Are you looking for the best alternative to Coinbase? Then you’ve come to the right place!
If you’ve been an active user of this popular exchange you might have asked yourself whether is there a cheaper alternative to Coinbase?
The short answer is yes. And there are plenty of those.
But that does not mean you should jump to the cheapest available option.
In this article I have addressed each exchange’s pros and cons, and the fee structure to help you find the best Coinbase competitors.
Don’t worry – you will not need to give up on Coinbase. However, if you are looking to:
- Save Fees
- Get access to more cryptocurrency
- Have access to more payment methods
- And get hands-on more features
I will help you to find the suitable Coinbase alternative.
After reading this article you will precisely know what exchange to use instead of Coinbase.
- 1 Why Not Coinbase?
- 2 What To Look For In an Exchange
- 3 Binance
- 4 Kraken
- 5 Kucoin
- 6 Gemini
- 7 CEX.IO
- 8 Etoro
- 9 Bittrex
- 10 Robinhood
- 11 Bitfinex
- 12 Bitmex
- 13 Webull
- 14 Crypto.com
- 15 Bitstamp
- 16 Voyager
- 17 IDEX
- 18 The Winner Alternative To Coinbase
- 19 Weighing all the Factors
Why Not Coinbase?
Being fast, secure, and reliable, Coinbase has been the standard cryptocurrency exchange for many enthusiast traders and beginners alike.
The exchange was launched in 2012 and has grown exponentially with over 56 million registered users and a $335 billion trading volume annually.
With the high-quality services and ease-of-use Coinbase delivers, it is no surprise Coinbase is one of the best platforms for trading Bitcoin and other cryptocurrencies.
However, every cryptocurrency exchange has its flaws, and Coinbase is no exception.
There are quite a few shortcomings Coinbase has and should be discussed in greater detail:
The biggest issue with Coinbase is that the fees it charges are higher compared to the industry average and its direct competitors.
Many newbies who use Coinbase will fall subject to the confusing fee structure, which depends on a few different factors.
Coinbase charges a fee, the greater one of either a fixed fee or a variable one that depends on the amount bought and the payment method used.
Coinbase also charges a spread of around 0.5% for trades in cryptocurrencies, and the rates may depend on the market status.
Lack of control
Another feature that traders don’t like about Coinbase is that users do not control their own wallet keys.
When a user buys cryptocurrency on the exchange, it is stored in a wallet that Coinbase controls.
This means the user doesn’t have independent control over his assets.
Users can avoid this by choosing to withdraw the currency into their own wallet, such as a hard wallet like Trezor or Ledger.
Small altcoin selection
Coinbase also does not feature as many altcoins that other direct competitors offer.
Coinbase has a decent variety of altcoins for newbies to dip their toes in.
Still, traders that are heavily invested in trading altcoin are often left disappointed with the options available.
What To Look For In an Exchange
There are lots of aspects to look for when choosing an exchange.
Here are a few key features to look for:
- Security: You must choose a legitimate and secure platform to ensure that your investments are safe.
- Method of purchase: A great platform has several ways to buy cryptocurrency. Make sure you choose an exchange that has different payment methods.
- The number of cryptocurrencies: The more the number of cryptocurrencies available on an exchange, the more choices you have!
- Fee structure: The fees charged for each trade is critical. Choose an exchange that charges lower fees.
- User interface and experience: Easy-to-use interface and great customer support can help get a better experience.
- Other features: Features like staking, crypto loans, P2P trading, and other features that can make your trading experience better is important to look for.
Binance is known to be one of the biggest cryptocurrency platforms and the best alternative to Coinbase for all traders.
The platform is an excellent choice for people looking to buy, sell and trade crypto instantly and offers more than 500 cryptos.
Whether you are a beginner or an experienced trader, Binance is an ideal option.
It gives users three different interfaces for trading depending on their skills.
Compared to Coinbase, Binance provides various features to its users, making it convenient for trading cryptocurrency.
The exchange allows you to buy crypto through credit and debit cards, wire transfers, and P2P trading, which allows you to buy crypto from fellow traders.
The exchange also allows you to leverage trade up to 125 times, helping maximize your profits.
