Coinbase, our top pick for the best alternative to Binance, is widely recognized as a safe and reputable exchange trusted by users worldwide. Coinbase offers features similar to Binance, including a spot market, an advanced trading terminal (Coinbase Pro), recurring buys, a mobile app, cryptocurrency staking, and a secure mobile wallet. While Coinbase has a smaller selection of supported coins compared to Binance, with over 250 coins available, it remains a close second in terms of trading volume and liquidity. Coinbase is particularly well-suited for beginners due to its user-friendly interface. However, users should be aware that Coinbase charges higher fees compared to Binance.
Kraken, a Bitcoin and cryptocurrency exchange founded in 2011, has gained a strong reputation for its ease of use, safety, and competitive pricing. Although Kraken’s spot trading fees are slightly higher than Binance’s, starting at 0.16% for makers and 0.26% for takers, it remains a compelling alternative for experienced crypto investors. Kraken is licensed and regulated in the US, making it an excellent choice for American users. However, Kraken’s interface may be complex for beginners, and it supports a limited number of crypto assets and markets.
KuCoin, often referred to as “The People’s Exchange,” has become a premium platform for altcoin traders since its establishment in late 2017. With over 700 coins available for trading, surpassing Binance’s selection, KuCoin offers a wide range of markets, including spot, leveraged tokens, derivatives, and a peer-to-peer exchange. While KuCoin’s trading fees are comparable to Binance, its margin trading fees are relatively higher. Nonetheless, KuCoin is a reputable alternative for users outside the United States, offering similar products, services, markets, and coins.
ByBit, a leading platform for futures trading, stands out as the first alternative. With its intuitive user experience and superior mobile app, ByBit offers a top-tier margin platform for trading cryptocurrencies. Traders can leverage up to 100x on coins like Bitcoin, Ethereum, EOS, and XRP, surpassing Binance’s maximum leverage of 50x. ByBit also provides fee rebates to users who provide liquidity to the exchange, making it an appealing choice for margin traders. However, it is worth noting that ByBit is unavailable for users located in the USA.
OKX, known for its reliability and cutting-edge blockchain technologies, provides global users with numerous trading features and benefits. With 366 supported cryptocurrencies across various markets, including spot, futures, margin, and perpetual markets, OKX offers a well-designed margin platform that resembles Binance Futures. Additionally, OKX offers financial management products, such as earning interest on cryptocurrencies, obtaining crypto-backed loans, and staking. OKX’s spot trading fees start at 0.08% for makers and 0.10% for takers, and it provides zero-fee cryptocurrency swaps. However, OKX is unavailable for users in the US.
Bitstamp, the cryptocurrency exchange known for its reasonable commissions and user-friendly interface, is an excellent choice for investors seeking to minimize trading fees. With a straightforward fee structure based on trading volume, Bitstamp offers competitive rates that outperform many popular exchanges. While it may lack a few major cryptocurrencies, its longevity and solid track record make it a compelling option for crypto enthusiasts.
Bitfinex, a veteran cryptocurrency trading platform, has had its fair share of controversies, raising concerns about its legitimacy. However, for those seeking a secure and feature-rich cryptocurrency exchange, Bitfinex is worth considering. It provides users with a wide range of security features and other offerings that rival industry giants like Coinbase and Binance.
Huobi, a global leader in the cryptocurrency industry, has experienced significant growth since its establishment in 2013. Huobi offers a range of products and services, including buying, trading, swapping, storing, borrowing, earning, staking, and selling digital currencies. With a fiat-to-crypto onramp supporting 57 fiat currencies, Huobi appeals to beginners and newer investors. Advanced users can access various cryptocurrency markets, including spot.