So how do these exchanges compare on the top 12 coins by market capitalization? A comparison there might tease out some differences. At our last count, Coinbase gives traders access to 253 coins, while Binance offers access to 153, or about 60 percent as many as its rival.īut all that choice is like a buffet: If you don’t want to trade a specific coin, it doesn’t matter if it’s there or not.
The straight numbers look to be in Coinbase’s favor in terms of how many total kinds of coins are offered by each exchange. Given their predominance for traders, it seems like Binance would be the clear choice. In addition to this little extra discount, Binance allows you to trade the two biggest-volume coins for free: Bitcoin and Ethereum. In comparison, you’d pay the same amount at Binance for that trade, unless you paid with BNB, cutting the fees to $18.75 and $30, respectively.Īdvantage: Binance offers a clear advantage on what’s likely to be the largest group of ongoing fees you’ll pay. At Coinbase you’d pay 0.25 or 0.40 percent as a maker or taker, respectively, for a total cost of $25 or $40. Binance’s commission depends on which coin you’re trading: Bitcoin and Ethereum (Tier 0) or less popular coins (Tier 1).įor example, imagine you’ve placed $25,000 in trades in the prior 30 days and you want to place another $10,000 trade. Here’s how each exchange breaks down on its fees. However, Binance allows you to dodge the commissions on Bitcoin and Ethereum trades entirely. So trading fees generally differ not only on your volume but also the type of trade you make. However, Binance even goes one better than that.īoth Coinbase and Binance use a maker-taker pricing structure, charging based on whether you add liquidity to the market (makers) or remove liquidity from the market (takers).
Fortunately, it’s the norm for most exchanges to offer discounts based on your 30-day trading volume. The most significant cost you’re likely to pay are your trading fees, and if you’re doing a lot of it, those can certainly add up. Here’s how Binance and Coinbase compare on some of the most important factors to traders. Binance said its customers’ assets are safe and Coinbase said it would continue to operate its business as usual. Binance was also accused of misusing customer funds and the SEC warned investors of using its platforms. In June 2023, the Securities and Exchange Commission sued Binance and Coinbase, alleging they illegally operated as exchanges, broker-dealers and clearing agencies, as well as offered and sold unregistered securities. We’ll compare it to Coinbase Advanced Trade, which offers much lower costs than the basic Coinbase service, though we’ll refer to it as Coinbase. In this article we’ll refer to Binance.US – the American arm of the larger Binance organization – as Binance. Binance.US and Coinbase are two of the most popular cryptocurrency exchanges around, so which should you choose? The answer depends on what exactly you need, which crypto coins you want to trade, how much you’re willing to pay for commissions and other key factors.Ĭoinbase and Binance.US are both major players among established cryptocurrency exchanges.
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