Binance vs Coinbase Pro

[Stedsm]

I believe that Coinbase Pro probably gives you the best features in the package (itself) and it's not the case with Binance. If you are interested in feature-packed trading, go for Coinbase pro but if you look for lower fee structure, then Binance is a good place and they charge you around 1% commission when you open up a futures trade. Binance is also good because of the IEOs that it launches. People there head towards it when these IEOs are about to become tradeable and these EXCHANGE-based launches make you a lot of money in just a few moments. If you like to get higher profits on such things, Binance is the best place.

[Twinkledoe]

-snip-

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.

I think it is more of not knowing about the services of Binance. Since Coinbase is highly marketed in some areas, they thought that they can use this platform without a doubt not considering the fees involved. Some are really for convenient purposes, where they are used to changing their crypto to fiat. Like for example, if you have 2 local exchanges offering conversion of your btc to your local fiat, usually you will use the exchange that has been existing for so long already as compared to the new one, even if the new one has competitive fees and rates. It is also more of a trust factor of the user to a certain exchange.

[WSDN]

In my opinion binance it is better than coinbase pro. They have their own coin with a big price history ( $40 ) and also I heard they actually have more than 1000 employees . About coinbase I did not hear them too much . I would recommend you to try binance

Binance has more trading options and the fees are much cheaper than Coinbase Pro. I have tried trading at these two exchanges, but Binance seems to suit me better. Of course, many new programs for new investors, but not all are good and you should consider carefully when participating. In addition, this is the only exchange that has had the most successful IEO projects and all have very high growth rates.

[Zemomtum]

Most people are comparing that you can cash out to your bank directly with coinbase pro and binance does not provide such a service. That is not true, I deposit and withdraw directly to my bank account but I don't know if that service is available to all countries. Besides, Coinbase pro service is also not available globally, as at the time of writing, I cannot utilize any of the services so the high fee is not justifiable. Most people that use coinbase are newbies that have not been exposed to other options with liquidity and low fee.

[Golftech]

In my opinion binance it is better than coinbase pro. They have their own coin with a big price history ( $40 ) and also I heard they actually have more than 1000 employees . About coinbase I did not hear them too much . I would recommend you to try binance

Binance has more trading options and the fees are much cheaper than Coinbase Pro. I have tried trading at these two exchanges, but Binance seems to suit me better. Of course, many new programs for new investors, but not all are good and you should consider carefully when participating. In addition, this is the only exchange that has had the most successful IEO projects and all have very high growth rates.

Volumes and cheaper fees really gave binance good eye view from traders who are working with this business especially to those who are in day trade
practices, though the choose still depends from how people aimed and generates, both exchange have their capabilities and both have long term
supporters and traders who are compensating with the services.

[leea-1334]

I will never know about Coinbase since I do not have access to it thanks to my nationality,,, but from an objective perspective, if I were an American or a United Kingdom resident, like a friend I know is, I would stick to Coinbase. Binance has been safe so far for people and they have even protected users from hacks but Coinbase, if you do not mind being KYC'd,,, is insured by the government in US and UK too.

[BitcoinGirl.Club]

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.

For US clients Binance has the whole new website with a separate department however the verification sucks especially for those who are not very tech savvy. I have friend in US and he is trying to buy bitcoins from last few day but he is stuck in verification process. He is too old to do the verification process by himself. The customer service is not that friendly at all.

They should have a liver chat feature.

[Utoy101]

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.

I believe binance is the best cryptocurrency exchange available in the market now, I've had account with binance since 2017 but i've never had an account with coinbase because i've never see any need to create one with them. From all the difference ls you stated in the write up i believe binance offers the best features and reasonable fee charges. The liquidity and volume of binance is something to write home about

[BChydro]

Binance is also good because of the IEOs that it launches. People there head towards it when these IEOs are about to become tradeable and these EXCHANGE-based launches make you a lot of money in just a few moments. If you like to get higher profits on such things, Binance is the best place.

I am still not bullish on the IEO launches they made recently, it is true that you can make money in a short time when a new market evolves and that will happen here but it will follow the same route as ICO as they will dump all the coins once they get the desired profit and the cycle continues. I still trade with binance than coinbase because of their lower fee structure.

[Ridwan Fauzi]

I agree to someone who say that most trader/crypto user aren't aware against it. You may need to search some thread on this forum who ask the reputable exchange that can be used by newbies or by most people they will anwer that binance is the best to trade.

So, at least they need comfortable when they use a platform to trade. No matter how much fees that will be spend they will pay for it. Because we spend money on the place that we don't know where it is, and a suggestion form most people will be choosen here compared they found a service although they have a low fee but there is no many people who suggested to trade in it.

[thecodebear]

I use Coinbase Pro exclusively these days. I've probably used like 9 or 10 different exchanges over the years, including using Binance for a little bit before they shut out US customers. I guess they have a US specific site now but I haven't checked it out.

Coinbase Pro used to be great on fees, there used to be no fee for makers! But now that they've jacked up the fees a couple times they are pretty terrible on fees. I just make sure to try to stay above 100k/month volume so I get the 0.1% maker trading fee. I checked out some other exchange some well known crypto twitter guy I follow always promotes and saw their fees are only 0.025% but at this point I am just gonna stick with Coinbase Pro because I trust them. I don't ever worry about coinbase being hacked and I'm fine with the 0.1% fee as long as they don't raise it again. I'm used to using Coinbase Pro and its already hooked up to my bank account and I don't need to go through any complicated verification like I would setting up at a new exchange.

So while I miss Coinbase Pro's old fantastic fee structure at this point I just stick with them because I trust the exchange and have no complaints with it.

[TheGreatPython]

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.

I think it all depends on where you’re living. Take for example, for those living in the US, there is Binance.US and not the main Binance.com that you might be using. Binance.US compared to Coinbase Pro, both will have ways that they are better than each other for US traders.

In terms of Security, I think that the Coinbase Pro is better in handling their site than Binance. We all know that Binance was hacked for $40 million dollars not long ago (they were able to recover), but Coinbase has always be able to avoid every attack on their site. So it may also be that there are people who are considering things like this, and felt like Coinbase is better.

Another thing that may determine the exchange you choose can be the coin you’re trading. There are some coins that you can trade on Coinbase but wouldn’t see them on Binance, same thing with the other way round.

[cassavachips]

Both are good exchanges and of course everyone has a reason to use them. Coinbase has features that are not owned by Binance and Binance has a lower cost than Coinbase.

[suzanne5223]

Both are great exchange but I think why some people use coinbase pro is because of security guarantee. I think coinbase has well built security protocol than that of binance since every trader wants their funds tobe kept safe

I somehow disagree with you about coinbase pro security guarantee both exchange have been hacked before but Binance manage to provide their users fund. However, most crypto trader consider binance as the best exchange due to their service and trading fees.

[dragon695]

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.

Maybe it's a trader's habit. Sometimes the color and appearance of exchange also affects the outcome of the transaction. Sometimes at Binance, they don't do as well as Coinbase, so they accept high fees at Coinbase. but most Americans trade at Coinbase, which is their country's exchange and they want to enrich them rather than CZ. Everyone is aware that Binance is now safe and has lots of options to trade.