Logan Lerman created the topic: What is the key difference between Coinbase and Bittrex?
Coinbase and Bittrex have been in the cryptocurrency trading business for more than 5 years and are running out of the United States.
As the most popular cryptocurrency exchange platform around the United States of America and Europe, Coinbase has attracted a significant amount of investment capital from its reputable investors, venture capital firms, and even financial institutions and banks such as the New York Stock Exchange, USAA Bank , BBVA. Coinbase's USD balances are FDIC insured up to $ 250,000.
Bittrex does not have the same investment recognition as Coinbase, but it is still seen as a very trusted platform around the world's crypto traders. Bittrex was founded by a group of cryptocurrency enthusiasts with security and development experience from a variety of companies including Microsoft, Amazon, Blackberry, and Qualys.
If you had to pick one over the other between Coinbase and Bittrex, you might have some difficulty because they serve two different purposes. While there is some overlap between the services they offer, they both possess a huge advantage that the other does not have.
Coinbase lets you purchase BTC, LTC, and ETH with USD from your bank account, credit / debit card, or wire transfer, something that Bittrex currently does not support.
Bittrex supports the trading of over 190+ different cryptocurrencies all over the world, whereas Coinbase only lets you buy BTC, LTC, and ETH only in the United States, Canada, and Europe.
Something that many people are doing is to use Coinbase to buy their Bitcoin, and then move it to Bittrex or another exchange to buy other altcoins.
If you are a beginner and are still figuring out your way to enter the cryptocurrency space, Coinbase would be a good place to start. It is safe, easy to use and offers a user-friendly mobile app for its customers.
If you are a trader and looking for a secure and instinctive place to trade in many different currencies, then Bittrex could be your platform.
With that said, both exchanges can be used as complements to each other.
Coinbase offers an easy way to turn your fiat into crypto, and Bittrex offers you a wide range of alternatives to trade amongst.