Coinbase has emerged as one of the most popular cryptocurrency exchanges for buying, selling and trading digital currencies like Bitcoin, Ethereum and others. With its easy-to-use interface, high liquidity and presence across platforms, Coinbase makes it simple for mainstream users to gain exposure to the cryptocurrency markets.
However, Coinbase isn‘t necessarily the best option for all crypto traders and investors. High fees, limited coin selection and occasional service outages are some of Coinbase‘s drawbacks. Fortunately, many other excellent alternatives exist that can enable you to buy, sell and trade cryptocurrencies based on your specific needs.
This guide provides a detailed comparison of the top 11 Coinbase alternatives for you to consider in 2023.
Overview of Coinbase
Let‘s briefly recap some key features of Coinbase that have made it one of the most popular centralized cryptocurrency exchanges:
- Easy to use interface – Coinbase‘s interface is intuitive and easy to navigate making it ideal for beginners.
- High liquidity – As a top exchange, Coinbase has high trading volumes and liquidity for major coins like Bitcoin and Ethereum. This enables fast trades and minimal slippage.
- Regulatory compliance – Coinbase complies with applicable regulations in the jurisdictions it operates in. This provides a sense of security to users.
- Diverse products – In addition to its basic trading platform, Coinbase also offers products like staking, earning interest on holdings, crypto loans etc.
- Strong security – Coinbase uses industry-leading security technologies like cold storage and encryptions to keep funds safe.
- Insurance protection – Coinbase also maintains insurance coverage to protect user funds from loss in case of breach.
- Multiple platforms – Available across Web, Android and iOS.
Some potential downsides of using Coinbase include:
- High fees – Coinbase‘s trading fee is 0.50% per transaction which is higher compared to other major exchanges.
- Limited coin selection – Only about 90 coins are available whereas other platforms support many more cryptocurrencies.
- Service disruptions – Technical issues and outages are not uncommon during periods of market volatility.
So in case you are facing any limitations with Coinbase or simply want to explore other platforms, here are the top alternatives worth considering.
Factors to Consider in a Coinbase Alternative
When exploring alternatives, keep the following factors in mind to ascertain if a platform suits your cryptocurrency trading needs:
Fees – This includes the maker, taker and withdrawal fees charged. Always compare fee structures before deciding.
Supported Currencies – Check that your desired currencies including major ones like Bitcoin, Ethereum etc. are supported.
Payment Methods – The platform should support convenient payments channels like bank transfer, credit/debit cards, PayPal etc.
Security Features – Robust security features like 2FA, offline storage and encryption are must-haves.
Insurance Coverage – Asset insurance protects your funds in case of theft or hacks. Not all platforms provide this.
Ease of Use – Look for an intuitive interface with robust guides, email/chat support to enhance usability.
Regulatory Compliance – A platform that adheres to applicable regulations provides an added layer of security.
Mobile Apps – Having iOS and Android apps allows you to conveniently trade on-the-go.
With these factors in mind, let‘s discuss some of the best Coinbase alternatives available.
1. Pionex
Pionex is a rapidly emerging exchange that provides cryptocurrency trading bots for free. This eliminates the need for manual trading and makes cryptocurrency trading easy even for beginners.
Some key features:
- 12 free trading bots – Automates trades 24/7 using trading bots like Grid Bot. Requires no coding knowledge.
- Lowest fee of 0.05% – Compared to Coinbase‘s 0.50% fee, trading costs are significantly lower with Pionex.
- No withdrawal fees – Withdrawing crypto from Pionex wallet to external wallets is absolutely free.
- Supports 100+ coins – Supports a long list of over 100 cryptocurrencies including Bitcoin, Ethereum, Dogecoin.
- High liquidity – Pionex is connected to top exchanges like Binance providing high liquidity.
- Mobile apps – Easy to use Android and iOS apps available.
With its trading bots, low fees and wide coin support, Pionex stands as a top Coinbase alternative in 2023 for automating your crypto trades.
2. Binance
As the top crypto exchange by trading volume, Binance provides an extensive set of features to actively trade and manage a crypto portfolio.
Key highlights include:
- Low 0.10% spot trading fee – More competitive than Coinbase‘s 0.50% fee.
- 700+ cryptocurrencies – Far wider selection than 90 coins on Coinbase. New projects are quickly listed on Binance.
