Binance is the world’s largest cryptocurrency exchange by trading volume. Coinbase is the world’s most popular cryptocurrency exchange.
Both exchanges offer a variety of digital assets and are considered to be generally safe. However, there are some key differences between the two exchanges that may make one or the other more appealing to certain users.
Binance is headquartered in Malta and was founded in 2017. Binance is a centralized exchange, which means that it takes custody of its users’ funds. Binance is also one of the few exchanges that offers margin trading.
Margin trading allows users to trade with leverage, which can result in greater profits but also greater losses. Binance has been hacked in the past, but it has since implemented a number of security measures, such as two-factor authentication and cold storage for user funds.
Coinbase is headquartered in San Francisco and was founded in 2012. Coinbase is a decentralized exchange, which means that it does not take custody of its users’ funds.
Coinbase only offers spot trading, which means that users cannot trade with leverage. Coinbase has never been hacked, but it has been subject to a number of outages due to high traffic.
So, which exchange is safer? It depends on what you’re looking for. If you want an exchange that offers margin trading and takes custody of your funds, then Binance may be a good choice.
If you want an exchange that doesn’t take custody of your funds and offers spot trading only, then Coinbase may be a better choice.