Cryptocurrencies have become a sort of trend recently and have taken the world by storm. In an age where information is on overload, it is difficult to know which website to trust or which currency to invest in. Coinbase Exchange is one of the leading websites in this area but has many competitors too. The most suitable alternative to Coinbase Exchange is Binance. Read on and you will see why.

Top 10 Coinbase Exchange alternatives and competitors

  1. Binance – Best for beginners or advanced users; Most suitable alternative to Coinbase Exchange
  2. UPHOLD – Multi-asset exchange
  3. LocalBitcoins – Exchange between users
  4. Kucoin – Peer-to-peer trading
  5. NiceHash – Finding the most profitable coin
  6. Kraken – Trade between cryptocurrency and fiat currencies
  7. Bittrex – Easy for buyers to buy or sell crypto
  8. HitBTC – Trading altcoins
  9. CEX.10 – Advanced trading features
  10. Poloniex – Low fees

1. Binance – Best for beginners or advanced users

Pricing:

  • 0.10% spot-trading fees
  • 4.5% for debit card purchases
  • Two-factor authentication verification

Binance is a trading platform that is regulated by the U.S and is the largest trading platform in the world in terms of the daily trading volume of cryptocurrencies. Users can restrict the number of devices they use to access Binance, making for a safer platform.

Key features:

  • Free academy in which you can learn how to trade
  • Comprehensive charting options
  • Hundreds of cryptocurrencies
  • 7 order types

Reasons to buy:

  • Over 600 Cryptocurrencies listed
  • 90 million registered users who trust Binance
  • Lowest transaction fees
  • Quick transactions
  • Simple interface

Reasons to avoid:

  • Complicated trading platform
  • Tricky verification process
  • No built-in digital wallet
  • Under investigation in the U.S and in regulatory trouble in several countries

2. UPHOLD – Multi-asset exchange

Pricing:

  • Variable spread up to 1.25%

UPHOLD is a multi-asset exchange service that customers can use to buy and sell cryptocurrencies, national currencies, equities, and precious metals. Investors can buy, sell, deposit, or withdraw using UPHOLD.

Key features:

  • 52 currencies
  • Platform insurance against theft
  • Cold storage
  • Private key encryption
  • Buy, sell, trade, hold and limit transactions supported
  • Mobile app (iOS and Android)

Reasons to buy:

  • Offers metals, equities, and cryptocurrency trading
  • No convenience fee to buy stock using a bank account
  • Free to send money to friend/family member

Reasons to avoid:

  • European users can’t trade equities
  • Fewer educational resources than Coinbase

3. LocalBitcoins – Best for buying and selling Bitcoin; Exchange between users

Pricing:

  • 1% trading fees

When using LocalBitcoins, users can exchange bitcoin amongst one another. It provides and facilitates over-the-counter trading of local currencies for bitcoin. Users can also advertise on the website.

Key features:

  • Encrypted chat feature
  • Instant notifications
  • Escrow service
  • Web wallet from where you can send and receive Bitcoin transactions
  • Can create advertisements in which you can choose your own payment method and exchange rate for buying and selling bitcoins with other LocalBitcoins’ users

Reasons to buy:

  • P2P exchange
  • Supports Fiat payments
  • Good security measures

Reasons to avoid:

  • Need to be aware of potential scam attempts
  • Higher-than-average prices

4. Kucoin – Peer-to-peer trading

Pricing:

  • 3.1% fee charged with SEPA
  • 3% with VISA/Mastercard

Kucoin is a large cryptocurrency exchange platform that is used in more than 200 countries. It is not licensed in the U.S, however. Users can earn interest on their investments on this platform and have access to a big selection of cryptocurrencies.

Key features:

  • Mobile app
  • Offline cold storage
  • Additional features: crypto lending, trading bots, margin trading and futures trading

Reasons to buy:

  • Large crypto exchange with over 11 million users
  • Low fees of 0.1% with a further 20% discount if you pay with KCS
  • Mobile app available for iOS and Android
  • Can earn interest on crypto

Reasons to avoid:

  • High fees when buying crypto with fiat (3% – 12%)
  • Cannot withdraw fiat currencies
  • Poor customer service – no live chat support
  • Not licensed in the U.S
  • Poor reviews

5. NiceHash – Finding the most profitable coin

Pricing:

  • Servicing fees for buying hash power:
  • Non-refundable new order fee: 0.00001 BTC
  • Amount spent on orders for buying hash-power: 3%
  • Servicing fees for selling hash power
  • Payouts to NiceWallet: 2%

NiceHash uses the ‘sharing economy’ approach, connecting buyers and sellers on their website. It is a global cryptocurrency hash power broker, using an open marketplace to do so. NiceHash is used by cryptocurrency miners, buyers of hash power and crypto traders.

