Coinbase Pro is a regulated firm where customer’s funds are insured by FDCI, while 98% of crypto funds are stored in cold storage. Binance was forced to apologize and offered 70% discounts on trading fees for the trouble the update caused. Binancewas created in 2017, but it has overtaken Coinbase in many ways. All in all, both platforms have better security records than most other exchanges, but Coinbase Pro is better as it is more open and honest about where it stores user funds. Both platforms allow mobile trading for their users. In March last year, hackers stole user login details and tried to rob the exchange. Although they offer “SupportBot” services for general inquiries. You can buy, sell, and exchange tokens like Ripple (XRP) and Eos, or even stablecoins. The platform is user-friendly and straightforward. Compare the two trading platforms, Binance and Coinbase Pro. Coinbase is an American cryptocurrency exchange, one of the largest cryptocurrency exchanges in the world. Both Binance US and Coinbase Pro are two of the top crypto exchanges in the world. Binance vs Coinbase. advisor or other qualified financial professional if you are seeking investment advice on an ICO, It’s not clear how Binance manages its customer’s money, and this worries many customers. You can also check out our in-depth reviews and user guides for both exchanges linked below. The company is headquartered in Malta, and also, it has offices in Taiwan, Japan, and China. But lower trading volume compared to Binance, but higher volume than Kraken. As far as withdrawal fees are concerned, those made through SEPA cost $0.15, whereas a standard wire transfer in the United States costs $25. Coinbase Buying / Deposit Fees Coinbase Pro supports only the key players on the crypto scene, namely, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. While that fact still hasn’t changed, experienced traders are growing in number, and many companies are deciding to invest in cryptocurrencies too. How to register? "locale": "en" They don’t require KYC, so many users have registered more than one account. Compared to Coinbase Pro and its sister-platform Coinbase, Binance is relatively new on the crypto market. Our team has set out to help you on this path with informative and unbiased crypto exchange comparison guides. Likewise, Binance has been up and about for the last couple of years, and it has strived to cement its name at the top tier of the crypto exchange market. It now goes by the name Coinbase Pro as a reminder of the fact that the platform was designed as an extension of Coinbase aimed at seasoned and institutional traders. No users lost funds, and the hackers’ funds were donated to charity. In this article, we’ll compare both exchanges using many factors, namely, currencies accepted, fees charged, customer support, security, etc. This is a system where each account has two kinds of passwords. Each one of them offers a wide variety of crypto coins to invest in. Posted by just now. The information on this website is for information purposes only. The exchange was founded by the ex CTO of OKCoin, Changpeng Zhao who raised $15 million in funding via an ICO(Initial Coin Offering). So, it is a comparison of the best crypto trading platform lowest fees; Binance vs Coinbase Pro vs Kraken. Coinbase Pro is one of the top exchanges in the market as its high liquidity and limits have endeared it to traders executing large trades. Neither platform has a live-chat support option on its home site. That’s why, if you ask anyone for advice on which crypto exchange to choose as someone who is new to the crypto market, they will direct you straight to Coinbase. Binance Jersey is Centralized and Coinbase Pro is Centralized. Binance has some of the lowest trading fees on the crypto market. The two platforms exist to serve crypto traders both experienced and those who are new to the craft as they take their first steps into the crypto trading world. As recently as June 2018, the platform’s users reported missing funds following a planned system upgrade. Thanks to SAFU, the traders were reimbursed for their loss. Coinbase vs Binance cryptocurrency exchange overall score comparison reveals that Coinbase has a higher overall score of 9.8, while Binance gathered an overall score of 9.6. If you are already a crypto trader, potential trader or just a crypto follower, certainly you are more than aware of the Coinbase Pro vs. Binance debate—as they’re two of the biggest cryptocurrency exchanges in the world. Both exchanges prefer communication with their customers by email. The setup process is quite similar on both platforms. Binance offers its services at a very low rate of fees. In contrast, Coinbase Pro also offers low fees even though they can be a little bit high, they range between 0.1% and 0.25%, for take traders, and it offers zero fees for maker traders. However, Japan turned out to be far from crypto-friendly as the Japanese Financial Services Authority (JFSA) followed Binance’s every move. But before that, let’s have a brief overview of both platforms. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. Coinbase may include users across all of their products - Coinbase, Coinbase Pro, Coinbase Wallet, and Coinbase Earn. Coinbase Pro and Binance are quite different in terms of supported cryptocurrencies, trading pairs, and fiat exchanges. The differences between the two will include data like your business name, location and CEO when creating a business account. The good thing about Coinbase Pro is that it belongs in the group of the so-called “Fiat Gateway” platforms which allow fiat-to-crypto exchanges. Binance allows you to choose between two trading platforms: Basic and Advanced. Share 0. Coinbase Pro also has a highly convenient 24/7 live chat and support lines for urgent queries. At present, the team at Binance is looking for partners to form a billion dollar investment fund together. The platform has been reconsidering fiat exchanges and has recently added restricted availability on making fiat deposits and withdrawals via cards and bank transfers. Coinbase ProPer Coinbase Pro user agreement, customers are permitted to have one business and one personal account. Makers are even allowed to trade free of charge! Binance is regulated in Malta under the newly enacted Virtual Financial Assets (VFA) Acts but other than that it hasn’t been registered with any legislative board. Binance.US’s trading fees begin at 0.1% while Coinbase Pro’s fees start at 0.5%, but both offer fees as low as 0%. Two of the most used exchanges are Coinbase Pro and Binance. While this is essentially true, the same thing can be said of any unfamiliar platform that you’re just beginning to use. Binance draws out 10% of all trading fees to fund SAFU which is just enough when you take into account the huge daily trading volumes on the platform. This will allow you to enter the trading market and place your first order. In 2018, Binance went one step further with its safety measures and introduced the Secure Asset Fund for Users (SAFU). I'm thinking of switching to that exchange instead, but if it's just the same deal with support then it doesn't seem worth the bother. In order to continue serving American customers, Binan… In this Binance VS Coinbase comparison, we're going to discuss two of the biggest crypto exchanges on the market.I’m going to tell you what they are, what services they offer, and how safe they are to use.Because this is a Coinbase VS Binance review, I’m also going to tell you which exchange is best for newbie traders.. Coinbase Pro (initially called GDAX) was expected to offer more cryptocurrencies, worldwide access, and more protection, in line with the financial regulations of the California state. Binance Jersey has a mobile app available for iOS and Android. Some of the crypto coins supported on the exchange include EOS, Cardano, NEO, Lisk, Steem, Gifto, Bitcoin, USDT, Ethereum, Binance Coin, and many more. As for withdrawals, there’s a limit of $10,000 per day on those. Coinbase vs Binance If you’re new to the cryptocurrency space, it’s possible that the only exchanges that you’ve heard of are Coinbase and Binance. First click the link to go to Binance’s registration page. by admin February 10, 2021 February 10, 2021 0 141. Despite its relative youth, the exchange has become extremely popular, and is the go to option for a larg… Interestingly, for all trades, it charges only a 0.1% fee on the exchange. The online wallet requires two-factor authentication for any account activity. "width": "350", This is a fantastic alternative for more experienced traders. The reason behind the limited choice of coins is the security aspect as most of the lesser-known coins have yet to pass the Digital Asset Criteria set by Coinbase and later on adopted by Coinbase Pro. Both exchanges use two-factor authentication to protect user accounts. Coinbase Pro employs the maker and taker fee structure and evaluates your trading volume in the last 30 days before it determines your fee. How to register? General. Step 1: Go to the Binance registration page. Additionally, Brian Armstrong has been ranked number 10 on the Forbes list of the most influential young people in the business. At Crypto Head we aim to give people the knowledge to get involved in the fastest moving industry on the planet. Binance has far more lax restrictions on registering accounts. However, this does not impact our reviews and comparisons. Unfortunately, Coinbase Pro and Binance need to improve in this area too. For takers, there is an additional charge of 0.30% per trade. Author: James Page Binance is very active on social media, especially Twitter, with CZ posting frequent updates about the activities of the company to ensure maximum transparency. Gemini is one of the most famous crypto exchanges. Coinbase Pro has a confidence score of 100% And an overall trading volume of 46 419.88 BTC So it has a 100% score in confidence, which is best in the business. About Coinbase.com: Coinbase is one of the leading digital asset exchanges based in San Francisco, California. If you’re a maker, which means you bring liquidity to the platform, you literally get to trade altcoins for free! Finally, the company decided to settle down in Malta which is considered to be a global leader in crypto regulation. Though there are several other options as well, these exchanges are operated by two of the most recognizable crypto companies in the world, both of which have a major U.S. presence. The team of experts at Coinbase was already experienced in handling the security challenges faced by crypto platforms and used the same high-level security measures when designing Coinbase Pro. Coinbase Pro takes 2-3 days to reply to email queries from customers. However, it offers more experienced traders all the information and features they need in a simple, clear way. When weighing up the pros and cons of the Coinbase vs Binance debate, it is first of all important to establish whether or not you intend to trade many different coins, or rather just hold (hodl) a few larger coins over a longer period of time. In 2017, Coinbase became a unicorn making it the first crypto exchange to achieve a $1 billion valuation. Today, we have Coinbase Pro and Binance in the spotlight, two fairly new but surprisingly trust-worthy platforms with millions of traders across the world. The platform managed to raise $15 million through an ICO in July 2017. Binance does not offer fiat trading. Next, you need to verify the account with an email and a photo ID. This discount applies during the first five years. The system detected the hack and stopped it. In exception of the latest breach, the platform’s security team has been praised for protecting its users’ money from hackers. Step 2: … Even when the security breach happened, they managed to buck up and solve the problem readily. ... For anyone who uses Coinbase (and Coinbase Pro), how does their support compare? 