With the rise of cryptocurrency, many wonder what the best exchange is and how you can access it.
Binance is the most common cryptocurrency exchange with technology that helps customers trade various cryptocurrencies.
These crypto exchanges are conducted through credit cards but can be transferred by wire transfers as well.
The personalization of a cryptocurrency wallet is a common practice among bitcoin holders. It enables customers to customize their virtual wallets and closely monitor transactions.
You can also monitor the cryptocurrency market and the rise and fall of certain coins.
Most crypto exchanges focus on the most important crypto coins like Bitcoin, Etherium, and Doge
However, many platforms also prioritize smaller, even less regulated coins like HappyCoin and Shiba Inu.
Cryptocurrency is becoming even more popular in our world. That is why we believe that researching and listing the top cryptocurrency exchange is important. Let’s discuss the top ten Binance alternatives currently on the market.
Top 10 Best Binance Alternatives
1. Coinbase
If you are a fan of cryptocurrency then surely you have heard of Coinbase. This leading exchange enables the selling, storing, transferring, and buying of cryptocurrency.
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam and is one of the leading stable exchanges for digital currency. This platform is also fully regulated and licensed in all 50 U.S. states. The interface for Coinbase is simple to use and extremely intuitive and emulates other stock exchange apps. You can monitor the current price of crypto while also monitoring trends, your portfolio, and up-to-date news stories about cryptocurrency.
Criticism
Many users have voiced their concerns around the security of Coinbase and whether storing your digital currency on this platform is safe. Coinbase is a better platform for buying, selling, and transferring but if you want to store your crypto, opt for a more private and secure wallet. Another con of Coinbase is the high fees associated with your wallet and exchange rates.
2. UPHOLD
UPHOLD is an app that enables the trade of 27 national currencies, 58 cryptocurrencies, and 50 U.S. stocks-a real jack of all trades if you ask me. Upon first glance at the website, it is apparent that the creators of UPHOLD truly value ease and transparency. With plain language descriptions, flexible payment plans, instant remittances, and a user-friendly website UPHOLD are perfect for someone new to digital currencies.
With state-of-the-art blockchain integration, you can access funds from bank accounts in 36 countries or through your private wallet on 7 different crypto networks without a fee.
Common digital wallets found on UPHOLD are Bitcoin, XRP, Ethereum, Litecoin, Bitcoin Cash, Dash, and Bitcoin Gold.
Unlike other apps on this list, you can also purchase precious metals on UPHOLD like gold, silver, platinum, and Palladium.
You can easily integrate to the API through the app to automate your business payments and increase functionality.
UPHOLD is a prime candidate for storing your digital currency securely. With advanced encryption, routine auditing and testing, and 3rd party diligence checks you can be sure that your wallet is secure.
Criticism
One of the biggest problems surrounding UPHOLD is the fees. Users are charged $15 for international fees which are higher than most of the other wallets on this list. In addition, the fees to transfer money from the UPHOLD wallet to a different platform are astronomical and have left many consumers angry and willing to opt for a less secure option. It is a common practice on UPHOLD to take 10% of the user’s profit. There is also a 66-day waiting period to withdraw money from your account, this is not common practice among most crypto exchanges.
Although UPHOLD has a ton of potential it seems that the cons are starting to outweigh the pros.
3. Poloniex
This crypto-asset exchange is at the forefront of digital trading. With an interface that rivals that of the most successful stock exchange apps, Poliniex is a perfect platform for monitoring crypto prices, reviewing 24Hr gains/losses and new listing, while also hedging your assets. There is a section dedicated to core assets which include Bitcoin, Ethereum, Tron, XRP, Litecoin, and Monero.
It is easy to exchange crypto while also monitoring the most well-known coins like Eth and Bitcoin. Users are also able to operate on the website with Visa, Mastercard, Apple Pay, and bank transfers are allowed.
Poloniex might be one of the safest crypto exchanges on this list. If users value 2-factor authentications for withdrawals or API use, then this is the exchange for you. Also, keep in mind that this program has an audit program that helps detect and block suspicious activity on your account while also securing your funds with state-of-the-art cybersecurity.
Poloniex is an innovative way of distributing money to users while also having a wide variety of cryptocurrencies.
Criticism
The communication aspect of the interface is lacking, and it is almost impossible to live chat with the troubleshooting team for Poloniex. This is a huge issue if you are in a bind and need to trade a coin quickly.
Though this exchange has relatively low fees they are much higher than the 10% usually equated with Binance.
Controversy
Poloniex recently settled with the SEC for an estimated $10,000,000. Cryptocurrency regulators have been cracking down on anti-money laundering schemes. The SEC has come out and said that more than $209 million worth of transactions with known darknet markets or unregistered money amenities.
4. HitBTC
HitBTC was founded in 2013 by Dhillon Kannabhiran, also known for Hack in The Box and other ventures. Kannabhiran is a talented system architect with a propensity for innovation and futuristic design.
At first glance at the HitBTC website, it is abundantly clear that monitoring the most popular digital currencies is at the forefront of developer’s minds. With a large, red button that reads “Access Liquidity,” users can be sure to find statistics and forecasts of BTC, ETH, BCH, VRP, LTV, XRM, and many others.
