Coinbase Alternative-Know more

Coinbase is one of the most popular trading platforms as it facilitates the trading of many digital assets with fiat, is favored by institutional clients, and offers a wide range of products. In it, you can bet on cryptocurrencies to win prizes, receive payments in cryptocurrencies for goods and services, investment and hold cryptocurrencies. Let’s read Coinbase Alternative.

Coinbase Alternative

However, there are alternatives to Coinbase that allow you to save on transaction fees, invest in stocks while investing in cryptocurrencies, automate orders, and buy through local payment channels or pay with cash. We have compiled a list of alternatives to Coinbase, they are Gemini, eToro, Binance, Robinhood, iTrustCapital, and many others. Below is a detailed overview of this alternative.

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Alternatives to Coinbase

Binance

If you are interested in altcoins, you may have heard of Binance. Binance presents you with more than 50 altcoins. This is in addition to the readily available customer support on the platform through an online contact form. Binance possesses similarities to coinbase Pro, one of which is the ability to trade crypto pairs. That notwithstanding, Coinbase Pro is equipped with a greater number of trading opportunities. 

Features

The payment methods it allows are Bank deposit or SWIFT bank transfer, direct credit or debit, through third parties such as Simplex or P2P trading.

0.1% trading fee for all transactions not using Binance coin or BNB

Two-factor authentication and biometric entry

Professional and lite mode for mobile app users

Gemini

Based on the claims of the developer, Gemini provides the simplicity and elegance of its platform where you are given the chance to create a portfolio on your own.

Because it is fully regulated, you can trade cryptocurrencies anywhere in the world with confidence. Ethereum, Bitcoin Cash, Bitcoin, and similar currencies can be traded on the Gemini platform.

As for fees, you can count on not having to pay anything for big transactions. The platform has commendable security. This platform is appropriate for individuals who are new to trading cryptocurrency and would not need complex features. 

Features

  • Refunds up to 3% in Bitcoin and other cryptocurrencies for Gemini credit card purchases.
  • Well-suited with SOC 2 Type 2 and SOC 1 Type 2.
  • US dollars kept in the account are entitled to FDIC insurance

eToro

eToro is promoted as a crypto exchange with a social trading concept. EToro users can view their partner’s portfolio through crypto tips.

If you are not confident in your crypto trading skills, you can copy top-ranked traders to the platform. With this feature, your crypto will be traded automatically when it is traded.

One good thing about it is that inexperienced traders who don’t want to risk losing their real funds can try trading a $100,000 virtual portfolio with the help of a demo account. While Coinbase offers crypto trading tutorials and tutorials, the virtual portfolio allows you to learn the process.

It will interest you to know that there are no hidden charges and no trading fees on the platform. When you purchase a cryptocurrency, eToro computes the spread for you and adjusts it when you sell your currency. eToro’s conversion fee is very low, only 0.1%.

Features

  • 17 cryptocurrencies at your disposal
  • Two-factor authentication
  • 0% commission
  • Cold storage of cryptocurrencies kept on the trading platform

Robin Hood

If you require the best of crypto and conventional finance, Robinhood is a platform you should try. As it allows you to trade cryptocurrencies and stocks side together.

Before we proceed with the features, we must let you know that the platform does not give you the chance to withdraw your coins, although the feature will be available very soon. This way, if you want to buy altcoins on other exchanges, you have to sell your cryptocurrency.

To start your journey, you just need to download the Robinhood app. This is where every of your investment will be managed. Interestingly, this platform allows you to use your funds to buy cryptocurrencies.

Features

  • Stock and crypto trading in one place.
  • 0% commission on trading.
  • Two-factor authentication, cold storage, and biometric input.
  • ACH Transfer

iTrustCapital

Have you ever thought about saving cryptocurrency for retirement? Well, iTrustCapital allows you to perform just that. The platform affords crypto IRA accounts.

An account can be created by funding a new account or by transferring a current IRA. Alternatively, you can browse your company’s current plans.

The interesting thing about these offers is that there are no taxes involved. It has a reasonable trading fee of 1%. Apart from trading fees, you also have to pay $29.95 per month to run your account.

Features

  • 1% commission for trading.
  • Allows trading XRP, BTC, LTC, ETH, BCH, and EOS.
  • Two-factor authentication and cold storage

Things to consider when choosing a cryptocurrency platform

Platforms you understand

Cryptocurrency exchanges won’t help you much if you don’t know how to use them. Ensure you have adequate knowledge of all features and tools included. Reviews and tutorials are good resources you could check out to have a clear understanding of how to utilize the exchange. Only rely on exchanges that clearly show you how to buy currency, how to transfer it to an external wallet, and where to find your wallet keys.

Altcoin Support

Practically every cryptocurrency investment platform allows popular coins like Ethereum and Bitcoin, but if you commence researching less popular cryptocurrencies, not every exchange will allow these assets. Before you make a choice on which alternative crypto exchange you want to sign up with, search for the list of coins that is available. It is quite annoying to discover that you are not able to purchase the altcoins you desire after you would have gone through the rigors of creating an account.

The top exchanges of crypto go beyond the well-known coins (such as Ethereum, Bitcoin, and Cardano) and try out a variety of coins with smaller market caps. It is helpful to have a good idea in advance of which coin you want to trade so that you can be sure that your exchange is using your currency of choice.

Operation in your country

After 10 years of operation, the legality of crypto is still an issue of contention. Bitcoin and other cryptocurrency transactions are inherently decentralized, making it extremely difficult for governments to tax. Several exchanges help you track when you buy and sell cryptocurrencies, making it easier for you to collect paperwork during tax season.

In many parts of the world, crypto and other exchange platform are banned from operating. For example, XRP is not currently permitted on US exchanges. While most states allow such crypto services, New York has specific laws that prevent certain exchanges, such as FTX, from operating in their jurisdiction.

Conclusion

Before choosing a cryptocurrency exchange, make sure you have a clear idea of ​​your investment plan. If Coinbase isn’t for you, try one of these Coinbase alternatives.

Frequently Asked Questions
  1. Are there other cheaper platforms than Coinbase?

Answer: Yes, there are cheaper platforms for cryptocurrency. Some of which are Gemini and eToro.

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