Forum

Coinbase vs. Binanc...
 
Notifications
Clear all

Coinbase vs. Binance: Which is Better Crypto Exchange Platform

8 Posts
7 Users
0 Likes
233 Views
Ana
 Ana
(@ana)
Member
2
16
Joined: 2 years ago
Posts: 90
Topic starter  

According to Coin Market Cap, Binance is number one crypto exchange platform. Coinbase follows Binance at number 2. Followerd by KuCoin at number 3, Kraken at number 4 and FTX at number 5. Binance has 13.5 million users, where as Coinbase has 13.2 million users.

Binance is owned by Binance Holdings limited, which also owns Trust Wallet and Coin Market Cap. Binance was founded by Changpeng Zhao in 2017, who goes by the name Mr. Z and still is the CEO of Binance. Even though Binance was first created in mainland China, it later moved to Cayman Islands because China made Cryptocurrency illegal.

Coinbase is an American company established in 2012. In April, 2021, Coinbase became world’s first publicly traded company opening at $381 on the Nasdaq stock exchange, in the United States,

Binance is under investigation in the United States for money laundering and tax offence. Binance also had to stop activities in the UK after the UK government order to halt activities. Nevertheless, Binance is one of the most loved crypto exchange platforms. It offers P2P trading that allows you to trade with a seller in your country and receive local currencies as a payment. This feature is not available on Coinbase.


Quote
cmoneyspinner
(@cmoneyspinner)
Reputable Member
16
0
Joined: 1 year ago
Posts: 294
 

It would be difficult for me to say which is better since I don't use either platform. I can only say that I have a friends in countries like Philippines and they use Binance. But I am in the USA, people I know are encouraging me to open a Coinbase account. The main feature is they say it can be linked to my PayPal account. I have to admit that I like that feature.

* Freelancer since 2007. Earn BitcoinCash. *


ReplyQuote
Mariya
(@mariya)
Estimable Member Admin
0
16
Joined: 2 years ago
Posts: 86
 

@cmoneyspinner I think Binance is not available for the US users, it is being investigated for money laundering. Coinbase can be linked to Paypal if you are in the US, but you don't have to do that as PayPal allows crypto investment and crypto payment to the US users. If you have asset on Coinbase and if you have verified your account, withdrawal is simple. 


ReplyQuote
Suba
 Suba
(@suba)
Estimable Member
0
8
Joined: 1 year ago
Posts: 221
 

To answer your question, of course we have to compare both Binance and Coinbase, from a user perspective of course Binance is more numerous, Also in trading pairs there are more available on Binance. The fees for buying and selling crypto on Coinbase are higher compared to Binance.


ReplyQuote
Tanya
(@tanya)
Estimable Member
2
24
Joined: 2 years ago
Posts: 149
 

I have used both and based on my experience, I would choose Binance because Binance offers more coins, better trading pairs, staking options, P2P trading, and many more. However, depending on Binance can be risky because you never know when the government in your country will shut down Binance. (This has happened in many countries. 


ReplyQuote
Ana
 Ana
(@ana)
Member
2
16
Joined: 2 years ago
Posts: 90
Topic starter  

Binance may not be very useful for US users because it is not functional in the US, for the US users Coinbase is a better platform. Long before PayPal implemented Crypto investment on its platform, it had partnered with Coinbase for withdrawal and funding. For the rest of the world Binance looks better because it is available in many countries and it offers a lot id features, including P2P trading. 


ReplyQuote
Jasabong
(@jasabong)
Eminent Member
0
0
Joined: 10 months ago
Posts: 31
 

There is nothing for me to defend Coinbase with because I don't make use of their services, so I'm stuck with my Binance and as such, they will always be better for me well ahead of Coinbase by all means because it's what I make use of for all my cryptocurrency transactions. 


ReplyQuote
Heatman
(@heatman)
Estimable Member
0
0
Joined: 10 months ago
Posts: 143
 

We don't have Coinbase here, so it's not even an option. 

 

Binance is the best for us. All in Nigeria makes use of Binance to the best of my knowledge. 


ReplyQuote
Share: