While there are hundreds of crypto exchanges in the world, there is also a handful that is instantly recognisable. One of these is Coinbase, a major exchange in the industry and a popular pick for newbies and even more experienced investors.
Regardless of which category you fall into, chances are that you might have considered opening an account with Coinbase at some point. But how does it stack up to other exchanges in the market? We break it down in this article:
Token Roster
One thing that Coinbase is famous for is its extensive roster of tokens. As Gordan Ravanovic writes, there are always new Coinbase listings to look forward to. Whether these are tokens you want to trade for profit or use on an anonymous casino, there is something for everyone.
As per the official website, Coinbase boasts 260 digital assets and 300 different trading pairs. In comparison, Binance offers over 500 cryptos and over a thousand different trading pairs. OKX lists over 350 cryptos and 500 trading pairs. KuCoin lists over 932 cryptos and over a thousand trading pairs.
Fees
Fees are a major consideration for crypto users and a deciding factor when choosing an exchange. Unlike a lot of exchanges in the market, Coinbase does not have a set fee structure. Instead, fees are calculated when an order is made and can be higher or lower due to factors like ‘your chosen payment method, order size, market conditions, jurisdictional location, and other costs we incur to facilitate your transaction.’
Binance, on the other hand, has a defined system for fees and these partially depend on membership. Regular members pay a 0.1000% fee for marker or taker transactions while the lowest possible fees are 0.0120% and 0.0240% for maker and taker transactions for VIP 9 members. Regular users on OKX are charged 0.080% for maker transactions and 0.100% for taker transactions, while its highest VIP tier is charged -0.005% for maker transactions and 0.015% for taker transactions.
Regular users on KuCoin are charged 0.100% for maker and taker transactions while its highest level of VIP members are charged -0.005% for maker transactions and 0.025% for taker transactions.
Other Features
Outside of the number of tokens and the fee structure, exchanges also have exclusive features that customers can take advantage of. Coinbase, for example, has a self-custody wallet that allows users to take complete control of their digital assets. While other exchanges like Binance and KuCoin have their own wallets, Coinbase is more widely used, especially compared to Binance, which is limited in the United States.
Conclusion
Coinbase has remained one of the most popular crypto exchanges in the world for years thanks to the features that make it stand out from others. While it has a smaller selection of tokens and a less concrete fee structure, its widespread availability will make it the best option for some users depending on their needs.