The first and foremost step before investing in the crypto world is knowing which platform should be used. Because the craze of investing in crypto is increasing day by day there are plenty of crypto exchanges available. And if you are a newbie, then it must be difficult for you to evaluate between them. So to lessen some of your pressure we are here to give you the difference between Binance vs Coinbase. So, without wasting a minute, let us begin our topic.
Distinction based on Fees
The fee structure is the first thing an investor looks for. The fee change can influence the decision of the investor greatly. First, in this Binance vs Coinbase comparison, we will talk about Binance, a user can make transfers in fiat currencies for free. This platform has the same fee structure for both the makers and takers. If you are an existing user of the platform, then after Binance login you can view the fee chart easily. It might feel confusing at first but if you look closely you will be able to evaluate the offers and rewards given to the users.
Now moving towards the Coinbase exchange, we cannot provide you with the details of its fee structure because it has not been disclosed yet. As per their official website, the trading fees charged by them are based on the date, time, and amount of order. So after the Coinbase login, you will get to know its exact fee structure.
The difference based on Wallet
Moving further with our Binance vs Coinbase comparison our next point is wallets. It is not at all recommended to leave your digital assets on the exchange only even for a new user. Therefore, both of the exchanges introduced their wallets for the users to store their digital assets.
After Coinbase login, you will be able to find the link to Coinbase Wallet easily. In this wallet, users can easily store up to 4,000 crypto assets that include NFTs, dApps, and cryptocurrencies. The assets here are secured with biometric control.
On the other hand, Binance acquired Trust Wallet in the year 2018 and it was officially recognized as the wallet of Binance. Its link can also be availed after the Binance login. This Wallet has 53 blockchain networks and over a million assets are supported by it. These assets also include NFTs and dApps.
Rate of Interest
The next point in our research between Binance vs Coinbase is interest earning. If you are looking for an interest-earning opportunity, then go for Coinbase because Binance exchange does not give you such opportunities.
As per our evaluation, we can say that Binance wins this comparison of Binance vs Coinbase. But this is our review your decision should not be solely dependent on our saying. We are not saying that Coinbase is a wrong choice and if you find Coinbase more appealing then you should go for it. If we look into small details such as available cryptocurrencies, Coinbase is a better choice. Hence, in the end, we just want to say that the real winner between them will be who fulfills your eligibility standards. We hope that this blog helped you in your evaluation of the two exchanges.