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Our readers come first

 

Our primary goal at The Modest Wallet is to help our readers make smarter money decisions without needing a finance degree. Because personal finance education should be free and accessible to everyone.

 

As an independent publisher, transparency is at the core of what we do and how we do it, so we want you to know that we regularly partner with brands that have products and services that align with our values and will help our readers. When you click on some of the links on our site and complete a required action (i.e., sign up for a promotion, download an app, purchase an item, etc.), we may earn a small commission at no extra cost to you.

 

These partnerships may influence the products we review and write about (and where those products appear on the site), but they in no way affect our recommendation. All of our content and reviews are based on our research and honest opinion. This is regardless of the compensation. None of our partners or advertisers have editorial input or control because our relationship with our readers always comes first.

10 Best Coinbase Alternatives for 2022

Whether you’re looking for better trading fees or an exchange offering interest-earning accounts, here are the best Coinbase alternatives.

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Coinbase is a popular platform for cryptocurrency investors. However, while Coinbase’s user-friendly design makes it a go-to choice for both new and experienced traders, its high fees can be a pain. Thankfully, there are plenty of Coinbase alternatives out there.

The key is figuring out which crypto exchange is right for your investing style.

In this article, we’ll introduce you to the best Coinbase alternatives available today. We’ll also discuss what you should look for when searching for a crypto exchange. That way, you can find the best exchange for growing your portfolio.

Best Coinbase Alternatives of 2021

With so many excellent exchanges out there to choose from, deciding on just one isn’t easy. To help you out, here are the top Coinbase alternatives to consider.

Kraken: Best for Active Traders

Kraken is one of the oldest crypto exchanges in the world. Since its founding in 2011, Kraken has become a powerful platform for traders in more than 150 countries. As such this can be a great Coinbase alternative.

Kraken offers many benefits that investors can’t get at Coinbase. This includes access to futures and margin trading as well as the premium Cryptowatch trading platform. Like Coinbase, Kraken also supports crypto staking and it has an OTC trading desk. However, Kraken has much lower trading fees.

Keep in mind that Kraken is mostly designed for experienced traders, so it’s not always user-friendly. Many of the firm’s features also aren’t available in the U.S. But for experienced non-US-based investors, Kraken is an affordable and powerful choice. Read our full Kraken review to learn more.

Main Features

  • Supported Countries: 150+, plus 48 U.S.states
  • Available Crypto: BTC, ETH, DOGE, AAVE, LINK, + 45 more
  • Trading Fees: 0.9% to 1.5% for instant buys; less than 0.16% for Kraken Pro trades
  • Withdrawal Fees: None
  • Funding Options: Wire transfer, ACH, debit, and credit cards

Pros

  • Low trading fees
  • Futures and margins trading
  • Access to powerful charting tools
  • Staking available on some coins
  • Available in more than 150 countries

Cons

  • Limited functionality in the U.S.
  • Not as user-friendly as Coinbase

In A Nutshell

  • Minimum Deposit: Varies by currency
  • Fees: 0.00% to 0.26% of the order total
  • Promotion: None

on Kraken’s website

Binance: Best for Altcoins

Binance is a crypto trading platform that boasts the largest total trading volume of any exchange in the world. It is available in nearly every country and it has a special platform called Binance.US for U.S. residents. Binance is another good Coinbase alternative.

Like Coinbase, Binance.US offers basic and advanced platforms where you can trade more than 50 cryptocurrencies. The company also offers OTC trading and recurring buys. Non-U.S. investors can also access margins and futures trading, as well as ICOs (initial coin offerings).

For U.S. residents, Binance’s primary advantage is its lower trading fees. Meanwhile, for non-U.S.traders, Binance provides excellent advanced trading features. This makes Binance a solid choice for traders that want both lower fees and plenty of features. Read our full Binance review to learn more.

