Centralized cryptocurrency exchange platforms are on the rise throughout the year 2018. The price explosion of Bitcoin highlighted this opaque means, at the time, that the blockchain represented for the general public. Focus on two giants whose rivalry leads the continuous improvement of its services.
Coinbase vs Binance: the ergonomics of the site, the application and the ease of use
For the maximum number of new users who can join the platform, Binance and Coinbase need to make using their tool as easy as possible. It’s a complicated exercise, because you have to know how to manage between highlighting all the features of the platform e avoid saturating the screenat the risk of drowning the user in a flood of too much information…
Our take on Binance ergonomics
Binance is arguably the most comprehensive platform in terms of tools available. Which makes that too the most important visually. By connecting to Binancethe user is sent to the main page with an overview of his portfolio.
At the top of the screen, several drop-down menus are visible. And give you access to numerous submenus. The inexperienced user will have to take his time during the first uses to orient himself in this space. !
Note that there is on the mobile Binance Litemuch more clean and easy to use.
Our take on Coinbase ergonomics
Coinbase is very simple in terms of ergonomics. First of all, its homepage is cleared of all parasitic information. And only important information is displayed. The menu on the left also goes to the simplest and offers, in a word, the category that the user can and will use.
the Coinbase’s great advantage is that it offers at a glance access to the desired menu. A drop-down tab is even present at the top right of the screen, it allows you to find all the “advanced” tools the user might need. Furthermore, through a simple graph, it allows you to see the evolution of your assets in real time, on several scales, from the last hour, to the genesis of the story.
The best user experience is on Coinbase
Coinbase is the better of the two platforms in terms of usability. This certainly brings out fewer tools than Binancebut of a from the ergonomic point of view it changes a lot.
First because the list of the main screen allows access to one click in the desired position. But also why “simpler” words are used.. Example with ” Exchange ” for Coinbase which leads to a page with the list of available cryptocurrencies. ” Trader ” for Binance displays a drop-down menu with seven available options… This is just an example that has its capital importance for the choice of a novice user in this world.
Coinbase vs Binance: platform fees
Here, too, a crucial topic for an exchange platform. Transaction fees are important in choosing a broker. The user will be more likely to go to the highest bidder, that is the platform that will offer the lowest commissions.
Commissions on Coinbase
On Coinbase, the fees are fixed. They rise to a height of 1% for each transaction made. This applies to Supplying of cryptocurrencies at the market priceas for limit ordersbut also for withdrawals to addresses outside the account.
As for advanced trading, it all depends on the amount traded. The higher the trading volume, the lower the fees.
The staking fees depend cryptocurrency that is staking. It is therefore possible to make certain cryptocurrencies work directly on Coinbase by paying a staking fee.
Commissions on Binance
ON BinanceThey rates vary for all services.
Regarding trading, the commissions are set at 0.10% of the transaction amount. For couples with BTC (ex: ATOM / BTC) the costs are …0% ! Please note that rates may be reduced to 0.075% using BNB as brokerage fees.
For cryptocurrency deposits and withdrawals, the the fees are specific to each cryptocurrency. An exhaustive list includes these cryptocurrencies and the fees associated with their withdrawals.
The lowest fees are on Binance
Binance is clearly the most profitable platform for trading. Withdrawals, derivatives and spot trading, staking, all fees are well below what Coinbase can offer.
The fact thatand Binance offers a reduction in fees using their own cryptocurrency adds an additional benefit.
It should also be noted that some weeks are exempt from trading fees. In the month of September, Ethereum exchanges were at 0% brokerage fees on Binance… And other discounts are regularly promoted. Their policy is very aggressive on this point.
Binance or Coinbase: which offers the widest variety of cryptocurrencies?
A centralized platform must grouping many products and cryptocurrencies to meet the needs of as many customers as possible. Still here, Binance exits the game.
The Chinese platform brings together more than 500 different cryptocurrencies. It is therefore a gigantic exchange between multiple pairs and with low negotiation costs as seen above.
