Best Coinbase Alternatives

Ready to switch from Coinbase? Discover the top Coinbase alternatives that offer competitive fees, diverse coin offerings, and excellent user experience. Get started with Kraken or eToro.

Coinbase has gained immense popularity as a platform for buying and selling digital assets primarily due to its user-friendly interface, strong security protocols, and extensive selection of supported cryptocurrencies. This makes it accessible to both beginners and experienced traders. However, users often find that the platform's fees can be quite high, prompting many to seek out alternatives that may offer more cost-effective trading options. Factors such as lower transaction fees, a broader array of cryptocurrencies, and improved customer service play crucial roles in determining which platform might be a better fit for individual investors. Check out Benzinga's list of the top alternatives to Coinbase today.

Quick Look at the 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

Top 10 Best Alternatives to Coinbase

Ready to start trading crypto? Begin by checking out one of the top Coinbase alternatives and open an account.

1. Best for Copy Trading: eToro

eToro is a cryptocurrency broker that serves as an appealing alternative to Coinbase  for users looking to trade cryptocurrencies with a social trading component. Unlike Coinbase, which primarily focuses on the buying and selling of digital currencies, eToro offers a unique platform that integrates social networking with its CopyTrader feature. This allows new investors to “copy” the buy and sell orders of professional investors in real-time. This attribute is particularly beneficial for novice traders who may lack the experience or confidence to make independent trading decisions. Additionally, eToro provides a demo account that enables users to practice trading with virtual funds, thereby reducing the risk associated with entering the crypto market.

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. Recently, the company has reached a settlement agreement with the Securities and Exchange Commission (SEC) that eToro users in the United States can only buy new crypto positions in Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH).

Why We Picked It: With its user-friendly interface, diverse asset offerings, social trading features, and commitment to security, eToro stands out as one of the best platforms for copy trading. Whether you're new to trading or looking to enhance your skills, eToro provides a comprehensive and effective solution for copy trading.

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 mobile 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.

Why We Picked It: Robinhood is a great option for those looking for a simple and cost-effective way to start investing. With its simple user interface, commission-free trading, and ability to buy fractional shares, Robinhood makes it easy for beginners to dip their toes into the world of investing without feeling overwhelmed.

3. Most Functionality and Variety: Uphold

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 cryptocurrency 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.

Why We Picked It: The range of crypto tokens offered by Uphold combined with its user-friendly interface and transparent fee structure make it a popular choice for investors looking to dive into the world of cryptocurrency. Whether you are a seasoned investor or just starting out, Uphold provides a reliable platform for exploring and investing in the growing world of cryptocurrency.

4. Best Crypto IRA: iTrustCapital

iTrustCapital offers both digital assets and VaultChain Precious Metals inside your crypto 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.

Why We Picked It: iTrustCapital allows investors to invest in crypto for their retirement savings. With its range of supported cryptocurrencies, tax advantages and low fees, iTrustCapital is worth considering.

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).

Why We Picked It: With a strong emphasis on user safety and account security, Kraken provides a reliable and secure platform for traders and investors looking to trade cryptocurrency with peace of mind. Plus, their customer support team is available 24/7 to help with any questions or concerns you may have.

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.

Why We Picked It: Public.com offers a wealth of features and resources to help you improve your trading skills. With its social investing community, fractional shares, educational resources and commitment to transparency, Public.com is a top choice for traders looking to take their skills to the next level.

7. Best Exchange for DeFi: Crypto.com

Crypto.com is a cryptocurrency platform that allows you to store, transfer and exchange more than 300 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 mobile 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.

Why We Picked It: Crypto.com allows users to participate in decentralized finance protocols directly from the platform. This includes features such as decentralized lending and borrowing, staking, and yield farming. By offering these tools, Crypto.com enables users to earn passive income on their cryptocurrency holdings without the need for a traditional bank or financial institution.

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 190 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.

Why We Picked It: While Coinmama does have higher fees compared to some other exchanges, the convenience of high spending limits and fast transactions may outweigh the slightly higher costs for many users.

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.

Why We Picked It: With its zero-commission trading, advanced charting tools, real-time market data, extended hours trading, and paper trading feature, Webull has everything that active traders need to succeed in the fast-paced world of trading.

10. Best for High Variety and BSC Tokens: Binance

Binance Smart Chain (BSC), the Ethereum competitor launched by the largest cryptocurrency exchange in the world, Binance, is getting more and more popular. This is becoming 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 cryptocurrency 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 Alaska, Connecticut, Guam, Maine, New York, Texas, and Vermont.

Why We Picked It: With over 100 different cryptocurrencies listed on the platform, traders have access to a diverse range of options to build their portfolios. This high variety allows traders to explore new investment opportunities and diversify their holdings beyond just the mainstream cryptocurrencies like Bitcoin and Ethereum.

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 investors who prefer day trading or anyone who places a high emphasis on security and anonymity.
• Limited crypto selection: Coinbase support over 200 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 crypto 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 Best 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