- P2P trading – Enables buying/selling crypto directly from other users via P2P marketplace.
- Margin trading – Trade digital assets with leverage up to 5x.
- Futures and Options – For advanced traders, futures and options contracts are also available.
- BINANCE Visa Card – Spend your crypto balances directly using this card across 100+ million merchants.
With the above features, low fees and unparalleled coin selection, Binance stands out as a leading Coinbase alternative.
3. Crypto.com
Crypto.com aims to accelerate the world‘s transition to cryptocurrency. Its extensive product suite includes a multipurpose exchange supporting both crypto and fiat currencies.
Key aspects that make it a strong alternative:
- Competitive trading fees – Maker fee is 0% and taker fee is only 0.10 to 0.16% based on volume.
- 300+ coins listed – Wide range of both major and smaller cap coins available to trade.
- Staking rewards – Attractive staking yields up to 14% on supported coins for holding long term.
- Crypto Earn – Earn up to 14% interest on assets lent to verified institutions. More than 40 coins supported.
- VISA debit card – Top up this card to spend crypto worldwide. Comes with attractive cashback rewards.
With features tailored both for retail and institutional clients, Crypto.com exchange is a full-fledged Coinbase alternative.
4. Kraken
Kraken is one of the largest and oldest Bitcoin exchanges in the market. It supports an extensive range of crypto trading pairs and fiat currencies.
Salient aspects of their platform:
- Low fees – Kraken has a maker fee of 0 to 0.16% and taker fee of 0.14% to 0.26%. Fees reduce based on volume.
- High liquidity – Consistently figures among exchanges with highest Bitcoin trading volumes.
- Margin trading – Trade digital assets with up to 5x leverage.
- Regulatory compliance – Kraken operates legally in many regions by following regulations. Gives users peace of mind.
- Fiat support – Deposit and withdraw dollars, euros and other government currencies.
A longtime player with competitive fees and an assortment of trading options, Kraken is worth considering over Coinbase.
5. KuCoin
KuCoin bills itself as a People‘s Exchange due to its easy-to-use platform. Let‘s look at some of its benefits:
- Many altcoins – One of the best places to buy small cap coins before they gain mainstream adoption.
- Low trading fees – All crypto-to-crypto trades have a flat 0.10% fee which is very competitive.
- Fast transactions – Withdrawals are processed fairly quickly compared to other exchanges.
- Staking – KuCoin supports staking many coins at attractive APY Yields of up to 45%.
- P2P Fiat Trading – Allows crypto purchases directly from other users via P2P marketplace.
With low fees, access to emerging tokens and quick transfers, KuCoin is ideal for traders looking beyond what Coinbase offers.
6. Gemini
Founded by the Winklevoss twins, Gemini is a regulated cryptocurrency exchange catering to both individual and institutional investors.
Some notable aspects:
- Industry-leading security – Gemini uses robust encryption, hardware security modules and offline cold storage facilities to safeguard crypto assets.
- Insurance coverage – User crypto holdings are insured providing an extra layer of protection against theft or breach.
- Low fees – Advanced ActiveTrader interface has maker/taker fees as low as 0.25%/0.35%.
- Compliant platform – Gemini operates under applicable laws and regulations building user trust.
- Mobile apps – Streamlined mobile apps available on Android and iOS.
For those seeking a compliant, regulated platform with security focused features, Gemini warrants a look as a Coinbase alternative.
7. eToro
eToro makes it easy for beginners to access the crypto markets. Let‘s see some useful aspects:
- Social and copy trading – Learn from experienced traders or automatically copy their trades. Great for beginners.
- Fiat support – Deposit and withdraw real-world currencies like USD and EUR.
- Wallet insurance – eToro insures crypto held in online hot wallets adding a layer of security.
- Limited selection – Only about 25 major coins are supported but the experience is simplified for first-timers.
- No crypto withdrawals – Cannot withdraw bought crypto as real coins. Cryptos are mainly held as CFDs on eToro platform.
For investors aiming to dip their toes into crypto, eToro with its social elements provides a smoothly accessible experience.
8. Phemex
Phemex is a relatively newer exchange offering a fast-trade crypto experience with both basic and advanced platforms.
Some of its benefits:
- Zero trading fees – Requires a Premium membership. Otherwise 0.075% taker and maker fees.