This ranking and the the number of cryptocurrencies continues to growwith the continuous research and desire for expansion of the Chinese giant.
The US platform continues to expand. 50 cryptocurrencies were listed in April. Today the total number exceeds 150 cryptocurrencies.
Coinbase is trying to bridge the gap by increasing its list of the biggest caps in the cryptocurrency market. In particular, this allows you to respond a need for a larger part of the community. Highlighting projects followed by a large number of people makes this possible to acquire new users who will remain loyal to the platform !
Binance offers the greatest diversity of cryptocurrencies
It’s obvious Binance and its much more comprehensive list of cryptocurrencies benefiting from this point. The fact that this giant adds a significant amount of cryptocurrencies, and this regularly, allows it to keep up and to attract new customers who wish to invest in a specific project.
Binance or Coinbase: which one offers the most features?
While buying a cryptocurrency is the simplest investment, many other features allow you to take advantage of cryptoassets. in a very different way from a simple transaction.
Features on Binance
ON Binance, many functions are available. It’s possible staking of cryptocurrencies and stablecoins. The Challenge was also introduced to exploit more attractive returns, through Liquidity Pools, even if the risk is greater.
Furthermore, trading is no exception with Futures contracts which allow you to trade with significant leverage (up to x125).
Leverage Token, BNB Vault, Binance Pool and NFT are the other main features.
Features on Coinbase
Coinbase also offers similar functionality here. It is possible to bring certain crypto assets into play. The advantage is that these remain available and can be withdrawn or exchanged at any time.
Recently, Coinbase offers, via Coinbase Pro, margin trading and the ability to integrate APIs if the user so desires.
Furthermore, it is possible to earn a few dollars in the form of cryptocurrencies by following apprenticeships. So how is it possible to trade NFTs!
Binance offers the most advanced features
Still here, Binance remain master. The number of features proves it, with more than fifteen different ways to invest, trade and place your cryptocurrencies. Development remains important, with a platform that never stops innovating and inviting its users to discover these new features.
Binance, Coinbase, who has the best customer service?
New important point, Customer care. Helping a lost customer is a crucial point in order not to switch platforms.
Customer support on Binance
Binance offer help driven by artificial intelligence. However, if the problem persists, you can trade directly with directly a Binance operator. Plus, comprehensive written support allows you to orient yourself if needed.
In the end, Binance it has its own academy, which allows you to know many subjects and thus avoid making serious mistakes.
Coinbase customer support
Coinbase also offers computerized support. And here too, if necessary, it is possible to interact with a platform operator. Many frequently asked questions are available to help you.
Note that part of the Help Coinbase help you learn about blockchain and understand this type of product.
Binance offers the best customer support
Once again, Binance remains the leader. First of all, because the section Binance Academy is truly comprehensive. And it covers all the areas that the user might encounter in his portfolio management, or even more… Coinbase stays much lighter with the section Learn which could be further developed if they want to try to do the same.
Note that the support of Binance remains extremely efficient, and very often allows you to solve a blocking problem for the user in minutes.
Coinbase, Binance the factsheet
Launched in 2012 by Brian ArmstrongCoinbase had how basic idea of allowing anyone to receive bitcoins from anywhere. From, these are more than 103 million users, more than 100 countries and 5,000 employees. In the quarter, volumes of up to $ 217 billion were raised. In the end, $ 96 billion of assets are held by the company.
Found by Changpeng Zhao in 2017, Binance is the cryptocurrency giant. The daily trading volume is around 14 billion dollars. per second, the number of transactions was 1.4 million. The launch of its cryptocurrency BNB will raise $ 15 million.
Who is better between Coinbase and Binance? Our conclusion
To conclude, Binance remains the broker par excellence in the field of cryptocurrencies. A generous number of features, responsive support and commissions close to 0% make it an ideal platform to start and manage your portfolio. Coinbase however, it leads by example with simple ergonomics, greater accessibility for beginners, though its services remain less important than the Chinese giant.