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Binance vs. Coinbase: Which crypto exchange is better?
Binance.US and Coinbase are major exchanges, but they do have some differences – discover which one is best for you.
Round 1: Binance vs. Coinbase vital statistics
Apart from some minor differences, these are similar platforms in terms of the basic service and costs that are associated with using them. Coinbase’s costs are variable and depend on more factors, which makes them more complicated to understand than Binance.US’s costs. Overall, costs for using Binance.US are lower than Coinbase because of its extremely low trading fees. Although Binance is from China, both Binance.US and Coinbase have their headquarters in the US. Binance.US is available in fewer states than Coinbase.
Coinbase offers a dedicated debit card and an external wallet where you can store NFTs and participate in limited DeFi options. Both offer services to earn a return on crypto, but Binance.US has a more extensive history and a better interface. The overall experience on the Binance.US interface is more consistent and practical compared to Coinbase, but its customer service can be difficult to reach.
 |  | |
| Overall rating | ★★★★★ | ★★★★★ |
| Costs rating | ★★★★★ | ★★★★★ |
| FCA-registered | ||
| Exchange location | USA | USA |
| Offers a debit card | ||
| More Info | More Info |
Winner: Binance.US
Round 2: Supported coins
Despite the fact that the main branch of Binance supports over 600 cryptocurrencies and 1,000+ trading pairs, Binance.US only supports around 97. Coinbase supports about 168 of the top cryptocurrencies, making Coinbase the clear winner for this round.
Winner: Coinbase
Round 3: Supported fiat currencies
Binance.US only supports the US dollar as compared to the 23 fiat currencies supported by Coinbase. In terms of versatility, Coinbase is the clear winner, but some may appreciate the simplicity of only having one fiat currency.
Winner: Coinbase
Round 4: Cost
When it comes to cost, Binance.US is easier to understand than Coinbase. Binance.US allows deposits and withdrawals via crypto, bank transfers and wire transfer. Trading fees on Binance.US begin at 0.1% for both maker and taker trades.
Coinbase provides more fiat deposit and withdrawal methods but has much higher trading fees, with the Pro version starting at 0.6% and 0.4% for takers and makers, respectively. The basic Coinbase platform has even higher trading fees than the Pro version, and they vary depending on whether you are buying, selling or converting.
| | |
| Deposit Fees | Wire transfer: None Debit card: 3.75% Apple Pay: 3.75% Cryptocurrency: None | Wire transfer: $10 |
| Trading Fee | Maker: 0-0.30% Taker: 0-0.45% | Maker: 0.00 - 0.4% Taker: 0.05 - 0.6% |
| Withdrawal Fees | Wire transfer: $10-15 (minimum $100 withdrawal) Cryptocurrency: Fees vary | Wire transfer: $25 |
| Deposit methods | Cryptocurrency, Debit card, Wire transfer, Apple Pay | Bank transfer (ACH), Debit card, PayPal, Wire transfer, Apple Pay, Google Pay |
| More Info | More Info |
Winner: Binance.US
Round 5: Wallets
Coinbase has an internal wallet option but also utilizes an external self-custody wallet app: Coinbase Wallet. Binance.US has the same setup, with an internal wallet option and an external self-custody wallet: Binance Wallet.
Coinbase’s external wallet supports NFTs and DeFi as well as Ethereum and all EVM-compatible networks (including Solana, Avalanche and Binance Smart Chain). Binance Wallet only supports Ethereum and Binance Smart Chain.
Coinbase users are not required to use Coinbase’s external Coinbase. Instead, they can simply use the wallets provided on the exchange. The same is true for Binance.US. Coinbase gets an edge here because its proprietary wallet supports more networks than Binance’s.
Winner: Coinbase
Round 6: Ease of Use
Binance.US has a simple, practical approach that doesn’t try to chain users to its services. Both deliver a pleasing interface, but Coinbase has a less coherent overall structure.
Winner: Binance.US
Round 7: Security
Coinbase has remained compliant since its inception. Binance has had some security issues, but Binance.US was developed for the sole purpose of complying with US regulatory and security standards. However, it continues to be under scrutiny, which is why it is not available in a few US states.
Both utilize industry-standard practices to maintain security, but Coinbase was hacked in October 2021. The hack resulted in funds being stolen from 6,000 users, but they were all reimbursed.
Winner: Draw
Coinbase vs. Binance.US winner: Binance.US
Coinbase is the preferable exchange if you are looking for sheer volume of supported cryptocurrencies and fiat currencies. However, it is not crucial to have access to every crypto or fiat to become a well-rounded crypto user. Due to siloing, Coinbase users may find they are becoming experts on using Coinbase’s platform instead of improving their overall crypto acumen.
If you are in one of the states where Binance.US is available, then this may be the platform for you. Ultimately, the experience with Binance.US is comparable to Coinbase, if not easier, but the far cheaper trading fees on Binance.US make it a more attractive option.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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