Why is Binance More popular than Coinbase ?
Coinbase is a US based cryptocurrency exchange site which has been in existence before the coming of the big exchange site , Binance. It is surprising that Coinbase has lost it's glory to Binance under one year. What could be the reason behind this ?
Coinbase has enticing features in it's platform but these features seems to be suitable for those in US and UK. This made it difficult for people from other low countries to use the platform. Some coinbase users before can only receive and send crypto but they are not able to withdraw to Fiat Currency nor deposit through coinbase. This made these affected Investors to seek for alternative. Binance came into the cryptocurrency world having seen the challenges faced by people across the world. They made their platform available to almost all the countries ,and offer withdraw to Fiat Currency for everyone. Their interface was also very beautiful , so people saw what they have been looking for and thus dived in to it.
They didn't stop here , they went ahead to build their own Chain called the Binance smart Chain which helped many people to build projects on their network. Coinbase on it's own are still unable to offer their services especially Fiat Currency withdrawal to everyone and thus they won't be able to compete with Binance.
I think that to a large extent it could actually be as a result of the number of cryptocurrencies that are listed on any one of the given exchange sites. For example I know that coinbase only recently started to list dogecoin which is quite a considerable cryptocurrency that many people have been investing in. Therefore if people are unable to obtain this cryptocurrency from the coin based platform they are likely to look at other exchange platforms that offer this cryptocurrency and may end of using a binance exchange platform account. The binance cryptocurrency exchange is actually known for having a lot of different cryptocurrency and as a result I think that this is the main reason that they have overtaken coinbase.
Binance is an exchange platform that is readily available to all tiers of country, the CEO of the platform and his team are proactive and creative to have made the platform so popular in a very short time compared to coinbase. People love to use Binance because of the huge membership base advantage, this makes most coins listed there to have a bullish run in a very short time due to high trade volume.
Binance is more popular than Coinbase, because Binance is the exchange with the most users, so Binance is often referred to as the largest exchange in the world, all the features available on Binance can be used by every user well without country or region restrictions, While Coinbase even though every country is welcome to be a user but there will be a feature limit that can only be used by certain countries.
Coinbase can't compete with Binance in any way, Binance exchange is way ahead of Coinbase. Simply because they are universal, helping those who aren't having Coinbase full feature to access their own full feature, and having the best time when it comes to Cryptocurrency transactions. Binance have made crypto investment enjoyable cos of its numerous ways of earning through Cryptocurrency.
Binance is way ahead of Coinbase due to the fact that Binance allows all members from almost all the countries to trade crypto, even though it does restrict certain countries. Coinbase restricts a lots of countries when it comes to trading. It is quite interesting to note that Coinbase was founded in the year 2012 and Binance was founded in the year 2017. However, still Binance is far more popular than Coinbase. I think this is because Binance supports various coins that are not supported by Coinbase and this might be one of the biggest reasons why Binance is more poplar than Coinbase.
Do a google search, on Binance users and Counbase users and you will find the answer on which one is more popular. Binance has 13.5 million active users, Coinbase has 13.3 million active users. Coinbase is not even available world wide. Once Coinbase becomes global, I think Coinbase will have more users than Binance.