Main Features

  • Supported Countries: Most countries, plus a special U.S.-based platform
  • Available Crypto: BTC, ETH, LTC, USDT, LINK, + 45 more
  • Trading Fees: 0.5% for instant buys and less than 0.1% for regular trades
  • Withdrawal Fees: ACH withdrawals are free, crypto withdrawal fees vary
  • Funding Options: ACH, wire transfer, debit card

Pros

  • Dedicated U.S. exchange
  • Low fees on crypto trades
  • Supports a wide range of cryptocurrencies
  • Advanced trading features for non-U.S. residents

Cons

  • Charges some withdrawal fees
  • Many features not available in the U.S.

In A Nutshell

  • Account Minimum: $10 per trade
  • Fees: 0.02% to 0.10% purchase and trading fees
  • Promotion: None

on Binance’s website

Gemini: Best for Crypto-Backed Loans

A security-focused exchange with an intuitive layout, Gemini is a U.S.-based platform that strives to make trading crypto as easy as possible. The firm offers crypto trading services to residents of more than 50 countries and all U.S. states.

Gemini has trading features that are similar to what you’d find at Coinbase, including a basic trading platform and the advanced ActiveTrader platform. The firm also offers a crypto-backed credit card, custodial and OTC trading services, and a stablecoin, called Gemini Dollar. 

Additionally, Gemini lets account holders earn interest on certain crypto balances. It even has a crypto-backed payment system that you can use for daily purchases. So, although Gemini is just as pricey as Coinbase, it offers a popular option for people that want to do more than just trade crypto. Read our full Gemini review to learn more.

Main Features

  • Supported Countries: 50+ countries, plus all U.S. states
  • Available Crypto: BTC, ETH, LTC, GUSD, DOT, + 35 more
  • Trading Fees: up to $2.99 or 1.49% for basic trades; 0.25% or less for ActiveTrader
  • Withdrawal Fees: None for ACH, crypto fees vary per coin
  • Funding Options: ACH, wire transfer, debit card

Pros

  • Opportunity to earn interest on crypto
  • Available in all U.S. states
  • Security-focused platform
  • Can earn free crypto through credit card rewards

Cons

  • Just as expensive as Coinbase
  • Limited access for non-U.S. residents

In A Nutshell

  • Account Minimum: $0
  • Fees: From 0.50% of the order total (plus transaction fees)
  • Promotion: $10 worth of Bitcoin (after buying or selling $100)

on Gemini’s website

Voyager: Best for Newbies

Important Notice

On July 1, 2022, at 2:00 PM Eastern Daylight Time, Voyager temporarily suspended trading, deposits, withdrawals, and loyalty rewards and communicated that they are exploring strategic alternatives to preserve the value of its platform.

Voyager is a publicly traded crypto broker that runs on a mobile-first platform. It is available only to U.S. residents outside New York. However, the company has plans to expand its services to other locations in the near future.

Technically, Voyager is a crypto broker that facilitates trades on 50+ cryptocurrencies for no additional commission fee. Voyager’s biggest advantage over Coinbase is that it allows you to earn up to 9% interest on crypto assets held in your account.

Voyager also offers a crypto rewards debit card (launching late 2021), advanced charting tools, recurring purchases, and a native coin called Voyager Token. The downside to Voyager is its limited worldwide availability. But for a low-cost and user-friendly crypto platform, it’s hard to beat. Read our full Voyager review to learn more.

Main Features

  • Supported Countries: U.S. only
  • Available Crypto: BTC, ETH, DOT, VGX, USDC, + 45 more
  • Trading Fees: No commission fees on trades
  • Withdrawal Fees: Varies for each cryptocurrency
  • Funding Options: ACH, wire transfer

Pros

  • Lets you earn interest on crypto
  • Commission-free crypto trades
  • Access to advanced charting tools
  • Option to open a crypto rewards debit card

Cons

  • Available only in the U.S.
  • Few advanced trading features
  • Only available on mobile

In A Nutshell

  • Account Minimum: $10 minimum deposit
  • Fees: Commission-free crypto trading
  • Promotion: None

on Voyager’s website

Bitstamp: Best for Low Trading Fees

Often called the “original global crypto exchange,” Bitstamp is a crypto platform that got its start in 2011. The firm is popular among European-based investors as it’s available throughout the EU. Its recent BitLicense certification in New York also means that Bitstamp is widely available in the U.S., too. Bitstamp is another great Coinbase alternative.