Moreover, features like staking, savings, crypto loans, and smart pools really give the exchange an edge over many other cryptocurrency platforms.
Binance charges an incredibly low fee of 0.1%, which is appealing to many traders.
The fee structure can be attractive to many daily traders that can help them save them significantly on fees.
In addition, Binance charges 0.02% and 0.04% for makers and takers in Binance future, respectively.
Users are charged a flat fee for each cryptocurrency withdrawal from the Binance account.
The fees vary for each cryptocurrency and can be checked through the Binance fees page.
|More than 500+ cryptocurrency||Past security concerns|
|Low fees||Poor customer service|
|3 different user interface for different user experience|
|Several payment options (credit card, debit card, wire transfers, P2P trading)|
Kraken is rated as a reliable and secure exchange throughout the crypto world and is an excellent alternative to Coinbase.
The trading platform has made its name with the belief of empowering users to buy, sell, and trade digital currencies.
Kraken is recognized for its resilience to hacks and has strong security protocols to keep user’s investments safe.
Two-factor authentication, email support signing up, and master keys for account recovery are all the security features that help to maintain a high level of security.
Kraken also provides its users’ margin trading with a leverage of 2-5x, helping users increase their earning potential.
Besides this, Kraken also allows OTC trading, staking, and several funding options to buy crypto.
Kraken Terminal allows users to access price charts, order books, and live trade feeds to help trade-in profitable setups.
Moreover, Cryptowatch provides other features such as technical analysis, automated trading, etc.
Kraken charges a fixed percentage of 0.9% for any stable coin (USDT, USDC, or DAI) and a 1.5% fee for any cryptocurrency.
The funding fee for credit and debit cards is 3.75% with an additional €0.25 and 0.10% for online banking with an additional of $0.10.
The fees are charged on a per-trade basis. For infrequent traders with a big volume of trades, Kraken provides OTC service to cut the fee cost.
|High-security standards||No phone application|
|Margin trading with leverage up to 5x||Slow verification process|
|High liquidity||Frequent downtimes|
|Safe and credible exchange|
Kucoin is known as the ‘the peoples’ exchange’ because it offers many cryptocurrencies many other exchanges don’t support.
This exchange is an excellent alternative to Coinbase due to its lower fees and many ‘hidden gems’ it offers to its users.
It supports more than 200 cryptocurrencies and 40+ fiat, making it one of the most suitable choices if you want to switch from Coinbase.
Kucoin offers several features that make it one of the favorites out there.
Future and Margin trading allow users to long and short their favorite crypto with leverage of 100x.
The exchange also provides staking, crypto lending, and holding KSC bonus that helps their traders earn a yield for holding their favorite cryptocurrency.
Compared to Coinbase, Kucoin has relaxed regulations and tax laws because of its operation running in Singapore.
Coinbase adheres to a higher level of regulatory enforcement. Moreover, Kucoin has suffered from a hack in the past, which might be a concern.
However, Kucoin is fully insured, and they have shown commitment to security, so your funds are safe.
Kucoin has a tiered level fee structure and offers an extremely low fee for both maker and taker fees.
The exchange charges 0.1% for each trade, and the fees decreased as the tier increases.
The fees can go as low as 0.03% for the maker and 0.07% for the trader at VIP level 4.
To top it off, Kucoin also gives a 20% fee reduction for each transaction if you pay using their native cryptocurrency called KSC.
|Highly secure||Not so great customer service|
|Several fiat currencies accepted|
Gemini is a basic but reliable Coinbase alternative that claims to help their customers purchase cryptocurrencies instantly.
The trading platform is popular amongst institutional investors due to the different features it offers.
Gemini is an ideal option for beginners since it offers a beginner-friendly and secure interface to its traders.
The exchange offers multiple buying and selling options and a digital hot wallet to send and receive tokens.
Gemini has some unique features that make it stand out from other exchanges.
The Gemini Earn program allows customers to earn interest on their net balance on certain cryptocurrencies such as DAI and Filecoin.
The third-party integration provides public API keys to connect to different software tools, which is attractive to many retail investors and fund managers.
Gemini Pay is another unique feature that allows users to pay using a Gemini account via cryptocurrencies.
