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Coinbase and Binance are two of the most well-known names in the crypto space, with both offering a generous variety of investment types with intuitive trading platforms, bonus account features and a wealth of resources to support you. With so many similarities, it begs the question: when comparing Coinbase versus Binance, which is better? We dig in.
| Coinbase | Binance | |
|---|---|---|
Finder Score | ||
Number of cryptocurrencies |
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Costs and fees |
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Availability | Not available in: CA, HI, IN, MA, MT, WY | Not available in: AK, CT, GA, ME, NC, ND, NY, OH, OR, TX, VT, WA |
Security and storage | Self-custody crypto wallet Coinbase Vault Coinbase Prime and Coinbase Custody cold storage Auto-enrolled 2FA, password protection | Crypto withdrawal whitelisting 2FA with real-time monitoring Meets SOC 2 and ISO requirements |
Customer support | 24/7 support via live chat, phone and email | Live chat, 7 days a week from 6 a.m. – midnight ET |
Mobile app reviews | Apple App Store: 4.7/5.0 stars based on over 1.8M reviews Google Play Store: 3.0/5.0 stars based on over 10.7K reviews | Apple App Store: 4.2/5.0 stars based on over 9.4K reviews Google Play Store: 3.0/5.0 stars based on over 10.7K reviews |
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To best compare Binance versus Coinbase, we take a look at the key features between the two.
| Coinbase | Binance | |
|---|---|---|
Types of transactions supported | Limit order Market order Stop-limit order Bracket order | Limit order Market order Post Only Iceberg Time in Force OCO |
Account funding methods | Bank transfer Coinbase Cryptocurrency | Bank transfer Cryptocurrency |
Minimum trade amount | Varies based on order | Typically around $10 but varies based on currency, cryptocurrency and market value |
Advanced features | Order book, TradeView advanced charting, derivatives trading, USDC rewards | Advanced charting, margin trading, futures trading, Binance trading bots, Binance Earn |
Staking available | Yes, 133 assets with up to 12% APY | Yes, up to 17.30% rewards rate |
Tax forms provided | Form 1099-MISC, Form 1099-B, gain/loss report, raw transaction report | Form 1099-MISC |
Educational resources | Coinbase Learn with beginner guides, tutorials, videos, etc. | Binance Academy with videos, product guides, articles, etc. |
Though similar, Coinbase and Binance each shine in their own way based on their offerings and reputation. When deciding between Binance versus Coinbase, it is also important to consider your experience level.
If you value selection, Coinbase is likely the better fit for you. It offers a much wider selection of coins than Binance, with 286 coins and over 60 fiats available. Binance, on the other hand, only offers 168 coins and 35 fiats.
Binance goes the extra mile with special security features like real-time monitoring with advanced data encryption and offline cold storage. There is also API access control, unusual activity safeguards and multisignature and threshold signature schemes (TSS) for its wallet and personnel infrastructure.
While Coinbase offers two-factor authentication (2FA), Binance combines that with a Secure Asset Fund for Users (SAFU) to protect user assets.
Binance and Binance.US are similar but entirely separate platforms, with Binance servicing the international community while Binance.US accommodates US users. After regulatory issues in 2019, Binance shut down its US services and launched a restructured Binance.US instead that complies with US regulatory law.
Both Coinbase and Binance.US are leading brokerage platforms with many similarities. They are both available in the US with advanced charting tools and a pronounced emphasis on security.
They also promote investor education with similar resource programs that provide helpful information to benefit both new and experienced investors alike. Customer support is also a priority, with availability seven days a week for both platforms.
Coinbase is better for beginners with its streamlined, intuitive interface that simplifies the trading process and keeps things organized with a digital wallet. US residents will find more features than Binance.US, but these features are more geared toward beginners than more advanced traders.
There are also greater limitations for international customers, but it offers a wider selection of cryptocurrency and fiat currency for US traders.
With its Advanced Trade feature, Binance is better for advanced traders. It offers more intricate features and tools designed to support experienced investors, such as comprehensive charting tools with margin and futures trading available and Binance trading bots to help.
Both Binance and Coinbase carry insurance from the Securities Investor Protection Corporation (SIPC), but there are a few key differences.
Binance has had a bit of a bumpy road in the last few years. In October 2023, Binance was sued by the Securities and Exchange Commission (SEC), and the company responded by temporarily ceasing all deposits, withdrawals and trades.
In November 2023, Binance CEO Changpeng Zhao pleaded guilty to money laundering charges, and the company agreed to pay $4.3 billion, with Zhao personally responsible for $50 million.
Overall, Coinbase fares much better and is recommended by most reviewers as a public company with a better track record. It is also praised for its customer service.
Binance.US may be known for its low fees, but Coinbase has a more inclusive approach, embracing beginners with a streamlined interface and user-friendly features. It also provides more investment options for US investors instead of Binance.US, which relies on its international arm for its more widespread investment opportunities.
Binance is privately held, leaving its finances a mystery, while Coinbase promotes transparency by publishing its quarterly financial statements and undergoing annual third-party audits.
Because of the regulatory issues affecting Binance and its investing limitations, Coinbase is better for investment support and security than Binance.
Keep in mind that Coinbase and Binance.US are not your only options, as other brokers may have a greater selection of crypto. These brokers are among the top choices for the best brokerage accounts today:
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Formerly known as the Huobi exchange, HTX is a global crypto exchange that was previously available in the US.
Changelly allows users to directly exchange cryptocurrencies on its platforms, but it lacks full transparency in its fee structure.
Kraken is one of the best exchanges for advanced traders, offering a wide range of useful features and gaining many positive user reviews.