Finding the best cryptocurrency exchange is even harder than discovering the next altcoin gem.

There are more than 18000 crypto exchange platforms, and pretty much each of them promises the best service. Are all of them telling the truth? Nope.

Exchanges range radically on transaction fees, number of services offered, customer support, and general ease of use. 

Today we’re going to compare the top dogs, being Coinbase, Binance and Robinhood. 

Here’s which is the best bang for your buck.

Coinbase

Founded in 2012, Coinbase is the top crypto exchange in America and much of the Western world. 

Coinbase does all the small things right.

Fantastic UI? ✅

Eth2 Staking with 5% interest rewards? ✅

Diverse selection of altcoins? ✅

In Q1 Coinbase grew more than 6.1 million active users and went public with one of the most anticipated stocks of the year (COIN). COIN did end up tanking into oblivion but has since recovered past its IPO price.

Coinbase does have the worst fees of any crypto exchange on the market (Debit 3.99% ACH 1.49%). However, these fees can be avoided for the most part using their free service Coinbase Pro. 

Where Coinbase falls short is with its piss poor customer service. It’s bad. So bad, in fact, that users have reported opening tickets for over a month and not hearing anything back. 

All in all Coinbase makes buying crypto simple. But there’s still a lot left to be desired.

Advantages and disadvantages of Coinbase

Here are some advantages of using Coinbase

• ·   Coinbase offers access to more than 80 cryptocurrencies.
• ·   There are negligible chances of hacking, and in case something terrible happens, the cryptocurrencies are insured.
• ·   It has a high liquidity rate

Some disadvantages include

• ·   They have high fees as compared to other top-rated exchanges (this can be avoided using Coinbase Pro)
• Horrendous customer service that will leave you tearing your hair out
• ·   They do not let their users control their wallet keys.

Robinhood

Robinhood became a cryptocurrency juggernaut this year primarily due to one small altcoin: Doge. 

Maybe you’ve heard of it? It’s kind of a big deal.

When no other exchange gave Doge a chance Robinhood led the charge for the doggy army. In fact, the company itself reported crypto accounted for more than half of all transaction-based sales in the second quarter, and 62% of crypto revenue came from Doge.

Robinhood’s zero-fee policy made it an ideal place for novice cryptocurrency investors to make their first crypto trades.

Ultimately, Robinhood is only a good crypto exchange for beginners because you don’t own any of the coins in your account; you’re investing in the value of the tokens and nothing more. 

Robinhood is not the ideal way to buy crypto, BUT it is a good way to recommend crypto trading to any of your friends who already trade on Robinhood.

Advantages and disadvantages of Robinhood

The advantages of using Robinhood are

• ·   They charge zero fees and let their users trade for free.
• ·   They do not require any minimum deposit, and it is accessible to anyone of any trading experience
• ·   They have a high-performance mobile app for their users.
• ·   They offer free stocks to every new user.

Some disadvantages include

• ·   They have limited support of cryptocurrencies (Bitcoin, Ethereum, Eth Classic, Dogecoin, Bitcoin SV, Bitcoin Cash, Litecoin)
• ·   Their educational materials are not highly researched.
• ·   They do not provide good charting, fast execution, or low margin rates.

Binance

Binance is an online cryptocurrency trading platform with a much different strategy compared to Coinbase or Robinhood. 

Unlike the other two, Binance is for the crypto diehard.

Binance offers high quality crypto education (just like us), gives its international users access to more than a hundred cryptocurrencies and offers a complex series of services such as staking and DeFi.

Binance also has its token as BNB token, which is based on blockchain technology and is used on the Binance exchange to facilitate crypto trading. 

Owning BNB unlocks  0.1% trading fees on the Binance network in addition to less withdrawal fees when moving crypto to your personal wallet.

In terms of DeFi, the Binance Smart Chain is a fork of Ethereum and is desinged to host decentralized applications and smart contracts. However, unlike Ethereum, the Binance Smart Chain has low fees and less network congestion.

PancakeSwap is Binance’s most popular DeFi application and BNB is the third-most valuable cryptocurrency in existence.

Advantages and disadvantages of Binance

The advantages of using Binance are

• ·   It is one of the most trusted exchanges when it comes to crypto.
• ·   It has advanced features such as staking and DeFi
  • Complex crypto education guides and videos
• ·   Comparatively low trading fee.
• ·   It is a secure platform, and In case of any security breaches, assets are insured.
• ·   They support more than 500 cryptocurrencies.

Here are some disadvantages of using Binance

• ·   It may not be the best option for beginners
• ·   They do not provide customer support.

 

Investing in BNB, COIN, HOOD

When we talk about the BNB coin, COIN stock, and HOOD, we discuss three very specific things. 

Although BNB is a Binance exchange-issued token, HOOD and COIN are company stocks. The stock will symbolize a business’s ownership, and purchasing a stock indicates that one now owns the company’s share. 

Buying BNB token is just like purchasing a commodity (gold, oil) and has pragmatic functionality; in this case DeFi.  

 

Which Platform is Best For You?

Robinhood is the best exchange for crypto newbies. 

If you’re just getting into crypto or coming over from a traditional finance background you may find it easier to get started using a conventional exchange. 

When someone gets into Bitcoin we call it getting “orange-pilled.” Robinhood is orange-pilling like crazy this year with Dogecoin and zero-fee trading.

Meanwhile, Coinbase is recommended for both expert traders and newcomers. It offers an easy-to-use interface that anyone can learn to use in a jiffy. 

Furthermore, Coinbase, is a highly secure platform with a large number of cryptocurrencies available for exchange.

Binance is for the pro, but don’t let that stop you from exploring it even if you’re new to crypto. 

Binance has the best selection of cryptocurrencies and most eclectic services compared to the other two. It’s the number one international exchange for a reason.

In closing, play with all three exchanges and find out which one is the best for you!