Hello. I am having a hard time understanding why anyone would use Coinbase Pro for trading compared to Binance. What am I missing?
Coinbase Pro's fees are 0.5% for transactions below $10k. Binance charges 0.1%, or 0.075% if you have BNB. So if you made a $5,000 trade you would pay a $25 fee on Coinbase Pro and a $3.75 fee on Binance. What am I missing here? Why would anyone trade on Coinebase over Binance? How can they be competitive charges such high fees? Thanks.
Coinbase Pro offers you to withdraw money to your bank? You might be forgetting but coinbase is an american company and because of that they have a lot of connections with a lot of banks and they could literally withdraw money to their banks whenever they want to.
So, a person who is an american citizen could send money from their bank to coinbase pro and use it to buy bitcoin and trade with it however they want, make it go back to fiat and ask it to their own personal bank account without using anything else, just their bank and coinbase pro. Of course, some people may prefer coinbase pro for some other reason as well but this is by far the biggest reason, they are the biggest local exchange in the whole world, so big that it rivals global altcoin trading places as well.