This article will look at the Best Alternatives To Coinbase. The first thing is to find platforms with low transaction charges; many supported cryptocurrencies and advanced trading tools.
Strong security measures, easy-to-use interfaces, and excellent customer service should be your focus when looking for alternative services.
These factors will help you get a dependable yet affordable option for your cryptocurrency requirements to improve your trading experience.
Key Point & Coinbase Alternatives List
| Exchange | Key Point |
|---|---|
| Binance | Offers a wide range of cryptocurrencies and high liquidity |
| Bybit | Focuses on derivatives trading with competitive fees |
| Bitget | Known for copy trading and user-friendly interface |
| Kraken | Specializes in margin trading with high-leverage options |
| KuCoin | Supports a large number of altcoins and staking options |
| CoinW | Known for its global presence and innovative products |
| Gemini | Highly regulated, prioritizing security and compliance |
| BitMEX | Specializes in margin trading with high leverage options |
| Phemex | Offers zero-fee trading for premium members |
| Pionex | Integrates built-in trading bots for automated trading |
10 Best Alternatives to Coinbase
1. Binance
Binance is often considered for a host of reasons to be the best alternative to Coinbase. In contrast to Coinbase, which focuses mainly on beginner needs through its easy-to-use interface and simple purchase/sale process, Binance provides an extensive range of services that appeal to newcomers and experienced traders.
Binance’s list of cryptos is way more extensive than what can be found on Coinbase, ensuring access to numerous altcoins.
Moreover, Binance charges a significantly lower commission fee for trading, which is essential for frequent traders.
Because of its robust security measures, high liquidity levels, and extensive learning materials, Binance offers a flexible, cost-effective trade environment that can be a suitable alternative to Coinbase.
Binance Pros & Cons
Pros
- Huge Variety: On Binance there is a broad selection of cryptocurrencies.
- Crypto trading fees are low: Binance has very competitive fees on trades.
- Great Staking Opportunities: It’s possible to stake different coins on this platform.
Cons
- Significant Regulatory Concerns: The exchange faces regulatory challenges.
- No USD Deposits Accepted: You cannot deposit your US dollars into Binance.
2. Bybit
Bybit is an essential alternative to Coinbase, especially for futures contracts and refined trading possibilities.
While Coinbase focuses on providing an easy-to-use platform for beginners who want to buy and hold cryptocurrencies, Bybit targets a different audience, highlighting futures and leverage.
For specific crypto pairs available on the exchange, Bybit offers as much as 100x more leverage than the principal amount invested.
Compared to Coinbase, this platform has a reputation for having relatively lower fees that are pretty competitive, especially for high-volume transactions.
It also provides a reliable trade interface with cutting-edge tools, including customizable charts and real-time market data.
As such, Bybit makes an excellent choice for those in need of more complex trading alternatives than those available at Coinbase given its unique offerings and effective cost structures.
Bybit Pros & Cons
Pros
- Low Trading Fees: Bybit has some of the most competitive trading fee structures.
- Advanced Functionality: The platform is equipped with excellent tools for professional traders.
- Mobile Trading App: On-the-go traders can use a conveniently designed mobile application.
- Up to 100x Leverage: High leverage can be used to gain good money for your trades.
Cons
- Steep Learning Curve: It may seem hard for newcomers since Bybit is complicated
3. Bitget
Bitget is a superior alternative to Coinbase, notably for traders who want a platform focusing on copy trading and simple features.
The simplicity and ease with which users can acquire and hold cryptocurrencies have been the key selling points for Coinbase and its most notable attribute. In this light, Bitget has invented a new concept in the form of copy trading.
This feature allows users to track and mimic the strategies used by successful traders, hence making it suitable for beginners or those who prefer not to be actively involved in trading.
Furthermore, Bitget deals with various digital currencies, providing more opportunities for investment diversification than Coinbase.
Moreover, Bitget charges are competitive such that they tend to be lower than those of Coinbase, thereby leading to significant savings among frequent traders.
With unique offerings to widen accessibility and efficiency during trade, Bitget provides a robust alternative solution to Coinbase for learners and experienced forex market participants.
