Best 7 Binance Alternatives : Is Binance Going Down?

Amidst the latest regulatory suppression that Binance is facing worldwide, you might be looking for platforms that provide the same assortment of services that Binance does. Therefore, we bring you the 5 best Binance alternatives, which can cater to all your needs without compromising on other things.

Summary Kucoin Bittrex Global Coinbase Huobi Global Bybit PrimeXBT Why should you look for Binance alternatives?

Binance is under fire globally for not complying with regulations resulting in the banning or suspension of its activities in the UK, Japan, Germany, the US, and Malaysia, among the few. In addition, many countries allege that the platform was involved in money laundering and distributing tokens illegally.

Binance Leveraged Token Limitations, What’s the alternative now?

If the ban or suspension of its activities continues, it could mean trouble for the people holding assets on the platform. Therefore users must withdraw their investments and hold in on another platform that equates to the world’s largest bitcoin exchange or crypto exchange. So now the question is which platform can provide almost all the services Binance does.

Best Binance Alternatives

KuCoin, Bybit, or Coinbase can be the best alternatives to Binance. Furthermore, if you are in a region where Binance has taken a hit from the regulatory authorities, you might want to quickly and carefully plan your next steps. It starts with moving your assets to a safer alternative to Binance.

Let us discuss the features of the 5 platforms you could turn to in the meanwhile.

1. Cheapest Binance Alternative: Kucoin

Kucoin exchange provides numerous services to its users. It is a well-known platform with a mobile application and good customer support. Furthermore, to understand the platforms working better, read the KuCoin review.

Visit KuCoin KuCoin Features

• The interface design of both the web exchange and the mobile application seems intuitive. 
• You can buy crypto via various methods on the exchange.
  • Credit/ Debit card- Supports multiple currencies along with payment methods and channels.
  • P2P- Fiat/crypto trade with zero transaction fees. It is easy and secure.
  • Fast Buy- allows you to buy BTC/ ETH/ USDT/ PAX with a relatively low fee rate and multiple secure payment options.

KuCoin Products

The following products are integrated with the exchange.

• Spot Trade
• KuCoin Margin Trading
• Contract or Futures
• Pool-X
• KuCoin Lending
• KuCoin Staking

Also, read 9 Best Crypto Lending Platforms.

With the help of these products, you can trade, stake, earn, borrow and swap cryptocurrencies. 

• More additions to the platform functionalities include an inbuilt KuCoin crypto trading bot. Furthermore, the KuCoin trading bot comes under the five best GRID bots in the market.
• Further, the platform also has a native Kucoin token called KCS.
• Moreover, it has provisions for enabling Two-Factor Authentication (2FA) and setting a trading password required while making a trade.

Visit KuCoin KuCoin Fee Structure

There are different fees applicable for various purposes and the fee schedule the spot market is as below:

Fee Schedule: Spot

To learn more, read KuCoin fees.

KuCoin: Pros and Cons 2. Best Binance Alternative: Coinbase

Coinbase is a popular platform that aims to give accessibility to users across the globe. It was founded in 2012 and has expanded globally since. Furthermore, the platform offers one of the best crypto wallets in the market. To learn more, read the Coinbase review.

Visit Coinbase Coinbase Features

Its interface (web or mobile) is pretty easy to use. It has quite an intuitive web design with minimum elements, which are helpful. Coinbase Pro is an advanced trading platform for professional traders.

Coinbase Products

• For Individuals
  • Buy, sell and use crypto
  • Coinbase Wallet
  • Coinbase Earn- Learn and earn crypto 
  • Private Clients
  • Coinbase Card
  • Coinbase Pro- for advance trading

• For Businesses
  • Coinbase Prime– brokerage platform for institutions
  • Coinbase Commerce– to accept crypto as payments
  • Asset Hub– List asset and grow an audience
  • Coinbase Custody– offline storage
  • Analytics– Powering crypto compliance to real world
  • Coinbase Ventures– investments for startups

Security Measures

1. It has security provisions to keep the crypto safe. ~98% of the funds are stored offline. Also, the data is stored in an encrypted and distributed manner.
2. Additionally, it provides 2-step verification on all accounts.
3. Furthermore, it uses SSL encryption for websites and AES-256 bits encryption for storing private keys on wallets.
   • There is a dedicated funds pool for US and non-US users as insurance in case of a breach or an attack.
   • Deposit and Withdrawal on Coinbase is variable across various countries. You can find this information on their website.

