This paper summarizes some of the relevant features exhibited by binary mixtures of Bose-Einstein condensates in the presence of coherent coupling at zero temperature. The coupling, which is experimentally produced by proper photon transitions, can either involve negligible momentum transfer from the electromagnetic radiation (Rabi coupling) or large momentum transfer (Raman coupling) associated with spin-orbit effects. The nature of the quantum phases exhibited by coherently coupled mixtures is discussed in detail, including their paramagnetic, ferromagnetic, and, in the case of spin-orbit coupling, supersolid phases. The behavior of the corresponding elementary excitations is discussed, with explicit emphasis on the novel features caused by the spin-like degree of freedom. Focus is further given to the topological excitations (solitons, vortices) as well as to the superfluid properties. The paper also points out relevant open questions which deserve more systematic theoretical and experimental investigations.