Closer Look At How Crypto Company Binance Outdueled Coinbase In Success The Past Year

2018-11-12 13:02

Even though the crypto sector as a whole has seen a dip in its daily trade volume (across the globe) recently, altcoin trading platform ‘Binance’ has continued to flourish and attract new customers on a near daily basis. This is made evident by the fact that the firm's annual growth rate has increased quite substantially through the course of 2018 alone.

If figures released by Forbes are to believed, this year the Malta-based exchange is all set to rake in a total of $1 billion in profits. To put things into perspective, this figure is nearly $650 Million higher than the profit estimates that have been released for Coinbase (who many believe to be one of the premier altcoin-trading avenues in the world today).

Binance Vs Coinbase: A Closer Comparison

A quick look at BTI’s crypto volume index shows us that Binance is currently leading the roost when it comes to daily (24-hour) crypto exchange volume. To be even more specific, during the month of November, Binance was able to facilitate around $1.02 billion worth of daily transactions on its platform. Over the same course of time, Coinbase was able to generate just $106 million worth of daily BTC trade volume.

With that being said, it is still worth remembering that Coinbase still has the most number of active users across all crypto exchanges worldwide. At press time, the firm boasts of a total of 421,909 live customers (which is significantly higher when compared with Binance’s 312,801 total users).

More On The Matter

In addition to ‘wash trading’ being one of the reasons behind the mammoth numbers being posted by some of the top crypto exchanges, the aforementioned BTI report also states that various traders who sell and purchase assets simultaneously “could have been creating misleading financial activity on various crypto exchanges”.

If that wasn't enough, many of the top trading platforms (including Coinbase) facilitate trades which involve paid listings to generate fake volumes.

Final Take

Rounding off this article, it is worth mentioning that Coinbase currently allows crypto enthusiasts to trade a fewer number of digital currencies when compared to Binance. For example, Binance currently allows for the exchange of tokens such as BCH, Ethereum Classic, LTC along with 158 other altcoins (as well as more than 400 trading pairs.)

This is primarily because the HQ for Coinbase is situated within the United States, a country where the regulatory environment is quite stringent (especially when compared to the economic setting that currently exists within Malta, the small island nation where Binance is situated)

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0072549 (-100%)

daily binance crypto basis near customers flourish

daily binance → Результатов: 87


Tron’s Justin Sun Talks On TRX Surpassing ETH’s Daily Trade Volume, Reveals “Next Goal”

Justin Sun, an ardent supporter of blockchain technology and a fanatical believer in its potential to change the world has demonstrated his convictions in several ways. Apart from his generous donation of $3 million to Binance Charity Foundation, the TRON CEO has also been vocal about blockchain and has always defended the technology from the […] The post Tron’s Justin Sun Talks On TRX Surpassing ETH’s Daily Trade Volume, Reveals “Next Goal” appeared first on ZyCrypto.

2018-10-28 14:44


Фото:

The Daily: Binance Expands, Putin Advisor Visits Huobi, Brazilian Brokerage Goes Crypto

Cryptocurrency exchange Binance is making good on its promises to expand globally – focusing on emerging markets and fiat-to-crypto trading services. Also in The Daily, Huobi founder and CEO Leon Li meets a Putin adviser in Beijing, a leading Brazilian brokerage firm shares plans to launch a crypto exchange, and digital assets management firm Altonomy caters […] The post The Daily: Binance Expands, Putin Advisor Visits Huobi, Brazilian Brokerage Goes Crypto appeared first on Bitcoin News.

2018-9-23 15:30


Фото:

The Daily: Binance Tests Fiat Exchange, Russians Mull Crypto Platforms

Binance, the leading cryptocurrency exchange, has announced it will start testing a fiat-to-crypto currency trading platform in Singapore and we’ve got the story in Sunday’s edition of The Daily. Also, two islands in Russia are competing to host the country’s first regulated exchange, and the ECB says Europe doesn’t need a central bank issued crypto.

2018-9-16 15:28


Binance Recognizes Africa as a Prime Target for a Blockchain Revolution

Binance is looking at Africa as the next frontier of growth, an executive at the world’s largest crypto exchange by daily trading volume has revealed. Benjamin Rameau, the Director of Binance Labs revealed the company’s reasons behind setting out to conquer Africa, with the relative underdevelopment in the continent and the great diversity being among […]

2018-9-6 21:00


Фото:

The Daily: Binance Tracker Available in Beta, New Crypto Exchange Ready in Two Weeks

Leading cryptocurrency exchange Binance has announced the launch of its new market intelligence app in beta. The mobile tracker is available for Android and iOS. Also in The Daily, an IT company offers a platform to build a crypto exchange in just two weeks, Shariah compliant trading platform promises to bring Muslim crypto enthusiasts into […] The post The Daily: Binance Tracker Available in Beta, New Crypto Exchange Ready in Two Weeks appeared first on Bitcoin News.

2018-8-20 14:09


Фото:

Binance To Launch FIAT To Crypto Exchange In Liechtenstein

Liechtenstein is one of the smallest countries in the world. With a population of 32,000 and an area covering just 62 square miles, Liechtenstein is a country with a lot of character. It’s also the world’s leading manufacturer of false teeth and now the new home of Binance LCX, a partnership between leading cryptocurrency exchange Binance and the Liechtenstein Cryptoassets Exchange (LCX), in a move that hopes to bring citizens in Liechtenstein the opportunity to access a local, but leading FIAT-Crypto exchange.

2018-8-17 13:30


Weiss Ratings: XRP — самый быстрый цифровой актив на крипторынке

Рейтинговое агенство Weiss Ratings пришло к выводу, что XRP является самой быстрой криптовалютой на рынке и служит лучшим вариантом для перевода средств между биржами, пишет The Daily Hodl. Также агенство выступило в поддержку добавления пары USD/XRP на Binance.

2018-8-13 10:59