CoinMarketCap ranking, with respect to trade volume, grades Binance #1 and Coinbase #2 as they both come toe to toe and have same level of exposure, potential and growth. Coinbase Exchange has average weekly visits of over 2,915,000.
Binance is widely accepted round the world and there take place around $2billion volume of trades daily. Binance is also famous for its lower fees and the Binance Smart Chain Blockchain technology. Binance focuses on experienced traders and the interface it has is not meant for the beginners. Coinbase exchange is the most established cryptocurrency exchange in the United States. Coinbase is user-friendly with a simple interface and a completely different approach.
| Binance | Coinbase | |
| Ease of Access | Easy to Moderate user interface, | Available for U.S based investors, Regulated in many countries, |
| Interface | Multiple trading Indicators, Customizable Interface, Moderate level difficulty | Simple to use, Easy to buy sell and exchange |
| Fees | Lowest fees, Free for ACH(USDT) | Higher Fees |
| Security | 2FA verification, FDIC-insured USD balances, device management, address whitelisting, cold storage, SAFU, | 2FA verification, cold storage, Multiple Signature Wallet, Funds Insurance. |
| Coin Pair for US based Traders | 120 (Binance US) | 312 |
| Coins Pairs Supported | 1430 overall | 312 |
| Orders Type | Limit order, Market order, stop-limit order, Stop market order, Trailing stop order, Post only order,Limit TP/SL order | Limit, Stop Limit, Market |
| Ecosystem | Binance Exchange, Binance Coin, Binance Chain, Trust Wallet, Research, Launchpad, Binance Lab, Binance Info, Binance Charity, Binance Academy | Coinbase, Coinbase Pro, Coinbase Wallet, Coinbase Academy |
| Instruments | Spot, futures, perpetual swaps, options | Spot, Future, Swaps |
| Demo Account | None | None |
| Payment Methods | Bitcoin Payments, Credit Card, Google Pay, Mastercard, PayPal, Visa, Wire Transfer | Payment Method, Bank Account, Coinbase USD Wallet, Debit/Credit Card, ACH Transfer, Wire Transfer, Crypto Conversion |
Binance vs Coinbase: Supported Currencies
Coinbase and Binance have maximum users from the cryptocurrency world. Coinbase functions in 100+ countries however the number for Binance the number is 180+ however it is banned in many countries by the regulatory authorities.
Coinbase supports 52 coins and 312 pairs collectively on both platforms. Binance has total of 1400+ crypto pairs however, Binance US only supports 51 in USA.
Binance vs Coinbase: Ease of Access
Binance has a huge ecosystem and brings all the cryptocurrency and blockchain trades and options to a single place. Binance supports everything from staking to savings and from NFTs to DeFi. The interface of Binance has 3 different versions for beginners, for intermediate traders, and the experts. But none of these versions is as simple as Coinbase.
Coinbase come with limited options of Buy, Sell, and Exchange options supported with an intuitive interface to trade cryptocurrency however Coinbase Pro has the same level of complexity as that of Binance. Coinbase is regulated in US and many other countries with clean records however Binance is banned in many countries including Binance US which has very limited options.
Binance vs Coinbase: Fees
Coinbase is great however not in the case of charging trading fees where it charges 0.5% compared to 0.01% of Binance. The trading fees of Coin base are given in the table below:
USDC is the stable coin of Coinbase like the BUSD in Binance. Coinbase also offers Coinbase Card to buy cryptocurrencies. If you purchase USDC with Coinbase Card, the transaction is excluded from all the fees and you pay 0%.
| Payment Method | Coinbase Fee |
| Bank Account | 1.49% |
| Coinbase USD Wallet | 1.49% |
| Debit/Credit Card | 3.99% |
| ACH Transfer | Free |
| Wire Transfer | $10 ($25 outgoing) |
| Crypto Conversion | 2.00% |
The competition in sense of fees, is hard to find against Binance. Binance US has higher fees compared to Binance but even those fees are far less than those of Coinbase. Binance derivates show that Binance offers 0.02% maker fees and 0.04% taker fees. The deposit fees are shown in the table below. Binance offers the lowest fees compared to its competitors.
| TRANSACTION | BINANCE FEE |
| Buy/Sell with Bank Account | 0.10% |
| Buy/Sell with Wallet | 0.10% |
| Buy/Sell with Credit/Debit Card | 1.10%–2.10% |
| Instant Card Withdrawal | N/A |
| Wire Transfer (USD) | Free |
| Exchange Crypto | 0.10% |
| ACH (USD) | Free |
The withdrawal fees are dynamic and charged according to the market conditions. Binance has different trading levels where traders are divided based on trading volume allowed in 30 days to trade. Each level has different takers and makers fees. “Taker” is an order that trades at a market price, “Maker” is an order that trades at a limited price.
Binance vs Coinbase: Security:
Coinbase takes security very seriously and has taken Extensive Security Measures to secure the funds of its customers. Coinbase stores 98% of users’ funds in separate offline storages. The data is later divided into two encryptions including AES-256, and then it’s copied to FIPS 140 data storages and other backup devices including papers.
Binance provides high-end Two Factor Authentication (2 FA) security to its traders. Passwords alone cannot protect better the account so 2FA is a crucial step to enhance security. The 2FA is offered in two options: you can either use SMS service to generate OTP for login or Google Authenticator. Binance took a serious note of it and brought many security changes to the exchange, and proposed users insurance called SAFU. Binance uses cold storage to keep maximum assets all-time offline which makes its hacking near to impossible.
Final Verdict:
Binance has full marks when it comes to fees and trading options. You pay a maximum of 0.1% fee while trading on Binance normally. There are 1400+ crypto pairs available on the Exchange with many trading tools to place order and tons of trade options to go for. So, if you’re an experience trader Binance should be the pick for you. Coinbase is a decent exchange indeed as it’s super user friendly and allows US investor and 100+ other countries to trade with trust. If you’re a newbie to crypto world, Coinbase should be the exchange for you to buy your first crypto coin. While Binance is falling to sanctions all around the world, Coinbase can be good alternative to trade for all kind of traders.