Coinbase 与 Robinhood：哪个是交易加密货币的最佳场所？

Coinbase 和 Robinhood 是两个最受欢迎的加密货币交易场所，但哪一个更适合您呢？答案取决于您的需求

Coinbase and Robinhood are two of the most well-known platforms for trading cryptocurrencies, but which one is right for you? The answer depends on your needs, especially on how much crypto trading you intend to do and the costs you’re willing to pay.

Coinbase 和 Robinhood 是两个最著名的加密货币交易平台，但哪一个适合您呢？答案取决于您的需求，尤其是您打算进行多少加密货币交易以及您愿意支付的成本。

Coinbase and Robinhood may appeal to different kinds of traders, though there’s likely some significant overlap. Coinbase is a cryptocurrency exchange that targets traders deeply in the world of digital currencies. In contrast, Robinhood is a trading app that allows users to buy and sell stocks, ETFs, options and some types of crypto for no out-of-pocket cost.

Coinbase 和 Robinhood 可能会吸引不同类型的交易者，尽管可能存在一些重大重叠。 Coinbase 是一家加密货币交易所，其目标客户是深入数字货币世界的交易者。相比之下，Robinhood 是一款交易应用程序，允许用户免费买卖股票、ETF、期权和某些类型的加密货币。

Both companies have faced scrutiny from regulators in recent years. The Securities and Exchange Commission sued Coinbase in June 2023, alleging it had illegally operated as an exchange, broker-dealer and clearing agency, and offered and sold unregistered securities. The lawsuit said Coinbase knowingly violated securities laws that are designed to protect investors. Coinbase said it would continue to operate its business as usual.

近年来，两家公司都面临监管机构的审查。美国证券交易委员会于 2023 年 6 月起诉 Coinbase，指控其非法运营交易所、经纪自营商和清算机构，并提供和出售未注册的证券。该诉讼称，Coinbase 故意违反了旨在保护投资者的证券法。 Coinbase 表示将继续照常运营其业务。

In 2020, Robinhood agreed to pay $65 million to settle SEC charges that it misled customers over the payments it received from trading firms for sending customers orders to them. The SEC found that customers received inferior trade prices in aggregate of $34.1 million even after accounting for the lack of a commission. Robinhood did not admit or deny the SEC’s findings.

2020 年，Robinhood 同意支付 6500 万美元，以了结 SEC 的指控，该公司指控其在向贸易公司发送客户订单时收到的付款中误导了客户。 SEC 发现，即使考虑到没有佣金，客户仍收到总计 3410 万美元的劣质交易价格。罗宾汉没有承认或否认 SEC 的调查结果。

Here’s how Coinbase and Robinhood differ along a few other key dimensions.

以下是 Coinbase 和 Robinhood 在其他几个关键方面的差异。

Coinbase vs. Robinhood: Cost

Coinbase 与 Robinhood：成本

The cost structure at Coinbase and Robinhood are significantly different, and it doesn’t help matters that Coinbase purposely obscures much of its fee structure from potential customers (though it does disclose them before you actually place a trade). That said, Robinhood is not exactly straightforward about how it’s compensated either.

Coinbase 和 Robinhood 的成本结构显着不同，Coinbase 故意向潜在客户隐瞒其大部分费用结构（尽管它确实在您实际进行交易之前披露了这些费用），这无济于事。也就是说，罗宾汉对于如何获得报酬也并不明确。

The fee structure at Robinhood is simple, relative to Coinbase’s. In keeping with the broker’s “no commissions” model for stock and options, you won’t pay any cost directly out of your pocket for buying and selling crypto. Instead, the cost of trading is effectively rolled into a spread markup on the trade. So you’ll effectively pay more when you’re buying and receive less when you’re selling than if you received the best market price at the moment of your trade.