Gemini has teamed up with more than 30,000 retailers, with more being adding to the list.
The unique features come with a higher fee structure.
Gemini charges more than the other exchanges.
A flat fee is charged for transactions using the web or mobile application.
The fees can range from $0.99- 1.49% of your order value.
Any transaction above $200 has a fee of 1.49%.
Gemini also charges commission rates.
There is a convenience fee of 0.50% above the current market rates.
|Secure from hacks or information leaks||Limited cryptocurrency to buy|
|US dollars account are insured.||Requires personal information|
|Easy to use interface||Frequently goes offline for maintenance|
CEX.IO is a cryptocurrency exchange that describes itself as a “guide to the world of transparent financial systems.”
The exchange claims to be reliable and secure; you can rest assured that hackers won’t steal your sensitive information.
With several payment options such as credit and debit cards and wire transfers and an easy buy and sell option, CEX.IO is a fantastic Coinbase alternative to traders.
CEX.IO provides spot trading for its traders, with the option of margin trading for its more experienced traders.
The trading platform offers a leverage of up to 100x, which is an appealing feature to many traders looking to earn huge profits.
Moreover, the exchange also provides a staking option to earn interest in the cryptocurrencies you hold.
Crypto loans facility also helps to lend out cryptos or borrow cryptocurrency from other users.
All these features combined with the CEX.IO mobile application makes CEX.IO one of the best alternative to Coinbase.
CEX.IO platform charges a trading fee of 2.99% for each trade.
The maker and trader fee structure depends on the trade volume for each pair.
A 0.25% and 0.16% is charged from maker and trader respectively for a trading volume below 5 BTC.
The charges are reduced for a higher trading volume to facilitate higher amount transactions.
|Supportive customer care||It doesn’t have a lot of cryptocurrencies|
|Offers several trading pairs||High fees|
|Easy to navigate|
Etoro is one of the leading exchange platforms that can serve as a perfect Coinbase alternative.
The exchange is ideal for traders who don’t want to miss out on perfect-time trading opportunities.
The exchange offers many ways to deposit funds combined with a maximum $500,000 trading amount.
The trading platform offers many unique features only available on Etoro.
A predetermined investment strategy is used for the portfolio management product.
Depending on the portfolio, users must spend at least $2,000 to $5,000 to auto-copy their portfolio.
Moreover, the copytrading feature also allows new traders to copy experienced traders with a minimum investment of $500 per trader.
The demo account feature is one of the most appealing features for beginner traders.
It allows traders to play around with $100,000 amount in trades before they invest real money.
The exchange also has features such as staking, launch pools, and crypto lending.
Etoro traders are free from the commissions.
However, a fee ranging from 0.75% to 5.0% is charged depending on the market situation and the coin you are investing in.
Other charges such as a conversion cost for changing other currencies to USD, a 12-month inactivity tax of $10 on accounts not operating, plus $5 for withdrawals from foreign users are also charged on eToro.
|Copy-trading feature available||Withdrawals can take time|
|Affordable fees||The verification process takes time|
|Several cryptocurrencies to choose from||The initial deposit is high|
Launched in 2014, Bittrex is a U.S blockchain platform that is considered a leader in the industry in terms of security.
The developers ensure that it is one of the safest and secure platforms for online trading.
They go as far as to call themselves “Paranoid with security.”
The platform boasts a wide array of cryptocurrencies and features such as spot trading with stop loss and sell orders.
All these features help ensure that traders have all the tools they need to earn profits.
However, Bittrex doesn’t allow margin trading.
The main highlight of this platform is the security features that this platform provides.
Many security options are available to users, such as 2-factor authentication, whitelisting IP addresses, a waiting period before withdrawing funds, etc.
All of these options are present to ensure unquestionable security.
The exchange also requires new users to disclose their personal information such as full name, address, date of birth, and national ID number.
Meaning users have to sacrifice their anonymity for added security.
The one downside of using this platform is the high transaction fee which as of February 2021 is 0.2% per trade under $50,000, which in comparison to other platforms is quite high.
The higher than the industry average transaction fee is the major deterrent to new users and is one of the only downsides of using this exchange.
