The crypto space seems to be on a never ending surge. If not in price, then the news most certainly is. The two titans in the industry, Coinbase and Binance, are going head to head with each other trying to expand faster than the other. Today, Coinbase inches a little be closer to pulling ahead of its biggest rival.
Coinbase in Canada
Recently through r/cryptocurrency, a Reddit user posted about Coinbase now available via paypal in Canada. This is great news seeing how paypal can effectively be linked to a credit card, thus enabling Canadians to purchase cryptocurrency more efficiently once deposits are enabled. Currently, this feature is for withdraws only, but we can speculate that this will only be the case for a short amount of time.
The reason credit purchases are so important is that it enables natural leverage for traders interacting on the Coinbase platform in that region. With the additional funds, traders and speculators can have a larger impact on the market where as before, it was not as easy.
Canada has not received a large amount of news in regards to the crypto scene. Although, there is a substantial amount of mining facilities taking advantage of the cool air and cheap infrastructure costs in the region. To no surprise, there are numerous groups and organizations dedicated to promoting blockchain in Canada. Most notably would have to be Blockchain Canada, which has a host of team members and partners to speak of.
Margin Trading Coming To Coinbase and Binance
With Binance recently showing off their margin trading platform, it is only natural for Coinbase to strive to do the same soon.
This is speculation, but there have been mentions and discussions about Coinbase heavily looking at enabling margin trading. This would mainly be to encourage brokers and traders to utilize their platform. Additionally, CEO Brian Armstrong recently commented in the past weeks on this very topic.
He stated that debit margin trading is one of the most requested options from traders. The main problem is that regulatory issues persist with these options. Unfortunately as of today, there is no real movement yet on the platform towards this requested feature.
Coinbase or Binance
Regardless of the availability, Binance still seems to be the better trading platform with lower fees, better insurance protocols and constant growth. Coinbase is a close second, and really shines when it comes to fiat to crypto trading pairs. If you seek to liquidate your position into fiat, then Coinbase is a must use no matter which platform you like. If you are comfortable with hedging your gains into a stable coin like tether, then you will do just fine trading on Binance.