Whether you’ve already got cryptocurrency holdings or you’re thinking about getting your feet wet in crypto, you may be wondering which cryptocurrency exchange is the right one for you.
Two of the most popular and longest-standing crypto exchanges are Coinbase and Binance. They have a lot of similarities and some key differences. It’s important to choose the right platform for your needs.
In this Coinbase cryptocurrency exchange comparison vs Binance, we’ll compare the two, including contrasting Binance fees vs Coinbase fees, features, security, and the user experience. You might be unsure now, but by the time you’ve finished reading, you’ll know which of these two exchanges is the one most suited to you, outside of just zero fee bitcoin trading.
Binance vs. Coinbase: Features
Examining the features of a cryptocurrency platform before committing to it is a must.
Coinbase
Here are some of the most important features you’ll find if you choose Coinbase.
- A user-friendly dashboard that’s easy to navigate and understand.
- Coinbase Earn, which allows users to stake cryptocurrency and increase their holdings.
- Access to more than 260 cryptocurrencies and 400 trading pairs for more than enough trading volume.
- Ability to buy, sell, transfer, and convert cryptocurrencies.
- FDIC insurance for USD deposits and holdings. (US users only.)
- Free crypto wallet and advanced security measures.
The FDIC insurance is a big deal because not all cryptocurrency exchanges offer it.
Binance
Binance offers an array of features and trading strategies, some of which are not available on Coinbase.
- Ability to trade more than 500 cryptocurrencies and other digital assets.
- Advanced trading tools like futures.
- Wide variety of staking and savings products.
- Access to a robust ecosystem including Binance Smart Chain, a blockchain network where users can create smart contracts.
You’ll notice that Binance users’ deposits are not insured by the FDIC. That’s an important consideration.
Pro Tip:
Sign up today and get $50 of BTC for free after making your first trade on Coinbase!
Features: Coinbase vs Binance
| Coinbase | Binance | |
| Main platform features | Intuitive, user-friendly platform for simple transactions; free digital wallet; flexible payment methods including instant withdrawal, ACH, wire transfers, PayPal, and more | Comprehensive charting options; low trading fees; access to hundreds of cryptocurrencies; withdraw to a blockchain address or your bank account. |
| Trading fees | Trading fees range from 0.05% to 0.60% for taker fees, and from 0.0% to 0.40% for maker fees. Additional network fees may also apply. | Binance charges a base trading fee of 0.10%. Additional fees based on location and size of transaction may apply. |
| # of cryptocurrencies supported | 260+; 400+ trading pairs | 350+; hundreds of other digital assets |
| Security features | 2FA verification; FDIC insurance for USD deposits; cold storage for user assets, fingerprint verification; additional insurance if Coinbase is breached; AES-256 encryption | 2FA verification; cold storage; IP and wallet address whitelisting; API access control and device management; real-time security monitoring |
| Types of transactions supported | Buy, sell, exchange, or transfer cryptocurrencies to outside wallets or to other Coinbase users; cryptocurrency staking | Buy and sell cryptocurrency; limit orders; market orders; stop orders; stop limit orders; trailing stop orders; peer-to-peer trading; margin trading; and more |
| Maximum trading | Amounts vary based on the cryptocurrency purchased | Amounts may vary based on region and payment method |
Supported Cryptocurrencies
One major consideration when choosing a crypto exchange platform is whether you’ll have access to all the cryptocurrencies and digital assets you want to buy.
Coinbase
Coinbase offers users access to many of the world’s most popular crypto coins, including:
- Bitcoin
- Ethereum
- Doge
- Solana
- Cardano
- Shiba Inu
- Stablecoins including USDT
In total, as of December 2024, users can trade 267 cryptocurrencies and 417 trading pairs on the Coinbase Exchange. You can view a full list of available trades by visiting the Coinbase Exchange page.
Keep in mind that some coins may not be available in every location. Coinbase offers high-quality cryptocurrencies and emphasizes those that prioritize regulatory compliance.
Binance
Binance currently supports over 400 digital assets, including an array of altcoins. Here are some examples:
- Bitcoin
- Ethereum
- Litecoin
- BNB (Binance’s own cryptocurrency)
- USDT
Binance offerings may vary based on your location. You can find a list of available currencies and trading pairs on their website. They have a more diverse list of emerging assets than Coinbase and more trading options, as we’ve already noted.
Pro Tip:
Sign up today and get $50 of BTC for free after making your first trade on Coinbase!
Fee Structures
Examining fee structures is essential. You’ll need to know how much you’ll pay for transactions before you fund your account. Here’s how Binance vs Coinbase fees compare.
Coinbase charges per transaction. They could be more transparent about their fee structure, but what they say is that they pay network fees for transfers off and on Coinbase, which they pass onto users. They set a spread to allow for price fluctuations during the transaction and trading fees range from 0.00% to 0.60%. Other fees may vary depending on the amount of your transaction, which coin you’re buying, and your geographical location. Transactions completed with a credit or debit card incur additional fees. All fees are disclosed at the time of the transaction and you always have the option to back out.
