It is protected with a password and biometric access controls. To complete advanced verification, you will need to upload a government-issued photo ID and a picture of yourself.ĭevice management: Binance allows you to review all the devices that have accessed your account, and restrict any that you don’t recognize.īuilt-in wallet: Coinbase offers its own digital wallet for storing your cryptocurrency. It also makes sure no one else is using your identity to create a fake account. Two-factor authentication: Binance also offers two-factor authentication (2FA) via SMS or the Google Authenticator app.Īdvanced verification: Binance advanced verification is required to unlock more access to the platform (larger deposit/withdrawal limits, etc.). These addresses are saved in your address book, blocking any other addresses from accessing your funds. Whitelisting crypto addresses: Binance offers address whitelisting, which is the ability to restrict access to addresses that can withdraw your cryptocurrency. Trust Wallet secures your assets with a PIN, biometric access, encrypted key as well as a 12-word recovery phrase. Trust Wallet partnership: Binance does not have its own digital wallet, but partners with Trust Wallet, a leader in the digital wallet space with over five million users. Here are a few of the security options available on each platform: Once verified, you can connect a bank account or credit card to immediately begin purchasing crypto.īinance and Coinbase offer robust security settings to protect your digital assets. This is done via the Coinbase app by taking a picture of your ID or you can manually upload it on the web version of Coinbase. You can sign up for a free account with your email address, then verify your identity with a government-issued photo ID. You can also use their mobile app on both iOS and Android for access on-the-go.Ĭoinbase makes it easy to get started with a simple sign-up form and verification process. From there, you can start buying crypto right away.Ĭoinbase offers a simple interface for buying, selling, and trading cryptocurrency. Once you verify your email address, you can secure your account with two-factor authentication and connect your bank account or credit card. To sign up for Binance, simply create a free account using your email address and a password. Binance makes it simple for beginners to sign up and start trading, but advanced users can also get as technical as they want with Binance’s advanced charting, trades, and custom API keys. Maximum 0.10% purchase and trading fees (discounts available) Additional 3% fee for credit card purchases Deposit and withdrawal fees vary by currency No fees for USD deposit or withdrawalĠ.50% per trade Additional 2.49% for bank account or Coinbase Wallet purchases Additional 2% for credit card purchasesĢFA via SMS or Google Authenticator app Device-level restrictions U2F security via hardware key Whitelisting pre-approved addressesĢFA via SMS or Google Authenticator app Cold storage and multi-signature wallets USD balances FDIC insured up to $250k KYC and anti-money laundering protectionsīuy, sell, trade, deposit, withdraw Stop order Limit order Margin, options, and futures tradingīinance is a jack-of-all-trades, giving users everything crypto-related in one platform. Simple interface Buy, sell, and exchange Price quoted in USD Multiple trading interfaces Multiple order types, including derivatives and futures API keys Low per-trade fees We’ve reviewed both platforms based on their supported currencies, security, fees, features, and more so you can decide which option is right for you. Binance, on the other hand, has opened its exchange to over 500 cryptocurrencies (and counting). Coinbase has a strict vetting process for which crypto it will support and currently offers over 40 of them. The biggest difference between the two platforms is the available cryptocurrencies. Binance is available in more than 180 countries worldwide, though they did have to spin off a separate entity, Binance US, specifically for United States users. It has quickly grown to be the largest exchange in the world by volume and offers users access to hundreds of cryptocurrencies. With an easy-to-use app and the ability to buy crypto with your bank account or credit card, Coinbase has positioned itself as one of the top exchanges in the world.īinance is a relative newcomer to the cryptocurrency space, founded in 2017 by Changpeng Zhao. It is a U.S.-based, regulated exchange that offers access to some of the top cryptocurrencies on the market today. They both give users access to buy, sell, and trade cryptocurrency.Ĭoinbase was one of the earliest crypto exchanges on the market, started in 2012 by Brian Armstrong and Fred Ehrsam. Binance and Coinbase are the two largest cryptocurrency exchanges available today.
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