What do you choose? – Forbes support

Editorial Review: We receive a commission from affiliate links on Forbes Advisor. The Commissioners are not concerned with the opinions or evaluations of our editor.

When it comes to buying cryptocurrency, Binance.US, and Coinbase are two of the biggest names out there for US users. But having two tokens does not mean that you should use one for your cryptocurrency.

Here’s everything you need to know about Binance.US and Coinbase and how to decide which crypto exchange is best for you.

Binance.US vs. Coinbase: High similarities

Before going too far in breaking down Binance.US vs. Coinbase, there are a few important things to keep in mind.

Binance Not available for customers in the U.S. However, U.S. citizens must use Binance.US, its spin-off platform that is in line with U.S. currency regulators. While the two crypto exchanges are similar, Binance.US has less performance and financial offerings.

Coinbase is not as simple as it seems.

The name “Coinbase” is often used as a catch-all for all of Coinbase’s (the company’s) offerings: Coinbase (the platform), a crypto startup program, and Coinbase Pro, a complete crypto exchange. This difference is important because Coinbase Pro offers more transactions and lower fees, even if the intuitiveness is a little lower. Coinbase Pro does not allow the purchase of credit or debit cards.

With that out of the way, here’s what Binance.US and Coinbase have in common.

Money can be traded

If you’re looking to interact with major cryptos — think Bitcoin and Ethereum — you’ll be comfortable with Binance.US or Coinbase.

Since both exchanges offer as little as 100 crypto currencies, you’ll probably find a lot of the smallest ones, called altcoins, that you’ll want, whether it’s Dogecoin or another memeable crypto. .

If you it’s true you want to leave the beaten path about coins, you may need to choose an exchange like Kucoin, which has hundreds of cryptos.

However, investing in all types of cryptocurrencies is problematic. However, new and less popular currencies can see the price fluctuate, be smaller, more difficult to buy or sell quickly, and more likely to be deceived.

Commercial agents

From a trading perspective, Coinbase Pro and Binance.US are very similar platforms: both can have a variety of order types, including market and limit, and both also include controls. high resolution image.

The crypto exchange currently does not allow users to access margin accounts, a much more efficient marketing strategy that involves lending money to customers. Margin can increase revenue – and significantly increase losses.

Margin trading is not currently available at all crypto exchanges in the US

Binding

Coinbase and Binance offer users to earn interest by securing their crypto to help authenticate transactions on their currencies ’blockchain. The interest rate is different by crypto.

Koi KYC

To access the full range of resources available on Binance.US and Coinbase, you will need to verify your identity through the Know Your Customer (KYC) process. This is a way of giving government -issued certifications that you are what you say you are, just as you would need to open an archive.

Doing so will help reduce the risk of using crypto exchanges for non -fraudulent financial purposes. A segment of crypto investors do not want KYC requirements because they feel it is against the decentralized ethos of crypto exchange and crypto.

Binance vs. Coinbase: High Variations

Of course, in general Binance.US and Coinbase Pro are different platforms, they are not the same, and some of their important differences are that one makes it more convenient for you than the other.

Land acquisition

Where you live in the US can determine which crypto exchange you use. Binance.US is not available in Hawaii, New York, Texas and Vermont; Coinbase cannot be used in Hawaiʻi. Residents of Aloha State may be limited to Gemini -like standards.

Uku

Fees can make or break a conversion for traditional traders, while beginners benefit from more money going into crypto than crypto exchange costs. Binance.US eliminates almost all exchanges but KuCoin is about fees (which is similar), with its ultralow rating of 0.1%.

Coinbase uses a convoluted payment (and pricing) system that can eat up a large percentage of initial crypto transactions. That’s why it’s better to move to his trading platform when you’re comfortable with it. Coinbase offers prices of 0.6% or 0.4% (for price ranges of $ 0 to $ 10,000), depending on the carrier or manufacturer.

The last one creates a new order to be filled in the exchange (i.e. the property), and the first one to fill in an existing order (take water). While it’s important to keep in mind the fees for manufacturers and suppliers, the difference isn’t that important because you can’t choose as a producer or carrier.

Easy to use

Binance.US strives to serve customers by providing a variety of user information.

Coinbase, on the other hand, is best known for its dashboard used to make it easy to trade money — even without knowing it. Setting up an account is quick, and Coinbase makes it easy for merchants to comply with KYC rules.

Once signed up, the platform allows users to access their accounts through Plaid Technologies, and the search engine allows users to find and buy more than 150 different cryptos. Users can schedule new purchases to ease their budget.

Uku Uuku

The last area where Binance.US and Coinbase have significant differences is their level of crypto payments. Between the two, Coinbase is the only place where we can have the ability to earn payments.

In this case, through the study of Coinbase, it pays small fees for watching videos and learning about cryptocurrency.

Coinbase also charges interest of up to 5.75% per annum (APY) on crypto related users. Binance.US, on the other hand, pays more per annum. For example, Binance.US users can earn 4.5% APY on their Solana (SOL) tokens and up to 6.4% on their Binance Coin (BNB).

Who should choose Binance.US?

Binance.US is ideal for crypto traders who are more unafraid of the critical features of the platform.

That said, Binance.US provides information relevant to different types of businesses. More savvy investors can access the OTC Trading Portal, which offers a quick pricing option.

Binance.US Pros

  • Costs are low compared to major competitors.
  • Supports over 100 cryptocurrencies.
  • Provides a range of controls tailored to different crypto skills and comfort levels.

Binance.US Cons

  • Not four states in the U.S., including New York.
  • Binance’s parent company posted a major hack in 2019.

Who should choose Coinbase?

Coinbase is considered one of the best starting sites for buying and selling cryptocurrency.

Coinbase offers small cryptocurrencies and an intuitive trading dashboard, and users can easily use the integrated wallet to keep their crypto safe on the platform.

Coinbase Pros

  • Users can trade over 150 cryptocurrencies.
  • Users can buy and sell for as little as $ 2.
  • The beginner user dashboard.
  • Good user reviews and safety scores.

Coinbase Cons

  • The salary plan is structured, classy and hard to understand.
  • Regular price planning is available through Coinbase Pro upon registration.

Leave a Comment

%d bloggers like this: