Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Coinbase vs. Robinhood: The Next Big FinTech Showdown

Coinbase vs. Robinhood: The Next Big FinTech Showdown

CoineditionCoinedition2024/08/13 16:00
By:Ikemefula Aruogu
  • Michael Nadeau predicts a brewing contest between Coinbase and Robinhood.
  • Robinhood does not charge trading fees, unlike Coinbase.
  • Both FinTech firms are undergoing continuous evolution, unlike traditional institutions

DeFi researcher Michael Nadeau predicts a fierce competition between Coinbase and Robinhood in the coming years. The two fintech giants are battling for dominance across various crypto sectors, from trading to staking and even potential banking services.

Nadeau pointed out the difference in trading operations between the two. Coinbase charges fees on trades, while Robinhood offers free digital asset trading. It is worth noting that Coinbase is one of the world’s top centralized crypto exchanges. Meanwhile, the Robinhood app is built on a decentralized architecture without relying on a central authority to manage transactions.

Regarding tokenization, Nadeau explained that Robinhood is already a registered broker-dealer and exchange, unlike Coinbase, which has an unused license. However, he highlighted a similarity: both platforms could potentially function like banks in the future. According to Nadeau, both Coinbase and Robinhood can generate revenue from assets on their platforms through staking. Robinhood already offers such services in Europe, while Coinbase provides them in the U.S.

The DeFi researcher also emphasized Coinbase’s strategic relationship with Circle around USDC for enabling stablecoin payments. He acknowledged this as an area where Robinhood has yet to make inroads, despite recently launching a new credit card. Additionally, while Robinhood only recently launched its futures and options offering, Coinbase has had one operational on its platform for the past year.

Nadeau’s comparison extended to other areas, including crypto lending, prime brokerage, and infrastructure, highlighting the differences and similarities between the two platforms. He observed that while these FinTech platforms are making progress, traditional banks, brokers, clearing houses, and financial service providers seem to be stagnant, awaiting regulatory approval to innovate.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!