Top Coinbase Alternatives | The Best Exchanges You Should Use
Jack Moreau
Mar 2024
Fact checked
Introduction: While Coinbase is a popular choice for cryptocurrency trading, it isn't the only option out there. Today, we'll dive into the best alternatives to Coinbase and why you should consider them for your digital asset investments and trading!
Binance, established in 2017 by Changpeng Zhao, is a renowned cryptocurrency exchange based in the Cayman Islands. It operates in 186 countries and has over 6,000 employees.
Binance exchange
Binance boasts a global user base of more than 140 million users, although certain regions like the US, Ontario, Iran, and Syria have restrictions. Opening a Binance account is a quick process, but users must complete a Know Your Customer (KYC) verification by submitting essential information and documents.
Binance offers a wide range of services, including spot trading, futures trading, margin trading, perpetual swaps, options trading, staking, earning products, and a launchpad for new projects. It supports over 350 cryptocurrencies and is one of the most liquid exchanges worldwide.
Binance provides a user-friendly experience with daily spot trading volumes exceeding $10 billion and leverage of up to 125x on futures.
Trading fees include a spot maker fee of 0.1%, which can be reduced for high-volume traders or users holding at least 25 BNB tokens. Binance supports 26 fiat currencies and offers various deposit options such as bank transfers, Visa, Mastercard, PayID, and Advacash, each with different fees.
Regulatory compliance is a priority for Binance, as it is registered as a Digital Asset Service Provider (DASP) and Virtual Asset Service Provider (VASP) in multiple countries.
Uphold was founded by Halsey Minor in 2013, is a versatile digital money platform headquartered in London. Uphold's services extend to 184 countries, with restrictions in certain regions such as Argentina, Australia, Austria, Belgium, Germany and Netherlands.
Uphold exchange
Uphold offers a user-friendly platform for trading a diverse range of financial instruments, including cryptocurrencies, precious metals, and fiat currencies.
Uphold supports an extensive range of over 300 cryptocurrencies, encompassing popular options such as Bitcoin and Ethereum, as well as traditional currencies and commodities like gold and silver.
Uphold places great emphasis on security and regulatory compliance, strictly adhering to Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols. KYC verification is mandatory for all users, involving providing additional personal information and government ID.
Uphold boasts a user base of 10 million users and has over 5 million downloads of its Android app. Uphold supports staking for over 30 different cryptocurrencies and provides support for 15 stablecoins.
Users on Uphold can either deposit funds free of charge via bank transfer or buy crypto with a card subject to a 1% fee. Uphold charges a fee of $0.99 USD for cryptocurrency transactions under $100, with a spread ranging from 0.9% to 1.8% for trades above that amount. The spread fees are closer to 0.9%-1.2% in the US, EU, and UK.
Uphold supports three fiat currencies: USD, EUR, and GBP. Fiat deposits can be made through debit/credit cards, bank transfers (ACH/Wire) for USD, SEPA for EUR, and Faster Payments (FSP) for GBP. Fiat withdrawals can be made via bank transfers (ACH/Wire), SEPA, and Faster Payments (FSP), and they are free of charge.
Kucoin was established in 2017 by Michael Gan and is a global cryptocurrency exchange operating under MEK Global Limited, registered in Seychelles. With over 600 employees, Kucoin serves customers in over 200 countries, excluding the United States and China.
Kucoin Exchange
The exchange offers a diverse range of services, including spot trading, margin trading, futures, staking, lending, and the Windvave NFT marketplace.
Kucoin supports over 800 cryptocurrencies, encompassing popular options like Bitcoin and Ethereum, as well as a wide selection of hard-to-find altcoins.
Kucoin has attracted an impressive user base of over 20 million and KYC verification is not mandatory. Kucoin provides spot and margin trading for various altcoins, futures trading, leveraged tokens, and trading bots.
Additionally, the platform offers financial services such as lending and borrowing, enabling users to earn interest on their digital assets. The user experience on Kucoin is generally positive, thanks to its intuitive interface and diverse product range.
