5 Best Coinbase Competitors

Coinbase is one of the go-to platforms for beginners as well as professional traders. However, the platform charges very high fees for trading crypto. Therefore, in this article, we will be discussing all the best Coinbase competitors.

What is Coinbase?

Coinbase is a crypto exchange that users can use to purchase, exchange, trade, and store crypto assets. Also, it safely stores a wide variety of users’ digital assets that it supports. Coinbase’s main objective is to offer a fair, affordable, and easy-to-use cryptocurrency exchange platform to people all around the world. They have one of the most user-friendly interfaces and the most remarkable customer service.

VISIT COINBASE Coinbase

Moreover, Coinbase is also available for United States Citizens and is excellent for beginners and advanced traders. Some of the features of Coinbase includes: 

Features of Coinbase

There are several features/ advantages of trading on exchanges like Coinbase. Let us see some of its benefits:

• It is one of the top-rated crypto exchange platforms.
• Coinbase offers its services in the United States.
• Further, users can earn free crypto in exchange for learning about the different digital currencies.
• Additionally, it offers various products like Coinbase Wallet, Coinbase Pro, Coinbase commerce, and others.
• It also provides a Coinbase debit card that may be used to spend bitcoin or ther cryptos wherever Visa is acceptable.

Despite all these advantages, there are certain drawbacks, due to which people look for alternatives for Coinbase. For example, Coinbase charges one of the highest trading fees and does not provide any leverage for trading. Therefore, there are better alternatives to Coinbase, which people use for earning a profitable return. In this article, we are going to learn about the top 5 competitors of Coinbase in detail:

1st Coinbase Competitors: Kraken What is Kraken?

Kraken is one of the best crypto trading platforms. It was established in July 2011 and is headquartered in San Francisco, California. Further, it is among the most important and oldest marketplaces, and Jesse Powell is the organization’s founder.

Kraken allows users to convert fiat currencies into bitcoin, which includes US, Canadian, euro, and pound sterling. In addition, you may also trade one cryptocurrency for another. Kraken offers nearly 50 cryptocurrencies to purchase or exchange in fiat cash and is considered cheaper than Coinbase. 

Moreover, the Kraken platform has recently accepted two additional cryptocurrencies: Energy Web Token (EWT) (EWT) and Ocean Protocol (OCEAN). Unfortunately, this should be highlighted that citizens of the United States and Canada are still unable to exchange EWT.

VISIT KRAKEN Coinbase Competitors; Kraken Features of Kraken

There are several features of Kraken that are different from the other types of cryptocurrencies. Therefore, let us see some of them:

• Kraken offers several options for financing your wallet with fiat currency. It involves the advantage of firms that offer money transfer services which is a lot like Plaid. Every account has different minimum standards, maximum values, and charges for financing.
• You may also buy cryptocurrency with a credit card, although this is the most expensive approach. There is a charge of 3.75% plus $0.25. You must complete KYC certification before you may utilize fiat cash. For the first 72 hours after opening an account, you will be unable to withdraw funds.
• Staking has been one of Kraken’s highlights and it allows you to receive incentives on the cryptocurrencies in your wallets. All the rewards earned by the user are distributed biweekly. Moreover, the amount an investor receives and the particular incentives differ depending on the currency.
• Pending orders and balances may be found on the account page. You may also place transactions here, such as marketplace, and restrict orders. This section covers the simple web-based layout and also Kraken Pro, which we’ll go over momentarily. This makes it a Coinbase competitor and a better and cheaper alternative.
• Kraken Pro is a more refined version of the standard web-based trading platform. It works similarly to Coinbase Pro. Statistics, trade depth, pending orders and balances, and the capacity to execute trades are all available.

Kraken Features Pros and Cons of Kraken 2nd Coinbase Competitors: Bittrex          What is Bittrex?

Bittrex is among the earliest cryptocurrency trading platforms, having launched in 2014 and since then enabling investors and traders in satisfying their thirst for trading a wide range of pairings and currencies.

Bittrex’s primary business has been its spot trading system, which permits traders to exchange in three distinct crypto-based marketplaces as well as a Dollar market provided their application for Dollar payout and transfer capabilities has been approved.

