MyEtherWallet VS Coinbase

Compare MyEtherWallet VS Coinbase and see what are their differences

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MyEtherWallet

MyEtherWallet is a free, open-source, client-side interface.

Coinbase

Bitcoin, safe and easy.

Landing page //
2023-04-05

Landing page //
2018-09-30

MyEtherWallet

Website: myetherwallet.com
$ Details

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Coinbase

Website: coinbase.com
$ Details: -

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MyEtherWallet features and specs

User Control
MyEtherWallet (MEW) is a non-custodial wallet, meaning users have full control over their private keys and funds, enhancing security and autonomy.
Open Source
Being open-source software, MEW allows users and developers to review its code, enhancing transparency and security.
Compatibility
MEW is compatible with various hardware wallets like Ledger and Trezor, providing additional security options for users.
Wide Range of Tokens
MEW supports a wide variety of Ethereum-based tokens (ERC-20), making it versatile for different types of users and use cases.
Integrated with DeFi
MEW offers integration with decentralized finance (DeFi) platforms, enabling users to easily access various DeFi services.
Web and Mobile Access
MEW offers both a web interface and a mobile app, allowing users to access their wallets conveniently.

Possible disadvantages of MyEtherWallet

User Responsibility
As a non-custodial wallet, users are fully responsible for managing their private keys. Losing keys means losing access to funds, and there is no way for customer service to recover them.
Phishing Risks
Being a popular online wallet, MEW is often targeted by phishing attacks. Users must be cautious to ensure they are using the correct website.
Technical Knowledge
MEW may require a certain level of technical knowledge to fully utilize its features, which could be a barrier for beginners.
Limited Support
MEW has limited customer support compared to custodial wallets, which might be a challenge for users needing immediate assistance.
Security Risks
Since MEW is primarily a web-based wallet, it can be vulnerable to online threats and hacking risks. Users need to implement strong security practices.

Coinbase features and specs

User-Friendly Interface
Coinbase offers an intuitive and easy-to-use interface that is ideal for beginners in the cryptocurrency space.
High Liquidity
Coinbase has high liquidity, allowing users to buy and sell cryptocurrencies quickly without significant price slippage.
Security Features
Coinbase employs robust security measures, including two-factor authentication (2FA), insurance against breaches, and cold storage for the majority of users' funds.
Wide Range of Cryptocurrencies
The platform supports a broad selection of cryptocurrencies, making it easier for users to diversify their portfolios.
Educational Resources
Coinbase provides educational content to help users understand cryptocurrency and blockchain technology better.
Regulatory Compliance
Coinbase adheres to stringent regulatory standards, providing a sense of legitimacy and trust for users.
Mobile App
Coinbase offers a mobile app with full functionality, allowing users to manage their portfolio on the go.

Possible disadvantages of Coinbase

High Fees
Coinbase charges relatively high transaction fees compared to other exchange platforms, which can eat into users' profits.
Limited Advanced Trading Features
While it offers a user-friendly experience, Coinbase lacks some of the advanced trading tools and features available on other platforms.
Customer Support
Some users have reported delays and difficulties when trying to reach Coinbase's customer support.
Account Freezes
There have been instances where users have experienced sudden account freezes, which can be problematic when trying to access funds.
Know Your Customer (KYC) Requirements
Coinbase requires extensive personal identification information, which can be off-putting for users who prioritize privacy.
Geographic Restrictions
Certain features and services on Coinbase are limited or unavailable in specific geographic regions.

Analysis of MyEtherWallet

Overall verdict

MyEtherWallet is a good option for those looking to manage Ethereum and ERC-20 tokens. Its ease of use, security features, and flexibility make it a viable choice for both new and experienced cryptocurrency enthusiasts.

Why this product is good

MyEtherWallet (MEW) is popular among users for its ease of use, especially for beginners in the cryptocurrency space. It allows users to create wallets for Ethereum and ERC-20 tokens without the need for third-party software. MEW is also a non-custodial platform, meaning users have full control over their private keys and funds, enhancing security. The platform supports hardware wallet integration and provides a simple interface for managing Ethereum-based assets.

Recommended for

MyEtherWallet is recommended for those who are comfortable managing their private keys and prefer a non-custodial solution to hold Ethereum and ERC-20 tokens. It is especially suitable for users who value integration with hardware wallets for enhanced security.

Analysis of Coinbase

Overall verdict

Overall, Coinbase is considered good for those looking to buy, sell, or hold cryptocurrencies. However, it is important to note that its fees can be higher compared to some other platforms, particularly for its simpler buying options.

Why this product is good

Coinbase is one of the largest and most popular cryptocurrency exchanges globally, known for its user-friendly interface, robust security measures, and a wide variety of supported cryptocurrencies. It is a good choice for both beginners and experienced traders due to its intuitive platform and comprehensive educational resources. The exchange is regulated in various jurisdictions, offering a level of credibility and trustworthiness.

Recommended for

Beginner cryptocurrency investors who need an easy-to-use platform.
Users seeking a regulated and secure environment for trading.
Investors interested in a wide variety of supported cryptocurrencies.
Individuals looking for educational resources on cryptocurrency trading.

MyEtherWallet videos

+ Add

How Create MyEtherWallet (MEW) Account | Complete Tutorial 2020

Coinbase videos

+ Add

Coinbase Commerce vs Bitpay Merchant Services - The Ultimate Crypto Payment Gateway

Category Popularity

0-100% (relative to MyEtherWallet and Coinbase)

MyEtherWallet

Coinbase

Cryptocurrencies

10 10%

Cryptocurrencies

90% 90

Cryptocurrency Wallets

16 16%

Cryptocurrency Wallets

84% 84

Crypto

8 8%

Crypto

92% 92

Finance

100 100%

Finance

0% 0

User comments

Share your experience with using MyEtherWallet and Coinbase. For example, how are they different and which one is better?

