Coinbase Pro VS Binance: Ultimate Crypto Exchange Comparison Guide

Comparison
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General Information

Coinbase ProBinance
Year of foundation20142017
CountryUSAChina
LanguagesEnglish, Portuguese, German, French, Spanish, Italian, DutchEnglish, Portuguese, German, French, Spanish, Italian, Korean, Russian, Traditional Chinese, Simplified Chinese, Dutch, Vietnamese, Turkish, Indonesian, Polish, Ukrainian
Mobile appiOSiOS, Android

User Interface

Coinbase Pro

The platform has an intuitive interface, available only in English. The developers prioritize reliability and availability of functionality, which allows you to start trading immediately after registration without lengthy training. The peculiarity of the exchange can be marked by the approach to the storage of funds: 98% of all digital assets are in cold storage, and only 2% are in use. All user funds are covered by FDIC insurance.

Binance

However, Binance also has an exciting user interface, and it would win without a doubt if we compare it with another exchange. It allows establishing between two configuration modes, one primary and one advanced. Although the basic one may be a bit complicated still for the wholly initiated. However, if we have some experience, it offers a straightforward interface with many features.

Trading Volumes and Traded Pairs

Coinbase Pro

Coinbase Pro trading volume is 165,289,949.0. The exchange has 44 trading pairs available. Fiat trading is not available on the exchange. Margin trading is not available.

Binance

The trading volume of the Binance is 1,023,663,221.0. The exchange has 603 trading pairs available. Fiat trading is available at the exchange. Margin trading is available. Binance has an offer of hundreds of cryptomonkets, some very well known and others relatively new. Some examples are EOS, SALT, Cardano, Gifto, Steem, Lisk, Loopring, NEO, and many more.

Commission

Coinbase Pro

Coinbase Pro uses a differentiated commission model for makers and takers. Traders who place orders pay no commission. For takers, the commission depends on the volume of trading over the last 30 days:

  • Up to $10 million – 0.30%;
  • From 10 to 100 million dollars – 0,20%;
  • Above 100 million dollars – 0,10%.

Binance

Binance charges fees in its tokens Binance Coin (BNB), it is cheaper for users if they want to pay in other digital assets, which still have to be translated into (BNB). Binance offers a flexible system of discounts. The trading volume of the Binance is 1,023,663,221.0. The exchange has 603 trading pairs available. Fiat trading is available at the exchange. Margin trading is available.

Security

Coinbase Pro

Coinbase Pro is an exchange with a high level of protection. Most of the assets are stored in cold-type wallets. The FDIC insures all user assets. If a customer suffers a loss due to hacking and theft, they can recover $250,000 minimum. FDIC pass-through insurance protects funds held in a Coinbase customer’s account and the event of an unexpected bankruptcy of the exchange. To increase the level of protection, users can connect two-step authentication by phone number and email address.

Binance

Both exchanges have a significant security measure, which is the double authentication factor, to protect your account. This is a system where the user has two types of passwords. However, the Binance team works tirelessly to protect user funds from external threats such as hackers. In March of this year, a hacker could steal identification details and tried to steal the exchange. The system was able to detect this problem and stopped him before it was too late. No user lost their funds, and the hacker’s funds were donated to charity.

Pros and Cons

Coinbase Pro

Pros
  • Number of trading pairs
  • Margin trading
  • Age of occurrence
  • Security
  • Insured Funds
  • Ease of use
  • Variety of products
Cons
  • Compulsory and complex verification
  • Not available in all countries
  • High commissions

Binance

Pros
  • Two-factor authentication
  • Popularity of the platform
  • Variety of cryptocurrencies available for trading
Cons
  • Difficult for novice cryptography enthusiasts.
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