Centralized cryptocurrency exchange platforms have been on the rise this year 2018. The explosion in the price of Bitcoin highlighted this, at the time, obscure medium that blockchain represented to the general public. Focus on two giants whose rivalry fuels continuous improvement of their services.
Coinbase vs Binance: site ergonomics, application and ease of use
For the maximum number of new users to join the platform, Binance and Coinbase should make using their tool as simple as possible. It is a complicated exercise because you have to know how to manage between them highlighting all features of the platform and avoid screen saturationin danger of drowns the user in an information overload…
Our take on Binance ergonomics
Binance is definitely the most comprehensive platform in terms of available tools. Which also does this most importantly visually. Connecting with Binancethe user is sent to home page with an overview of his portfolio.
Several drop-down menus are visible at the top of the screen. And give access to multiple submenus. The novice user will have to take their time during the first few uses to find their way around this space. !
Note that on mobile, there is Binance Litemore clean and easy to use.
Our take on Coinbase’s ergonomics
Coinbase is very simple in terms of ergonomics. First of all, its homepage has been cleaned of all parasitic information. And only important information is displayed. The menu on the left also goes to the simplest and offers, in a word, category that the user can and will use.
of The great advantage of Coinbase is that it offers at a glance to access the desired menu. A drop-down tab is even present at the top right of the screen, allowing you to find all the “advanced” tools the user might need. Also, using a simple graph, it allows you to see the evolution of your assets in real time, in several degrees, from the last hour, to the genesis of the account.
The best user experience is at Coinbase
Coinbase is the better of the two platforms in terms of usability. This of course produces fewer tools than Binancebut of one the ergonomic perspective varies greatly.
First because of the main screen list allows access to one click at the desired location. But also because more “simple” words are used.. Example with ” exchange “for Coinbase which takes you to a page with a list of available cryptocurrencies. ” commercial “for Binance shows a drop-down menu with seven options available… This is just one example that has its own importance, capital, for the choice of a beginner user in this world.
Coinbase vs Binance: Platform Fees
Here again, a crucial topic for an exchange platform. Transaction Fees are important when choosing a broker. The user will be more likely to go to the highest bidder, so the platform that will offer the lowest rates.
Fees at Coinbase
asset Coinbasethe rates are fixed. They increase at a height of 1% for each transaction made. This applies to procurement of cryptocurrencies at the market pricehow much for limit ordersbut also for withdrawals to addresses outside the account.
Regarding advanced trading, it all depends on the amount traded. The greater the trading volume, the lower the costs.
Share fees depend on cryptocurrency that is put into play. Thus, it is possible for some cryptocurrencies to work directly on Coinbase for one stock fees.
Fees on Binance
asset Binancethey fees vary for all services.
For cryptocurrency deposits and withdrawals, fees are specific to each cryptocurrency. An exhaustive list includes these cryptos and the fees associated with their withdrawals.
The lowest fees are on Binance
Binance is definitely the most favorable trading platform. Withdrawals, derivatives and spot trading, stocks, all fees are well below what Coinbase can offer.
The fact thatthat Binance offers a reduction in fees using its own cryptocurrency adds an additional advantage.
It should also be noted that some weeks are exempt from trading fees. In the month of September, Ethereum trades were at 0% brokerage fees on Binance… And other reductions are highlighted regularly. Their policy is very aggressive at this point.
Binance or Coinbase: Which offers the widest variety of crypto assets?
A centralized platform is needed group together many products and cryptocurrencies to meet the needs of as many customers as possible. here again, Binance withdraws from the game.
This ranking and the number of cryptocurrencies continues to growwith the Chinese giant’s constant search and desire to expand.
The American platform continues to expand. In April, 50 cryptocurrencies were listed. today, the total number exceeds 150 cryptocurrencies.
Coinbase trying to bridge the gap growing your list of the largest capitalizations in the cryptocurrency market. In particular, it makes it possible to respond to the need of a larger part of the community. It makes it possible to highlight projects followed by a large number of people to get new users who will stay loyal to the platform !
Binance offers the largest diversity of cryptocurrencies
It is clear Binance and its much more comprehensive list of cryptocurrencies that benefit at this point. The fact that this giant adds a significant amount of cryptocurrency, and this regularly, allows it to stay ahead and to attract new clients who wish to invest in a specific project.
Binance or Coinbase: Which offers more features?
Although buying a cryptocurrency is the simplest investment, many other features allow you to profit from cryptoassets, in a very different way from a simple transaction.
Features on Binance
asset Binance, many features are available. It is possible to deployment of cryptocurrencies and stablecoins. of Challenges was also introduced to take advantage of more attractive returns, through Liquidity Pools, although the risk is greater.
Also, trading is not left out Futures contracts which allow you to trade with high leverage (up to x125).
Leveraged tokens, BNB Vault, Binance Pool and NFT are other key features.
Features on Coinbase
Coinbase also offers similar features here. It is possible to certain crypto-asset shares. The advantage is that these remain available and can be withdrawn or exchanged at any time.
Recently, Coinbase offers, via Coinbase Promargin trading and the ability to integrate APIs if the user wants.
In addition, it is possible to earn some dollars in the form of cryptocurrencies, from after the lesson. Just as it is possible to trade NFT!
Binance offers the most advanced features
here again, Binance remain masters. The number of features proves this, with more than fifteen different ways to invest, trade and invest your cryptocurrencies. Development remains important, however a platform that never stops innovating and which invites its users to discover these new features.
Binance, Coinbase, who has the best customer service?
New important point, customer support. Helping a lost customer is a crucial point so that they don’t switch platforms.
Binance Customer Support
Binance offer help powered by artificial intelligence. However, if the problem persists, it is possible to exchange directly with a live Binance operator. Also, a full written support makes it possible to meet there when necessary.
Finally, Binance has its own academywhich allows you to learn about many subjects and thus avoid big mistakes.
Coinbase Customer Support
Coinbase also offers computer controlled support. And here, if necessary, it is possible to interact with a platform operator. many Frequently asked questions are available to assist the user.
Note that part of Help Coinbase helps to learn about blockchain and understand this type of product.
Binance offers the best customer support
Again, Binance remains the leader. First of all because the section Binance Academy is truly complete. And it covers all areas that the user can encounter the management of his portfolio, or even more… Coinbase it remains much easier with the section Learn which can be developed further if they wish to try to do the same.
Note that the support of Binance remains extremely efficient and very often makes it possible to solve a blocking the problem for the user in just a few minutes.
Coinbase, Binance data sheet
Starting at 2012 by Brian ArmstrongCoinbase had both the basic idea of making it possible for anyone to get bitcoins from anywhere. Since, these are more than 103 million users, more than 100 locations and 5,000 employees. During the quarter, volumes increased to $217 billion. Finally, $96 billion in assets are held by the company.
Founded by Changpeng Zhao in 2017, Binance is the cryptocurrency giant. The daily trading volume is approx 14 billion dollars. per second, the number of transactions reaches 1.4 million. Launching its own cryptocurrency BNB will increase 15 million dollars.
Who is better between Coinbase and Binance? Our conclusion
To finish, Binance stay broker par excellence in the field of cryptocurrencies. A generous number of the features, responsive support and close to 0% fees make it an ideal platform to start and manage your portfolio. Coinbase however, it provides an example with simple ergonomics, greater accessibility for beginners, though its services remain less important than the Chinese giant.
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