Key features:

  • A simple dashboard gives a quick overview of the most critical information
  • Control every device in your system
  • Monitor temperature, load, fan RPM and profits
  • A precise benchmarking process will determine the most profitable algorithms
  • Plugins allow you to install 3rd party miners

Reasons to buy:

  • Ability to check your profits with Auto-detection and Manual Selection
  • Easy for beginners
  • Multi-algorithm
  • Less risky- switches to the most profitable coin
  • BTC payouts
  • Fair market value

Reasons to avoid:

  • Third party
  • Mining a coin through NiceHash is usually less profitable
  • Unsuitable for long-term investments

6. Kraken – Trade between cryptocurrency and fiat currencies

Pricing:

Kraken fees for an instant $2000 trade:

  • Standard trading fee: 0.9% for stablecoins and 1.5% for any other crypto or FX pairs
  • Fees for instant purchase: $105
  • Description fees: 3.75% + 0.25 Euros fee charged for credit/debit card payments

Kraken trading fees for a non-instant $2000 trade:

  • Description fees: 0-0.26% (dependent on cumulative trade volume in the last 30 days and whether you provide/take liquidity)
  • Fees for a non-instant transaction: $5

Kraken facilitates the trade between cryptocurrency and fiat currencies and provides price information to Bloomberg Terminal. Kraken supports over 190 countries with its services and has over 9 million customers. Kraken also has a learning center that users can utilize to learn more about crypto.

Key features:

  • No inactivity fee charge
  • Less than 15 minutes to open an account
  • Can deposit with a bank card and with an electronic wallet
  • Supports 56 coins

Reasons to buy:

  • Low non-instant buy fees
  • Advanced trading platform
  • Massive product selection

Reasons to avoid:

  • Extremely high instant buy fees
  • Poor selection of educational materials
  • Withdrawal fees, and high minimums

7. Bittrex – Easy for users to buy or sell crypto

Pricing:

  • Based on the maker/trader model
  • The more you trade, the less you pay in fees
  • $0-$24,999.99 – 0.35% in both maker fee and taker fee.

Bittrex allows its users to buy, sell and trade cryptocurrencies. Users can now also purchase crypto with U.S Dollars. It offers low trading fees and has advanced security features. Bittrex has a simple user interface and thus, makes it easy for users to buy or sell crypto.

Key features:

  • Instantly buy and sell
  • Security and use of cold storage to minimize successful hacking.

Reasons to buy:

  • Offers more than 400 cryptocurrencies
  • Multiple levels of security
  • Supports deposits in U.S. dollars

Reasons to avoid:

  • Not available in all 50 states
  • Does not offer margin trading
  • Lacks some advanced order types

8. HitBTC – Trading altcoins

Pricing:

  • Starter account: 0.25% spread
  • General account: 0.25% spread
  • Upgraded account: 0.057% spread

HitBTC is a platform used by experienced traders to trade altcoins. It has a wide selection of altcoins, making it a good platform to use to hunt for low-cap gems. The platform has, however, received negative reviews as some users have struggled to be able to withdraw funds from their accounts.

Key features:

  • Advanced API
  • Responsive trading terminal
  • Secure trading
  • Progressive fee tiers
  • Rebate system
  • Variety of instruments: HitBTC offers active markets for more than 800 trading pairs
  • Colocation services
  • A vast variety of order types
  • FIX trading gateway

Reasons to buy:

  • Over 500 cryptocurrency pairs
  • Commission for the cryptocurrency withdrawal
  • Support service works 24/7

Reasons to avoid:

  • No passive investment instruments
  • High commissions for Starter and General account types
  • Per trade limits on the volume
  • No affiliate programs

9. CEX.10 – Advanced trading features

Pricing:

  • Trading fees: 0.25% / 0.15%
  • Deposit fees: $0 bank transfers, 2.99% credit/debit card
  • Withdrawal fees: 0.3% + $25.00 bank transfer

Cex.10 is a platform used by experienced traders to buy, sell and borrow or earn crypto. Beginners may find the platform difficult to use due to its advanced trading features. CEX.10 offers services for three market segments which they refer to as Everyone, Traders and Businesses.

Key features:

  • Quick and easy to buy and sell crypto
  • Supports credit/debit card, bank transfer and Skrill
  • Accepts fiat currencies
  • Volume-based fee structure starting at 0.25% + 0.15%
  • Instantly withdraw your fiat profits to VISA or Mastercard
  • Powerful trading and charting with TradingView integration

Reasons to buy:

  • Regulated and licensed
  • Supports many cryptocurrencies
  • Provides an opportunity to earn crypto
  • Offers crypto-collateralized loans

Reasons to avoid:

  • The number of products and services may overwhelm beginners
  • Lower liquidity than other leading global exchanges

10. Poloniex – Low fees

Pricing:

  • Bank account: 0.5% + variable spread fee
  • Debit/Credit card: 3.5% ($10 minimum) + variable spread fee
  • Futures trades: 0.01% Maker / 0.075% Taker
  • Lending fees: 15%
  • Margin Interest Fees: Varies

Poloniex has a wide range of assets that come at a low cost. Poloniex supports over 350 supported cryptocurrencies and offers margin trading and lending, amongst other crypto products. This platform, however, is not available to users in the U.S and has a history of hacking problems.

Key features:

  • Digital currency trading platform
  • P2P capabilities
  • Margin trading
  • Futures trading
  • Soft staking
  • Customization

Reasons to buy:

  • Low fees at any trading volume
  • Basic and active trading platforms are available
  • More than 250 currencies supported
  • Uncomplicated interface
  • Cold storage
  • Mobile support

Reasons to avoid:

  • No advanced order types
  • Poor support
  • History of hacking issues

References:

  • https://www.g2.com
  • https://www.binance.com
  • https://www.investopedia.com
  • https://www.bitdegree.org
  • https://www.marketplacefairness.org
  • https://www.nicehash.com
  • https://jkcrypto.com
  • https://brokerchooser.com
  • https://www.forbes.com
  • https://hitbtc.com
  • https://tradersunion.com
  • https://www.hedgewithcrypto.com
  • https://www3.technologyevaluation.com