Best Bitcoin Trading app: Binance vs Coinbase
Best Bitcoin Trading app: When it comes to trading or investing in a cryptocurrency like Bitcoin, looking for a trading application that meets your preference should be a top priority. However, there are some features that any reliable trading application should possess. These features include user-friendliness, security, minimal or zero fees, active customer support, a good reputation, available trading pairs, and a few more trading features.
Best Bitcoin Trading app
Binance and Coinbase are reputable cryptocurrency exchanges and have been on top over the years. They both provide means for crypto users to buy, sell, and exchange Bitcoin. In simple terms, the Binance interface and functionalities appeal more to advanced traders than beginners. Although, the lite version is a bit in tune with the needs of any random trader. Coinbase, on the other hand, takes out ambiguity and complexity from the trading process, hence more ideal for a beginner.
However, one would need more than simple descriptions to know about these two crypto trading platforms. Hence, in this article, we have detailed all you need to know about trading bitcoin with Binance and Coinbase. Also, we touched on other crypto exchange applications where you can buy and sell your cryptocurrencies.
Why Binance and Coinbase are among the Best Apps for Bitcoin Trading?
Binance and Coinbase Bitcoin trading applications have the following features:
- Trading features
Newbies can buy and sell Bitcoin on Coinbase with zero ideas about how to use the app. Binance, on the contrary, gives access to various advanced trading tools to aid fascinating trading experiences.
Both Apps have intriguing features peculiar to them. Binance mobile app offers features like users reward, an academy that provides cryptocurrency education, several trading options, and DApp recommendations. Coinbase has its own, such as earning some tokens of Bitcoin or other cryptocurrencies when you watch educational videos on crypto assets, news feeds to stay updated on crypto trends and developments, and price alerts through push notifications.
Fees can make a significant impact on the choice of a trader or investor, especially when considering the cost of depositing and withdrawing Bitcoin. Binance offers lower crypto exchange fees in comparison to Coinbase. It also has its crypto token, which is BNB.
Due to the potential risk of hacking that could affect crypto users’ funds and information, the crypto community has taken security more seriously. The security issues that have occurred in the past have plunged crypto exchanges and brokers to introduce enhanced security features that are more reliable.
Both trading applications offer standard security features to secure their users’ digital assets. For example, the Binance trading application has security features like two-factor authentication, API access control, IP and wallet address whitelisting, emergency notifications, emails, and security alerts if any suspicious activity is identified on a user’s account. The app also protects users’ using Advanced-Data Encryption which enables only the users to gain access to their data.
Apart from two-factor authentication, the Coinbase trading app provides vaults to enable further asset protection. Storing your Bitcoin in this vault would prevent you from withdrawing your Bitcoin immediately because it has additional security steps like multiple user approvals. However, these steps are optional; they are there to prevent fraudulent withdrawals. Another advantage of these vaults is time-lock which cancels unapproved vault withdrawals within 24 hours.
- Staking rewards
Binance bitcoin trading app offers both locked and DeFi staking. Opting for locked stakings means locking your Bitcoin for a specific period. You contribute to the network and earn rewards for this. Defi staking assists you to participate in decentralized projects.
Coinbase provides staking services for a few cryptocurrencies, including ETH, Tezos (XTZ), and Algorand (ALGO).
All these features and more shows how Binance and Coinbase trading app are best for bitcoin trading. However, other crypto trading applications are also reliable for Bitcoin trading. DartAfrica Trading app is the best mobile application you can trade your Bitcoin at the best exchange rates in Nigeria and Ghana.
Bitcoin transactions on the DartAfrica app are also swift. This confirms that Dartafrica puts customer satisfaction first. You can buy and sell your Bitcoin on the DartAfrica app and withdraw your funds directly into your local bank account within a few minutes.
How to Trade Bitcoin on DartAfrica App
- Open DartAfrica App or download the app from Google Play Store.
- Create an account. Or log in if you already have an account. Click the Sell now button.
- Scroll to the Sell coin section on the page and select Bitcoin on the coin select tab.
- Fill in the amount of Bitcoin you want to sell and click the sell button.
- An address will be provided, copy and send the Bitcoin amount to it.
- Only two confirmations are needed, and your payment will be automatically sent to your wallet.
- Update your bank details and withdraw your cash into your local bank account.