1. Before making any financial commitment you should seek professional advice from a qualified investment or financial adviser. In brief, Binance is one of the most innovative cryptocurrency exchanges in the market. Our Coinbase vs Binance article compares the two with appropriate information to help you decide the right choice for a profitable investment. Why is this important? This allows users to analyze data quickly without having to switch away to another screen. Coinbase was founded in 2012 while Binance was founded in 2017. However, if you learn this trick, you don’t have to pay any transaction fee on the platform. The support section does show users how to make almost instant wire transfers. Step 1: Go to the Binance registration page. However, the processes of creating them do differ slightly. , and the second is sent to the user’s mobile phone or created by an App like Google Authenticator. Please consult a licensed investment If you’re a newbie, go with the first one. Binance is backed by a stellar team, spear-headed by CZ who is an experienced marketer with an impressive background in the crypto industry. The users will be able to withdraw their funds a little while longer but making trades and deposits is already disabled. All in all, both exchanges are great, and they are among the best in the industry. Gemini. Binance requires its users to install the commonly used 2FA so that even if hackers attempt to access your account, they won’t succeed without accessing your mobile device as well. A very useful feature is the FAQ section – the perfect resource for any type of clarifications and additional explanations you might need. Close. It’s well known for giving away cool prizes to its top traders. Binance fees won’t make any difference to makers but for takers, this platform is the clear winner. Coinbase Pro has a mobile app available for iOS. Coinbase Pro and Binance are quite different in terms of supported cryptocurrencies, trading pairs, and fiat exchanges. In this review, we’ll break […] Binance vs Coinbase . Interestingly, the exchange added eight new coins in 2018. { The major advantage of the platform lies in the two types of wallets used: an online ‘hot’ wallet that stores only 2% of your funds to be accessed at all times, and an offline ‘cold’ wallet known as cold storage to keep the majority of your funds disconnected from the Internet. You can transfer funds from a Coinbase account for free. He's responsible for most of the content on the site, trying his best to keep everything up to date and as informative as possible. The wallets and private key are safeguarded with AES-256 encryption, established by the U.S. National Institute of Standards and Technology. Presently, the global crypto market is worth over $250 billion, and quite a large part of the market is covered by these two platforms, which shows their significance in the crypto industry. Looking for the crypto exchange of your trading dreams? It also has its own cryptocurrency called Binance Coin (BNB). In order to use both of these platforms, you will need a user account. The exchange has a detailed FAQs section, which many traders find useful. The cryptocurrency market is worth more than $320 billion today. The unexpected growth in popularity was to a large extent the result of the user-friendliness of the platform, their simple, minimalistic design, and basic trading options. There’s no need to register yet, just click on the “View Exchange” button and you’ll get a real-time view of the order book, price charts, trade history, and available trading pairs. Global Digital Asset Exchange or GDAX was launched as a separate crypto exchange in 2016. This is how the idea for Coinbase Pro was born. First, you register and fill in personal information to create your account. Tired of trying out platforms that don’t work for you and your investment plan? At first glance, the darker-colored dashboard and lack of illustrations can be off-putting. Kraken. Binance and Coinbase Pro are both excellent choices for more experienced traders, but we recommend you start with Coinbase Pro then move to Binance. The platform allows its traders to place different orders, namely, limit orders, a stop-limit order, and a market order. They look a bit outdated and definitely need some retouching. Coinbase Pro vs. Binance: How They Compare Fee Structure . Trading fees are really important, especially if you aim for high trading volumes! The original platform was founded in 2012 by Brian Armstrong and Fred Ehrsam with headquarters in San Francisco, California. Their focus is on the US market, but the company currently operates in 31 countries and offers Bitcoin storage in 190 countries across the world. The platform has not been hacked or in any way endangered by a malicious outside player. It is not intended as investment or financial advice and should not be relied on as such. Recently, they changed the name once again to Coinbase Pro. Both platforms have a designated Support section on their website where clients can file request tickets and wait for an email answer by the company staff in approximately 24 to 72 hours. Check it out Binance Vs Coinbase Pro 2021. Although exchanges that started outside the US have historically struggled to penetrate the US market due to the regulations, compliance, and branding difficulties, Binance should not be underestimated. Analyze fees, cryptocurrencies offered, liquidity, security and other important factors. https://twitter.com/basil_kimathi, If you are already a crypto trader, potential trader or just a crypto follower, certainly you are more