Bitget Pros & Cons
- Massive Array of Cryptocurrencies: Bitget provides trading for more than 600 cryptocurrencies.
- Copy Trading and Bot Trading Features: You can use copy trading and robot-assisted bot trading.
- Cryptocurrency Staking and Earning Products: It also has different earning products, such as staking.
Cons
- Not Available in All Countries: However, its availability varies by region and may not be available everywhere.
- Account Freezing Issues: Some users have reported account freezing incidents.
- High Fees for Crypto Purchases with Cards: For example, charges for purchasing crypto through cards can be somewhat excessive
4. Kraken
For many traders concerned about security and the variety of trading, Kraken is one of the best Coinbase alternatives.
In contrast to the beginner-friendly interface provided by Coinbase, Kraken offers more complex trading opportunities with a range of cryptocurrencies and, futures, margin trading.
Regarding safety, Kraken places it above all else and has an excellent track record and solid measures for protecting user assets.
Besides this advantage that frequent traders can enjoy from low fees compared to Coinbase, Kraken also supports numerous fiat currencies, making it helpful to people from all walks of life.
Additionally, newbies and experienced traders will find many resources at Kraken because they provide advanced tools for analysis.
The cost-effective combination of safety, functionality, and affordability appeals to Kraken, an alternative platform on top in America.
Kraken Pros & Cons
- Digital Assets Selection of Large: Kraken allows you to buy more than 230 different types of cryptocurrencies, having over 130 cryptocurrency trading pairs.
- Low Fees for Advanced Traders: Kraken Pro service is known for its competitive fees compared to other platforms.
- Sophisticated Features: Kraken Pro offers advanced tools like margin trading and staking.
Cons
- Funding Options Limited: U.S. customers have fewer options to put money into their accounts.
- Not Available in All US States: Not available in all states across the United States1.
- High Fees for Buying in USD: The charges for buying cryptocurrencies using American dollars can be relatively higher.
5. KuCoin
KuCoin is an excellent substitute for Coinbase, particularly for anyone looking for a wide range of digital currencies and diverse trading experiences.
However, Coinbase is well-loved due to its user-friendly interface and simplicity; however, KuCoin is more attractive to high-risk takers as it provides a long list of supported altcoins, most of which are unavailable on the coin base.
Furthermore, KuCoin has advanced trading options, such as margin and futures trading, that provide complex techniques for experienced traders.
Additionally, the fee structure of KuCoin is quite competitive, often below that of Coinbase, making it appealing to active traders who want to minimize costs.
The platform also offers different sources of earning money like staking, lending and KuCoin’s unique Spotlight token sale platform where users can join new and innovative projects.
With its robust security measures, high liquidity levels, and a comprehensive suite of tools for trade along with educational resources, tended towards all levels of experience in trading; this makes KuCoin serve as an adaptable, cheap alternative to Coinbase for both learners and experienced brokers.
KuCoin Pros & Cons
Pros
- Wide variety of coins: KuCoin offers a large number of cryptocurrencies.
- Affordable rate: The exchange charges less than other platforms.
- Secure Structures: This platform has a robust suite of security measures.
- Accrue Interest: One can stake and earn rewards on digital assets held in crypto.
Cons
- No US License: KuCoin is not licensed to operate in the United States.
- Complex Newcomer Website: For novices, some customers may find difficulty navigating through the site provided by KuCoin.
- Few Payment Options: In contrast to several other exchanges, KuCoin does not offer many payment options
6. CoinW
Cryptocurrency exchange platform CoinW is a fascinating substitute to Coinbase, particularly for traders who want a presence that spans the whole world and advanced offerings.
Coinbase is famous for its user-friendliness and directness in purchasing and selling crypto coins.
Nevertheless, CoinW presents unique propositions by providing various trading options and innovations.
It allows diverse kinds of cryptocurrencies, among them various nascent altcoins missing in Coinbase, giving investors more space to diversify their portfolios.
In several instances, CoinW’s fees tend to be lower than those of Coinbase, thus making the service very attractive, especially to the frequent traders in this market niche.