The fee drops off drastically once you reach a high “30 Day Volume” threshold and is a motivator for traders who perform large value trades.
The maker fee is around 0.2%, and the taker fee ranges from 0.2% to 0.08%.
|High level of security and safety||High trading fees|
|Compliant legally in the USA||Limited amount of features|
|Great platform for straightforward trading with no unnecessary features.||Poor customer service|
Robinhood made a huge splash onto the financial scene in 2015 with the main selling point of commission-free trading of stocks and Exchange-Traded Funds(ETFs).
Later in 2018, they announced their commission-free crypto trading service that attracted the interest of experienced and new investors alike.
By making investment affordable and easy, Robinhood has become popular amongst millennials and new traders alongside an intuitive mobile app.
Robinhood allows trading in seven different cryptocurrencies and allows you to follow real-time price movements of 10 other altcoins.
Robinhood comes with most of the features you’d expect in a crypto trading platform.
Such as margin trading, loans for investors, buy, sell, market and limit orders, and much more.
There are a few things to keep in mind while trading on this platform.
One noticeable missing feature is the lack of a digital wallet (announced by the company to be released soon) and the inability to buy currency using a debit or credit card.
Users also cannot move their coins until its sold for cash, but you can exchange-traded funds.
Robinhood charges 0% fees on buying and selling cryptocurrencies, making it quite inviting to new traders.
However, commission-free trades do not translate to zero costs as prices of Cryptocurrencies may be marked up due to payment of order flow.
|No trading fee||Lack of a digital wallet|
|Intuitive and easy to use mobile app||Lack of transparency about costs (payment for order flow)|
|Supports trading in Crypto, Stocks, and ETFs||A limited number of Cryptocurrencies supported (7)|
|Allows Cryptocurrency trades of very small quantities|
Bitfinex is a Hong Kong-based Cryptocurrency platform that is, in most cases, used by veteran traders due to the advanced trading tools it provides.
The platform started in 2012 as a peer-to-peer cryptocurrency margin lending platform for bitcoin and now has some of the largest daily trading volumes in the crypto trading scene.
Bitfinex provides margin trading up to 3.3x leverage and Over The Counter (OTC) crypto trading options.
Futures are also available on Bitfinex.
Like Coinbase, a few platforms allow users to short cryptocurrencies, making it a strong alternative to Coinbase.
It also supports crypto to crypto and fiat to crypto trades.
Bitfinex provides a wide array of advanced trading options and order types.
Features like trailing stop, one cancels the other, stop loss give experienced users a high level of control over their investments.
Bitfinex is one of the cheapest trading platforms out there, and trading fees for takers range from 0.2% to 0.055% and maker fees from 0.1% to 0.0%, depending on the trade volume in the last 30 days.
Bitfinex also charges an extra fee for deposits smaller than $1000 for altcoins.
Deposits above $1000 are free. Bitfinex charges 0.1% of the amount for bank transfer deposits.
For deposits less than $1000 the charges vary according to the cryptocurrency being deposited.
Withdrawals, unlike deposits, are always charged in Bitfinex.
Bank transfers cost around 0.1% of the transaction, with express transfers (within 24 hours) charging 1%. High frequency (more than 2 per month) or large-sized (more than $1M) withdrawals have a 3% fee.
The fee for withdrawing cryptocurrency depends on the currency, and the fee is the same as that for “small deposits”.
|The fee structure is reasonable||Not designed for newbies in mind|
|High liquidity||Has faced major hacks in 2015 and 2016|
|Excellent for experienced traders||Not available for US citizens|
|Numerous order types||No credit/debit card deposits|
|Advanced trading features|
|Features more than 100 cryptocurrencies|
Bitmex stands for Bitcoin Merchantile Exchange.
Established in 2014 as a peer-to-peer cryptocurrencies platform is unlike most other traditional exchanges in the industry.
Bitmex deals largely in cryptocurrencies derivates trading such as leverage trading and futures.
As this exchange primarily deals in leveraged tradings and derivatives, it goes without saying that Bitmex is a platform more oriented towards veteran traders.
