Looking to make the switch from Coinbase? Some of the best Coinbase alternatives are Kraken and eToro.
With the rise of cryptocurrency trading, Coinbase has been one of the most popular platforms for buying and selling digital assets. Coinbase offers a great user experience, especially for beginners. However, fees on Coinbase can get expensive, and this can lead investors to look toward the best Coinbase alternatives. Whether you're looking for lower fees, a wider range of supported cryptocurrencies or better customer service, there are several alternatives that may better suit your needs. Check out Benzinga's list of the top alternatives to Coinbase today.
Quick Look: Best Coinbase Alternatives
- Best for Copy Trading: eToro
- Best for Simplicity: Robinhood
- Most Variety and Functionality: Uphold
- Best Crypto IRA: iTrustCapital
- Best for Crypto Futures Traders: Kraken
- Best For Improving Your Trading: Public.com
- Best DeFi Exchange: Crypto.com
- Best for High Spending Limits: Coinmama
- Best for Active Traders: Webull
- Best for High Variety and BSC Tokens: Binance
The Best Alternatives to Coinbase
Ready to start trading? Begin by checking out one of our favorite Coinbase alternatives and open an account.
1. Best for Copy Trading: eToro
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro is a cryptocurrency broker that offers access to more than 30 of the world’s most popular cryptocurrencies and a few unique education and usability tools. Traders can begin buying and selling both major cryptocurrencies (like Bitcoin and Ethereum) as well as smaller names (like Tron Coin and Stellar Lumens) in as little as 10 minutes.
eToro’s unique CopyTrader feature allows new investors to “copy” the buy and sell orders of professional investors, while the company’s new eToro Club feature provides investors with a range of additional education tools and resources. Though eToro doesn’t offer the widest possible range of cryptocurrencies, it remains an easy and usable platform for beginners and experienced users.
Pros
- Copy Trading makes it far simpler for newer traders to learn the markets and what to do next
- You can get started quickly and enjoy very low minimums so that you can trade at your own pace
Cons
- eToro can be overwhelming or confusing for newer traders or those who only intend to invest in a limited number of assets
2. Best for Simplicity: Robinhood
Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited in the crypto-sphere, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform.
Robinhood’s biggest strength is an easy-to-use, convenient mobile platform. You can quickly access your tax documents and account statements through the app and you can create an account and begin funding it in as little as 10 minutes. Placing a trade is also equally simple. Brief explanations of every buy and sell order beside each option help you learn — it’s a great feature for beginners. It's also perfect for stock-focused traders who want to start dabbling in cryptocurrency trading.
Though Robinhood does require a $2,000 minimum balance to access its Robinhood Gold features, there’s a $0 minimum required balance for standard accounts. Combined with the broker’s new fractional share feature, Robinhood is a great option for new traders who only have a small amount of money to invest.
Pros
- This platform is designed to be simple and easy to manage
- You can invest with lower minimums or step up to higher levels of investment depending on your needs
Cons
- There have been instances when Robinhood has shut down trading or changed its rules rather quickly
3. Most Functionality and Variety: Uphold
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.
Uphold is easily one of the most underrated crypto trading platforms out there right now. It offers a massive variety of over 200 different digital currencies including most of the largest cryptos along with a long list of altcoins. It's just as easy to use as Coinbase if not easier. Uphold, like Coinbase, offers a fantastic staking service too. In fact, it offers a wider range of supported cryptos to stake with even higher annual percentage yields on most offerings than Coinbase.
This is one of the largest crypto exchange promos on the market right now. Uphold's Resources section of its website is a great tool to learn the crypto fundamentals and more too.
*Terms Apply. Crypto assets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
Pros
- The range of crypto tokens is more than enough for most investors
- You can educate yourself on this platform before you ever invest
Cons
- Remember that you cannot be sure if you can trade in the tokens you prefer, and you should check on the platform and its offerings before you sign up
4. Best Crypto IRA: iTrustCapital
iTrustCapital offers both digital assets and VaultChain Precious Metals inside your IRA, which gives you the ability to buy or sell tax-free 24/7. Buying digital assets or precious metals can be difficult by itself and it can be much harder inside your IRA. You're able to place trades through iTrust's interface and execute through precious metals leader Kitco.
Cryptocurrency assets are stored with Curv, a multi-authorization cryptocurrency wallet management solution enabling financial institutions to safe-keep your funds with unparalleled security.
Trades can be locked in 24/7 and will settle within one business day.
Pros
- You store your assets with Curv, giving you more security and functionality
- You can diversify your retirement assets
Cons
- A crypto IRA may not be the best retirement plan for everyone
- Not all investors will want to use Curv for storage
5. Best for High Spending Limits and Security: Kraken
Kraken is another large-scale cryptocurrency trading platform and hosts millions of users worldwide. The cryptocurrency exchange has been operating for years, gaining the trust of its users through its industry-leading security practices.
