Hello, crypto fans! Welcome to the coinbase vs binance comparison review.
In this review, I will tell you about the two largest crypto exchanges in the cryptocurrency market: Coinbase and Binance. I’m going to cover some of what the two really are, what services they offer and how secure they are. Find complete information at the following link “Coinbase vs Binance“, There will also discuss which crypto exchange is the best for novice traders.
The cryptocurrency market is currently worth 250 billion USD. So, if you are thinking of investing with Ethereum, Bitcoin, or Ripple then you are not the only one! Many industries were created to make it as easy as possible for people to buy and sell cryptocurrencies.
Businesses that cover these industries are called cryptocurrency exchanges – crypto exchanges for short.
I will answer important questions like, is Binance safe? What are the limitations of Coinbase? But the first question I ask is can we start now? Yes? Okay!
Before starting to talk about the Coinbase vs Binance review, I’ll cover the respective crypto exchanges and where they come from. I will start with Coinbase.
What is Coinbase?
Coinbase is a brokerage exchange founded by Brian Armstrong and Fred Ehrsam in San Francisco, California in 2012. Exchange brokers buy cryptocurrencies for their customers instead of bringing together buyers and sellers like exchange traders. Coinbase is the largest exchange broker in the market.
In August 2017, Coinbase Has become the first exchange to become a unicorn! No, not a mythical horse! Coinbase is becoming a financial unicorn which is a company worth over 1 billion US Dollars (USD). Brian Armstrong is also ranked number 10 on the Forbes list of the most influential young people in business. Not too bad for a company just six years old, right?
Since its founding, Coinbase has built partnerships with major companies such as Dell, Time Inc, and Expedia. Recently, it was reported that social media giant, Facebook, is interested in buying the exchange! All of this makes Coinbase one of the most legitimate businesses in crypto. But what about Binance?
What is Binance?
Binance is a crypto asset that Changpeng Zhao and Yi He founded in 2017. It is based in Malta although it already has offices in China, Japan and Taiwan. The two founders started their careers in crypto.
Binance is a crypto-to-crypto exchange which means it connects buyers with sellers for cryptocurrency traders. It also owns a cryptocurrency called Binance Coin (BNB). The exchange used the Binance Coin ICO to raise 15 million USD in July 2017.
Note: ICOs are initial coin offerings and are a way for new businesses to raise funds without resorting to more traditional methods such as issuing stocks or bonds
Binance is well known for giving cool prizes to its top traders. In the past, the prizes were Cellphones, Laptops and even Cars! Currently, the team at Binance is looking for partners to form a billion dollar investment fund.
Trading cryptocurrency for the first time can be scary, expensive, and frustrating for beginners! This is why it is so important to choose the right exchange.
Binance and Coinbase are both great options for novice traders. My recommendation is to use both! Start by opening an account with Coinbase. Do some simple trading with Litecoin or Ethereum and then, when you feel ready, move to Binance.
This coinbase vs binance comparison ends on a happy note! It’s fun to share two of the most professional, reliable and user-friendly exchanges on the market.