Coinbase: A Quick Overview
Coinbase is a leading cryptocurrency exchange where you can trade all the major altcoins and Bitcoin pairs. But the exchange continues its trend of debatable decisions by acquiring Neutrino, a software organization founded by a group of spy-wear developers and hackers. It also has one of the most expensive trading fee structures that can affect your crypto profits while withdrawal or trade.
So, while Coinbase is the third-largest exchange as per CMC crypto experts have recommended looking for alternative exchanges, for security, and for additional profits. After conducting a deep analysis I found that many exchanges like Coinbase that are safe and have a competitive fee structure. But overall, not all make the cut, so here are the best Coinbase alternatives that I would recommend.
Coinbase Alternatives: In a nutshell
|Coinbase Alternative Exchanges||Ratings||Available in US|
Coinbase Alternatives: How to find the best replacement?
While competitive trading fees is crucial in selecting an alternative exchange it should not be the only factor. I would suggest that you take a look at these aspects as well:
- Payment method
- Availability of Mobile App
- Supported countries
- Verification methods used
- Number of listed Cryptocurrency pairs
- Trading Volume
- Reward opportunities
Top 7 Coinbase Alternatives
Binance is the largest exchange trading volume. It has the largest selection of trading pairs and cryptocurrencies. With the inclusion of Fiat trading, Binance has established itself as one of the most versatile cryptocurrency trading exchanges. It also has its native token Binance coin (BNB) which is the third largest cryptocurrency as per CMC.
+ Over 185 Cryptocurrencies
+ High Liquidity
+ Fast loading app for efficient trading
+Maximum withdrawal limit of 2 Bitcoin daily for unverified users
|Trading:||0.1% (25% discount for BNB holders)|
|Withdrawals:||Cryptocurrency – none, SEPA – €0.90 EUR, Wire – 0.09%|
|Deposits:||Cryptocurrency – none, SEPA – None, Wire – 0.05%|
- Unverified users are allowed to trade
- IEO launchpad (initial exchange offering)
- Access to Fiat trading, Margin trading, Spot and derivatives.
Binance is miles ahead of its competition in terms of cryptocurrencies available, trading volume to innovations. The exchange suffered a minor setback with the announcement of its ban in US, however, it quickly bounced back with the launch of an exchange targeted at US users, a move that saw diluted liquidity. Binance is the first exchange I would recommend as an alternative to Coinbase or any other exchange. I have compiled a complete Binance review where you can find all the latest updates of the world’s largest trading exchange.
These are my top picks that i would recommend as alternatives to Coinbase. To justify my picks I have listed the trading volume, along with my review and pros and cons of each exchange below:
Liquid is one of the only Coinbase alternatives that has high liquidity and compliant with regulations. Headquartered in Japan it is one of the safest cryptocurrency exchanges all across the world
Upto 100x margin trading
300+ crypto trading pairs
Competitive fee structure
– Not available in Albania, USA, Barbados, Botswana, Cambodia, Cuba, Democratic People’s Republic of Korea (DPRK), Democratic Republic of the Congo, Ghana, Guam, Iran, Jamaica, Mauritius, Mongolia, Myanmar, Nicaragua, Northern Mariana Islands (MP), Pakistan, Panama, Puerto Rico, Somalia, South Sudan, Sudan, Syria, Uganda, Virgin islands, Yemen, Zimbabwe.
|Trading:||0.05% when using QASH (native exchange currency)|
|Withdrawals:||Cryptocurrency – None, Fiat – 5 USD|
- Users can analyse charts, view balance and even perform margin trading over the mobile app available on Android and iOS.
- Liquid exchange is not available in selected few countries.
Liquid is similar to Coinbase with a competitive trading fee structure and trading charts that are updated in real-time. It also comes with a mobile app where users can trade cryptocurrencies on the go. Liquid is ranked 17th by Coinmarketcap as the largest cryptocurrency trading exchange which will gradually improve once it starts registration for US residents.
IDEX is a decentralized exchange where more than 52% of DEX transactions are recorded. It runs on the Ethereum smart contracts and comes with support for stop and limit orders. I highly recommend IDEX as an alternative to Coinbase given its decentralized nature and easy registration.
Open to worldwide registrations
Competitive transaction fees
Runs on Ethereum smart contract
Over 410 cryptocurrency pairs
Only Crypto deposits
Does not support any other tokens than ERC-20
Exclusively for ETH trading pairs
|Trading:||Maker 0.10%, Taker 0.20%+ gas fees|
|Minimum order limits:||Maker $20, Taker $10|
- Users can cancel trades without requiring additional gas
- Efficieint trade direct from ledger wallets
- Tier 1 or unverified users can withdraw upto $5000 per day
Trading on DEX’s has certain risks involved. I would not recommend this exchange for users who are new to cryptocurrency trading. However existing Coinbase users can switch to IDEX to safely store your decentralized cryptocurrencies on a decentralized exchange. Read my full IDEX review for a full analysis about the exchange.
Gemini Exchange is registered in the US by the Winklevoss twins. It is widely known as the first cryptocurrency exchange to be a completely regulated exchange. A move that has always had divided opinions in the cryptocurrency community. But what cannot be denied is that Gemini is one of the safest exchanges to conduct cryptocurrency trade.
