Cryptocurrencies have made a huge impact this year, and with the novel coronavirus spreading around the world, millions of people have started investing in cryptocurrencies. For a long time, analysts and financial experts have been skeptical about cryptocurrencies and their true value. However, over the past year or so, even the most famous celebrities like Snoop Dogg and Elon Musk have started adopting several cryptocurrencies. Even people in India have started investing in cryptocurrency in earnest. According to WazirX, there are more than 1.5 crore holders of cryptocurrency in India.
Bitcoin was the first major cryptocurrency that made the general public aware of the potential of cryptocurrencies. Then came Ethereum, which became a platform for building other cryptocurrencies. Since then thousands of cryptocurrencies have appeared, but only a few have become very popular. However, buying cryptocurrency can be a difficult business. Fortunately, cryptocurrency exchanges make buying and trading cryptocurrency very simple for the general public. In this article, we will compare two cryptocurrencies, Coinbase and WazirX, to educate our readers.
Coinbase vs. WazirX
Many people are searching for the best cryptocurrency exchange in India to invest in. Before comparing the two currencies, it should be noted that Coinbase is not yet available in India. However, there are several ways people can still use Coinbase from India. While there are many aspects to consider when choosing a cryptocurrency, one important aspect is the fees charged.
Coinbase is an international exchange that operates in multiple countries. By the way, Coinbase fees are among the highest in the crypto industry. Coinbase charges a fee of 0.5 percent per transaction. For withdrawal fees, Coinbase charges a flat fee of $0.55, up to 2.0 percent of the transaction value. On the other hand, WazirX charges a 0.2 percent maker and taker fee, which is among the lowest in the industry. Withdrawal fees on WazirX are also low, at Rs. From 5 to 10, depending on the type of withdrawal method used.
However, WazirX often encounters problems during peak trading times. Moreover, the company had issues with payment and server, as mentioned by several users on Twitter. If you are a small trader planning to invest small amounts in cryptocurrency occasionally, WazirX’s low fees and UPI/Net Banking features come in handy. However, if you want to make big investments and do day trading, Coinbase is the best option for you. It is a world-class crypto exchange with impeccable service if you can afford it. You can transfer money and use Coinbase with your international debit and credit cards.
Disclaimer: The information on this website is for educational and entertainment purposes. The information provided on these websites does not constitute investment advice, financial advice or trading advice. Republic World does not recommend buying any cryptocurrency. Cryptocurrency markets are very volatile and crypto investments are very risky. Readers should do their own research on cryptocurrencies and consult with their financial advisor before making any investments in cryptocurrencies.
Photo: CoINBASE and WAZIRX TWITTER