best alternative to Coinbase

7 Best Alternative To Coinbase For Trading Cryptocurrencies

This article will lead to the best alternative to Coinbase, Top cryptocurrency exchanges that have merited a good name, they are secure to use, accessible in many countries and are the best alternative to Coinbase.

Coinbase is unquestionably the best cryptocurrency exchange out there that support fiat to crypto payments, allowing crypto buying spontaneously from your bank account, debit or credit cards, Paypal, and many more options.

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Coinbase is surely top exchange but why people are interested in the best alternative to Coinbase?

There are a few foremost reasons that are the basis of the search for the best alternative to Coinbase.

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No Proof of Reserves

Considering Coinbase a safe exchange, many people store their coins on Coinbase, Coinbase may use such large sum of coin holdings for trading or market manipulation as they do not provide any proof of their reserves.

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Coinbase Fees

Coinbase fees are much higher than other cryptocurrency exchanges.

There are costly fees on withdrawal and depositing, Such high fees are the chief concern for most maximum users that are seeking for the best alternative to Coinbase.

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Coinbase Downtime

Coinbase frequently goes down when the market shifts sharply. This is such an irritating part of Coinbase performance.

Most traders and holders when hurrying to Coinbase during high volatility regularly found Coinbase down, depressed, and disturbed with Coinbase, users are left with no option than to search the best alternative to Coinbase.

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Coinbase Monitoring

Cryptocurrencies are packed with scammers, Monitoring user behavior on the exchange, their deposit, and withdrawal methods and addresses are fundamental for protection but Coinbase goes to much in monitoring.

Coinbase asks their customers a lot of questions, on their answers, they ban their accounts or restrict their withdrawal limit which makes users furious.

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Coinbase Availability

Coinbase is present in very limited countries, Coinbase composition is more like a bank than a cryptocurrency exchange, they are not at all decentralized.

Fewer countries served, mean fewer customers, and stringent rules and high fees on Coinbase are making the present users hunt for the best alternative to Coinbase.

Also Read: Cryptohopper Trading Bot Review

Main Points in Choosing Crypto Exchange

If you are not loving Coinbase and are examining for the best alternative to Coinbase, Then there are some principal points that you need to contemplate before deciding any other crypto exchanges.

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Reputation

Before choosing any exchange you must weigh what is the character of exchange you are picking to use.

Search Twitter, Facebook groups, crypto forums to uncover what other people are talking about that exchange.

Entirely trust top exchanges that are running legally, following FATF rules, and doing KYC.

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Security Level

Security is the most influential matter in cryptocurrencies. If an exchange cannot guard your funds, there is no doubt any necessity to put your digital assets in that exchange.

Try to use such exchanges that offer insurance policy in case your funds are hacked from them.

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Volume

Nobody desires to struck in trade. But you undoubtedly will if you are using exchange with low trading volume.

Good volume on trading pair is a guarantee that you can fastly get in and out of trade even with large amounts.

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Trading Pairs

Less trading pair indicates you don’t have enough choice to expand your portfolio.

Decide to choose an exchange with a lot of trading pairs. This will aid you in trading as you will have many possibilities to trade.

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Fees

Fees are the most significant determinant in concluding whether exchange customers are satisfied with it or not.

If exchange fees are too costly most people will not favor it.

Exchange with low fees has an excellent interest if they are giving solid security and diversity of trading pairs.

Read Also: Coinrule Review-A Crypto Trading Bot Perfect For New Traders

Insurance

Quite rare people use wallets to store and guard their crypto. Most of us prefer exchanges as our wallets.

But what if exchange get hacked and we lose all our funds.

This has occurred in the past with numerous exchanges where people squandered everything.

The pleasantest thing to do is to look for exchanges that offer insurance if they get hacked.

Binance has set an example in this case.

They got hacked in May 2019 but returned their users a single penny lost.

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Fiat Option

Users must also watch for exchanges from where they can comfortably buy crypto with fiat.

This is a great convenience in buying cryptocurrencies if you have choices to buy directly from your bank account, Credit or debit cards, or by any payment processor.