Visit Coinbase Coinbase Fees

1. Wallet service is free of charge.
2. Furthermore, the platform incurs transaction fees depending on the network fees.
3. Coinbase Card has a 2.49% transaction fee on transactions made in a currency other than USDC.
4. The payable fees include consumer exchange rate + spread. Additionally, Coinbase also charges fees to transfer to or from bank accounts.
5. Further, it charges 0.50% for cryptocurrency purchases and sales, which can be variable due to market fluctuations. 
6. For borrowers, if the collateral is to be sold off, Coinbase will charge a flat fee of 2% of the total transaction.
7. Moreover, it charges a spread margin of 2% for crypto conversions.
8. Coinbase Staking services incur a 25% commission.

Coinbase Fee for US customers Coinbase Pros and Cons 3. Binance Alternative: PrimeXBT What is PrimeXBT?

PrimeXBT is an online trading platform launched in 2018 that enables users to trade various financial assets such as cryptocurrencies, forex, commodities, and stock indices. It offers advanced trading tools and features suitable for both novice and experienced traders.

Is PrimeXBT safe or legit to use?

PrimeXBT employs robust security measures to ensure the safety of user data and funds, including encryption, two-factor authentication (2FA), and partnerships with reputable security firms. While it is not regulated by major financial authorities, its security protocols are designed to protect against cyber threats, making it a safe platform for trading.

PrimeXBT App

PrimeXBT offers a mobile app available on both Android and iOS platforms, providing a user-friendly interface and advanced trading features. This app allows users to trade on the go, with functionalities like biometric authentication and real-time market updates.

PrimeXBT is a comprehensive trading platform designed to provide a wide range of financial trading options, from cryptocurrencies and forex to commodities and stock indices. Established in 2018, it has quickly grown to serve over 1 million users across 150 countries.

Try PrimeXBT

Key Features:

• Multiple Markets Access: Trade a variety of assets from a single account.
• Advanced Trading Tools: Charts, market analysis, and trading signals.
• Innovation in Technology: Regular updates to provide the latest trading tools.
• Empowerment and Control: Users manage their portfolios easily from anywhere.
• Transparency and Trust: Clear communication and straightforward operations.

Main Products:

1. CFD Trading: Speculate on price movements of assets without owning them.
2. Forex Trading: Buy and sell currency pairs.
3. Cryptocurrency Transactions: Buy, sell, and trade cryptocurrencies.
4. Futures Trading: Trade futures contracts for cryptocurrencies.
5. Copy Trading: Follow and replicate trades of experienced traders.

Fees:

PrimeXBT offers competitive trading fees, with maker fees as low as 0.01% and taker fees at 0.02% for crypto futures trading. Zero commissions are offered for trading commodities, forex, and indices, making it cost-effective.

PrimeXBT: Pros and Cons 4. Binance Alternative: 7b Broker

7b Broker is a platform that makes crypto trading simple and available in the pocket. It is a new crypto broker powered by Binance and allows not only buying and selling cryptocurrency but also viewing current rates, tracking price ranges, managing user portfolio, and withdrawing crypto up to 2 BTC per day without KYC.

7b Features

• User-friendly interface suitable for both novice and experienced traders
• 400+ cryptocurrencies available for trading in one app
• No KYC required for trading and withdrawing
• 24/7 support team 
• In-app fiat to crypto exchanges

7b Security

7b Broker provides users with an arsenal of instruments to protect their funds:

• 2FA system 
• Pin-lock 
• Email verification for every withdrawal

In addition, the deals are conducted by Binance, which makes them not only secure but also lightning-fast.

7b Fees

In 7b there is one of the lowest trading fee rates available on the market – just 0,1%. The deposits are free and the withdrawal fees depend on the coin you want to withdraw (you will see the amount of fee you are going to pay before confirming the transaction).

5. Binance Alternative: Bittrex

Founded in 2014, Bittrex trading platform is headquartered near the financial center of Zurich, in the Principality of Liechtenstein. Furthermore, the platform offers various products such as leveraged tokens, mobile app, the latest crypto news, etc. You can also read the Binance vs Bittrex article to differentiate the platforms better.

Visit Bittrex Bittrex Global Bittrex Features

• The platform has a simplistic design that is easy to understand and not overwhelming.
• Bittrex Global has provisions for 2FA and requires a KYC verification before starting any activity.
• Further Fiat (euro) trading, deposits, and withdrawals are supported.
• Fiat currencies can be deposited in 3 ways:
  • SEPA Credit Transfer.
  • International Wire Transfer.
  • Credit/ debit card.
• Moreover, it supports Crypto Trading, Fiat Trading, and Tokenized Stocks (derivatives that represent traditional securities). It also supports API trading. 
• Certain coins can require a deposit of a minimum amount.