Security is also one of their core values as they take stringent measures to protect users’ assets from malfeasance activities that may come on board without the knowledge of such people involved, thus creating confidence among customers handling large sums.
CoinW is versatile and appealing compared to Coinbase based on its global outreach, innovative products as well as low-cost trading environment.
CoinW Pros & Cons
Pros
- Low Transaction Costs: CoinW charges futures and ETF transactions at a fair price and spot trading is without any charges.
- Various Coins And Tokens: The platform has many coins and tokens for its clients.
- Safety Of The Platform: CoinW is using modernized security protocols.
Cons
- Limited Customer Support: CoinW’s customer support is lacking.
- Unclear Legal and Regulatory Status: The platform’s legal and regulatory status in several countries remains unclear.
7. Gemini
Gemini is a remarkable alternative to Coinbase, mainly for security and compliance-conscious users.
The Winklevoss twins established Gemini with a “security-first” approach that introduces strong safety measures including two-factor authentication, cold storage, as well as regular audits.
Besides offering many popular digital assets, it supports different kinds of cryptocurrencies but not to the extent that some competitors do.
Gemini’s fee structure is competitive and allows interest-earning on held cryptocurrencies, among others, making it attractive to investors who want to maximize their returns.
On top of this, Gemini also provides several tools and resources, such as an advanced trading suite suitable for beginners and professional traders.
Regarding its commitment to conformity, safety, and teaching the client, it can be said that the company is an ideal substitute for the conventional central bank service provider Coinbase, which has undergone internal reforms to improve customer satisfaction.
Gemini Pros & Cons
Pros
- Various Kinds of Cryptocurrencies: Gemini gives you more than 80 digital currencies.
- It is accessible in all U.S. states: It’s available in 50 states, New York inclusive.
- User Friendly: Gemini has a simple interface for beginners.
Cons
- High fees: Comparatively to other crypto exchanges, Gemini charges higher fees.
- Unresolved Legal Issues: There are some unresolved legal issues regarding Gemini earn
8. BitMEX
BitMEX is an incredibly appealing alternative to Coinbase, particularly for those traders who want more advanced trading options and high leverage levels.
However, while Coinbase is famous for being beginner-friendly and easy to buy and hold cryptocurrencies, BitMEX aims at more sophisticated traders by offering derivatives and margin trading platforms.
It enables users to have 100x leverage which can lead to substantial potential profits that are not possible on Coinbase.
On the other hand, it has a reasonable fee structure that enables high-frequency and high-volume trades, making it cost-effective compared to its competitors in the same market niche.
Besides, BitMEX comes with a user-friendly interface with several advanced tools, live feeds, and customizable charts that facilitate the proper implementation of complicated strategies by investors.
Even though BitMEX has a stiffer learning curve than most cryptocurrency exchanges in the market, it compensates through massive amounts of educational resources provided together with a supportive community behind it.
BitMEX Pros & Cons
Pros
- Deep Liquidity: BitMEX offers Bitcoin perpetual contracts that have excellent liquidity.
- Charging Low Trading Fees: Competitive trading fees are charged by the platform.
Cons
- BitMEX Only Supports Limited Cryptocurrencies: It supports only a few cryptocurrencies.
- No Fiat Support: You can only trade cryptocurrency pairs on the platform.
- Inaccessible to US Residents: US-based investors cannot gain access to BitMEX.
9. Phemex
Coinbase’s alternative, Phemex, is a notable choice for zero-fee trading and better trading options.
Coinbase, on the other side, offers an easy-to-use interface that targets beginners, whereas Phemex offers more sophisticated trading systems that account for starters and professionals alike.
Zero fees on spot trades for premium members are one of the most distinguishing features of Phemex which can yield significant savings in costs for active traders.
Moreover, Phemex supports numerous cryptocurrencies and has advanced trading capabilities like perpetual contracts with high leverage, enabling traders to optimize their return potential.
The platform has robust security measures such as multi-signature cold wallets and top encryption, guaranteeing the safety of user assets.
Consequently, Phemex is an attractive option to Coinbase because it combines low-cost transactions with superior functionality and tight security.