Leverage margin trading is the biggest thing about Bitmex, with leverage of up to x100 on Bitcoin contracts, x50 on Ethereum, and x25 on Monero.
Bitmex also offers a wide range of different order types, giving traders a variety of different options when investing.
Some of these include: fill or kill, immediate or cancel, post-only order, etc.
A great feature of the platform is that new users can immediately use leverage following account creation.
However, it carries a significant amount of risk and losses if you don’t fully understand what you’re doing.
Bitmex does not charge deposits or withdrawal fees as the exchange operates using Bitcoin as the base currency.
This also means that deposits or withdrawals using fiat currency are not an option.
As Bitmex is a P2P platform, it uses the maker-takers model.
The trading fee varies and depends on which cryptocurrency you are trading in and the type of contract involved.
Trading fees are 0.0750% for takers, but makers get paid 0.025% for trades.
Given below is the fee breakup for different cryptocurrencies and contract types.
|Margin trading of up to x100||Not available in the US and some other countries|
|No withdrawal or deposit fees||No support for fiat deposits or withdrawals|
|Low trading fee||Not beginner-friendly|
|Futures and derivates available|
|Highly secure platform|
Another great alternative to Coinbase – Webull is one of the newer names in cryptocurrency trading.
It started in 2017 and in a few short years, has gained the trust of many traders in the industry.
Webull is an online brokerage that, like Robinhood, focuses on commission-free trading in stocks, options, ETFs, and ADRs.
One of the biggest things Webull offers is its commission-free cryptocurrency trading that is available to traders 24/7.
Another attractive feature is that it allows users to trade with a minimum $1 deposit.
Users also can access leverage up to 4x day-trade and 2x overnight buying power using a margin trader account.
A big incentive of using Webull for trading cryptocurrencies is that it gives you an ecosystem to trade stocks, ETFs, options, and crypto all in the same place.
Currently, Webull offers trading in a limited number of cryptocurrencies.
These include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Zcash, and Stellar lumens.
Webull offers commission-free trading and has no inactivity fees.
Webull makes money on margin interest which is 7% per annum for traders with a debit balance of $25,000 or less and 4% for traders with $3,000,000 and above.
|Commission-free trading||Day trading is limited for users with less than $25,000|
|No minimum deposit||A limited number of cryptocurrencies are available|
|A secure and safe platform|
Crypto.com is the new breed of trading platform that studied the cons of other popular exchanges created an infrastructure that gives all the tools required to manage a lucrative crypto-trading company.
Even though, Crypto.com has not been on the market as long as other listed exchanges, I believe it’s a very solid alternative to Coinbase.
Let’s take a look at its features:
One of the highlighting features is Crypto.com MCO Visa card.
The card allows you to buy anything through your crypto wallet on any shop that accepts a Visa card.
Other than helping users buy and sell cryptocurrency conveniently, Crypto.com also allows you through earn through crypto deposits, giving 8% interest.
Moreover, the exchange also offers margin and derivatives trading.
Crypto.com classifies its users according to their monthly transaction volume.
The higher the transaction volume, the lower the maker and taker fees.
The fees percentage can range from 0.04% to 0.16%.
|Gives returns on crypto deposits||Lack of transparency|
|High-speed trading platform with competitive rates||Two token system is confusing|
|Reward cards with crypto offered to users|
|Offers promotions and discount|
Bitstamp is another trustworthy exchange that focuses on the European market.
This Coinbase alternative is a solid exchange offering people euro trading pairs that need liquidity.
Being licensed Luxembourg, it is the most powerful exchange in Europe.
With around 21 cryptocurrencies to buy and sell, Bitstamp allows users to trade instantly with USD and Euros.
Bitstamp provides a user interface that provides essential information such as buy/sell order, different indicators, and volume.
The information can be crucial to make good entries and exit.
Like all the other popular exchanges, Bitstamp fee percentage depends on the trading volume.
Users have to pay a minimum of 0.50% fee for a trading volume less than $10,000.
The fee decreases as the volume increase with 0% charged for $20,000,000,000.
