Binance vs Coinbase: Which is the Best Crypto Exchange?

The two biggest cryptocurrency exchanges used to trade cryptocurrency from anywhere around the planet right now are Binance and Coinbase.

Coinbase and Binance are two of the largest cryptocurrency exchanges in the world, each offering a unique set of features and benefits to traders. While Coinbase is known for its ease of use and beginner-friendly platform, Binance boasts lower fees, higher trading volumes, and a wider variety of cryptocurrencies and trading options. Ultimately, the best exchange for you will depend on your individual needs and preferences.

Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. It is one of the first cryptocurrency exchanges on the market and is fully regulated in the United States. Coinbase provides users with access to some of the most popular cryptocurrencies being traded today. With a simple interface and the option to purchase cryptocurrency using a credit card or bank account, Coinbase has become one of the most accessible exchanges in the world.

Binance was founded by Changpeng Zhao in 2017, around five years after the launch of Coinbase. It is now the world’s largest cryptocurrency exchange by trading volume. However, the service is offered across over 180 jurisdictions, which meant that Binance had to create a new company called Binance US, exclusively for American customers.

Both platforms offer a wide range of cryptocurrencies to choose from. Currently, Coinbase supports around 120 different cryptocurrencies, while over 600 coins may now be traded on Binance’s platform, with more coins being listed each month.

In order to help you pick which platform is best for you, we’ve taken a look at each platform’s currency support as well as its security and costs.

We also recommend eToro as it’s more regulated, and also fully open to the United States, whereas Binance has less coins available in the US. eToro also has copytrading unlike either Binance or Coinbase. Investors often open accounts on several different crypto platforms to take advantage of the varying features.

Update – As of 2024, the only cryptocurrencies eToro users in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.

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Binance vs Coinbase Compared – Quick OverviewBinance – Key Pros and ConsCoinbase – Key Pros and ConsBinance vs Coinbase – Mobile App and Platform OverviewBinance is a one-stop shop for all things crypto, offering consumers a one-stop shop for all their crypto needs. The sophisticated charting, trades, and custom API keys available on Binance allow expert users to go even further into the platform’s technical aspects.

You can create a free Binance account by entering your login information. You may use two-factor authentication and link your bank or payment card after you’ve verified your email address. Once you’ve done that, you’re ready to begin purchasing cryptocurrency.

Buying, selling, and trading cryptocurrencies is made easy with Coinbase. On the move, you may utilise their mobile app for iOS and Android.

Coinbase has a straightforward sign-up process and verification procedure that makes it easy for anyone to kickstart their trading journey. For the first step, you’ll need a government-issued picture ID to create an account for free. You may either take a photo of your ID using the Coinbase app or manually submit it on the Coinbase website.

Once your identity has been validated, you may use a credit or debit card to make your first cryptocurrency purchase.

Some nations may not have access to Binance or Coinbase (as of March 2021).

In order to comply with severe KYC (Know Your Customer) and anti-money laundering regulations in the United States, Binance established a separate platform for U.S.-based customers.

As contrast to Binance.com, Binance.US has a smaller range of cryptocurrencies and fewer trading possibilities. With no margin trading, restricted crypto-to-crypto trading, increased deposit and purchasing fees, and no credit card transactions, Binance US is presently not the best alternative for US citizens.

Coinbase’s complete platform is presently accessible to citizens of the United States and is currently available in 100 countries.

For a more direct comparison, one could compare the two platforms below, with the Binance platform on top and the Coinbase Pro platform at the bottom.

Binance vs Coinbase – FeesThere is a huge difference when it comes to fees between Binance and Coinbase. Trading cryptocurrency and funding your Binance account both cost less when using Binance.

When making a purchase via Coinbase, you’ll pay a fixed cost of around 0.50 percent. Additional fees are imposed by Coinbase dependent on the kind of account used to make the transaction.

There are a few things to keep in mind while using Coinbase to buy bitcoin. It costs up to 9% of the total price to buy and sell a coin using a credit or debit card on the same day.

Crypto investors who plan on buying & holding a coin for the long run should use Coinbase.

Binance provides cheaper transaction costs and a pricing structure that rewards high-