Binance starts with a base trading fee of 0.10%. Free trades are available on some Bitcoin pairs. Additional fees are calculated based on several factors, including your rolling 30-day trading volume. You can find their full fee structure here
Deposit and Withdrawal Fees
Now, let’s look at Coinbase vs Binance withdrawal fees. Coinbase has zero-fee ACH deposits and charges $10 for wire deposits. Withdrawal fees vary based on the withdrawal method. For example, ACH withdrawals are free, and wire withdrawals are $25.
Binance deposits are free. Their withdrawal fees are less transparent and vary based on several factors, including the cryptocurrency being withdrawn and network conditions.
User Experience
User experience is a critical consideration when choosing a cryptocurrency exchange.
Interface and Usability
Here’s our comparison of Coinbase vs Binance usability.
Coinbase has a simple and streamlined interface that’s suitable for beginners. Its user-friendly dashboard makes it easy to open an account, transfer funds, and make crypto trades. There’s not much of a learning curve.
Coinbase also has a mobile app, and the user experience is just as good on the app as it is on the website. Overall, we think that Coinbase is designed to be easy to use.
Binance has a more advanced trading interface, so there is more of a learning curve required for new users. Part of the usability issue relates to the more complex trading options that are available.
Like Coinbase, Binance has a mobile app. Their app accurately reflects the web experience, in that it offers comprehensive features and may require some learning before new users feel comfortable with all of its features.
Pro Tip:
Sign up today and get $50 of BTC for free after making your first trade on Coinbase!
Customer Support
Customer support is robust on both Binance and Coinbase.
On Coinbase, users can get support in several ways. There’s a well-designed and extensive help center where users can search by topic and find guidance on a wide array of issues. They can also get chat, phone, and email support 24 hours a day.
On Binance, there’s an FAQ to answer many common questions, plus a self-service dashboard. You can also get support via live chat or submit a support ticket. They make a point of saying they offer multilingual support.
Security Measures
Security for crypto traders and their holdings is a must for any crypto exchange platform.
Coinbase
Coinbase stores 98% of users’ funds and holdings in cold storage. As we’ve already mentioned, there’s FDIC insurance for USD balances up to $250,000 for US residents. They also carry crime insurance which protects cryptocurrency holdings from breaches in Coinbase’s security. It’s important to note that cryptocurrency holdings are not insured by the FDIC and Coinbase’s insurance won’t cover you if you give out your password, despite robust security measures.
Additional security measures include two-factor authentication, fingerprint logins, and end-to-end encryption for all transactions.
Binance
The global Binance platform also holds the majority of users’ funds in cold storage. Deposits are not insured by the FDIC, but they do have a Secure Asset Fund for Users (SAFU) to protect some of users’ assets.
Other security features include two-factor authentication, withdrawal address whitelisting, device management, and real-time security monitoring.
Additional Features
There are a few additional features that we haven’t reviewed yet.
Coinbase
Additional perks you’ll find on Coinbase include these.
- Coinbase Earn: Information about how to earn money with cryptocurrency, including how to stake cryptocurrency.
- Staking Services: A Coinbase service where you can stake selected cryptocurrencies for short- or long-term earnings.
- Coinbase Card: A Visa debit card that’s linked to your Coinbase account and may be used for deposits and withdrawals.
With a free account, you can use all of these services, and they’re also available with paid accounts including Coinbase One.
Binance
Here are some extra perks that you’ll get with Binance.
- Binance Earn: Savings and cryptocurrency staking options.
- Advanced Trades: Futures trading and other types of special trades.
- Binance Card: A Visa debit card with cashback rewards that you can use to fund your account and transfer Bitcoin.
These features are all available with a free Binance account as well as with related services including Binance Options.
Pros and Cons
Finally, let’s review the pros and cons of each platform to help you make your decision.
Coinbase
Pros:
- User-friendly platform
- Suitable for beginners
- FDIC insurance for USD deposits
- 2FA, cold wallet, and state-of-the-art encryption
- Regulatory compliance
Cons:
- Fewer cryptocurrencies than Binance
- Simple transactions only
- Fees could be more transparent
- Fees are higher than Binance
Binance
Pros:
- Extensive cryptocurrency offerings
- Advanced trading options including futures and margin trading
- Low fees when compared to Coinbase
Cons:
- Complex interface may be tricky for beginners
- No FDIC insurance
- Regulatory scrutiny in some regions
Final Verdict: Coinbase or Binance?
That’s our review of Coinbase vs Binance. Our final take here is that if you’re someone who isn’t an experienced crypto trader or you’re just looking to diversify your portfolio with cryptocurrency, Coinbase is the right platform for you. It has plenty of coins available for trading, protection in the form of FDIC and private insurance, and a simple interface that’s ideal for new traders to use and learn about crypto trading.
On the other hand, Binance is ideal for intermediate or advanced traders who already have some experience buying and trading cryptocurrency. These users are likely to already understand different types of trades and be eager to increase their crypto holdings with things like futures and margin trading.
