All You Need to Know About Binance and Coinbase

The world of crypto has grown significantly in recent decades, and its rise in popularity has led to the growth of services that allow you to purchase, sale and trade of best cryptocurrencies. 

All You Need to Know About Binance and Coinbase
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Binance and Coinbase are full-scale cryptocurrency exchanges designed to make cryptocurrency accessible to anyone who may wish to commence their trade and begin their investment journey in the world of cryptocurrency. 

Binance and Coinbase are the biggest cryptocurrency exchanges available to customers, each being a giant in its own right. However, they have their key features and their important differences.

1. Coinbase

Coinbase is older, and to some, it might even feel archaic, but the reality is that the Coinbase is reliable and user-friendly. It was established in 2012 and is based out of the United States. It is a regulated exchange that takes good care to guide their customers to purchase and trade cryptos, and also makes it easy for them to invest in the crypto market without much of a hassle. They have easy in-app purchasing options, and it is known to be one of the best crypto platforms available today.

Coinbase has a sleek and simple interface, making it easy for most to traverse and pick up the usage of the website and application. It allows you to purchase, sell and exchange cryptocurrencies that are reliable and have proven themselves.

There are only 44 Cryptocurrencies listed on the market, and for many, this might seem like a disadvantage of Coinbase, but the reality it is a plus for the investors. It is important to recognize that the platform is not designed for active trading, but rather exists as an opportunity for individuals to invest in cryptocurrency on a long-term basis. So, you can add different types of cryptos to your portfolio through Coinbase and you do not need to deal with different crypto accounts for the same. 

This long-term investment focus of crypto is also reflected in the pricing of Coinbase which charges 0.50 per trade and has a higher charge for bank account transfers and credit card purchases. Further specific information.

You can enable 2-factor authentication and keep your Coinbase account safe.  It also has the opportunity to provide KYC options for its customers and has anti-money laundering functions included to make sure the platform is safeguarded from external malicious influences.

2. Binance

Binance is one of the biggest cryptocurrency exchanges available to us today. It was founded in 2017 and has grown to be one of the largest and most impactful spaces for crypto to be engaged with. It trades the largest volumes of crypto globally and offers its users a wide choice of coins to invest in. It has a global reach with over 120 countries being a part of its system, and a separate unique entity dedicated to the trade of crypto in India.

The Binance trading interface mimics the features of more traditional stock trading platforms providing several graphs and metrics to its users so they can make the best trades possible with the tools that have been provided to them. Binance fees are charged at a very low rate, with a maximum of 0.10% purchase and trading fees and you can also avail some discounts on such fees. The environment created is very conducive to the process of trading regularly, on a day-to-day basis. While charges for credit card purchases are a little higher, they are still incomparable to the competing services.

While Binance does provide all the conventional options for trading such as buying and selling, it also has more forms of trading such as Futures trading which is an advanced trading option for investors. But, Biance is available only for the US residents and people around the world cannot use their fiat currency to buy cryptos from Biance. 

Before you choose a trading platform, you need to compare several things, and you much check the types of transactions available on such platforms. In this case, Biance is better than Coinbase because here you can buy, sell and withdraw your coins and tokens. Along with that, you can also find some options on Biance like Stop order and Limit order, which can be used to trade cryptos.