As such, Kraken is an ideal exchange for large transfers. Kraken supports large spending limits on a variety of cryptocurrencies, including many new tokens that other exchanges have yet to support, such as Dymension (DYM) and Celestia (TIA).
Pros
- Connecting to your personal crypto wallet is rather convenient
- International investors can easily use this platform to manage their portfolios
Cons
- Though the platform is available worldwide, there’s no guarantee that your specific country is supported. Check Kraken's website to make sure your location is available.
6. Best for Improving Your Trading: Public.com
Public.com is a fantastic trading platform that strives to help its users become better investors. It provides all different kinds of information to help you make the right trading decisions for you. It offers all kinds of different assets including cryptos, stocks, ETFs, art and collectibles. With a Public Premium membership you can access tons of advanced data, custom company metrics, and expert analyst insights. Public is also a pioneer in social and community trading. You can access a massive community for millions of investors, creators and analysts to find the best investments.
Pros
- You can save and invest with Public.com, making it far more versatile than many crypto exchanges
- Social trading options on this platform help beginners learn without overwhelming them
Cons
- Though the platform offers diversification options, it may not support the specific assets you’re looking for
7. Best Exchange for DeFi: Crypto.com
Crypto.com is a cryptocurrency platform that allows you to store, transfer and exchange more than 100 cryptocurrencies. It also offers its Crypto.com Visa Card, so you can spend your crypto anywhere Visa is accepted and earn up to 8% back.
If your main problem with Coinbase is its fees, Crypto.com may be the best alternative as it has lower fees at every level of trade size.
Crypto.com can get you verified in less than 5 minutes, and it's free to open an account. The platform offers 24/7 customer support.
Beyond the Visa card, Crypto.com products include its app, Crypto Pay, Crypto Earn, Crypto Credit and the Crypto.com Exchange and DeFi Wallet. Crypto.com wants to accelerate the world's transition to cryptocurrency, and its wide range of products can help you start your own process.
Pros
- The level of customer support on Crypto.com is extremely high, outpacing many competitors
- The card options through Crypto.com are robust and beneficial for individuals and businesses
Cons
- The range of cryptocurrencies on this platform may not be as vast as you would have expected
8. Best for High Spending Limits: Coinmama
Coinmama is a top crypto exchange in Germany known for its user-friendly platform and global accessibility. It aims to promote cryptocurrency adoption worldwide and allows users from 188 countries to easily buy major cryptocurrencies.
Coinmama offers a quick and easy account set-up process, allowing users to start investing in cryptocurrencies in minutes. They send crypto directly to the user's personal wallet for added security. It is recommended to keep cryptos in a personal wallet to protect against hacks and other risks.
Pros
- Easy and user-friendly platform
- Supports a wide range of cryptocurrencies
- Offers various payment options, including credit/debit cards
Cons
- Higher fees compared to other exchanges
- Limited availability in certain countries
9. Best for Active Traders: Webull
Webull caters to intermediate and experienced self-directed investors and active traders. Its commission-free structure is for short-term and active traders who would save a considerable amount on commissions compared to other online brokers. It is also one of the best brokers that also offers cryptocurrency trading.
The Webull platform’s intuitive features and design could be considered advanced for novice traders, but the platform can still be learned.
Webull offers a series of trading courses and a trading simulator or demo trading account with real-time data and advanced charting capabilities for U.S.-listed stocks. These features can suit beginning traders who want to learn more about the market and develop a trading plan.
Pros
- You can use this platform in any situation, even when you’re managing client portfolios
- There are many opportunities to learn, making it easier for you to invest, grow your portfolio and generate income
Cons
- Webull may not have the functionality that some professionals are looking for
10. Best for High Variety and BSC Tokens: Binance
Binance Smart Chain, the Ethereum competitor launched by the largest exchange in the world, Binance, is getting more and more popular. This is bcoming a problem for Coinbase because it doesn't offer the native token of BSC, Binance Coin which is needed to pay transaction fees on the network.
Binance.US is technically a separate company from the massive international Binance exchange but it offers many of the same cryptocurrencies. It supports more cryptos than almost any other exchange available to U.S. users and that's why its perfect for anyone looking to invest in many smaller altcoins.
Binance.US is available to most U.S. citizens but is unfortunately currently unavailable to residents of Hawaii, Idaho, New York, Texas, and Vermont.
Pros
- Binance is a well-known platform that offers a bit of confidence that many traders are looking for
- You can also invest in native coins that serve to further diversify your portfolio
Cons
- There are some limitation on the platform that could serve to exclude certain investors
Why (Or Why Not) Use Coinbase?
Still learning how to trade cryptocurrency? Coinbase is a great place to begin. But is it really the best option for you? Understanding the pros and cons of using Coinbase can help you make an informed decision before diving into the world of digital currencies.
Pros of Coinbase
- Reputation: Coinbase is the most often-recommended platform for users getting started with cryptocurrency trading because it’s one of the easiest and most reliable cryptocurrency exchanges in the world.