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Leverage Trading

Leveraged trading is becoming very prevalent. A large number of the crypto exchanges allow leverage trading.

Finding an exchange with leverage trading along with spot trading can be a prominent plus for your trading.

Read: Are Trading Bots Legal? Why Use Trading Bots? Are They Profitable?

Best Alternative To Coinbase

On the basis of the above factors, we have compiled a list of the best alternative to Coinbase.

S.no Exchange Name
1 Binance
2 Phemex
3 Poloniex
4 Kraken
5 Binance US
6 Gemini
7 Bitstamp

Binance

The name Binance is derived from the English” binary “and” finance”.

See How To Set A Stop Loss On Binance And OCO Orders

Behind Binance is the idea to connect the cryptocurrency world on a single platform.

To accommodate more adoption and guide new users to Bitcoin and cryptocurrencies.

Read: Binance Exchange Review

Hence the motto of the platform is:

Exchange the world

Binance got off to a fabulous start in 2017 with an Initial Coin Offering in which the company was able to accumulate approximately USD 15 million from several investors.

In return, Binance Coin was paid to them.

Since then Binance has unquestionably created a revolution in Crypto Space.

The China-based exchange has moved its headquarters to Hong Kong and then to Malta due to ambiguities regarding the regulations of Bitcoin and cryptocurrencies.

Also, different set up have been made in Taiwan, France, Germany, India, Singapore, Russia, Turkey, and Japan to avoid possible national restrictions.

Binance has a seat in Malta and enjoys the crypto-friendly nature of this country.

In recent years, the exchange and their token BNB have evolved as cryptocurrency leaders.

Binance has not only succeeded to attract more than 15 million active users from over 200 different countries but is now much more than a simple exchange.

Whether Staking, Lending, Mining, Future trading, or a separate Chain, Binance serves each of these areas and continually introduces new products to stay competitive and offer a simple all-in-one solution.

The most notable point of Binance success is the security of the website.

Binance not only provides exceptional security to its customers but also have SAFU funds that act as insurance if Binance gets hacked.

When hacked in May 2019, Binance proofed that they are the top exchange by refunding their users all amount they lost from their SAFU funds. 

Also, the exchange has the strength to make 2 million transactions per second.

Since its journey from January 2018 Binance has become the largest crypto exchange with a market value of $ 1.3 billion.

Binance is available in 17 different languages Portuguese, Brazilian, Russian, Arabic, Dutch, French, Chinese (Simplified), Chinese (Traditional), Japanese, Korean, German, Hindi, Indonesian, Italian Polish, Spanish, Turkish, Vietnamese.

Customer support is available in Chinese, Turkish, Korean, Vietnamese, English, Spanish, Portuguese, and Russian.

More language support will be surely added with time.

Binance Major Plus

  • Binance offers hundreds of different Coins to buy, sell, and exchange.
  • All-in-one solution: great product variety Staking, Lending, Future Trading, Margin Trading, Derivative Trading, Binance Pool, Crypto Loans, Binance P2P exchange, Launchpad for Binance IEO’s, Binance Academy, Binance Charity, Binance Dex, Binance Research, Trust Wallet and much more.
  • Future trading with up to 125x.
  • Low Fees.
  • High Trading Volume, High Liquidity.
  • No hidden costs.
  • No compulsory KYC for smaller withdrawal amounts.
  • Deposit with credit cards, Debit cards, Bank accounts, and other popular payment processors.
  • Earn by Lending, Staking, and Binance Saving.
  • Legal status in the EU, US, and other main countries, compliance with FATF recommendations.

Binance undoubtedly is the best alternative to Coinbase.

Phemex

Demand for Bitcoin and Altcoin derivatives continues to rise.

Investors are looking for a suitable way to hedge their positions in the different cryptocurrencies and to shield themselves from likely price falls.

Since there are currently only a confined number of trading platforms that allow future trading, Phemex has goals of offering a reliable and secure alternative.

Technical problems or insider trading often occur on some well-known derivatives exchanges that gravely affect traders.

