Binance ou coinbase: Qual é melhor escolha para você em 2023?


The two brightest names on the exchange market today are Binance and Coinbase. Both have been proving their strength in the US market by serving the needs of the world's largest virtual currency market. Most people who know cryptocurrencies have more than once faced the choice of joining Coinbase or Binance, which is superior to the other. The following article will compare these two virtual currency exchanges through criteria like features, fees, trading platforms, security, etc. to give the most accurate answer as to whether a forest can exist.

Should you choose Binance or Coinbase?
Should you choose Binance or Coinbase?

Binance vs. Binance USA

Exchange Binance was founded in 2017 by former OKCoin CTO Changpeng Zhao (CZ), who raised US$ 15 million to fund the company through an ICO project. The token being sold is Binance Coin (BNB) with the original purpose of cashing transaction fees for customers with tokens in the exchange’s wallet. In a short space of time, Binance eliminated several exchanges by market share from Bittrex, Poloniex and similar platforms focused on altcoins. Exchange Binance has built a reputation in altcoins.

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In September 2022, Binance officially launched Binance US, a version of the exchange exclusively for US customers. The reason Binance had to launch the American version of Binance in the US is because it is challenging to operate a compatible cryptocurrency exchange in the US. As such, Binance US is a scaled-down version of the 'original' Binance exchange, with stricter Client Identity Verification (KYC) and Anti-Money Laundering (AML) requirements, and fewer trading pairs, as well as no trading. of margin.

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Coinbase and Coinbase Pro

Coinbase exchange is known as the oldest exchange in the industry with over 30 million customers. The foundation was founded in 2012 by Brian Armstrong and Fred Ehrsam and is headquartered in San Francisco, USA. Coinbase has raised around US$ 550 million since its inception from several prominent investors. Coinbase exchange is also the first cryptocurrency institution to become a 'unicorn' – the company is valued at over 1 billion dollars.

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Coinbase offers instant buying and selling on the main website, while trading takes place under the Coinbase Pro brand (formerly known as GDAX), which offers a wider range of coins. Since the company was founded, compliance with regulations has always been a priority. As a result, this exchange's KYC and AML policies are among the strictest in the industry.

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Specific Comparison of Binance Exchange and Coinbase Exchange

Compare the criteria of these two exchangesCompare the criteria of these two exchanges

Compare the criteria of these two exchanges

user interface

Coinbase is designed for those who are new to the cryptocurrency trading process as it has a pretty easy and user-friendly interface. However, in practice, options and margin trading are not supported, you can only buy and sell digital assets.

In contrast, Binance is for professionals who already have cryptocurrency trading experience. Some users find that the amount of information available on the dashboard confuses newcomers. Binance overcomes this deficiency by creating “Advanced View” and “Basic View”.

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Transaction limit

Both platforms require personal data and identification documents (with photo) before you can be verified on the platform. At Coinbase, three main factors determine your transfer limit:

  1. Transaction tracking records
  2. How long has your account been in existence?
  3. Your verification level

With a US verified account, you can make US $ 5,000 worth of trades in a week. You also get a limit of $ 50 on your card. Please note that the maximum amount you can deposit is much lower. If you choose to deposit with a bank account, you may have to wait around four or five days. On the other hand, if you use your card, it will take effect immediately.

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Unlike Coinbase, Binance offers more flexible limits. Your withdrawal limit depends on whether you are verified or not. If you have verified, you have a daily limit of 50 BTC. If not verified, you will only be able to transact with two BTC.

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Number of currencies supported

Currently, Binance exchange supports over 466 currency pairs, this is a huge number that no other virtual currency exchange can surpass. In addition to popular virtual currencies, most of the altcoins you want to trade first can be found on this virtual currency exchange.

On Coinbase, traders can only buy/sell and exchange 17 cryptocurrencies, including BTC, ETH, LTC, XRP, BCH, USDC, EOS, LTC… the highest transaction volume.

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Trading fees on Binance exchange and Coinbase exchange

Binance exchange rates are applied in tiers depending on the user's trading volume for the following 30-day period. For accounts that traded less than US$ 50,000 in the previous 30-day period, Binance charges 0.1% for spot trades (both creator and recipient), 0.5% fee for instant buy/sell, and 25% discount if paying in BNB .

Coinbase Pro applies a staggered fee schedule that depends on the user's trading volume for the following 30-day period. For accounts that traded less than US$ 10,000 in the previous 30-day period, Coinbase Pro charges 0.5% from both the recipient and the creator.

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security features

From a security perspective, Coinbase is doing a great job of providing users with offline backup storage and management solutions. Coinbase exchange invested a lot of money to develop and maintain a secure system. Also, in the US, Coinbase is supported with FDIC insurance up to US$ 250,000 to protect user assets from risk (only available to those in the US). Coinbase is currently licensed to operate in 38 US states and has remittance licenses in most required states. Furthermore, the Coinbase exchange is also supported with regular audits of general financial operations, reserve management activities and comprehensive background checks for all administrative personnel.

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The security feature of Binance exchange is now also highly appreciated after the update and improvement activities. Most of the most basic security measures like two-factor authentication (2FA), SMS authentication are enforced by the exchange. In particular, Binance has just implemented enhanced security by introducing the Universal 2nd Factor (U2F) authentication method, which is an updated version of 2FA to limit unauthorized access to user accounts. However, compared to Coinbase’s reputation and security, Binance is still in a weaker position.

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In the end, should you choose Binance or Coinbase?

To choose which exchange to join, most traders will have to rely on their trading needs or investment purposes. For example, for traders looking to buy and sell different cryptocurrencies at reasonable fees, Binance might be a more attractive option. However, Coinbase’s reputation and regulatory compliance make it a much better choice for institutional traders and those who are risk averse. With these distinct advantages, many investors now choose to open accounts on both exchanges to experience the best features of each.

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Epilogue

Above is a comparison of some basic factors between the two exchanges Binance and Coinbase. So far, it may not be possible to choose which exchange the #1 position belongs to, but the advantages of these two virtual currency exchanges in general are very good for users' trading needs. You can make the best choice based on your trading needs or use the way suggested above by opening an account on both platforms.

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