurrency exchange Number of tradable coins
Coinhako Supports a total of around 60 coins with full support for 21 (most popular coins like BTC

ETH and doge) and partial support for 39 coins.

Click here to see the full list.

Coinbase Has a massive library of over 300 coins and is continuously increasing. But in Singapore, there is the limitation of not being able to sell popular coins like BTC and ETH.

Click here to learn more.

Winner: Depends

It’s subjective on your location; for users in Singapore, Coinhako is the clear winner with support for a wide selection of coins and the ability to sell popular options like BTC and ETH, which Coinbase does not currently have.

But Coinbase makes more sense for other users given the massive library of over 300 coins and no restrictions on selling popular coins.

Coinhako vs Coinbase: Funding Methods

There are 4 main ways you deposit money in your cryptocurrency exchange platform.

Coinhako

Coinhako allows you to deposit money into your SGD wallet via Xfers or direct bank transfer.

Directly from your SGD wallet using Xfers

Xfers is a secure payment solution that lets you send money to exchanges like Coinhako. It operates as a third-party, safely storing your cash before the transaction.

However, you must first transfer SGD to your Xfers account and mint them into XSGD – an SGD stablecoin. You may then transfer your XSGD from your Xfers account to Coinhako.

You should keep in mind that you will be charged a deposit fee of around 0.55% on every transaction – charged by Xfers.

Using a credit or debit card

Coinhako supports debit and credit cards and allows you to deposit money but is currently only limited to USD, SGD, and VND currencies.

Direct Bank transfer 

You may also finance your Coinhako account with a bank transfer. You may transfer your money directly to Coinhako using FAST, without deposit fees. You can transfer money in USD, SGD, and VND currencies.

Other e-wallets

Coinhako supports popular e-wallets like GrabPay and allows you to deposit money directly. But it is important to note that GrabPay recently warned its users not to buy cryptocurrency and virtual assets with their eWallet.

According to sources buying cryptocurrencies is a direct violation of their terms and policy. Click here to learn more.

Coinbase

Currently, Coinbase allows depositing money using a debit or credit card. But does not provide any SGD wallets for you to store your assets.

Restrictions of e-wallets persist in Coinbase as well, making it slightly more inflexible than Coinhako.

Snapshot

Cryptocurrency exchange Deposit method 
Coinbase  Only supports bank transfers and deposits using a debit or credit card. Currently have no support for SGD wallet.

Click here to see full list.

Coinhako Accept direct bank deposits from Singapore and Vietnam. Support for SGD wallet using Xfers. E-wallets like GrabPay are supported but it may violate Grabpay policy.

Click here to see the full list of supported deposit methods.

Winner: Coinhako

Coinhako easily wins this round with a wider range of options and overall being more flexible on deposit terms.

Coinhako vs Coinbase: Withdrawal of funds

After you invest in a crypto, you will ideally want to withdraw your investment at some point in time. Therefore, the ease of withdrawing your funds becomes a decisive factor when choosing between the platforms.

Coinhako allows you to directly withdraw your money to your bank account in 3-5 business days.

However, there is a daily limitation of S$20,000 and a monthly limitation of S$100,000.

Coinbase, on the other hand, does not allow you to withdraw your funds in Singapore. This is due to some restrictions placed by the authorities.

Coinbase does not allow you to sell cryptocurrency and have the money added to your credit or debit card either.

You can only use your earnings from Coinbase by sending your cryptocurrency to an external wallet and then get the money transferred from that platform. But this usually translates into unnecessary fees.

If you need to do so, we recommend Gemini for this, as they offer 10 free withdrawals per month!

For our international readers, you’re safe as Coinbase lets you cash out your fiat via direct withdrawals.

Snapshot

Both allow direct withdrawals. However, Coinbase doesn’t allow Singapore users to withdraw directly to their banks.

Winner: Coinhako

We’re a Singapore-based blog, so Coinhako clearly withs this round by allowing an essential feature that all cryptocurrencies must have.

For international readers, Coinbase is the better option here.

Coinhako vs Coinbase: Fees

The most crucial component of effective crypto trading is lowering your costs, and both Coinhako and Coinbase provide low-cost fee structures to aid with that.

However, there are some key distinctions, particularly for traders at various price points.

