Best Coinbase Alternatives
Crypto trading is now an essential activity for many users all around the world.
Taking care of your crypto portfolio ensures that you minimize market risk at all times.
For all those who are constantly exchanging crypto from their wallets to their bank account in a regulated exchange, Coinbase seems like a great option.
However, crypto buying and trading might sometimes feel a little bit limited in Coinbase.
This creates the need to find other crypto exchanges that serve as the best alternatives to Coinbase.
Fortunately, there are plenty of fish in the crypto market, so you’ll find centralized or decentralized exchanges that suit your needs.
In today’s blog post, we are going to be walking about:
- Best Coinbase alternatives to sell, trade, and purchase crypto;
- Best ways to choose a trading platform for your daily activities;
- Important things you need to know about the best crypto exchanges out there.
How to Choose a Cryptocurrency Exchange
We understand why you chose Coinbase.
You can sell Bitcoin, buy virtual currencies, deposit funds via a wire transfer, and use its very intuitive mobile app.
But you can’t buy XRP on Coinbase, nor other digital currencies that are trending on the market.
So, if you want to buy and sell some of these digital assets, you’ll need to use a Coinbase alternative.
But there are some things that you need to take into account before deciding to keep your precious crypto assets in other exchanges, so let’s get to it.
Network and Trading Fees
You need to check the exchange fees.
All exchanges out there charge network fees when you trade crypto, and these fees depend on the trading volume and other factors of the digital currency you are operating with.
Likewise, checking the fees range of the exchange you are about to choose will reveal important information related to the likelihood of you choosing it as an alternative to Coinbase.
Standard and Advanced Features
Exchange trades on Coinbase are pretty simple and easy to manage, but what about those who want to trade Bitcoin in higher volumes?
Right now, you probably see cryptocurrency trading as an irregular activity, but that might as well change.
Thus, advanced traders will surely appreciate knowing the full potential of the crypto exchange they are about to choose.
Security and Safety Measures
Crypto exchanges hacks are infrequent, but they can happen nonetheless.
Hence, checking the security measures offered by the Coinbase alternative you look at will help you know if they are the right choice for you.
Features like two-factor authentication, secure bank transfers, and control of your private keys are just some of the things you need to check before moving your assets to another exchange.
5 Best Coinbase Alternatives (Cryptocurrency Exchanges)
So, now it’s time to take a look at those exchanges that are good candidates for you.
The following five exchanges have proven to be very good, but you should always do your own research before making financial decisions.
1. Binance
Binance is the most popular cryptocurrency exchange out there - even more than Coinbase.
You can trade cryptocurrencies such as Bitcoin Cash, Bitcoin, Ethereum, Cardano, and more.
Binance is widely recognized due to its low fees.
Each trading fee is usually cheaper in Binance than in other exchanges.
On top of that, you can Withdraw from Binance to Bank in a quick way by linking your account with your favorite financial institutions.
Easy, efficient, and secure!
2. Crypto.com
Crypto.com is another big fish of the crypto world.
You can Sell Currencies on Crypto.com and store assets in your Crypto.com Wallet Address effortlessly.
Even though the name of the exchange is primarily related to its website, the truth is that Crypto.com has both mobile and desktop apps that are pretty easy to manage.
You can make a bank transfer, link a credit card or debit card, and pay with different fiat currencies.
Give it a try!
3. Kraken
Kraken is a regulated exchange that works better for those who live in the United States.
The withdrawal fees in the American country are among the lowest of all exchanges.
Besides, day-to-day traders can find fantastic options such as margin trading, futures trading, and OTC trading.
What’s more, the security levels on the platform are simply top-notch.
4. Gemini
Gemini is yet another exchange that offers a wide variety of products to take care of your crypto assets efficiently.
You can trade, sell and buy crypto on the exchange, as well as get the latest information of the market on their Cryptopedia.
Nonetheless, the fees are usually higher than in other crypto exchanges, but it depends on the product you are using.
5. Robinhood
Robinhood can only be appropriately used in the USA, which means that the payment method you add has to be linked with an account in that country.
When it comes to safety, Robinhood has proven to be a very reliable platform.
Nonetheless, there are only 16 different cryptocurrencies to exchange on their platform, so it might be a little limited for those who want more options.
Final words - Coinbase is great, but it’s not the only exchange out there.
We have presented to you the best options - choose wisely!
Coinbase Alternatives 2022 FAQ
Does Binance Have Lower Fees Than Coinbase?
Yes, it does. We have compared Binance vs. Coinbase previously on our website, so give that blog post a good read!
Is Trading on Robinhood Crypto Exchange Safe?
Robinhood ensures the protection of your account through different security measures that are available for all users.
What’s the Difference Between Coinbase and Coinbase Wallet?
Coinbase Wallet is a different product that works as an individual crypto wallet to keep your assets in a non-custodial environment.
To learn more about Coinbase Wallet, read our Coinbase vs. Coinbase Wallet blog post.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.