xyzBlogger Digital World & Tech Blog
Looking for the best cryptocurrency exchanges in Nigeria? The battle is Coinbase vs Binance Here you’ve come to the right place where you can get all the comparisons and their differences.
Binance and Coinbase are two digital currency platforms with totally different methodologies. Coinbase is a United States-based crypto exchange designed for newbies with a simple interface and limited transaction types. Binance has a precarious expectation to learn and adapt, upholds progressed clients, and gives global brokers many currency exchanging choices.
In Nigeria after the central Bank of Nigeria bans all use of cryptocurrencies, it becomes very difficult for the users in other to make their transactions, therefore Coinbase and Binance remain the best crypto exchanges in Nigeria.
Binance is a cryptocurrency exchange that is the largest exchange in the world in terms of the daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high-frequency trading software.
Coinbase was founded in July 2011 by former Airbnb engineer Brian Armstrong and was first funded by Y Combinator. In 2012, co-founder Fred Ehrsam, a former Goldman Sachs trader, joined the company, after which Coinbase launched services to buy, sell, and store bitcoin.
Binance vs Coinbase: Features
| Features | Binance | Coinbase |
| Acceptability | ✓ | ✓ |
| Bonus | ❌ | ❌ |
| Instruments | Cryptos | Cryptos |
| Demo Account | ❌ | ❌ |
| Minimum Deposit | $0 | $0 |
| Best Payment Method | ACH Transfer, ADVcash, Bitcoin Payments, Credit Card, Flutterwave, Google Pay, Paybis, Wire Transfer. | Bank Account (ACH), Debit Card, Wire Transfer, PayPal, Apple Pay, Google Pay. |
| P2P Method | ✓ | ❌ |
| Minimum Trade | $10 | $2 |
| Mobile Apps | Android, iOS | Android, iOS |
| Naira Currency | ✓ | ❌ |
Binance vs Coinbase: Fees
| Fees | Binance | Coinbase |
|---|---|---|
| Bank account | Free outside of the U.S. | 1.49% |
| Wallet | N/A | 1.49% |
| Debit/credit cards | 3.5% or $10 whichever is higher | 3.99% |
| Automated clearinghouse (ACH) transfer | N/A | Free |
| Wire transfer | $15 per U.S. wire transfer | $10 deposit, $25 withdrawal |
| Cryptocurrency conversion | Free, however, Binance has a spread above market price | 0.50% to 2% |
| Purchases | 0.015% to 0.1% | 0% to 0.50% |
| Trades | 0.015% to 0.1% | 0.50% |
| Other fees | 0.50% instant buy and sell fee | $0.99 to $2.99 based on the amount |
Binance vs Coinbase: Coins
| Binance | Coinbase | |
| Cryptocurrency | Buy and sell an extensive list of leading and emerging crypto coins at Binance. | Coinbase offers access to almost 4000 digital coins. It is the easiest place to buy, sell and manage your cryptocurrency portfolio |
| Spread | Variable fees with account tiers | BTC 0.1%, ETH 0.1% |
| Crypto Lending | ✓ | ❌ |
Popular Binance Coins:
DOGE, VET, USDT, BTC, BNB, ETH, VTHO, ADA, ONE, SOL, NEO, LINK, XLM, NANO, LTC, BUSD, HBAR, ALGO, MANA, ZIL, ENJ, BCH, MATIC, EGLD, HNT, EOS, QTUM, RVN, DAI, IOTA, ONT, STORJ, UNI, ETC, BAND, OMG, XTZ, USDC, ATOM, DASH, ICX, BAT, MKR, OXT, ZEC, ZEN, ZRX, COMP, WAVES, KNC, REP, PAXG, FIL, WBTC, THETA, SHIB.
Popular Coinbase coins:
BCH, BTC, ETH, LTC, XRP, IOTA, NEO, EOS, XMR, FIL, WBTC, SHIB, BNB.
