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Best Coinbase Alternatives

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Fast, secure and reliable, cryptocurrency is the untouched wild west of finance. Coinbase has long been the standard for cryptocurrency enthusiasts getting started with Bitcoin and other major cryptocurrencies.

Now, there are a number of Coinbase alternatives that can hold your money and allow you to trade new coins quickly and affordably. Today, we’ll take a look at some of the most popular Coinbase alternatives, as well as give you some tips for finding the next best cryptocurrency purchase platform. 

Best Coinbase Alternatives:

TradeStation
Commissions
$0
Account Min
$0
Get started securely through TradeStation’s website
Commissions
$0
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$0
1 Minute Review

TradeStation is for advanced traders who need a comprehensive platform. The brokerage offers an impressive range of investable assets as frequent and professional traders appreciate its wide range of analysis tools. TradeStation’s app is also equally effective, offering full platform capabilities.

Best For
  • Advanced traders
  • Options and futures traders
  • Active stock traders
Pros
  • Comprehensive trading platform and professional-grade tools
  • Wide range of tradable securities
  • Fully-operational mobile app
Cons
  • Confusing pricing structure to leave new traders with a weak understanding of what they pay
  • Cluttered layout to make navigating TradeStation’s platform more difficult than it should be
TD Ameritrade
Commissions
$0 $6.95 for OTC Stocks
Account Min
$0
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Commissions
$0 $6.95 for OTC Stocks
Account Min
$0
1 Minute Review

This publicly listed discount broker, which is in existence for over four decades, is service-intensive, offering intuitive and powerful investment tools. Especially, with equity investing, a flat fee is charged, with the firm claiming that it charges no trade minimum, no data fees, and no platform fees. Though it is pricier than many other discount brokers, what tilts the scales in its favor is its well-rounded service offerings and the quality and value it offers its clients.

Best For
  • Novice investors
  • Retirement savers
  • Day traders
Pros
  • World-class trading platforms
  • Detailed research reports and Education Center
  • Assets ranging from stocks and ETFs to derivatives like futures and options
Cons
  • Thinkorswim can be overwhelming to inexperienced traders
  • Derivatives trading more costly than some competitors
  • Expensive margin rates
Coinbase
Commissions
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$0
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$0
1 Minute Review

Best For
  • All levels of traders
Pros
Cons
Interactive Brokers
Commissions
$0.005 per share minimum $1 and maximum 0.5% of trade value; volume discount available
Account Min
$0
Get started securely through Interactive Brokers’s website
Commissions
$0.005 per share minimum $1 and maximum 0.5% of trade value; volume discount available
Account Min
$0
1 Minute Review

Interactive Brokers is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. You can buy assets from all around the world from the comfort of your home or office with access to over 135 global markets. Options, futures, forex and fund trading are also available, and most traders won’t pay a commission on any purchase or sale.  

IBKR is geared primarily toward experienced traders and investors but now with the availability of free trades with IBKR Lite, casual traders can also acclimate to IBKR’s offerings.

Best For
  • Access to foreign markets
  • Detailed mobile app that makes trading simple
  • Wide range of available account types and tradable assets
Pros
  • Comprehensive, quick desktop platform
  • Mobile app mirrors full capabilities of desktop version
  • Access to massive range of tradable assets
  • Low margin rates
  • Easy-to-use and enhanced screening options are better than ever
Cons
  • Beginner investors might prefer a broker that offers a bit more hand-holding and educational resources
Commissions
$0
Account Min
$0
Compare Brokers securely through eTrade’s website
Commissions
$0
Account Min
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1 Minute Review

E*TRADE is an online discount trading house that offers brokerage and banking services to individuals and businesses. One of the first brokers to embrace online trading, E*TRADE not only survived both the dot-com bubble and Recession — it thrived. You can choose from two different platforms (one basic, one advanced). E*TRADE is a suitable broker for traders of most skill levels, whether you want to buy mutual funds and hold them for decades or dabble in options swing trading. E*TRADE offers a library of research and education materials to help you out.

Best For
  • Active traders
  • Derivatives traders
  • Retirement savers
Pros
  • Sophisticated trading platforms
  • Wide range of tradable assets
  • Exceptional customer service
Cons
  • Limited currency trading
  • Higher margin rates than competitors
  • No paper trading on its standard platform

Why (Or Why Not) Use Coinbase?

