Coinbase is one of the world’s most popular cryptocurrency exchanges that boasts high levels of liquidity, and offer its users a plethora of trading options. Be that as it may, Coinbase is not perfect.
For starters, it only focuses on five cryptocurrencies namely Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ethereum Classic. Not only that, but the payment methods are somewhat limited (especially when compared to other top-tier crypto exchanges), and its customer service received mixed reviews.
In short, despite its popularity, Coinbase might not be for everyone. That is why we have created a list with the best alternatives to Coinbase.
On May 23, 2017, Coinbase rebranded its GDAX exchange (Global Digital Asset Exchange) to Coinbase Pro. While Coinbase is all about convenience and high accessibility, Coinbase Pro was specifically designed to cater to the needs of professional asset traders. In short, Coinbase Pro feels a bit more like a trading platform specialized on buying and selling stock.
Coinbase Pro has a lot in common with Coinbase upon which it is base. They have the same trading fees, APIs, and security features. What’s more, the exchange is insured by some of the industry’s biggest traders such as the New York Stock Exchange and Andreessen Horowitz, the private American venture capital firm, and it’s one of the few exchanges that’s fully regulated in the United States.
Kraken is another well-known name in the crypto exchange industry, and it’s designed to cater to the needs of professional traders. Kraken is notorious for providing quick and easy access to some of the world’s leading cryptocurrencies such as BTC, BCH, ETH, ADA, QTUM, XMR, DASH, LTC, XRP, XLM, REP, MLN, EOS, and others.
The platform boasts high liquidity, support for margin trading, fast execution speeds, and a collection of advanced trading tools (such as margin trading and short selling). Another big advantage of Kraken is the low trading fees, just up to 0,36% for makers and 0,08% for takers.
Binance has since long been at the top of charts regarding trading volumes, as well as the quality of services. Binance is a versatile cryptocurrency exchange that can be used by both novices and more advanced traders alike (thanks to its Basic and Advanced interfaces) with the same degree of success.
The exchange is known for its plethora of digital currencies (close to 100), high liquidity and its compatibility with almost all types of platforms thanks to a versatile web app, as well as a neat web app. The team behind the exchange state that the platform can process as much as 1,4 million transactions per second. The exchange also boats an in-house token, the BNB, which provides reduces trading fees for its holders.
LocalBitcoins can be thought as a sort of “Craigslist for Bitcoin,” as it’s not a typical crypto exchange service. The service acts as an intermediary between the sellers and the buyers, and it relies on a reputation-feedback system to create trust. LocalBitcoins charges 1% transaction fee on every trade and, at this point, it only accepts Bitcoin. The main advantage is the fact that the service accepts a plethora of deposit options. Furthermore, deposits can be made using a wide range of fiat currencies.
CEX.io is an UK-based cryptocurrency exchange with a very good reputation in the crypto sphere. One of the main pros of this service is the fact that it can be accessed from all over the world, the team behind it claiming a world coverage of 99%. Currently, the exchange allows traders to buy BTC, ETH, BCH, BTG, DASH, XRP, XLM, and ZEC. Generally, the exchange has very low fees at somewhere around 0,25% (depending on the amount you exchange).
Owned by the famous Winklevoss twins, Gemini is a New York-based cryptocurrency exchange. The exchange prides itself as being the first licensed Bitcoin and Ethereum trust company to be registered with the NYSDFS. It allows users to trade Bitcoin and Ethereum for other cryptos or fiat.
The supported trading pairs include BTC/USD, ETH/USD, and ETH/BTC. One of the main reasons to trade using Gemini is the fact that it offers very good discounts for high-volume traders.
Since its launch back in 2013, Changelly has remained one of the most popular crypto-to-crypto exchanges on the market. Changelly’s main selling point is its unique method of allowing traders to exchange between cryptocurrencies by aggregating and suggesting the best possible rates.
Currently, the exchange comes with support for well over 80 cryptocurrencies including some of the most popular such as BTC, BCH, ETH, XMR, ZEC, XRP, ETC, and LTC, to name a few. The platform accepts payments in more than 35 cryptocurrencies as well as via cred or debit card in USD or EUR. All this accessibility comes at a price, as Changelly is known for having higher rates than other exchanges.
Coinmama is an Israel-based crypto exchange mostly known for trading BTC and ETH for USD and EUR. The trading fee is a bit higher than the competition- at 5,90%, but it’s worth mentioning that the exchange accepts a wide range of deposit methods such as cash, credit, and debit card, as well as bank transfer.
Other advantages include the possibility of buying fractions of a Bitcoin, the fact that traders buy directly from the site (no intermediary involved). In terms of cons, Coinmama does not allow traders to sell Bitcoin (only to buy), it doesn’t accept PayPal, American Express or Discover, and it has no smartphone app.
Bitstamp is one of the oldest and most renowned crypto exchanges and is one referred to as one of “Big Four” Bitcoin exchanges. The exchange is known for having high liquidity levels, very competitive fees, and above average security features with 98% of the funds held in offline storage.
It allows traders to add crypto and fiat such as USD, EUR, GBP, and CHF, and has the following trading pairs: BTC/USD, BTC/EUR/ XRP/USD, XRP/EUR, XRP/BTC, LTC/USD, LTC/EUR, LTC/BTC, ETH/USD, ETH/EUR, and ETH/BTC.
Bitfinex is a Hong Kong-based crypto exchange with a strong reputation behind it. It’s known for its advanced trading features, deep liquidity, and access to a plethora of cryptocurrencies. The platform is available globally, with the exception of the US and a few other states.
Other advantages include the competitive fee system and the fact that it has a mobile app for both Android and iOS devices.
Coinbase may be one of the leading crypto exchanges out there, but that does not mean it is the only right exchange for you. As you can see, there are a bunch of very good alternatives, all of which come with even better propositions than Coinbase. Whatever your pick may be, good luck with your future trades.