Binance vs. Coinbase: Features, Differences & Fees

 

The standardization of the Crypto world is closer than ever before.

Buying, selling, and trading cryptocurrency is, for many, an everyday activity.

Both regular and active users of the crypto universe are constantly looking for the best crypto services to ensure a good, efficient, and safe experience.

And that’s when both Binance and Coinbase come into the scene: these are two of the largest cryptocurrency exchanges out there.

But being big doesn’t necessarily equate to being a good exchange platform, so which one of these two is the best?

This blog post will show you all the information you are looking for about:

• Binance vs.Coinbase: let’s compare the two platforms;
• Things that many users need to know about Binance and Coinbase;
• Unique features and services offered in these largest crypto exchanges.

Binance and Coinbase: Two of the Best Crypto Exchanges

Comparing Binance with Coinbase is a must these days.

With so many options out there, both beginners and advanced users want to make sure they are choosing the right crypto exchange.

There’s a reason why Binance is the biggest crypto exchange in the world, and why Coinbase users’ number surpasses 73 million.

But before we take a look at Coinbase, compare it with Binance, and determine which one is the best, let’s take a look at the shared features of both platforms:

• Crypto wallets: both platforms offer non-custodial digital wallets for the user’s assets. Nonetheless, Coinbase has a separate platform, Coinbase Wallet, which is safer.;
• Mobile app: Coinbase, Binance, and even other crypto exchanges, have mobile apps, so device management is as easy as it gets;
• Withdraw money: since we are talking about centralized exchanges, you can Withdraw Money from Coinbase and also Withdraw Money from Binance directly to your bank account;
• Trade cryptocurrency: beginners and advanced traders can start trading cryptocurrencies on both platforms. Of course, the trading tools are slightly different since there are multiple trading interfaces, but overall active traders will find a higher trading volume in Binance than in Coinbase.

Binance vs. Coinbase: Face to Face

Now that you know some of the shared features of these platforms, it’s time to take a look at those things that differentiate one exchange from another.

Binance vs. Coinbase Security Features

Let’s talk about security.

Coinbase and Binance users sure want their personal data protected at all times.

Luckily, the security features of both exchanges are top-notch.

Binance supports Two-Factor Authentication as well as Google Authenticator App.

So does Coinbase, which also includes biometric access to the user’s built-in wallet, which works as cold storage for the funds.

On the other hand, Coinbase offers its separate wallet, as mentioned before, but Binance has a partnership with Trust Wallet directly integrated into the crypto exchange.

What’s more, among Binance and Coinbase account features, we have an address whitelisting option so only certain addresses can access your funds.

Overall, both platforms offer robust security features that users will undoubtedly appreciate.

Binance vs. Coinbase Digital Currencies

You can trade cryptocurrencies easily on both platforms.

Coinbase is more intuitive for those who are starting with any digital currency, but the list of Coinbase Coins is not as extensive as Binance’s.

Binance has a wide array of coins that crypto traders will certainly appreciate.

Selling crypto, finding assets on the cryptocurrency market, margin trading, charting tools, and custom API keys are just some of the options that trading enthusiasts have.

Nevertheless, both platforms offer standardized payment services.

Among the accepted payment methods both in Binance and Coinbase Global, we have:

• Direct bank account deposits;
• Debit card transactions;
• Credit cards;
• And more.

That being said, there’s a clear winner when it comes to the number of cryptos available, advanced trading options, and the alternatives in the crypto market: Binance. Learn more about Binance Crypto Market here.

Binance vs. Coinbase Network and Trading Fees

Now that we have evaluated Binance coins, it’s time to look at the fees.

There are no secrets here: Binance has lower fees than Coinbase.

High-volume traders often find low fees depending on the amount of crypto they are trading.

These fees are usually around just 0.1% of the total amount.

On the contrary, the average Coinbase fee costs about 4%, which is significantly higher.

However, it’s important to mention that this highly depends on many factors.

Therefore, we recommend visiting both sites’ official fees tables: Coinbase Fees and Binance Fees.

Coinbase vs. Binance: Unique and Advanced Features

There are some things that make each platform unique and might help you make a firm decision when it comes to choosing only one cryptocurrency exchange.

Binance Platform Features

Among Binance unique features, we have:

• Users rewards: users can claim prices on the Binance platform using coupons;
• Binance Academy: Binance’s institutional services are aimed at those who want to learn more about trading and other crypto operations;
• Crypto Loans: Do you want to borrow some sweet Bitcoins? Binance offers the possibility to get a crypto loan easily.

Coinbase Crypto Exchange Features

Now, let’s see Coinbase unique features:

• Coinbase Blog: Although Binance also has a blog, Coinbase’s News Feed is highly interesting and full of crypto’s best practices;
• Educational resources: Coinbase has educational videos for all users to learn a wide variety of topics regarding the crypto universe;
• Free cryptocurrency: As you read it - there’s free crypto! Users would need to complete certain “challenges” to receive crypto rewards from Coinbase.

Final Words - Which Cryptocurrency Exchange is the Best?

So, which one is the best? It depends on your needs.

Nonetheless, if you are looking for more cryptos, lower fees, and more trading options, we’ll recommend you go with Binance.

On the other hand, if you want a safe environment and a simple user interface, combining Coinbase with Coinbase Crypto Wallet would also be a great option.

At the end of the day, the decision is entirely yours.

Binance vs Coinbase FAQ

Can You Use Binance in the US 2021?

Binance US is a targeted platform at the United States market, but it’s excluded in 7 states: Hawaii, Texas, Vermont, Idaho, Louisiana, Connecticut, and New York.

Are Binance, Coinbase, and other Cryptocurrency Exchange Platforms Safe?

Binance, Coinbase and other platforms often offer enhanced security measures, so user’s funds and data are safe enough.

Nonetheless, it’s highly recommended to check the project’s background before deciding to invest your money in it.

About the author

Steve

Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.