Still learning how to trade cryptocurrency? Coinbase is a great place to begin. Coinbase is the most often-recommended website for users getting started with cryptocurrency trading because it’s one of the easiest and most reliable cryptocurrency exchanges in the world.

Coinbase allows you to link your bank account, transfer money directly and buy and sell cryptocurrencies. This makes it an ideal choice for traders still learning about cryptocurrencies and who want to track their portfolios over time. Coinbase also has some of the highest fees that you’ll see when you buy Bitcoin. 

Coinbase charges a flat fee of $0.99 if the transaction value is less than $10, $1.49 if the transaction value is more than $10 and less than $25 and $2.99 if the transaction is more than $50 and less than $200. Beyond that, you’ll pay a fee worth 1.49% of the total transaction value. This makes Coinbase a less appealing option if you want to buy a large amount of cryptocurrency.

Beginning investors may like Coinbase’s intuitive, easy-to-understand buying options. Coinbase is popular is because you can buy and sell 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. 

Despite its ease of use, Coinbase is far from the perfect place to buy Bitcoin. More involved enthusiasts may quickly become frustrated with Coinbase’s extensive anti-fraud features. You have to wait a full 3 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 Coinbase unsuitable for day traders or anyone who places a high emphasis on security and anonymity.

Coinbase’s cryptocurrency options are also disappointing. 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 Coinbase competitors. 

Plenty of Supported Currencies

Bitcoin is great and Litecoin has been on the rise — but if you’re a serious cryptocurrency investor, you’re probably looking for the next great coin. Before you sign up for an alternative digital currency exchange, look for a list of coin offerings.

The best exchanges go beyond the most popular coins (like Bitcoin, Ethereum and Ripple) and branch out into different coins with smaller market caps. It helps to have a good idea of which coins you want to trade beforehand so you can make sure that your exchange carries your currency of choice.

Don’t be afraid to research coin offerings before you choose an exchange — there’s no single exchange that carries every one of the thousands of coins you can buy and sell. 

A Platform You Understand

A cryptocurrency exchange won’t do you much good if you can’t figure out how to use it. Before you sign up with an exchange, look for an explanation of any tools and features it includes. You can also check out YouTube reviews and tutorials 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 a hotly contested topic, even 10 years after it gained mainstream recognition. Bitcoin and other cryptocurrency transactions are decentralized by nature, which makes them very difficult to track and tax.

Certain exchanges and coins are banned in different parts of the world. The legality of cryptocurrency exchanges is also debated at the state level and not every exchange is able to operate in every state. Look for a cryptocurrency exchange that offers service across the U.S. or in your country. 

The Best Alternatives to Coinbase

Ready to start trading? Begin by checking out one of our favorite Coinbase alternatives and open an account. 

1. Voyager

Voyager app
Voyager’s app packs a powerful punch for both beginning and advanced traders. 

Do you trade cryptocurrencies on the go? If so, you need a powerful yet secure app to keep your finger on the pulse of the constantly-changing cryptocurrency market. Voyager offers a convenient and advanced solution for frequent cryptocurrency traders who enjoy app-based trading.

Voyager features a large suite of some major names in crypto. Nineteen coins and counting means you’ll find more choices than Coinbase. Tracking, charting and managing your portfolio is easy with Voyager’s wide set of in-app tools.

Unfortunately, Voyager’s app is only available to residents of a few select states. You’ll need to be a resident of Arizona, California, Kentucky, Illinois, Massachusetts, Missouri, Montana, Pennsylvania, Washington or Wisconsin to open a Voyager account. Voyager plans to boost its operations to the international stage in 2019, so it’s possible that more states and territories will be added soon. 

Sign up with Voyager and get a free $25 bitcoin credit to your account.

2. SmartBotCoin

SmartBotCoin is one of the world’s most advanced cryptoasset trading platforms.  The terminal is a one-stop solution that allows beginners, as well as expert traders, to successfully navigate the crypto trading space.  The terminal connects to CoinBase Pro or Binance and allows for manual trading, automated trading, aggregated news and sentiment analysis.  One differentiator is their social leaderboard. Traders can share their portfolio – you can even sign up to mimic their trades.

Since SmartBotCoin is a trading platform rather than an exchange, you’ll need to connect to either your CoinBase Pro or Binance Account.  With the standard monthly $4 subscription, users receive access to the trading terminal, back-testing and automation.

For the $12.49 premium subscription, social trading features are included.  SmartBotCoin does not charge commissions on trades (the exchange that you are connected to will charge their standard percentage).  All coins available on your connected exchange will be available to trade on SmartBotCoin.

