Binance or Coinbase Comparison: Many people who want to start trading or buying bitcoin are led to wonder about the best site between Binance and Coinbase. In order to help novice traders as well as experienced traders find the platform that best suits their needs, in this article we will compare different important aspects to take into account when choosing the platform.
Binance vs Coinbase Comparison: Which One To Choose?
Among these points, you will find criteria like ease of use, number of cryptocurrencies available, customer service, trading tools and transaction fees. We also invite you to consult our ranking of the best bitcoin trading platforms in 2021.
Binance or Coinbase, Which Is The Best Platform
✔️Over 300 cryptos available
✔️Ease of use for beginners
✔️Lowest transaction fees
✔️24-hour customer service
✔️Various payment options
✔️Over 50 cryptos available
✔️Ease of use for beginners
❌High transaction fees
✔️24 hour customer service
❌Limited payment options
What is Binance?
The Binance platform is dedicated to buying and trading cryptocurrencies. Binance was founded in 2017, and has quickly responded to user expectations. The Binance platform stood out from the competition and became the industry leader in 2021. Its founder, Changpeng Zhao, is a Chinese-Canadian developer who has designed high-frequency trading software before. Binance is currently the best place to buy bitcoin and other cryptocurrencies.
On this platform, you will have access to one of the largest choices of cryptocurrencies. Indeed, many cryptocurrencies can be bought and exchanged such as Bitcoin, Ethereum, Litecoin, Cardano, Chainlink and several hundred other cryptos. Not to mention the obvious presence of Binance Coin (BNB), which is the official cryptocurrency of the Binance platform. Thanks to this Token, you reduce your transaction costs if you hold it on the platform. Different payment methods are available on Binance. You can buy cryptos directly by credit card, wire transfer, and other payment methods.
The Binance platform is also among the safest and most reputable crypto trading platforms on the market. What’s more, the Binance platform has one of the highest trading volumes in the cryptocurrency industry. On top of that, she also offers efficient customer service, which is reachable 24/7. On the security side, Binance is one of the most secure platforms on the market.
What Is Coinbase?
The Coinbase site was designed by Brian Armstrong and Fred Ehrsam in 2012 to enable the buying, selling and storage of bitcoin as well as other cryptocurrencies. The purpose of the site was to make bitcoin easier to access for everyone. The Coinbase site is one of the best bitcoin trading platforms for people who are just starting out.
Due to its reliability and intuitive interface, Coinbase has quickly become one of the most widely used Bitcoin trading platforms. Not only is Coinbase proving to be one of the easiest platforms to use to buy crypto, but it is also recognized as one of the most secure. The platform brings together millions of users around the world and is authorized in more than a hundred countries. Coinbase allows you to buy cryptocurrencies such as Bitcoin, Ethereum, Polkadot, Litcoin, Stellar, and many more.
Several payment methods will allow you to buy Bitcoin, for example by credit card and by bank transfer. Regarding the transaction fees on Coinbase, the commissions are fair, but still higher than on other Bitcoin exchange platforms.
Binance or Coinbase: Which Is The Easiest Crypto Trading Platform To Use?
Getting started in cryptocurrency trading turns out to be a task that can be more or less simple depending on the platform you choose if you have no trading experience. However, be aware that in 2021, there are platforms that are easy to learn and suitable for beginner investors.
- Binance: When it comes to ease of use, Binance is among the easiest sites for beginners to navigate. Indeed, opening a trading account on this site to buy or sell cryptocurrency is very easy. There you will find different options dedicated to beginners that will allow you to buy, sell and trade many cryptocurrencies in a few clicks without having to worry about the multiple options available.
Our Opinion: Our choice for the easiest cryptocurrency platform to get started with is Binance. The Binance platform is arguably the best solution for people who have no trading experience and want to start buying and trading cryptocurrencies. The Coinbase platform is also an excellent solution for getting started in cryptocurrencies.
Binance vs Coinbase: Which Trading Platform Has The Lowest Fees?
Trading fees can be essential in choosing the trading platform for bitcoin and other cryptocurrencies. It is indeed wiser, if you plan to trade on a regular basis, to favor a platform offering advantageous trading fees.
- Binance: On the Binance side, we find the transaction fees among the most advantageous in the market. On Binance, the commission on trades is 0.1% of the trade amount. This already represents extremely low costs. What’s more, by using Binance’s official token, BNB, you’ll get a 25% discount on all your transactions. So your transaction fee will be 0.075% instead of 0.1%.
- Coinbase: When it comes to Coinbase, the transaction fees are variable depending on the amount of your transactions. For small transactions, the fees are fixed at Coinbase. For example, for a purchase of 25 to 50 euros of bitcoin, Coinbase’s commission is 2 euros, between 50 and 200 euros, it is 3 euros. Beyond that, transaction costs are variable and can be significant. Filing fees will also be considerable, and will vary depending on your country.
