Looking for an alternative to Coinbase for your cryptocurrency trading needs? While Coinbase is a popular choice, there are several other platforms that offer unique features, competitive fees, and robust security measures. In this article, we’ll explore the top 10 websites like Coinbase that you can consider for your crypto trading journey.
Key Takeaways
- Binance offers a wide range of cryptocurrencies and is known for its low trading fees.
- Kraken is praised for its comprehensive security measures and extensive range of supported cryptocurrencies.
- Crypto.com provides excellent debit card rewards and supports a variety of cryptocurrencies and fiat currencies.
- Gemini is highly regarded for its strong security features and availability in multiple regions.
- Uphold supports a wide range of cryptocurrencies and precious metals, making it a versatile trading platform.
1. Binance
Binance is the world’s largest exchange by volume, and is a great option for investors based outside of the US! Binance offers 0.1% fees on spot trading, which makes it one of the cheapest options on the market! Note: Binance.us is the US-version of the platform and has limited coins and tokens to invest in versus the international version of Binance.
Pros
- Huge amount of supported coins and tokens
- Fast transactions times
- Low fees
Cons
- U.S. has limited options compared to worldwide
- Not available in all 50 states
- Limited customer support
Features
Binance requires a $10 minimum deposit, supporting fiat, PayPal, and direct bank transactions. It accepts credit/debit cards and handles a wide range of fiat currencies, including USD, EUR, AUD, UGX, and more. Binance boasts 600+ cryptos, with support for NFTs, dApps, margin trading, and DeFi capabilities.
2. Kraken
Kraken is a well-established cryptocurrency exchange known for its low fees and robust security features. It supports a wide range of fiat currencies including USD, AUD, EUR, JPY, and GBP, making it accessible to traders worldwide. Kraken offers over 65 cryptocurrencies and supports NFTs, dApps, and DeFi projects. However, it does not provide margin trading.
Features
- Minimum deposit of $10
- Supports fiat deposits, direct bank transfers, and credit/debit card payments
- Offers two platforms: Kraken and Kraken Pro
- Tiered fee structure for high-volume traders
- Professional platform with customizable chart analysis tools and detailed order books
Fees
Kraken’s fee structure is designed to benefit high-volume traders. For those with 30-day volumes of less than $10,000, Kraken Pro’s maker fees start at 0.25% and taker fees start at 0.40%. However, maker fees can drop as low as 0%, and taker fees can drop to 0.10% for traders with 30-day rolling volumes of over $10 million.
Security
Kraken is renowned for its strong security measures, which include two-factor authentication (2FA), cold storage for the majority of its assets, and regular security audits. This makes it a reliable choice for traders concerned about the safety of their funds.
Regulation
Kraken operates in compliance with various regulatory requirements and has been proactive in engaging with regulators. Recently, the US SEC took legal action against major crypto exchanges like Binance, Coinbase, and Kraken, signaling a new era for cryptocurrency regulation.
3. Crypto.com
Crypto.com is one of the world’s most famous cryptocurrency exchanges. The platform is renowned for offering generous debit card rewards, providing users who stake CRO (Crypto.com’s cryptocurrency) up to 5% in crypto cashback rewards. Crypto.com provides a very good selection of cryptocurrencies, with more than 250 available. However, the platform has faced criticism due to unresponsive customer support. If you are looking for an excellent mobile crypto trading experience, Crypto.com is arguably the best option thanks to its range of products and features, as well as its large number of supported assets.
4. Gemini
Gemini is another big name in the cryptocurrency exchange sphere. Founded in 2014 by none other than the Winklevoss twins, Gemini has managed to solidify its position in the charts with more than USD 175 million in trading volume generated. Not only that, but the Winklevoss brothers also launched the Gemini Dollar token.
Trading Fees
Gemini offers competitive trading fees with a 0.2% Maker Fee and a 0.4% Taker Fee. For active traders, the fees range from 0.0% to 0.40%, while most transactions on the regular platform incur a 1.49% fee.
Tradable Coins
On Gemini, you can trade over 70+ cryptocurrencies, including popular options like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Security
Gemini is best known for its robust security measures. It is a fully regulated exchange, which helps to legitimize cryptocurrencies worldwide. This makes it a safe haven for your crypto assets.
5. Uphold
Uphold is a versatile platform that allows users to buy, trade, and hold a diverse range of assets, including over 250 cryptocurrencies, traditional currencies, and precious metals. With a user base exceeding 10 million across 150 countries, Uphold is known for its user-friendly platform and transparent operations. The platform operates on a 100% reserve model, ensuring that user funds are safeguarded and providing real-time asset and liability data updated every 30 seconds.
Pros
- Simple and transparent pricing structure
- Lots of crypto tokens and even some stocks, including popular ones like XRP
- Both desktop and mobile apps
Cons
- Not as easy to use as some on this list
- Some reports of poor customer service
Fees
Uphold offers a 0.8% maker fee and a 1.5% taker fee. Deposits via debit/credit card and Google and Apple Pay are subject to a 3.99% fee. Withdrawals are free with a 0% fee, except for withdrawals to a debit card where the fee is 1.75%. The minimum transaction value is set at $1 for all trades. There is a $0.99 fixed fee for trades under $500.
