Best Alternative to Coinbase

Welcome to this guide, where we are going to see what alternatives there are to Coinbase and what is the best option you can find.

We are going to highlight platforms that we personally use and that we believe are better than others. Still, there is a subjective side and you may find different opinions from other users. But here, at least you will know what we use and not a simple list of platforms that have not been used or analyzed by us. With the reasons why they are better options or when they are worth using such platform.

Mention that we consider Coinabse a good platform, although personally we do not believe it is the best that exists and that you should use.

But first, let’s see why you might not want to use Coinbase. If you simply want to see the alternatives, you can skip this part. With that said, let’s go through the main reasons:

• High commissions.
• Few financial derivatives and staking options (futures, leveraged tokens).
• Few cryptocurrencies on the platform
• Avoid US regulated platforms that can share information with your country’s tax agency.
• Few networks to withdraw cryptocurrencies
  Problems using the platform

Let’s take a closer look at the main reasons you may encounter for not wanting to use coinbase.

The first and second is due to the type of platform it is. Coinbase is designed for new people entering the world of cryptocurrencies, and it is made to be as simple as possible. Thus being much more intuitive than others, and therefore with higher commissions when buying and selling and with fewer options so as not to confuse its users. In addition, since it does not have futures, a large part of the income that other platforms have, has to be compensated with the commission of buying and selling.

Although there is coinbase pro, and it is somewhat more advanced with more options, it is still far from what other platforms offer.

In staking we find few options and few financial derivatives that you may want to use as different variants of the classic futures with coin-m or with cryptocurrencies directly.

Coinbase has few cryptocurrencies on its platform, not wanting to introduce small cryptocurrencies to its user base, many of which are new or inexperienced in this world.

Being regulated in the US, if you live in the US it is very likely that Coinbase shares your information with the IRS and therefore they know your balances or movements of cryptocurrencies. Unlike other platforms that are not based or regulated in the US.

And finally, these types of platforms with a very simple interface, usually have few alternatives to withdraw a cryptocurrency. And sometimes it can be complicated or impossible to withdraw the cryptocurrency you want in a particular network, and usually only the Ethereum network (erc-20) is found, being this the most expensive to use. So sometimes it can be a problem to withdraw the cryptocurrencies you have bought on coinbase to your wallet.

Alternatives

Now that we have seen the weak points of coinbase, let’s go to the best alternatives according to our experience.

Binance: The best alternative and the one we personally use is Binance. There is not much to say about the No. 1 exchange in the world, with more trading volume and more used. Although it is more complicated to use than Coinbase, it is worth learning to use it and it is not as complex as it may seem at first.

Binance has the best commissions to buy and sell cryptocurrencies, better staking options, and a wide variety of financial products such as futures, mining, leveraged tokens, or different variants of futures. Being a very complete platform.

In addition, it has many networks to move your cryptocurrencies outside Binance. It also has many cryptocurrencies that you will not find in Coinbase. Binance is also based in the US, so if you are looking to avoid tax agencies having your movements, Binance may not be for you. If this is not the case for you, I recommend you use binance whenever you can.

If you don’t have an account with binance, you can create one just below.

Platform: Binance
Min. deposit: $10
License: Cysec

Very low commissions
Exchange with more cryptocurrencies

Start

 5/5

KuCoin: KuCoin has many similarities with Binance, but with two main differences that can make it a good alternative. The regulation, not having a headquarters in the US and not being a platform that constantly seeks to be regulated. This makes it more complicated to share your movements with tax agencies if it is not a specific case of crime.

And the other difference is the amount of crypto shops that kucoin has, where you will find many cryptocurrencies that are not in binance and in kucoin you can buy. So these are the two main uses that I find that kucoin can have and binance doesn’t have. Otherwise, it is a very similar platform to binance and one of the best known and largest platforms. Some other platforms similar to kucoin are ByBit or FTX, although the latter is regulated in the US.

If you don’t have an account with kucoin, you can create one just below.