The Verdict: Binance or Coinbase?
There’s no such thing as a perfect crypto exchange, but some are going to be a better fit for you than others.
Objectively, Binance is more reliable based on our criteria above.
What We Really Like on Binance
Very fast, easy to use interface
Binance offers extremely low transaction fees
One of the most trusted brands in crypto
What We Don’t Like on Coinbase
Higher fees than competitors
Undoubtedly, COINBASE has long been an established and reputable name in the cryptocurrency exchange and trading world and has built on its leading position to further expand its popularity. This has rendered it a very appealing first choice, especially for casual users or first timers, who simply want to buy some crypto for the novelty of the endeavor and out of curiosity. Having said that Coinbase exchange does pose certain disadvantages and limitations, the main ones pertaining to the following:
- The structure and height of Coinbase Fees
Though few can argue that Coinbase is a trusted and easy to use venue for buying crypto, its fee structure has often been at the root of many user complaints. Moreover, there is also a general sense that the fees charged, especially withdrawal fees, may well be considered as exorbitant. Counting on its popularity and leveraging on it, Coinbase maintains high fees simply because it can do so.
- Very strict and rigorous monitoring
In fact, since Coinbase questions how its users use their funds, there have been reports of Coinbase accounts been forcibly closed when clients were found to be using their crypto for online gaming, gambling, and escort services. The extensive anti-fraud policies and practices employed by Coinbase often frustrate its users, especially since, even if they don’t have any sinister intention on how to spend their funds, they still have to wait for days before they can move their crypto to non-custodial wallets.
- Lack of Availability and Variety
Coinbase does not fare greatly in this regard, since it only serves a few dozen countries. Therefore, you may well be forced to look for alternatives to Coinbase, simply because it doesn’t serve your location or country of origin. Moreover, Coinbase is also criticized for lacking an adequate variety and diversity when it comes to the crypto currencies it offers, which are mostly limited to the most popular and widespread ones.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Crypto Exchange based on your precise requirements here.