6. Robinhood Crypto
Robinhood Crypto is a platform that helps you to buy and sell Ethereum, Dogecoin, and Bitcoin. It allows you to customize your pieces of different companies and funds. Robinhood has become one of the most popular brokerages in the U.S., thanks largely to its easy-to-use trading app that can make investing appear very simple.
7. Bitcoin IRA
Bitcoin IRA is a little different than the other platforms here. Unlike most exchanges and wallets, you’re basically just exchanging currency and are subject to paying taxes on your gains. With that being said, Bitcoin IRA combines the best of being a crypto wallet and exchange, with also being an IRA. That means that your gains inside the account are tax free or tax deferred.
Bitcoin IRA is one of the largest and most secure cryptocurrency IRA platforms used by thousands of clients. You can easily buy & sell crypto on this 24/7 self-trade platform. It is a crypto trading platform that connects consumers to qualified custodians, digital wallets, and cryptocurrency exchanges.
Pros
- Invest in cryptocurrency inside your IRA
- Ability to earn interest on your crypto inside your IRA
- High security options
Cons
- High fees
- High minimums
- Doesn’t support as many tokens and coins as other platforms on this list
8. PrimeXBT
PrimeXBT stands out with its no minimum deposit policy and supports a variety of payment methods, including fiat deposits, PayPal, direct bank transfers, and credit/debit card payments. It accepts major fiat currencies such as EUR, USD, GBP, CAD, AUD, and more while offering a selection of 40+ cryptos. The versatile platform supports NFTs, dApps, margin trading, and DeFi. Trading fees are set at a competitive 0.05%, and there’s no charge for buying crypto.
9. CEX.IO
CEX.IO is a platform that helps you to buy and sell Bitcoins. It allows you to deposit funds using MasterCard, Visa card, or PayPal Debit MasterCard. This online program follows scalping and frequency trading strategies to secure assets and data. CEX.IO charges low trading fees compared to many major competitors and does an excellent job with platform security. However, CEX.IO’s features are limited for advanced trading needs.
Supported Cryptocurrencies
CEX.IO provides access to 115 cryptos and offers margin trading. Users can trade USD for Bitcoins, Ethereum, and XRP. It supports various fiat currencies like ZRX, 1INCH, AAVE, AKRO, ALPHA, and APE, among others.
Fees
CEX.IO imposes a 7% trading fee and a 2.99% fee for purchasing crypto. Despite these fees, the platform is known for its low trading fees compared to many major competitors.
Security
CEX.IO protects against DDOS attacks using full data encryption. It also offers downloadable reports showing real-time balance and transaction history, ensuring a secure trading environment.
Accessibility
CEX.IO supports platforms like mobile devices and websites. It provides service in more than 35 states of the USA, making it a versatile option for many users.
10. eToro
eToro is a relative newcomer to the U.S. market, offering a crypto exchange with trading in 27 cryptocurrencies, as well as an online brokerage platform with access to a limited selection of stocks and exchange-traded funds (ETFs). The platform offers an engaging communal experience where users can copy the trading strategies of advanced users. Cryptocurrency holdings may be transferred off the platform, providing flexibility for traders.
Pros
- Worldwide options for trading crypto
- Ability to copy other traders’ portfolios
- Low minimums to start
Cons
- Limited options in the United States
- Only available in 41 states
- Doesn’t support as many tokens and coins as other platforms on this list
eToro is a leading social trading platform that allows users to trade a variety of financial instruments, including cryptocurrencies. With its user-friendly interface and innovative features, eToro makes trading accessible to both beginners and experienced traders. For more insights and the latest updates on trading strategies, visit our website and stay ahead in the crypto world.
Conclusion
In conclusion, while Coinbase remains a popular choice for cryptocurrency trading, there are numerous alternatives available that cater to different needs and preferences. Whether you prioritize low fees, security, a wide range of cryptocurrencies, or additional features like trading bots and crypto IRAs, there is an option out there for you. Platforms like Kraken, Binance, Gemini, and Crypto.com offer robust services that can meet the demands of both novice and experienced traders. By exploring these alternatives, you can find a platform that best aligns with your trading goals and offers the features that matter most to you.
Frequently Asked Questions
What is the best alternative to Coinbase for cryptocurrency trading?
The best alternative to Coinbase can vary depending on your needs. Binance is often recommended for its wide range of cryptocurrencies, while Kraken is praised for its security features.
Are there any platforms with lower fees than Coinbase?
Yes, platforms like Binance and Crypto.com are known for offering lower trading fees compared to Coinbase.
Which platform is best for beginners?
Gemini is often recommended for beginners due to its user-friendly interface and strong security features.
Can I trade cryptocurrencies other than Bitcoin on these platforms?
Yes, platforms like Binance, Uphold, and Crypto.com offer a wide range of cryptocurrencies beyond just Bitcoin.
Is it safe to use these Coinbase alternatives?
Most of the listed alternatives, such as Kraken and Gemini, have strong security measures in place. However, it’s always important to do your own research and ensure you’re comfortable with the platform’s security features.
Do these platforms offer customer support?
Yes, most of these platforms offer customer support, but the quality and responsiveness can vary. It’s advisable to check reviews and possibly test the support yourself before committing to a platform.
