Coinbase vs. Binance
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Coinbase and Binance are exceptional crypto exchanges in their own rights. Deciding which one to use can be tricky, so we've compared them head-to-head to help you decide the best match for your needs.
Quick Verdict: Coinbase vs Binance
Coinbase is a good crypto exchange for beginners looking for the easiest way to access the crypto market due to its simplistic interface and intuitive trading process. However, Binance is the better exchange because it offers lower fees, more trading pairs, a wider selection of markets, and many more advanced features that will appeal to professional traders.
| Binance | Coinbase | |
|---|---|---|
| Website | ||
| Promotion | Up to $100 welcome bonus | $5 BTC bonus (USA only) |
| Fiat Currency | USD, EUR, GBP, AUD, CAD, +22 Others | USD, GBP, EUR, CAD, SGD, NZD & AUD |
| Supported Cryptocurrency | 385 | 241 |
| Deposit Method | Bank transfer, SEPA, Bank card (VISA) & SWIFT | Bank transfer, SEPA, wire transfer, debit card, Faster Payments, 3D Secure Card & PayPal |
| Max. Trading Fee | 0.1% | 0.5% |
| Recurring Orders | Yes | Yes |
| Mobile App | Yes | Yes |
| Overall Rating | HedgewithCrypto Score  4.8/5    | HedgewithCrypto Score 4.7/5 |
| Review | Read our full Binance review | Read our full Coinbase review |
Binance Overview
At A Glance
Binance is a globally accessible crypto exchange offering a wide selection of trading pairs and many features tailored to experienced traders and those new to the crypto world. Being an all-in-one exchange, Binance offers a mixture of automation and trading tools designed to streamline your workflow. Binance is undeniably a top cryptocurrency exchange in the US and internationally with its low fees and diverse features.
Moreover, new Binance users can earn a $100 welcome bonus using a referral code.
Binance offers low trading fees, a wide selection of features, and many powerful tools that will help traders looking to maximize their earnings by precisely dialing in their buy and sell orders. However, while Binance is ideal for people with experience looking for advanced trading features, people new to crypto trading or investing may find Binance difficult to use due to its busy and confusing interface.
Promotion:- Significantly lower trading fees than Coinbase
- Wider selection of trading pairs and markets
- Advanced charting and trading capabilities
- Many advanced trading tools, like staking and crypto loans
- Difficult to use for first-time investors and traders
- Certain features restricted in particular regions
- US-based investors must use Binance.US, which has fewer features and cryptos
Coinbase Overview
At A Glance
Coinbase is one of the oldest cryptocurrency exchanges operating today. The innovative company was also the first exchange publicly listed on the Nasdaq, with Coinbase trading under the ticker COIN, which provides greater safety for users as it ensures that Coinbase is subject to regular audits and stricter Commodity Futures Trading Commission (CFTC) regulations.
While Coinbase has some advanced features like an earn program, reoccurring buy support, and its own NFT marketplace, the platform is primarily targeted at people new to the crypto space who value a beginner-friendly platform with a straightforward interface and an intuitive ordering process over low fees, automation tools, and more trading pairs.
Read our full review on Coinbase
Promotion:- Simple interface and intuitive buys/sells
- A publicly traded company listed on the Nasdaq
- Reputable exchange with a track record of delivering excellent security
- Well-designed mobile app for on-the-go traders
- Confusing and difficult-to-understand fee structure
- High trading fees of 60bps (taker) and 40bps (maker)
- Fewer features for advanced users than Binance
Coinbase vs. Binance: Features
There are several differences between Coinbase and Binance that will determine which exchange is better for the individual, the primary of which are the features each platform offers.
Binance is billed as an all-in-one cryptocurrency exchange offering a much broader selection of features and an excellent alternative to Coinbase. While Binance can be difficult for new users to get to grips with due to its increased utility, the platform appeals to a wider audience than Coinbase through its plethora of tools, which include crypto margin trading, 125x leverage on futures contracts, crypto options, and a wider selection of digital assets.
Binance Earn Overview.Outside of the typical crypto exchange features, Binance offers a P2P marketplace that helps international customers buy crypto with their local currency. Furthermore, Binance provides crypto loans for temporarily cashing out a portion of your assets, staking/yield farming support, plus an automatic investment tool and trading bots, which can help experienced users lessen their work.
Coinbase caters to beginners through its simplistic interface and easy purchasing process while attracting experienced crypto traders with its advanced trading platform and staking support. Users can also apply for a Coinbase card to spend crypto in retail establishments, but the card is currently only available in select regions.
Aside from the ability to buy crypto on the fiat exchange, Coinbase includes an educational program that rewards users with crypto for learning about cryptocurrency and completing a brief quiz, which is perfect for people learning about the asset class. Additionally, Coinbase offers a propriety NFT marketplace and the ability to set up reoccurring purchases, streamlining the Dollar-Cost-Averaging (DCA) process.
Coinbase Earn Overview.
Winner: Binance.
