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A large number of cryptocurrencies (digital money) now make us anxious to choose a fake exchange. Investors around the world are eager to keep up with digital money developments and many companies are joining the crypto world to support digital currency exchanges.
Although they call themselves exchanges or exchanges, from an investor’s point of view, they function the same as e-brokers. This money exchange company will rise rapidly as more people are willing to join the cryptocurrency. These exchanges allow consumers to buy, sell and trade cryptocurrencies.
Two of the biggest crypto exchanges in the cryptocurrency market
Both Binance and Coinbase are two major cryptocurrency exchanges, known to crypto enthusiasts for their exemplary trading services and reputation. Both platforms have been around for several years, with some of the best management teams in the crypto world.
There are two categories of crypto exchanges:
Fiat money to crypto. Example: Coinbase
Crypto to crypto. Example: Binance
Fiat money to crypto
Founded in 2012, this company is a reliable wallet, exchange, and trading place. They only accept reputable fiat money like GBP and USD.
Coinbase is arguably the father of all cryptocurrency exchanges as almost all exchanges follow the Coinbase structure. Coinbase is also handy as it lets you buy digital currency via credit/debit card.
You can buy cryptocurrency on Coinbase via following these easy steps:
Register on Coinbase.
Complete photo ID verification.
Go to the payment methods page.
Click + Add Payment Method on the right.
Select Card and add a credit/debit card.
Enter the amount transacted in the Coinbase app.
Crypto to Crypto Exchange
Binance now needs no introduction as it has dominated and held the crypto industry. This exchange is good for both beginners and experts.
Moreover, you will never face any liquidity issues while using Binance as they are always in the top 5 on CMC by volume. They also support over 130 coins and process over $1 billion in transactions 24 hours a day.
Moreover, if you use their native BNB token while trading, you can have up to a 50% discount on your trading fees, which is a huge amount if you want to become a full-time crypto trader.
The sooner you get started through BNB, the more you will save in the long run. They have the most advanced and easy-to-use mobile app to trade cryptocurrencies on both Android and iOS. Frequently trading here is very good because the Bitcoin trading volume here seems large.
If the Bitcoin trading volume is large, it means that a lot of people are trading here. At the time of Binance’s release, they focused more on ICO listings and placing Bitcoin at the broker.
By 2020, they have service to all Bitcoin users. Leverage and margin for intra-day BTC traders, available. Saving BTC for “farming” also exists (lending). So complete, in fact, according to inside info, Binance will integrate a local bank with the broker.
Binance and Coinbase are sound platforms for up-and-coming and experienced crypto traders. Coinbase is a gorgeous preference for novices searching for rapid entry to mainstream crypto assets, such as Bitcoin or Ethereum. Binance, in turn, provides a variety of altcoins with low trading fees. This works best for those who are already equipped with some knowledge of crypto. In the end, there is no winner in our binance vs coinbase combat as it all relies upon personal preference.