The more it is important to explore cryptocurrencies like Bitcoin and altcoins, the more it is important to know about crypto exchanges because they are the easiest way to buy cryptocurrency. There are many cryptocurrency exchanges, but some are very popular ones. Among these include Binance, Kraken, Bittrex, Huobi, Coinbase, and more. Although all these crypto exchanges are best in their way, today we are going to emphasize two major exchanges, which are Binance and Coinbase. Just like in any competition, we are excited to know about which technology or asset, is better than its opponent. So today, we are going to discuss which of the two crypto exchanges are supposed to be the best alternative for a newbie trader, is it Binance or Coinbase? Let us find out from this blog.
Now it is impossible to declare the winner unless you know the basic features of Binance or Coinbase. We need to understand them one by one. So let us begin with Binance.
Binance
Binance crypto exchange was founded by Yi He and Changpeng Zhao in 2017. Both of them had experience working at OKCoin exchange. Binance is a well-known crypto exchange where you will find connectivity between buyers and sellers regarding the trading of cryptocurrency. Binance features its crypto coin called Binance Coin (BNB). In July 2017, it was used for ICO by its Binance exchange to raise 15 million USD. If you think about the offer of fiat trading in this exchange, then it is not possible. This implies that you can only fund accounts and go for crypto trading. In terms of choosing better exchange between Binance or Coinbase, for crypto trading, then Binance wins. There is no charging of fees for withdrawals or deposits in Binance.
Coinbase
Now let us move on to our other segment of discussing better alternatives, Binance, or Coinbase. It is a broker exchange founded by Fred Ehrsam and Brian Armstrong in 2012. It differs from Binance as it does not directly involve buyers and sellers, rather it purchases cryptocurrency for its customers. Here the use of fiat currencies of any country is possible by Coinbase traders to buy cryptocurrencies. Coinbase exchange finds its best use in North America and Europe. Unlike Binance, fiat trading on Coinbase is profitable for newbies as they don’t need to rely on other exchanges for crypto trading. Everything is possible into this one exchange (Coinbase).
Which Exchange Is More User-Friendly? Binance Or Coinbase
Now in this round, there is a possibility to declare the winner among these two cryptocurrency exchanges. Based on being a more user-friendly product for cryptocurrency as it is mostly preferred exchange for trading firstly. It is all because of its clear layout, easy and properly crafted with good basic features. Binance could have led over Coinbase if it would have been much advanced for newbie traders. However, it does promises with relevant and clear information and features for traders’ needs. No matter both the cryptocurrency exchanges are better in their features, but if being asked to choose a user-friendly exchange, be it Binance or Coinbase, then Coinbase wins over Binance.
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