Alternatives To Coinbase
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Coinbase was founded in 2012 and is a platform for buying, selling, storing, and trading cryptocurrency. It supports over 150 cryptocurrencies and is designed for traders new and advanced. But while a popular platform, there are some excellent alternatives to Coinbase.
Read on to review and compare Coinbase vs. Binance, Kraken, BitMEX, Crypto.com, and Gemini. We wrap up by answering what broker to use instead of Coinbase for those ready for a change.
Alternative Crypto Brokers
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1NinjaTrader
Ratings
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire TransferUSD -
2eToro USAInvest $100 and get $10https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
Ratings
$10$10SEC, FINRAStocks, Options, ETFs, CryptoeToro Trading Platform & CopyTraderACH Transfer, Debit Card, PayPal, Wire TransferUSD -
3OANDA USCFDs are not available to residents in the United States.
Ratings
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
4IGForex trading involves risk. Losses can exceed deposits.
Ratings
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOBCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
5UpholdTerms Apply. Cryptoassets are highly volatile. Your capital is at risk.
Ratings
$0$1CryptosDesktop Platform, Mobile AppWire Transfer, ACH Transfer, Bitcoin Payments, Debit Card, Credit Card, Mastercard, Visa, Ethereum PaymentsUSD, EUR, GBP -
6IQCent20% to 200% Deposit Bonus
Ratings
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
7CloseOption$10 Welcome Gift
$5$1National Bank of GeorgiaBinary Options on Forex & CryptosOwnPayPal, WebMoney, Mastercard, Perfect Money, Wire Transfer, Bitcoin Payments, Ethereum PaymentsUSD -
8Zacks Trade
$2500$3FINRAStocks, ETFs, Cryptos, Options, BondsOwnWire Transfer, ACH Transfer, ChequeUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF -
9FirstradeDeposit Bonus Up To $4000
$0$1SEC, FINRAStocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, FixedOwnACH Transfer, Wire Transfer, Cheque, Automated Customer Account Transfer ServiceUSD -
10Videforex20% to 200% Deposit Bonus
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB
Here is a short summary of why we think each broker belongs in this top list:
- NinjaTrader - You can get exposure to micro Bitcoin futures through the CME Group’s centralized exchange, which is highly regulated by the US CFTC. Micro contracts allow you to trade a fractional size of one Bitcoin, giving you more risk control and order flexibility.
- eToro USA - eToro US offers 24 tradeable cryptoassets, with just a 1% buying/selling fee added to the spread. Additionally, there are 80 different coins available through the broker’s proprietary wallet service. You can also practice your crypto strategies easily by switching between live and demo mode. Crypto asset investing is highly volatile and unregulated. No consumer protection. Tax on profits may apply.
- OANDA US - Cryptocurrency trading is offered via Paxos, a separate entity from Oanda. You can speculate on the world’s biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Through the broker’s partnership with Paxos, clients can spot trade cryptocurrencies on the itBit exchange through the OANDA native platform.
- IG - IG's modest selection of 11 crypto CFDs trails top crypto brokers like Vantage which offers 40+ tokens. That said, it stands out with its crypto index, which tracks the value of the top 10 digital currencies by market cap and provides a holistic way to speculate on the value of the crypto market.
- Uphold - You can buy and sell 250+ crypto assets with fiat currencies or in crypto pairs using the straightforward mobile app or through Uphold's browser-based account homepage. This is significantly more than many rivals. You can also earn up to 16% APY by staking one or more out of 32 valid tokens, or send tokens to an external wallet.
- IQCent - IQCent offers 17 crypto pairs through its proprietary terminal, including Bitcoin, Ethereum and Litecoin. Leverage on crypto CFDs is capped at 1:10, whilst binary options payouts vary by token but remain competitive. OTC assets, for example, pay out up to 95%.
- CloseOption - CloseOption traders can access high/low binary options on five major cryptos all paired with USD. Payouts of 40% are available due to digital assets' high market volatility, which compares well with rivals.
- Zacks Trade - Clients can trade a modest handful of cryptos including Bitcoin, Ethereum, and Litecoin. Real-time quotes are available and fees are low. Commissions also drop if you trade digital currencies in high volumes.
- Firstrade - Take positions on dozens of leading cryptocurrencies with low fees and 24/7 investing. Traders need just $1 to start speculating on popular tokens like Bitcoin. Clients can also buy cryptos instantly in a few straightforward steps.
