Binance vs. Coinbase, Which Platform is Better for a user?

By Juliet D'cruz

Binance and Coinbase are the two cryptocurrencies that a user can find today. These are the exchange platforms organized to buy, sell, and trade currencies.

What is bnb? Binance(bnb) gives a vast range of trading tools for experienced crypto traders; it is the world’s biggest crypto exchange if we measure it in volume, but not every feature is available to American residents. In contrast Coinbase is a useful on-ramp for novices to purchase their 1st cryptocurrency. Coinbase is a U.S.-managed exchange with numerous consumer protections to assist in keeping the investors safe.

How do they work?

Binance is a cryptocurrency exchange that works the same as an online brokerage house to buy, sell, and trade digital currencies. Users need to develop an account and put funds through a standard financial account or credit card to buy cryptocurrency. Users can withdraw this currency to their digital wallet or can utilize the Binance platform to operate them.

Coinbase works in the same way, permitting users to invest fiat funds and exchange them into cryptocurrency. The basic difference is that Coinbase does not provide advanced trading options like futures, limit orders, and options.

Binance and Coinbase Fees:

If we see Binance vs. Coinbase Comparison at a Glance about fees, we will observe a significant trend. Overall, Binance charges quite less for trading cryptocurrencies as well as a funding user account.

Coinbase charges from users an average flat fee of approx. 0.50 percent per transaction. In addition to this, Coinbase also charges additional fees depends on the account used in the transaction.

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Binance and Coinbase fee comparison chart

Binance transaction fee:

  • Buy/Sell with Bank Account: 0.10%
  • Buy/Sell with Wallet: 0.10%
  • Buy/Sell with Credit/Debit Card: 1.10%–2.10%
  • Instant Card Withdrawal: N/A
  • Wire Transfer (USD): Free
  • Exchange Crypto: 0.10%
  • ACH (USD): Free

Coinbase transaction fee:

  • Buy/Sell with Bank Account: 1.99%
  • Buy/Sell with Wallet: 1.99%
  • Buy/Sell with Credit/Debit Card:              4.49%
  • Instant Card Withdrawal: Up to 1.5%
  • Wire Transfer (USD): $10 ($25 outgoing)
  • Exchange Crypto: 2.00%
  • ACH (USD): Free

Unique features of Binance and Coinbase:

The user should analyze all the necessary metrics of his chosen cryptocurrency exchange & compare the fact and figures side by side with his thorough Binance vs. Coinbase comparison chart.

Binance special Features:

  1. User rewards: Binance mostly holds giveaways and challenges to expand user involvement on their platform. Users can declare these prizes in the Binance gift center.
  2. Binance Academy: Binance hosts its assistance-free platform called Binance academy. From newcomer crypto knowledge to advanced tutorials based on trading, Binance academy is a single-stop shop for crypto-related things.
  3. Improved charting: Binance helps users develop advanced charting with several overlays and indicators through the inserted trading view charts.
  4. Massive variety of trade options: it provides one of the widest range arrays of trade kinds on any exchange. Here is a quick view of some of the trade options available:
  • Limit order
  • Market order
  • Stop market order
  • Trailing stop order
  • One-cancels-the-other (OCO) orders
  • Time in force limit orders
  • Limit TP/SL order (strategy order)
  • Pool liquidity

Coinbase special features:

  1. Free knowledge: Coinbase assists users by providing short educational videos that give a walkthrough of several cryptocurrency projects.
  2. Newsfeed: Coinbase provides a built-in newsfeed to update the users on crypto news and its developments.
  3. Pricing awareness: Coinbase users can get alerts about price variations of the cryptocurrencies they want to trace by mobile apps. 

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