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– TIMESTAMPS –
1:39 About Binance US & Coinbase Pro
4:16 Are They Safe?
8:07 Supported Cryptos
9:03 Deposit Methods
9:45 Supported States
15:00 What To Know
16:07 How To Trade?
18:51 Apps & APIs
20:01 Final Thoughts
📺 Recommended Videos 📺
► Learn About Gemini 👉 https://www.youtube.com/watch?v=9Gj0YUFLEpU&t=410s
► Best Crypto Wallets 👉 https://www.youtube.com/watch?v=Eod04JEyOV8&t
► Best Crypto Trading Bots 👉 https://www.youtube.com/watch?v=9Hv0BQwYlPw&t
⛓️ 🔗 Helpful Links 🔗 ⛓️
► BAM Trading Company Info: https://opencorporates.com/companies/us_dc/EXTUID_4252307
► Coinbase Pro Fees: https://news.bitcoin.com/binance-acquire-coinmarketcap-com-400m-cash-stock-deal/
► Binance US Fees: https://news.bitcoin.com/binance-acquire-coinmarketcap-com-400m-cash-stock-deal/
► Binance Security Breach: https://www.binance.com/en/support/articles/360028031711
► Coinbase Pro Supported Cryptos: https://www.binance.com/en/support/articles/360028031711
► Binance US Supported Cryptos: https://www.binance.us/en
📝 Overview 📝
Finding the right crypto exchange can be a daunting process. That’s particularly true if you are a US citizen.
❓About Binance US & Coinbase Pro❓
Coinbase Pro is based in San Francisco and has acquired more than 35 million users, processed $220 billion in trading volume and services over 100 countries. It also has safeguarded $7 billion in institutional assets since 2013.
The first thing to know is that Binance US is a separate exchange to Binance.com. BAM trading services operate this exchange and I could only find very limited information about them. However, it does appear that legendary Binance founder CZ has a stranglehold on this US operation.
🔒 Are They Safe? 🔒
Coinbase Pro uses the same security protocols as Coinbase. 98% of funds are stored in cold storage and private keys are stored in safe deposit boxes. US users enjoy FDIC insurance on USD balances and that’s good for up to $250k.
Binance US also has FDIC insurance. However, you could know that Binance.com got hacked in 2019. We can infer from that incident that the exchange holds 98% of user funds in cold storage. Additional phishing protections were deployed after the hack and the exchange also has the SAFU insurance fund as well.
💰Supported Cryptos 💰
Coinbase Pro supports 31 cryptos, whereas Binance US supports 41.
💳 Deposit Methods 💳
► Binance US: Debit card, domestic wire & ACH.
► Coinbase Pro: ACH, wire and PayPal for withdrawals.
Both exchanges support crypto deposits and withdrawals.
🇺🇸 Supported States 🇺🇸
► Coinbase Pro: Supports every state except Hawaii.
► Binance US: Blocked states include Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont & Washington.
💸 Fees 💸
ACH deposit fees are free on both exchanges. However, if you want to use a wire or debit card then Binance US is going to be slightly cheaper.
One thing to be aware of is that Coinbase Pro has no withdrawal fees and on Binance US, you’ll pay a variable fee based on the crypto you withdraw.
When it comes to trading fees, Binance US is five times cheaper, charging a maximum fee of 0.1%.
✅ Things To Know ✅
With Coinbase Pro, you need to create a regular Coinbase account first.Your Coinbase login and password will be exactly the same for your Coinbase Pro account and you just need to transfer funds
Coinbase Pro verification is as easy as taking a selfie and submitting an ID document. Binance US has three steps of verification which will take about 10 minutes to complete.
📈 How To Trade? 📈
Watch my vid to learn how to do that!
🎧 Customer Support 🎧
Both exchanges use email support tickets. However, Binance US response times are significantly better.
📱 Mobile Apps & API’s 📱
Both exchanges have mobile apps, API’s and are compatible with a plethora of trading bots.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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