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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.

7 Best Coinbase Alternatives for 2023

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

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.

1. Kraken: Best for Active Traders

Kraken Homepage
Source: Kraken

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

2. Binance.US: Best For Low Fees 

Binance.US homepage
Source: Binance.US

Binance is the “big dog” in terms of centralized crypto exchanges. Indeed, due to Binance’s massive size (and its undisclosed headquarters), many American lawmakers haven’t been keen to welcome it into the US market. To address these concerns, the Binance team created the subsidiary “Binance.US” which offers a compliant crypto trading experience to American customers. 

Based in California, Binance.US has many of the same features that have become associated with the standard Binance exchange. While there aren’t as many altcoins on Binance.US versus Binance, traders can take advantage of Binance’s famous low trading fees. In fact, Binance.US recently removed all commission fees for BTC and ETH trading. Plus, anyone who uses BNB to make trades will enjoy a 25% discount. 

Binance.US may not be the most feature-rich exchange, but it has become popular with people interested in the lowest trading fees. Plus, since Binance.US is headquartered in the USA, it meets high standards for compliance. You must submit KYC to use Binance.US, but you will enjoy FDIC protection on USD and greater federal oversight.

Main Features

  • Supported Countries: Every US state except Hawaii, New York, Texas, and Vermont
  • Available Crypto: BTC, ETH, BNB, DOGE, and over 110 other cryptos
  • Trading Fees: Tiered trading fee that ranges from 0% to a max of 0.45% per trade
  • Withdrawal Fees: Free ACH withdrawals, $10 – $15 fee for wire withdrawal, and varying fees for crypto withdrawals
  • Funding Options: ACH, domestic wires, Apple Pay, debit cards, and crypto deposits

Pros

  • Offers commission-free trading on BTC and ETH
  • Based in the USA and meets high regulatory standards
  • FDIC insurance on USD deposits
  • Wide selection of altcoins

Cons

  • Poorly-reviewed app
  • Desktop UI/UX is more tailored for advanced traders
  • Still not available in every US state

In A Nutshell

  • Minimum Deposit: $0 ($10 to trade)
  • Fees: 0% to 3.75% (depending on the payment method)
  • Promotion: None

on Binance.US’ website

3. Bisq: Best Decentralized Exchange

Bisq homepage
Source: Bisq

Bisq may be the best crypto exchange for people who value privacy. The Bisq protocol is a decentralized software that connects crypto buyers and sellers. Since Bisq isn’t a formal company, it doesn’t hold any crypto on its platform. Instead, Bisq helps connect buyers and sellers for peer-to-peer transfers with its decentralized wallet. 

While all of Bisq’s trades charge fees in Bitcoin or its proprietary BSQ token, you can use this site to exchange value between hundreds of cryptos. Plus, anyone with access to Bisq has plenty of funding options for sending fiat currencies. From postal transfers and ACH to SEPA and Zelle, there are many ways to get funds on your Bisq account.  

Although people who believe in decentralization will appreciate Bisq’s open-source code and decentralized governance, this isn’t the most beginner-friendly platform. You will need to spend some time reviewing Bisq’s features and its latest DAO proposals. Also, since Bisq doesn’t hold any assets on its site, it’s not the most liquid exchange for crypto trades. Still, those who prefer privacy over convenience may be willing to put up with these sacrifices. 

Main Features

  • Supported Countries: Any country with access to Bisq software could use P2P trades
  • Available Crypto: 120+ cryptocurrencies and all fiat currencies
  • Trading Fees: Maker fee of 0.0012 BTC; Taker fee of 0.0088 BTC
  • Withdrawal Fees: Varies depending on proposals, but typically 0.0003 BTC – 0.0005 BTC
  • Funding Options: Dozens of options, including ACH, SEPA, Zelle, and Western Union

Pros

  • No KYC requirements for enhanced anonymity
  • Accepts many payment methods and currencies 
  • Runs on top of the privacy-focused Tor network
  • Has a DAO for decentralized governance

Cons

  • No insurance protection
  • Complicated layout for crypto novices
  • Doesn’t have the best liquidity
  • Highly experimental technology and code 