Buying and selling on Bittrex are only possible after a customer completes the one-tier identity verification, which involves providing a photograph of an identification card as well as giving basic details. It is similar to Coinbase in many ways. 

VISIT BITTREX Coinbase Competitors: Bittrex Features of Bittrex

There are several features of Bittrex that make it similar to Coinbase and a good alternative. Therefore, let us look at some of the features of Bittrex:

• Bittrex is capable of executing initiatives well and consistently. It does not provide many functions, sadly. 
• The commodity selection is extensive, which is unexpected given that the trading allegedly works under US rules. Therefore, if you are looking for sites similar to Coinbase, you should check out Bittrex. 
• There is a large range of assets to trade.
• Further, there are almost no advanced features, no leverage trades or promotional items, and no loan network.
• Bittrex has previously performed IEOs, but no reference of it appears to be published on its website, even with prior sites being erased. Nevertheless, the trade did acknowledge that they had been developing a smartphone application.

Pros and Cons of Bittrex

Also, read Binance vs Bittrex | Which is the Best Exchange for You?

3rd Coinbase Competitors: Binance What is Binance?

Binance is regarded as a cryptocurrency trading platform with some of the best prices available. It is arguably one of the most effective platforms to trade cryptocurrencies if you’re a novice or an experienced trader. In addition, it is cheaper than Coinbase, with several additional features. 

The site is open to individuals from everywhere in the world and has garnered positive feedback from the cryptocurrency community. Recently, it collaborated with third-party service businesses like Simplex to facilitate premium cryptocurrency purchases by direct debit and credit cards.  

Binance is a cryptocurrency exchange located in Hong Kong and was founded in July 2017 by programmer Changpeng Zhao (aka CZ). After a spectacular $15 million ICO, Zhao’s firm, Beijie Technology, founded the platform. It is also regarded as one of the best alternatives to Coinbase. 

VISIT BINANCE Coinbase Competitors: Binance Features of Binance Exchange

• Binance offers a peer-to-peer (P2P) exchange service that allows participants to communicate directly. This enables fiat payments by providing a wide range of payment alternatives depending on the interest of the traders. And is considered faster than Coinbase.
• Binance has just collaborated with Simplex to provide a brokerage service that accepts contactless payments. With this platform, you may purchase 31 different cryptos using a credit line. This service, however, comprises a charge that can reach 3.5 percent for Dollar transactions.
• Moreover, Binance now allows its users to purchase cryptocurrencies instantly with money via SEPA and bank payments, owing to connections with more third-party service suppliers. This method is particularly appealing because SEPA and wire deposits have no transaction fees.
• Last but not least, Brave, the privacy-focused internet explorer, added a Binance Widget for in-browser crypto exchanges. Users can also use the widget to purchase and sell cryptocurrency on Binance. Hence, providing better competition to companies like Coinbase. 
• Further, it offers 24/7 customer support and is entirely secure.
• Binance Derivatives offers different options to trade including Coin Futures, Leveraged tokens, and others.
• Besides Binance Derivatives, it offers other products, including Binance Earn, Binance Pool, Binance Visa Card, and others.      

Features of Binance Exchange Pros and Cons of Binance 4th Coinbase Competitors: KuCoin What is Kucoin?

KuCoin has established itself as a famous one-stop destination for all types of crypto activities, making it a well-established name in the cryptocurrency market. Moreover, since its launch in August 2017, the platform has expanded to include over 200 currencies and over 400 commodities. Thus, making it the most vibrant cryptocurrency centre online, and is very similar to Coinbase. It provides high-security systems, slick functionality, and a user-friendly UX. 

