Since then, Binance has grown immensely in size and reputation, cementing its place as one of the most trusted and well-known exchanges in the cryptocurrency world. This was enough to fund the launch of their platform and allow it to begin trading in July of that same year. In 2017, Binance made its official debut on the world stage with an ICO that raised over $15 million. By 2014, Binance had grown significantly enough for them to begin seeking external investors, and that’s when the platform began to get noticed by the rest of the cryptocurrency world. It was during this time that Binance saw its first real growth, with the founding members using it to trade bitcoin among themselves to test and improve the platform’s software. Binance’s initial development began way back in 2013 by a team of developers led by founders Changpeng Zhao and Yi He. Binance historyīinance is one of the most popular and well-known crypto trading platforms in the market today, but its story stretches back many years before its 2017 launch. Overall, when deciding between Binance and Coinbase, the most important thing is to consider your own needs and goals as a cryptocurrency investor. If you are looking to save money on cryptocurrency trading, then it may be better to look at other platforms instead.
However, both platforms are excellent choices for anyone who wants to invest in cryptocurrencies.įinally, keep in mind that both Binance and Coinbase charge relatively high fees for their services. To decide which platform is right for you, it’s important to consider your experience level, trading style, and other factors. Ultimately, whether you choose Binance or Coinbase depends on your individual needs and preferences as a cryptocurrency trader. Additionally, Coinbase offers more payment options, including credit and debit cards, which Binance does not currently support.
However, Coinbase has more user-friendly interfaces and is generally easier to use for novices. In terms of fees, Binance charges lower trading fees than Coinbase. As such, if you are looking to invest in niche altcoins or lesser-known cryptocurrencies, Binance may be a better choice for you. Coinbase only supports a small number of different coins, while Binance has hundreds of different coins and tokens listed. Coinbase, on the other hand, attracts a more casual crowd of cryptocurrency beginners who are just getting started with digital currencies.Īnother important distinction is the type of digital currencies supported by each platform. Binance tends to be more popular among experienced traders who are looking for a wide variety of trading options and features. One key difference between the two platforms is their respective user bases. Coinbase - which should you choose?īoth Binance and Coinbase are popular cryptocurrency exchanges used by millions of people around the world to buy and sell digital currencies. Ultimately, the choice is up to you and what your individual needs are. However, if you prefer having access to a wider variety of coins and ICOs, Binance could be a better option. If you are an American investor and want to use a reputable service that is easy to navigate, Coinbase may be the right choice for you. In addition to these options, Binance allows users to participate in initial coin offerings (ICOs), which is a way for companies to sell their cryptocurrencies and get funding.Īlthough Coinbase and Binance are both well-regarded exchanges, there are some tradeoffs to consider when choosing between the two. Binance allows users to trade Bitcoin, Ethereum, Litecoin, Monero, and other popular altcoins. However, it is not available in as many countries. The exchange has become highly popular in the United States, which is why it is often considered the go-to service for American cryptocurrency investors.īinance has a larger selection of coins than Coinbase does. Coinbase supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Coinbase - which should you choose?Ĭoinbase serves as a wallet for users of digital currencies and offers a way to buy and sell coins.
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