It’s no secret that cryptocurrency exchanges are big business. In 2017, the top 10 exchanges had a combined 24-hour trading volume of over $29 billion. That number has only grown in 2018.
With so much money exchanging hands, it’s no wonder that there is intense competition among exchanges. In this article, we will take a look at two of the most popular exchanges: Binance and Coinbase.
Binance was founded in 2017 and quickly rose to become the largest exchange by trading volume. It is headquartered in Malta and has offices in Hong Kong, Japan, and South Korea. Binance is a crypto-to-crypto exchange and does not accept fiat currencies.
It has over 150 coins listed on its platform and offers trading pairs with all major coins. Binance also has its own native token, BNB, which can be used to pay fees on the exchange or traded for other cryptocurrencies.
Coinbase is one of the oldest and most well-known exchanges. It was founded in 2012 and is headquartered in San Francisco, California.
Coinbase allows users to buy and sell cryptocurrencies with fiat currencies (USD, EUR, GBP) and also supports crypto-to-crypto trading pairs. It offers a limited selection of coins – currently only Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, 0x, and USD Coin – but is widely considered to be one of the most user-friendly exchanges.
So, which exchange is better? That depends on what you’re looking for. If you want a large selection of coins to choose from or want to trade fiat currencies, then Binance is the better choice.
However, if you prioritize ease of use or are looking to buy cryptocurrencies with fiat currencies, then Coinbase is a better option.