It’s clear that the fees are cheaper on Binance. The 0.1% for buying and selling is way cheaper than the $3 fee for transactions over $200 on Coinbase.
If you want to deposit with a credit card on Coinbase, you’ll need to pay a 1.49% to 3.99% transaction fee, depending on the size of the transaction. The platform’s high fees are one of the reasons why so many traders are looking for Coinbase alternatives.
Does Binance Offer a Secure Platform?
Yes, Binance offers a secure platform, and has never experienced a hack. The company keeps most of its holdings in “cold” wallet storage, away from the clutches of hackers. Most previous hacks on exchanges involved the emptying of “hot” wallets.
Can I Trade with a Mobile Device on Binance?
Yes, Binance offers mobile trading for both Apple and Android devices. Trade on the move, anywhere you have an internet connection. Coinbase Pro recently launched its mobile app, but we feel its glitchy and not as effective as the Binance alternative.
Is Binance Customer Support as Good as Coinbase?
Yes, Binance offers excellent customer support, with a phone, email, and live chat support.
Does Binance accept American passport holders?
Unfortunately, as of June 2019, Binance no longer opens accounts for US citizens. Since the company manages an unregulated exchange, it does not meet US regulatory standards.
Are there any drawbacks to using Binance over Coinbase Pro?
Binance does not offer withdrawals in fiat currency. Therefore, if you want to withdraw from your account, you’ll have to send it to another brokerage or exchange like Coinbase, where they can legally process the transaction. It’s important to note that any regulated exchange will make you complete KYC before processing your fiat withdrawal.