Kucoin consistently ranks among the top 10 exchanges in terms of liquidity, with daily spot trading volumes ranging from $600 to $900 million. Trading fees on Kucoin start at 0.10% for spot trading and 0.02% for futures trading, with potential fee reductions for high-volume traders and KCS token holders.
The exchange supports deposits in 28 fiat currencies, including EUR, AUD, CHF, GBP, RUB, and SEK. However, most fiat deposit options are limited to Visa and Mastercard, which carry a 3.8% deposit fee.
Bitget established in 2018 and headquartered in Singapore, operates as a crypto derivatives exchange registered in Seychelles. With a team of over 1,000 employees, Bitget serves users in 100 countries, excluding the United States and Canada.
Bitget Exchange
Since its launch in 2019, Bitget has gained significant traction in the crypto derivatives market, catering to over 8 million users globally.
Offering a wide range of products and services, including spot trading, futures, margin trading, copy trading, staking, earn products, and trading bots, Bitget provides a comprehensive trading ecosystem.
The platform ensures a user-friendly experience while boasting strong liquidity with an average daily spot trading volume exceeding $500 million. Bitget supports spot trading for over 500 cryptocurrencies, including popular options like Bitcoin and Ethereum.
Trading fees on Bitget are competitive, with a 0.1% fee for spot trading and 0.02% for futures trading. KYC verification is required for users looking to buy crypto with fiat or deposit fiat currencies. Bitget is licensed by FinCEN and regulated by the Monetary Authority of Singapore.
Kraken: Best Coinbase Alternative for Margin Trading
Founded in 2011, Kraken is a prominent cryptocurrency exchange headquartered in San Francisco, United States. With over 2,000 employees, Kraken operates in 190 countries and is renowned for its strong emphasis on security and reliability.
Kraken Exchange
The platform boasts a user base of over 9 million, primarily located in North America and Europe. Kraken offers a comprehensive suite of services, including spot trading, margin trading, futures trading, and staking.
The user-friendly interface caters to both beginners and experienced traders, allowing for seamless buying and selling of over 200 cryptocurrencies. Kraken's product range extends to leveraged products for sophisticated traders and an NFT marketplace.
All users are required to undergo a Know Your Customer (KYC) process to ensure identity verification. Spot trading fees start at 0.16%, while futures trading fees can go as low as 0.02%. Lower fees are available for users with monthly trade volumes exceeding $50,000.
Kraken supports deposits in seven fiat currencies, offering a variety of deposit methods. Fiat withdrawals are available for all supported currencies, with fees varying based on the chosen withdrawal method.
Kraken places significant importance on regulatory compliance and holds registrations as a Money Services Business (MSB) with FinCEN and is recognized by reputable regulatory bodies globally.
eToro: Best Coinbase Alternative for Stocks & Commodities
Founded in 2007, eToro is a prominent social trading and multi-asset investment platform with a global presence. Registered in Seychelles, it operates in 140 countries and boasts a team of over 2,000 employees.
eToro Exchange
eToro offers a user-friendly interface and innovative social trading features, allowing users to trade a diverse range of financial instruments, including stocks, commodities, indices, currencies, and cryptocurrencies.
Its community-driven approach has garnered a user base of 30 million and over 10 million app downloads. Registering on eToro takes approximately a minute, and KYC verification is mandatory for trading.
The platform provides an extensive product range, encompassing 80 cryptocurrencies, 3,000 global stocks, various indices, 30 commodities, 300+ Exchange-Traded Funds (ETFs), and more than 50 fiat currencies.
Trading fees on eToro consist of a 1% fee for buying and selling cryptocurrencies, without any rebates based on trading volumes. Supported fiat currencies include USD, EUR, GBP, and AUD.
Users can make deposits using bank transfers, PayPal, Skrill, Neteller, and credit/debit cards. Fiat deposits on eToro are free, while withdrawals can be made to bank accounts or debit cards, subject to a $5 withdrawal fee. e
Toro places strong emphasis on security and regulatory compliance, operating under the supervision of respected regulatory bodies like the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC).
