Is Binance better than Coinbase?

Binance and Coinbase are two of the world’s most popular exchanges, with the highest trading volume of any exchange.

Where these platforms can be superior in terms of fee, mobile application, unique features, support cryptocurrencies and security.

Image Source: Self-Designed

In this article, we will compare the aspects of these two cryptocurrency exchanges to get a better understanding of the topic and clearance for further cryptocurrency investment based on your needs; finally, we will tell you which cryptocurrency exchange is better to invest in.

Coinbase in brief.

Coinbase is a cryptocurrency exchange run by an American company. Brian Armstrong and Fred Ehrsam founded the company in 2012. It is now one of the most well-known names in the field of cryptocurrency exchange. It serves the users with the asset of crypto and allows them to match up different pairs.

Coinbase is a cryptocurrency exchange where you can purchase popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Coinbase does not support every coin, but it does support over 90 different types of cryptocurrencies.

Meanwhile, thousands of different cryptocurrencies are available all over the world. Nonetheless, Coinbase allows you to trade the most popular types of cryptocurrency, so it serves most purposes.

Coinbase offers products both retail and institutional cryptocurrency investors and various crypto products. It is the first remote based company which has no physical headquarters.

One can trust on the security of the coinbase because it has never been hacked even once despite having many big size accounts.

Pros and Cons of Coinbase.

Pros

1. Regulating cryptocurrency exchange is completely secure.
2. It supports a wide range of cryptocurrency for more options.
3. It works with both iOS and Android apps.

Cons

1.It can be flattering to beginners.

2. Deficient customer service. May be due to no physical headquarters or office.

3. It does not support local payment methods. Which leads to some discrepancy in instead need for cash.

Binance in brief.

Binance is one of the world’s largest cryptocurrency exchanges. Which have very low trading fees, a large trading volume, and a wide range of supported assets.

While the platform can be overwhelming for newcomers, it does provide simplified features such as instant purchases and current function without all of the candlestick charts or order books.

Binance was founded in 2017 by Changpeng Zhao, the company is basically China based company but later the company moved out of China governance due the rules and regulation imposed on Cryptocurrency.

Pros and Cons

Pros

1. The most affordable trading fee structure.
2. Outstanding customer service.
3. Both IOS and Android devices are supported.

Cons

1. It has very few features for US citizens.
2. There is no built-in digital wallet.

Comparison between Binance and Coinbase.

Fees:

As compared to CoinBase the Binance charges very low for cryptocurrency exchanges or trading.

Coinbase charges flat fees as well as extra fees depending upon the mode of transactions.

Additionally, the higher the trading volume the lower the transaction fees get charged.

Features:

Binance.

1. Binance provides many exciting features to increase the engagement of the users on their platform.

1.1 Binance have huge variety of trading options, here is the list :

1.2 Peer to Peer trading.

1.3 Market order

1.4 Limit order

1.5 Stop Loss

1.6 Margin Trading

1.7 Post only order

1.8 Trading Stop order

2. Binance have their own educational platforms known as Binance Academy which are free and provide everything about crypto for beginner levels to advanced.

3. Binance provides regular user rewards to the user to increase participation on their platform. Also users can claim their rewards directly on Binance Rewards Center.

4. Binance has advanced charting for trading.

5. Any Third-party apps can easily integrate with Binance as Binance gives public access to their app keys.

Coinbase.

1. CoinBase also provides short educational videos on their app and rewards the users with a very little amount of free cryptocurrency.

2. CoinBase provides newsfeed which is built in on their app to read day to day updates about crypto currencies and other exchanges.

3. Coinbase have price alerts features which gives notification to their users about any crypto coin price changes whichever they want to track.

Conclusion.

When we are talking about the comparison between the crypto exchange platforms, this both allow you to buy and sell crypto currencies and both offer some similar features to their users.

If you’re an active crypto trader looking to dive deeper into the crypto universe the Binance is a good choice to continue. As it provides very different varieties of trading options and it is a simplified platform to use and supports many cryptocurrencies.

Both Coinbase and Binance are cryptocurrency exchanges with their own set of advantages. Because Binance is not available to US citizens (you can use it, but the offers are limited), if you are a US citizen, Coinbase is the better option, but in terms of overall comparison, Binance is superior.