Coinbase and Blockchain boast of one the largest user base in the digital currency ecosystem. Both the platforms might look similar but are very different from each other. Today Cointogeek has prepared blockchain vs coinbase a guide for you to decide which platform is suitable for your need.
Coinbase is one of the most used digital currency exchange based in San Francisco, California.
Blockchain is one the worlds most used and secure web wallet based in Luxembourg.
Ease of Account setup
Opening a Coinbase account is not a big task. It only needs your basic information and you are ready to go.
Opening an account on Blockchain is almost similar to Coinbase but in Blockchain login is done through an identifier provided at the time of account setup via mail.
Buying digital currencies
Coinbase offers four digital currencies
Coinbase account can be linked to the bank and payments can be made in national currency.
Since Blockchain is only a wallet so one can buy digital currencies from other exchanges and store it on Blockchain wallet because Blockchain is one of the safest web wallet available.
Blockchain wallet can be used to store two digital currencies.
Coinbase offers a very simple process to recover the password by just clicking on the forget password link and set up a new password on the web link received on e-mail.
Blockchain offers no password recovery option. Cointogeek recommends you to save your identifier and password in a safe place.
Both offer the service to monitor the performance of the digital currencies via graphs and other statistics but Blockchain also offers Block Explorer which in simpler terms is like a browser for blockchain network.
Blockchain is way ahead than Coinbase in terms of security. Blockchain is the most secured wallet because one has an access to their private key. While in Coinbase, It has an access to customers private key, so technically Coinbase is the owner of all the customer’s bitcoins.
Other security technologies like 2FA and DDOS security is present in both platforms.
In using both services, it’s clear that each has its own benefits, depending on your own intent for use. If you are a newbie then consider using Coinbase and if you are interested in using wallet services to store the digital currency securely then consider Blockchain wallet.