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.
Maybe it's a trader's habit. Sometimes the color and appearance of exchange also affects the outcome of the transaction. Sometimes at Binance, they don't do as well as Coinbase, so they accept high fees at Coinbase. but most Americans trade at Coinbase, which is their country's exchange and they want to enrich them rather than CZ. Everyone is aware that Binance is now safe and has lots of options to trade.