Reviews

These are some of the external sources and on-site user reviews we've used to compare MyEtherWallet and Coinbase

MyEtherWallet Reviews

Top DeFi Wallets

In the earlier days, wallets such as MyEtherWallet dominated the market while providing clunky UI/UX. Fortunately, within the past year, many wallets have upped their game and are creating better interfaces with significantly better user experience.

Source: defirate.com

Coinbase Reviews

shah7

· Admin at Coin Master · almost 3 years ago

Coinbase is Love

One of the main benefits of Coinbase is its extensive security measures, which include offline storage for a majority of the company's cryptocurrency holdings and advanced security measures for online storage. Additionally, Coinbase is licensed and regulated by several financial authorities, which helps to provide users with a certain level of confidence in the security of their funds.

Best Crypto Payment Gateways 2024

– Real-time Conversion: Coinbase Commerce offers real-time conversion of cryptocurrencies into fiat currency, mitigating price volatility concerns for merchants. This feature enables seamless transactions without the need for manual conversions or additional steps.

Source: bitcoinist.com

9 Best Cryptocurrency Payment Gateways Reviewed [January 2023]

Coinbase Commerce allows small and medium scale businesses to accept crypto payments from customers. Being one of the best crypto exchange platforms, Coinbase supports a wide range of cryptocurrencies. Its Coinbase Pro platform has advanced features to serve professional traders. Businesses can create invoices, simple hosted checkouts, and Coinbase payment buttons using this...

Source: coingape.com

Top Crypto and Bitcoin Payment Processors - Accept Digital Currencies

Moreover, Coinbase Commerce charges only a 1% transaction fee, which is insignificant compared to the benefits it provides. It’s important to mention here that Coinbase Commerce offers the first US$1 million worth of transactions for free, making it one of the cheapest payment processors available today. All in all, if you’re seeking a professional and reliable payment...

Source: originstamp.com

6 Best Coinbase Alternatives for 2022

Coinbase opens the door to the world of cryptocurrencies for many investors. It focuses on simplicity, providing easy access to over 100 cryptocurrencies through a well-designed app, where users buy, sell, and exchange crypto with ease.

Source: investingintheweb.com

Best Crypto Exchanges in Europe in 2022 (Ranked and Reviewed)

While Coinbase is known for its simplicity, the platform has higher transaction fees than its competitors. Users also tend to complain about its customer service, saying that it is hard to contact other humans, with the service being primarily automated. Finally, Coinbase Europe is not a regulated financial service provider for digital currency services.

Source: investingintheweb.com

Social recommendations and mentions

Based on our record, Coinbase should be more popular than MyEtherWallet. It has been mentiond 454 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

MyEtherWallet mentions (55)

WELCOME NEWCOMERS!!🎉🎉
Never share your private key/recovery phrase (same thing in different form). I made one exception to this, which was to use myetherwallet.com to generate my private key from the reovery phrase, then use my private key to import my account into metamask. Source: about 3 years ago
MEW v5 sunsetting on October, 4th 2022!
In order to prevent any issues with wallet access after the sunsetting of MEW v5, try out our current version of MEW at https://myetherwallet.com. Source: about 3 years ago
How to find and unstake HEX without Metamask access - is it possible?
If you have the mnemonic seed phrase, you can find out what the corresponding Private Key/Ethereum address is, for example, with myetherwallet.com. However, any Ethereum wallet works for this, Electrum or Exodus are also legit choices and always safer choices than an online wallet provider. Source: about 3 years ago
What is the absolute most secure way to create an Ethereum wallet?
Visit website to create public and private key (like myetherwallet.com). Source: over 3 years ago
Lost 17,000 $ of ETH due to hacked Metamask wallet
Thank you! I just checked that. The account is newly created, it was only connected to myetherwallet.com. Maybe the whole Metamask wallet was compromised so the hacker can access to all the accounts within it. Source: over 3 years ago

Coinbase mentions (454)

Ask HN: Who is hiring? (June 2024)
- We move at the pace of a startup, with value to full stack skillset, shipping fast, total ownership - Senior Product Manager, ideally ex-engineer, who has built API products before and written documentation - Engineering Manager for our Commerce team ( https://commerce.coinbase.com/ ) Send your github or resume to nemil.dalal+hn /at Coinbase's domain name. - Source: Hacker News / over 1 year ago
reset password email never shows
I have been trying to regain access to my account FOR OVER TWO FUCKING YEARS... The website only leads me in circles with no resolution, the reset password email NEVER shows up.. Yes I have checked my spam folder, yes I have searched for @coinbase.com in my emails search bar, yes I have contacted my email service provider whom states they cant even locate the emails being sent... I just need to reset my password... Source: almost 2 years ago
Over $50k was stolen from my account!!!
Late (2am) on the 26th, I received 3 text messages indicating the BTC (and ETH) being sent from my account are being delayed for security reasons. The text had a link (to a coinbase.com domain) to disable my account by clicking on the link. I did so for all 3 transactions (no login was required as it was a token based string) at around 6am when I saw the texts. Source: about 2 years ago
Accept Term problem
I got an e-mail that my account will be discontinued on Sept 25, and I should withdraw my funds. But after log in, I'm stuck on accept term, using app mobile, coinbase.com (firefox, google chrome , and safari) I tried also to connect to VPN but nothing happens. Source: about 2 years ago
Withdrawing money from Binance in the UK - how?
I do have an existing Coinbase.com account if that makes any difference? Source: about 2 years ago