coinbase vs blockchain

Using both Coinbase and Blockchain.info allows you to see which wallet has more advantages and disadvantages. Both wallets offer most of the valuable info about bitcoin but we’ll go through all of them. It is always advisable that you choose a bitcoin wallet in your country so that you can have all the benefits.

Let us look at both wallets so we can get a clear understanding on how both of them work and which one has more advantages than the other.

 Country

Coinbase is the biggest bitcoin wallet company in USA(one of the biggest bitcoin exchange companies in the USA). Even thought is big in USA is also big in other countries. You can open a coinbase account anywhere in the world and store your bitcoins there.

Blockchoin domain name is registered in Kazakstan but anyone in the world can open a bitcoin wallet on blockchain. Blockchain is the number one global wallet that is recommended for most people.

Opening an account

Opening a Coinbase bitcoin wallet is easy, it does not need a lot of information, you need to fill your name, surname and email then receive a confirmation email. After verifying your email your account will be active.

Opening a Blockchain account is also easy, you need your name email and then create a password. After opening account you receive a confimation email and also an identifier. This identifier acts as your login username, you need every time you login.

Buy Bitcoins

Coinbase only allows USA residents to buy bitcoins, so far no other countries are allowed to buy bitcoins on Coinbase.

Even though Blockchain is the leading bitcoin wallet in the world it does not sell bitcoins or any other cryptocurrency. You can buy bitcoins from any bitcoin exchange then store them on blockchain.

The currency used

Since Coinbase is a USA company it uses a Dollar as their main currency, but if you are in another country your currency will automatically change to your country’s currency.

Blockchain uses the US Dollar as the currency, no any other currency is used.

Affiliate Program

The Coinbase affiliate program works only for USA residents which gives a one time referral commission of $10 to it’s affiliates. If you are in another country this affiliate program does not apply to you.

There’s no affiliate program on blockchain.

Password Recovery

If by any chance you forget your Coinbase password, is easy to reset it. Just go to the forgot password form and enter your email you will receive an email from Coinbase then reset your password.

There’s no password recover option on Blockchain. It recommends that you write your password and your identifier somewhere safe. This is a huge disadvantage since we know that there are people who forget their password few days after opening their accounts.

Account and bitcoin statistics

Coinbase gives you an option to view the performance of the bitcoin price through a graph or chart. This statistics are important for those who want to see how bitcoin has performed in the previous days, weeks, months even years.

When it comes to bitcoin statistics, blockchain provides all the required statistics, from the bitcoin price to the number of blocks mined and also all the legit bitcoin mining pools or companies. Blockchain is the main bitcoin public ledger were all bitcoin transactions are recorded.

Now let us look at Blockchain

 Blockchain is the leading cold bitcoin wallet in the world. It has over 600 000 with 4000 wallets being opened on daily bases.

Security

Talking about wallet security, Blockchain is the most secured wallet since you have access to your private key. While coinbase is regarded as a bitcoin bank, anything can happen to a bank. You don’t have access to your private key in Coinbase and your bitcoins are stored in a cold wallet.

With both of them you can set up a two factor but still if you do not have access to the private key your bitcoins are still not as secured compared to when you have it.

With coinbase you have to put trust on the coinbase management that they will secure your private keys and also they wont have to close down the business. For a more secure wallet you might want to look at this article, which explains hardware wallets.

What most people do

Most people buy bitcoins from Coinbase then trasnfer them to Blockchain.info for storage since Blockchain is more secured than Coinbase.

2 thoughts on “

    • May 4, 2017 at 4:52 pm
      Permalink

      Thanks a lot I appreciate the comment as well

      Reply

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