Binance had to form a separate organization, Binance US, available in more than 180 countries to serve US customers. Hundreds of different cryptocurrencies may now be purchased via it, making it the largest cryptocurrency exchange in the world. Coinbase has become one of the world’s most popular exchanges because of its user-friendly design and the ability to buy cryptocurrencies using a bank account or a credit card.Īs of 2017, the Binance platform is a relatively young player in the cryptocurrency market, founded by Changpeng Zhao in 2017. You may buy some of the most popular cryptocurrencies via this authorized US cryptocurrency exchange. Coinbase and Bitfinex both allow customers to buy, sell and trade bitcoins.īrian Armstrong and Fred Ehrsam launched Coinbase in 2012, making it one of the first cryptocurrency exchanges to enter the market. Fast forward to 2022īinance and Coinbase are the two most popular cryptocurrency exchanges nowadays. Now Coinbase has several advantages over Binance, which it can use to gain superiority in the markets. The most incredible advantage is that the former allows over twenty altcoins to be traded through the exchange, while Binance.US only offers seven assets altogether. Binance immediately became a market leader and has been giving a tough time to Coinbase ever since. This created quite a stir in the markets as both the IEO craze and the altcoin market started moving downhill.Ĭoinbase was the market leader back in 2017, but things changed when Binance charged into the scene. However, soon Binance announced that it would no longer offer services to residents of the United South. Many new projects could attract suitable investors to support their development through the trend. The trend then snowballed, and various other exchanges started offering IEO services. Binance seizing the moment, launched an IEO platform called Binance Launchpad to launch new cryptocurrencies with exchange support. The concept of initial coin offerings (ICOs) thrived in 2017, while 2019 became home to IEOs. Coinbase: Background You Need to Know Seizing the moment with ICOs in 2017 Let’s see the basis of this “supremacy” over the other crypto exchanges now held by Binance, primarily compared to Coinbase.ġ2.9 Where did Binance lose to Coinbase in the Forbes survey for top US crypto exchanges? Binance vs. Since then, it’s been an uphill battle for the two rival cryptocurrency exchanges. Although Binance has launched a US platform, the exchange still seems to be losing its grip over the region. In September 2019, Coinbase announced launching an initial exchange offering (IEO) similar to Binance’s Launchpad program. The news follows the downhill movement of Binance’s influence in the US, which eventually ended services in the United States.
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