7 Best Alternatives to Coinbase in 2024

Coinbase is the world’s largest publicly traded crypto exchange and is immensely popular among users for its transparency and low fee structure. However, the sudden collapse of FTX, previously a leading crypto exchange, has instilled a fear among traders that even the top exchanges can go down.

This alone is a good enough reason to look for the best alternatives to Coinbase in 2024. That’s why we’ve composed a thorough, comparative marketplace analysis.

Read on to discover our full guide to the best alternatives to Coinbase.

Choosing the best alternatives to Coinbase

We analyzed the best alternative crypto exchanges to Coinbase using criteria such as ease of use, number of assets available, security, and fees. Our expert reviewers also used their own experience with the platform to judge subjective qualities like ease of use and customer service. Read more about how we rank crypto exchanges in our full methodology below.

Top Coinbase alternatives- A closer look

Now that you know which are the best 7 Coinbase alternatives, let’s understand what makes them so:

1. Kraken – A Coinbase alternative for crypto traders of all skill levels

Kraken is a prominent cryptocurrency exchange that has earned the reputation of a comprehensive platform suitable for starters and experienced traders. Its base platform boasts simplicity and user-friendliness, while Kraken Pro, its advanced offering, contains a range of advanced tools.

Support for an extensive range of cryptocurrencies and a focus on reliability and security makes Kraken a go-to exchange for millions of traders. The exchange supports around 200 cryptocurrencies and offers a Kraken Wallet, making it one of the best crypto exchanges and a formidable Coinbase alternative.

Kraken is also known for its low fee structure, responsive customer support, and advanced features, like margin and derivative trading. Even Kraken Pro offers large savings to traders who trade often and in large amounts.

Kraken is among the few exchanges that support crypto futures trading on popular cryptocurrencies. Moreover, the platform supports leverage of up to 5x for qualified accounts, allowing traders to trade more than they have.

Kraken users can also trade freely with peace of mind, knowing that the platform offers customer support 24 hours a day via live chat, phone, and email.

Overall, Kraken’s support for a broad range of cryptocurrencies, low fee structure, and the inclusion of advanced trading options make it popular among both novice and seasoned traders, and present it as an excellent alternative to Coinbase.

Number of Cryptocurrencies	200+
Payment Methods	Visa and Mastercard, Apple Pay and Google Pay, ACH online banking with Trustly.
Trading Fees	0% to 0.40%
Customer Service Options	Live chat, Email, Submitting a form
Regulations	FinCEN
KYC Required	Yes

2. Binance – A comprehensive platform with advanced features and low fees

Binance, the world’s largest exchange by volume, is known for its extensive global reach and robust support. With a diverse range of cryptocurrencies to choose from and low trading and withdrawal fees, Binance is a popular choice for users worldwide and a solid alternative to Coinbase.

Binance caters to all types of traders with its comprehensive suite of advanced trading features, including the option to carry spot and futures trading. The platform even offers American Options, which can be exercised anytime before expiration.

Additionally, Binance’s comprehensive crypto directory enables traders to efficiently track prices, market movements, and trends for many cryptocurrencies. Its other advanced features include crypto loans, automatic trading bots, and more.

Despite its advanced features, Binance’s easy-to-use platform and simple trading process also attract new traders. Regarding fees, the platform uses a tiered fee structure that depends on a user’s 30-day trading volume.

Though Binance caters to users worldwide, it is no longer available in the United States. US traders can use Binance.US, but it has fewer features and different fee structures than the standard platform.

Overall, Binance’s diverse cryptocurrency offerings, advanced features, lower fees, and simple UI make it a popular choice for traders worldwide and one of the best Coinbase alternatives. The main platform’s absence from the US, however, tarnishes its attractiveness somewhat.

Number of Cryptocurrencies	500+
Payment Methods	bank transfer, credit/debit card, and third-party payment providers
Trading Fees	0.075% to 0.0525%
Customer Service Options	Live chat
Regulations	FinCEN
KYC Required	Yes

3. OKX – Good for advanced traders, but has decent learning tools for starters as well

OKX is a global cryptocurrency exchange that provides traders with a suite of additional services. Though the main platform is not available in the US and Canada, it does offer simpler trading options to US and Canadian users through OKcoin.

OKX is the world’s second-largest crypto derivatives trading exchange in terms of volume. The exchange also offers a feature-packed crypto wallet with support for numerous blockchains and easy access to DeFi apps.

On one hand, the platform offers several powerful tools, such as futures trading, trading bots, and margin trading, to cater to advanced traders. On the other hand, it provides a generously funded demo account and copy trading feature to let new users try the platform and develop their trading skills.

OKX offers several types of bots that traders can customize, such as dollar-cost averaging (DCA) bots, which help to optimize a trader’s cost as they build a position. Traders can also create their own trading bots on OKX (using both real and demo accounts).

