Binance vs Coinbase Pro

[emd023]

Hello. I am having a hard time understanding why anyone would use Coinbase Pro for trading compared to Binance. What am I missing?

Coinbase Pro's fees are 0.5% for transactions below $10k. Binance charges 0.1%, or 0.075% if you have BNB. So if you made a $5,000 trade you would pay a $25 fee on Coinbase Pro and a $3.75 fee on Binance. What am I missing here? Why would anyone trade on Coinebase over Binance? How can they be competitive charges such high fees? Thanks.

[BitcoinGirl.Club]

Hello. I am having a hard time understanding why anyone would use Coinbase Pro for trading compared to Binance. What am I missing?

Coinbase Pro's fees are 0.5% for transactions below $10k. Binance charges 0.1%, or 0.075% if you have BNB. So if you made a $5,000 trade you would pay a $25 fee on Coinbase Pro and a $3.75 fee on Binance. What am I missing here? Why would anyone trade on Coinebase over Binance? How can they be competitive charges such high fees? Thanks.

Most people do not have much information to compare the services. Those newbies in the space hears a lot about Coinbase and their pro version so they decides to go with Coinbase I think. By the way, can you tell me from US to buy bitcoin using Bank or card which platform has reasonable fees? Coinbase or Binance? Sorry I am not from US but a friend of mine needs help to buy some Bitcoin there.

[fudster]

You can cashout from Coinbase but not with binance. That makes them useful for the ones who want their profit straight to their banks.

Binance is getting too big by the way. While I use that exchange for a very long time, I find it not easy anymore when you can't withdraw a tiny fraction of BTC without providing documents.

[ScamViruS]

Many things depend here. People using Binance because the fees here are very low and there is enough liquidity. But nobody can cashout using binance. Here you can exchange just another crypto currency. As a result, even with low fees, the original service binance cannot provide you. People can cashout using coinbase pro. So here the fees are high but the benefits are also high.

[emd023]

Many things depend here. People using Binance because the fees here are very low and there is enough liquidity. But nobody can cashout using binance. Here you can exchange just another crypto currency. As a result, even with low fees, the original service binance cannot provide you. People can cashout using coinbase pro. So here the fees are high but the benefits are also high.

Yes, but you can transfer coins from Binance to Coinbase and cashout there.

[ryzaadit]

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But you can use P2P Transaction of Binance Platform.

U can select which currency you are gonna use for cashout, so basically u trade with someone for selling and buying and binance will be a platform that provide this P2P transaction.

One of example, P2P transaction for cashout your crypto into fiat directly to our bank.

[mikeoneal]

Hello. I am having a hard time understanding why anyone would use Coinbase Pro for trading compared to Binance. What am I missing?

Coinbase Pro's fees are 0.5% for transactions below $10k. Binance charges 0.1%, or 0.075% if you have BNB. So if you made a $5,000 trade you would pay a $25 fee on Coinbase Pro and a $3.75 fee on Binance. What am I missing here? Why would anyone trade on Coinebase over Binance? How can they be competitive charges such high fees? Thanks.

The fees on binance is not true , try to exchange 100$ using debit card to buy bitcoin on binance , you will see they take more than 12% fees .

[btcholder]

Both are good quality exchange but i would prefer Binance though. There are some reason for that of course. In Binance you can find some extra good feature like Easy to use, Have more altcoin to trade, Liquidity, Low fees, Extra trading events etc. But in Coinbase Pro you won't find some of these. If you are a altcoin lover then Coinbase Pro is not for you, i will recommend Binance for that. It's true that Binance have more good features than Coinbase pro. Then why many people compare between them..? Well it's probably newbies hype nothing else.

[JeromeTash]

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You are right. This is the major reason coinbase is still in the game.
I don't know why but for some reason one of the first wallets/ exchange newbies get to know about or use is coinbase and blockchain.com wallet.

But you can use P2P Transaction of Binance Platform.

U can select which currency you are gonna use for cashout, so basically u trade with someone for selling and buying and binance will be a platform that provide this P2P transaction.

https://i.ibb.co/tsYxdzX/214.png

One of example, P2P transaction for cashout your crypto into fiat directly to our bank.

Most people are actually ignorant about this. Binance has lately brought out so many features that enable direct transactions from crypto to fiat and vice versa for most territories.

In fact, where i am from we even have a local binance crypto to fiat exchange platform with very cheap transaction fees.

[Mrengage]

Coinbase I don't think ever since I came into crypto I have made use of it for trading because it's mainly for BTC, ETH and so on not like BINANCE or BITTREX where by one can trade different kind of altcoin. Which in turn since am an African Binance has brought about fait deposit and withdrawal on the Go.

[cotton ball]

I think binance is better than coinbase pro because you have chance with multi altcoin listed on Binance exchange then you have bigger way how to get profit with binance, other time if you wanna try with future trading you available try on Binance and get much profit depend how accurate your prediction.

[samcrypto]

Many things depend here. People using Binance because the fees here are very low and there is enough liquidity. But nobody can cashout using binance. Here you can exchange just another crypto currency. As a result, even with low fees, the original service binance cannot provide you. People can cashout using coinbase pro. So here the fees are high but the benefits are also high.

Yes, but you can transfer coins from Binance to Coinbase and cashout there.