- Videforex - Traders can speculate on crypto prices in pairs with USD and CNY through binary options and CFDs. The range of digital currencies is fairly narrow vs alternatives but major tokens like Bitcoin are available.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
Coins | BTC |
---|---|
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | Floating |
Crypto Lending | No |
Crypto Staking | No |
Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
Minimum Deposit | $0 |
Regulator | NFA, CFTC |
Account Currencies | USD |
Pros
- Traders can get free platform access and trade simulation capabilities in the unlimited demo
- You can get thousands of add-ons and applications from developers in 150+ countries
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
Cons
- The premium platform tools come with an extra charge
- There is a withdrawal fee on some funding methods
- Non forex and futures trading requires signing up with partner brokers
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
Jemma Grist, Reviewer
eToro USA Quick Facts
Bonus Offer | Invest $100 and get $10 |
---|---|
Coins | BTC, ETH, BCH, DASH, LTC, ETC, MIOTA, XLM, EOS, NEO, ZEC, XTZ, MKR, COMP, LINK, UNI, YFI, DOGE, AAVE, ALGO, MANA, ENJ, BAT, MATIC, FLR, SHIBxM |
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | BTC 0.75% |
Crypto Lending | No |
Crypto Staking | No |
Platforms | eToro Trading Platform & CopyTrader |
Minimum Deposit | $10 |
Regulator | SEC, FINRA |
Account Currencies | USD |
Pros
- Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
- eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
- A free demo account means new users and prospective day traders can try the broker risk-free
Cons
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
- Average fees may cut into the profit margins of day traders
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
Jemma Grist, Reviewer
OANDA US Quick Facts
Coins | BTC, ETH, LTC, BCH, PAXG, LINK, UNI, AAVE |
---|---|
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | $100 |
Crypto Lending | No |
Crypto Staking | No |
Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
Minimum Deposit | $0 |
Regulator | NFA, CFTC |
Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
- The broker offers a transparent pricing structure with no hidden charges
- Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
Cons
- It's a shame that customer support is not available on weekends
- There's only a small range of payment methods available, with no e-wallets supported
- The range of day trading markets is limited to forex and cryptos only
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
Christian Harris, Reviewer
IG Quick Facts
Coins | BTC, BCH, LTC, ETH, ADA, DOT, DOGE, LINK, UNI, XLM |
---|---|
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | Variable |
Crypto Lending | No |
Crypto Staking | No |
Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
Minimum Deposit | $0 |
Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB |
Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
Cons
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
Uphold
"Uphold remains a top choice for crypto investors looking for a one-stop-shop solution to accessing the markets. There are over 250 tokens to buy, sell and trade through flexible platform options."
William Berg, Reviewer
Uphold Quick Facts
Coins | BTC, BTCO, AAVE, ALCX, DYDX, INH, XYO, API3, GHST, LSK, AUDIO, GLMR, NMR, CAKE, GODS, REQ, CHR, TRB, DAO, ROOK, XRP, ETH, BAT, ADA, ALGO, ATOM, AVAX, AXS, BCH, BAL, BTG, CSPR, COMP, CRV, DASH, DCR, DGB, DOGE, DOT, EGLD and many more |
---|---|
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | Up to 1.5% |
Crypto Lending | No |
Crypto Staking | Yes |
Platforms | Desktop Platform, Mobile App |
Minimum Deposit | $0 |
Account Currencies | USD, EUR, GBP |
Pros
- Uphold is 100% reserved which helps to protect client funds
- The proprietary app is extremely easy to use with a slick design and navigation
- Uphold continues to remain ahead of the industry, often being one of the first platforms to list new crypto tokens
Cons
- Uphold operates with limited regulatory oversight
- There is a 2.49% fee if you want to use debit or credit cards
- The charting analysis features on the platform trail specialist exchanges
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
Jemma Grist, Reviewer
IQCent Quick Facts
Bonus Offer | 20% to 200% Deposit Bonus |
---|---|
Coins | BTC, ETH, LTC, ETC, DOGE, MATIC, QNT, SOL, XRP, USDT, XMR, BNB |
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | Variable |
Crypto Lending | No |
Crypto Staking | No |
Platforms | Online Platform, TradingView |
Minimum Deposit | $250 |
Regulator | IFMRRC |
Account Currencies | USD, EUR |
Pros
- There's an accessible $0.01 minimum stake for new day traders with a small budget
- The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
- Keen traders can take part in trading contests with cash prizes
Cons
- The market analysis is very basic with limited technical summaries and insights from analysts
- There's no automated trading support for algo traders
- The broker is not overseen by a respected regulator, though this is common among binary options firms
CloseOption
"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."
Tobias Robinson, Reviewer
CloseOption Quick Facts
Bonus Offer | $10 Welcome Gift |
---|---|
Coins | BTC, BCH, ETH, LTC, XBT |
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | No fee - payouts approx. 40% (Copper) |
Crypto Lending | No |
Crypto Staking | No |
Platforms | Own |
Minimum Deposit | $5 |
Regulator | National Bank of Georgia |
Account Currencies | USD |
Pros
- The user-friendly platform is compatible with most web browsers
- Multiple global payment methods are available
- Free demo account
Cons
- CloseOption is not regulated by a well-regarded trading authority
- Binary options are only available on fiat and digital currencies
- Clients need to deposit $50,000+ to qualify for the best payouts
Zacks Trade
"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."
Tobias Robinson, Reviewer
Zacks Trade Quick Facts
Crypto Mining | No |
---|---|
Auto Market Maker | No |
Crypto Spread | 0.18% fee per trade |
Crypto Lending | No |
Crypto Staking | No |
Platforms | Own |
Minimum Deposit | $2500 |
Regulator | FINRA |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF |
Pros
- Regulated by FINRA with access to the Securities Investor Protection Corporation
- Customizable proprietary trading platform and mobile app
- 20+ account denominations
Cons
- Shortcomings regarding platform loading times and technical glitches
- No forex, commodities or futures trading
- Withdrawal fees apply if removing funds more than once per month
Firstrade
"We recommend Firstrade for beginner investors looking to trade US stocks with no commissions. There is a wealth of free education plus premium-quality research and trading ideas from Morningstar, Briefing.com, Zacks and Benzinga."
William Berg, Reviewer
Firstrade Quick Facts
Bonus Offer | Deposit Bonus Up To $4000 |
---|---|
Coins | ALGO, AVAX, BAT, BTC, BCH, ADA, LINK, ATOM, CRO, CRV, MANA, DOGE, ETH, ETC, FTM, LTC, LRC, MATIC, REN, SHIB, SOL, XLM, SUSHI, GRT, UNI, YFI |
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | Variable |
Crypto Lending | No |
Crypto Staking | No |
Platforms | Own |
Minimum Deposit | $0 |
Regulator | SEC, FINRA |
Account Currencies | USD |
Pros
- Access to education, research, and tools
- Commission-free investing
- Regulated by SEC and FINRA
Cons
- Visa Credit/debit card deposits and withdrawals not accepted
- No demo/paper trading account
- Some withdrawal fees
Videforex
"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."
William Berg, Reviewer
Videforex Quick Facts
Bonus Offer | 20% to 200% Deposit Bonus |
---|---|
Coins | BTC, ETH, QUANT, UNI, SOL, BNB, DOGE, XRP, XMR, MATIC, USDT |
Crypto Mining | No |
Auto Market Maker | No |
Crypto Spread | Floating |
Crypto Lending | No |
Crypto Staking | No |
Platforms | TradingView |
Minimum Deposit | $250 |
Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- Global clients can make free and fast transfers via a wide range of payment types, from credit cards to cryptocurrencies
- The support times are fast and reliable based on tests - few brokers offer 24/7 multi-lingual video support
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, which is in line with competing brands like IQCent
Cons
- The broker isn’t overseen by a trusted regulatory agency
- No MetaTrader 4 integration
- US clients aren’t accepted due to legal restrictions
About Coinbase
The firm is based in San Francisco and is a fully licensed and regulated cryptocurrency exchange in 45 US states. Its services are also available globally, including to investors in Australia, the UK, Europe, South America, and Africa. In fact, the crypto exchange boasts over 98 million verified users across more than 100 countries. And while our best alternatives to Coinbase have a lot to offer in terms of tools, features, and fees, few can match the global reach of the crypto exchange.
Products
Coinbase offers a wide range of products to suit beginners and professionals:
- Coinbase – Buy, sell, trade, and store over 150 tradable cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin.