MEXC: Best Coinbase Alternative for Copy Trading & ETFs
MEXC Global was established in 2018 by John Chen and registered in Seychelles, is a centralized cryptocurrency exchange with over 500 employees. Operating in more than 200 countries, MEXC serves a user base exceeding 6 million, with certain restrictions in place for the United States, Canada, and OFAC countries.
MEXC Exchange
The exchange offers a wide selection of over 1,000 cryptocurrencies and 2,000 trading pairs, providing users with a diverse range of trading options.
While KYC verification is not mandatory, completing primary or advanced KYC enables users to unlock additional features and higher withdrawal limits.
MEXC provides a comprehensive suite of trading products, including spot trading, leveraged ETFs, margin trading, quantitative trading, futures trading, copy trading, and demo trading.
With a daily spot trading volume exceeding $1 billion, MEXC showcases its strong liquidity and ranks among the top 10 exchanges. For futures trading, the platform offers leverage of up to 200x, while margin trading supports leverage of up to 10x.
Bank transfers via SEPA are available for EUR and GBP, and P2P trading is supported for VND, RUB, and KRW. Trading fees on MEXC vary depending on the product, with spot maker fees set at 0.2% and the potential for fee reductions for MX token holders. For futures trading, makers are not charged any fees, while takers incur a 0.02% fee.
Bybit, established in 2018 by Ben Zhou, is a rapidly expanding cryptocurrency derivatives exchange headquartered in Singapore and registered in the British Virgin Islands.
Bybit Exchange
With a team of over 1,000 employees, Bybit serves customers in more than 200 countries, excluding restricted regions such as the United States, the United Kingdom, Singapore, Quebec, and Ontario.
Bybit specializes in advanced trading options, providing leverage of up to 100x for perpetual contracts, futures, and inverse contracts for various cryptocurrencies such as Bitcoin and Ethereum.
With a user base exceeding 10 million, Bybit has gained significant traction in Europe and Asia. The platform offers a mobile app available for both iOS and Android, accumulating millions of downloads and maintaining a high user rating.
Bybit grants access to a diverse selection of 350 cryptocurrencies for buying and trading. The signup process on Bybit is streamlined, allowing users to register using their phone number or email. While KYC verification is not mandatory, it comes with certain limitations on withdrawals and the absence of fiat currency deposits.
Bybit offers an extensive product range, including spot trading, futures, margin trading, perpetual swaps, options, and leveraged tokens. Additional features encompass trading bots, copy trading, lending and borrowing services, an NFT marketplace, and the Bybit card for digital asset spending.
Daily spot trading volumes frequently surpass $1 billion, demonstrating the platform's liquidity. Trading fees on Bybit are competitive, with a fee structure of 0.10% for spot trading and 0.01% for futures trading. Bybit supports five fiat currencies for deposits and withdrawals, providing various payment methods to facilitate transactions.
OKX was founded by Star Xu in 2017, is a reputable cryptocurrency exchange headquartered in Hong Kong and registered in Seychelles.
OKX Exchange
With a team of over 1000 employees, OKX operates in 180 countries, offering an extensive array of trading services such as spot trading, margin trading, perpetual contracts, futures, and options.
Serving a user base of 20 million traders, OKX supports the trading of more than 350 cryptocurrencies. The signup process is seamless, requiring only an email or phone number, while basic KYC verification is mandatory for trading.
OKX prioritizes user experience, providing a user-friendly interface and maintaining high liquidity with average daily spot trading volumes ranging from $500 million to $1 billion.
The exchange imposes competitive trading fees, charging spot trading fees of 0.08% for makers and 0.10% for takers. For futures trading, makers are charged 0.02%, and takers pay 0.05%.
While fiat currency deposits are not supported, users can purchase cryptocurrencies using credit/debit cards or third-party payment providers. OKX holds a Virtual Asset (VA) license in Dubai, ensuring regulatory compliance and providing a secure trading environment.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
