Binance vs Coinbase Pro | Which one is better? - page 2.

mk4

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Quote from: sheenshane on October 22, 2019, 12:04:43 AM

- Collect users data such as IP addresses

To be fair, I'm pretty sure every exchange does it for security reasons; as for them to get notified if your account was logged in from an IP address of a different country. A better 'con' for Binance is that they're in a sort of gray area in terms of regulations; hence Binance has different versions(e.g. Binance(international), Binance Jersey, Binance US).

sheenshane

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As I can see here more replies were in favor of Binance exchange compared to Coinbase pro. I personally choosing Binance because of no KYC/AML implementation if you are in a small amount trader. I can use my trading bot tools in Binance and that perfectly works for me.

Here are my personal Cons and Pros in Binance.

Pros:
- Having a good reputation
- Easy to use UI especially newcomers.
- Listed over a hundred kinds of cryptocurrencies
- Low transaction fees (Withdraw and Deposit)
- They support and avail many languages
- Having a great reward for affiliate

Cons:
- App version is difficult to use
- Collect users data such as IP addresses

novaprime

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Quote from: ReiMomo on October 21, 2019, 12:28:27 PM

Binance is far away from Coinbase, obviously traders choice is Binance. A high volume of coins and more coins to trade that what traders looking for not just only a one in a time withdrawal fee because you are preferred by the fee. Even though Binance has experienced hacking incidence I will still prefer to use this exchange site because I did not see better than this and Coinbase is nothing compared to Binance.

I prefer Binance because it is a very easy to use exchange and does not require users to implement KYC so this exchange is a good choice for everyone. I have been using this exchange for over 2 years now and everything is great here. Binance does not need to be highly ranked at CMC but everyone knows this exchange has the highest trading volume in this market and can trade at any time if you like.

Battareus

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Quote

For education purposes, much better if you will suggest to newbies to test Binance to feel much the experience of doing trades. Volume-wise, those newbies will feel the pressure on Binance compared to Coinbase Pro.

It seems to me that contrary, beginners need to start with less loaded of information exchange which is useless (for a beginner). To begin with he must learn to consider the price change for a selected period of time, to understand how profitable it is or not to engage in cryptocurrency trading. Only then learn to use technical analysis, moving averages, japanese candles, and so on. Coinbase have a regular line chart that does not scare a beginner. There is nothing good in scaring away newcomers from trading, someone must brings profit to the market=)

harizen

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Quote from: cryptomarketyourself on October 21, 2019, 10:04:48 AM

Do you guys have a preference? I'm leaning towards binance because I know what I'm doing but I might suggest newbies coinbase pro to begin with...

For education purposes, much better if you will suggest to newbies to test Binance to feel much the experience of doing trades. Volume-wise, those newbies will feel the pressure on Binance compared to Coinbase Pro.

However, it's more convenient to deposit funds on Coinbase especially to their supported countries but it doesn't mean depositing in Binance is a hassle.

We have different preferences here but since TRADING is the main purpose (I will assume), Binance is a good choice. No need to undergo KYC which will make newbies confident during their early phase of doing trades.

ecnalubma

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Theyre both good in my opinion but when in terms diversity I choose Binance with wide variety and pretty high volume while coinbase has very limited choices of coins to trade. I think Coinbase could have been bigger than Binance if they keep on adding new coins long time ago, maybe because of tight regulation thats why they are afraid to do so.

mk4

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Quote from: WatchMaker on October 21, 2019, 03:44:25 PM

Binance is a more advanced cryptocurrency exchange compared to Coinbase Pro as Binance has more cryptocurrencies to trade.

Not saying that Coinbase Pro is superior to Binance(because I have no idea what's going on in their back-end software), but more coins =/= more advanced.

Quote from: WatchMaker on October 21, 2019, 03:44:25 PM

Coinbase Pro is a very small cryptocurrency exchange with fewer crypto trading pairs compared to Binance. Binance trading volume almost triple the Coinbase trading volume.

Coinbase Pro has a lot less trading volume compared to Binance(obviously, because Binance supports a lot more coins/tokens), but Coinbase Pro is definitely not a "very small" cryptocurrency exchange.

WatchMaker

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PUFFY FINANCE

Binance is a more advanced cryptocurrency exchange compared to Coinbase Pro as Binance has more cryptocurrencies to trade. Coinbase Pro is a very small cryptocurrency exchange with fewer crypto trading pairs compared to Binance. Binance trading volume almost triple the Coinbase trading volume.

