PrimeXBT vs Coinbase - Which is the Best

Everyone has long heard of two popular crypto-exchanges - PrimeXBT and Coinbase. They have a lot in common, but at the same time a lot of differences. In this article, we compared PrimeXBT vs Coinbase on the most important criteria and found out which exchange is better.

Advantages and disadvantages of PrimeXBT

Advantages and disadvantages of Coinbase

About PrimeXBT Exchange

PrimeXBT is a simple and safe trading platform that has a lot of features. It will be interesting to both new traders and the experienced. If a platform has a high number of transactions and accepts extreme loads, it's probably an indication that it's performing well. PrimeXBT is known for their strong performance and accuracy - two factors that are prime indicators of its value.

About Coinbase exchange

Coinbase was founded in 2012, with offices in San Francisco. It offers its customers a secure place to keep their cryptocurrencies as well as a platform for trading.

The second largest exchange in the world offers two major options to its users: buying and trading virtual assets and having a cryptocurrency wallet. As of September 2022, the platform had about 89 million users from more than 100 countries. In March 2019, there were over 112 million active users and the daily users number had grown to 2 billion.

Comparative analysis of PrimeXBT and Coinbase exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

PrimeXBT offers: 

Coinbase offers:

Available countries

PrimeXBT and Coinbase exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries. 

Payment methods

You can fund your PrimeXBT and Coinbase account with a bank card, PayPal or cryptocurrency.

Card Support

All types of bank cards from supported countries are available on PrimeXBT and Coinbase.

Available Cryptos and Tokens

PrimeXBT currently supports 46. 

Coinbase supports 533 trading pairs and 219 coins.

Regulation

There is no information about the PrimeXBT regulation and the corresponding license.

Coinbase is regulated in the United States and also seeks licenses in other states where this is possible. Coinbase is currently licensed to conduct money transfers in most U.S. jurisdictions.

Most of Coinbase's remittance licenses cover U.S. dollar wallets and transfers. In some states, money transfer licenses also cover cryptocurrency wallets and transfers within the platform. Other states do not require a digital money transfer license.

Coinbase is also registered as a money services business with FinCEN.

Interface

The interface of the exchanges is quite convenient and clear. Any user can immediately understand all the functions. Do not worry, if you do not understand something, you can always see the training and tips.

Verification (KYC)

PrimeXBT is known for its anonymity. No verification is required to use all functions.

Creating a user account on Coinbase only allows you to use an online cryptocurrency wallet. In order to make conversions and trade, earning on price differences of exchange assets, it is necessary to verify an account in the system. In other words, it is required to enter contact information with its documentary proof. This option is not available for all countries.

Account deposit

Exchanges offer the following options for funding the account:

Comparison of Trading Fees

PrimeXBT:

Coinbase:

Account security

PrimeXBT ensures safety of its users' assets by means of the following measures: after each executed order a full check of system risks is performed, digital assets are stored offline by Multisig technology, traffic is protected by SSL-encryption, Cloudfare protects against DDoS and other distributed attacks, a white list of BTC-purses is used, two-factor authentication can be connected to access an account

On Coinbase, your password, confirmation by text message, and two-factor authentication settings will help you manage protection. You can also get protection settings that work at a certain level.

Passive earn on exchanges

Open free account at PrimeXBT. The process takes less than 40 seconds. Simply deposit funds, select the amount you want to stake and click “Stake now” button. Sit back and enjoy passive income! You can add or withdraw funds at any time.

Coinbase has Ethereum 2.0, Tezos, Cosmos, Solana, Algorand, Cardano cryptocurrency stacking feature with yields up to 6% p.a. (varies).

Which to choose - PrimeXBT or Coinbase

Of course, the choice of exchange depends only on you. But in this pair Coinbase is better by almost all parameters. But PrimeXBT showed decent competition. This exchange has very low commissions and user-friendly interface.

Disclaimer:

Crypto trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

FAQs

Where is PrimeXBT registered?

PrimeXBT is registered as a legal entity in the Republic of The Marshall Islands with registration number 86967. PrimeXBT is authorized and regulated by the RMI Financial Commission.

Is Coinbase the safest crypto exchange?

Coinbase takes security seriously. They operates their business in a compliance-first manner and areridges the gapf between the traditional financial system and the crypto economy. For example, they are one of only a handful of companies that have obtained a Bitlicense from the New York State Department of Financial Services (NYDFS), which regulates virtual currency businesses. In addition, Coinbase maintains comprehensive insurance coverage for all digital assets held in our custody.

Is Binance safer than Coinbase?

Binance is definitely a safer option than Coinbase. Binance is a regulated company with extensive security measures in place, while Coinbase has had a number of high-profile security breaches in the past. Binance also offers a wider range of cryptocurrencies than Coinbase, making it a better choice for investors looking to diversify their portfolio.

Is PrimeXBT regulated?

No, PrimeXBT is not regulated. This means that there are no official rules or regulations governing how PrimeXBT operates. This also means that there is no guarantee that your funds will be safe if you choose to invest in PrimeXBT. It is important to remember that when you invest in any form of cryptocurrency, you are taking on a high level of risk.

Conclusion

Both exchanges boast a long life and reliability. When choosing a crypto exchange for yourself, consider the factors that are important to you. PrimeXBT and Coinbase deserve the attention of all crypto-investors.