Binance has just opened up using credit cards to buy BTC and ETH. I have used Coinbase because it’s been easy to buy my BTC there. One of the new pains about Coinbase is that they are charging a fee for international transfers on top of their normal transaction fee.
I’ll be using Binance to purchase my BTC from now on.
Coinbase is following Federal regulation. They want to be the place where institutional investors place their funds and trade. Everything they are doing is to comply with tax codes and trading regs. I’m betting they will be applying the same rules used in trading stocks to trading Crypto’s. Rules like wash rules.
If one is new to crypto Coinbase is a good place to start. It does offer storage protection and FDIC insurance for up to $200,000 of losses. BUT, if you have not properly secured your tokens you wont be insured against losses that will be attributed to your failure to secures your assets. Sounds strange when they say that your risk is 3% as 97% of your assets are moved off site. Basically 97% is in cold storage. This imply’s that only 3% is ever at risk.
If I’m holding tokens that Coinbase is supporting then I have no problem parking them there for easy access. Especially if they were bought elsewhere. It’s a tax headache to buy BTC at Coinbase transfer it to Binance and then buy something else.
IF Coinbase ever gets their ducks in a row and adds additional tokens that can easily be purchased directly rather than by using a takible transaction with BTC I’l be happy to use their platform. I have absolutely not problem with paying Uncle Sam his pound of flesh.