OKX has a simple trading form for beginners and an active trading platform for intermediate to expert traders. In terms of fees, the platform’s fee structure is among the lowest in the industry.

OKX is undoubtedly a popular platform that caters to experienced traders with its advanced features and to new users with its beginner-friendly tools. Taking this into account, OKX is one of the most diverse and best alternatives to Coinbase in 2024.

Number of Cryptocurrencies	350+
Payment Methods	Bank transfers, Google Pay, Debit and credit cards
Trading Fees	0.08% to 0.1%.
Customer Service Options	Voicemail message
Regulations	FinCEN
KYC Required	Yes

4. MEXC – Fast and innovative

MEXC is a global cryptocurrency trading exchange formerly known as MXC Exchange. Founded about six years ago, it has grown rapidly to serve more than 10 million users in over 170 countries.

Within a year, MEXC captured 5% of the global crypto exchange trading market, and in 2021, it won the award for the “Best Crypto Exchange Asia” at the Dubai Crypto Expo.

MEXC’s achievement comes as no surprise, considering it processes more than 1.4 million transactions per second and supports over 2,000 trading pairs. The platform uses a mega-transaction matching technology, allowing it to execute trades quickly and efficiently.

MEXC’s commitment to security is another thing that makes it better than most. The platform adopts advanced security protocols to protect user funds and personal information. Another distinguishing feature is the ‘MEXC Launchpad’ feature, which allows traders to buy and stake new and recently released crypto.

MEXC’s trading fees are also among the lowest in the industry. There are 0% spot trading fees and a 0.02% taker fee, which reduces to 0% for limit orders. Additionally, the platform allows users to stake their holdings to earn up to 10% in annual yields.

Overall, MEXC presents itself as a compelling alternative platform to Coinbase for crypto traders, especially those looking to invest in new altcoins and low-fee trading.

Number of Cryptocurrencies	2500+
Payment Methods	Credit card, Global bank transfer (SWIFT), P2P trading, Third-party payments
Trading Fees	0.0% and 0.1%
Customer Service Options	Raising ticket, Call
Regulations	–
KYC Required	Yes

5. ByBit – Ideal for all types of traders

ByBit, with its privacy-first approach and strong security measures, is definitely among the best cryptocurrency exchanges and a formidable Coinbase alternative.

Moreover, the platform’s trading and earnings features appeal well to both casual traders and hodlers (individuals that plan to hold cryptos in their wallets for a long time).

ByBit has a user-friendly, intuitive desktop and mobile platform that supports hodlers. Additionally, the platform allows the staking of assets and earning passive income, making it apt for users who want to hold and grow their portfolios.

ByBit has gained users’ trust through many of its features, including its 1:1 reserve of all user assets. The reserve means users can hold their assets on the platform without worrying about potential insolvency.

ByBit offers competitive trading fees and supports many cryptocurrencies. The platform also has lightning-fast transaction speed and fees that are at par with other popular exchanges.

Though the platform has lower liquidity than other exchanges like Binance and Coinbase, its features, including the launchpad, earn hub, trading bots, and copy trading, provide numerous options for casual traders to execute trades profitably.

Overall, Bybit’s strength lies in its simplicity and security. The platform offers a full-featured trading platform with fees among the lowest in the industry, making it ideal for all types of traders. With this in mind, it qualifies as a strong alternative to Coinbase.

Number of Cryptocurrencies	600+
Payment Methods	Debit cards, Credit cards, In-person cash payments
Trading Fees	0.04% to 0.1%
Customer Service Options	Live chat, Submitting a case via link
Regulations	–
KYC Required	Yes

6. Gate.io – Comprehensive platform offering high staking yields

Gate.io is a comprehensive platform that covers a range of digital assets for trading, including cryptocurrencies. The platform offers almost all advanced trading features, ranging from crypto loans to margin trading and high staking yields

Gate.io allows retail investors to take up to 10x leverage and use their crypto holdings as collateral to take out crypto loans. Investors can earn high APYs (Annual Percentage Yields) by staking their coins. For instance, staking USDT can earn 16.65% APYs.

For starters, the platform has a Copy Trading feature, which allows them to replicate the strategies of skilled and experienced traders. Gate.io also allows traders to invest in new and innovative cryptocurrency projects.

For experienced traders, the platform offers advanced trading tools and many innovative features, including trading bots with high customizability options. In terms of fees, the platform offers competitive fees to its users, with options to reduce it further with the use of GateToken (GT).

Gate.io also prioritizes user education and boasts a massive library of informative articles, tutorials, and webinars on its platform. The platform also excels in implementing robust security measures, such as cold storage and external audits.

