Two leading cryptocurrency exchanges ( binance vs coinbase ) operate in quite different ways. Designed for learners, Coinbase has a basic UI and restricted transaction types. Because of its user-friendly interface and three tiers of trading experience, Binance isn’t nearly as straightforward and in-built for beginners as Coinbase.
We compared Binance and Coinbase side-by-side, along with their features, advantages, and disadvantages.
With Binance, we get the following features:
· You may earn crypto by participating in challenges and giveaways.
· Plenty of indicators and overlays for advanced charting.
· For connecting other software products, public API keys are provided.
· Over 13 different types of transactions are available on the Binance platform.
· Can Use a third-party digital wallet such as Trust Wallet.
· Even though Binance is available in over 180 countries, only 43 states can trade on Binance.
With Coinbase, we get the following features:
· Available in over 100 countries and 49 states, with no trade permitted for Hawaii residents.
· A bitcoin news feed that keeps you up to date with the newest cryptocurrency news.
· Limited charting tools on the Coinbase Pro platform, including the ability to monitor exponential moving averages.
· Make money by viewing videos.
BINANCE vs COINBASE; Pros & Cons
Binance offers more than 500 cryptocurrencies to trade. Trading on a budget might benefit from this service as it is reasonably priced. You may also pick from a variety of transaction kinds, making it a multipurpose option for international consumers.
Every bitcoin newcomer may easily utilize Coinbase since it’s so user-friendly. In addition, it’s regulated in the United States, which is unusual for bitcoin brokers. Cryptocurrency may be purchased in a variety of ways, making it a highly adjustable choice.
However, Binance users from the United States are not allowed to use this platform. Some investors may find it awkward because it lacks a joined digital wallet.
The only downside of Coinbase is that there are high transaction fees and tax rates. There aren’t as many transaction kinds as on other crypto exchanges like Binance.
Binary and Coinbase are both two of the best cryptocurrency exchanges out there. Ultimately, your decision is based on your experience and locality. As a crypto trader, you need to choose the one that best suits your demands.