Should You Buy Your Crypto on Coinbase or Cash App?

cash app vs coinbase reddit

Two of the Easiest places to buy crypto through is Cash App and Coinbase, but which one is the better choice — or are there better alternatives entirely?

Personally while we do use Cash App for some things, we don’t use them whatsoever when it comes to Cryptocurrency. This is because Cash App only allows you to buy Bitcoin. No Ethereum. No alt-coins.

This is just unacceptable in our eyes, and while Cash App’s $5 sign-up bonus is easy to get and their other non-crypto services are great, we’d say it’s better to use a real cryptocurrency exchange such as Coinbase or Voyager which are the two best user-friendly crypto exchanges available currently. 

Which has less fees - Cash App or Coinbase?

Cash App has less fees, however as we briefly touched on above — they only allow you to buy/sell bitcoin. They don’t allow you to buy Ethereum or other big alts such as Cardano or XRP through them, and thus to us, while Cash App has lower fees Coinbase is the better option.

If you’re concerned about fees though, Coinbase’s fees are ridiculously high. Instead of using them, if you have small amounts of money and don’t want to pay fees, opt to open a Voyager account. They offer commission-free trades and a $25 signup bonus after buying $100 or more of Cryptocurrency after opening an account with code “ZACYAJ”. You can read about our comparison between Voyager and Coinbase by clicking here.

Which is more Trustworthy - Cash App or Coinbase?

While we’re including this category, as we always do in comparison articles, we’d say in this case both Cash App and Coinbase are equally as trustworthy and we believe them both to be financially sound and competent when it comes to security.

Ultimately we’d trust both of them with moderate amounts of cryptocurrency, however would recommend withdrawing into a private Hardware Wallet if you have more than a few thousand dollars invested in cryptocurrency. This isn’t so much because we don’t trust them, but rather it’s just never wise to keep ALL your eggs in a single basket. If you have tons of money in Crypto it’s wise to spread it between exchanges as well as hold some securely yourself.

Which Has The Best Signup Bonus Offers - Cash App or Coinbase?

Both Cash App and Coinbase offer pretty low sign-up bonuses compared to other Cryptocurrency exchanges, however Coinbase definitely wins out when it comes to this category, as their bonus is 2x Cash App’s bonus + up to $150+ extra over-time.

Cash App currently offers $5 if you sign up, link a bank account, and send $5 to someone (can be friend/family/partner). Simply download the Cash app and enter in the promo code “QNTTCBL” when opening your account and you’d get the bonus.

As for Coinbase, simply click here to get referred by us and you’ll receive $10 of bitcoin instantly after buying $100 or more of Crypto, as well as the ability to earn $150+ in cryptocurrency in Coinbase’s “earn” section (you’ll see this after opening an account).

What Advantages does Coinbase have over Cash App?

Coinbase offers many Cryptocurrencies, over 2 dozen (24+) currently, while Cash App currently only allows you to buy the biggest Cryptocurrency — Bitcoin. 

Coinbase also has a better sign-up promotions, and is likely to have interest-on-crypto in the future, while in our opinion Cash App is likely to just continue being Bitcoin-Only and not offer interest or anything, but instead just act as a simple checking account for Bitcoin.

What Advantages does Cash App have over Coinbase?

While we love Alt-Coins, ultimately many of them truly are what you’d call “shitcoins” and Cash App prevents you from buying too many of such shitcoins but not allowing you to buy ANY of them. This is bad if you know what you’re doing — but if you’re just mindlessly buying alt-coins and being greedy trying to make more through alt-coins/smaller-coins then being restricted to Bitcoin-Only will probably help you.

It’s also much easier to send bitcoin to family members or friends, as well as pay other people through Cash-App than through Coinbase, so if you aren’t looking for a simple Investment Account, but rather a “bitcoin bank account” then Cash App would probably be better for you.