+ Regulated by US government for better safety
+ Good benefits for high volume traders
+ Trusted exchange among financial institutions
– Does not offer margin trading
– Not available worldwide
-Not a big list of cryptocurrencies or crypto trading pairs
|Trading:||0 – 0.1% and up to 1% depending on the trade structure|
|Withdrawals:||Cryptocurrency – Up to 0.002 BTC, SEPA/Wire/Debit card – none|
|Deposits:||Cryptocurrency – none, Wire – none, ACH – none|
- Users are eligible for a maximum of $500 daily ACH bank transfers
- Users can trade crypto on the go through the GeminiApp available for Android and iOS
- An account can be upgraded to different levels and API access permissions (Auditor, Trader, Administrator, Manager)
Gemini has a complicated trading fee structure. Initially, it is on the higher side which decreases as you increase your trading volume within a 30-day period. Check out this Gemini review where I have explained how its fee structure works and more.
Gemini Exchange is known to work closely with financial regulators which assure security. I would conclude that this exchange is suited for larger institutions or as the crypto community likes to call it, crypto whales. Nevertheless, the exchange is similar to coinbase in many ways which make it worth checking out.
Based out of Luxembourg, Bitstamp is ranked 10th as the best cryptocurrency exchanges as per CMC.Bitstamp has always been a hit among traders mostly due to its transparency. The exchange has always been in the news for the good reasosn. It is one of the most secure Coinbase alternatives for trading cryptocurrency. All the major coins including Bitcoin, Ripple, Ethereum, Litecoin, and Bitcoin Cash are available for trade on Bitstamp.
+ Transparent & competitive fees
+ High Liquidity
+ Allows fiat deposit and withdrawal
– Emphasises on EU markets
– margin trading not available
-Fairly poor average response time for support tickets
|Trading:||.25% for low volume, down to .10% for high volume|
|Withdrawals:||Cryptocurrency – none, SEPA – €0.9, Wire – .09%, Debit card – $10 under $1000 and 2% for amounts over $1000|
|Deposits:||Cryptocurrency – none, SEPA – none, Wire – .05%+, Debit card – 5%+|
- Fiat withdrawals are done within 3-4 business days
- You can use a credit card or wire transfer to fund your account
- Mobile app is available on Google Play Store and App Store.
What i like about the exchange is that since its hack back in 2015, Bitstamp came back strongly with improved security and a state of the art mobile app. While it continues to focus on EU markets it also remains as a crypto exchange with relatively low fees, and free cryptocurrency deposits and withdrawals.
Kraken is registered as a Money Services Business with : FinCEN in the USA — registration number 31000136371793, FINTRAC in Canada — registration number M19343731. This makes Kraken one of the safest cryptocurrency exchanges for US based users.
Just like I’d expect from a top exchange like Coinbase, Kraken has its own mobile app where users can trade cryptocurrencies on the go. Kraken is centralized which vouches for its liquidilty and safety.
Mobile app available worldwide
No major security leaks
Margin trading up to 5x
Holds a reputation as a top exchange for Altcoin trading
– Comparatively expensive trading fees
|Trading:||Maker 0% to .16%; Taker .10% to .26% (changes depending on volume)|
|Withdrawals:||Cryptocurrency – variable, SEPA – €0.9, Wire/ACH – $5|
|Deposits:||Cryptocurrency – variable, SEPA – none, Wire/ACH – $5|
- Unverified users can register an account and trade with no KYC
- Fiat trading available
- State of the art trading tools and charts that are easy to read
To sum it up if you are a US resident and are looking for a Coinbase alternative then you should check out Kraken. However, i do not rate it highly as a worldwide crypto exchange.
Launched back in 2014, BitMEX is known as the first exchange that started margin trading for Bitcoin. BitMEX is an appealing choice for users as it offers upto 100x leverage on the top cryptocurrencies. However, since it offers only margin trading, users cannot buy Bitcoin directly on BitMEX. To transfer Bitcoin in a BitMEX users first need to register an account on another crypto exchange. Check out this review to learn all about leveraging trading on BitMEX.
100x leverage on Bitcoin and upto 50x leverage on Ethereum
Trading tools and charts used by crypto experts
High liquidity rate
– Platform tends to crash due to overload
– Only for non-US residents
|Trading:||Maker .025%; Taker .075% Settlement: .05%|
- Does not ask for KYC details
- Timeless contracts with no expiration date
A lot of you may be surprised to see BitMEX among alternative exchanges like Coinbase as both platforms have a complete opposite business module. While Coinbase is an all purpose crypto trading exchange BitMEX is focussed on crypto leveraged trading. To sum it up BitMEX is worth considering for high risk traders who target huge profits.
Summary: What Is the Best Coinbase Replacement?
In my opinion Binance is the clear winner as the best Coinbase alternative. Right from the trading volume to constant innovations Binance trump’s Coinbase in every aspect. Other than its ban in the US, Binance has set a benchmark for itself since its hack that costed the exchange a reported 7,000 Bitcoins.
The main advantage of registering on Binance exchange is that you can use the same account to perform spot, margin, and even fiat trading on all major cryptocurrency pairs. Comment below and let me know if you agree with my choice or if you feel there is a better alternative to Coinbase.