A comparison of the top two cryptocurrency exchanges


Posted October 1, 2021 by atozcrypto

Out of all the cryptocurrency exchanges, we are handpicking two, Binance and Coinbase. We have discussed their pros and cons.

 
The UK, 30th September: Today, we will be discussing only two cryptocurrency exchanges from the Top Cryptocurrency Exchanges list, Binance, and Coinbase.

First up, we have Binance, whose user base is up to 15 million (and counting). The company is originally situated in Hongkong, but it has several regional branches in different parts of the world.

If we look at the per capita data, the trading volume is quite robust. And it's not that, it just sprouted one day, it's been operating for years. The trading fees and the minimum account balance are quite low. One can link their bank account with their exchange account.

It does not take much time to create an account here, after the verification process. However, this process can be quite hectic, and people can encounter issues with it.

It comes with numerous cryptocurrency coins, and also offers other services. You can be an inactive participant, but don't have to worry about paying fees for that.

After reaching a certain amount, one can start withdrawing from the account. The problem is you cannot access it completely from the USA. Yes, a subsection of the website is available, but it does not offer the same facilities.

And yes, some also complain about the lack of transparency and structure after using Binance's services. And you can see that it's true to some extent after going through the recent news articles. Considering all the points, we would say it's a 'four out of a five' situation.

We have a lot to say about our second option Coinbase. It's one of the largest exchanges to operate to date, that's number one.

It's based out of the US and complies with most rules and regulations. You need to have a minimum of $2 balance in your account to be an eligible candidate.

It does not apply any unnecessary charges. Promotional elements are not applicable at the moment.

It has several pros, and we will discuss them one by one. First, it offers extensive support for more than 50 cryptocurrencies. Second, it's incredibly secure.

The only con; ( we can think of) is that the charges can be extremely high. We would give it a 4.7 rating out of 5. Both of these can be excellent choices, but you need to select one accordingly.

Hopefully, this description of their pros and cons can help you decide the right one for yourself.
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Last Updated October 1, 2021