Coinbase Alternatives

Crypto trade has been on the rise for around decade now, where more and more people come to realise the many benefits that come with digital finances. To date, there are over 1,000 active coins and token, running over dozens of Blockchain networks. Needless to say, there are several ways in which one can acquire crypto coins and tokens, as will be shown in this comprehensive analysis of Coinbase alternatives.

Alternatives to Coinbase

Coinbase itself is regarded as one of the best exchange platforms in the world, where it is among the first to be established. By volume and affordability, they are projected to be the second largest, falling right after Binance. However, the platform easily takes the lead when it comes to overall service reliability, security and ease of use. That said, Coinbase is known to experience some system defects, most likely due to peak traffic on the platform. To such ends, we are forced to come up with an alternative to Coinbase. Needles to say, there are quite a number of Coinbase competitors, given as follows:

CEX.io (Recommended)

CEX is one of the many sites like Coinbase, described as a homebased crypto exchange, developed, launched and operated in London, England. It was established several years back, in 2013. Save for a few critical evaluations, the platform got off to a pretty good start, where it successfully set up steady footing in the crypto industry at large. From there, all seemed to be an upward chart for the platform, where its overall popularity rapidly grew. To date, CEX.io’s reputation is impressive even across oceans, particularly in the United States. Various transaction modes are available with CEX, most of which are given with step by step assistance till completion. In terms of circulation, the platform is rather sizable, featuring dozens of different altcoins and tokens, as well as several other large cap coins. From the onset of the platform’s interface, users will find it remarkably simple to get around, where even the registration procedure is simple and straightforward.

Features

  • Features dedicated BTC trade pairs, meant to facilitate in more convenient trade operations.
  • Trade payments can be made using a number of methods, inclusive of both crypto and conventional currencies.

Pros

  • Instant transaction processing
  • Better security of funds and personal information

Cons

  • The transaction fees are quite high, at 7% of the amount in transit.

Coinjar

Coinjar joined the world of cryptocurrencies in 2013, effectively making it one of the oldest exchanges there is. They are quite notable for their security features, where all sensitive user data and transaction logs are either put into the virtual ledger, or tucked away in a very secure spot. The developers of the platform are of European origin, where the platform itself is now operated from the United Kingdom, with services that reach every corner of the planet. Traders can partake in all kinds of operations, even provided with simplified guidelines on how to initiate each.

Features

  • Included on the platform is a customer service panel, dedicated to assisting users where they may face any problems.
  • Also featured is a Coinjar application, compatible with most android, iOS and Windows mobile devices and PCs.

Pros

  • The transactions are very affordable, charged at 1% of the total amount
  • Ease of use
  • Fast processing throughout

Cons

  • The total coin capacity is quite low

LocalBitcoins

This is one of the more unique crypto exchanges that facilitate in Peer to Peer (P2P) trades. Peer to Peer exchanges are not at all new, but they tend to be a bit harder to come across. What makes these types of exchanges is their seamless trade solution, where LocalBitcoins acts as the intermediator between the two parties interested in the purchase. When the buyer makes a crypto order, the platform locates an appropriate seller and links the two. When the trade is initiated, the platform takes the funds and keeps them in transit – this is a security feature meant to deter scammers, in which the platform holds the money, while simultaneously waiting for verification and running legitimacy check on both parties. All this is placed on a very simple, work ready interface, seemingly easy for anyone to use.

Features

  • Interested buyers can purchase their coins using WorldRemit, Bank Transfers, Remitly, Payoneer or Advcash
  • Features an Escrow, designed to give step by step assistance to users as they make their trades.

Pros

  • Seems to be affordable
  • Fast processing rates
  • Trades a lot of currencies

Cons

  • No credit or debit card payment option

Binance

At the moment, Binance is among the largest crypto exchange platforms in the world. It is recognised across the entire industry, mostly due to their large volume of circulation. A couple hundred coins are available for purchase in Binance. To make things a bit more interesting, they go a step further with their crypto coverage, where users can even purchase a number of the most famous blockchain tokens out there. Simple trade is not their only specialty, where they also facilitate in crypto investment operations. Among the several other trade options, is Peer to Peer trade, which may as well be the simplest and most efficient trade route.  All this is very easy to do, no matter the user’s relative level of experience. This is made so by their default parameter settings, meant to assist trades appropriately. The overall user interface is nicely crafted, very attractive but made to be effective above all else. Their daily traffic is, not at all surprisingly, massive, where they receive transaction requests from traders all over the world.

Features

  • Users can conveniently purchase coin by way of fast payments, Debit and Credit cards, Transferwise or simple Bank Transfers. Standard fees apply to each of these.
  • They feature separate crypto accounts with Binance Earn. They are quite lucrative over the long run, not to mention very convenient.
  • The platform also features a dedicated currency system, with a native token known as the Binance coin.

Pros

  • Allows users to take crypto loans
  • Vast cryptocurrency pool
  • Affordability due to relatively lower transaction fee charges.

Cons

  • The interface tends to lag a bit due to high traffic rates.

Coinmama

Coinmama is yet another excellent crypto exchange, one that gives users quite a number of trade options. The platform facilitates in the trade of dozens of cryptocurrencies, where any associated payments can be made by way of fiat currencies. An option to trade with other crypto is also available. All verified transactions are executed with immediate effect, where they typically reflect into the intended account almost instantaneously.

Features

  • Purchases can be made using the following modes of payment; Apple Pay, Debit and Credit cards, SWIFT or via direct Bank transfers
  • It makes use of a crypto broker facilitator service

Pros

  • Ease of use
  • High limits to the amount of money that can be purchased at any given point in time.
  • Several modes of fiat payments.

Cons

  • Relatively higher transaction fees

BitPanda

BitPanda has been around for quite some time, having been launched back in 2014. The developers and operators are in no shortage of no experience, as reflected by the general convenience that surrounds the platform and its associated operations. The main interface may be a tad bit intimidating at first, but it is quite easy to get the hang of and understand. The overall volume of circulation in BitPanda is quite good, where they go on to include a couple of large cap coins. The platform is of Austrian origin.

Features

  • The interface is complete with an educational panel meant to be a kind of facilitator to those new traders.
  • Features an up to date crypto index of relative market values and associated statistical data.

Pros

  • Fast transaction processing rates
  • Facilitates in a wide range of investment options
  • Fiat payments are supported

Cons

  • The relative transaction fees are not specified buy the operator, but deductions are still made to fiat inclusive transactions.

How to choose the Best Coinbase alternative

Being self conscious while picking out platforms the key to making the right choice, where you might even find yourself on a site that is even better than Coinbase. That said, there are a quite a number of traits that you should look for, some of which are given ad follows:

  1. Availability in your region, where the platform’s services must be accessible to local traders.
  2. Past Reviews and Analysis, where most platforms are usually review by past users, especially on crypto-related forums. These are good for getting information relating to speed, efficiency, and reliability of the platform.
  3. You must get information pertaining to regulations, especially since legitimate platforms usually hold a license of some sort.
  4. Customer service lines, because you are bound to reach a point when you need some assistance. In such an event, help must be readily available.
  5. You should look for a more diverse platform, one that gives you a vast choice range of trade pairs.

Conclusion

All the potential traders need reliable platforms on which they can buy and sell coins. With the current rate of technological advancement, it should be no surprise that Coinbase comes with a mobile application. Likewise, it also shouldn’t be a surprise that there are now many other apps like Coinbase. Simply put, there has never been a better time to join crypto trade!




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