Dacxi and Coinbase are two cryptocurrency platforms aimed at very different users, with very different attitudes to investing in crypto.
In this review, we’ll explore just what those differences are, and assess which exchange might be right for each type of cryptocurrency investor.
Let’s start with a quick overview of each company.
Founded in 2017, Dacxi is a global fintech company based in Singapore. Dacxi is more than a cryptocurrency exchange; it’s a whole Crypto Wealth ecosystem, focusing on empowering Dacxi’s clients to build long-term wealth through crypto and other tokenized digital assets.
The Dacxi Exchange is found via the Dacxi Crypto Wealth platform, and it claims to be the world’s simplest and most intuitive cryptocurrency and tokenized digital asset exchange.
It’s designed for everyday people who want the buying and selling process to be as easy as possible. Dacxi clients also tend to have a long-term investment perspective. They are very much holders, not traders.
Coinbase launched back in 2012 (which in crypto terms means it’s practically ancient) and it went public in 2021, listing on the NASDAQ. It’s a U.S.-regulated cryptocurrency trading exchange that allows users to buy, sell, send, receive, and exchange coins via a web browser or mobile app. It’s designed mostly with newbie cryptocurrency traders in mind.
Like the Dacxi Exchange, Coinbase features a simple interface and limited transaction types. But unlike Dacxi, it offers about 100 cryptocurrencies. In contrast, Dacxi offers three curated cryptocurrency Bundles, a small selection of Blue Chip coins available to purchase individually, and a tokenized Precious Metal Bundle, which is offered as an inflation hedge for more cautious investors.
Important: Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. We recommend consulting with a qualified professional before making any financial decisions. This article is not a recommendation to invest via either Coinbase or Dacxi, or to invest in cryptocurrencies in general. We’ve done our best to be accurate, but things change fast in the cryptoverse, so please make sure to do your own due diligence.
Before you decide which exchange you want to purchase from, it’s worth checking out the specific features and benefits of each crypto platform.
So let’s line up Dacxi and Coinbase side-by-side to check out how they compare.
Dacxi vs. Coinbase: User-friendly Interface
Although Coinbase is certainly simple and user-friendly, the Dacxi Exchange takes the cake for pure simplicity and ease of use.
One look and you can see that the Dacxi Exchange has been built to meet the needs of people who have rarely (if ever) made their own investment transactions online.
Plus, the Dacxi team has carefully selected a small range of coins for users to choose from (more on that later), which means 99% of the hard work of researching and picking coins has already been done for you.
So, are you a frequent and experienced trader, or a less experienced holder who needs a little extra support? If it’s the latter, Dacxi may well be the right exchange for you.
Dacxi vs. Coinbase: The key features
As they’re designed for different types of investors, there’s a big difference between the features offered on each exchange.
- A very simple interface
- Limited choice of cryptocurrencies, restricted to very popular coins like Bitcoin and Ethereum – plus several emerging coins which Dacxi’s expert team have assessed as strong future growth opportunities
- The ability to simply and quickly purchase multiple cryptocurrencies as part of a Bundle
- A tokenized Precious Metals Bundle – including digital tokens of gold, silver and platinum, backed by the physical precious metals which are vaulted and insured by ABC Bullion
- A small selection of hand-picked individual coins
- Built in wallets for each Bundle and coin
- Crypto assets are custodied and insured by Bitgo, the world-leading institutional custody service
- A client-base currently mainly concentrated in the UK and Australia.
- The ability to buy assets with UK or Australian currency or using USDT (Tether)
- A weekly newsletter with news tailored to the long-term investor
- A weekly blog
- Free access to premium educational content on Dacxi LEARN
- A secure, standalone digital hot wallet, which can be used on Coinbase and other exchanges you might want to trade on
- A large number of listed cryptocurrencies to choose from
- The ability to withdraw funds direct to your personal PayPal account
- A newsletter highlighting cryptocurrency news of interest to traders
- The ability to earn rewards in cryptocurrency for watching video content
- A client-base primarily concentrated in the U.S. (excluding Hawaii)
- The ability to upgrade to Coinbase Pro, which comes with a number of extra features to help more experienced cryptocurrency traders keep pace with the market.
