Coinbase. Everyone who knows cryptocurrencies most probably will also know about coinbase.
Yes, one of the most famous digital coin exchange platform. If you are a beginner to the concept of this digital coin then you might end up liking Coinbase. It also provides a software cryptocurrency wallet, that is quite useful.
Why? Because Coinbase is very much user friendly and anyone can get the coins if you have the credit or debit cards just like that. Cool? Yeah. But the attraction people had when they joined Coinbase started to fade out every other day. Do you know why?
Reasons to avoid using Coinbase
Well, there are three main factors that really affect Coinbase.
- Availability: Such a famous crypto exchange platform was only available in 32 countries. Something so famous in the market was only available to 32 countries?
Well, they are now available in 100+ countries with limited options still. Might obviously they are losing some customers in first go itself.
- Higher fees: Coinbase has many more complaints from its customers pointing out the higher fees charged for each transaction.
Well, in the beginning, people just noticed how smoothly the process is getting done. But when you get the trade business right, you will understand the reason.
- Limited coins: Yes, Coinbase supports only limited coins like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. There are so many different coins available in the market but Coinbase is limited.
What to expect when you are looking for a digital coins trading platform?
Have in mind that,
- Check whether they support the number of coins.
- Make sure they have good security options.
- Reasonable fee charges for trading.
- And make sure you feel comfortable with that particular trading platform.
Top 4 Alternatives of Coinbase
Now that you know Coinbase might not be a comfortable option to spend time in. Let us look out some of the good alternatives to Coinbase.
Note: The alternatives of Coinbase we are suggesting are random and not in order. You may love other exchanges than these.
Cex.io supports many coins and comes with a quick purchase of top coins using credit or debit cards. Withdraw your money anytime to your bank accounts option in simple steps. They also provide a rich variety of trading tools as well.
Payment methods: Visa, Mastercard, bank transfer (SWIFT, SEPA, ACH, Faster Payments), cryptocurrency.
Fee charges: 0.10% to 0.41% per month. Depends on the volume of how much we buy and sell.
Supports more than 15 coins and so old in the field with many good reviews. Comes with great security features and good customer care service for 24/7.
Kraken uses a maker-taker fee schedule with volume incentives based on your activity in the past 30 days. Also has two-factor authentication and has encryption.
Payment methods: Support cash and debit card deposits (in-person). For all other fiat currencies (USD, EUR, GBP, JPY), Kraken does not currently accept cash, debit cards, credit cards, PayPal, or similar services.
Fee charges: 0% to 0.26% of the total cost per month depending on the 30-day trading volume.
Binance supports more than 100 coins and almost covers everything that coinbase couldn’t of. Comes with zero deposit option which is really great. And security features are fully packed and good.
Also has a two-step verification system. Guess what? Binance is available in almost 180+ countries. And they now introduced instant buy options as well.
Payment methods: Credit/debit cards and bank transfers are accepted.
Fee charges: 0.1 general trading fee and determined over 30-day trading volume.
Almost available in 185+ countries with 1.5 million users all around the world. You can also use any currencies to buy coins. But coinmama has limited coins to support like 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.
Payment methods: Credit/debit cards and all master, visa cards available.
Fee charges: 4.9%-5.9% which depends on value.
According to us Binance is the most useful exchange if you look at the variety of coins, security and trading. What do you think?
And yes, some good platforms include Bitpanda, Gemini, Local Bitcoin, and lots more! What do you think is the best alternative for Coinbase? Do comment down!
Stay tuned for more news related to blockchain and digital currency.