10 Best Alternatives For Binance 2023

It has never been the target of hackers nor had any of its users lose their funds to cyber-attacks. At the heart of eToro’s market dominance lies the principles of accountability and transparency. The exchange has an excellent reputation when it comes to complying with stringent standards.

other trading platforms like binance

And though, Binance has consistently been dominating this sector; we understand that there is a need to consider alternatives to make up for the shortfalls in Binance. Instead of owning an asset, you simply speculate on the price of a security without actually owning the digital asset. Another major issue concerning Binance is its potentially faulty account verification and 2FA services. Customers have reportedly struggled to withdraw money and cannot trade or make investments. This benefits beginner who may not be comfortable with trading instantly and would like to understand the workings of the cryptocurrency market better.

To use Dash 2 Trade, you will need to buy the D2T token, which can then be used to pay for subscriptions. The token is a deflationary assets itself that can be exchanged for other currencies. Furthermore, the platform rewards users with tokens for spending time in the ecosystem. As a result, it is possible to earn whilst trading when you use Dash 2 Trade. With the platform, traders can access customizable layouts, trade-through charts, a wide range of plug-ins, and an intuitive interface.

Here are the best cryptocurrency exchanges for low fees, human advisor access, and more as picked by Business Insider editors in 2024. Robinhood brings its no-fee ethos to cryptocurrency trading, but currently offers fewer cryptocurrencies compared to pure-play crypto platforms. Coinbase is the largest U.S.-based cryptocurrency exchange, trading more than 200 cryptocurrencies. As mentioned above, Gate.io offers over 180 coins, so your under-the-radar altcoin might be lying around here somewhere.

other trading platforms like binance

Coinmama actually hosts 8 different cryptocurrencies – which include Bitcoin, VeChain, Litecoin, Bitcoin Cash, Ethereum, and Ethereum Classic. Crucially, once you have verified your Coinmama account, making a purchase should take you less than a few minutes. Plus, you can then use Coinmama to sell your coins back to fiat currency. Instead, you need to enter your wallet address when you make a purchase, and Coinmama will instantly forward the digital currency to your thrid-party wallet.

other trading platforms like binance

During this time, Kraken has become one of the leading exchanges with a reputation for ease of use, safety, and competitive pricing. The platform is suited for crypto investors to make quick fiat deposits and withdrawals. It is also a great tool to visualize crypto holdings in a single location and has one of the best crypto trackers for an exchange. In terms of fees, Coinbase has a maximum trading fee of 0.5% compared to 0.1% on Binance. Therefore, users will need to consider that there is a small increase in fees, which may not be suitable for day traders, for example. Despite the higher fees, Coinbase is our top pick since it caters to the wider community, including the USA, to buy, trade, store, and sell digital currencies.

EToro also stands out for us as it offers automated crypto trading tools and yield farming features as well as crypto staking for ETH and BSC. A hybrid exchange is another type of online trading platform that combines features of centralized and decentralize exchanges. A hybrid exchange uses aspects of a centralized exchange to support the buying and seller of assets. However, the platform has no control over users funds because these are stored in a decentralized manner. These platforms are governed by a single entity who make decisions around platform security, development, regulation, fees and accessibility. Centralized exchanges provide trader protection with processes such as KYC and 2FA.

With 20 million users globally, eToro has made a name for itself as an innovative trading platform. Further, eToro is one of the best Binance alternatives if you trade traditional instruments. Although Coinmama offers one of the easiest ways to invest in crypto, we should make it clear that the provider charges handsomely for its services. For example, all cryptocurrency prices that you see on the platform are typically 2% less favorable than the current market rate.

  • In the dynamic world of cryptocurrency, adaptability and informed decision-making are paramount.
  • This includes earning interest on cryptocurrencies, obtaining crypto-backed loans, and staking.
  • The founding team of KuCoin consists of technology and blockchain experts.
  • Although Coinmama offers one of the easiest ways to invest in crypto, we should make it clear that the provider charges handsomely for its services.

Most investors and traders begin cryptocurrency trading to diversify their portfolios and capitalize on different investment opportunities. These glitches have often resulted in unprecedented trading losses, making the platform vulnerable to lawsuits and other legal troubles. Binance’s repeated plunges and mistaken crashes in the cryptocurrency market have shocked many traders and investors.

Overall, the low trading fees and progressive financial management products are pros. It is a leading tier 1 cryptocurrency exchange platform that has adopted flexible strategies catering to the customer’s convenience. Currently ranked among the top 5 crypto exchanges as per Coinmarketcap, Bybit is one of the fastest-growing crypto companies in the world.

And because of that, we think it makes sense for crypto traders to come to know of some alternatives to Binance. The lowest trading fees include a 0.155% maker and a 0.165% taker fee. Apart from these fees, Kraken also charges 0.16% maker and 0.26% taker fees for spot trading. Futures trading fees are lower, starting at 0.02% for makers and 0.05% for takers. Margin trading incurs a 0.02% fee that increases by 0.02% every 4 hours. The platform has only about 50 cryptocurrencies, including BTC, ETH, LTC, and XRP.

For one, unlike Binance, FTX is more conservative in abiding by regulations in the countries that they operate in. At present, both the maker and taker fees on Pionex are fixed at 0.05% of the total transaction amount. The alternatives to use in Texas are Crypto.com, Kraken, and Coinbase.

Distinguished by its user-friendly and visually appealing website interface, KuCoin places a paramount emphasis on security. Furthermore, KuCoin users benefit from an API for automated trading and a mobile app for convenient on-the-go transactions. In addition, the exchange has unique Securities Truly a Trustworthy Brokerage Firm semi-offline multi-signature technology for ensuring the complete protection of crypto assets of their users. For keeping their cryptocurrencies safe and secure in one place, OKX offers a robust OKX wallet to its users, which encapsulates different Web3, DeFi, and GameFi features.

However, armed with the right knowledge, you can make an informed decision that aligns with your trading needs. Identifying an exchange that aligns with your needs is pivotal in the fast-paced cryptocurrency trading landscape. Not all exchanges are created equal, however, and the one that’s best for you depends on your specific trading needs, expertise, and the cryptocurrencies you’re interested in trading. It offers enough coins and features most traders need to travel the cryptocurrency landscape. However, it is not perfect and some of its downsides can harm your finances or worse.

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