Coinbase Alternatives 2021 – Comparison

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Last Updated on July 29, 2021

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Table of contents:

  1. What are Coinbase alternatives?
  2. Comparison Table
  3. What is Coinbase?
  4. What is Coinbase used for?
  5. Coinbase Review
  6. Binance Review
  7. Kraken Review
  8. Gemini Review
  9. BitMex Review
  10. HitBTC Review
  11. FTX Review
  12. Crypto.com Review

What are Coinbase alternatives?

Popular alternatives for Coinbase are the following:

Comparison Table

Features Coinbase Binance Kraken Gemini BitMex HitBTC FTX Crypto.com
Cryptocurrencies 55 300+ 60+ 30+ 13 493 250+ 60+
Withdrawal fees Up to 3% 3.50% (min $10) up to 60$ Free Free 0.00085 BTC 0.00035 BTC Fees vary
Trading fees Up to 3.99% 0.10% up to 0.26% up to 1% up to 0.08% up to 0.25% up to 0.07% up to 0.20%
Margin Trading No Yes Yes No Yes Yes No Yes
Wire transfer Yes Yes Yes Yes No (only BTC) Yes Yes Yes
MasterCard Yes Yes Yes Yes No (only BTC) Yes No Yes
Card payment Yes Yes No Yes No (only BTC) Yes No Yes
Options No Yes No No No No Yes No
Futures No Yes Yes No Yes No Yes No
Volume (24h) $4,520,296,933 $49,783,279,322 $2,627,517,654 $236,259,123 $3,537,253,368 $4,283,671,159 $2,156,236,397 $318,892,506
Testnet Yes Yes No Yes Yes Yes No No
Fiat Yes (USD) Yes (50+) Yes (7) Yes No No Yes (10) No

 

What is Coinbase?

Coinbase is one of the most popular and competitive online cryptocurrency exchanges. Its API is often used by algorithmic traders as it allows users to trade cryptocurrencies automatically via code.

What is Coinbase used for?

Coinbase is used to buy, sell and trade cryptocurrencies online. The most popular cryptocurrencies that Coinbase offers are Bitcoin, Ethereum, Litecoin, XRP, and more.

Coinbase Review

Coinbase, like everything, has both sides of the coin and this article will look into the pros and cons, and compare it to other exchanges that are its natural alternatives. Will Coinabse come ahead of its alternatives?

The things most people like about Coinbase are the following:

  • Offers a good amount of tradable cryptocurrencies
  • Easy to use
  • Beginner-friendly
  • Has a flexible trading platform
  • Good customer service
  • Offers educational materials

The things that can be improved about Coinbase are these:

  • Only offers cryptocurrency trading
  • Coinbase Pro API could get more features
  • No official libraries
  • Needs more altcoins
  • High fees for non-Coinabse Pro users
  • The user doesn’t have control over the wallet keys

For more information about Coinbase and its API check out our article.

If you’d like to try out other exchanges or just see what the competition offers, I have prepared a short list of Coinbase alternatives that might suit your needs and personal preferences the best.

Each exchange will be compared to Coinbase by useful metrics that range from fees, available cryptos, and trading volume to fiat and testnet features.

Binance Review

Binance is one of the most popular cryptocurrency exchanges. Its solid track record and competitive fees have made it one of the market leaders when it comes to cryptocurrency trading.

When it comes to the features that users of Binance enjoy, they are the following:

  • Has low fees
  • Offers an advanced toolkit for professional traders
  • Easy to use and fast interface
  • Customizable
  • Has a good API
  • Offers high liquidity
  • Assets are insured in the case of the exchange being hacked

The features on which Binance can improve upon are these:

  • It can be too confusing for beginners
  • The platform is limited in payment methods
  • Has regulatory restrictions to some US states
  • Could offer more cryptos for trading

But how does Binance compare to Coinbase in its features? Let us take a look at the table below that provides some information that you should take into consideration.

Features Coinbase Binance
Cryptocurrencies 55 300+
Withdrawal fees Up to 3% 3.50% (min $10)
Trading fees Up to 3.99% 0.10%
Margin Trading No Yes
Wire transfer Yes Yes
MasterCard Yes Yes
Card payment Yes Yes
Options No Yes
Futures No Yes
Volume (24h) $4,520,296,933 $49,783,279,322
Testnet Yes Yes
Fiat Yes (USD) Yes (50+)

As you can see, Binance does have some features that Coinbase doesn’t and the fees are lower. Also, Coinbase follows a strict process when choosing which cryptos to feature which provides more safety and thus restriction.

Kraken Review

Kraken is a US-based cryptocurrency exchange platform that allows its users to trade over 50 tokens and coins. It features things like OTC, fiat, spot, margin, and futures trading.

Kraken is known for its good API that brings speed and stability when it comes to algorithmic trading and you can read more about it here.

