It's also non-custodial, meaning its private key is stored in your device - not in Coinbase’s servers - so you don’t need to worry about your currencies being locked for any reason or exposed to a cyberattack on the website. The Coinbase wallet may be used without opening an account with one of the largest cryptocurrency exchanges. It’s important to make a distinction between Coinbase the exchange and the Coinbase wallet. Coinbase Wallet can store non-fungible tokens (NFTs) and digital collectibles, and it supports over 500 crypto assets - the largest number among hot wallets on this list. The app can connect to most major bank accounts and has an interface that is welcoming and easy to navigate, consisting of a simple three-tab layout and clearly identifiable functions. Why we chose it: We chose Coinbase Wallet as the best crypto wallet for beginners because it’s an intuitive and highly secure wallet that is backed by a well-known exchange.Ĭoinbase Wallet is an excellent wallet for beginners who have little to no experience with crypto.
Coinbase charges relatively cheap fees, but it is not the only exchange that offers a bunch of different coins at low fees.Ĭoinbase has been slammed in the press for allowing unlicensed sellers to list coins on their platform. The platform also allows users to buy other cryptos with bank transfers and credit/debit cards. The platform boasts over 10 million users and allows users to buy and sell four major cryptocurrencies immediately: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
This was not a security breach but rather caused by Binance users creating large transactions which were flooding the blockchain network.Ĭompared to Binance, Coinbase is far more beginner-friendly and is known for being a secure place to start trading crypto. The company was recently forced to stop most trading on the platform for an hour because of an issue with their system. The company’s CEO, Changpeng Zhao, has also built a great rapport with the team’s community through various interviews and social media interactions.ĭespite its popularity, Binance has suffered a couple of setbacks in 2018. Binance is also known for its BNB coin, which can be traded with many of the new tokens listed on the platform.īinance users have been very vocal about the platform, praising it for its intuitive user interface and high-security standards.
The exchange offers hundreds of different trading pairs for users to choose from, as well as low trading fees and an advanced trading engine for experienced traders. This blog post seeks to explore the differences between Binance and Coinbase so that consumers can make a more informed selection about which platform is the best for them.īinance is a leading cryptocurrency exchange that aims to create a complete blockchain ecosystem. Despite this, users will find that both platforms have their pros and cons. The two companies operate differently in terms of how they handle and store users’ funds, as well as the types of currencies they offer. Coinbase and Binance are two cryptocurrency exchange platforms with very distinct approaches.