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Binance versus Coinbase – Battle of Giants
Introduction
Binance versus Coinbase it is a battle of giants. Two giants and only one can be the leader in the cryptocurrency exchange. Of course, there is a lot of to fight about. About what I am writing?
In this article I will writing about cryptocurrency exchanges, especially about those two – Binance and Coinbase, compare them, give some tips. Besides, I mention about another interesting facts from crypto exchange world.
Please read, share and comment!
Let’s get into job.
Binance versus Coinbase – how to Start?
Doesn’t matter that you are beginner or advance trader. Binance and Coinbase you have to know, because the are two cryptocurrency exchange giants. How exciting is battle between them? Of course, it exciting and things really take place.
How to Start in Binance?
OK, let’s first start with basics like installing application and doing first trade.
Go to binance website and sign in there or download app.
In the right on navigation menu do you have Sign Up button or scroll little bit down and there will be Download App section.
Obviously, scan the barcode can be one of the download options… MacOS, Windows or Linux. All the platforms do have own application version to download.
What’s next? If you chose to Sign Up on website then you are free to go.
The most popular option is Email Sign Up. After writing down Email and next Email verification you have your account on Binance. So simple.
In case of mobile application process is exactly the same, so it’s time for the first trade ever. Before that happen you probably need to pass double verification – email and phone number.
Everything to security reasons. Maybe it could annoy you, but later you will really appreciate it. Especially if on your account would be a lot of money!
I won’t go to all details about using Binance App, because it’s so many options out there.
You want to trade your first cryptocurrency, but you still don’t have money on your account. Time to change it.
Deposit Money on Binance
On the right do you have Menu with option button Deposit and click on it. Then you will see something like this.
There would be a few another options to deposit your money.
Of course, take the best options for you. Card (VISA/Mastercard) is the most expensive, but it’s fast. In this example I use this option.
As like I have said it’s expensive option. Not recommend in case of more than 100 Euro deposit. In case of small deposit it’s good option. In case of bigger deposits it would be better use SEPA bank transfer.
After this your money would be allocated on your account.
SEPA transfer is about 2 business days before they will be on you account. In case of Card payment they would be after a second on your account.
When you deposit your money there need to be EURO fiat money converted to digital dollar currency – USDT or USDC (the most popular options).
Only then you can trade.
First Trade on Binance
Go to main menu and select Trade.
Afterwards, you will see Trade options like Spot.
After click in Spot you see screen similar to mine. In example it’s is BTC/USDT pair course.
Write down how much you want to buy and click buy BTC, but you can only do it when you have USDT stablecoin. In this example I used USDT stablecoin.
You did it! Your first trade is done.
I have explain how to start trade on Binance example. In case of Coinbase situation is really similar. There are just small and slice difference.
Binance versus Coinbase – Some Interesting Facts
I will be clear that interesting facts for me could be not so interesting for everyone in general. Here is why? I am looking for data like trading volume, trustworthiness, asset reserves and so on.
Trust in both cases are 10 grades on 10 scale. Last 24 hours volume trade huge advantage in case of Binance. Monthly visits on website are on advantage of Binance as well. What I don’t like about Coinbase is that asset reserves are not transparent.
Beside that, Bybit exchange has more trades that Coinbase. Bybit is another big one player in the crypto exchange world.
In this research let explore all 10 grade exchanges. What mean they are really reliable and everyone should start their adventure on exchanges on the one of them.
According to coingecko data 10 exchanges are 10 grade trust exchanges. Binance and Coinbase is on the top places.
OKX and Bybit are also strong exchanges in case of trading volume, website visits (interest of potential customers and trust score). Interesting. Battle of two giants can change to little bit different dynamic.
Without any doubt, this data are far from give strict predictions, but they can be pretty important in the future. I mean by that, business development for exchanges will be continued and innovations will take place. Marketing is crucial as well.
I am just telling you about things what I have on my mind in the moment of writing this articles. I could be right or wrong, but this data tell a lot.
Binance versus Coinbase – Comparison
Right now I will write some data about customer point of view, because everyone should know things like cost of trade and how many crypto are available on exchange.
From this comparison you can see that on Binance there are more cryptocurrencies to trade. In case of Binance KYC is not required, but on Coinbase is.
Fees on Binance are lower than on Coinbase and this is very important fact for all traders or investors. Regulations on US market are happen in both cases. Part of Binance is Binance.us and there happen regulation on US market as well.
What about easiness of use? Coinbase in easier to use than Binance, but I have found that Binance is not difficult at all. Anyway, for every new user of crypto probably Coinbase would be easier.
All that I have written and it’s time to answer another question:
Battle of giants in CEX exchange is tough. 2 main players – Binance and Coinbase and 2 extra – Bybit and OKX are taken in consideration as leaders of CEX battle.
Let’s find out who is who?
Binance versus Coinbase – Battle of Giants
First things first, CEX is really exciting sector and very young as like all cryptocurrencies. As like I have mention in the last article about technology adoption lifecycle we are still before the mainstream adoption.
Crossing the chasm mean a lot.
I explore market capitalizations at a peak from the last bull markets. Why? Market growth still expand and right now (in the moment of writing article it was 3,25 trillion market cap).
Just compare cryptocurrency market with gold market capitalization, because in the future a lot of countries and institutions will invest more in crypto.
During the article writing market cap of crypto it was 28% of gold market capitalization, but wait for this.
Market capitalization for cryptocurrencies can be considered to be similar like equalities category of assets.
Here situation is even more convincing how can expand crypto market. Crypto market is just 2,6% of equality market capitalization size.
Maybe right now you see what is all about this whole battle. Leader of this battle will take big part of whole market. If growth – let say – 27% of market will be stable every year then in 2030 market capitalization of cryptocurrencies will be $14,6 trillion.
In the cryptocurrency emerging market battle of giants there will be winner whose will take significant part of whole market capitalization. Very conservative approach give me result on level 14,6 trillion in 2030, but after crossing the chasm things can expand way faster.
Cryptocurrency market can grow to 14,6 trillion dollars in 2030 in very conservative approach. Crossing chasm will change everything.
Binance versus Coinbase – Winner among Giants
Title of CEX leader is winner of significant market capitalization of emerging market – cryptocurrency market.
Binance versus Coinbase in my opinion is battle of two giants, but still on the horizon are 2 another big players what we should consider.
Whole battle taking place all around the world among different kind of clients. In the future generations – gen Z and millennials would be main clients of crypto.
Binance and Coinbase should take in consideration what those clients would love to do on their exchanges.
Conclusions
Battle of two giants would be really exciting. Binance and Coinbase are leaders of this battle, but OKX and Bybit can play important role in case of CEX dominance in the future.
Market capitalization of cryptocurrency market is expanding and in case of another asset classes are still small. In comparison to gold market cryptocurrency market is 28% and in case of equality just about 2,6%.
Battle about assets will take place in the future. Binance and Coinbase definitely will be the biggest challengers to win.
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