This article will discuss the Coinbase alternatives to buy, sell, or trade crypto assets. We will compare them based on fees, and security, and other features.
Table of contents
- Coinbase Alternatives: Summary (TL;DR)
- What is Coinbase?
- Why should you look for an alternate exchange?
- Top 5 Coinbase Alternatives
- 1. Gemini
- 2. Robinhood
- 3. Kraken
- 4. Binance US
- 5. Crypto.com
- Coinbase Alternatives: Conclusion
- Frequently Asked Question
Coinbase Alternatives: Summary (TL;DR)
- Coinbase is one of the most popular legal crypto trading platforms in the USA.
- The exchange lags behind its competitors in many aspects such as fees, leverage trading, etc.
- The best five Coinbase alternatives are Gemini, Robinhood, Kraken, Binance US, and Crypto.com.
- Gemini is considered the most secure trading platform in the entire crypto industry. It offers Gemini Pay, Gemini Clearing, Gemini Earn, etc.
- Robinhood is famous for providing its investment services both in crypto and traditional stocks.
- Kraken can be considered the platform with the best illustrations and user interface. The exchange also offers leverage trading on crypto and futures.
- Binance US is a derivative of Binance legally functioning in the USA and providing all the basic features of Binance.
- Crypto.com is a trading platform with over 10M active users and products such as margin, derivatives, DeFi wallet, DeFi Swap, etc.
|S. No.||Exchange||Fees||Security||Mobile app||User interface||Overall|
What is Coinbase?
Coinbase is one of the most popular crypto exchange platforms providing its services to over 56M+ registered users and in over 100 countries. The exchange offers regulated crypto trading services in the USA and does not offer any leverage trading services.
Coinbase aims to provide a fair, efficient, and easily accessible crypto trading platform around the globe. They offer one of the most straightforward user interfaces and the best customer service in the crypto market. To learn more read our Coinbase review.
Why should you look for an alternate exchange?
Even though Coinbase is one of the significant exchanges functioning in the USA, it still has many drawbacks. The platform charges the highest fees in the crypto market and offers no leverage trading on crypto or futures market.
Top 5 Coinbase Alternatives
It is evident that we are looking for alternatives to Coinbase due to its drawbacks. Hence below are the five best Coinbase exchange alternatives:
Gemini is a product of an idea in the mind of the Winklevoss twins. It is a New York-based trading platform that offers its services through its various products. The exchange is proving to provide the best security services in the entire crypto trading industry.
Products by Gemini
Gemini offers a series of products to both individuals and financial institutions. Let’s look at the one at a time:
Gemini Active Trader
Gemini provides its traders with Gemini ActiveTrader to trade in crypto in microseconds. You can use various features on this platform such as Market or cancel, immediate or cancel, limit, or fill-or-kill to place and execute your orders.
Gemini offers the best security services in the crypto market and hence also provides crypto custodial services. You can then store your crypto assets in one of the most secure vaults in the industry. To learn more about Gemini custody, click here.
Gemini clearing is similar to P2P trading as it helps you buy or sell crypto assets from an individual. All your trades through Gemini clearing remain off the order book. Hence, Gemini only acts as a third party in this transaction.
With Gemini Earn, you are entitled to earn almost 7.4% APY on your crypto assets. All you have to do is sign up to Gemini Earn and deposit funds to start earning. You can withdraw the funds from the Gemini Earn anytime you wish to make a withdrawal.
Gemini has recently launched its informational platform called Cryptopedia. Cryptopedia is a free crypto educational platform and also provides professionals to share information about crypto.
The fee structure at Gemini depends on the product you are using. The deposit fees through wire transfers are free, and at the same time, through debit cards is 3.49%. If you are using Gemini ActiveTrader, then the fees is as per the below table, and you can look at other fee schedules from here:
|30-Day Trading Volume in (USD)||Taker Fee||Maker Fee||Auction Fee|
Gemini uses cold storage services that have FIPS 140-2 Level 3 or higher ratings. The exchange secures all your account activities and transactions through two-factor authentication. Also, not even the CEO and the President alone or together can illegally withdraw any funds from Gemini cold storage.
Gemini: Pros and Cons
|The exchange is available in all of the US states.||Higher fees than a couple of other competitors.|
|Gemini pay allows you to pay at more than 30,000 retail stores across the USA.||The exchange needs a lot of personal information.|
|Ou can gain an annual interest on your unused crypto-asset through Gemini Earn.|
You can gain a better understanding as to why you should prefer Gemini over Coinbase by reading our comparison article, Gemini vs. Coinbase.
