Online trading

Binance vs Coinbase – comparison of the best online trading apps

Choosing between Binance and Coinbase can be quite difficult, especially if you are new to crypto trading. You need to choose wisely because cryptocurrency exchanges can greatly affect your experience. Choose the one that suits your investment needs.

First, we’ll go over the basics of Binance and Coinbase. They share features expected from crypto exchanges, such as deposit and withdrawal. Still, there are key differences that could make one better than the other.

Crypto investors are taking their first step into cryptocurrency exchange platforms. Make sure you land on the right one by choosing the best between Binance vs Coinbase. Read on to find out if Binance is better than Coinbase!

What is Binance?

This cryptocurrency exchange platform was born from the hard work of one man. Before founding Binance, Changpeng Zhao worked at a McDonald’s.

He was a Chinese immigrant to Canada who worked hard to support his family. He worked various odd jobs, including a role in the fast food chain.

While playing poker in 2013, he heard about Bitcoin. After some time, he launched his crypto exchange called Binance using a $15 million ICO.

Binance offers the performance of Zhao trading platforms with the potential of cryptos. Nowadays it is the world leader in cryptocurrency trading.

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What is Coinbase?

What is Coinbase?

This platform was born from the dream of a better global financial system. This would allow everyone to participate. Armstrong brain and other like-minded experts thought crypto was the way to go.

This is why they founded Coinbase in 2012. It has around 56 million users in 100 countries. The platform allows them to spend, save, earn and use cryptocurrencies.

Today, Armstrong is the CEO of Coinbase. Some of the world’s leading investors support it, such as Andreessen Horowitz, MUFG and Greylock.

Differences between Binance and Coinbase

Exchange platforms are not all the same. Binance and Coinbase offer similar services but have different features. Depending on where you live, one of them is the best choice.

Both allow you to withdraw and deposit cryptos. They allow you to top up your account via bank account, credit cards or debit cards. You can buy and sell all kinds of digital assets.

If you are a US citizen, your funds are FDIC insured by both platforms. It protects your investments against hacking, theft and other online attacks.

There are many more differences between Binance and Coinbase. Check which one is right for you. Here is an overview of their features:

Supported currencies

Supported currencies

Binance is the clear winner when it comes to available cryptos. You can trade more than 500 coins, while Coinbase only allows 44. Additionally, a lot of new parts join the platform.

It does one thing better than Coinbase. Binance provides users with more types of crypto-to-crypto trading pairs. This is a huge plus for those expanding their portfolio.

Unlike most people, crypto investors seek out lesser-known altcoins. They buy while they are still cheap. They keep them until their price goes up.

Let’s take Ethereum and gimbal as examples. People don’t just use them as money. They also allow people to create NFT. As they gain more apps, their price may increase.

It’s easier to buy more. Once their price increases, they resell them for a profit. Some keep certain pieces which they believe to be the Next bitcoin.

In addition, Coinbase mainly applies to European countries. Meanwhile, Binance serves non-Western countries also, like South Korea and Japan.

Ease of use

Coinbase is much friendlier than Binance. This allows crypto newbies to start investing right away. However, this comes at a cost. Coinbase lacks some features like:

  • Stock tokens – Binance allows you to trade stocks with crypto.
  • Futures Trading – It allows you to short sell or buy cryptocurrencies long term. This allows you to earn much more from trading. On the other hand (pun intended), there is a chance that you will lose a lot of money!
  • Win BinanceIt works like a savings account. You place an amount of crypto and watch it grow every day.

Between Binance and Coinbase, people can choose the latter because it is easier to use. If you are serious about investing, you will need to take the time to learn how to trade.

It is much better to use Binance in this case. You will get all the tools you need. Also, you can check out Binance Academy for all the latest tips and tricks.

Fee structures

If you live in the US, Binance might be better for you. Between Binance and Coinbase, the former has lower costs.

You could get Coinbase Pro to reduce trading costs. Still, Binance is the clear winner as it is already more affordable. Moreover, it also has a pro version!

For a full overview of their fees, click here. If you live outside the United States, you may have to pay additional fees or taxes. Check with your government for more information.

To access

To access

If you live in the US, Binance might not be for you. Its American version is barebones. You might as well get Coinbase because of the lack of features.

Otherwise, you should trade cryptos with Binance. It’s available in more countries, probably including yours. It lets you do so much more to learn and earn with cryptos!

Check if your country allows Binance anyway. Consider other trading platforms such as Kraken or OKEx. If you can’t trade crypto, don’t worry! There are other investment options the low.

Final Thoughts

Fiat currencies may soon disappear. Cryptocurrencies are becoming increasingly popular around the world. They could be our new mode of financing after several years.

Investing in them means benefiting from their long-term growth. Buy them now from online services like Coinbase and Binance. Soon they could become as valuable as bitcoin.

Between Binance and Coinbase, the former is the clear winner. It has more functions and allows you to earn more coins. Still, you have to learn before you can do it.

Start by learning more about how cryptos work. Then check CoinMarketCap for the real-time status of most cryptos. You can sort them by trading volume or market capitalization.

Next, learn more about how to earn those coins. You can get returns faster with day trading. Otherwise, you could just sit around until they increase in long-term value.

Learn more about Binance vs. Coinbase

Which is better Binance or Coinbase?

If you are from the US, Coinbase is much better. Binance US lacks too many features. Otherwise, Binance is the best choice. It has more tools and gives you more ways to win!

Is Binance cheaper than Coinbase?

Yes, Binance is more affordable than Coinbase. It has lower fees and costs, even if you are from the United States or another country.

Why is Binance banned in the United States?

The United States puts more rules on cryptos. the NFTC Binance is currently reviewing as it may have violated specific US laws.

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