Coin Base Vs. Blockchain: Which is the Best?

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Coinbase Vs. Blockchain Which is the Best

• Though there are many wallets available in the
  market, the most popular ones are the BlockChain
  wallet and the CoinBase wallet. If you are an
  amateur in the blockchain space struggling to
  understand which is better between the two, you
  have landed at the right place. In this article,
  I will be giving you a quick overview of the
  similarities and differences between the two,
  which may aid you in deciding which one is
  better.

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Understand the Blockchain Wallet

• It is one of the most renowned wallets that is
  used for Bitcoin storage. It is a leading digital
  asset platform worldwide. It keeps track of the
  ordered records or blocks with a timestamp.
• Every block is connected to the older block.
  These wallets perform almost 100 million
  transactions globally. It can be used as a mobile
  or desktop application. It offers multi-country
  and cross-platform support.

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What Is CoinBase

• CoinBase is an online platform that lets users
  buy and sell digital currencies like Bitcoins.
  Many of its digital assets are stored in secure
  offline storage. The cryptocurrencies stored on
  their servers are also covered by an insurance
  policy.

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Similarities of Blockchain and Coin Base

• On a general note, both CoinBase and BlockChain
  are trusted blockchain wallets. Though both are
  secure and are easy to set up, the main
  difference lies in the way in which funds are
  deposited and transacted. While BlockChain only
  facilitates transactions carried out in
  cryptocurrencies,

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• CoinBase allows fund deposit through credit card,
  debit card, and bank transfer and withdrawal
  through bank transfer, PayPal, and
  cryptocurrencies. Both these platforms offer an
  easy to use app, wallet, and website. Both offer
  similar dashboards and provide information about
  your account, along with currency trends and
  prices.

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• It only takes a few minutes to register for both
  the services. The registration process involves
  verifying your account through email and phone
  numbers. An additional feature of CoinBase is
  that you need to verify or add financial accounts
  to start buying Litecoin, Bitcoin, or Ether with
  USD. CoinBase allows you to convert US Dollars or
  any other currency into cryptocurrency for a very
  minimal fee.

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• CoinBase's user interface is very similar to
  BlockChain. In both, the user interface is laid
  out in panels on the website and navigation
  screens on the app. Both allow you to monitor
  cryptocurrency trends on the exchange. CoinBase
  displays your portfolio information on the
  dashboard.

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• Let us now take a look at the features of both
  for better understanding.
• Features of BlockChain
• Some of the prominent features of BlockChain are
• Security and safety- Its security center helps
  keep Bitcoin transactions safe. This center is
  responsible for the prevention of unauthorized
  access and backup of funds.

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• 247 support- The users can reach out to its team
  at any time for support.
• Simplicity- It simplifies Bitcoin usage and
  allows Bitcoin transactions worldwide.
• Sophistication- It offers a sophisticated system
  with dynamic charges for transactions

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Features of Coinbase

• The notable features of CoinBase are
• Complete control mechanism- It has
  multi-signature wallets that offer control for
  the private keys used.
• Instant transaction facilities- It lets users
  exchange their local currencies with digital
  currencies. Users will be able to transact
  instantly.

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Customer Support of Blockchain and Coinbase

• This seems to be the sore spot for both CoinBase
  and BlockChain. Most of the complaints received
  about CoinBase and BlockChain are about poor
  customer service responsiveness. This is usually
  the case for many exchanges. A few users reported
  that they were only contacted by chatbots that
  relayed automated messages and that they had not
  heard back from the support team for months. Some
  CoinBase users also registered complaints with
  the Better Business Bureau (BBB), but even then,
  CoinBase managed to get an A rating without
  being an accredited BBB company.

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Coin vs .Blockchain Wallet

• Let us now have a quick overview of these wallets
  for simple understanding.
• CoinBase offers merchant services, whereas
  BlockChain does not.
• Bank account linking is possible in CoinBase and
  not in BlockChain.
• Blockchain offers private key control.
• CoinBase users can trade (buy and sell) bitcoins,
  while BlockChain users do not have this option.
• CoinBase users can make payments through email,
  whereas BlockChain users cannot.

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Conclusion

• Selecting a blockchain wallet is a critical task.
  If you are a newbie who is starting with crypto
  wallets, it is better you go with CoinBase as it
  is easier to use and offers two-factor
  authentication. Coinbase will also let you store
  alternative coins such as Ether and Litecoin. In
  2018, Ethereum Classic was also added to the
  CoinBase platform. On the other hand, if you only
  plan to use cryptocurrency transactions without
  the need for a bank, blockchain will be the
  perfect option for you.

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• To become a blockchain expert and know more about
  blockchain certifications, check out Blockchain
  Council.

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• What is Channel?
• In Hyperledger, the channel is the subnet of the
  main Blockchain. There can be a number of
  channels.
• Can different channels have a peer or node?
• Yes, it can be a part of different channels.

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• If a transaction takes place in the subnet, is it
  visible to the public?
• No, the transactions are only visible to the
  subscribers of the particular channel.
• What Consensus Mechanism?
• When we talk in context of Hyperledger, then
  every node represents a client. It makes use of
  Practical Byzantine Fault Tolerance or PBFT
  model.

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• What is HyperLedger SawTooth Lake?
• This is an open-source project supported by
  Intel.
• Hyperledger Indy What do you know about it?
• It is an open-source project that supports
  independent identity on Blockchain and DLT. This
  platform provides tools, reusable components,
  libraries for providing digital identities.

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• Tell me something about Hyperledger Burrow?
• Hyperledger Burrow executes Ethereum smart
  contract code on a permissioned virtual machine.
  This is sponsored by Linux and Intel. It provides
  transaction finality on a proof-of-stake PBFT
  based consensus engine.

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Blockchain Council Certifications

• You can check out our certifications, and kick
  start your career in the Blockchain space today.
• Certified Blockchain Expert
• Certified Blockchain Developer
• Certified Smart Contract Developer
• Certified Solidity Developer
• Certified Ethereum Developer

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