Overall, Gate.io is a user-friendly platform with dedicated security measures and an extensive selection of cryptocurrencies, making it a reliable option for investors looking to diversify their investments in digital assets.

Number of Cryptocurrencies	1400+
Payment Methods	Bank transfers, Debit cards, Credit cards
Trading Fees	0.1%
Customer Service Options	Live chat, Email, Submit a request form
Regulations	FinCEN
KYC Required	Yes

7. Gemini – Secure and complies with all regulations

Gemini is among the top crypto exchanges in terms of security and regulatory compliance. Not only is it one of the few crypto exchanges available in all 50 US states, but it also offers robust security measures, creating a secure trading environment for all users.

Gemini’s default trading platform is easy to use and provides enough features to conduct trades efficiently. It also offers a high-performance cryptocurrency trading platform, Gemini ActiveTrader, for experienced traders. This platform offers multiple order types, advanced charting tools, and more.

Gemini also excels at cryptocurrency educational content, providing well-written, informative guides on a wide variety of topics related to blockchain and Web3.

Another distinguishing offering is the Gemini Credit Card, which lets users earn crypto rewards on purchases. The card offers many other benefits, including a 4% back on gas fees and EV charging.

However, fees are Gemini’s biggest drawback. The platform’s fee ranges from $0.99 to $2.99 for orders up to $200 and 1.49% for orders above $200. Gemini, however, offers competitive fees for the Gemini ActiveTrader, ranging from 0.03% to 0.40%.

Overall, Gemini’s broad lineup of cryptocurrencies, massive educational content library, focus on security and compliance, and plenty of other valuable features make it suitable for beginners and advanced investors and a worthy alternative to Coinbase.

Number of Cryptocurrencies	70+
Payment Methods	Bank transfers, Swift wire transfers, Debit cards, Apple Pay, Google Pay
Trading Fees	$0.99 to $2.99 for orders below $2001.49% for orders above $200
Customer Service Options	Request form
Regulations	New York State Department of Financial Services (NYDFS)
KYC Required	Yes

7. Gate.io – Comprehensive platform offering high staking yields

Gate.io is a comprehensive platform that covers a range of digital assets for trading, including cryptocurrencies. The platform offers almost all advanced trading features, ranging from crypto loans to margin trading and high staking yields

Gate.io allows retail investors to take up to 10x leverage and use their crypto holdings as collateral to take out crypto loans. Investors can earn high APYs (Annual Percentage Yields) by staking their coins. For instance, staking USDT can earn 16.65% APYs.

For starters, the platform has a Copy Trading feature, which allows them to replicate the strategies of skilled and experienced traders. Gate.io also allows traders to invest in new and innovative cryptocurrency projects.

For experienced traders, the platform offers advanced trading tools and many innovative features, including trading bots with high customizability options. In terms of fees, the platform offers competitive fees to its users, with options to reduce it further with the use of GateToken (GT).

Gate.io also prioritizes user education and boasts a massive library of informative articles, tutorials, and webinars on its platform. The platform also excels in implementing robust security measures, such as cold storage and external audits.

Overall, Gate.io is a user-friendly platform with dedicated security measures and an extensive selection of cryptocurrencies, making it a reliable option for investors looking to diversify their investments in digital assets.

Number of Cryptocurrencies	1400+
Payment Methods	Bank transfers, Debit cards, Credit cards
Trading Fees	0.1%
Customer Service Options	Live chat, Email, Submit a request form
Regulations	FinCEN
KYC Required	Yes

Coinbase alternatives – key facts

	No. of Crypto Supported	Copy Trading	Trading Bot	Fees	Countries Available
Kraken	200+	Yes	Yes	0% to 0.40%	190+
Binance	500+	Yes	Yes	0.075% to 0.0525%	180+
OKX	350+	Yes	Yes	0.08% to 0.1%.	100+
MEXC	2500+	Yes	Yes	0.0% and 0.1%	170+
ByBit	600+	Yes	Yes	0.04% to 0.1%	200+
Gate.io	1400+	Yes	Yes	0.1%	200+
Gemini	70+	No	Yes	$0.99 to $2.99 for orders below $2001.49% for orders above $200	60+

Different types of crypto trading platforms

With such a broad range of options available in the market, here is a simplified breakdown of the different types of crypto platforms.

Centralized exchanges (CEXs)

CEXs run on a centralized server, and that’s why they are called centralized exchanges. Such an exchange matches buyers and sellers to facilitate transactions in exchange for a fee for each trade.

Centralized exchanges offer a user-friendly and familiar trading interface, making it easier for new users to trade crypto. Such exchanges follow high governance standards and are subject to regulatory scrutiny.

CEXs also require users to share personal information, but only to comply with the Know Your Customer (KYC) and Anti-Money Laundering (AML) laws. Coinbase, Binance and Kraken are some examples of CEXs.

