It is not always easy to decide which trading platform to use for your crypto exchanges, even if you are an experienced trader.
The choice becomes even more complicated when choosing between two highly popular platforms like Phemex and Coinbase.
Introduction: Phemex vs. Coinbase
Phemex is a relatively new entrant in the crypto market, having launched in 2019. Headquartered in Singapore, it has rapidly expanded its global footprint, now serving over 6 million users across 200+ countries.
Despite its recent launch, Phemex has built a strong reputation thanks to its high-performance trading infrastructure and user-centric features. The platform supports multiple languages, including English, Chinese, French, Spanish, and others—making it accessible to a diverse international user base.
Coinbase is among the oldest crypto exchanges in the world as it has been in business since 2012.
This American company is among the top 10 platforms globally, and its 24-hour training volumes typically exceed $2 billion. Like Phemex, it has millions of users from more than 100 countries.
Coinbase Offer: Get $10 in free Bitcoin when you buy or sell $100 or more in crypto using this link to sign up. |
Phemex vs. Coinbase: Product Offerings
If you already have a specific product you prefer to trade on, it is always easier to choose an ideal platform. But, most traders will often trade in more than one product. When it comes to product offerings, Phemex gives you relatively more options than Coinbase and you can sign-up on the exchange using this Phemex invite code.
With Phemex, you get contract and spot trading. You can also trade crypto with leverage, and hence you do not have to buy and sell coins to make money. Additionally, Phemex also provides simulated trading to give new traders a platform for learning with no risk.
Coinbase accommodates spot trading only but allows you to trade almost every other cryptocurrency out there as they have a catalog of more than 50 coins.
There are more than 40 cryptocurrencies that trade for bitcoins and at least 7 that can trade for Ethereum. Additionally, 11 currencies can trade for their stablecoin, which is always equal to $1.
Phemex vs. Coinbase Trading Fees
Both Phemex and Coinbase offer relatively fair trading fees on their platform, which every trader will appreciate. However, Phemex trading fees for both spot and derivatives trading tend to be lower than what you pay at Coinbase.
When it comes to spot trading fees, Phemex offers zero trading fees for users with Premium or Premium Trial accounts, making it an attractive option for frequent traders. However, if you’re using the standard account, you’ll pay a transaction fee for takers and makers of 0.1% fee. This same 0.1% fee also applies to API traders.
For contract trading, Phemex follows a competitive fee structure aligned with industry standards. The maker fee is 0.01%, and the taker fee is 0.06% at the base VIP tier (as per updated PDF data). While some platforms may offer lower fees, these rates are typical of most reputable and high-liquidity exchanges.
Coinbase does not have a derivatives market, and hence you can only compare their spot trading fees to what Phemex offers. The exchange charges a spread of 0.5% for crypto purchases and sales. However, the spread sometimes goes higher or lower as it changes with market fluctuations.
Besides the 0.5% spread, there is also a Coinbase fee. This fee depends on the product feature, payment type, and the trader’s region.
Phemex vs. Coinbase Deposit & Withdrawal Fees
Most exchanges try not to charge any deposit fees and keep the withdrawal fees as low as possible. While this is also true with Phemex and Coinbase, there are still some minor fees that traders have to part with when withdrawing or depositing, which you need to know.
Overall, Phemex does not charge any fees for deposits, allowing users to fund their accounts without platform-imposed costs. However, external service providers—such as banks, credit card processors, or payment gateways—may apply their own fees during the transaction process.
While Phemex itself does not charge withdrawal fees, users are still required to pay a minimum network fee, which is 0.0005 BTC for Bitcoin withdrawals. This fee is set to cover blockchain transaction costs and may vary depending on network congestion.
When you want to convert and withdraw your crypto in fiat, Coinbase will charge you a 1% fee. There is also a network charge besides this 1%. However, the other withdrawal and deposit fees on the platform largely depend on where you are and also the channels you are using for the transaction.