In A Nutshell

  • Account Minimum: Limited to 0.01 BTC until verified by a trusted peer user
  • Fees: Pay in BTC or BSQ cryptocurrency (fees vary)
  • Promotion: None

on Bisq’s website

4. Crypto.com: Best DeFi Exchange

Crypto.com homepage
Source: Crypto.com

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

5. eToro: Best for Copy Trading

eToro homepage
Source: eToro

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: $10 for U.S. traders
  • Trading Fees: 1% for crypto; $0 for ETFs and stocks
  • Promotion: None

on eToro’s website

6. KuCoin: Best For Altcoins 

KuCoin homepage
Source: KuCoin

KuCoin is a prominent crypto exchange that opened in 2017. Based on the island of Seychelles, KuCoin has gained a reputation for its wide assortment of altcoins, low trading fees, and less-restrictive KYC requirements. Indeed, Binance and KuCoin often end up on lists of the “best crypto exchanges for altcoins.” Currently, KuCoin has approximately 600 digital coins and tokens to choose from. 

Anyone can start trading on KuCoin by submitting their email address. However, you will need to submit more KYC details to take full advantage of KuCoin’s offerings. Also, users should remember that KuCoin isn’t formally recognized in many nations, including the USA. Since KuCoin is based on a tiny island, many countries have raised concerns over its operations. 

It’s also worth noting that KuCoin is more tailored for advanced crypto traders. Not only are the trading screens on KuCoin highly technical, there aren’t easy ways to transfer your funds directly to a bank account. Most people who use KuCoin withdraw their crypto to a private wallet or another exchange account. On the positive side, most crypto trading fees on KuCoin are under 0.1%, and this exchange has a wealth of derivatives. 

Main Features

  • Supported Countries: Available in roughly 200 countries (however, not formally licensed in the USA)
  • Available Crypto: BTC, ETH, DOGE, SOL, SHIB, and roughly 600 other tokens
  • Trading Fees: Highest maker and taker fees on KuCoin are 0.1% for trades of less than $50 within a month
  • Withdrawal Fees: Every crypto has different withdrawal fees
  • Funding Options: Crypto transfers or buy crypto on KuCoin with a credit or debit card

Pros

  • Has the widest selection of cryptocurrencies
  • Numerous technical indicators, order types, and analysis tools
  • Offers advanced trading products like crypto derivatives
  • Low trading fees

Cons

  • Not as well regulated as other centralized exchanges
  • Technical charts and screen layouts aren’t ideal for beginners 
  • You can’t withdraw fiat directly to a bank account

In A Nutshell

  • Minimum Deposit: $0
  • Fees: Vary
  • Promotions: None

on Kucoin’s website

7. iTrustCapital: Best Crypto IRA

iTrustCapital Screenshot
Source: iTrustCapital

If you want to stash some Satoshis in your retirement account, then iTrustCapital may be the platform for you. Headquartered in Irvine, this IRA site allows Americans to invest their IRA account into roughly 30 cryptocurrencies. iTrustCapital also grants account holders access to silver and gold if they want to diversify away from digital assets.

Since iTrustCapital focuses on crypto IRAs, you won’t be able to use these funds in DeFi or play-to-earn games. This service is only a good idea for those who believe crypto will increase in value by the time they retire. You also have to trust in iTrustCapital’s custody standards since you can’t withdraw crypto on this platform. 

On the positive side, iTrustCapital has strong partnerships with Coinbase Custody and FireBlocks. Clients also enjoy the many tax advantages of using their IRA to invest in digital assets. Lastly, with a 1% flat fee on crypto trades, this isn’t the most expensive site to put your money into digital assets.

Main Features

  • Supported Countries: Only available in the USA 
  • Available Crypto: BTC, ETH, DOT, LINK, and roughly 20 others; Also includes precious metals
  • Trading Fees: 1% for crypto trades; $50 per ounce of gold; $2.50 per ounce of silver
  • Withdrawal Fees: Depends on your IRA type (e.g., Roth, Traditional, or SEP)
  • Funding Options: Rollover existing IRA or fund a new account with bank wires or checks

Pros

  • Reduces tax burden on crypto trades
  • Transparent and low fee structure
  • Offers access to precious metals and digital assets
  • Simple-to-use trading interface

Cons

  • You can’t self-custody your crypto or use it in Web3
  • Doesn’t accept all employer retirement plans
  • No Android app

In A Nutshell

  • Account Minimum: $1,000
  • Fees: 1% per trade (*other fees apply)
  • Promotion: Receive a $100 reward when funding an account

on iTrustCapital’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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