Phemex Pros & Cons
Pros
- Wide Variety of Spot Crypto Assets: Phemex has 350 spot crypto assets in 578 markets.
- Low Fee for Contract Trading: The makers’ fee is as low as 0.018%, and the takers’ fee starts at 0.055%.
- Full Range of Trading Tools: It consists of live order books, various types of orders, and TradingView charting tools.
Cons
- The P2P marketplace is limited: The P2P market only allows USDT, BTC, and ETH.
- Old-Fashioned User Interface: It needs an upgrade in terms of the look and feel.
10. Pionex
An alternative to Coinbase is Pionex, a platform that focuses on automated trading with integrated trading bots.
While Coinbase’s strength lies in its simplicity and ease of use in conventional buying and selling cryptocurrencies, Pionex targets traders who want to automate their strategies and optimize trading efficiency.
There are several types of trading bots offered by Pionex for users who can auto-trade based on pre-set parameters and market situations.
Both beginners keen on learning and experts seeking ways to improve their trading tactics will find this automation an effective tool.
This has seen them support a range of cryptos as well as offer highly competitive fees for traders who trade actively.
It is distinctive from other platforms, such as Coinbase, because it highlights automation, offers several digital currencies, and provides strengthened security characteristics.
Pionex Pros & Cons
Pros
- Liquidity Engines: Pionex accumulates liquidity from Binance and Huobi.
- Low Fees: Trading fees are competitive at 0.05% maker and taker.
- Crypto Derivatives: With futures trading, Pionex allows for crypto derivatives.
- Purpose-Built Platform: Backtesting capabilities and fast execution speeds.
- Trusted Brand: Well-regarded in the crypto space.
Cons
- Regulatory Oversight: Weak regulatory oversight could cause safety concerns.
- Withdrawal Fees and Limits: Some withdrawal fees and limits apply.
- Limited Contact Options: Pionex has limited contact channels.
- No Fiat Deposits: They do not accept fiat deposits
What should I look for in a Coinbase alternative?
Security and Trustworthiness
Ensure the platform has a solid security base such as 2FA, cold storage for digital assets, encryption protocols, and no record of significant security breaches. Trustworthiness is essential in cryptocurrencies.
Comparison to Other Platforms
Compare trading fees, withdrawal charges, and other costs. Some platforms have lower trading fees or even nothing for select trades, saving massive amounts, mainly if you are an active trader.
Cryptocurrency Variety
Search for sites that accommodate more types, leading ones, and even those emerging new coins. This enhances your ability to diversify and opens up possibilities to invest.
Trading Tools Availability
Evaluate whether advanced trading tools like futures contracts, margin trading, staking of altcoins, loans on crypto assets, and automated trading bot exists. These can give experienced traders more flexibility.
User Experience
An efficient trade would require a platform that is friendly to use because of its interface’s simplicity.
The ease of navigation should be guaranteed by the user-friendliness of the site you are using, irrespective of whether you are just beginning in the business or are already used to it yet want help to improve how to trade across different devices from one place.
Customer Support Services
For this reason it is necessary to deal with dependable customer issues consultants who will resolve the matter quickly.
In addition, such things as training materials, market analysis, tutorials, and community support create an opportunity for well-thought-out trading decision-making and skill enhancement.
Conclusion
In conclusion, the best alternative to Coinbase can be found by considering several vital aspects to ensure the selected platform caters to your needs and wants.
Whether you’re interested in having some trading features with advanced options, getting fewer fees charged on funds or a wide range of digital coins for trading, or seeking security assurance, this can be done by applying Binance, Kraken, KuCoin, BitMEX, Phemex, Bybit, Bitget, CoinW, Gemini and Pionex.
These platforms have various advantages, such as offering trading tools that are highly sophisticated, innovative products, and fee structures that are competitive, making them promising alternatives to Coinbase for those who want to spread beyond its operations in cryptocurrency trade.
Ultimately, your best choice depends on what you hope to achieve when you trade cryptocurrencies, their proficiency threshold, and your desire for functionalities.