Bitstamp is specifically marketed for intermediate to experienced investors. It offers advanced charting tools, low trading fees, and the premium Tradeview trading platform. The firm now offers instant crypto purchases, too, but with some potentially hefty fees.

Even though the platform doesn’t offer the additional features that you might find at Coinbase, Bitstamp’s very low regular trading fees mean that it’s a suitable choice for people who simply want to buy and sell crypto.

Main Features

  • Supported Countries: 100+ countries and all 50 U.S. states
  • Available Crypto: BTC, ETH, LTC, LINK, XLM, + 10 more
  • Trading Fees: 0.50% or less
  • Withdrawal Fees: Charges for some fiat currencies and cryptocurrencies 
  • Funding Options: ACH, wire transfer, SEPA, debit, and credit card

Pros

  • Widely available around the world and in the U.S.
  • Low trading fees
  • Includes advanced charting tools
  • Access to the premium Tradeview platform

Cons

  • Limited cryptocurrency selection
  • High fees for some withdrawals and card purchases

In A Nutshell

  • Account Minimum: $20 minimum trade amount
  • Fees: Varies between 0.10% to 0.50%
  • Promotion: None

on Bitstamp’s website

Crypto.com: Best DeFi Exchange

Crypto.com is a fully-featured and rapidly growing crypto exchange. The company operates in nearly every country and all U.S. states except New York. It offers more than 90 cryptocurrencies and it features low trading fees.

With Crypto.com, you can access a powerful exchange, crypto-backed credit cards, rewards debit cards, and crypto-backed loans, among other features. The platform also supports margins, derivatives, and NFT trades. You can even earn interest on your digital assets, especially if you stake the company’s native token, CRO.

Keep in mind that many of Crypto.com’s features aren’t available in the U.S. and that the platform can be tricky to navigate. But for experienced traders, Crypto.com is a low-cost option with all the bells and whistles you could dream of. Read our full Crypto.com review to learn more.

Main Features

  • Supported Countries: 150+ countries and 49 U.S. states
  • Available Crypto: BTC, ETH, MATIC, CRO, PAXG, + 85 more
  • Trading Fees: 0.4% or less
  • Withdrawal Fees: Varied charges for crypto withdrawals
  • Funding Options: ACH, wire transfer, credit, and debit card

Pros

  • Available around the world
  • Large selection of supported tokens
  • Offers margin, derivatives, and NFT trading
  • Option for crypto debit, and credit cards
  • Ability to earn interest on crypto

Cons

  • Many features not available in the U.S.
  • Complex interface

In A Nutshell

  • Account Minimum: Varies by cryptocurrency
  • Fees: 0.04%-0.4% (varies by trade volume)
  • Promotion: None

on Crypto.com’s website

Coinmama: Best User-Friendly Interface

Coinmama is an easy way to buy and sell crypto. It was founded in 2013 and it is now available in more than 188 countries and 48 U.S. states.

With Coinmama, you can purchase nine different cryptocurrencies with the push of a button. The platform supports payments via nearly any payment method, including Google Pay and bank transfer. Doing so executes a market order for the crypto of your choice. Afterward, you can spend or save your crypto in any way you want.

However, Coinmama doesn’t offer other features besides its crypto purchasing platform. But if you just want to buy crypto quickly and you’re okay with paying extra for convenience, then Coinmama is a solid option. Read our full Coinmama review to learn more.

