Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Reading: Binance Vs Coinbase: How Do They Compare?
Share
  • bitcoinBitcoin(BTC)$28,464.00
  • ethereumEthereum(ETH)$1,822.88
  • tetherTether(USDT)$1.00
  • binancecoinBNB(BNB)$317.12
  • usd-coinUSD Coin(USDC)$1.00
  • rippleXRP(XRP)$0.53
  • cardanoCardano(ADA)$0.396171
  • dogecoinDogecoin(DOGE)$0.077343
  • staked-etherLido Staked Ether(STETH)$1,818.63
  • matic-networkPolygon(MATIC)$1.12
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
  • Services
  • Know Us
Search
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > VOC Explained > Binance Vs Coinbase: How Do They Compare?
VOC Explained

Binance Vs Coinbase: How Do They Compare?

Adekunle Joshua
Last updated: 2023/03/14 at 1:27 PM
Adekunle Joshua Published June 15, 2022 March 14, 2023
Share
Binance-Vs-Coinbase-How-Do-They-Compare

Binance is the undisputed largest cryptocurrency exchange in the world. It was founded in 2017 and currently has its founder, Changpeng ‘CZ’ Zhao, as its CEO.

Contents
Ease Of UseFees And Cost Of TransactionsRelative Safety Of InvestmentsNumber OF Coins To Choose FromControl Over One’s TradesFinal verdictIn Conclusion

Another top choice in this category is Coinbase.  Coinbase is an American company that owns and operates a cryptocurrency exchange platform. It was founded by Brian Armstrong and Fred Ehrsam and is one of the top choices of cryptocurrency investors and traders.

There is, however, some confusion as to which to choose, especially among newcomers and people looking to switch from one exchange to another.

Regardless of one’s reason for choosing a new cryptocurrency exchange, there are a few factors to consider before making a choice. Some of these factors include

  1. Ease of use.
  2. Fees and cost of transactions.
  3. Relative safety of the investment.
  4. Number of coins to choose from.
  5. Control over one’s trades

In the following sections, we tabulate these categories and attempt to compare the two exchanges.

Ease Of Use

Binance is easy enough to use. But the number of choices available to its users can add unnecessary complexity to its interface. This can prove to be overwhelming to newcomers.

As far as beginners go, Coinbase offers fewer choices, making it easier for the inexperienced to make their way around. Newcomers and the experienced alike can enjoy convenient and easy trading.

In this category, the winner depends on your experience with the market and how many choices you are willing to consider.

Fees And Cost Of Transactions

In this category, Binance offers lower fees than Coinbase.

Binance takes 0.10% commission on spot trading and 4.5% on debit card transactions. Coinbase, on the other hand, takes 0.5% per trade and 3.99% for credit card purchases. Wire transfers cost $10 for deposits and $25 for withdrawals.

As far as this category goes, Binance wins.

Relative Safety Of Investments

 Binance offers two-factor authentication via SMS or Google Authenticator, FDIC-insured USD balances for US accounts, U2F security via a hardware key, cold storage, address whitelisting, and device management.

Coinbase, however, offers two-factor authentication via SMS or google authentication app, insurance in case Coinbase is ever breached, cold storage, fingerprint logins, FDIC insurance of up to $250k on balances, and AES-256 encryption for its digital wallets.

In this category, Coinbase wins.

Number OF Coins To Choose From

While Coinbase offers only 44 coins, Binance offers over 500 for global traders and 60 for US-based traders.

Binance offers more than tenfold choices compared to Coinbase, but both offer all the major currencies, including bitcoin, Ethereum Cardano, and Uniswap, to mention a few.

Binance wins in this category.

Control Over One’s Trades

Coinbase only offers to buy, sell, receive, send, and exchange options. Binance, on the other hand, offers 

  • Margin trading
  • Peer-to-peer trading
  • OCO or “One cancels the other” orders
  • Limit orders
  • Market orders
  • Stop limit orders
  • Trailing stop orders

In this category, Binance offers more control over one’s trades than Coinbase.

Final verdict

Coinbase is far less complicated to understand than Binance and is the perfect choice for beginners. It has a cleaner interface and more significant advantages as far as security goes.

Binance, on the other hand, has lower fees and is great for experienced traders who already know their way around the crypto market. It offers greater trading options, allowing its users greater control over how their trades open, close, and generally execute. The only downside is that using Binance has a steeper learning curve.

In Conclusion

In all, it is essential to understand that the crypto market is a highly volatile one. Trading cryptocurrencies is subject to a lot of risks that newcomers, as well as the experienced, might find overwhelming.

This article is for educational purposes only and is not a recommendation to invest in cryptocurrencies.

You Might Also Like

10 Top Crypto Airdrops for April 2023

Assessing the Odds of Bitcoin Price Surpassing $30K

SEC Head Gensler Seeks $2.4B to Fight Crypto Corruption

MetaMask Issues Warning on Fake Airdrop Rumors

3 Bearish Price Indicators Every Bitcoin Trader Must Know About

TAGGED: Bitcoin, Crypto Exchange, Ethereum
Share this Article
Facebook Twitter Email Copy Link Print
Previous Article Here-Are-The-Three-Biggest-Differences-Between-Cryptocurrencies-And-CBDCs2 How Blockchain Could Change our Life, Economy, and the World
Next Article ArcadeNetwork- Project Review ArcadeNetwork: Project Review
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
Elon Musk AI Crypto
Why Elon Musk Called for a Pause on AI Development
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

  • Advertise With Us
  • About Us
  • Privacy Policy

Copyright © 2023 Voice of Crypto. All Rights Reserved

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?