Binance Could Overthrow Coinbase On The US Market

Binance could overthrow Coinbase from the United States market as the Malta-based exchange is continuously rising to the top. In today’s altcoin news we are reading more about the position of both crypto exchanges on the market.

Coinbase is still among the first place for many Americans to buy crypto but Binance is starting to surprise many Americans and it is slowly rising to the top.
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This is why the San Francisco based platform is taking steps not to be endangered by its competitor. The platform announced they will be adding eight new coins to their exchanges according to the recent blog post including Cosmos, Dash, Decred, Algorand, Matic Network, Ontology, Waves and Harmony.

Founded back in 2012, Coinbase had only four coins on its roster up to 2018. With only Litecoin, Ethereum, Bitcoin and Bitcoin cash in the system, Coinbase was known as the primary exchange during the 2017 bull run. Binance was off with its altcoin thing and creating a cryptocurrency which surprisingly skyrocketed ever since. This is one of the reasons that Binance could overthrow Coinbase. The CEO Changpeng Zhao founded Binance back in 2017 and made sure that he made a good impression. The exchange only needed up to 143 days to become one of the top exchanges in the world and now they are the first exchange by trading volume as we read in the latest cryptocurrency news previously.

Binance had a very successful initial coin offering of their BNB token which is now the most profitable coin in 2019. Lately, the exchange has also been making moves on their platform with Coinbase so they announced earlier they will even allow credit card purchases on their platform. CZ said that he also plans to add 5 to 10 fiat to crypto exchanges in 2019 especially ones meant for the US customers. In response, Coinbase also added new coins in order to get its new target audience which is the altcoin traders. If the coins are approved, Coinbase will now support 30 coins. This shows that Coinbase is also trying to appeal to a broad range of investors and traders.