Main Features

  • Supported Countries: 188+ countries and 48 states
  • Available Crypto: BTC, ETH, ADA, XTY, XRP, + four more
  • Trading Fees: Up to 5.9% commission fee, plus 5% additional for card payments
  • Withdrawal Fees: None
  • Funding Options: ACH, Apple Pay, Google Pay, SEPA, credit, and debit card

Pros

  • Simplified way to purchase crypto
  • Orders process immediately
  • Available in nearly all locations
  • User-friendly interface

Cons

  • Few supported cryptocurrencies
  • Very high fees
  • No extra features

In A Nutshell

  • Account Minimum: $100 minimum deposit
  • Fees: Varies up to 5.90%
  • Promotion: None

on Coinmama’s website

Swan Bitcoin: Best for Recurring Purchases

Swan Bitcoin is one of the youngest crypto trading platforms. It was founded in 2020 as a straightforward way for anyone to invest in Bitcoin regularly.

The idea with Swan Bitcoin is simple: You link your U.S. bank account and set up recurring purchases for Bitcoin via wire transfer or ACH. You can then establish automatic withdrawals to transfer your Bitcoin to your personal wallet. Doing so lets you accumulate Bitcoin over time so you can take advantage of changing market values.

Swan Bitcoin is available globally, but you need a U.S.bank account unless you use the Swan Private service. The firm currently only supports Bitcoin transactions and it has fairly high fees. However, if Bitcoin is all you want to invest in, Swan Bitcoin is a simplified way to build your portfolio over time.

Main Features

  • Supported Countries: Global, including all 50 U.S. states
  • Available Crypto: BTC
  • Trading Fees: 0.99% to 2.29% per purchase
  • Withdrawal Fees: None
  • Funding Options: ACH or wire transfer

Pros

  • Easy way to accrue Bitcoin
  • Fee discounts for higher volume investors
  • No deposit or withdrawal fees
  • Lets you set up recurring purchases on your schedule

Cons

  • Only supports Bitcoin
  • U.S. bank account required except for Swan Private
  • High fees for purchases

In A Nutshell

  • Account Minimum: No account minimum
  • Fees: Varies between 0.99% to 2.29%
  • Promotion: None

on Swan Bitcoin’s website

BlockFi: Best for Interest-Earning Accounts

Founded in 2017 and headquartered in New York City, BlockFi is a cryptocurrency exchange that offers users interest-earning accounts, low-cost USD loans backed by crypto holdings, and commission-free crypto trading.

BlockFi prides itself on providing some of the best security features in the cryptocurrency lending space. They also operate under federal and state-level regulatory guidelines in the United States.

BlockFi’s main feature is its interest account that provides users a way to earn crypto while holding assets for long-term investments. Interest on selected crypto assets is paid monthly and compounds to maximize returns. 

Another great feature is crypto-backed loans.BlockFi loans allow users to use crypto assets as collateral and receive USD. This is extremely beneficial from a taxation point of view as these loans don’t represent a taxable event. Read our full BlockFi review to learn more.

Main Features

  • Supported Countries: USA
  • Available Crypto: BTC, ETH, LTC, LINK, USDC + 8 more
  • Trading Fees: Up to 1% spread per trade
  • Withdrawal Fees: Varies by cryptocurrency
  • Funding Options: Crypto, wire transfers, or ACH transfers

Pros

  • No monthly fees
  • No account minimums
  • Ability to earn interest on holdings
  • US-Based and Regulated
  • Use crypto assets as collateral for loans

Cons

  • APY and loan rates are volatile
  • No FDIC or SIPC insurance
  • Limited selection of crypto

In A Nutshell

on BlockFi’s website

eToro: Best for Copy Trading

The self-professed social cryptocurrency platform, eToro is an educational and simplified way for new investors to get their start in the world of crypto. eToro is available in more than 100 countries. It also has a US-based platform that’s available in 41 states and Washington D.C.

Like Coinbase, eToro is an exchange where you can buy and sell cryptocurrencies. eToro also lets you copy the trades of other investors. It also has a social platform where you can share insight with other traders. eToro even has a managed portfolio service for hands-off investors.

Additionally, eToro offers an exceptional array of educational and research tools. The platform also doesn’t charge trading fees other than spread charges. But if you want to learn more about crypto from other experienced traders, eToro is one exchange that’s worth considering. Read our full eToro review to learn more.