Here are some of the charges you could face if you use either exchange platform:

Fees for deposits and withdrawals

Cryptocurrency exchange Deposit Fee  Withdrawal Fee
Coinhako  0.55% on Xfers, bank deposit is free $2 SGD per withdrawal
Coinbase Only offer Debit or credit card which is subjected to a processing fee. Currently do not allow withdrawal

Both platforms offer a reasonable fee structure, but the $2 per withdrawal can be a bit excessive for withdrawing small amounts.

Buying and selling crypto

Compared to other international crypto exchange platforms like Binance, both Coinhako and Coinbase has a bit higher transaction fees.

Coinhako: Offers a flat 1% fee on every transaction you make on the platform. This is a bit higher than what you would pay using Crypto.com, which offers 0.4% transaction fees.

Coinbase: On every transaction you make on Coinbase, you are charged a hefty 3.99% fee, which is the highest on any major platform.

When you pair this with the fact that you can only deposit using debit or credit cards which can have a processing fee of up to 3%, Coinbase easily becomes an expensive platform.

Coinbase Pro: When you use Coinbase Pro (their main exchange), the trading fees become much lower than the Coinbase App.

Here are the fees you’ll incur based on how much you’re trading every 30 days:

Pricing Tier Taker Fee Maker Fee
$0 – 10K 0.60% 0.40%
$10K – 50K 0.40% 0.25%
$50K – 100K 0.25% 0.15%
$100K – 1M 0.20% 0.10%
$1M – 20M 0.18% 0.08%
$20M – 100M 0.15% 0.05%
$100M – 300M 0.10% 0.02%
$300M – 500M 0.08% 0.00%
$500M+ 0.05% 0.00%

Stablecoins have their own pairings and fees too:

Stable Pairs Taker Fee Maker Fee
DAI – USDC

DAI – USD

PAX – USD

PAX – USDT

USDC – EUR

USDC – GBP

USDT – EUR

USDT – GBP

USDT – USDC

USDT – USD

UST – USD

UST – USDT

UST – EUR

WBTC – BTC

0.01% 0.00%

Winner: Coinhako

This one is a no-brainer as Coinhako clearly has a lower rate when compared with Coinbase.

This is because Coinbase charges you for debit and credit card payments, which is also the only way of funding it. Despite the lower fees Coinbase Pro offers, the overall fees you’ll incur will be much higher than just using Coinhako.

Coinhako vs Coinbase: Features comparison

Both Coinhako and Coinbase have an array of special features that helps them to stand out from the bunch. Some of the most popular ones are listed below:

Coinbase

Earn interest on your crypto holdings: Earn up to 5.0% APR on your crypto holdings that automatically get added up to your account. This is a neat feature allowing users to maximise their earnings. But the interest rates can widely vary between different coins.

We prefer Crypto.com’s Earn program as there are more coins supported and provides higher APRs.

Coinbase Wallet: Coinbase Wallet is a self-custody wallet that allows you to have full control over your cryptocurrency. This implies that your Wallet’s private keys, which signifies your ownership of the crypto, are held secure on your mobile device rather than on a centralised exchange like Coinbase.com.

This ensures additional security to help protect your crypto holdings. It’s important to note that Coinbase Wallet is not the same as Coinbase.com, and you don’t need a Coinbase account to use wallet features.

Read more:

 

Earn crypto while learning about crypto: Coinbase allows you to earn different coins by taking online courses and watching videos online. This is a win-win situation for you as you can learn about crypto while earning additional coins.

Coinbase Card: You may use your Coinbase Card to spend crypto or US dollars wherever Visa cards are accepted. You may use your card to pay with cash or any of your cryptocurrencies. This feature is currently available only in a few selected countries, click here to learn more.

However, Crypto.com Visa Cards are the superior option.

Private Client: For serious investors who want expert support to manage their crypto holdings can seek personalised support, where a team of highly skilled personnel will share useful market insights.

You also get enhanced security with assets being protected by physical cyber security teams. Multi-user access and restrictions are also supported, enabling several team members to administer your account and limit their degree of access.

