Binance vs Coinbase
Binance vs Coinbase: which platform costs less? Which has the biggest coin offering and fastest registration process?
Here’s a quick Binance vs Coinbase comparative table and a fully detailed comparison.
$50K within 30 days = 0.1% fee
$10K within 30 days = 0.5% fee buyer and seller fee.
40+ coins supported
29+ coins supported
24/7 customer support. Fast turnaround.
Dependale Email and Phone support.
Under a $5000 withdrawal = no verification needed.
Verification is always required.
In today’s market, crypto exchanges are numerous and offer similarly the same service.
However when you are putting your money on the line, it’s important to not worry about the trustworthiness of the exchange you are using.
Therefore in this article we bring you two of the most known and respected crypto exchanges globally, and help you understand which one will prove to be a great choice for your trading or investment needs.
Binance vs Coinbase Overview
Both Binance and Coinbase have a good hold on the US market. Furthermore, considering the fact that US is the single largest market for cryptocurrencies, it is crucial for an exchange to have a good reputation in that market.
Established in 2017, Binance is one of the fastest growing exchanges and has made a strong name for itself in a very short period of time.
Binance has also launched Binance US in 2019. The new platform is developed specifically for the US market.
On the other hand, Coinbase was founded in 2012. Therefore, it has been in the crypto market for a very long time.
Since many years, the Coinbase exchange has made a strong reputation with its 30 million+ active users. Moreover, it has launched Coinbase Pro – its trading portal.
Binance vs Coinbase – Detailed Comparison
Users can easily register within minutes on Binance through its basic verification level. This level offers an up to $5000 withdrawal limit and requires users to provide basic details such as name, gender, Date Of Birth, billing address and social security number.
Coinbase does not offer any basic verification method. Indeed, it follows a strict approval policy. Coinbase requires users to provide all details including their name, Date Of Birth, address, social security number, source of funds and income/employment proof. Also the platform asks users for their photo ID which can be driver’s license, passport, green card, state ID or selfie.
On one hand, Binance US provides coin offerings for around 40 different coins. These coins include multiple stable coins as well as Bitcoin pairs. Furthermore, Binance International provides coin offerings for around 140 different coins.
Coinbase, on the other hand, provides coin offerings for around 29 different coins, stable coins and Bitcoin pairs.
Binance US offers a hierarchical fee structure that depends on the user’s last 30 days trade volume. For users trading less than $50K within 30 days, Binance US takes a 0.1% fee. Furthermore, it takes a 0.5% fee for instant buy/sell transactions, with a 25% discount if paid in BNB.
Coinbase Pro also offers a hierarchical fee structure that also depends on the user’s last 30 days trade volume. For users trading less than $10,000 within the 30 day period, Coinbase Pro takes a 0.5% buyer fee and a 0.5% seller fee.
Considering the above comparison, it can be well understood that both exchanges offer great benefits to all its users.
Choosing any one of these platforms largely depends upon your trading preferences and strategies you adopt. We hope to have shed a light on both platform, enough for you to make an informed decision,.