Moreover, the exchange charges 5% for card purchases and 0.05% for wire transfers.
|Great Customer Service||Not ideal for beginners|
|Various fiat currency accepted||Not many cryptocurrencies|
|Reliable and trustworthy|
Voyager is a popular free Android and IOS app in the cryptocurrency industry, it began in 2017 and is currently only available in the US (in all states except New York).
It boasts commission-free trades and allows you to earn interest in their crypto investments up to 9% APR.
Voyager’s most attractive feature has to be the inviting and user-friendly platform they’ve developed which simplifies the whole process of crypto trading.
In particular, Voyager’s Smart Order Routing system makes comparing prices and making orders extremely easy and efficient.
The app features a solid collection of more than 50 cryptocurrencies and tokens, including some coins and tokens exclusive to the app or difficult to find on other exchanges.
Add commission-free trades on top of that, and you have a pretty decent platform for your crypto trading needs.
The app also is one of the few platforms that allow you to earn interest on coins you buy which can be up to 9% APR!
Although it is not as high as in other services, it’s a solid feature to have either way.
Voyager also features market and limit order types.
Voyager is a commission-free platform that the company believes due to its “Smart Order Routing System” often fills orders at a lower price than what was quoted and never more than the quoted price.
If Voyager does provide a better price on your order, it keeps a portion of the savings for itself.
Meaning that Voyager will only earn a fee if you save money, which is quite a sweet deal.
It is not mentioned how big a cut they receive, but according to Voyager, the share is decided by its algorithm and is variable.
Voyager also charges a fee on withdrawals that varies by coin.
|Intuitive and easy to use mobile app||Mobile-only platform with no desktop platform available|
|Commission-free trades||Only available in the US(except New York)|
|Allows users to earn interest on cryptocurrencies up to 9% APR||No coin to coin trades available|
|More than 50 cryptocurrencies to choose from||A pretty long verification process|
IDEX is one of the most up-to-date DEX (Decentralized exchange system) in the crypto world.
Launched in 2016, it holds up real-time trading and can manage various trades at once.
It is the successor of traditional DEXs based on modern features, reliability, and trustworthiness.
The trading platform is well known due to the security as it cannot access the user’s finance without permission.
The higher the speed, the higher the user’s reliability.
The swift performance of this platform makes it unique as it has a tremendous trading generator.
It can perform thousands of transactions and manage users at a time.
It provides a user-friendly interface that is uncomplicated to beginners.
IDEX has rapid trade implementation, which quickly executes the transaction without the pending and approval of a third party.
Moreover, the deposit methods are secure are offered in the form of private key and meta task, etc.
It offers spot and margin trading, which are effortless.
As the policy works on the Ethereum formula, it supports most of the tokens offered by the wide Ethereum network.
Unlike most of DEXs, IDEX offers a responsive and satisfactory customer support system.
IDEX charges 0% on the deposit, withdrawal, and spread of money which sounds cool.
The customer only pays the fees for trading, which is 0.1% for market makers and 0.2% for market takers.
There’s no discount for volume and the exchange of tokens.
|High security||No mobile app|
|Friendly interface||No volume discount|
|Advanced feature||Limited assets|
|Full custody of users|
The Winner Alternative To Coinbase
Binance is undeniably the best alternative to Coinbase and a clear winner!
The exchange offers numerous features and hundreds of cryptocurrencies that users can take advantage of.
Features like P2P trading, staking, crypto loans, and future and margin trading are some of the attractive features Binance has to offer.
Binance provides a user-friendly interface for both amateur and professional traders.
And with the incredible low fees structure and several payment options, it is one of the top picks if you are looking for a crypto trading platform.
Weighing all the Factors
When selecting a cryptocurrency exchange, it is critical to evaluate a variety of factors.
Exchanges utilize various methods to provide security measures, regulate users, expand their network, and provide a positive user experience.
Overall, strive to be informed about all of your possibilities and consider how you might identify the safe and profitable exchange in the long run.
Finally, don’t be scared to sign up for multiple exchanges and take advantage of them all.
NOTE: It's worth considering that even though all of the listed exchanges have the highest level of security none of them can protect your coins for 100%. Exchanges should be used for buying/selling crypto. If you're planning to hold your coins for a while I suggest you reading our article about the 2 best hardware wallets.