- Wallet – Retail investors can manage and store their crypto assets without a centralized brokerage or exchange. There are options to use US dollars or other fiat currencies. Protect your digital assets with industry-leading security.
- Coinbase Pro – Formerly GDAX, Coinbase Pro is a premium service with an intuitive interface including real-time order books, charting tools, trade history, and a simple order process so you can trade from day one.
- USD Coin (USDC) – A digital stablecoin that is pegged to the United States dollar.
Platforms
Coinbase
Coinbase is a secure online trading platform that utilizes the US dollar to purchase a growing list of over 150 cryptocurrencies. Geared towards beginners, it has a straightforward, user-friendly interface with options to ‘buy’, ‘sell’ or ‘convert’ when placing a trade.
![Coinbase substitutes](https://www.daytrading.com/wp-content/uploads/2021/02/Alternatives-to-Coinbase.jpg)
Note, the mobile app can be accessed on Android and iOS devices.
Coinbase Pro
As outlined above, Coinbase Pro was formerly known as Global Digital Asset Exchange (GDAX). It is an in-depth platform that caters to more advanced traders. On top of the same functionalities as the original platform, it offers advanced charting functions and the ability to place market limits, stop orders, an easy order process, and detailed trade history. Investors can specify an order type or default to market.
![Substitutes to Coinbase Pro platform](https://www.daytrading.com/wp-content/uploads/2021/02/Coinbase-Pro.png)
Fees
With the exception of Coinbase Pro, fees are expensive compared to competitors. They vary between 0.5% and 4.5% and between payment methods, cryptocurrency type, transaction size, and platform used.
There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. A network fee is necessary to have your transaction processed by the decentralized cryptocurrency network.
If you stake your assets with Coinbase, your reward will be determined by the protocols of the applicable network. The firm will distribute this reward after receipt, minus a 25% commission.
The exchange charges spreads of 0.5% for crypto purchases and sales. Depending on market fluctuation, rates may be higher or lower. On top of that, they also take a flat fee or variable percentage, depending on region, amount purchased, product feature, and payment type. For example, a $100 purchase of Bitcoin with a USD bank account will come with a flat fee of 1%.
Suppose you borrow USD from Coinbase or an affiliate. The brand has to sell your BTC collateral (as they are authorized to do under an applicable loan agreement). In that case, there is a flat fee of 2% of the total transaction.
On the other hand, Coinbase Pro’s fee schedule is straightforward and less expensive. It is based on monthly trading volume and a taker-maker model, which depends on the liquidity of the asset at the time of purchase. Varying between pricing tiers, taker fees are between 0.05% to 0.6%, while maker fees are between 0.00% to 0.4%.
On the basic Coinbase platform, deposits on wire transfers are $10 and $25 to withdraw. The exchange also requires a minimum of $2 to purchase and sell and is capped at $25,000 a day. Trade and balance levels are unlimited on Coinbase Pro. However, withdrawals are limited to $25,000 by default, which can be increased by request.
Best Alternatives To Coinbase
While the crypto exchange has a lot to offer, there are several strong alternatives to Coinbase. See our comparison below:
Binance
Founded in 2017, Binance’s broker terminal is a good alternative to Coinbase for those looking to buy and sell crypto instantly.
Compared to Coinbase, Binance offers a wider range of modes that suit all skill levels. They offer Classic, Advanced, Margin, Convert, and P2P. Classic provides a more traditional platform with charts and options to trade with stop loss, by market, or limit order. Advanced offers all the Classic features but with full access to trading tools. Margin allows traders to increase profits with leverage. Convert is an OTC trading platform that offers quick settlements for larger buy or sell trades. Lastly, P2P will enable you to buy and sell cryptocurrencies among fellow Binance users with zero fees.
It is also worth pointing out that Binance offers a greater range of over 600 crypto coins. Additionally, it has among the best apps for crypto trading.
![Brokers like Coinbase - Binance](https://www.daytrading.com/wp-content/uploads/2021/02/Binance-platform-1024x408.png)
Binance’s fee structure is less complicated and cheaper compared to Coinbase. It offers a tiered fee structure based on 30-day cumulative trading volumes. It charges 0.1% for all trades and offers a 25% discount on fees that use Binance Coin. Unlike Coinbase, Binance does not charge any deposit fees but withdrawal fees change based on the market.
