The developer, Binance LTD, indicated that the app’s privacy practices may include handling of data as described below. Binance fees are some of the lowest in the industry, whereas Coinbase does not disclose its fees online. We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation.
I end up touching something I didn’t mean to touch because all the buttons are close to each other. I understand they want this to be user friendly by placing everything in the open so nothing is hidden but it just makes everything messy. It’s hard increasing and decreasing price of coins we are selling in the exchange without hitting something else and causing the screen to swipe. Same goes for the amount buttons to increase and decrease the amount of coins we are selling and buying in the exchange screen. Oh and most importantly there should be a note when selling coins that there’s a bare minimum of .1 before we go to sell our coins. I wasted time setting up a coin to sell just to find out afterwards I didn’t have enough coins to sell which wasted minutes of my time.
- Check out the latest conversion rates of popular cryptocurrencies such as Bitcoin, Ethereum, Cardano, Solana, and Dogecoin, as well as common trading pairs such as BTC/USD to get a real-time market overview.
- Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile.
- Binance and Coinbase are two cryptocurrency platforms with very different approaches.
- Binance isn’t consistently regulated around the world, but its Binance.US exchange stays within U.S. regulations.
Binance provides the Binance Academy, similar to Gemini’s Cryptopedia, where users can access tutorials or helpful articles resembling cryptocurrency trading courses. Both platforms offer a blog and knowledge base, but Coinbase also lets users earn cryptocurrency for watching videos for beginners. Since the platforms are meant for different types of people, you’ll notice vast differences in their feature sets. However, both provide mobile applications with watch lists or live price tracking. Binance security features also include address whitelisting, device management, and the ability to restrict device access.
Is Binance legal in the USA?
We accept a diverse range of currencies, making it effortless for users to purchase crypto using fiat currencies such as USD, EUR, CNY, AUD, INR, RUB, and others. Coinbase security features consist of fingerprint biometric access for its digital wallet, and 98% of cryptocurrency funds are stored in air-gapped cold storage via vaults and safe deposit boxes. Coinbase has an insurance policy to cover the 2% of funds kept in hot storage, but it only covers security breaches on their end, not ones due to a user security problem. Binance is well-known for its massive altcoin list, with more than 600 choices available to non-U.S. However, the Binance.US exchange supports just over 100 coins. Both Coinbase and Binance require users to verify their identity with a photograph.
- Unlike Coinbase, Binance was first established in China before moving to Japan, and the Binance.US platform is headquartered in Palo Alto, California.
- While Binance may be less expensive, Coinbase wins out overall.
- Ethereum is a decentralized computing platform capable of running various applications, including a vast array of decentralised finance (DeFi) apps and services.
- Binance security features also include address whitelisting, device management, and the ability to restrict device access.
Our fee and feature charts give a side-by-side view of security, transaction types, fiat currencies accepted, payment methods, and cryptocurrencies. Binance and Coinbase are two cryptocurrency platforms with very different approaches. Coinbase is a U.S.-based exchange designed for beginners with a simple interface and limited transaction types. Binance has a steep learning curve, supports advanced users, and provides international traders with hundreds of currency trading options. We put Binance and Coinbase side-by-side to review the overall price for various transaction types, accepted fiat currencies, and available altcoins for trading purposes. We also explored ease of use for web and mobile applications, security protocols, standout features, and customer service.
Crypto Exchange & Wallet
Investing in cryptocurrencies and other Initial Coin Offerings (ICOs) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. Unlike Coinbase, Binance was first established in China before moving to Japan, and the Binance.US platform is headquartered in Palo Alto, California. Binance isn’t consistently regulated around the world, but its Binance.US exchange stays within U.S. regulations. Note that Binance is currently under U.S. regulatory investigation.
In contrast, Binance offers live chat, an option to submit a ticket, or support through a Twitter help account. While Binance may be less expensive, Coinbase wins out overall. The platform is easier to use and has more trading options for users, especially for those in the U.S. Additionally, Coinbase offers more customer service options, including phone support. Binance and Coinbase are geared toward different types of users. Coinbase offers a simple platform for investors new to trading cryptocurrency who want fast, easy, and secure ways to trade.
Coinbase
Binance’s platform is easy to use, but the sheer number of choices can be overwhelming to a new user. Binance is a better fit for people familiar with cryptocurrency lingo and investing options, whereas Coinbase is built for convenient, easy trading. Binance offers a variety of payment methods for users to purchase cryptocurrencies, including bank transfers, credit and debit cards, peer to peer trade, etc. Our team works exclusively with verified and trusted partners to ensure a secure and seamless experience for users to buy crypto on our platform.
Founded in 2012, Coinbase is a U.S.-based exchange that went public on April 14, 2021, via a direct listing, and is backed by banks like J.P. Check out the latest conversion rates of popular cryptocurrencies such as Bitcoin, Ethereum, Cardano, Solana, and Dogecoin, as well as common trading pairs such as BTC/USD to get a real-time market overview. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
Data Used to Track You
We examined Coinbase and Binance by looking at the fee structures, cost, and how easy it is to understand. Although we looked mainly at Binance, we also evaluated Binance.US features applicable to U.S. residents. We considered the website and mobile app functionality, availability of knowledge bases, and access to customer service.
Binance and Coinbase both offer many cryptocurrency pairs, but the number may vary based on your location. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.
Like Coinbase, all USD balances are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC) and held in custodial bank accounts. Although the Binance platform is user-friendly and offers three levels organized according to trading experience, it isn’t nearly as easy to use as Coinbase is. Once the purchase is completed with Binance, your newly acquired crypto will be deposited directly into your Binance account, a safe and straightforward method to manage your crypto assets.
So minimums and other rules should be made visible at all times. Ethereum (ETH), the second-largest cryptocurrency by market cap, is also one of the most commonly used computing platforms. Ethereum is a decentralized computing platform capable of running various applications, including a vast array of decentralised finance (DeFi) apps and services. As of now, Ethereum is trading at $1808.41, experiencing a -0.84% change in price over the last 24 hours. Ethereum’s market cap is $217,495,444,812.051, with a circulating supply of 120,275,672. Coinbase wins for ease of use, and also has better customer service options, including live chat, phone support, and the option to submit a ticket.
From there, you can easily trade your purchased crypto on the wide variety of products and services available on the Binance Platform. Both exchanges provide mobile apps with varying functionalities. Although both platforms are considered secure, Coinbase has a better overall reputation.