If you’re looking for a reliable and user-friendly cryptocurrency exchange, you might be wondering if Coinbase is the best option. While Coinbase is certainly one of the most popular exchanges available, there are actually a number of alternatives that might be a better fit for your needs. In this blog post, we’ll take a look at some of the best Coinbase alternatives currently available.
Why People Are Switching to Coinbase Alternatives?
If you’re looking for a simple and straightforward way to buy, sell, and store cryptocurrencies, Coinbase may not be the best platform for you. There are other options available that may better suit your needs.
- Coinbase has a complex fee structure, with high fees on certain transactions. This can make it difficult to budget and plan your finances.
- There are limited staking and interest opportunities available through Coinbase. This means that you may not be able to grow your money as much as you could with other platforms.
- Coinbase also has a history of suspending accounts without warning or explanation. This can be frustrating and disruptive, especially if you’re in the middle of a transaction.
To help you identify the best alternative cryptocurrency platform to Coinbase, we asked finance experts and experienced investors this question for their best insights.
10 Alternatives to Coinbase Used by Crypto Investors (Experts) in 2023:
Brian Greenberg, CEO at Insurist: The best alternative to Coinbase is Gemini. It is also one of the apps like Coinbase that give free crypto to new users. It is a fully regulated licensed US cryptocurrency exchange that offers bitcoin, Ethereum, Bitcoin Cash, Zcash, and Litecoin trading.
Next, Gemini is the only licensed digital currency exchange in the world to offer FDIC insurance protection for digital assets. Gemini’s mission is to build a bridge to the future of money by helping institutions integrate cryptocurrencies into their businesses.
Gemini has also partnered with Cboe to allow customers to trade Bitcoin futures (XBT). As Coinbase does not offer any other crypto coins apart from BTC, ETH, and LTC as yet, Gemini is a better option for those who want a wider choice of coins.
Related: 15 Ethereum Alternatives & Competitors
Antreas Koutis, Administrative Manager at Financer: I am a crypto investor and have gone to a dozen seminars. I have also had the opportunity to meet the CEO of Bittrex at a meetup. I can confidently say that Bittrex is the best alternative to Coinbase. The thing that I like most about Bittrex is that they offer more than just Bitcoin and Ethereum.
They offer a large selection of altcoins, which is perfect for me because I like to diversify my portfolio. Another thing that I like about Bittrex is that their platform is very user-friendly. I would highly recommend Bittrex to anyone who is looking for a great alternative to Coinbase.
Gabriele Musella, CEO at Coinrule Limited: I think Bitpanda is better and cheaper even though they are not fully transparent about fee costs (they incorporate the fees in the overall amount to be paid). Bitcoin fees for withdrawal are 1.49% to buy and 1.29% to sell through Bitpanda.
Bitpanda is currently one of the least expensive exchanges for the instant buying and selling of Bitcoin. Coinbase fees are around 3.99% for a credit/debit card purchase and 1.49% for a bank transfer purchase. So, when looking for the best alternative to Coinbase, Bitpanda wins as the cheapest.
Value for money is one of the most important metrics that one should take into account while looking for the best alternative to a cryptocurrency exchange, as it shows whether the brand offers acceptable quality compared to the price.
In this case, Bitpanda provides the best value for money as an alternative to Coinbase.
See Also: What Is the Best Crypto to Buy Right Now and Why?
Matthew Ramirez, Founder at Paraphrase Tool: Frankly speaking, CEX.IO is an obvious alternative to Coinbase, but for me, it is far and away the best. The trading platform is among the most user-friendly and intuitive ones around, and the same goes for the company’s digital wallet.
What I like best is that the company’s headquarters are in London, which means they are regulated by the FCA, unlike many of their competitors. This gives me a lot of peace of mind.
Moreover, this Coinbase alternative is designed to be user-friendly and easy to use, and it offers a variety of features that make it an attractive choice for investors. For example, CEX.IO offers a mobile app that allows investors to track their portfolios and make trades on the go.
CEX.IO also provides a variety of research tools and resources that investors can use to make informed investment decisions. In addition, it offers a wide range of investment options, including stocks, ETFs, and mutual funds. As a result, investors of all experience levels can find an investment option that meets their needs on CEX.IO.
Tomasz Bartczak, Marketing Specialist at PhotoAiD: I have been a crypto trader since 2019, and I have been using the biggest cryptocurrency platform like Coinbase, Binance, Kraken, KuCoin, FTX, and Crypto.com. I can fairly say that a perfect alternative to Coinbase is FTX. Customer service responds immediately to any glitch reported by a user.
FTX offers free withdrawals and deposits, but if there is an exceptional need for fees, FTX will subsidize them. It’s easy to navigate, so anyone can use it. You don’t need to worry about scams as FTX takes the liberty of looking into projects with specialized team members to ensure projects are genuine and the security of traders and users alike.
