I don’t understand the advantage of using Coinbase vs other crypto platforms like Voyager, Binance, Crypto.com or Gemini. It seems that Coinbase(incl. Pro) has the highest fee among all of them. Why would people choose Coinbase?
It's the one with the most word of mouth buzz, and most people just use the first thing they hear about without shopping around.
Yeah if that’s the case it seems to be such a dumb reason to pay so much more in fees.
It’s the security of the network. I can’t speak for competitors but Coinbase seems solid.
Right if you don’t frequently trade and just leave the coins in your Coinbase wallet. If you do trade frequently, you’ll be screwed up so much by the fees. Also if you withdraw to your own wallet, then it also doesn’t matter for security.
Good point. 👆🏼
People trust Coinbase,
Use coinbase pro, I've heard they have lower fees
That’s the problem. People just “hear” from others and never go ahead and compare by themselves. Even the pro version still has higher fees.
Coinbase pro has reasonable fees and is generally more trusted than the others, that's about it. A public SF company vs an international lesser known exchange.
What’s the difference between coinbase and coinbase pro?
First mover advantage - they have no moat - eventually unless they build their own defi product they won’t be able to compete on ui/offering once people catch up - liquidity is a non issue
Coinbase pro fees are not that bad. I also trust Coinbase more than any other exchange. If I were to use any other, I'd try Gemini, but at that point, moving everything over and setting it up securely is too much hassle.
For buying Bitcoin and sending direct to cold storage, Strike is the best. No fees.
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I think it has cleanest UI and easiest to use. Same reason people put up with Robinhoods BS
I don’t think UI is good at all TBH… for example, my phone’s screen is smaller and the amount number on order screen can’t display in full if it’s more than 2 digits…