Dacxi vs. Coinbase: Currencies you can buy and sell
On both exchanges, users deposit fiat currency and then use that to buy, sell, or trade cryptocurrencies. But the amount of digital currencies available is one of the single biggest differences between the two exchanges – and it’s a great illustration of the very different people they cater to.
At the time of writing, Coinbase offers traders over 100 currencies on its basic platform and 57 on Coinbase Pro. Coinbase also supports fiat currencies, including USD, British pound sterling (GBP), and euro (EUR).
On the Dacxi Exchange, you’ll find a dramatically smaller range of cryptocurrencies on offer. There are none of the small ‘alt coins’ favoured by some traders.
Dacxi says it’s entirely focussed on coins which offer utility, and therefore support long-term value.
That’s why on the Dacxi Exchange, choice is limited to the major coins, plus several of the new wave of Crypto 4.0 coins – those that are supported by practical real-world use cases.
Dacxi vs. Coinbase: Security features
Users of either platform can rest assured that their investment is secure.
Dacxi’s asset custody solution is with Bitgo, which is the world leader in institutional digital asset custody solutions.
Coinbase follows US regulations and all USD balances are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC), and held in custodial bank accounts.
Both cryptocurrency exchanges provide two-factor authentication (2FA) via the Google Authenticator app, and both follow rigorous KYC criteria for new clients.
Dacxi and Coinbase both require identification verification from all users via government-issued photo ID. However, Dacxi goes one step further and requires an uploaded image of a piece of printed mail that shows the client’s home address.
One of Coinbase’s most impressive security features is biometric fingerprint access for its digital wallet. 98% of Coinbase’s cryptocurrency funds are stored in air-gapped cold storage via vaults and safe deposit boxes.
Coinbase also has an insurance policy to cover the 2% of funds kept in hot storage – but it only covers security breaches on their end, not breaches due to a user security problem.
That goes for Dacxi too, so be sure to keep a close eye on your own security, as well as your exchanges.
Both exchanges have wallets where you can store your cryptocurrency. But both exchanges also let you easily move your holdings to another wallet of the exchange, or sell it and transfer the amount back to fiat.
Dacxi vs. Coinbase: Exchange Fees
This is another major difference. The Dacxi Exchange’s fees are very low, while Coinbase’s prices are some of the highest in the industry.
Coinbase’s high prices are justified in part by its wide choice of coins and its handy trader support features. So if you’re looking to regularly trade in cryptocurrency, Coinbase may be your best option.
Dacxi vs. Coinbase: Educational and Customer support
This is where Dacxi comes out on top. Dacxi has created its very own dedicated educational resource, called Dacxi LEARN.
The platform includes cryptocurrency courses informative videos, and webinars – made for both individual investors and financial professionals.
More content is added to the platform every day. Coinbase’s educational support is more limited, although it does offer its users video content aimed at beginners.
Support is another area where Dacxi might have the edge over Coinbase. While support for either exchange is only via email or a help ticket, Dacxi offers fast reply times and very friendly, helpful support staff.
So, which is the right exchange for you? Dacxi or Coinbase?
Dacxi and Coinbase are two very different exchanges because they’ve been built to serve significantly different types of people.
Dacxi has been designed for people who might be new to crypto. They’re not likely to be traders – but rather people who want to make crypto part of their diversified investment portfolio and gain the long-term benefits.
That’s why the theme of ‘easy’ runs through everything on the Dacxi platform – from the simplicity of the signup process to buying and selling.
Their Bundle approach, where people can purchase curated packages of cryptocurrency or precious metals, eliminates the overwhelm and confusion that comes with having to choose from hundreds of coins.
Dacxi also has the added benefit of Dacxi LEARN, which is always there to help investors better understand the crypto verse, and grow their crypto confidence.
So if you’re fairly new to cryptocurrency, and want to take a long-term investment strategy? Dacxi is ideal.
Coinbase, on the other hand, is a straightforward and clear exchange, which values convenience and security. It’s designed to make trading coins simple.
That makes it the obvious choice for people who want to develop their crypto trading skills – without the distraction of a complicated exchange interface.
So, what does all this mean for you? It means the first step is to decide what sort of cryptocurrency investor you want to be.
From there, the choice between Dacxi and Coinbase should be clear. The good news is, whichever you exchange choose, you know your crypto assets will be in safe and secure hands.