Robinhood is an exclusive platform for US citizens, as you can only use the platform if you own an SSN. The platform didn’t support crypto trading until 2018. And, BTC and ETH were the only coins available to trade in its early day. As of now, Robinhood is one of the most popular exchanges in the USA.
Products by Robinhood
Robinhood offers its exclusive services in crypto as well as stocks through its various products. Here’s a brief take on the products offered by Robinhood:
Stocks and funds
Robinhood offers a commission-free investing service and many essential tools you should use to invest. The platform provides fractional shares, where you can invest in over a thousand stocks with as little as a dollar.
Robinhood allows trading in significant crypto assets such as BTC, DOGE, ETH, and many others. You can buy, sell and trade on crypto assets around the clock with no commissions from the exchange.
Selling options contracts mean selling the contracts to a buyer to collect premiums, and buying it means repurchasing them from a seller. Robinhood does not charge any commission fee on the options contract.
This options at Robinhood allow you to trade on margin with your gold investments, and hence you can supercharge your gold. You get to trade on a margin with a 2.5% annual rate, and all of it starting at just $5.
Robinhood provides you with a 0.30% APY on the uninvested funds in your account. You can use cash management in both your savings and checking accounts and also spend your cash anywhere you want.
Robinhood provides a platform with a commission-free trading platform. However, SROs such as FINRA charge you a small amount for sell orders. Since Robinhood is a regulated exchange, the fee charged through FINRA is intended to cover the costs incurred by the government of the USA. You can learn more about fees at Robinhood from here.
You get a Two-factor authentication at Robinhood to go through all the significant steps on the exchange. The platform also offers a cold storage vault for your assets and FDIC insurance for your assets on the exchange.
Robinhood: Pros and Cons
|Robinhood provides various options to invest, such as socks, crypto, gold, etc.||You can create an account only if you are a US citizen and own an SSN.|
|The exchange charges a nominal fee.||There are only 16 different types of crypto assets available to trade.|
|One of oldest legal investment platforms in the USA.|
You can gain a better understanding as to why you should prefer Robinhood over Coinbase by reading our comparison article, Robinhood vs. Coinbase.
Kraken is a crypto trading platform with the perfect illustrations which came into existence in the year 2011. It is a regulated exchange based in the USA and offers various products, including leverage trading.
Products by Kraken
Kraken offers a series of products to its users. Hence, let’s learn about them one by one:
Buy and Sell Crypto
Kraken offers crypto buying and selling in several popular crypto assets. However, you need to complete your verification process before you begin your trading journey at Kraken.
With the intuitive user interface of Kraken, margin trading becomes simpler. Hence Kraken offers a leverage of up to 5x on almost all of its listed crypto assets. Using Kraken margin trading, you can go long and short at the exchange.
Futures trading means buying or selling a contract at a predetermined date and time in the future at a fixed price. You can trade in futures at Kraken using the leverage of up to 50x on certain commodities.
However, before using futures trading, you’ll have to give a quiz on the platform and based on which the exchange will categorize you in one of the three following categories below:
- Retail trader
- Professional trader
- Larger undertaking
The fee at Kraken is as low as 0%; however, the platform charges a fee of 0.9% for stable coins and FX pairs. For a deeper understanding of the fee structure at Kraken, please visit the fee schedule of the platform. You can observe the maker and taker fee on Kraken Pro in the below table:
|30-Day Volume (USD)||Maker||Taker|
|$0 – $50,000||0.16%||0.26%|
|$50,001 – $100,000||0.14%||0.24%|
|$100,001 – $250,000||0.12%||0.22%|
|$250,001 – $500,000||0.10%||0.20%|
|$500,001 – $1,000,000||0.08%||0.18%|
|$1,000,001 – $2,500,000||0.06%||0.16%|
|$2,500,001 – $5,000,000||0.04%||0.14%|
|$5,000,001 – $10,000,000||0.02%||0.12%|
Kraken is one of the most trusted cryptocurrency exchanges on the market as they hold most of your digital assets in air gaped cold wallets. The cold storage facility is in 24×7 surveillance by cameras and guards. Kraken also runs a bug bounty program where you earn rewards by reporting significant bugs on the platform. To learn more about the bug bounty program, click here.
Kraken: Pros and Cons
|The exchange offers the best user interface in the entire crypto market.||The exchange has shown inadequate customer support in certain instances.|
|Kraken supports leverage trading with leverage of up to 5x on crypto and 50x on futures.|
|Kraken offers lower fees, higher security, and comparatively more crypto options when compared to its competitors.|
You can gain a better understanding as to why you should prefer Kraken over Coinbase by reading our comparison article, Kraken vs. Coinbase.