Visit Bittrex Bittrex Fees

There are no fees for deposits. Bittrex Withdrawal fees is again network fee dependent. To learn more, read Bittrex fees.

Bittrex Trading Fee Schedule Bittrex Pros and Cons 6. Biggest Binance Alternative: Huobi Global

Huobi crypto exchange platform has been operating since 2013. There are three exchanges present to cater to specific users, i.e., Huobi Global for users around the globe, Huobi Korean, and Huobi Japan. Furthermore, you can learn more from the Huobi review.

Visit Huobi Huobi Global Huobi Features

• It has a good, user-friendly interface and is available on both iOS and Android.
• Furthermore, 98% of the funds are stored in the multi-signature cold wallet. It has a distributed architecture and an anti-DDOS attack system.
• Huobi has a separate fund for compensating users in case of an attack.
• Its native token is HT which is ERC compliant.
• In addition, the platform supports different payment methods across the globe. You can buy/sell via quick buy/ sell or peer to peer Market. Local currencies are supported for buying crypto online.

Huobi Global Products

1. Huobi Spot Trading
2. Huobi Margin trading
3. Derivatives- Futures, Coin-margined swap, USDT margined swap.
4. Finance- Staking, Primepool (lock assets to get airdrops of new tokens), Huobi Earn, ETH 2.0, Crypto Loans, etc.
5. Huobi trading bot
6. Moreover, the platform also provides information on cryptocurrency under Learn tab for crypto enthusiasts.

Visit Huobi Huobi Fee Structure 

Apart from the above structure, Huobi provides VIP benefits for the users based on their trading volumes in each of the above categories.

Huobi Fees Huobi Pros and Cons 7. Binance Alternative for Futures Trading: Bybit

Bybit is one of the newer exchanges to make its mark in the crypto world. It was established in 2018 by professionals from the banking and exchanges industries. However, it is the most popular crypto exchange for leverage and futures trading. Margin trading at Bybit comes with various perks such as up to 100x leverage, one of the lowest interest rates in the market, etc.

Features

• The platform has an excellent and intuitive interface and is available across mobile platforms as well.
• In addtion, Bybit has provisions for 2FA and stores 100% of deposited assets on cold storage with multi-signature features as a security measure.
• Bybit supports USDT.
• KYC is not mandatory, although getting verified increases your withdrawal limits.
• Furthermore, you can buy crypto online (BTC, ETH, USDT) via various Fiat currencies supported. The payment is made via 3rd party service providers.KYC is a requirement for this process.
• You can deposit BTC, USDT, ETH, EOS, XRP to your bybit account.

Visit Bybit Bybit Products

1. Spot Trading
2. Derivatives: Inverse Perpetual (Perpetual contract using a coin as collateral), USDT Perpetual (using USDT as collateral), Inverse(Futures contract using coin itself as collateral)
3. API support.

Bybit Fees

For every executed order, there is a trading fee that is incurred. In addition, there also exists a withdrawal fee that varies w.r.t the coin.

• Bybit Withdrawal Fees

Bybit Withdrawal Fees

• Derivatives Trading Fees

Bybit Derivatives Trading Fees Bybit Pros and Cons

If you’re a trader from the US and cannot access Bybit, then try using Hola VPN. Then, read the complete guide on how to use Bybit in the USA for a detailed step-by-step process.

Binance Alternative: Conclusion

The crypto market is vast and mainly not as regulated as the traditional market. Until this gap between Regulation Authorities and Exchanges is bridged, one must always have a contingency plan or look for Binance alternatives.

Here, in the case of Binance, try to gauge the situation in your region and act accordingly. Of course, if you feel the regulatory authorities are about to ban users from accessing Binance, you can always use Hola VPN. However, if you wish to shift to a different platform itself, you can select from one of the exchanges mentioned below.

Kucoin Bittrex Global Coinbase Huobi Global Bybit PrimeXBT

Moreover, you can alternatively store your funds in hardware wallets. Some of these wallets even let you earn staking rewards. For example, you can use the Ledger Live app to earn a passive crypto income on your assets. But, of course, it is also better to understand your priorities before choosing another platform. 

Frequently Asked Questions What is crypto security?

Crypto security is the security provided by the platform for the transactions and storage of private keys onto the wallet. It generally imbibes 2FA and encryption techniques to fend off hackers.

How to use Bybit in the USA?

Binance has strict regulatory regulations on crypto trading. Hence, you cannot use Binance or Bybit in the USA. However, there exists a thing called VPN, which can help you change your digital location to a country that supports Bybit.

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