Robinhood Markets (NASDAQ: HOOD) disappointed investors with its financial update this week. It fell short of analysts’ expectations for the quarter and its near-term outlook was not very encouraging. The market reacted as you might expect, knocking Robinhood stock down 10% on Wednesday. Is this a bad omen for Global Coinbase (NASDAQ: COIN) when he reports financial results for the same three month period in two weeks?

Not so fast. Robinhood and Coinbase went public three months apart earlier this year, and they seem to be joining in fashion as next-gen trading platforms for trigger-happy young speculators. However, Robinhood functions as a marketplace for stocks, options, and cryptocurrency. Coinbase is laser-focused as the world’s largest cryptocurrency exchange. Robinhood is a jack of all trades; Coinbase is a master of it.

This does not in itself mean that Coinbase is safe from what is plaguing Robinhood this week. If we only look at Robinhood’s crypto activity, we see a problematic sequential decline in this week’s report. The $ 51 million in revenue Robinhood generated from cryptocurrency trading was 860% higher than a year earlier, but it was a sharp 78% drop from one quarter compared to the $ 233 million it generated in the second quarter of this year. With Coinbase reporting on November 9, it’s natural to be concerned. Let’s go over some of the reasons why the best dog in crypto should hold out considerably better than Robinhood this week.

1. Robinhood is very limited in crypto

Robinhood is popular. There are 18.9 million monthly active users on the platform. The problem is, people who are serious about crypto don’t really do that on Robinhood. The app only offers access to seven different denominations of cryptocurrency. Compare that to the rapidly expanding universe of Coinbase which currently has 110 different digital coins.

Another problem with Robinhood is that the crypto never really leaves the hands of the platform operator. There are no crypto wallets. You cannot send the crypto stored by Robinhood elsewhere to settle a trade or to another trading platform. There is no flexibility in how to store cryptocurrency.

In short, Robinhood is crypto trading on training wheels. It may seem secure in some ways with guarantees for beginners, but in the end, it’s like driving in a school zone in a small town. There’s not much to see, and you’ll want to stop and drive somewhere else.

2. Shiba Inu is the new Dogecoin

One of the things that set Robinhood apart in the second quarter of this year is that it was one of the few mainstream exchanges to offer. Dogecoin (CRYPTO: DOGE). The crypto meme started to take off in April and Robinhood was the zero point for accessing cheap currency. It was a strong tailwind for Robinhood in the second quarter. Dogecoin didn’t hit Coinbase’s welcome mat until early June, when the quarter was almost over.

Let’s move on to the third quarter. The very hot token these days is Shiba inu (CRYPTO: SHIB). It is not available for trade on Robinhood. It was added to Coinbase in mid-September. We’re obviously only looking at the last two weeks for Q3, but trading volume has been understandably high, and it should also fuel better directions for the current quarter at Coinbase than what we’ve seen at Robinhood.

3. Encryption Platforms Get a Better Start

There aren’t many listed cryptocurrency platforms out there, but one has already given a sneak peek in their upcoming quarterly report. Digital travel (OTC: VYGV.F) Officially releases its financial results on Friday morning, but earlier this month it gave a preliminary look at how its third quarter will unfold.

Voyager is much smaller than Coinbase, but like the main exchange, it offers dozens of cryptocurrencies to trade with the flexibility of digital wallets. Voyager also allows users to earn up to 12% annual interest for letting the platform borrow a user’s crypto to lend, pledge or otherwise use digital currency. Almost half of the 60+ currencies available on Voyager can earn interest this way, compared to just six on Coinbase and none on Robinhood. It’s a better proxy for Coinbase than Robinhood.

How did Voyager behave during its last trimester? Crypto volume for the industry was significantly lower in the third quarter as major currencies largely corrected the frenzied surge in the second quarter. A sequential drop is a given for Coinbase, and analysts see a 23% drop in revenue from the $ 2.033 billion in revenue generated in the second quarter. This is way better than the big sequential 78% flop that Robinhood just produced. Voyager’s preliminary results for the three months ended September showed revenues were between 39% and 42% down sequentially. Coinbase should do even better given its market leadership, but we’ll find out in two weeks.