While both exchanges offer some good features, Binance takes the cake, providing users with far more tools to improve the trading and investing experience. While Coinbase caters to beginners through its more no-frills, simplistic approach, Binance offers features for people of all experience levels, making it the superior and more well-rounded choice.
Binance vs. Coinbase: Deposit Methods
Access to several payment methods is critical for people wishing to trade crypto on an exchange. Binance supports crypto deposits on every asset it lists and bank account transfer deposits on 27 fiat currencies. Furthermore, you can buy crypto with many more fiat currencies using Binance's one-click buy tool or its built-in Peer-to-Peer (P2P) exchange.
Depositing fiat currency to Binance.Coinbase offers better direct fiat-currency support with the exchange, letting users buy crypto in their local fiat currencies using credit/debit cards or bank transfers. However, only some currencies have a Coinbase wallet, meaning you could face currency conversion fees when depositing funds in Coinbase. Only BTC and USDC can be deposited, limiting Coinbase's viability for existing crypto holders.
Winner: Binance.
Although Coinbase lets users deposit more fiat currencies directly, the exchange doesn't support certain fiat currencies. Additionally, Coinbase only supports deposits using two crypto assets, whereas Binance supports hundreds, making it the far better choice for crypto investors. Furthermore, Binance offers a P2P marketplace ideal for international customers as it supports local currencies and payment methods.
Binance vs. Coinbase: Supported Coins
Binance is best known amongst altcoin traders for its large selection of cryptocurrency assets. At the time of writing, Binance supports 385 cryptos across several markets and is one of the best altcoin platforms. However, the list of assets for US residents on the Binance.US platform is significantly reduced and limited to 158 cryptocurrencies, far higher than its previous roster of around 50 cryptocurrencies.
In contrast, Coinbase offers 248 crypto projects across its exchange that customers can buy, trade, and sell worldwide, including the United States. Therefore, Coinbase is a better option for individuals who reside in the United States compared to Binance.US in terms of tradable assets.
Winner: Binance.
Binance offers over 50% more cryptocurrencies compared to Coinbase, making it the better option for international traders looking to buy and sell altcoins in addition to Bitcoin. However, for customers residing in the United States, Coinbase offers significantly more assets. That said, Binance.US is rapidly extending its list of supported cryptos, so we could see it overtake Coinbase in the near future.
Coinbase vs. Binance: Fees
Regarding fees, Binance uses a flat fee structure with buys and sells costing 0.1% per transaction, which is far easier for the average customer to understand. However, buying crypto with a credit or debit and withdrawing funds will still incur additional charges with Binance. That said, Binance offers a 25% discount for paying fees using its native BNB token, effectively reducing fees to 0.075% per trade.
| Trading Volume (30 day) | Binance Fees (without BNB) | Coinbase Fees |
|---|---|---|
| $0 - 10K | 0.1% / 0.1% | 0.5% / 0.5% |
| $10K - 50K | 0.1% / 0.1% | 0.35% / 0.35% |
| $50K - 100K | 0.1% / 0.1% | 0.25% / 0.15% |
| $100K - 1M | 0.1% / 0.1% | 0.20% / 0.1% |
| $1M - 10M | 0.08% / 0.1% | 0.18% / 0.8% |
On the other hand, Coinbase uses a slightly more confusing structure that could be off-putting for new users. The company charges a 60bps fee for taker orders on the exchange, while maker orders cost 40bps. Furthermore, additional fees for credit/debit card purchases and wire transfers can be levied on eligible transactions, making Coinbase a costly exchange for traders.
Winner: Binance.
Binance is substantially cheaper for traders compared to Coinbase. The exchange's 0.1% trading fees are in line with the industry average, and the extra 25% discount ties Binance with Crypto.com as the cheapest trading platform. Although both exchanges offer volume-based discounts, they will be out of reach for most as reasonable discounts begin at over $1 million in monthly volume.
Coinbase vs. Binance: Ease of Use
Binance is an all-in-one cryptocurrency trading platform with a wide selection of features tailored to investors and traders of different preferences. Because the exchange supports far more features than Coinbase, it's more challenging to navigate than Coinbase. Moreover, as there are more features on Binance, users need to know what they're looking for, as they may struggle when just browsing.
Screenshot of Binance's trading terminal.New crypto investors may prefer Coinbase thanks to its user-friendly interface that vastly streamlines the process of buying, selling, and trading cryptocurrency. Furthermore, because Coinbase has separate platforms for basic and advanced trading activities, the platform is far more accessible and easy for the average person to use.
Screenshot of Coinbase's Advanced trading terminal.Outside the interface, both exchanges offer their own charting system and one provided by TradingView, meaning that users will have access to plenty of drawing tools and technical indicators to plot complex strategies. However, Binance offers more order types, making it easier to enter and exit positions precisely.
Winner: Coinbase.
Although Binance can be navigated fairly easily, the exchange's far more expansive range of features and submenus make it harder for users to find what they want. However, the advanced trading platform can be difficult to find on Coinbase as it's changed location a few times.
