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Coinbase is an online platform where you can buy, sell, store and transfer your cryptocurrency. Its mission is to facilitate an open financial system and help users transfer digital currencies to and from their local fiat currency.
Being a legitimate broker and cryptocurrency exchange, Coinbase attracts many prominent investors. While it’s better for beginners, its upgraded version, Coinbase Pro, has advanced features, such as a wider range of order types and performance charts.
However, not everyone is a fan of the platform’s interface or high fees. Our list will help you find the best Coinbase alternative for your daily crypto transactions.
7 Coinbase Alternatives
Many users are complaining about Coinbase’s poor customer support. Moreover, the deposit time extends a few days if you use bank transfer. Additionally, fees such as network transactions and metallic fees can be high. It makes sense that a lot of people are looking for a Coinbase alternative.
Here are some options to choose from:
According to the developers, Gemini brings elegance and simplicity on its platform, where you can create a crypto wallet for yourself.
Since it is fully regulated, you can trade cryptocurrencies around the world with confidence. Gemini trades in Bitcoin Cash, Bitcoin, Ethereum and similar currencies.
As for the fees, you can expect to pay nothing for the volume of deals. The security on the platform is also impressive. Overall, it is a decent crypto exchange for beginners who don’t need a lot of advanced capabilities.
- Get up to 3% back in Bitcoin and other cryptocurrencies when you purchase with a Gemini credit card
- Compatible with SOC 1 Type 2 and SOC 2 Type 2
- US dollars held in the account are eligible for FDIC insurance
eToro advertises itself as a cryptocurrency exchange with a social trading concept. eToro users can view the wallets of their peers and get crypto-related tips from them.
If you are not sure about your cryptocurrency trading skills, you can copy the prominent traders on the platform. With this feature, cryptocurrencies are automatically traded as they are traded.
Even better, beginners who don’t want to lose their real money can try exchanging a $100,000 virtual wallet with a demo account. Although Coinbase has tutorials and guides on cryptocurrency trading, a virtual wallet allows you to get hands-on with the process.
Most importantly, there are no trading fees and no hidden fees on the platform. When you buy cryptocurrency, eToro charges the spread and adjusts it when you sell your coin.
The conversion fee on eToro is very low, at just 0.1%.
- Two-factor documentation
- 17 cryptocurrencies available
- 0% commission
- Cold storage of cryptocurrencies stored in the trading platform
If you are interested in altcoins, you have probably already heard of Binance. Binance offers more than 50 altcoins, as well as customer support available at any time through the platform’s online contact form.
Binance can be compared to Coinbase Pro in that you can trade cryptocurrency pairs. However, the latter has more options to trade.
- Payment methods include: SWIFT bank transfer, bank deposit, credit or debit, P2P trading or via third parties, such as Simplex
- 0.1% trading fee on any transactions not using Binance or BNB
- Two-factor authentication and biometric login
- Simple and professional mode for users on the mobile app
If you want to get the best of cryptocurrency and traditional finance, try Robinhood, where you can trade stocks and cryptocurrencies side by side.
Before discussing its features, we must warn you that the platform does not allow you to withdraw your coins, although the feature is expected to be launched soon. Thus, you will have to sell your cryptocurrencies if you want to buy alternative digital currencies from another exchange.
To get started, all you have to do is download the Robinhood app, where you can manage all your investments in one place. Interestingly enough, the platform allows you to use your stock funds to buy cryptocurrencies.
- No trading commission
- Two-factor authentication, biometric login and cold storage
- ACH . conversions
- Trade stocks and cryptocurrency in one place
Bitfinex allows you to trade Litecoin, Ethereum, EOS, and other cryptocurrencies. The trading platform also has advanced charting tools for professional users who want to visualize their earnings and current market conditions.
Moreover, you can download the Bitfinex app on your iOS or Android mobile devices to trade cryptocurrencies on the go.
- Integrates with many products and platforms
- Trading is allowed with up to 10 times the leverage
- Supports many different types of requests
- Comprehensive Reports
Have you ever thought about saving cryptocurrency as a retirement plan? Well, iTrustCapital lets you do that. The platform offers cryptocurrency IRAs.
You can open an account by transferring an existing IRA, or funding a new one. Alternatively, you can renew your current employer plan.
The best thing about these deals is that they are not taxable. Trading fees are reasonable, with a standard fee of 1%. In addition to the trading fee, you also have to pay $29.95 per month to maintain your account.
- Allows trading in BTC, ETH, XRP, LTC, BCH and EOS
- 1% trading commission
- Two-factor authentication and cold storage
Last but not least, Kraken, which is perfect for advanced traders who don’t fancy Coinbase’s simplistic features. The platform allows users to trade at least 90 cryptocurrencies as well as US dollars, Australian dollars, euros and other fiat currencies.
The one thing that makes Kraken superior to Coinbase is the verification level feature. These are: Starter, Express, Intermediate, and Pro. You can be a beginner with capabilities such as depositing, withdrawing and exchanging cryptocurrencies.
Intermediate users of Kraken enjoy the same features as well as fiat deposits. You need to give your Social Security number for this level. Meanwhile, professional verification gives you access to OTC trading desk and dark aggregator. This level allows you to make orders in large volumes.
While these features are useful, Kraken’s interface can be confusing for beginners.
- Availability all over the world
- 0% to 0.26% fee on the total value of orders
- Cold storage and two-factor authentication
- wire transfer
Take the final
Before you choose a cryptocurrency exchange, make sure you have a clear idea of your investment plans. If Coinbase is not the best for you, try one of these Coinbase alternatives.
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