- Fast trades – Capable of processing high volumes with ultra low latency.
- Wide support – Spot, margins, futures trading, staking and savings accounts across 40+ coins and pairs.
- Security focused – Features cold wallet storage, 2FA, IP whitelisting and other measures.
For high-volume traders, Phemex offers a lightning fast platform with advanced order types and zero fees.
9. Bitfinex
Catering mainly to professional crypto traders, Bitfinex is a full-featured trading platform supporting many advanced order types.
Salient aspects:
- Advanced trading options – In addition to basic spot trades, Bitfinex provides margin funding, margin trading up to 3.3x leverage and derivatives.
- Security audits – Platform security is routinely audited by third party firms to ensure fund safety.
- Several stablecoins – Multiple stablecoins like USDT, USDC, Tether Gold and others are supported.
- OTC trades – Large volume trades can be executed directly via their OTC platform. Minimum transaction size is $100,000.
- Mobile apps – iOS and Android apps available to track positions and orders on-the-go.
With robust tools for professional traders, Bitfinex is a great fit for the advanced cryptocurrency investor.
10. Bittrex
Bittrex aims to provide lightning fast trades with top-grade security. Here are some notable features:
- Industry-leading security – Bittrex employs robust measures like two-factor authentication, multi-stage wallet strategy and more to keep funds ultra-secure.
- High speed matching – Cutting-edge trading engine can execute orders in microseconds providing ultra-fast trades.
- Fiat support – Allows buying and selling coins directly with fiat currencies like USD and EUR through bank transfers.
- Many coins listed – Provides access to over 350 coins along with stablecoins like USDC. New assets are quickly made available.
For traders seeking blazing fast performance, tight security and extensive coin selection, Bittrex hits the mark as a complete Coinbase alternative.
11. LocalCryptos
Formerly LocalEthereum, LocalCryptos operates as a peer-to-peer crypto marketplace. Some key points:
- Peer-to-peer model – Buy and sell crypto directly from a large pool of trusted users from around the world.
- Non-custodial – LocalCryptos never holds user assets. Trades occur directly between parties providing enhanced security.
- Over 350 payment methods – From bank transfers to gift cards and online wallets, numerous payment options available to fit individual needs.
- Flexible trading – Buy or sell crypto at fixed price or agree on custom terms that work for both parties.
For those seeking to trade crypto in a decentralized manner without handing custody to a third party, LocalCryptos is worth exploring.
Key Takeaways – Choosing the Best Coinbase Alternative
- Consider factors like fees, coin selection, security features and payment support offered by the platform.
- Exchanges like Pionex, Binance and Kraken provide lower fees compared to Coinbase.
- Crypto.com, KuCoin and Phemex give access to hundreds of altcoins.
- Gemini and Bittrex offer industry-leading security measures like insurance protection and offline cold storage.
- Beginner friendly platforms like eToro and LocalCryptos offer innovative models like social trading and P2P trading.
- Leading platforms have mobile apps, enable fiat currency usage and provide 24/7 customer support.
- Try exchanges accepting your preferred payment method – card, bank transfer, PayPal etc.
- Certain platforms cater better to specific needs – e.g Bitfinex for pro traders, Gemini for a regulated experience etc.
- Consider trying multiple exchanges to see which suits your trading style before completely migrating away from Coinbase.
Explore the World Beyond Coinbase
While Coinbase has its merits, it still pays to evaluate some alternatives to determine if they are better aligned with your goals as a cryptocurrency trader or investor.
Platforms like Pionex, Binance and Kraken discussed here offer lower trading fees. Crypto.com and Phemex give access to hundreds of coins. For non-technical beginners, eToro‘s social trading approach lowers the skill barrier.
The decentralized P2P model of LocalCryptos provides an interesting alternative too.
Instead of limiting yourself to just one exchange, spread your crypto holdings across 2-3 exchanges to minimize risk and take advantage of the unique benefits offered by each platform.
Moreover, be sure to implement security best practices across the platforms you use – enabling two-factor authentication, having strong unique passwords, practicing safe account funding and withdrawals etc.
By diversifying beyond Coinbase, you can benefit from lower fees, expanded coin offerings, innovative models and ultimately arrive at a combination of exchanges tailored to meet your specific crypto trading and investing needs in the most cost-effective manner.
