Coinbase vs Relai Comparison

In short: Coinbase is one of the best-known crypto exchanges in the world and is licensed under MiCA for customers in the EU. More than 400 crypto assets, a simple app, staking and a Nasdaq-listed parent company speak for the platform. The simple buy flow costs more than at many other exchanges, with a Coinbase fee of up to 1.875% plus spread; frequent traders therefore use Coinbase Advanced with maker and taker fees.

Is Coinbase safe and licensed in the EU?

Yes, Coinbase may serve customers across the EU. Crypto services are provided by Coinbase Luxembourg S.A., licensed under MiCA since 20 June 2025 and supervised by Luxembourg's financial regulator CSSF. Through the EU passport the licence covers 30 EEA countries, including Germany, France and Spain (ESMA register, file of 30 October 2026). Euro balances are held as e-money by Coinbase Ireland Limited, supervised by the Central Bank of Ireland. According to the Coinbase user agreement for the EEA, crypto assets and e-money are not covered by a deposit guarantee or an investor compensation scheme. The parent company Coinbase Global has been listed on Nasdaq since 2021 and publishes its results there regularly.

Fines from the Central Bank of Ireland: On 22 October 2026 the Central Bank of Ireland announced a fine of €3.25 million against Coinbase Ireland Limited. Between November 2020 and August 2025 the company did not adequately safeguard client funds, and the safeguarding account was under-funded for extended periods. The regulator does not allege any loss of client money; Coinbase admitted the breaches, and the sanction takes effect once confirmed by the Irish High Court. In November 2025 the same authority fined Coinbase Europe Limited €21.46 million over gaps in transaction monitoring. Details in our report on the Coinbase Ireland fine.

Data leak in 2025 and scam calls: In May 2025 Coinbase disclosed that bribed overseas support agents had copied customer data of less than 1% of monthly transacting users to enable scams in Coinbase's name. According to Coinbase, passwords, private keys and funds were not affected, and the company pledged to reimburse customers who were tricked into sending funds to the attackers (Coinbase statement). Coinbase never asks for your password or 2FA codes and never asks you to move crypto to a new address or another account: anyone pushing you to do so on the phone is a scammer.

Stablecoins under MiCA: For customers in the EEA, USDT, DAI, PYUSD and other stablecoins without MiCA authorisation can no longer be traded on Coinbase; according to Coinbase, balances still held on the cut-off date of 30 October 2026 are converted once into USDC at the market rate, and deposits of these coins after that date are no longer credited. Background in our report on the switch.

What you can do yourself: turn on two-factor authentication, never share codes on the phone and keep larger amounts on your own hardware wallet.

Who is Coinbase for?

Coinbase suits beginners who want a well-known platform with a simple app and a listed parent company, and investors who want buying, savings plans and staking in one place. Frequent traders save with Coinbase Advanced in the order book. For euro trading, Bitvavo and Kraken are cheaper. All licensed providers are listed in our comparison of regulated crypto exchanges.

Relai has established itself in the DACH region as one of the best-known Bitcoin-only apps and is especially appreciated by the Bitcoin community. The Swiss company follows a consistent self-custody approach: Bitcoin is held directly in the in-app wallet, and transfers to external wallets, including hardware wallets, are possible. Customers in the EU are served by Relai EU SASU, which has held a MiCA authorisation from the French financial markets authority AMF since 23 October 2025 and, according to the ESMA register, may operate in all 27 member states via the EU passport; in Switzerland, Relai AG is a member of the self-regulatory organisation VQF. Relai is therefore considered to be on solid regulatory footing.

The savings plan functionality is particularly valued, enabling automatic Bitcoin purchases with direct transfer to your own wallet or a hardware wallet. For investors who see Bitcoin as a long-term store of value and place importance on self-custody, Relai is regarded as one of the most accessible solutions. The fee is 1 % per purchase, or 0.9 % with an invite code; the first monthly auto-invest plan up to €100 remains fee-free. Paying by credit card, Apple Pay or Google Pay adds 3.0 %.

Since only Bitcoin can be traded, Relai is not suitable for investors interested in altcoins, something occasionally criticized by some users. The minimum amount of 50 € and the setup of external wallet transfers are also seen as room for improvement. Relai is therefore especially suited to Bitcoin-focused investors who want to combine self-custody and automated saving with a regulated provider.