Together, this makes Binance one of the best alternatives to Coinbase.
Kraken
While Kraken offers advanced trader services, it is also considered beginner-friendly. Moreover, it is a great alternative for advanced traders compared to Coinbase Pro.
Established in 2014, Kraken is a hassle-free cryptocurrency exchange. It has margin and OTC trading with over 120 coins. Unlike Coinbase, it does not offer a wallet or its own crypto coin.
Platforms include the Kraken Terminal and Cryptowatch. The Kraken terminal allows you to view markets in real-time and access customizable price charts with a live trade feed, order book, and a depth chart to help you visualize market sentiment.
Advanced features on Cryptowatch include an additional 25 crypto exchange services, automated orders, technical analysis features, and more.
![Alternatives to Coinbase - Kraken](https://www.daytrading.com/wp-content/uploads/2021/02/Kraken.png)
Fees on Kraken Pro are significantly cheaper than Coinbase and Coinbase Pro. The fee schedule depends on your last 30-day trading volume and is based on a taker-maker model. For example, an account with a 30-day volume of $0 to $50,000 will pay a 0.16% maker fee or 0.26% taker fee. A detailed fee schedule is available on the Kraken website.
Overall, Kraken is among the strongest alternatives to Coinbase.
BitMEX
BitMEX is a peer-to-peer (P2P) crypto trading platform that offers leveraged contracts bought and sold in Bitcoin.
Unlike Coinbase, BitMEX does not handle fiat currency but offers up to 1:100 leverage. As Coinbase has disabled margin trading due to regulatory changes (and is now only available on Coinbase Pro), BitMEX is a great alternative.
BitMEX only offers three Bitcoin products; XBT Perpetual, XBT Quarterly Future, and XBT Biquarterly Future. Instead of investing in currency directly, users simply trade contracts, which can be more volatile than traditional investing. As a result, this platform is more suited to advanced crypto traders.
![Alternatives to Coinbase - BitMEX](https://www.daytrading.com/wp-content/uploads/2021/02/Bitmex-1024x485.png)
Since BitMEX only exchanges cryptos, it does not incur added fees for buying crypto with cash. Thus, fees are as low as 0.01% to 0.075%. It also does not charge fees on deposits or withdrawals. However, a minimum Bitcoin Network Fee is paid to the Bitcoin miner who processes your transaction (this fee does not go to BitMEX).
Ultimately, BitMEX is one of the best alternatives to Coinbase for users looking to cut costs and advanced investors.
Gemini
Gemini is more suited to advanced traders. It has similarities to Coinbase, such as the ability to buy and sell using fiat and cryptocurrencies. However, Gemini offers different buy and sell orders. On top of that, it has a wider range of platforms that suit all levels, such as a simple web interface or a more advanced ActiveTrader platform. On the downside, Gemini currently only offers around 50 cryptocurrencies.
![Alternatives to Coinbase - Gemini](https://www.daytrading.com/wp-content/uploads/2021/02/Gemini.png)
Importantly, investors are more likely to save on Gemini as it does not charge for deposits and only up to 3.64% when trading. With that said, the fee schedule on Gemini vastly differs depending on the products used and trades made in a 30-day period. For example, a trading volume of up to $100,000 on the ActiveTrader platform charges a 0.2% taker and 0.08% maker fee, which is cheaper than Coinbase Pro.
Overall, Gemini is one of the top alternatives to Coinbase for those looking for a wider range of cost-efficient trading platforms and tools.
Crypto.com
Monaco Technologies GmBH was the initial trade name for Crypto.com, which was founded in 2016. The owner’s goal was to accelerate the world’s adoption of cryptocurrencies. Today, the firm is headquartered in Hong Kong and has over 4,000 employees in countries such as China, Russia, the United States, and the United Kingdom.
Various financial institutions regulate the firm in each of its operating nations, ensuring that it complies with monetary and risk-prevention laws, such as the FCA in the United Kingdom. And with over 50 million users across 90+ supported countries, the exchange is continually growing.
![Alternatives to Coinbase - Crypto.com](https://www.daytrading.com/wp-content/uploads/2022/06/buy-and-sell.webp)
Crypto.com became the first-ever official global partner of UFC in 2021, and the total number of CRO coins available is capped at 30 billion. This follows the burning of 70 billion CRO tokens, the greatest such burn in crypto history.