Decentralized exchanges (DEXs)

Unlike CEXs, DEXs do not rely on a central authority; rather, they use an automated system to allow trade between buyers and sellers. Such exchanges also use smart contracts and blockchain technology to allow peer-to-peer trading of crypto assets.

DEXs offer comparatively low transaction costs and higher security. Uniswap, PancakeSwap, and Curve are some examples of DEXs.

P2P exchanges

P2P or peer-to-peer exchanges are platforms where users trade cryptocurrencies directly with each other. Basically, such platforms give users the choice to select the other trader they want to transact with.

Unlike CEXs and DEXs, buyers and sellers on a P2P platform need to agree on the token price before a transfer is made. Such platforms allow users to stay anonymous and keep prices low. ByBit, Huobi P2P and LocalCoinSwap are some examples of P2P exchanges.

How to choose the right Coinbase alternative

In such a saturated market, it’s important to feel confident and assured in picking the right crypto exchange. Here’s some key pointers on how to do this.

• Fees: Coinbase is known for charging comparatively higher transaction fees. Thus, it is important that the platform you select offers low fees. You must also ensure that other fees, such as withdrawal fee, transfer fee and more, on the platform are also minimum.
• Transaction types: Make sure the platform you select offers all the transaction types that you want to trade now and you may trade in the future. For instance, if you are an experienced trader, you will want your exchange to support advanced transaction types such as margin and derivative trading.
• Reputation: Cryptocurrencies are still a relatively new asset class that has already attracted many frauds and scams. Thus, it is important that you select a well-established and reputed platform. Consider user reviews and industry insights to support your decision.
• Ease of use: If you are just starting your investing career, you don’t want to handle too many tabs and complex interfaces. Make sure the trading platform you select is easy-to-use and has a user-friendly interface.
• Customer support: Customer support is another feature to look for before zeroing in on a Coinbase alternative. Ensure that the platform offers many customer support options and is available 24/7 for quick query resolution.

The importance of using a US-licensed exchange

It is always better for both new and experienced traders to trade on a US-registered exchange. Trading on a US-registered exchange offers many benefits, including investor safety, more security, and market integrity.

Moreover, a US-registered exchange ensures that the entity follows financial rules and that users get legal options in case the exchange is found guilty of any wrongdoing.

Another benefit of a US-registered exchange is that it enhances the credibility of the overall crypto market, and this in turn, attracts institutional investors and traditional financial institutions which further enhance the credibility of the crypto market.

Risks of using a crypto exchange

While now established, the crypto markets are still relatively new and unregulated. Here are some of the key risks associated with this.

• Security risks: The growing popularity of crypto exchanges is attracting many malicious actors. Hackers try to gain unauthorized access to user funds stored on crypto exchanges, and crypto exchanges’ weak security practices raise the chances of such risks.
• User risks: Crypto transactions are irreversible as they are stored on a blockchain. It means that once a user executes a transaction it can’t be reversed or cancelled.
• Regulatory risks: Regulations surrounding cryptocurrencies and exchanges are still being developed. Thus, there are many areas where regulations are still unclear or there are no regulations at all. The absence of comprehensive regulations raises the chances of fraud and unethical practices by unscrupulous exchanges.
• Operational risks: Crypto exchanges may encounter technical glitches and system outages, resulting in poor user experience and likely losses of users due to issues with trade execution.
• Counterparty risks: Such a risk is high in P2P or peer-to-peer exchanges. There is no central authority in P2P exchanges, and thus, users trade with each other directly. Users are responsible for selecting the other party, negotiating the terms, and executing the terms of the contract.

Methodology: How we chose the best Coinbase alternatives

To find the best Coinbase alternatives, we first identified the factors that make Coinbase popular among users. We then used those parameters to find Coinbase alternatives. We assigned a score to each Coinbase alternative on each of those parameters.

Finally, we used the cumulative score of each exchange to come up with the list of top Coinbase alternatives. Following are some of the factors that we looked at:

• Supported cryptocurrencies: Coinbase supports many cryptocurrencies, including popular ones and numerous altcoins. So, we have considered exchanges that support a similar number of cryptocurrencies.
• Trading fees: Coinbase has among the lowest trading fees in the industry. Thus, we have considered exchanges with trading fees that are lower or similar to Coinbase.
• Customer support: It is one of Coinbase’s strengths, and thus, the exchanges we considered also offer robust customer support. By robust customer support, we mean offering users many ways to contact customer support and quick response time.
• Advanced trading features are often the most important factor when choosing an exchange. When creating a list of Coinbase alternatives, we considered the presence of both basic and advanced features.
• Ease of use: It basically means how easy the platform is to use. To determine the platform’s ease of use, we considered user reviews, especially from beginners.

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