It is true that the cryptocurrency industry was launched back in 2009, yet it did not have a proper and formal exchange until 2011. That is when the cryptocurrency exchanges started launching. Since then, major cryptocurrency exchanges such as Coinbase, Kraken, Poloniex, Binance, and so many more have been introduced in the crypto-verse.

However, there is no competition when it comes to Binance and Coinbase exchanges. These two exchanges are currently the largest in the cryptocurrency industry. At present, Binance holds the title of being the largest cryptocurrency. However, Coinbase is also going through all the changes, reforms, and strategies to make it the largest exchange in the due course.

Today, I will be talking about the two exchanges and share some of the highlights of both exchanges for your better understanding. This is to provide you with some useful information about the two largest cryptocurrency exchanges in the entire crypto-verse.

At present, the largest cryptocurrency exchange in the entire crypto-verse is Binance. So far, it seems that the exchange is untouchable because it seems to have the highest user base that is estimated to be higher than 40 million users. The exchange is reportedly providing its services in almost every major country of the world.

At present, Binance exhibits the highest 24-hour trading volume that is over $25 billion. It has an extremely high weekly visits rate that is almost 32 million visits per week on average. The exchange offers you access to over 1,550 markets and over 400 cryptocurrency assets. 

Binance even offers you access to over 43 fiat currencies where the USD, GBP, EUR, JPY, and CND are on top of the list. Some more highlights of the exchange include that the exchange offers really low fees, allows you to process multiple kinds of transactions. 

On the other hand, the exchange has its disadvantages, where the major problem is the restrictions the exchange is facing throughout the world. At present, the exchange falls short on the adherence of KYC regulations and then there are is a dilemma of the exchange providing unregistered services in different areas. 

The exchange has been called out by many regulators from around the world such as the US, UK, Thailand, Singapore, Hong Kong, Australia, Malaysia, and more countries. The reason why the regulators have reacted is either because the exchange has provided unregistered services or is operating unregistered. This is the reason why it has either been banned entirely or had to discontinue some of its services in particular regions.

Then there is Coinbase that is making full use of the situation that Binance is currently facing. It is currently the second-largest cryptocurrency exchange with over 40 million users as well. The exchange currently exhibits 3.8 million visits per week on average. It offers access to 385 markets, 126 cryptocurrencies, and three fiat currencies (USD, EUR, GBP).

Majority of the users that have navigated through the exchange’s interface claim that the Coinbase exchange is a lot easier to use than Binance. The exchange is known for bringing you trading access to some of the most prominent, profiting, and highly adopted cryptocurrencies. 

While Binance currently lacks on it, Coinbase offers you its own digital wallet where you can store funds and do so much more. On the other hand, the major disadvantages of the exchange are the high fees you incur while processing transactions. The exchange is not much diverse when it comes to offering trading options. 

As compared to Binance, the mainstream investors tend to prefer Coinbase exchange more. The reason behind that is because Coinbase is highly regulated and one of the reasons for it being that way is because it has much bigger plans. 

Back in April of 2021, the exchange publicly listed itself launching its stock in the market with the ticket (COIN). One of the major criteria for getting approved for a public listing is for the exchange to be regulated and streamlined with standard procedures. Therefore, the exchange strictly adheres to them and thus, it is safer for investors to use than Binance.