than aware of the, The exchange is a crypto-to-crypto exchange, meaning that it connects buyers with sellers for crypto trading. }, Nothing on this website constitutes, or should be relied on as, Both founders started their crypto careers at the OKCoin exchange. Coinbaseis a long-established company: founded in 2012 with a basic trading platform, it launched its exchange in 2015. Binance is a relatively young upstart by comparison, and launched in 2017. There are three types of fees paid while trading on exchange platforms; withdrawal fee, trading fee, and deposit fee. Coinbase Pro is one of the top exchanges in the market as its high liquidity and limits have endeared it to traders executing large trades. Otherwise, professional traders will benefit from all those displayed analytics. In brief, Binance is one of the most innovative cryptocurrency exchanges in the market. Binance makes up for the lack of fiat support with an outstanding number of more than 150 supported cryptocurrencies. © 2021 Crypto Head | Affiliate Disclosure | Privacy Policy, Perfect for seasoned and institutional traders, Perfect for experienced and institutional traders, Average customer support with a 24/7 live chat, The mobile app is not available for Android users. In times of such crypto-crazes, some exchanges have to suspend new registrations or hire extra staff to answer customer queries. The only drawback of the platform is that it doesn’t support credit card deposits but it does accept debit cards instead. Binance.US and Coinbase Pro both offer significant fee discounts to market markets in order to attract this activity. Typically, exchanges offer low fees to high-volume investors as well. If you’re unsure how to set up your account, the FAQ covers that too! Coinbase most likely specializes in retail customers who want to buy Bitcoin for fiat currencies, and GDAX is a more advanced cryptocurrency trading platform. Binance and Coinbase are two of the most popular cryptocurrency exchanges, but they’re actually VERY different from each other.After reading this Binance vs Coinbase comparison, you’ll have a good idea of their differences and be able to choose the one that’s best for you. Basic is more advanced for beginners. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided. It also has its own cryptocurrency called, Trading cryptocurrencies as a beginner can be scary—that’s the main reason why, However, on May 7, 2019, the exchange was. Prior to launching his own crypto exchange, he worked for Blockchain.info on various cryptocurrency projects and excelled as a chief technological officer at OKCoin. Binance exchange was founded in 2017 by Zhao Changpeng and Yi He. However, you don’t have to pay the trading fees as long as you understand what you are doing. Coinbase is a place for consumers to easily buy, sell, and store digital currency, while Coinbase Pro is designed to cater to sophisticated and professional traders. To be eligible for deposits in the first place, you need to go through a simple KYC (Know Your Customer) verification process before Binance accepts your request. Check this out: there are lots of Case Studies coming up on Crypto Trading, Investing and securing your digital assets. Coinbase Pro is the only one of the two platforms discussed in this guide that offers this option to its users. It was known then as GDAX, and was renamed to Coinbase Pro in 2018. Binance vs Coinbase Pro: The Comparison Bitcoin and Other Supported Cryptocurrencies. This doesn’t mean that the platform doesn’t comply with anti-money laundering regulations and precautions earning the trust of millions of investors around the world. Interestingly, for all trades, it charges only a 0.1% fee on the exchange. Unfortunately, Binance barred American users from its global exchange this summer for regulatory reasons. Transactions on the platform are instant and less costly. A regular account can be created by clicking on the Create Account button on Coinbase Pro home screen. Of course, the settings can be changed at any time. The platform has high-level security measures and has never been hacked. Coinbase saw the urgency to address their needs and enlarge the scope of their trading options to cater to the more risk-taking adventurous users. For a comparison on Coinbase vs Gemini, check out our separate review. Visit Coinbase Pro. Binance customer support service can be slow when the exchange is busy, but it’s available in four different languages (English, Japanese, Korean, and Chinese), so at least they’re trying. Moreover, Binance doesn’t charge any fee for deposits or withdrawals. Despite the extent of its security features, Binance was hacked in May 2019. Due to regulatory issues, the company was relocated to Japan. Bank account deposits made in Europe through a SEPA transfer are free of charge, while US customers have to pay 1.49% for ACH deposits. There are three types of fees paid while trading on exchange platforms; withdrawal fee, trading fee, and deposit fee. This also means that Binance offers a huge number of trading pairs. If we look at the ease of use, it’s clear that in this Coinbase vs Binance comparison, Coinbase has better & … Binance US vs Coinbase Pro In 2021 – Which Is Better. cryptocurrency or other investment. Important information for US residents is that as of September this year, Binance has been redirecting US customers to Binance.us – the American arm of the company. Many exchanges have been criticized for having poor customer service. … Another security method recently implemented by the platform is the withdrawal address whitelist. Coinbase is the go-to platform for beginner investors while Binance has quickly become the largest cryptocurrency exchange even recently surpassing Deutsche Bank in profitability. Trading digital currencies for beginners can be scary, frustrating, and expensive.