This exchange has lower fees compared to UPHOLD with an average of 9%. There is also a 24 hour by your side support team for confused customers. With trailblazing API technology that allows accounts to be further protected.
This exchange is the most skilled at monitoring altcoins.
Criticism
Some users have complained about a lack of transparency with the support system for HitBTC.
If you are not well-versed in the digital finance world then this is not the platform for you.
Due to unregulated exchange and other aspects, users should conduct research to prevent fraud.
5. Kucoin
Kucoin was launched in September of 2017 and has grown to become one of the leading cryptocurrency exchanges. This platform can handle high-volume trading while also keeping security at the forefront.
The 24h trading volume is approximately $1,745,220,521. Kucoin also has about 412 different coins and 803 pairs.
This platform is reliable in regards to leveraged ETFs, statistics, affiliate disclosure, and exchanged tokens.
Criticism
The only negative that surrounds this exchange is the user interface and just how difficult it is to navigate.
How can you trust your coins to be stored on a website you cannot even access or navigate?
6. NiceHash
This exchange is a vanguard for CPU/GPU mining, also helps increase profitability by adapting faster mining techniques.
Nicehash gained notoriety for using “hash” as a term for crypto.
Nicehash is the largest “hash” powered brokerage that links sellers or miners with buyers. You can store your crypto here, buy hash-power, sell hash-power (through mining,) and trade cryptocurrencies.
This platform has step-by-step instructions for how to get started as an independent crypto miner. By selling your independent computing power you will be paid in Bitcoin. There is a super simple video explaining everything you need to know about Nicehash.
Criticism
A common error is a “job not found” pop-up shows on the Nicehash website when some users try their hand in mining.
It is complicated to understand how to transfer your coins to a different wallet.
Though this site is very profitable and has given users the most gain potential, it is quite difficult to get to that point. To make a profit on a crypto exchange you need to invest at the presale of a crypto coin.
7. LocalBitcoins
Unlike all the other cryptocurrency exchanges I’ve mentioned on this list, LocalBitcoin looks almost as though it is a front for secondhand, knock-off home appliances.
Though suspicious upon first glance LocalBitcoin has forged its name among the overly saturated field of digital exchanges.
Many people enjoy the one-on-one aspect of LocalBitcoin and how the platform connects individual buyers.
However, this leaves some room for error, especially when considering that the site doesn’t have the capabilities to monitor all private sales.
The consumer must be leery of get-rich-quick scams and illegitimate buyers.
LocalBitcoin is safe, plain, and simple.
The site is secure enough to store your crypto coin. However, the interface needs to be updated and easier to navigate for first-time cryptocurrency users.
Criticism
The name LocalBitcoin sounds too gimmicky. Is this exchange trying to ride the coat tales of the most popular coin in the entire world, Bitcoin?
8. CEX.IO
This crypto was established in 2013 out of a company in London, England.
This leading cryptocurrency exchange is at the forefront of digital transactions and is likely to be the best option for a variety of users. With a platform that offers Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Zcash, Dash.
Because this exchange carries so many coins you can be sure to find whatever you are looking to trade.
Whether the digital currency is Bitcoin or something that was created not more than 10 minutes ago.
CEX.IO offers an affiliate program where partners can earn additional money by joining the program, promote the platform, and earn a 30% affiliate fee for trades and purchases. Though this does sound reminiscent of a Ponzi scheme, do not fret. Users rave about the safety of this platform and how incredibly reliable it is in terms of holdings.
Criticism
Lack of transparency is the leading issue surrounding CEX.IO, many reviews describe issues with consistent trading fees and personal consumer safety.
9. Kraken
Kraken, by far offers the most reasonable pricing as opposed to other trading exchanges. You can sign up instantly to buy more than 50 cryptocurrencies, the starting fee is only $10, and the interface is beautifully hip. You can purchase this app through Google Play or the App Store. The Kraken website has several pages dedicated solely to educating users on many aspects of the crypto exchange.
On the “features” page, users can find different links for security, fee structure, funding options, staking, 24/7 support, liquidity, margin trading, indices, futures, OTC, and account management.
Kraken has the most transparent pricing options.
This exchange has garnered $100 million to this date.
This platform is the most realizable alternative to Binance mentioned on this list and my favorite exchange.
10. SimpleSwap
Perhaps the most rewarding aspect of SimpleSwap is its straightforward interface and user-friendly guides located on every page.
The exchange rates are just so that customers can make a profit without shelling out loads of money.
Just like the name Simpleswap is just that, simple! This platform also can do some heavy trading with Bitcoin and Ethereum while also carrying 300+ altcoins.
You can also rely on their 24/7 support services.
Simple swap trading fees compared to CoinMarket:
Floating rate mark-up: 1.00%
Fixed-rate mark-up rate: 5.26%
There are also additional withdrawal fees for trading and moving. Money from one crypto wallet to another must be kept in mind.
Criticism
The only criticism associated with Simpleswap is the lack of transparency with users and developers.
The site is technically safe however, the relationship between crypto holders and developers is strained.
Final Word
The digital currency world has an overabundance of crypto exchanges. From the overly complicated exchange platforms that leave users liable to scams, users should be picky when it comes to their finances.
Learn how to navigate the unchartered land of crypto exchange it is important to approach every platform with skepticism.
All of the crypto exchange platforms listed are easy enough to use and have some form of following.