Choosing the right platform to buy or trade cryptocurrencies is not easy. Do you hesitate between Coinbase and Binance? In that case, you couldn’t be better off. We have indeed taken the time to test and compare both services on the aspects we consider most important. Discover our Binance or Coinbase comparison, which we hope will help you make the right choice according to your expectations.
Binance vs Coinbase: who offers the most diversity of cryptocurrencies?
The first point we thought it would be a good idea to address in this comparison between Coinbase and Binance is the diversity of digital assets offered. Who allows you to buy the largest number of cryptocurrencies? And who lists new assets more regularly? Answers are in the following.
Whether you’re looking to invest in cryptocurrencies that you think are unfamiliar and promising, or you’re keen to buy Bitcoin or Ether, Binance has everything you need. In total, you will find several hundred different digital assets. So please understand that it will be impossible for us to make a detailed list in this duel.
Although it already offers a large number of cryptos, Binance does not stop there. This online broker regularly adds new projects, and this well before most of its competitors. This means that by choosing this platform, you will often be one step ahead of other investors.
Does Coinbase measure up to Binance when it comes to the number of cryptocurrencies available for investment? Not really in our opinion. The choice is much less impressive than with its competitor. Now you will still find quite a few cryptocurrencies, more or less popular (Bitcoin, Ether, Solana, Avalanche, Polkadot, etc).
It’s just that according to our own experience, Coinbase takes several months before offering cryptos that you can find at Binance for example. Also, some popular cryptocurrencies are still waiting to be released. For example, it is not possible to buy the crypto of Terra, Luna, or Ripple.
Binance is the big winner in this first part of this comparison against Coinbase. It has to be said that there is simply no cryptocurrency buying platform that offers a greater diversity of assets than Binance. By opting for the latter you will have access to hundreds of digital assets.
Most importantly, you’ll have the opportunity to invest before a lot of people on new cryptocurrencies that have been released recently. We really regret the fact that Coinbase doesn’t offer some of the most popular cryptocurrencies on the market… and that it can take a very long time to see new assets listed.
Fees: Coinbase or Binance?
Being able to invest in quite a few cryptocurrencies is great. Now it’s even better if every time you make a transaction, you don’t have to pay exorbitant fees. We’ll let you find out which of Binance or Coinbase is more interesting in this respect.
Binance is the ideal platform if you feel like investing in cryptocurrencies without breaking the bank. Because yes, it can be extremely expensive to buy crypto depending on the platform you are going to choose.
This is not the case with Binance. Indeed, the fees when buying and selling digital assets will not exceed 0.1% of the total transaction. This is more than negligible in our eyes. You’ll understand why we say this when you read the next paragraph, which will be dedicated to the presentation of Coinbase’s fees.
Coming back to the Binance fees, you should know that although they are already relatively low, it will be possible to lower them even more. To do so, you’ll need to have a large trading volume… or you’ll simply have to buy BNB tokens, the online broker’s own cryptocurrency. We can say this after testing quite a few different platforms, none offer fees as low as Binance.
How does Coinbase compare to Binance when it comes to fees? Well, the American platform is very good in this comparison. It must be said that the fees charged are very high, especially if you don’t intend to use its Coinbase Pro platform (more complex and reserved for a more informed public).
You will indeed have to deal with 1.49% fees on every crypto purchase or sale. But that’s not all. If you intend to exchange a cryptocurrency “X” for another one, “Y”, you will have to pay a fee amounting to 2%. This will be very expensive in the end.
Even worse, there is a fixed minimum fee for small purchases (under 200€). For example, you will have to pay a €1.49 fee for a crypto purchase between €10 and €25. So, our opinion about Coinbase and its fees is very bad. For the second time since the beginning of this duel, Binance wins hands down against Coinbase. It has to be said that the latter charges very high fees, especially if you don’t use its “Pro” version.
The difference in transaction fees (for buying and selling cryptocurrencies) is colossal: 0.1% maximum at Binance versus 1.49% at Coinbase. These fees may seem low to some… except that when you are going to invest large amounts or actively trade, it will quickly weigh heavily in the balance. So don’t overlook this aspect in your final decision.
Binance vs. Coinbase: comparison of features
This Coinbase vs Binance comparison would not be complete without mentioning the features offered by these two brokers specialized in cryptocurrencies. In the following we will review all the features and possibilities offered by these two platforms. You will see that it is possible to do much more than just buy and sell cryptocurrencies.
In our opinion, Binance is the ideal platform from a functional point of view. It is difficult to find a service as complete as theirs. It must be said that the reputation of this platform was partly built around the innovations and new features offered. After creating an account on its platform, you will have the ability to:
- Buy and sell crypto
- Actively trade digital assets (with leverage if you wish – but be careful)
- Store your cryptocurrencies
- Save your investment to earn interest
- Make a loan
- Buy and sell NFTs
- Participate in the launch of new projects before anyone else (thanks to Launchpad Binance)
Order and use a bank card to pay in crypto. It is also very nice to find a cryptocurrency specific to the Binance ecosystem: the BNB. This token is useful in many cases, which will encourage you to look at all the possibilities available to you.
Coinbase does its best to offer a lot of features to its customers. Now we have to admit that the American platform can’t keep up with its competitor, Binance. You will have access to fewer features. That being said, you will find the essentials:
- Buying and selling cryptocurrencies
- Trading via the Pro version of Coinbase
- Possibility to borrow
- Staking cryptocurrencies (savings product)
Note, however, that the bank card that may be promoted by Coinbase on its site, is not available in France. This is also true in many other countries, which is a shame. We also regret very much the absence of a Launchpad function to participate in the launch of new cryptocurrencies. The fact that Coinbase doesn’t offer a platform-specific token that offers the possibility to reduce fees, participate in exclusive deals, etc., is also a drawback.
When comparing the features offered by the two platforms, it is clear that Binance is ahead of Coinbase. So this is a third consecutive victory for Binance in this duel. Having followed the evolution of both services over the past few years, there is no doubt that Binance is always at the forefront of innovation. So if you have a desire to do more than just trade cryptocurrencies, then this is the perfect choice for you. You will love the Launchpad feature, the ability to order a bank card to pay for your crypto purchases, etc.
Conclusion: which platform to choose from Binance or Coinbase?
If you’ve been reading this Binance vs Coinbase duel carefully, you’ve seen that a clear winner has emerged. Winning the categories of “Cryptocurrency Choice”, “Fees”, as well as “Features” by a wide margin, Binance proves to be the better crypto platform in comparison to Coinbase.
It has to be said that the American platform Coinbase only managed to glean one win in the “Application and User Experience” aspect and had to settle for two draws in the “Security” and “Customer Support” categories.
According to our experts, there is no contest: Binance is above Coinbase. You will find many more cryptocurrencies (including many promising ones), you will have access to a larger number of features, and above all the fees that will be taken by the Binance platform will be more than 10 times lower than those taken by Coinbase.