Crypto exchanges

Alternatives to Coinbase

  • 20.04.2018
  • 18

Coinbase.com is one of the most popular sites for acquiring cryptocurrency, including Bitcoin. It is characterized by high reliability and simplicity, but has a very serious drawback – it is quite limited. To date, the exchange is available only in a few countries, which makes its use impossible for a lot of people. In this article, we’ll look at the best alternatives to Coinbase, which anyone can use regardless of their country of residence.

Cex.io

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% countries of the world. Like Coinbase, this exchange allows the instant purchase of Bitcoin and Ethereum using wire transfers, as well as debit/credit cards. Check out how to buy Bitcoin with credit card in our article.

Cex.io supports new cryptocurrencies, and also allows buying them for fiat (dollars, euros, rubles, pounds sterling).

✅ Advantages

  • Mobile version availability.
  • 24-hour technical support.
  • Low trading fees –  0 to 0.2%.

❌ Disadvantages

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 reasonable.

Kraken

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 its own mobile application. Fees vary depending on the type of transaction and its volume – from 0 to 0.26%.

kraken fees

✅ Advantages

  • The availability of margin trading.
  • Deposit replenishment through wire transfers and SEPA.

LocalBitcoins

LocalBitcoins.com is the largest peer-to-peer market for crypto-currency, where sellers and buyers meet directly. Trade can be carried out both 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%.

✅ Advantages

  • 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.

Coinmama

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 own plastic card. It is available in 237 countries.

✅ Advantages

  • Fiat support.
  • Good support service.
  • Access in almost any country.

❌ Disadvantages

  • Big comission fees.
  • You are buying cryptocoins here 5-10% more expensive then it is traded on exchanges.
  • At Coinmama you can not sell your own coins, because this site was created solely for purchase.

Bitstamp

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:

  • Euro.
  • Dollar.
  • Pound sterling.
  • Swiss francs.

In addition, 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%.

bitstamp fees

✅ Advantages

  • License in Europe.
  • Support of different payment methods: Debit / credit cards, bank transfers, SEPA, etc.
  • Applications for iOS and Android.

❌ Disadvantages

The most serious shortcoming of this exchange is 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.

Indacoin

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 quite high fees, but the platform offers high-quality technical support and works fast.

✅ Advantages

  • A simple and intuitive interface for beginners.
  • The platform is available all over the world.

Gemini

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.

✅ Advantages

  • No fees for deposit of withdrawal of funds.
  • Qualified technical support.

Bitcoin-ATMs

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 really use them (for example, there is a good network of Bitcoin ATM in Toronto and other Canadian cities). In addition, Bitcoin-terminals charge a large fee in comparison with any of the platforms above.

Summary

As you can see, Coinbase alternatives are not so difficult to find – there are many platforms that offer a simple purchase of Bitcoin and other cryptocurrencies for fiat. Which platform to choose? 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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