There are many things that might attract a trader to Kraken and here are the main ones:

  • Easy to use
  • Beginner-friendly
  • Has a good track record
  • Customizable
  • Has a decent range of cryptocurrencies
  • Competitive fees

On the other hand, Kraken could use some improvement in the following areas:

  • Customer support tends to be sluggish
  • There isn’t a test environment for trading strategies
  • Requires ID identification (isn’t private)
  • Doesn’t allow credit or debit card deposits

But how does Kraken compare to Coinbase in its features? Let us take a look at the table below that provides some information that should be taken into consideration when choosing what is right for your needs.

Features Coinbase Kraken
Cryptocurrencies 55 60+
Withdrawal fees Up to 3% up to 60$
Trading fees Up to 3.99% up to 0.26%
Margin Trading No Yes
Wire transfer Yes Yes
MasterCard Yes Yes
Card payment Yes No
Options No No
Futures No Yes
Volume (24h) $4,520,296,933 $2,627,517,654
Testnet Yes No
Fiat Yes (USD) Yes (7)

Coinbase overall has more preferred features by most traders and is used by a wider range of users. But Kraken isn’t to throw away as it has noticeably lower fees than Coinbase.

Gemini Review

Gemini is a US-based online cryptocurrency exchange platform that brings a beginner-friendly interface and is a solid pick for both beginners and advanced traders.

When it comes to cryptocurrency, Gemini offers its users access to over 20 cryptos like Bitcoin, Ethereum, Litecoin, XRP, Stellar, and more. If you want to learn more about its API you can check out this article.

The things that make the users of Gemini happy are the following:

  • Easy to use
  • Provides many platforms
  • Has rigorous safety measures
  • Beginner-friendly
  • Has a testnet
  • You can pay directly with your crypto

Some features of Gemini that could be improved upon are these:

  • Should be available in most countries
  • Has high fees
  • Only features cryptocurrency trading
  • Has limited account funding methods
  • Could use more cryptos

But how does Gemini compare to Coinbase in its features? Let us take a look at the table below that provides some information that could help future traders decide on which exchange to partake in.

Features Coinbase Gemini
Cryptocurrencies 55 30+
Withdrawal fees Up to 3% Free
Trading fees Up to 3.99% up to 1%
Margin Trading No No
Wire transfer Yes Yes
MasterCard Yes Yes
Card payment Yes Yes
Options No No
Futures No No
Volume (24h) $4,520,296,933 $236,259,123
Testnet Yes Yes
Fiat Yes (USD) Yes

 

From the first glance, we can see that Gemini has no withdrawal fees and the trading fees are noticeably lower than those of Coinbase. Gemini has more strict security procedures and is thus, on average, safer than Coinbase.

On the other hand, Coinbase is easier for crypto trading newcomers and has better customer support. This means that the decision on which one suits you more would boil down to safety vs convenience.

BitMex Review

With BitMex, traders trade contracts that can be more volatile than those of traditional trading. Their platform is primarily built around trading cryptos through derivative trading or other approaches like margin trading.

The peculiar thing about BitMex is that it only handles Bitcoin. All profits and losses are in Bitcoin, even if you’re buying and selling altcoin contracts. Simply put, BitMex does not handle fiat currency.

BitMex also features a good API on which you can read more about here.

The primary points that make BitMex a great exchange are these:

  • Easy to use
  • Has high liquidity
  • Has competitive fees
  • Is customizable
  • Offers cryptocurrency derivatives
  • Offer leverage up to 100x
  • No withdrawal fees

Some features that BitMex could improve upon are the following:

  • Only accepts Bitcoin for deposits and withdrawals
  • No fiat features
  • Withdrawals are fixed to a particular time frame
  • Isn’t suitable for beginner traders

But how does BitMex compare to Coinbase in its features? Let us take a look at the table below that provides some information to think about when picking between these two exchanges.

Features Coinbase BitMex
Cryptocurrencies 55 13
Withdrawal fees Up to 3% Free
Trading fees Up to 3.99% up to 0.08%
Margin Trading No Yes
Wire transfer Yes No (only BTC)
MasterCard Yes No (only BTC)
Card payment Yes No (only BTC)
Options No No
Futures No Yes
Volume (24h) $4,520,296,933 $3,537,253,368
Testnet Yes Yes
Fiat Yes (USD) No

 

BitMex is quite a specific exchange when it comes to the way it operates and if you’re a beginner trader or someone not interested in BTC, you should skip BitMex and go for Coinbase.

On the other hand, if you’re an experienced trader interested in BTC and want to do some derivatives and margin trading, then the BitMex exchange is right up your alley.

HitBTC Review

HitBTC is an online cryptocurrency exchange platform that is built around a vast range of altcoins. It is often used for hunting low cap gems and it offers over 450 cryptos.

When it comes to algorithmic traders, HitBTC is a valuable choice as it features a good API that you can test on their demo account.

The features that HitBTC users like are the following:

  • Easy to use
  • Customizable
  • Has a good API
  • Has a testnet
  • Provides an outstanding range of cryptocurrencies
  • The interface is clean and easy to navigate

When it comes to the areas where HitBTC can improve, they are the following:

  • HitBTC is not a regulated exchange
  • Has issues with transparency
  • Isn’t aimed at beginner traders
  • Slow withdrawals

But how does HitBTC compare to Coinbase in its features? Let us take a look at the table below that provides some information that you should take into consideration.

