Binance vs. Coinbase: Which Crypto Exchange Is In 2022
The world has seen a rapid increase in the use of cryptocurrency around the world. Because of the different types of crypto exchanges, it can sometimes be difficult to choose which one is best for you. Recently, Binance and Coinbase are two popular crypto exchange sites that people use. But users want to know which of these is better.
They both offer a variety of services including stocking, peer-to-peer crypto transactions, payment services, corporate services, educational resources, and more. Despite their similarity in basic features, they have many fundamental differences that make one work better than the other.
Let's compare Binance and Coinbase side by side. Binance and Coinbase are two of the largest cryptocurrency exchange platforms in the world. Many people wonder how the two platforms connect face to face. If you want to go deeper into a crypto exchange platform, you have often stumbled upon these names in your research journey. So we have collected some important information about the two sites and listed them here.
What is Binance?
Binance is one of the largest cryptocurrency exchange platforms in the world based on the daily trading volume of cryptocurrencies. Binance is a high-performance cryptocurrency exchange website that allows users to carry cryptocurrencies, tokens, issue new tokens, add crypto pairs, and exchange tokens.
Binance was founded in 2017 by developer and Fintech entrepreneur Changpeng Zhao. The company was originally based in Shanghai, China, but moved its headquarters to Japan and later to the Cayman Islands amid mounting pressure from government officials on cryptocurrencies.
What is Coinbase?
Coinbase is one of the oldest cryptocurrency exchanges operating today. Unlike Binance, Coinbase is very popular among US investors for its user-friendly Internet and mobile application services. It is a public trading company that facilitates investors to own cryptocurrency shares.
Coinbase is North America's largest cryptocurrency exchange site by trade volume. The American company was founded in 2012 by Brian Armstrong & Fred Ehrsam, an Airbnb engineer. Since its inception, Coinbase has grown from a vague San Francisco to an $ 86bn + public trading company.
Binance Vs Coinbase Overview
Comparing the biggest crypto exchanges entirely in every aspect is an impossible one, and the comparison could vary periodically. So At sellbitbuy, we just want to compare binance vs coinbase based on the 7 important aspects, as listed below.
- Marketcap/ Trading Volume
- Supported Cryptocurrencies
- User Volume
- Supported Wallet
- Trading Features
- Transaction Fee
- Trading Pairs
#1 Market cap/Trading volume
Binance
Binance market capitalization of around US$18B Now. And the trading volume of $7.7 trillion.
Coinbase
Coinbase market capitalization of around US $86 billion. And the trading volume of $797 billion.
Source: Coinmarketcap
#2 Number of supported cryptocurrencies
Binance
Globally 313 supported cryptocurrencies on Binance.
Coinbase
Overall Coinbase access to 122 cryptocurrencies
Source: coinranking
#3 User’s volume
Binance
Binance active user volume in 28.6 billion user
Coinbase
Coinbase has 56 million verified user
Source: businessofapps
#4 Trading features
Binance Features
- Cross collateral
- Leaderboard
- Battle
- Price Protection
- Asset Conversion
Source: Binance
Coinbase features
- Trading Bot
- Powerback Trade Matching Engine
- Dispute resolvement
- Anti-phishing software
#5 Wallet support
Binance
- Binance Chain Extension Wallet
- Arkane Wallet
- Math Wallet
- MetaMask
- SafePal
- TokenPocket
- Trust Wallet
- ezDeFi
Source: Binance
Coinbase
- Trezor
- Exodus
- Ledger
- SoFi
- Robinhood
- Mycelium
#6 Fees comparison
Binance
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
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
Source: Republicworld
#7 Trading pairs
Binance trading pair 1216 above.
Coinbase 365 trading pairs only
Source: Coinranking
Which one is better?
In conclusion, we conclude that both trading platforms certainly assist their users in cryptocurrency transactions. But since it has been in business for longer than Binance, Coinbase certainly has some of its advantages. It offers different types of cryptocurrencies to trade. In addition to the number of cryptocurrency options, the availability of the platform in your country is also important.
Where to build apps like Coinbase or Binance
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