VISIT KUCOIN Coinbase Competitors: Kucoin Features of KuCoin

Let us see some of the features of KuCoin that make it better than Coinbase:

• 200+ coins are available for purchase and sale with minimal costs all around the world. 
• KuCoin, being the most popular cryptocurrency exchange, accepts a wide range of digital currencies.
• It charges a 0.1 percent spot trading fee, which decreases based on the user’s 30-day trading volume.
• Top fiat currencies, including U.s. dollars, Euro, Yuan, British pounds, CAD, AUD, and others, are available to purchase cryptocurrency. And this is one of the reasons it is considered a better competitor to Coinbase.
• KuCoin allows customers to purchase cryptos utilizing fiat through its P2P fiat trading, digital wallet via Simplex, Banxa, PayMIR, or its Fast Buy service. Additionally, it allows customers to buy BTC or Tether (USDT) by utilizing CNY, VND, or IDR. 
• Outstanding customer service assistance is available 24 hours a week via its internet, mail, and ticketing system.
• Asset security at the bank level. KuCoin employs a variety of security features, including micro-withdrawal vaults, industry-standard multi-layer protection, and adaptive authentication systems. 
• Also, specialized internal risk management departments supervise day-to-day data activities in accordance with stringent security requirements. Therefore, if you are looking for Coinbase-like sites, then you should definitely try KuCoin. 

Pros and Cons of KuCoin  5th Coinbase Competitors: Huobi What is Huobi?

Huobi is among the most outstanding trading platforms available, managing to strike the difficult balance of providing the features that professional traders require while staying understandable to newcomers. The platform is compatible with Windows, Macbook, iOS, and Android versions.

The ‘Smartchain’ analytics and research service is an extremely useful significant component of the trading system. It offers insight and information on various Blockchain assets, as well as over 50 distinct metrics. It is regarded as a Coinbase alternative and has better future aspects. 

VISIT HUOBI Huobi Features of Huobi

Some of the features of Huobi make it the go-to alternative for Coinbase. It is very beneficial and provides the trader with all the necessary requirements. Therefore, let us see some of the features of Huobi:

• It provides assistance in English and Chinese, and client service representatives may be contacted via phone. At one of the firm’s numerous national offices, by mail request, or through internet chat. 
• The trade is designed on a sophisticated decentralized network framework, and 98 percent of resources are stored in multi-signature temperature-controlled wallets that are inaccessible from the internet. This makes it faster than Coinbase and a great alternative. 
• Trading charges are relatively low and are payable at a fixed rate of 0.2 percent buyer and producer. 
• Depending on transaction volumes, it can be as minimal as 0.1 percent on a relative scale. The pricing structure of Huobi Pro is quite reasonable.
• The primary Huobi Pro-trade lists over 100 crypts and tokens.

Huobi Features Pros and Cons of Huobi Conclusion: Best Coinbase Competitors

In short, we can say that being one of the top cryptocurrency exchanges in the USA, Coinbase is a competitive platform for others. Coinbase charges a very high trading fee and lacks many basic features of an exchange such as leverage or crypto lending options. Therefore, the above-mentioned five exchanges are its biggest competitor, in terms of fees, products, and features. Hence, you can easily go with any of the exchanges above; however, if you’re from the united states you can go ahead with Kraken as it is regulated in the United States and provides almost all the features of Coinbase, apart from some additional features as well.

Frequently Asked Questions Is Kraken better than Coinbase?

Kraken fees are lower compared to that of Coinbase. However, Coinbase offers more products and is highly user-friendly. So, it totally depends on your requirements and choice.

Is Coinbase trustworthy?

Better Business Bureau has rated Coinbase with “F.” BBB considers several factors like licensing, customer complaints, and others while evaluating a company. Moreover, in July 2021, Coinbase ran into a lawsuit for breaching securities laws. 

Which platform offers a low exchange fee?

Many platforms, including Binance, Kraken, Bittrex, Kucoin, and others, offer lower fees than Coinbase.

Which crypto exchange is best for beginner traders?

The exchanges, which are easy to use, offer easy navigation, and are easily understood, are the best for beginner traders. Also, as mentioned in the above sections, Coinbase is among one of the most straightforward exchanges.

Also Read,

• Crypto.com vs Coinbase – Which one to Choose?
• Coinbase Joining the NFT World, Soon to Launch its NFT Platform
• How to transfer from Coinbase to Coinbase Pro in 2021?
• Coinbase Fees: Cheapest Exchange in the USA?
• Coinbase Staking – Earn staking rewards on your Crypto [2021]