Comparison of Binance vs Coinbase [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Binance vs Coinbase comparison!

Your expert: Alejandro Borja

Binance

Your expert: Xavier Tarrasó

Coinbase

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,40%/0,60%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

5.0 – The industry standard for low trading fees and discounts.

3.5 – Higher fees but strong security and ease of use.

Level

≤0,10%

0,40%/0,60%

Brief explanation

Binance, one of the world’s leading cryptocurrency exchanges, is renowned for its competitive and highly favorable commission structure. The standard trading fee on Binance is notably low, starting at just 0.1% for both makers and takers. This fee can be further reduced for users who pay using Binance’s native token, Binance Coin (BNB), which offers a discount, enhancing the utility and attractiveness of holding and using BNB within the ecosystem. Additionally, Binance rewards high-volume traders with a tiered fee structure, which lowers fees significantly as a user’s trading volume increases, dropping the fees to as low as 0.015% for makers and 0.03% for takers at the highest tiers.

Coinbase is known for its relatively higher fee structure, which can be a significant consideration for its users. The exchange charges a flat fee for smaller transactions and a percentage of the transaction amount for larger ones. Fees vary depending on the payment method used, such as credit/debit cards or bank transfers, and the country of the user. Additionally, Coinbase applies a spread of about 0.50% for cryptocurrency purchases and sales. While the fees may be higher compared to some other platforms, they are often justified by the high level of security, user-friendly services, and the robust infrastructure that Coinbase offers to its customers. This makes it especially appealing to new entrants to the cryptocurrency market who seek ease of use and reliability.

Binance

Security Methods: Binance employs a comprehensive range of security measures, including two-factor authentication (2FA), SSL encryption, and cold storage of the majority of user funds. These methods ensure a high level of security that protects users against potential cyber threats and unauthorized access.
Trading Volume and Liquidity: Binance boasts one of the highest trading volumes among cryptocurrency exchanges worldwide. This high volume ensures excellent liquidity, making it easier for users to execute trades quickly and at desired prices, even for large orders.
Reputation and Reviews: Over the years, Binance has built a solid reputation in the cryptocurrency community. It is highly regarded for its robust platform, innovative features, and responsive customer service. User reviews often highlight the platform's reliability and the breadth of resources available to traders.
Transparency: Binance is known for its transparency in operations, particularly in how it handles updates and communicates with its user base during both regular operations and in crisis situations. This transparency builds trust and ensures users are well-informed about their investments and the platform's practices.
Withdrawal and Deposit Policies: Binance offers clear and user-friendly withdrawal and deposit policies, with a variety of payment methods available. These policies are structured to facilitate easy access to funds while maintaining tight security to prevent any fraudulent activity.

Coinbase

Year Founded: Established in 2012, Coinbase has a long-standing presence in the cryptocurrency market. This extensive history not only showcases its resilience and adaptability but also its ability to innovate and grow alongside the rapidly evolving crypto ecosystem.
Number of Users: With millions of users globally, Coinbase is one of the largest cryptocurrency exchanges. This large user base not only demonstrates trust and satisfaction among a significant portion of the crypto community but also contributes to its robust trading volume and liquidity.
Security Methods: Coinbase employs state-of-the-art security measures including two-factor authentication, cold storage of 98% of customer funds, and insurance to protect against theft or breaches of the online storage. This comprehensive approach to security helps ensure user funds are protected at all times.
Possible Regulation: Coinbase is known for its strong regulatory compliance, operating in accordance with major regulatory bodies in the U.S. and other jurisdictions. This adherence to strict regulatory standards ensures operational transparency and security for its users.
Reputation and Reviews: Over the years, Coinbase has built a solid reputation within the cryptocurrency community. Positive reviews from users and its standing in the industry as a reliable, easy-to-use platform further affirm its credibility and reliability as a top choice for both new and experienced cryptocurrency users.

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token BNB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Binance Holdings Limited

Coinbase Global, Inc.

Regulation

Not regulated, but faces regulatory scrutiny in several countries.

Regulated in the EE. UU. y varios otros países

Year founded

2017

2012

Founder

Changpeng Zhao (CZ)

Brian Armstrong and Fred Ehrsam

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance	FEATURES	Coinbase
Binance allows trading with small amounts, accommodating users who wish to start with minimal investments.	Minimum Trade	Coinbase allows relatively low minimum trade amounts, making it accessible for beginners.
Binance offers some of the lowest fees in the industry, with further reductions available when using Binance Coin (BNB).	Trading and Transaction Fees	Fees are higher than average but justified by high security and user-friendly services.
Supports a broad selection of over 500 cryptocurrencies, catering to a wide range of trader interests.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, catering to both popular and niche market interests.
Extensive offering of crypto-to-crypto trading pairs, providing users with great flexibility and trading options.	Crypto-to-Crypto Trading Pairs	Provides a robust selection of trading pairs, allowing diverse trading strategies.
The website provides detailed information about fees and policies although some users might find it overwhelming due to the sheer amount of data.	Website Transparency	Highly transparent about security measures, fees, and operational procedures.
Binance Card offers seamless crypto-to-fiat conversion with up to 8% cashback on purchases, making it a top choice for crypto users.	Credit/Debit Card	The card is widely accepted, allows users to earn cryptocurrency rewards on purchases, and integrates seamlessly with Coinbase accounts, enhancing the user experience for everyday transactions.
Offers secure storage options with an integrated wallet that supports both cold and hot storage methods.	Storage Offering	Offers secure wallet services with a majority of assets stored in cold storage.
Provides competitive staking options and rewards, enhancing user engagement and investment returns.	Staking and Rewards	Provides competitive staking rewards and incentives for various cryptocurrencies.
Both the mobile app and desktop platforms are highly intuitive and fully-featured, suitable for traders of all experience levels.	Mobile App and Desktop	Both platforms are user-friendly and highly functional, providing excellent trading experiences.
Offers multiple channels for support; however, response times can vary, sometimes leading to delays.	Customer Service	Offers adequate support, though response times can vary during peak periods.
Binance facilitates easy and fast deposits and withdrawals, though some users have reported delays with fiat withdrawals.	Deposit and Withdraw	Efficient deposit and withdrawal processes, with some limits and fees that vary by region.