For US residents, Coinbase charges a 4% base rate for all transactions. Instant card withdrawals have a 1.5% charge for all transactions, with the minimum charge set at $0.55. PayPal deposits attract a 2.5% charge, while a Coinbase USD wallet has a 1.49% charge.
Phemex vs. Coinbase Trading Platform Comparison
Phemex and Coinbase are user-friendly trading platforms that are a breeze to navigate, even for beginner traders. However, they differ in certain aspects, like the trading tools and user interface.
Although Phemex’s bright white interface may not appeal to everyone visually, the user experience is clean, intuitive, and highly functional. Staying true to its user-centric design philosophy, the platform offers a modular layout that allows traders to customize their workspace—whether it’s adjusting charts, watchlists, or order books—to fit their trading style and preferences. This makes navigating the platform easy for both beginners and advanced users alike.
Phemex allows traders to choose from several languages and provides an unlimited number of indicators per chart. There is also a demo-trading option, and users get to adjust the platform to suit their preferences. What’s more, the platform is powered by two core components: the CrossEngine and trading Engine.
Coinbase provides a simple and easy-to-navigate interface that includes a search bar to ensure traders have an easy time sifting through the many crypto offerings. You can access the platform through iOS and Android devices, but it does not provide downloadable trading software.
When you log in to your Coinbase account, you see your portfolio balance and performance immediately. There is a banner above the portfolio with a button for buying crypto, and it also allows you to convert or sell your cryptos. The option to send or receive on the top right of the screen also comes in handy when trading.
Phemex vs. Coinbase Account Opening Process
Like most other top crypto exchange platforms, creating an account on Phemex and Coinbase is relatively straightforward. Both processes involve a few steps, and you should finish them in just a few minutes.
How to Open Phemex Account
- Click on the Register button on the Phemex home page
- Enter email and create a password.
- Enter an invitation code (optional)
- Check the verification code in your email and enter it for verification
- Deposit and start trading (new users will earn up to $100 welcome bonus from Phemex)
How to Open Coinbase Account
- Click here & enter your name and email and create a password
- Verify your email address by clicking a link provides on your email
- Next, please enter a phone number to receive the verification code and then enter it
- Later on, Coinbase will send 2-step verification codes to your phone
- Enter and prove your identity just like a bank account
- Now you can add bank details or credit/debit cards to make deposits and start trading
Phemex vs. Coinbase Customer Support
Customer support has a massive effect on your experience with any trading platform. With Phemex, you get 24/7 live support in various languages to ensure you get served in a language you understand best. What’s more, you can even get the CEO on Twitter and Telegram.
Coinbase does not provide 24/7 live support like Phemex, but they have a live chat operating during US working hours. Additionally, they provide one of the best email response systems, and they always answer customer emails within 24 hours, which is as good as it gets with most exchanges.
Phemex vs. Coinbase Security Features
Given how serious hacking can be for crypto trading platforms, any platform you choose needs effective mechanisms to ensure you have a secure place to trade your currencies.
Phemex provides one of the strongest wallet securities out there as they have cold wallet storage, and any transfer needs 2-level scrutiny by a person using an offline signature. Their system uses PCI scanning and SSL technology for even better security.
Coinbase has several security measures for the traders, such as 2-step verification and biometric fingerprint login. Better still, the company has an insurance policy to protect trader funds in case there is a breach in their system. At least 98% of trader funds are in offline cold storage to provide an extra layer of protection.
Conclusion
Regardless of what you choose between Phemex and Coinbase, you can be sure you will have an easy-to-use and secure enough platform for trading cryptocurrency.
But the main difference between the two is that Phemex allows for both derivatives and spot trading, while Coinbase has a spot trading market only. Hence, for traders more into derivatives exchange, the choice between these two should be obvious.
When comparing the two exchanges, one more thing to remember is that Phemex is not available in the USA because of regulatory issues. Hence it might not be the best choice for US-based traders.
Here is How Phemex and Coinbase Pro Compares To Other Crypto Exchanges
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