- Ease of use: Beginning investors may like Coinbase’s intuitive, easy-to-understand buying options. You can buy Bitcoin and other cryptocurrencies without understanding much about the coins themselves. You can even buy Bitcoin with your credit card (though this option carries an additional fee). Coinbase might suit your needs if you’re a casual cryptocurrency investor who wants to hold a popular coin for the novelty.
- Portfolio tracking: Coinbase allows you to link your bank account, transfer money, and buy and sell cryptocurrencies, making it a great option for beginners looking to trade and monitor their investments.
Cons of Coinbase
- Higher fees: Coinbase has some of the highest fees that you’ll see when you buy Bitcoin. The platform also charges slightly higher fees than some exchanges.
- Extensive anti-fraud features: You have to wait a full three days before you can move your currency to an exterior cryptocurrency wallet. You must also wait multiple days for your funds to clear when you sell funds and transfer the money to your bank account. This feature makes it unsuitable for day traders or anyone who places a high emphasis on security and anonymity.
- Limited crypto selection: Coinbase support over 250 cryptocurrencies. However, you’ll be limited to a few of the most popular coins, like Bitcoin and Ethereum. Though Coinbase makes an effort to expand into other coins, the most popular cryptocurrency exchange is still one of the most disappointing in terms of variety and diversity.
Is Coinbase a good place for cryptocurrency trading? The answer to that depends on your needs. If you’re a casual investor who just wants to own cryptocurrency for the novelty, you’ll love Coinbase’s focus on simplicity. More experienced investors will probably want to consider one of the Coinbase alternatives featured below.
What to Look for in a Coinbase Alternative
Don’t think Coinbase is right for you? No worries! There are plenty of safe, secure Coinbase alternatives. Here are a few features you should look for when you consider which of these Coinbase alternatives is best for you.
- Altcoin support: Before signing up for a cryptocurrency exchange, make sure to check if they support the specific coins you are interested in trading. It is important to choose an exchange that offers a variety of coins beyond the most popular coins (like Bitcoin, Ethereum and Cardano), as this will give you more options for trading different assets.
- A platform you understand: The best cryptocurrency exchanges have user-friendly interfaces and provide clear explanations and tutorials on how to use their tools and features. You can also check out YouTube reviews to get a general idea of how you can use the exchange. Only trust exchanges that clearly demonstrate how to buy currencies, how to transfer them to an exterior wallet and where you can find your wallet key.
- Operation in your country: The legality of Bitcoin and other cryptocurrencies is debated due to their decentralized nature, making them difficult for governments to tax. Some exchanges offer tools to help users track their transactions for tax purposes.
Certain exchanges and coins are banned in different parts of the world. Some of the best Coinbase alternatives such as Binance are not available in the U.S. and other large countries. Luckily, Binance opened up a (technically separate) great exchange for U.S. users, Binance.US. The legality of cryptocurrency exchanges is also debated at the state level and not every exchange is able to operate in every state. While most states allow similar crypto services, New York has special legislation that doesn't allow certain exchanges, like FTX, to operate in its jurisdiction.
Choosing the Right Coinbase Alternative for You
With so many options on the market, you can find the optimal cryptocurrency exchange to use based on your needs. For inexpensive trading fees, eToro, Crypto.com and Gemini are great Coinbase alternatives. If you're looking for extra features to grow as a trader, Webull and Gemini are solid choices. All the cryptocurrency platforms on this list are regarded as extremely secure, but they secure their platforms in different ways. For best in class security, we recommend Robinhood and Uphold.
This is especially true if you branch out from Bitcoin into smaller, lesser-known coins. Monitor your portfolio, use your trading fundamentals, invest conservatively and hold your coins in a secure exchange or exterior wallet to use the volatility of the market to make some massive gains.
Frequently Asked Questions
Who is Coinbase biggest competitor?
Coinbase’s biggest competitor is likely Binance, as they are both popular cryptocurrency exchange platforms with similar services and offerings.
What is the safest crypto exchange?
The safety of a crypto exchange can vary, but some of the most well-known and reputable exchanges that prioritize security measures include Coinbase, Binance, and Kraken. It’s always important to do thorough research and choose an exchange with a strong track record of security measures and customer protection.
Whats a better wallet than Coinbase wallet?
A better wallet than Coinbase wallet is Exodus. Exodus wallet is a free software wallet that helps investors store, earn interest, and use their digital assets in practical ways. It’s available on both desktop and mobile, and Exodus has several apps integrated in its wallet that makes using your digital assets easy. The wallet supports major cryptocurrencies like Bitcoin, Ethereum and Dogecoin, as well as 150+ other digital assets. Unlike most software wallets, Exodus also allows investors to buy and sell cryptocurrency directly from their wallet.
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About Sarah Horvath
Sarah is an expert in the insurance, investing for retirement and cryptocurrency space.