Key features

Analysis tools

Advanced charting tools, a wide range of technical indicators

User-friendly charts, basic tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Futures trading, margin trading, staking, Binance Launchpad, Binance Earn, BNB token rewards

Staking, Coinbase Earn educational rewards, recurring buys, Coinbase Pro exchange

Anonymity

Key points

Available cryptocurrencies

500+

100+

User-friendliness

Binance is a highly popular platform known for its comprehensive features and user-friendly interface. While it offers advanced tools for experienced traders, its basic version remains accessible and easy to use for beginners.

Coinbase is known for its highly user-friendly interface, making it one of the best choices for beginners. The platform is simple to navigate, and buying and selling cryptocurrencies is straightforward and hassle-free.

Value for money

Offers excellent value for money with some of the lowest trading fees in the industry and a vast array of supported cryptocurrencies and features.

Provides reasonable value for money with higher fees but strong security features and a user-friendly interface, making it suitable for beginners.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

United States, Canada, United Kingdom, Europe, Australia

Best for

Perfect for all types of investors, from beginners to advanced traders, due to its low fees, vast array of cryptocurrencies, and extensive features.

Great for beginners who prioritize security and ease of use, despite higher fees compared to other exchanges.

Base currencies available

USD, BTC, ETH, BNB, USDT

USD, EUR, GBP, BTC

Account

Trading

Binance is one of the largest and most popular exchanges, offering a vast selection of cryptocurrencies, advanced trading features, and high liquidity. Its security measures are top-notch. However, the platform can be overwhelming for beginners.

Coinbase is one of the most popular exchanges, especially for beginners. It offers a user-friendly platform, high security, and a good range of cryptocurrencies. However, its fees are higher compared to some other exchanges.

Deposit and withdrawal

Binance supports a wide range of deposit methods, including bank transfers, credit/debit cards, and a variety of cryptocurrencies. Withdrawals are processed quickly, usually within a few hours, with minimal fees .

Coinbase supports a wide range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, but fees can be higher compared to other exchanges .

Account opening process

Binance offers a seamless account opening process. Users need to provide personal information, complete KYC verification with identity documents, and typically get their account approved within a few hours to a day. It’s secure and efficient.

Coinbase offers a user-friendly and seamless account opening process. Users need to provide personal information, verify their identity, and typically get their account approved within a day. It’s secure and efficient .

KYC required?

Yes

Customer Service

Binance provides extensive customer support through email, live chat, and a detailed help center. Support is available 24/7, and the response times are quick, making it reliable for users globally.

Coinbase offers extensive customer support through email, live chat, and a detailed help center. Support is available 24/7, and the response times are quick, making it reliable for users globally .

Security

Binance employs comprehensive security measures, including 2FA, SSL encryption, and cold storage. It is regulated by several financial authorities and has a strong track record, making it a secure choice for investors .

Coinbase employs extensive security measures, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, making it a highly secure platform for investors .

Which of these exchanges is for you?

Alejandro Borja

As an expert in the crypto market, I highly recommend Binance for its comprehensive range of features and user-friendly interface. The Binance Card, in particular, stands out by allowing seamless crypto-to-fiat conversions and offering up to 8% cashback on purchases, making it an excellent choice for both new and experienced crypto enthusiasts. Its security measures and vast selection of cryptocurrencies further enhance its appeal.

Xavier Tarrasó

As Threenvest reviews Coinbase, it is evident that this platform stands out as a robust and user-friendly gateway into the world of cryptocurrency trading. Ideal for both novice and experienced traders, Coinbase provides an intuitive interface, extensive educational resources, and a suite of trading options that cater to a broad spectrum of investment strategies. The security measures employed by Coinbase are commendable, with best practices like cold storage of funds, insurance, and stringent compliance with regulatory standards, ensuring a secure environment for digital asset trading. However, despite its many strengths, Coinbase does exhibit some limitations when compared against the broader landscape of cryptocurrency exchanges. The fee structure, particularly for small transactions and casual traders, can be notably higher than some of its competitors, which might deter those seeking more cost-effective trading options. Additionally, while Coinbase offers a substantial range of cryptocurrencies, it may not match the sheer volume of trading pairs available on platforms like Binance or Kraken. Nevertheless, Threenvest believes that for users who prioritize a secure, straightforward, and well-regulated trading experience, Coinbase remains an excellent choice. Our comprehensive review finds that while no platform is without its flaws, Coinbase’s commitment to security, ease of use, and continuous improvement align well with the needs of most cryptocurrency enthusiasts and investors.

Read Binance review

View all comparisons against Binance

Read Coinbase review

View all comparisons against Coinbase

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.