Phemex desires to change this and focuses on customer satisfaction.

Phemex was built under the leadership of over 8 former Morgan Stanley Executives.

Their experience from the classical financial market is shown in the structure and function of the Phemex exchange.

The company tries the user-oriented approach and at the same time relies on powerful functions for professional traders, as well as beginners.

Phemex headquarter is in Singapore and was launched on November 25, 2019.

Phemex has built up a user base of more than 50,000 traders in just a few months, with a daily peak trading volume of $ 1 billion in February 2020.

The exchange plans to launch contracts trading backed not only by Bitcoin or cryptocurrencies but also by traditional financial products such as stock indices, forex, commodities, metals, energy, and more.

From the technical side, Phemex scores more than 1ms latency speed, over 300,000 transactions per second, and 99% availability.

Phemex also supports Fix API, sub-accounts, and L3 market data.

In terms of security, Phemex has set up its own hierarchical-deterministic Cold Wallet System, which allows each user an independent depot address so that all assets are stored in cold wallets.

The custody and transfer of the Bitcoins are all carried out via Offline signature with strict human control.

Phemex also stands out from the competition in terms of transparency.

The company provides full transparency regarding fees and settlement mechanisms.

You don’t have to worry about hidden costs.

Bitcoin, Ethereum, Ripple, Chainlink, Tezos, Litecoin, and more recently Gold can be traded on Phemex with a leverage of up to 100x.

That makes Phemex stand out from the other derivatives exchanges.

All derivative trading contracts can be settled in USD.

This is less risky and enables simple profit & loss calculations.

Read: Phemex Review-Exchange With Ten Times Fast Trading Engines And Zero Spot Trading Fees

Phemex Main Points

  • High Trading Volume
  • Fiat deposit from Debit, Credit cards, bank accounts, and payment processors.
  • Variety of coins and adding new coins daily.
  • Leverage up to 100x.
  • Attractive welcome bonus.
  • High security.
  • High performance and stability.
  • Many trading Features.
  • Gold derivatives and more traditional derivate coming.
  • 24/7 Live Support in different languages.

Visit Phemex

Poloniex

Poloniex is an American centralized crypto exchange.

Poloniex is characterized by a large number of tradable assets, low fees, and advanced features.

Recently, the fees have been reduced once again.

The 2014 crypto exchange had a large share of the market till 2017.

Especially a large number of tradable coins and the low fees gave Poloniex a unique selling point.

The fast rush of new users in 2017  did not come to Poloniex and they lost market share to exchanges that mounted racing like Binance, Coinbase.

This was also a cause Poloniex was taken over by Circle in 2018.

Logging in to Poloniex is very easy and fast. Only one e-mail address is required and cryptocurrencies can be easily traded.

In Tier 1, the Withdrawal limit is up to$ 10,000/day.

If you want to increase the withdrawal limit you have to verify yourself.

The verification can be made on the Web or via App.

The main markets are BTC and USD, fees currently are  0.125% per transaction.

The crypto exchange has the cheapest fees on the market, especially for crypto-to-crypto trading.

Poloniex also offers 2-factor authentication.

The Poloniex lending function can be beneficial for unused crypto and earn profits.

Many of the smaller altcoins can only be found on Poloniex.

Poloniex is for both advanced and beginner traders.

Poloniex Advantages

  • Good FAQs / Helpful Instructions
  • Easy Deposit / Withdrawal
  • Lots Of Cryptocurrencies
  • Helpful Support
  • Mobile App
  • Fiat currency deposits and withdrawal
  • Lower fees than other Exchanges
  • A lot of personal information is needed
  • Regulated trading of cryptocurrencies
  • Margin: trading of leveraged cryptocurrencies
  • Poloniex Lending for lending coins
  • Poloni DEX, a decentralized exchange
  • LaunchBase, A platform for starting and financing tokens

Visit Poloniex

Kraken

Kraken is headquartered in San Francisco, USA, and has been verified several times as the most loyal and secured crypto trading platform by independent media.

