![]() To be eligible for deposits in the first place, you need to go through a simple KYC (Know Your Customer) verification process before Binance accepts your request. The platform has been reconsidering fiat exchanges and has recently added restricted availability on making fiat deposits and withdrawals via cards and bank transfers. To make sure your target currency has the trading pair you aim for, check out the full list of pairs per coin on CoinMarketCap. This also means that Binance offers a huge number of trading pairs. You can buy, sell, and exchange tokens like Ripple (XRP) and Eos, or even stablecoins. Coinbase Pro is the only one of the two platforms discussed in this guide that offers this option to its users.īinance makes up for the lack of fiat support with an outstanding number of more than 150 supported cryptocurrencies. Why is this important? Well, if you’re new to crypto trading, this platform allows you to make USD, EUR, and GBP deposits. The good thing about Coinbase Pro is that it belongs in the group of the so-called “Fiat Gateway” platforms which allow fiat-to-crypto exchanges. The reason behind the limited choice of coins is the security aspect as most of the lesser-known coins have yet to pass the Digital Asset Criteria set by Coinbase and later on adopted by Coinbase Pro. Coinbase Pro supports only the key players on the crypto scene, namely, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Binance vs Coinbase Pro: The Comparison Bitcoin and Other Supported CryptocurrenciesĬoinbase Pro and Binance are quite different in terms of supported cryptocurrencies, trading pairs, and fiat exchanges. Prior to launching his own crypto exchange, he worked for on various cryptocurrency projects and excelled as a chief technological officer at OKCoin. This doesn’t mean that the platform doesn’t comply with anti-money laundering regulations and precautions earning the trust of millions of investors around the world.īinance is backed by a stellar team, spear-headed by CZ who is an experienced marketer with an impressive background in the crypto industry. Finally, the company decided to settle down in Malta which is considered to be a global leader in crypto regulation.īinance is regulated in Malta under the newly enacted Virtual Financial Assets (VFA) Acts but other than that it hasn’t been registered with any legislative board. However, Japan turned out to be far from crypto-friendly as the Japanese Financial Services Authority (JFSA) followed Binance’s every move. Due to regulatory issues, the company was relocated to Japan. It was founded in 2017 by Chinese national Changpeng Zhao, also known as CZ, with corporate headquarters located in Shanghai, China. BinanceĬompared to Coinbase Pro and its sister-platform Coinbase, Binance is relatively new on the crypto market. Over the months, as more and more features were added to the extension, the operating team of Coinbase realized it would be more convenient for traders if they launched Coinbase Pro separately. This is how the idea for Coinbase Pro was born. Coinbase saw the urgency to address their needs and enlarge the scope of their trading options to cater to the more risk-taking adventurous users. ![]() While that fact still hasn’t changed, experienced traders are growing in number, and many companies are deciding to invest in cryptocurrencies too. That’s why, if you ask anyone for advice on which crypto exchange to choose as someone who is new to the crypto market, they will direct you straight to Coinbase. The unexpected growth in popularity was to a large extent the result of the user-friendliness of the platform, their simple, minimalistic design, and basic trading options. The original platform was founded in 2012 by Brian Armstrong and Fred Ehrsam with headquarters in San Francisco, California. It now goes by the name Coinbase Pro as a reminder of the fact that the platform was designed as an extension of Coinbase aimed at seasoned and institutional traders. Global Digital Asset Exchange or GDAX was launched as a separate crypto exchange in 2016. ![]() Final Thoughts About the Crypto Exchanges GDAX / Coinbase Pro
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