Alternatives to Coinbase
Many people turn to Coinbase.com when they want to buy and sell cryptocurrency. This leading exchange is known for being highly reliable and simple to use. However, the fact that Coinbase.com does not offer its services to several countries poses a problem to a lot of people. Fortunately, there are some excellent alternatives to Coinbase.com. This article will focus on Coinbase competitors that anyone can use regardless of where they live.
If Coinbase does not offer its services in your country, you still have some excellent exchanges at your disposal. In fact, you might find that these platforms are even better than Coinbase in certain areas. Let’s take a quick look at Coinbase competitors similar to Coinbase and examine a few of the pros and cons.
This exchange is located in London and is one of the largest trading platforms in the world. Cex.io appeared in 2013 and is available in 99% of countries of the world. Like Coinbase, this exchange allows the instant purchase of Bitcoin and Ethereum using wire transfers and debit/credit cards. Check out how to buy Bitcoin with a credit card in our article.
Cex.io supports new cryptocurrencies and allows buying them for fiat (dollars, euros, rubles, pounds sterling).
- Mobile version availability.
- 24-hour technical support.
- Low trading fees – from 0 to 0.2%.
The main disadvantage of CEX.io is they require your Bank statement for the last six months or year. Thus, CEX.io employees can have access to your sensitive information. There is a high risk that your bank statement may be disclosed to third parties or publicly available. For this reason, we do not recommend CEX.io, whose requirements exceed the limits of reasonablness.
Kraken.com, created in 2011, is also a good alternative to Coinbase. It is especially popular in the United States and Great Britain, but access to it is open almost in any country of the world.
Kraken supports a very impressive list of fiat currencies – euro, dollar, pounds sterling, Japanese yen, Canadian dollar. In addition, the platform has a mobile application. Fees vary depending on the type of transaction and its volume – from 0 to 0.26%.
- The availability of margin trading.
- Deposit replenishment through wire transfers and SEPA.
- Orders can take a little longer to go through.
- Some transactions cost more to process.
- Kraken holds keys to your account.
LocalBitcoins.com is the largest peer-to-peer market for crypto-currency, where sellers and buyers meet directly. Trade can be carried out online and offline, and the geography of transactions covers almost all countries of the world.
The purchase and sale of coins can be made in almost any fiat currency and in any convenient way, including paying in cash in person. However, when trading online, you will have to pay a fairly high fee – 0.5%.
- The opportunity to negotiate with the seller/buyer about the price and fees (offline).
- All payment methods are available.
- The site is available in any part of the world.
- Only supports Bitcoin. Does not support altcoins.
- Higher fees for cash payments.
- Geared toward smaller Bitcoin investments.
For those who are accustomed to using credit/debit cards, Coinmama.com will be the best alternative to Coinbase because this platform allows you to instantly acquire cryptocurrencies by transferring funds from your card. It is available in 237 countries.
- Fiat support.
- Good support service.
- Access in almost any country.
- Big commission fees.
- You are buying crypto coins here 5-10% more expensive than it is traded on exchanges.
- At Coinmama, you can not sell your own coins because this site was created solely for purchase.
One of the alternatives to Coinbase for European countries residents is Bitstamp.net. This site was established in 2011 and is one of the oldest bitcoin-exchanges. It allows you to purchase Bitcoin for fiat currencies common in Europe:
- Pound sterling.
- Swiss francs.
Besides, some top altcoins are also listed on the exchange, and they can also be purchased for fiat. Many people like Bitstamp for very low fees, which vary in size from 0.1 to 0.25%.
- Licensed in Europe.
- Support of different payment methods: Debit/credit cards, bank transfers, SEPA, etc.
- Applications for iOS and Android.
The most serious shortcoming of this exchange is a verification process. Without passing it, you will not be able to work with the fiat, and the procedure itself due to a slow support service can take a few weeks. It is obvious that the Bitstamp support service is not particularly concerned about the client service and does not seek improvement.
Of all the alternatives to Coinbase, Indacoin.com is the most suitable for beginners because it has a simple interface without incomprehensible functions piling up of each other. Please note that the Indacoin platform works exclusively with credit and debit cards and the PayZa payment system. All payments are accepted in dollars.
It is also worth noting that Indacoin will have to pay relatively high fees, but the platform offers high-quality technical support and works fast.
- A simple and intuitive interface for beginners.
- The platform is available all over the world.
- Does not facilitate the selling of cryptocurrency.
- Higher than average fees.
- Low purchase limits.
This exchange was founded in 2014 by the Winklevoss twins. Gemini.com allows you to purchase Bitcoin and Ethereum using wire transfers. Unfortunately, just like Coinbase, this exchange has very strict geographical limitations. It is most widely accepted in the USA.
Gemini can be used by residents of 46 states in the US, as well as citizens of Great Britain, Hong Kong, Canada, Singapore and South Korea.
- No fees for the deposit or funds’ withdrawal.
- Qualified technical support.
- A smaller selection of cryptocurrencies.
- Few educational resources and complicated interface are not ideal for beginners.
- The site holds users’ keys.
Exodus.io is an ideal exchange for beginners. The interface and design are incredibly user-friendly, and the site features an abundance of educational resources and tools. Exodus does not require users to register, and they don’t have access to your personal information or private key. Wallets are password protected and automatically lock after a predetermined period of time.
- Users retain their private keys.
- Supports several cryptocurrencies.
- The site and the app both have a user-friendly interface.
- Supports custom fees for Bitcoin.
- Exodus charges higher than average transaction fees.
- Does not have two-factor authentication.
- Not the most secure wallet.
iTrustCapital.com provides users with a simple platform to trade an assortment of cryptocurrencies and silver and gold. Users can choose to take disbursements in cash or in the form of assets they have invested in. iTrustCapital is better than Coinbase in terms of its IRA offerings and its simple structure. It a great platform for beginners and those who want to integrate cryptocurrencies into their retirement account.
- User-friendly platform enables users to purchase and sell in a couple of minutes.
- Great selection of free educational resources, professional advice, and helpful blogs.
- No account setup fees or storage fees.
- Supports a limited number of cryptocurrencies compared to other exchanges.
- iTrustCapital does not yet have a proprietary app.
- Users must pay a $29.95 maintenance fee.
Probably Bitcoin-ATMs are the most exotic of all alternatives to Coinbase. They are devices that work as classical banking terminals, but instead of replenishing the mobile phone account, you replenish your own cryptocurrency wallet.
I would like to note at the outset that such devices are not so common. Therefore only residents of a very few countries and cities can use them (for example, there is a good network of Bitcoin ATM in Toronto and other Canadian cities). Also, Bitcoin-terminals charge a large fee in comparison with any of the platforms above.
As you can see, Coinbase alternatives are not so difficult to find – many platforms offer a simple purchase of Bitcoin and other cryptocurrencies for fiat. Which platform to choose from? Many experts speak highly of Kraken and CEX.io. However, recently Kraken has some problems with stability.
It is best to familiarize yourself with each option personally and choose the most convenient and profitable for yourself.
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