As the leading US-based cryptocurrency exchange, Coinbase has a lot of competitors. Some of these competitors are other major exchanges like Binance and Kraken.
Others are smaller exchanges that focus on specific regions or countries.
Coinbase’s main advantage is its size and liquidity. It is the largest US-based exchange and is available in 32 countries. This gives it a big user base and a lot of trading volume.
This makes it easy to buy and sell cryptocurrencies on Coinbase. It also means that Coinbase can offer more features than smaller exchanges.
One disadvantage of Coinbase is its fees. These are higher than some other exchanges, although they are lower for high-volume traders.
Coinbase also has strict limits on how much you can buy and sell per week. This can be frustrating for users who want to trade more frequently.
Binance is a major competitor of Coinbase. It is a global exchange that is available in 180 countries. Binance has lower fees than Coinbase and doesn’t have any limits on trading volume.
It also offers more cryptocurrencies to trade than Coinbase. However, Binance is not available in the US.
Kraken is another major competitor of Coinbase. It is available in 48 countries and offers a wide range of cryptocurrencies to trade. Kraken has lower fees than Coinbase for most users.
It also doesn’t have any limits on trading volume. However, Kraken is not as easy to use as Coinbase and can be confusing for new users.
There are also many smaller exchanges that compete with Coinbase in specific regions or countries. These include Bitstamp in Europe, Coinsquare in Canada, and Bitfinex in Asia.
Each of these exchanges has its own strengths and weaknesses, but all offer lower fees than Coinbase and more cryptocurrencies to trade.