BlockFi and Coinbase are U.S.-based companies offering crypto exchange services. While BlockFi is privately owned, Coinbase is publicly traded under the ticker symbol “COIN.” Although both allow investors to buy and sell cryptocurrencies, BlockFi also functions as a crypto bank. It offers loan services and interest-bearing accounts. In comparison, Coinbase focuses on crypto exchange and brokerage services.
The companies differ significantly in the cost of investing, the number of supported cryptocurrencies, and the products offered. Yet, both emphasize security and are suitable for beginners. Although we appreciate the less expensive BlockFi exchange, investors are limited to eight currencies versus the 141 that Coinbase supports.12 For new investors wanting to diversify their investments, Coinbase edges out BlockFi.
We evaluated both exchanges based on the overall cost of investing, supported currencies, and security. Plus, we considered unique features, products, and more to uncover how the platforms differ, making it easier for you to select the right exchange for your needs.