Phemex and Coinbase, two major centralized exchanges for cryptocurrencies, will compete against one another in 2023. Both platforms have developed along with the cryptocurrency market by adding new features and opportunities for investors of various experience levels. Let’s compare the two!
Phemex is a well-liked option for new traders thanks to its user-friendly interface and affordable trading fees. However, Coinbase attracts more seasoned traders due to its reputation for security precautions and the variety of cryptocurrencies it offers.
It’s crucial to look into a number of aspects when deciding which platform is best for you, including features, prices, security, the number of cryptocurrencies offered, and more. We will thoroughly compare both platforms in this article so you can make the right decision for 2023.
An Introduction to Phemex
Phemex is a centralized cryptocurrency exchange (CEX) and a trading platform where users can buy, sell, and trade cryptocurrencies with up to 100X leverage. It was founded in Singapore in 2019 by 8 individuals who all used to work for Morgan Stanley.. The platform has grown very fast in a short amount of time, boasting more than 5 million registered users, $32 billion in 24-hour daily activity, and hundreds of cryptocurrencies available for trade. Phemex is a comprehensive CEX that offers users a variety of trading alternatives and reasonable pricing. Its platform matches your investing needs whether you’re a beginner, an intermediate trader, or an expert trader.
The Most Efficient Crypto Trading and Investment Platform
An Introduction to Coinbase
Coinbase was one of the first cryptocurrency exchanges, launched in 2012 by Brian Armstrong and Fred Ehrsam, to allow users to buy and sell crypto. Coinbase is a US-based platform available in over 100 countries, with over 103 million verified users, and has a quarterly traded volume of $217 billion. With an easy-to-use app and over 200 cryptocurrencies to choose from, Coinbase has become a popular exchange amongst the investor community. In 2022, Coinbase announced it was discontinuing its professional trading platform, Coinbase Pro, and merging it with existing services to have everything under one roof.
Phemex vs Coinbase 2023: Quick Glance
Phemex and Coinbase are both crypto exchanges and derivatives trading platforms. Both platforms have a similar variety of cryptocurrencies available to choose from, but Phemex has an edge when it comes to its incredibly low fees. Coinbase is notorious for not being transparent in its fee structure until you preview the trade. Coinbase however excels when it comes to its simple and minimal interface which is perfect for beginner investors.
This is where both stand at the beginning of 2023:
| PHEMEX | COINBASE | |
| Access | Over 110 countries | Over 100 countries |
| Features | Multiple trading interfaces, Multiple order types, Sub accounts, Earn rewards, Staking, Low fees, Copy trades, Top gainers, New listings, Custom API keys, Phemex Academy, VIP program, Mobile app, Derivatives, Online chat, and email support. | Simple interface, Advanced trading interface (replaces Coinbase Pro), Recurring buys, Staking, Custom API keys, Coinbase Learn, Mobile app, Derivatives, NFT marketplace, Crypto loans, Coinbase card, and Crypto gifting. |
| Cryptocurrencies | Over 250… |
Rebecca is a crypto investor and content writer based in the UK.
She specializes in breaking the news into bite size pieces and simplifying investing topics.
You will find her on Twitter and Instagram providing crypto and investing education.