Our Opinion: When it comes to fees, Binance stands out from other cryptocurrency trading platforms. The basic commission of 0.1% and which can reach 0.075% if you have the BNB Token is very advantageous. Assuming you plan to trade cryptocurrencies on a regular basis, Binance is likely to be the best choice.
Binance or Coinbase: Which Platform Offers The Greatest Choice Of Cryptocurrencies?
Several thousand crypto-currencies are available on the market. But all these cryptos are not grouped together on one and the same platform. In order to be able to access certain crypto-currencies, you will probably need to register on a specific exchange platform. The main cryptocurrencies on the market, such as Bitcoin and Ethereum, are accessible on most exchange platforms.
- Binance: You will find on this site one of the largest concentrations of cryptocurrencies. We find most of the most famous cryptocurrencies like BTC, ETH, XRP, LINK, DOT, DOGE and many others. The site also allows you to buy hundreds of other crypto currencies that are more or less popular. USD markets are also present, with cryptocurrencies pegged to the dollar, such as USDT or BUSD. Binance also offers a “Launchpad” section that regularly features new crypto projects.
- Coinbase: There are nearly fifty crypto-currencies on Coinbase. Among these are cryptocurrencies like Bitcoin, Ethereum, Litcoin, Uniswap, Chainlink, Filecoin, Aave and many others. There are also other crypto-currencies that are more or less famous. The site is gradually integrating new crypto-currencies into its catalog.
Our Opinion: To date, Binance is more complete in terms of the choice of crypto-currencies. In fact, it contains almost the majority of the most popular new projects at the moment. However, Coinbase also has a sizeable number of cryptos to trade.
Binance vs Coinbase: Which Crypto Trading Platform offers The Best Customer Service?
Customer service is an important consideration when choosing a site to buy bitcoin. Indeed, choosing a site with good customer service is particularly judicious. Whether it is for a trivial question or for a more serious problem, make sure that the platform in question can be quickly reached to assist you.
- Binance: With Binance, you will have access to one of the best customer services in the market. Accessible 24/7, Binance is one of the most active and fastest-responding platforms. In addition, you also have at your disposal a help center where you will find many frequently asked questions and their answers.
- Coinbase: The Coinbase platform has fairly good customer service. This is available 24 hours a day, 7 days a week. You will also have at your disposal a help center where you can find many commonly asked questions and answers. The page is however only available in English.
Our Opinion: Whether it’s Binance or Coinbase, you will have quality and active customer service at your disposal. Binance like Coinbase make sure investors are satisfied by responding to their requests quickly.
Binance or Coinbase: Which Crypto Trading Platform Offers The Best Trading Tools?
The vast majority of cryptocurrency trading platforms provide users with trading tools. Depending on the site you choose, the instruments will be more or less numerous and efficient. With these trading instruments, market analysis becomes easier and can allow you better decision making.
- Binance: The Binance trading platform is equipped with various trading tools to support traders. A large number of useful indicators, charts and the like are available to users.
- Coinbase: With Coinbase, traders will have access to various metrics such as price correlation, holding time, and other tools that you might find useful for trading.
Our Opinion: when it comes to trading tools, Binance appears to be more complete and innovative. You will be able to benefit from a wide range of practical tools, both for novices and experienced traders.
Binance vs Coinbase: Which Crypto Trading Platform offers The Best Payment Solutions?
There are several ways to invest in cryptos. Depending on the platform you are going to use, payment methods may vary. The vast majority of sites offer payment by bank transfer and credit card. However, some sites offer more payment methods like paypal, skrill, and others. Today, it is now quite possible to buy crypto-currencies easily and this, through a large number of payment methods.
- Binance: This trading site offers you to invest in Bitcoin and other cryptos through different payment solutions. Among the many choices are credit card, wire transfer, and e-wallets such as PayPal and Skrill. Besides, there are also payment methods through gift card exchanges like Amazon and Steam, but also other solutions like Western Union and many more.
- Coinbase: This site offers the possibility of depositing funds in order to buy cryptocurrency through credit card and wire transfer. On the other hand, the Paypal option is only available for withdrawals.
Our Opinion: In terms of payment solutions, Binance has the widest choice. You will find a large number of payment methods that allow you to buy bitcoin and various other cryptos from Binance.
Binance vs Coinbase: The Conclusion
Whether Binance or Coinbase, they are both in our ranking of the best sites to buy Bitcoin in 2021. They both offer very reliable and trusted trading platforms. However, Binance differs from Coinbase in many areas and offers lower transaction fees, more payment methods, better usability, and a wider choice of cryptocurrencies.