Which is better? Binance or Coinbase?
world of cryptocurrency trading is competitive, and both trading platforms offer similar services and features. Binance, for example, has been around for less than 4 years, but it has already made a name for itself in the industry. On the other hand, Coinbase was founded in 2012 and was one of the first exchanges to offer BTC / USD currency pairs that were compliant with US regulations. To add to that, Coinbase was also the first company to support Bitcoin Cash ( BCH) when it launched in 2017 and currently has more than $ 8 billion in digital assets under management.
se two platforms are among the most popular cryptocurrency trading platforms right now, but which one is better? To answer that question, we will have to take a closer look at both Binance and Coinbase in this article.
What rates do you charge?
One of the most important factors to pay attention to when choosing a cryptocurrency trading platform is transactional fees. Each exchange charges a certain fee for each purchase made in its native token or digital currency. refore, when trading on Binance or Coinbase, you will have to pay a fee for your buy and sell orders.
In Binance’s case, they charge 0.1% when they buy with BTC or ETH and 0.2% when they buy with USDT, but they don’t charge fees when they transfer their funds off the platform. y also have a Refer-A-Friend referral program that pays 0.5% of all funds purchased for each person who refers to the site.
Also read Trust Wallet Guide: fees, bets and supported currencies
On the other hand, Coinbase charges 0.1% for purchases of BTC and ETH as well as its own coin (CoinBase coin) and does not have any referral program. To transfer money outside of their platform, you will need to pay a 1% fee.
What fiat currencies are supported?
Both trading platforms support a wide range of fiat currencies for buying or selling cryptocurrencies, including: USD, EUR, GBP, JPY, KRW, and more. Coinbase accepts clients from the US, Canada and EEA (European Economic Area). Binance accepts most of the world’s fiat currencies with a few exceptions like the Chinese yuan.
What cryptocurrencies are supported?
When getting started in crypto, you will find that you need to research which currencies are accepted on which exchange. refore, this is an important factor to consider when choosing a currency to invest in and which platform will offer the best value for your investment. In this article, we will look at what is currently supported on the respective Coinbase and Binance platforms for buying and selling cryptocurrencies.
digital currencies currently available on Coinbase include: BTC, ETH, LTC, BCH, and ZEC among others. On the other hand, Binance allows users to buy: BTC, ETH, XRP, EOS, DASH and LTC among others.
Which exchanges have the lowest fees?
One of the most important factors when choosing a cryptocurrency trading platform is how much you will pay for your trades. For this reason alone, it is important to see which exchanges have the lowest fees and where to look if you want to pay the lowest fees possible.
In this article, we will evaluate which exchanges have the lowest exchange fees when buying cryptocurrencies with fiat currencies. Coinbase does not charge fees for buying cryptocurrencies, but does have a fee for transferring outside of its system (0.1%). Binance charges 0.
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Are there any deposit or withdrawal fees?
For every cryptocurrency exchange you use, you will likely have to pay fees when you use your own funds to buy and sell cryptocurrencies. In this article, we will see what deposit and withdrawal fees are charged by Coinbase and Binance. Both exchanges do not have a fee for the deposit of the purchase of cryptocurrencies. However, Binance charges 0.1% for withdrawing funds from its platform. Coinbase also charges a withdrawal fee – a US $ 10 wire transfer fee per withdrawal (US domestic bank account). Meanwhile, Binance charges 0.1% for your coin withdrawals and deposits, while it has no transaction fees on its trading platform.
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