Kraken is one of the top bitcoin exchanges, offering to trade in Euro, Canadian Dollar, American Dollar, British pound, and Japanese Yen.

One chief success of this exchange is security.

The website has been voted as the most protected exchange in the world several times.

You can make deposits with cryptocurrencies and fiat currencies.

Kraken charges no fees for deposits and only very low withdrawal fees.

The platform also has a large number of trading pairs.

The Website is also very well designed and offers simple step-by-step instructions for traders on every topic.

The founder of Kraken, Jessie Powell, describes the goal of his company as follows::

“Our mission is to provide an exceptional bitcoin exchange experience”.

 

Kraken was founded on 28 July 2011 and released the Kraken Beta version on 3 May 2013.

The official trading platform was launched on 10 September 2013.

In a few months, Kraken acquired several awards and was honored as one of the most promising startups in blockchain technology.

On September 15, 2014, the iOS application was released.

American dollars and British pounds were added on October 28, 2014.

In the 6 years since its creation, new currencies, and technologies have been added to remain competitive and on the top of the exchange market.

On March 1, 2017, Kraken acquired Cryptowatch.

With Cryptowatch Kraken offers a trading platform with real-time data on cryptocurrencies, trading charts, and various trading services.

The program allows the visual representation of price changes and market trends.

The following fiat currencies are offered on Kraken:

  • American Dollar
  • Euro
  • Canadian Dollar
  • Japanese Yen
  • British Pound

Kraken Features

  • Many cryptocurrencies and fiat currencies.
  • Detailed and simple step-by-step instructions.
  • Funding Options.
  • Futures trading.
  • Indices Trading.
  • Safest exchange on the market.
  • Deposit cryptocurrencies and fiat currencies.
  • Moderate-to-high transaction fees.
  • High liquidity.
  • Margin trading.
  • OTC trading.
  • PGP Key.
  • Market and limit orders.
  • Stop loss, Take profit, Conditional close orders, Order start time, and Order expiration options.
  • 24/7 Support.
  • Account Management.
  • API.
  • Proof of Reserves.
  • Advanced Security.
  • Kraken Staking.
  • WebSockets.

Visit Kraken

Binance US

Binance was the most popular Bitcoin exchange in the United States.

This was because registration did not require a complex KYC process and US citizens had direct access to over 565 trading pairs.

Binance had a daily trading volume of around $ 1 billion, allowing traders to benefit from high liquidity.

Binance was the most loved exchange for US citizens who wanted to trade Cryptos.

But due to regulatory uncertainties, Binance had to adjust its Terms & Conditions in mid-June 2019, as a result, US citizens were halted from using Binance.

However, since Binance did not want to withdraw completely from the US market.

Binance.US was created for users from the United States.

Binance.US was launched on 24 September 2019. The daily trading volume is now more than 15 million US dollars.

Binance US Advantages

Binance US has increased the number of tradable currencies from seven to Twenty-six and more coins are added regularly.

To offer customers added value, Binance.US allow the buying of cryptocurrencies through debit or credit cards.

Users can buy and sell cryptocurrencies and can easily transfer USD to their bank account.

The crypto exchange stores its US dollar deposits on various bank accounts that offer FDIC insurance coverage.

Customers enjoy increased protection through deposit insurance which is guaranteed by the US financial system.

Binance US launched the Automated Clearing House (ACH) Service in October 2019.

American users can now transfer up to 5,000 US dollars after registration through the method of ACH.

ACH supports transactions with a volume of up to 30,000 US dollars.

All deposits and withdrawals processed with the help of ACH are made without fees charge.

Trading from Binance.US is open to many US states, excluding, Washington, Connecticut, Florida, Idaho, Georgia, Hawaii, Louisiana, New York, North Carolina, Texas, Alabama, Alaska, and Vermont.

Binance US fees are 0.1% spot trading fee and 0.5% Instant Buy/Sell fees.

But if you hold BNB you will be charged fewer fees and fees will be deducted from your BNB holding.

Binance US also offer Staking Service, where user can stake their coins to earn rewards.

