Welcome to the Binance vs Coinbase conversation.
Coinbase and Binance are two crypto platforms with completely different approaches. While Binance has a very steep learning curve that supports international traders and advanced users with multiple currency trading alternatives, Coinbase is a beginner-friendly U.S.-based exchange accompanied by limited transaction types and a simple interface.
While Binance is user-friendly and provides three different levels organized as per trading experience, it is not nearly very easy to use as compared to Coinbase. The US version of Binance is, however, relatively less robust and is accompanied by limited options.
We put Coinbase and Binance side-by-side to determine the overall expenses for different types of transactions, available altcoins, and accepted fiat currencies for multiple trading purposes. We have also explored the convenience of using mobile and web applications, standout features, customer services, and security protocols.
So, let’s compare these two and find out which suits you the best!
Binance Vs Coinbase: Features
Since the two platforms exist for absolutely different kinds of individuals, you will come across vast differences in their sets of features. But both do offer mobile apps accompanied by live price tracking or watch lists.
But similarities between the two literally stop there.
Features Of Binance:
With Binance, you will get the following features:
- Advanced charting is accompanied by several options available to add overlays and indicators.
- Public API (Application Programming Interface) keys to integrate other types of software tools.
- Seven types of orders on Binance.
- The option for users to use Trust Wallet, a third-party digital wallet.
- Users in more than 180 countries can easily trade on the platform. However, the US version is available to only 46 states, excluding Vermont, Texas, New York, and Hawaii.
Features Of Coinbase:
As compared to Binance, Coinbase provides multiple features for the residents of the United States but relatively fewer options for all international traders. These features include:
- A standalone, secure digital hot wallet which users can use with not just Coinbase but also with other exchanges.
- Users can also withdraw funds to their PayPal accounts.
- Users can earn cryptos by just watching videos. And that too short ones.
- A newsletter that showcases the latest news from the crypto space.
- Coinbase can be used in more than a hundred countries, including the 49 states in the United States, with zero trading options for people living in Hawaii.
- The Coinbase Advanced Trade feature is optional. It comes with advanced charting options, which also include the primary ability to monitor significant moving averages.
Binance Vs Coinbase: Supported Currencies
Binance is popular for its huge list of altcoins, with over 600 options available to users not located in the United States. However, the US version of Binance supports more than a hundred coins.
Coinbase, on the other hand, provides 179 currencies for trading purposes. Moreover, Coinbase supports different fiat currencies, including:
- EUR (Euro),
- GBP (Great Britain Pound), and
- USD (United States Dollar).
Binance, on the other hand, supports multiple fiat currencies such as:
- INR (Indian Rupee),
- HKD (Hong Kong Dollar),
- GBP (Great Britain Pound),
- AUD (Australian Dollar),
- EUR (Euro), and
- USD (United States Dollar).
Both Coinbase and Binance provide multiple crypto pairs, but the numbers keep changing depending on the user’s location.
The currencies that each platform offers vary. For instance, the following cryptos are available on Binance, but you won’t find them on Coinbase:
- QTUM (qtum),
- VTHO (vethor token),
- ONE (harmony), and
- VET (vechain).
But both the platforms support up-and-coming as well as popular currencies like:
- ADA (Cardano),
- LTC (Litecoin),
- ETH (Ethereum),
- BTC (Bitcoin),
- COMP (Compound),
- ATOM (Cosmos),
- STORJ (Storj), and
- DASH (Dash).
Binance Vs Coinbase: Usage And Convenience
Coinbase and Binance are known for catering to two very different kinds of users.
While Binance has a very easy-to-use platform, the sheer number of options can make things very overwhelming for new users. Moreover, Binance is a good fit for individuals familiar with crypto lingo as well as multiple investing options, whereas Coinbase was built with the idea of easy trading and convenience.
Coinbase provides a simple platform for new investors who are looking for secure, easy, and fast ways to trade in crypto.
Both exchanges offer mobile applications with different functionalities.
Moreover, Binance offers the well-known Binance Academy, very similar to Cryptopedia by Gemini, where users can easily access helpful articles or tutorials resembling crypto trading courses. Both the platforms provide a knowledge base and blog, but Coinbase also allows users to earn cryptos by just checking out videos.
However, Coinbase wins this one for its user-friendly interface and strong customer support, including phone support, submit a ticket option and live chat. In contrast, Binance provides live chat, ticket submission, and support via X. You will not find phone support on Binance.
And It’s A Wrap!
And it’s a wrap on the Binance vs Coinbase conversation!
While Binance might be relatively less expensive, Coinbase wins in total. Moreover, the platform is so much easier to use and is blessed with several options for users, particularly for the ones settled in the United States.
In addition, Coinbase provides relatively more options for customer service, including phone support.
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