相对于 Coinbase 来说，Robinhood 的费用结构很简单。根据经纪人对股票和期权的“无佣金”模式，您无需直接自掏腰包购买和出售加密货币。相反，交易成本实际上被计入了交易的价差加价中。因此，与交易时收到的最佳市场价格相比，您在买入时实际上会支付更多的费用，而在卖出时收到的收入会更少。

Coinbase's fee structure is confusing, to say the least. Not only does it charge varying fees based on how much you purchase, it has a basic tier of service and an advanced tier, each of which have different fees. And recently Coinbase began to obscure the fees for its basic service, making it difficult for prospective customers to see how much they’re paying (Spoiler alert: prices are high if you’re buying just a little bit of crypto on the basic tier.)

至少可以说，Coinbase 的费用结构令人困惑。它不仅根据您购买的数量收取不同的费用，而且还具有基本服务层和高级服务层，每个服务层都有不同的费用。最近，Coinbase 开始隐瞒其基本服务的费用，使潜在客户很难知道他们支付了多少钱（剧透警告：如果您只在基本层购买一点点加密货币，价格就会很高。 ）

For smaller transactions, you’ll pay a spread mark-up of 0.5 percent of your trade value plus a flat fee based on the size of your transaction.

对于较小的交易，您需要支付交易价值 0.5% 的点差加价，并根据交易规模支付固定费用。

Coinbase’s fee structure

Coinbase 的费用结构

Transaction amount

交易金额

Fee

费用

$10 or less

10 美元或以下

$0.99

0.99 美元

More than $10 and up to $25

超过 10 美元至 25 美元

$1.49

1.49 美元

More than $25 and up to $50

超过 25 美元至 50 美元

$1.99

1.99 美元

More than $50 and up to $200

超过 50 美元至 200 美元

$2.99

2.99 美元

At the lowest levels, around $10, you’ll pay a fee that eats up nearly 10 percent of your purchase. But even at $200, you’re still paying a hefty 1.5 percent or so. And that’s on top of the 0.5 spread mark-up that’s already factored into the purchase or sale price.

最低价格约为 10 美元，您需要支付的费用占您购买金额的近 10%。但即使是 200 美元，您仍然要支付 1.5% 左右的高额费用。这还不包括已计入购买或销售价格的 0.5 点差加价。

At purchase amounts above $200, you’re still paying that 0.5 percent spread mark-up while a variable fee depends on your source of funds.

购买金额超过 200 美元时，您仍需支付 0.5% 的点差加价，而可变费用取决于您的资金来源。

Coinbase funding fees

Coinbase 融资费用

Payment method

付款方式

Fee

费用

ACH

乙酰胆碱酯酶抑制剂

Free

自由的

Wire (USD)

电汇（美元）

$10 deposit fee; $25 withdrawal fee

10美元存款费； $25 提款费

Debit card

借记卡

3.99 percent

3.99%

If you opt to use Coinbase Advanced, the company’s higher service tier, you’ll be able to score lower overall fees, even if you’re trading with lower amounts. Coinbase Advanced is clearer about these fees, but the structure is scaled and depends on whether you’re adding liquidity (where the commission ranges from 0 to 0.4 percent of trade value) or taking liquidity (with commissions ranging from 0.05 to 0.6 percent).

如果您选择使用 Coinbase Advanced（该公司的更高服务级别），即使您的交易金额较低，您也可以获得较低的总体费用。 Coinbase Advanced 对这些费用更加明确，但其结构是按比例调整的，具体取决于您是增加流动性（佣金范围为交易价值的 0% 到 0.4%）还是获取流动性（佣金范围为 0.05% 到 0.6%）。

Advantage: Robinhood, for the simplicity of its fee structure, even if its disclosure is no better than the one provided by Coinbase.

优点：Robinhood，其费用结构简单，尽管其披露并不比 Coinbase 提供的更好。

Coinbase vs. Robinhood: Available coins for trading

Coinbase 与 Robinhood：可用于交易的代币

Coinbase supports trading in more than 200 different cryptocurrencies, including the biggies such as Bitcoin, Ethereum, Cardano, Solana, Dogecoin and more. So, you’re

Coinbase 支持 200 多种不同加密货币的交易，包括比特币、以太坊、卡尔达诺、Solana、狗狗币等。所以，你是