Visit Binance US

Gemini

Gemini is a Bitcoin and Ethereum exchange established by the Winklevoss twins in 2015.

Both brothers invested 11 million Dollars into Bitcoin in April 2013. When one Bitcoin was only 120 dollars.

Now their investment has grown to billion dollars.

Gemini has become a recognized exchange and is based in New York.

It is the only licensed Ethereum exchange.

The Gemini crypto exchange is at thirty-two positions according to Coinmarketcap on the base of the trading volume.

Not only Gemini trading volume is high it also has more than twenty pairs to trade on.

Visit Gemini trading pairs

Gemini offers crypto to fiat payments and many coins for trading.

Gemini is one of the most protected exchanges available.

Its protection is so much guaranteed that the exchange is utilized as CBOE Bitcoin futures settlement.

Gemini is accessible in nearly all US states and also in  Puerto Rico, Singapore, South Korea, United Kingdom, Canada, Hong Kong.

Gemini Features

  • Federal Deposit Insurance Corporation insures all accounts on Gemini.
  • Most of Bitcoin and Ethereum are kept in cold wallets to avoid and protect from hacker’s attacks.
  • User funds are stored safely in a chartered bank of New York.
  • Gemini is made fully compatible with banking standards, That is why institution clients love Gemini.
  • Cryptocurrency, wire, and bank deposits are free.
  • Expert service with exceptional customer support.
  • User-friendly and well-composed interface.
  • The assets exchange fee is low.
  • The first thirty withdrawal of each month is also free.

Gemini needs a lot of personal information to make and run your account because the exchange is fully compliant with the USA laws.

Samsung and Gemini Exchange partnered with each other, as a result of this collaboration, Canadian and US citizens can purchase Bitcoin and other cryptocurrencies instantly from their Samsung Wallet via Gemini.

Samsung mobile Wallet was earlier only used as Storage, it can now be utilized for the uninterrupted purchase of cryptocurrencies.

With more than twenty cryptocurrency trading pairs, Gemini is counted as a top crypto exchange and as the best alternative to Coinbase.

Visit Gemini

Bitstamp

Buying and selling cryptocurrencies has matured as a trend for numerous investors to raise their earnings within a short period.

In recent years, it has become undeniable that the prices of digital currency are tricky to predict.

But yet the interest in the digital currency is progressing.

The requirement of solid platforms through which digital currency can be efficiently traded is high.

This necessity was identified by Bitstamp early on.

The exchange was founded in 2011, making Bitstamp one of the primary platforms in this field.

Originally founded in Slovenia in 2011, Bitstamp is one of the largest Bitcoin exchanges in the world.

As Bitstamp developed it began offices in the U.K. in 2013.

In 2016 Bitstamp received a license from the EU country Luxembourg as a payment processor.

Additional Info

Broker type Buying and selling cryptocurrencies
Year of foundation 2011
Headquarters Luxembourg, United Kingdom
Regulated by Luxembourg Financial Industry Supervisory Commission CSSF
Fiat currencies EURO, USD, GBP
Digital Currencies Bitcoin, Ethereum, PAX, Stellar Lumens, Bitcoin Cash, Litecoin, Ripple, PAX.
Payment Methods Credit Card, Bank Transfer
Trading Fees 0.25% – 0.10%
Mobile Trading and App Yes
Support FAQ, Email, Direct Line.

Bitstamp Benefits

  • Simple Interface
  • Low Fees
  • Withdrawal directly to your bank account
  • First-Class Security
  • 98% of assets in cold storage
  • Highly-encrypted personal data
  • Proven Reliability
  • 24/7 dedicated support

Visit Bitstamp

If you know any best alternative to Coinbase, please let us know in comments, so that we can add that.

 

 

 

 

 

 

1 thought on “7 Best Alternative To Coinbase For Trading Cryptocurrencies”

  1. Thank you! sharing New Updates, I really enjoy reading the news of Cryptocurrency and the Stock Market. I want to be an investor so , I read the market on a daily basis. your blog helps to know the perspective of the crypto and forex market.

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