Support for crypto with a stable price: Crypto is a volatile investment but with USD Coin (USDC) customers can redeem stablecoin on a 1:1 basis for US dollars. Backed by dollar-denominated assets held in segregated accounts with authorised financial institutions in the United States.

The creation of the CENTRE Consortium, a cooperation between Coinbase and Circle, was important in the development of USDC. In regions where USDC support is available, Coinbase clients with US dollar accounts can swap 1 USDC for $1.00 (and vice versa).

Coinbase NFT: NFTs have taken the world by storm and onboarding the hype train, Coinbase is extending its digital marketplace where you can mint, collect, discover, and showcase your NFTs under one single platform.

Currently, it is only supported in the USA but will soon be available in other parts of the world.

Read more:

 

Coinhako

Multiple account types: Coinhako offers multiple account types depending on the user’s specific needs. Coinhako offers Individuals, Investors, Corporates, and OTC accounts which help maximise returns from investments by minimising fees and managing money flow conveniently.

Coinhako Crypto Wallet service: Coinhako lets users access their super wallet which is aimed to make it easier for Coinhako users to store, transact, and trade a wide range of cryptocurrencies.

The wallet has an intuition interface paired with industry-leading security like cold storage of funds on Coinhako and multi-signature authorisation for the movement of funds and much more.

Earn by gaining interest: Coinhako also allows interest on 8 of its coins. You can hold these coins to get substantial earnings in interest rates. The actual rate can vary between coins like BTC offer 2.45% in annual interest while a lesser-known KSM can earn 10.7%.

The platform also has a number of similar features like offering a mobile app to easily make transactions on the go or equally bad customer support that needs serious interventions. (more on it later)

Similarly, we prefer Crypto.com Earn.

Winner: Tie

It’s a tie; both the platforms have clever features that make using the platform interesting. Coinbase has several ways to earn some extra cash, while Coinhako has a greater potential by offering a greater incentive.

Coinhako vs Coinbase: Security

When it comes to crypto trading platforms, ensuring security is crucial. Hackers are continuously on the hunt for flaws, and it is the platforms’ responsibility to maintain their security up to date.

Unfortunately, both platforms have faced several data breaches in the recent past. Coinhako had to halt its platform but claims no data were leaked.

Coinbase suffered massively and more than 3,500 of its users’ data, including sensitive ones like passwords, leaked on the internet.

Thankfully both the platforms learned from their past experiences and currently store over 98% of their crypto offline in cold storage.

This allows the platforms to take minimal damage in case of unforeseen situations.

Winner: Coinhako

Because Coinhako suffered minimal loss and did not have any sensitive customer data leaked, we have to give this round to Coinhako. Still, both platforms are currently safe, and security should not be a differentiating doctor when choosing between the platforms here.

Coinhako vs Coinbase: Customer Service

It is difficult to find a crypto platform with excellent customer support, and Coinhako and Coinbase have equally bad customer support.

According to Trustpilot, a global standard to compare customer support, none of the platforms do well in this category.

But credit where it’s due, both the platforms encourage you to read blogs and watch tutorials to do some digging of your own, and in most cases, you are likely to find answers online instead of contacting support.

If you do have to contact support on either of the platforms, be prepared to wait a while to get a reply.

Here is what customers have to say about Coinbase and Coinhako’s support team.

Overall Winner

If we had to choose an overall winner, we’d give it to Coinhako.

It has more funding options, has lower (overall) fees, and actually allows us to withdraw our crypto.

Coinbase only lets you fund your account using debit/credit cards, which you will incur extremely high fees from your bank.

However, we think that there are better cryptocurrency exchanges available than Coinhako and Coinbase.

Personally, Crypto.com is an excellent option for newbies as you have an entire ecosystem available – from funding to withdrawals, buying and selling crypto, earning interest, to actually using your crypto earnings for your day-to-day expenses.

Another exchange we recommend is FTX – although it requires a little more knowledge around understanding cryptocurrencies.

Disclaimer: Each article written obtained its information from reliable sources and should be purely used for informational purposes only. The information provided by Dollar Bureau and its affiliated parties is not meant to be construed as financial advice. Dollar Bureau shall not be held liable for any inaccuracies, mistakes, omissions, and losses incurred should you act upon any information listed on this website. We recommend readers to seek financial planning advice from qualified financial advisors. 

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