Main Features

  • Supported Countries: 100+, including 41 U.S. states
  • Available Crypto: BTC, ETH, LINK, XLM, + 12 more
  • Trading Fees: No commission, spread fees up to 5%
  • Withdrawal Fees: None
  • Funding Options: ACH, wire transfer, and debit card

Pros

  • Lets you copy the trades of other features
  • Access to a trading-focused social platform
  • Dedicated U.S.-based exchange
  • No commission fees

Cons

  • Limited crypto selection
  • Not available in all U.S. states

In A Nutshell

  • Minimum Deposit: $50 for U.S. traders
  • Trading Fees: Varies from 0.75% to 5.00%
  • Promotion: None

on eToro’s website

Things to Consider in a Coinbase Alternative

These days, there are dozens of Coinbase alternatives available. So picking just one exchange for your trading needs can be challenging. Here are some things to consider in a Coinbase alternative to help you decide which platform is best for you.

Reputation & Reliability

The reputation and reliability of your exchange are always of the utmost importance. That’s because any exchange worth investing with should be reputable enough to be trusted with your money.

Additionally, a quality crypto exchange needs to be reliable. This means that an exchange must function during periods of high volatility. Otherwise, you might not be able to place orders when it matters most.

Availability

Due to various regulations, not all crypto exchanges can operate in every country. As a result, determining whether a given exchange offers services in your country of residence is essential. 

Keep in mind that while many exchanges claim to operate in hundreds of countries, they might limit their services in certain locations for regulatory reasons. Always double-check that the exchange you want to trade with offers the features you want in your region before you open an account.

Security Features

Security is always a concern when trading crypto. Therefore, you should take a close look at the security features that a given exchange has before investing.

Important features to look out for include high-grade encryption, two-factor authentication, and address whitelisting. If an exchange also offers a hosted hot wallet, you’ll want to see if they have digital asset insurance and if they keep client funds in cold storage units for added security.

Liquidity

In an exchange, liquidity can be defined as how easy it is to convert one asset (such as fiat currencies) into another asset (such as Bitcoin) without negative effects on the asset’s price. Highly liquid exchanges allow large amounts of assets to be exchanged without destabilizing the market.

The easiest way to assess the liquidity of an exchange is to look at its daily trading volume. The higher an exchange’s daily trading volume, the more liquid it is. That’s because exchanges with high trading volumes are less likely to see major price changes as a result of a large trade.

Cryptocurrencies Supported

Although there are thousands of cryptocurrencies out there, every exchange supports only a select few tokens. As an investor, it’s important that an exchange supports your preferred cryptocurrencies. Otherwise, you won’t get much use out of the platform.

Note that many exchanges offer certain cryptocurrencies in some countries, but not others. Always verify that the crypto you want to trade is available in your region before opening an account.

Fees & Commissions

Crypto exchanges are in the business of making money, and they do so by charging fees. The most obvious fees you’ll find are fixed-rate or percentage-based trading fees.

Other fees to pay attention to include withdrawal and deposit fees. Some companies also hide trading fees in the spread price of a currency, which can mask the true cost of the exchange. Carefully read each firm’s fee schedule before trading so you know what you’re signing up for.

Ease of Use

Trading crypto can seem daunting to new investors. As a result, many exchanges now offer simplified interfaces for new traders. However, simplified platforms often don’t provide the same level of charting tools and analysis that you can find on more powerful exchanges.

The reality is that there’s no one perfect exchange interface for all investors. If you’re new to crypto, a straightforward platform might be best. Meanwhile, more experienced traders might prefer a more complex exchange and the performance that such a platform can offer.

Deposit & Withdrawal Limits

Most crypto exchanges have deposit and withdrawal limits for a given period. These limits vary widely between exchanges. So research any limits before trading so that they don’t negatively affect your investing experience.

Final Thoughts

Coinbase is a user-friendly crypto exchange, but it’s not for everyone. There are plenty of superb Coinbase alternatives out there, each of which offers unique features for investors. While no one exchange is best for all traders, we hope that this article helped you find a crypto exchange that’s suitable for your financial goals.

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