Fiat currency is supported by FTX more than most cryptocurrency exchanges. You can buy stocks like Alibaba or Amazon using Ethereum or any cryptocurrency of choice. Interestingly, starting maker fees on FTX are 0.02% – when you compare that to Binance’s starting maker fees at 0.1%, it’s 80% cheaper. An exchange platform built by traders for traders.
Holger Sindbaek, Founder at Online Solitaire: I started as an investor on Coinbase and really liked their straightforward approach to buying crypto. The crypto world can feel foreign and even scary at times, and Coinbase added a sense of security. After a while, I wanted to trade crypto valutas I couldn’t find on Coinbase, so I decided to move to Binance.
I haven’t regretted my choice. I feel just as safe, I can trade many more types of cryptos, and they even make it easy to earn money by staking (holding) crypto. Nevertheless, It is designed to be user-friendly and is available in multiple languages.
Binance also offers a mobile app for investors who want to trade on the go. The exchange offers a variety of features, including a “Margin Trading” option for investors who want to trade with leverage. In order to start trading on Binance, investors first need to create an account and deposit funds into their accounts.
Once they have done this, they can then start buying and selling cryptocurrencies. Binance has built up a large user base due to its low fees and easy-to-use platform. It is definitely a trusted Coinbase alternative for crypto investors.
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Johannes Larsson, Founder at JohannesLarsson.com: There are many alternatives to Coinbase, but one of the most popular is Kraken. This platform offers a variety of features that make it a great choice for investors and traders. For investors, Kraken has a wide range of cryptocurrencies available for trading including Bitcoin, Ethereum, Litecoin, Dogecoin, and Ripple.
Additionally, you can also trade digital assets like stocks and ETFs. For traders, Kraken offers margin trading which allows you to borrow money from an exchange in order to increase your investment (provided the stock or asset’s value falls below your collateral).
Lastly, as part of its compliance policy with US authorities, cryptocurrency exchanges must report any suspicious activity within two hours!
Ludovic Chung-Sao, Founder at Zen Soundproof: I have been a crypto investor for more than a decade now and I can vouch that eToro is the best alternative to Coinbase. I have tried quite a few other popular platforms but I always come back to eToro. The thing I like most about eToro is that it is extremely user-friendly.
The platform is very intuitive and easy to navigate. Another great thing about eToro is the customer service. I have never had any issues with customer service on eToro. They are always quick to respond and resolve any issues I have had.
I will highly recommend eToro to anyone looking for a great alternative to Coinbase.
Related: 10 Bitcoin Alternatives
John Sarson, CEO, American Crypto Academy: In my opinion, CoinSmart is an effective crypto exchange option because it allows people to trade Bitcoin for fiat via a bank account. That bank account comes with a guarantee that the money appears in that account on the same day you make the trade.
If a user wishes to trade other cryptos for fiat, they may do so quickly by first swapping them for BTC on-the-spot exchange. After that, they may exchange the BTC for fiat. The trading fees also are reasonable. CoinSmart touts itself as a way of making crypto simple.
It follows through on that promise. All things considered, CoinSmart is a good way to go.
Nick Cullen, Editor at Solution Suggest: For new crypto investors, Robinhood is the perfect Coinbase alternative to start with. First and foremost, it’s free to use. That’s right – no commission fees, no account minimums, and no hidden costs. This makes it extremely accessible for anyone who wants to get started in crypto investing.
Additionally, Robinhood offers a user-friendly interface that is perfect for crypto beginners. The platform is also well-regulated, which adds an extra layer of security for users. Finally, Robinhood supports a wide range of crypto assets, meaning that you can diversify your portfolio with ease.
So if you’re looking for a crypto investing platform that is easy to use and won’t break the bank, Robinhood is the way to go.
See Also: Is It Safe to Invest In Cryptocurrency Now?
Additional Tip: What to Look For in a Crypto Exchange?
With the current surge in the popularity of cryptocurrencies, it’s no surprise that there are now a variety of different platforms available for buying, selling, and trading them. However, with so many options out there, it can be tough to know which platform is right for you. Here are a few things to look for when choosing a cryptocurrency platform:
- Ease of use: The platform should be easy to navigate and understand, even if you’re a beginner.
- Fees: Make sure you’re aware of any fees associated with using the platform, as they can vary significantly.
- Security: Cryptocurrencies are digital assets, so it’s important to make sure your platform of choice is secure and offers robust protections against hacking and fraud.
- Coins offered: If you’re looking to trade a specific type of cryptocurrency, make sure that the platform you choose offers it. For example, the platform you choose should have listed altcoins.
- Customer support: The crypto exchange must be available in your country and provide complete support through live chat, email, ticket, and phone.
By keeping these factors in mind, you’ll be well on your way to finding the perfect cryptocurrency platform for your needs. Also, before making investments, you should know why the crypto market is down.