If you are a beginner in the crypto world, you must be trying to understand various coins along with the diverse range of crypto exchanges available for trading. Even if you are a newbie, then also you have heard of binance and Coinbase. Both of them are leading and popular crypto exchanges in the present times, facilitating from non experienced to veterans with a variety of options to trade. But which one to choose between them? There is always a conflict in the minds of crypto enthusiasts related to Binance Vs Coinbase. So, to offer more clarity in your choice, let us compare both the exchanges and also the way to switch from one exchange (in case you wanted to change from your present one!) to another.
Coinbase was founded by Brian Armstrong and Fred Ehrsam in 2012. It is a crypto broker or broker exchange, which purchases cryptocurrency for its users, unlike crypto exchanges which brings sellers and buyers together. In 2017, it became the first exchange to be recognised as a financial unicorn, i.e. valuation of the company reaches more than 1 Billion US Dollars. While maintaining a good reputation in crypto space, Coinbase works in line with regulations and strict KYC/AML policies.
On the other hand, Binance was founded by Changpeng Zhao and Yi He in 2017. It is a crypto-to-crypto exchange, which brings sellers and buyers together on their platform. Binance raised almost $15 million for its Initial Coin Offering (ICO). Though it is relatively new in the crypto market, widespread among most of the traders as it offers a wide range of cryptocurrencies with less strict KYC norms.
Both of the exchanges have established their position in the crypto markets. It is obvious to have a crypto fight of Binance Vs Coinbase amongst crypto traders. Let us compare them:
Coinbase offers the facility to trade in fiat currencies from any of the 32 countries it allows their services. It provides trade only in four cryptocurrencies, BTC, BCH, ETH and LTC (12 trading pairs). Fiat trading is a plus point for exchange as the trader need not visit any other exchange for buying the coins initially.
On the contrary, Binance offers crypto to crypto trading, so you need to buy coins from other exchanges first. But, it provides a wide range of coins (almost 300 pairs) to trade with along with newly released digital currencies.
Coinbase supports fiat to crypto trading, thereby fixed conversion price being charged as transaction fees. It varies between 1.49%-3.99% depending on the mode of payment and region in which trading is taking place.
On the other hand, Binance extends the crypto to crypto trading, thereby providing an exchange rate for the currencies traded. It charges 0.1% fees on all trades and offers a 50% discount when buying with native coin BNB.So, which cryptocurrency exchange has the lowest fees? Crypto-to-crypto exchanges generally charge lower than fiat to crypto exchanges.
Coinbase limits the trading based on fiat currencies and following various levels. For instance: Level 3 users can trade limitlessly, level 2 users have the limit of trading 25000 USD per day.
Binance limits the trading on the worth of BTC involved. For instance, at level 1, users can trade up to a worth of 2BTC per day, while level 2 users can trade up to a worth of 100 BTC per 24 hours.
With a well designed simplistic and user-friendly interface, Coinbase is one of the first choices among newbies. A dashboard of Coinbase contains all the necessary information related to your crypto portfolio, prices of coin and also the transaction history.
Oppositely, with basic and advanced interfaces, Binance is gaining traction among little more experienced than beginners. Undoubtedly, every necessary information is available on the dashboard related to the availability of coins, buyers and sellers prices, list of coins etc. but in a slightly complicated format.
Both the exchanges are better in their ways, and it is obvious to have the conflict: Binance vs Coinbase. If you are new to the crypto sector, you may end up making your crypto account on Coinbase, and if you have already tried your hand in the markets, then you must be thinking of switching to Binance. Want to change the exchanges? But don't know how to transfer from Binance to Coinbase or how to do Coinbase to Binance transfer? Meanwhile, you confirm your choice; we brief you on the method of exchanging.
In case you are getting trouble, or you are getting confused while using the platform of Binance, you can transfer from Binance to Coinbase. By following the few steps, you can switch to Coinbase, make sure you have to create accounts on both the exchanges before starting your transaction. Then, read the steps mentioned below.
Still sceptical about-How to withdraw from binance to coinbase? Just reread the steps and try to follow them simultaneously on your system with a small amount at first.
Now when you are little old in the crypto sector and want to diversify your crypto portfolio, you need to transfer from Coinbase to Binance. But still confused, how to transfer money from Coinbase to Binance? Just have a glass of water and start following the mentioned steps (Hopefully! We won't dishearten you!).
The same first step, set up accounts on both the exchanges and get them verified.
Thereby, you can complete the transfer process with this easy guide but just read the steps carefully.
Thus, both the exchanges are doing great in the crypto world, you need not ponder much on Binance Vs Coinbase, but need to choose your account as per your requirements and suitability.
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