If we are just talking about cashing out here then obviously Coinbase will be the top option but for me they are both good on their differences and we don’t need to choose where we can trade on both of this exchange. I used Binance to trade with the altcoins and I’m using a different wallet for cashing out, not if you see a more convenient way to trade and cashing out then go for Coinbase, there will be no problem on that, the fees might be high but I hope you make a good profit in trading to cover it up.

[Ifemini]

Hello. I am having a hard time understanding why anyone would use Coinbase Pro for trading compared to Binance. What am I missing?

Coinbase Pro's fees are 0.5% for transactions below $10k. Binance charges 0.1%, or 0.075% if you have BNB. So if you made a $5,000 trade you would pay a $25 fee on Coinbase Pro and a $3.75 fee on Binance. What am I missing here? Why would anyone trade on Coinebase over Binance? How can they be competitive charges such high fees? Thanks.

This should not be a Debate because i see binance definitely coming on top.
Trading fees apart, binance now provide fiats deposit and withdrawals for over 10 countries, add that to the binance futures trading, margin trading and also the binance savings program (formerly lending).

No exchange comes close to binance, coinbase definitely has its benefit to users, but binance is better

[FlamingFingers]

Many things depend here. People using Binance because the fees here are very low and there is enough liquidity. But nobody can cashout using binance.

Did you just say nobody can cash out with Binance? Binance exchange supports more than 40 local currencies for direct cash out, and they are still expanding to other countries too, direct deposit and withdrawal to your bank account,  it's something that I've used not that someone else tell me, 
As for the liquidity,  Yes Binance has much than coinbase,  I guess this is another reason why Binance is well ahead of coinbase

[AakZaki]

Many things depend here. People using Binance because the fees here are very low and there is enough liquidity. But nobody can cashout using binance. Here you can exchange just another crypto currency. As a result, even with low fees, the original service binance cannot provide you. People can cashout using coinbase pro. So here the fees are high but the benefits are also high.

Do you mean that Binance cannot make payments to online stores and Coinbase can do it?
If that is your intention, isn't it from binance that we can directly send coins at low cost?
Or I misunderstood your words.
I myself do not use Coinbase because of the usage limits for my country, while Binance can accommodate use from all corners of the world, That's why I use Binance will probably be one of the Global markets that I will use.  Besides, I myself became a part of the official P2P in Binance for Fiat in my country.

[Little Mouse]

Most newbie do not have any idea about Binance. Most of them heard about about coinbase at the beginning. Moreover, fiat availability can be another factor for that. Maybe coinbase pro offer more available fiat deposit option than Binance.

[thebutton]

Most newbie do not have any idea about Binance. Most of them heard about about coinbase at the beginning. Moreover, fiat availability can be another factor for that. Maybe coinbase pro offer more available fiat deposit option than Binance.

I don't think so. I'm a newbie tho and never heard much of coinbase. Maybe because of the country I am from since we have a major local exchange which have a license with the central bank and no serious competitors that's why most of people here purchase their BTCs there. I am starting to trade now and learning in the process. I mostly heard about Binance and that's where I trade now and what I like about it the most is their mobile application which is very convenient for me along with many other features. I may check coinbase pro out of curiosity and people are pointing out that there are much better options out there with what I have read so far in this thread.

[CryptopreneurBrainboss]

It all depends on choice of the trader which could be as a result of ignorance (not having the right information) or personally decision not to patronize a certain exchange due to not been comfortable with their service. Prior to few months back, Binance didn't have an option to deposit fiat or withdraw your profit directly to your local fiat therefore for resident of the geographical area that supports that withdrawing option via coinbase pro, I see no reason why they'll choice Binance over coinbase.

The two exchange are quite decent in their service delivery. Personally I prefer to use my local exchange (LUNO) to trade my bitcoin instead of using Binance since the LUNO payment option are quite favourable than that of Binance irrespective of the fees been higher than that if Binance.

[milewilda]

Many things depend here. People using Binance because the fees here are very low and there is enough liquidity. But nobody can cashout using binance.

Did you just say nobody can cash out with Binance? Binance exchange supports more than 40 local currencies for direct cash out, and they are still expanding to other countries too, direct deposit and withdrawal to your bank account,  it's something that I've used not that someone else tell me, 
As for the liquidity,  Yes Binance has much than coinbase,  I guess this is another reason why Binance is well ahead of coinbase

I dont know what he do mean about peopel cant cashout with binance.I dont know if he do just simply mean that or doesnt know on what he's talking about. 

Most newbie do not have any idea about Binance. Most of them heard about about coinbase at the beginning

This is true on where most people who do just recently start up would really initially search up common centralized exchangers.This is what happened wayback where
i do initially know about Blockchain.info and Coinbase which are pretty common wayback on previous years.

[exstasie]

Hello. I am having a hard time understanding why anyone would use Coinbase Pro for trading compared to Binance. What am I missing?

People use them because of their reputation and very dominant brand. Binance's multiple hacks (of BTC and KYC info) work against them in those categories. People also use them because they rightly assume Coinbase Pro has better fiat liquidity, which is a draw for BTCUSD traders.

I think Coinbase analyzed their Pro customer base and realized a big chunk of users was only using it as a fiat onramp. Those users won't go to Binance.US just because Coinbase raised their lowest tier fees 0.35%. So they got taxed, while regular traders didn't really see higher fees under the volume-based tiered system.

Smaller traders (at the lowest volume tiers) obviously should and do trade at Binance, but I can see why lots of traders (who aren't at the lowest tiers) are willing to pay slightly higher fees to trade at Coinbase Pro.