4. Binance US
The USA has strict crypto trading regulations working. Hence, being a resident of the states, you cannot use Binance. Therefore, Binance recently launched Binance US, a crypto exchange adhering to the trading laws in the USA. Binance US provides high liquidity but also very few crypto assets.
Products by Binance US
Binance US offers all the essential features. However, due to regulatory laws in the US, it cannot provide its services up to its full potential. You can easily buy, sell, and trade in crypto at Binance US. Other features at the exchange include basic and advanced trading options and the OTC trading portal.
Binance US Fees
The fee at Binance US is comparatively higher than Binance. The exchange charges a 0.1% spot trading fee and a 0.5% instant buy/ sell fee. If you hold BNB in your account, then the exchange will use it to pay the fees by default.
To learn more, read our article on the Binance Fees. You can also observe the maker and taker fee based on your BNB holding and past 30D trading volume in the below table:
Binance US Security
Binance US maintains complete security keeping the reputation of its parent organization. However, in 2019 hackers stole around 7,000 bitcoins; the absolute value then was $40 million. The company claims that they have paid the losses in full to the affected users.
Binance US: Pros and Cons
|The exchange uses the same technology as Binance and hence is faster than its competitors.||The exchange has a limited choice o crypto assets.|
|It also provides higher liquidity than other exchanges.||Not all the features of Binance are available at Binance US.|
|The trading fees is 0.1% and even less if you own BNB.|
Crypto.com is a crypto trading platform with more than 10 million active users. The exchange provides one of the best security services in the crypto market. It has over 360 M USD in insurance coverage.
Products by Crypto.com
Crypto.com offers a wide range of products to its users. You can visit the Crypto.com exchange platform and trade in one of the many options such as margin, derivatives, spot, etc. The platform also allows you to use DeFi wallet, Defi Earn, and Swap.
Sadly we cannot cover all of the products of Crypto.com in this article. However, you can still learn about them by reading our Crypto.com review. Crypto.com also offers its own NFT platform, and you can learn more about it by reading our review of the Crypto.com NFT platform. The platform also provides its own Visa card, you can learn about it by reading our review on the MCO card.
Crypto.com follows a tiered fee system for its users, and you can calculate your fees based on the below table.
If you use CRO and pay your fees in it, you are entitled to a discount. Furthermore, even staking in CRO will get you a 10% APY on your CRO stake. You can also apply for a VIP account by mailing your application to [email protected] and hence enjoy additional incentives.
The exchange uses cold storage to store your crypto assets and stores a small number of assets in hot wallets for day-to-day uses—the exchange stores FIAT currencies in custodian bank accounts. The platform uses the highly secure AWS for its firewall and encryption.
The exchange complies with the following CCSS (CryptoCurrency Security Standard), becoming the first exchange for owning all the below certificates at the same time:
Crypto.com: Pros and Cons
|You can earn up to a 50 USD sign-up bonus by clicking here.||The in-app live support is struggling to provide services to users due to excessive requests.|
|You can buy/ sell crypto with credit/ debit cards.||The exchange has a $7,500 daily withdrawal limit.|
|One of the best security services is available.|
Coinbase Alternatives: Conclusion
Coinbase is an expensive crypto exchange that lacks many other things. There are many other exchanges in the crypto market that offer similar or even better services. Hence you can go with any of the above exchanges as an alternative to Coinbase. In case you are interested in going deeper into crypto trading, then I’d suggest choosing Gemini. On the other hand, if you wish to begin your trading journey, then you should try Kraken.
Frequently Asked Question
Robinhood provides a diverse range of products to invest in and hence at times, can be overwhelming to beginners. However, the exchange also has an interactive UI and has no account minimums. You can surely go for Robinhood if you’re ready to learn about the platform elsewhere. They don’t have any educational tools.
First of all, you’ll have to log into your Coinbase account and then visit the send or receive section from the header of your dashboard. Then you can enter the wallet address of the receiving account and hit the send button.
If we are talking about features such as security, mobile app, and fees charged, in that case, Gemini can be considered a better option. However, if you’re looking to go deeper into crypto trading, Coinbase might be a better choice. To learn more read Gemini vs Coinbase.
If you are done using Coinbase and wish to delete your account, you need to head over to the settings’ activity page. Now scroll down and find the close an account option at the bottom of the page. Now, click on it and disable your account. Do make sure you don’t have any funds in your account before closing your Coinbase account.
To withdraw from Coinbase, you need to go to the Accounts section and then click on BTC wallet and hit the send button. If you’re using a Coinbase Pro account, then click the withdrawal button and enter all the details on the next page, including the receiving account’s wallet address.