Features Coinbase HitBTC
Cryptocurrencies 55 493
Withdrawal fees Up to 3% 0.00085 BTC
Trading fees Up to 3.99% up to 0.25%
Margin Trading No Yes
Wire transfer Yes Yes
MasterCard Yes Yes
Card payment Yes Yes
Options No No
Futures No No
Volume (24h) $4,520,296,933 $4,283,671,159
Testnet Yes Yes
Fiat Yes (USD) No

 

HitBTC beats Coinbase when it comes to the number of available cryptos and the fees. But they were some issues with the responsiveness of HitBTC and the structure they operate on isn’t transparent.

FTX Review

FTX is an online cryptocurrency derivatives exchange platform. FTX features various trading assets like Futures, Options, Leveraged Tokens, Spot Markets, and more.

The exchange features over 200 coins and the most popular ones are BTC, ETH, LTC, MKR, BNB, and more. FTX also has a decent API that can be utilized by algorithmic traders.

The features of the FTX exchange that are admirable are these:

  • Easy to use
  • Has low fees
  • Beginner-friendly
  • Has a decent API
  • Features Derivatives, Futures and Option trading
  • It wasn’t hacked

There is also some room for improvement for FTX:

  • Doesn’t have a testnet
  • Should be available in more countries
  • FTX is unregulated
  • FTX has quite risky leveraged tokens

But how does FTX compare to Coinbase in its features? Let us take a look at the table below that provides some information on where they share their common ground and differ.

Features Coinbase FTX
Cryptocurrencies 55 250+
Withdrawal fees Up to 3% 0.00035 BTC
Trading fees Up to 3.99% up to 0.07%
Margin Trading No No
Wire transfer Yes Yes
MasterCard Yes No
Card payment Yes No
Options No Yes
Futures No Yes
Volume (24h) $4,520,296,933 $2,156,236,397
Testnet Yes No
Fiat Yes (USD) Yes (10)

From the first glance, we can see that FTX has lower fees than Coinbase. But it doesn’t have a testnet and should obtain more ways of deposit. On the other hand, FTX features Futures and Options trading and Coinbase doesn’t.

If you’re looking for an exchange that has more fiat options and features Futures, Options, and Derivatives trading, FTX would be the way to go.

Crypto.com Review

Crypto.com is an online cryptocurrency exchange platform that offers a decent range of 80+ cryptos and 21 fiat currencies. The most notable ones being BTC, ETH, LTC, XRP, and more.

The Crypto.com exchange comes equipped with DeFi, staking, lending, price aggregation, and a good API. It is also a regulated exchange which means that it follows the KYC regulation.

The things that most people like about Crypto.com are the following:

  • Easy to use
  • Beginner-friendly
  • Has low trading fees
  • Provides debit cards and cashback
  • Has a decent range of cryptos
  • Customizable

There are also some features where the Exchange can step up the game:

  • Should be available in more countries
  • Has unintegrated coins
  • Has low privacy
  • Different products aren’t available in all jurisdictions

But how does Crypto.com compare to Coinbase in its features? Let us take a look at the table below that provides some information that might help you decide on which one to use.

Features Coinbase Crypto.com
Cryptocurrencies 55 60+
Withdrawal fees Up to 3% Fees vary
Trading fees Up to 3.99% up to 0.20%
Margin Trading No Yes
Wire transfer Yes Yes
MasterCard Yes Yes
Card payment Yes Yes
Options No No
Futures No No
Volume (24h) $4,520,296,933 $318,892,506
Testnet Yes No
Fiat Yes (USD) No

 

We can see that Crypto.com beats Coinbase in the fees and the number of available cryptos. If you’re more drawn to other features that FTX has (mentioned above) it could be an interesting exchange to look into.

Summary

I have listed 7 alternatives for Coinbase but which one should you choose?

Well, I don’t have the answer to that.

Here is the summary table again to make your decision easier.

Features Coinbase Binance Kraken Gemini BitMex HitBTC FTX Crypto.com
Cryptocurrencies 55 300+ 60+ 30+ 13 493 250+ 60+
Withdrawal fees Up to 3% 3.50% (min $10) up to 60$ Free Free 0.00085 BTC 0.00035 BTC Fees vary
Trading fees Up to 3.99% 0.10% up to 0.26% up to 1% up to 0.08% up to 0.25% up to 0.07% up to 0.20%
Margin Trading No Yes Yes No Yes Yes No Yes
Wire transfer Yes Yes Yes Yes No (only BTC) Yes Yes Yes
MasterCard Yes Yes Yes Yes No (only BTC) Yes No Yes
Card payment Yes Yes No Yes No (only BTC) Yes No Yes
Options No Yes No No No No Yes No
Futures No Yes Yes No Yes No Yes No
Volume (24h) $4,520,296,933 $49,783,279,322 $2,627,517,654 $236,259,123 $3,537,253,368 $4,283,671,159 $2,156,236,397 $318,892,506
Testnet Yes Yes No Yes Yes Yes No No
Fiat Yes (USD) Yes (50+) Yes (7) Yes No No Yes (10) No

 

Igor Radovanovic