ReiMomo

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Binance is far away from Coinbase, obviously traders choice is Binance. A high volume of coins and more coins to trade that what traders looking for not just only a one in a time withdrawal fee because you are preferred by the fee. Even though Binance has experienced hacking incidence I will still prefer to use this exchange site because I did not see better than this and Coinbase is nothing compared to Binance.

ChrisPop

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Personally I prefer Binance because they have such a wide range of altcoins and good liquidity + an ecosystem built around them. I like the design of Binance and their branding more as it resembles with the Byzantium Empire that represents wealth and abundance. They are also the biggest altcoin exchange there and just added futures trading with more leverage than you can find on margin trading focused platforms like Bitmex, Deribit or Bybit. On the other part it is very cool that Coinbase offer 0% maker fees so if you are doing market making, CB should be a much more appealing option.

sujonali1819

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Binance is best to my end. Because I can use this exchange without kyc and lots of project are listed here. On the other hand I not able to trade on coinbasw pro and it has not trading pair like as binance.

mindrust

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Anything is better than coinbase unless it is outright a scam which coinbase is pretty close to be one. If you compare these two only, binance by far better than scambase. Coinbase is a paranoiac US bank. If you want to be tagged by the US government agents, use coinbase.

ufaiz50

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Quote from: cryptomarketyourself on October 21, 2019, 10:04:48 AM

Cool side by side analysis that I found:

https://cryptotradernews.com/investing-trading/coinbase-pro-vs-binance-a-side-by-side-comparison/

Do you guys have a preference? I'm leaning towards binance because I know what I'm doing but I might suggest newbies coinbase pro to begin with...

Because I trade more often, so I prefer binance because it has more spot crypto markets. in various things written in the article, Coinbase Pro is indeed preferred by old users. disadvatages and advantages of binance and coinbase pro, it is very true and I agree with that article.

mk4

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Quote from: milewilda on October 21, 2019, 10:41:28 AM

I dont have much experience on using up Coinbase pro but pretty sure that they are much more heavily regulated.

Definitely. You don't even have to do research to come to a conclusion that Coinbase is a lot likely to be more regulated compared to Binance. Coinbase is operating in the United States which is obviously a lot stricter with it's laws, whereas binance had to hop countries and ended up in Malta for them to be able to continue operating.

https://support.coinbase.com/customer/en/portal/articles/2689172-coinbase-regulatory-compliance

timcook

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Like the article said - If you're starting out coinbase is easier to navigate. Binance can seem a bit intimidating as it offers more tools to use.

milewilda

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Quote from: mk4 on October 21, 2019, 10:34:19 AM

Binance if you trade a wide variety of cryptocurrencies.

Coinbase Pro if you only trade a small number of cryptocurrencies(Coinbase has like 20+ in contrast to Binance's hundreds). The advantage of Coinbase is that it's more regulated hence a scamquit sort of move is a lot less likely to happen.

Regardless of choice, do not store funds on exchanges unnecessarily. Why? Because this: https://cryptosec.info/exchange-hacks/

Good differentiating among the two.I dont have much experience on using up Coinbase pro but pretty sure that they are much more heavily regulated.
For those people who dont like to be tied in the neck for too tight then better choose up Binance but for those who doesnt even care about it then they can choose Coinbase
but as mentioned when it comes to selection of coins to be traded then its clear on whose much better with this aspect.

bobsav2121

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To be honest if you try out the whole BNB experience you'll realize tht Binance's fees aren't that bad. Plus binance offers many more coins to trade from.

bassbity

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I have never used Coinbase Pro exchange, often what I use for day-to-day, yes Binance, I'm already comfortable in the Binance exchange, so to compare I prefer Binance.

mk4

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Binance if you trade a wide variety of cryptocurrencies.

Coinbase Pro if you only trade a small number of cryptocurrencies(Coinbase has like 20+ in contrast to Binance's hundreds). The advantage of Coinbase is that it's more regulated hence a scamquit sort of move is a lot less likely to happen.

Regardless of choice, do not store funds on exchanges unnecessarily. Why? Because this: https://cryptosec.info/exchange-hacks/

marketingnerd

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If you're just starting out then do coinbase - but you're soon going to notice the limit of coins.

Topic: Binance vs Coinbase Pro | Which one is better? - page 2. (Read 541 times)