Try out SmartBotCoin and get a 15 day free trial

3. Kraken 

kraken app
Kraken offers traders access to tons of lesser-known coins, allowing you to explore the world beyond Bitcoin. 

Aside from Coinbase, Kraken is likely the second largest hub for Bitcoin trading in the world. But the platform doesn’t stop at Bitcoin — the cryptocurrency trading platform currently offers access to over 15 different currencies and continues to add new featured currencies.

From Monero to Augur, Kraken supports many smaller coins that Coinbase hasn’t yet added to its list of offerings. Kraken is based out of San Francisco and is available in most countries around the world. 

Kraken also offers some of the best security features in cryptocurrencies. With two-factor authentication, 24/7 customer support and multi-stage encryption, you can rest assured that your coins are safe in your Kraken account.

Kraken’s tiered fee schedule is also very reasonable — you’ll pay between 0.10% and 0.42% per month depending on how often you trade. Though Kraken doesn’t currently support crypto purchases made with credit cards, its intuitive platform, simple fee structure and nonstop customer support make it an ideal option for traders around the world. Crypto traders might seek a Kraken alternative due to their slow customer service, but the platform is still highly recommended and used. 

4. Coinmama

coinmama app
Coinmama’s easy-to-use platform makes it simple to buy the most popular cryptocurrencies. 

Coinmama is another large-scale cryptocurrency trading platform and hosts over 1.5 million users around the world. Coinmama operates in 190 countries and makes it one of the most appealing platforms for foreign investors. You can use any currency to buy coins on Coinmama, though prices are shown only in USD or EUR.

Coinmama features high spending limits and low fees, which makes it an equally appealing choice for both beginners and advanced traders. You can even use a credit card to buy Bitcoin or Ethereum on Coinmama’s platform.

Coinmama falls a bit short in the offerings department. Currently, you can only buy Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic and Cardano on Coinmama, which is fewer than on most other exchanges.

However, the company is making an effort to expand into more coins and it’s possible that more coin options will be added in the near future. Coinmama should be one of your first stops if you’re an international investor looking for a place to buy the most popular coins. 

5. Bitstamp

Bitstamp app
Though Bitstamp’s coin offerings are limited, its fees are unbeatable. 

Bitstamp is one of the oldest cryptocurrency exchanges on the internet and has run continuously since 2011. Like Coinbase, Bitstamp only offers a few of the most popular cryptocurrencies, including Bitcoin, Litecoin and Ethereum.

However, Bitstamp does offer a major advantage over Coinbase — there are no fees to deposit or withdraw coinage from your Bitstamp account.

Though you will pay a low fee when you buy or sell a cryptocurrency, you can transfer coins for free. This makes Bitstamp one of the most affordable ways to send money across currencies.

Bitstamp also offers a comprehensive mobile app and worldwide availability. With high-level security features and an incredibly affordable fee structure, Bitstamp offers a number of advantages over Coinbase. 

6. CEX.io

CEX.io app
Click. Enter your account information. See your cryptocurrency in your wallet. Buying coins is a snap when you use CEX.io. 

CEX.io is another popular international exchange, operating in almost every country. CEX.io’s commissions are competitive — you’ll pay between 0.10% and 0.41% per month in transaction fees depending on how much you buy or sell.

Transaction fees are also calculated using BTC instead of a set dollar amount, which can be beneficial for very large traders. CEX.io makes it incredibly simple to buy and sell currencies.

The exchange’s 3-step structure is very easy and mimics Coinbase’s intuitive system. You can even buy cryptocurrencies using a credit card or on margin. 

CEX.io’s exchange features some of the latest security features, including two-factor authentication and encryption. CEX.io’s offerings are limited to a few of the most popular coins. However, if you’re a beginning investor who loves the simplicity that Coinbase offers, you’ll enjoy CEX.io’s platform, too. 

Mastering the Cryptocurrency Market

Cryptocurrency trading has become more accepting and open to novice investors. Whether you choose Coinbase or another alternative trading platform, it’s important to remember that cryptocurrency is still a volatile and unpredictable market. Cryptocurrencies are unregulated and virtually untraceable, which means you can lose a large amount of money very quickly if the market takes a turn.

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. 

Want to learn more about trading cryptocurrency? Check out Benzinga’s guides to the best cryptocurrency brokers, the best crypto exchanges and the best bitcoin wallets.

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