The trading costs on Crypto.com are both competitive and clear. Trading fees are dependent on volume, so the more you trade, the more discounts you get. And importantly, there are no hidden fees. But because the trading volumes necessary for the lower costs are so high, inexperienced investors may not be able to take advantage of this benefit.
Fortunately, staking and paying fees with CRO might help you save money. On CRO stakes, you can get a 10% p.a. bonus.
The following is a fee tier guide for trading and selling:
- Level 1: 30-day trading volume of $0-$25,000, 0.4% maker and 0.4% taker charges
- Level 2: 30-day trading volume of $25,001-$50,000 0.35% maker and 0.35% taker charges
- Level 3: 30-day trading volume of $50,001-$100,000, 0.15% maker and 0.25% taker charges
- Level 4: 30-day trading volume of $100,001-$250,000, 0.1% maker and 0.16% taker charges
- Level 5: 30-day trading volume of $250,001-$1,000,000, 0.09% maker and 0.15% taker charges
- Level 6: 30-day trading volume of $1,000,001-$20,000,000, 0.08% maker and 0.14% taker charges
- Level 7: 30-day trading volume of $20,000,001-$100,000,000, 0.07% maker and 0.13% taker charges
- Level 8: 30-day trading volume of $100,000,001-$200,000,000, 0.06% maker and 0.12% taker charges
- Level 9: 30-day trading volume of $200,000,001+, 0.04% maker and 0.1% taker charges
Because Crypto.com has over 250 tokens available, the exchange makes for a good alternative to Coinbase. Similar to Coinbse Earn, you can also complete missions. In exchange, you get diamonds which can be converted into prizes.
Pros Of Coinbase
- Trading on more than 150 cryptocurrencies
- Simple interface for new crypto investors
- Cryptocurrencies are insured
- Low minimum deposit
- High liquidity
Cons Of Coinbase
- Complicated and expensive fee structure on original Coinbase platform
- Growing list of reliable alternatives to Coinbase broker
- Lack of autonomous control on wallet keys
Final Word On Alternatives To Coinbase
Considered one of the top cryptocurrency exchanges in the industry, Coinbase is well-positioned to meet various investment goals and skill levels. Coinbase Pro also provides a good all-around platform for advanced traders with decent fees, while the standard solution has a simple and user-friendly interface for new traders. Unfortunately though, costs on Coinbase are quite expensive in general.
Overall, when comparing alternatives to Coinbase, Binance is one of the best options. It is cheaper to trade with and offers a wider range of platforms and over 600 coins. It also provides one of the best mobile app alternatives to Coinbase.
FAQs
What Is A Similar And Better Alternative To Coinbase?
Out of Binance, Kraken, BitMEX, Crypto.com, and Gemini, Binance offers the most similar service to Coinbase. It has competitive products such as a crypto wallet and fiat currencies. Its trading platforms also suit both new and advanced traders while offering services that Coinbase doesn’t, such as P2P and margin trading.
What Are Cheaper Alternatives To Coinbase?
Coinbase’s original trading platform has the highest and most complicated fees of all alternatives mentioned in our review. However, when comparing Coinbase Pro, the brand provides similar and competitive rates. As BitMEX only exchanges cryptocurrencies via contracts, it has the cheapest fees amongst all alternatives mentioned, with a range of 0.01% to 0.075%.
Is Coinbase Legal In The UK?
Yes – Coinbase does operate legally in the UK. It is also available in Australia, Canada, Singapore, the United States, and a number of European countries based on regulation. With that said, the UK’s Financial Conduct Authority (FCA) banned the sale of crypto derivatives in 2021 because of the risk to retail consumers. Coinbase is only regulated in 45 states in the US.
How Do I Buy And Sell On Coinbase Without Fees?
While it is not widely popular and known, it is possible to buy Bitcoin without fees on Coinbase Pro. This can be done as a maker or taker. To find out how, head to the official website.
Does Coinbase Sell Instantly Vs. Alternatives?
Whether you can sell instantly will depend on which region you are from. It typically takes one to two business days to complete for US customers after initiating a sell or withdrawal. However, buying and selling occur instantly for the UK and European customers as the local currency is stored within your Coinbase account. Coinbase is, therefore, in line with many alternatives.