Binance vs. Coinbase: Mobile App
Binance also offers a well-designed mobile app rated the same as Coinbase on the App Store (both exchanges rated 4.7/5). Binance's mobile app also covers all features present on the desktop platform, including advanced trading capabilities.
Binance app screenshots.Conversely, Coinbase offers a mobile app for Android and iOS devices, enabling customers to monitor their positions and trade while on the move without access to a desktop PC or laptop. Coinbase has vastly improved its mobile app, now offering every feature available on the desktop platform, including advanced trading, which used to require a separate app called Coinbase Pro to be downloaded.
Coinbase app screenshots.However, while both apps are closely paired, the Binance platform has included a greater quantity of features, including futures trading, options trading, automated trading bots, and easy crypto swaps. Therefore, Binance's mobile app is more versatile and will appeal to more users, giving it a sizable edge compared to Coinbase.
Winner: Binance.
Both exchanges offer a well-designed mobile app that will appeal to novices and seasoned traders/investors alike. However, Binance has bundled more features into its app, making it the better all-around option. That said, Coinbase's mobile ecosystem has been vastly improved by condensing itself into a single app, and we could see Coinbase catch up to Binance in the future.
Coinbase vs. Binance: Security
Binance and Coinbase are both industry-leading platforms with advanced security measures and protocols to ensure the safety of customer funds and information.
Coinbase stores 98% of customer funds in offline crypto hardware wallets to ensure its users' protection, with only funds used for day-to-day operations stored in hot wallets. Moreover, Coinbase offers AES-256 encryption, Two-Factor Authentication (2FA), and a Federal Deposit Insurance Corporation (FDIC) insurance policy against theft and exchange hacks up to $250,000 per person. However, Coinbase was hacked in between March and May 2021.
Similarly, Binance offers cutting-edge features to protect customers, including cold storage for client funds, IP address allowlisting, and device management tools. Furthermore, Binance has its Secure Asset Fund for Users (SAFU) that stores 10% of all trading fees in a secure fund to protect users against losses in case Binance gets breached by an attacker. Despite its best efforts, Binance was hacked in 2017.
Winner: Draw.
Binance and Coinbase strive to protect their customers by employing strict security measures. Both exchanges have created a system to make whole users if a bad actor steals their funds. Still, Binance's SAFU fund is available internationally, while Coinbase's FIDC insurance only covers US-based investors. With both platforms being previously compromised, they're on equal footing regarding security.
Binance vs. Coinbase: Customer Support
Regarding customer support, Binance offers a detailed help center containing many articles on topics like verifying your account and understanding certain features. Furthermore, Binance offers its customers an automated chatbot and 24/7 live chat support.
On the other hand, Coinbase offers a help center containing articles on similar topics to Binance and a system that provides users with rewards for learning about cryptocurrency, which could incentivize people to improve their knowledge. Coinbase also offers an AI chatbot and live chat support for its users.
Winner: Draw.
Binance and Coinbase both offer similar support systems that ensure customers will always be able to receive prompt assistance. Both exchanges have provided an in-depth help center for commonly asked questions and live chat for those requiring more tailored support.
Frequently Asked Questions
Coinbase and Binance use comparable security measures to protect users’ coins. They use cold storage for most of their coins and use two-factor authentication (2FA) to keep users’ funds safe. They also have insurance policies and funds to compensate victims in case of hacks.
Binance is one of the cheapest crypto exchanges with a maximum trading fee of 0.1% that you can lower with increased trading volumes. There are also zero trading fees on several Bitcoin pairs. In contrast, the fees on Coinbase are more expensive and start at 40bps (maker) and 60bps (taker) per order. One of the many reasons investors choose to transfer crypto from Coinbase to Binance is to trade with lower fees.
Conclusion: Which Is Better?
Both Coinbase and Binance are professional trading platforms for buying and selling cryptocurrencies. Finding the right exchange depends on your individual objectives, requirements, and experience level.
Coinbase is an ideal platform for beginners who want to buy and sell crypto using an easy-to-use mobile app to monitor their portfolio 24/7. Coinbase does charge significantly higher fees and offers fewer assets for international customers, but it is one of the best Binance alternatives for customers in the United States due to its regulatory compliance in the country.
Related: Which countries can you use Binance?
On the other hand, Binance is an all-in-one platform that allows individuals to do more with their crypto beyond buying, trading, and selling. The exchange offers trading bots, staking, and yield farming, ideal for people wishing to boost their portfolio passively. With lower fees, more features, and a wider selection of assets, Binance is the better overall exchange for traders and investors of all experience levels.
| Platform Category | Winner |
|---|---|
| Features | Binance |
| Deposit Methods | Binance |
| Supported Coin | Binance |
| Trading Fees | Binance |
| Ease of Use | Coinbase |
| Mobile App | Binance |
| Security Features | Draw |
| Customer Support | Draw |
| Overall Winner | Binance |
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