As cryptocurrency trading grows in popularity, so do online trading platforms like Coinbase. These platforms allow users to buy, sell, store, trade, and transfer various cryptocurrencies. Coinbase is one of these legitimate crypto broker and exchange platforms, attracting many high-profile investors. However, there are also many alternatives to Coinbase. Keep reading for five great alternatives for your daily crypto needs and their benefits.
Many people dealing in altcoins may have already heard of Binance. This trading platform is easy to use and great for beginners. It offers over 500 global cryptocurrencies, 60 US-based cryptocurrencies, and 24/7 customer support. You can also trade crypto pairs. Fees are often lower than Coinbase, at 0.10% for trading, 3.5% or $10 for credit or debit card payments. Payment options include bank transfer, credit card, debit card, and direct person-to-person trading. Binance also offers users a chance to earn cryptocurrency by completing challenges and surveys. For security, all users are required to use two-factor authentication, thus keeping your crypto safer.
This platform is designed for more experienced traders, as the interface is somewhat complicated. However, you can trade 90+ cryptocurrencies in various fiat currencies. The main benefit of the Kraken platform is the verification level features, offering secure trading to users. These allow all users to access deposits, withdrawals, and exchange for their cryptocurrencies. Higher levels allow you to buy, sell, send, and receive cryptocurrencies while also offering futures trading and crypto watch. Fees are cheaper than Coinbase at 0.26% per trade. Additional fees apply for credit card and online banking purchases.
This fully regulated, global platform allows you to trade worldwide with confidence. However, Gemini does offer fewer cryptocurrencies than other platforms, sitting at around 40 options. This platform is easy to use, however has a lower daily trading limit depending on your region. Fees are comparable to Coinbase, but to counteract this, Gemini allows you to earn interest on any stored cryptocurrency. This is a big benefit for those looking to build their cryptocurrency investment.
This platform combines social interactions with crypto exchange. You can check out this Wikitoro site which is a detailed wiki about this service provider. On eToro, users can view traders’ profiles, and access trading tips from them. Additionally, beginners can choose to follow and copy high-profile traders on the platform. By activating this feature, their crypto automatically trades when the high-profile trader chooses to trade. Another benefit of eToro is the ability to learn about the trading process without risking your hard-earned money. Users can test the platform by using a $100,000 demo account. This virtual account allows you to get hands-on practice and experience. Users can also store cryptocurrencies, and the fees are very low at just 0.1% with no commissions.
For those looking to trade both cryptocurrency and precious metals, Uphold could be the answer. Uphold allows users to buy, sell, trade, and hold their cryptocurrencies and metals. They currently offer over 60 different cryptocurrencies. Fees vary depending on the payment method, for example, bank transfers are free, however, debit/credit cards have a 3.99% fee. It should also be noted that Uphold is not for beginners, as there are no tutorials within the platform. For experienced traders, however, Uphold is great and intuitive. Not only can you hold your investments but you can also set up auto-pilot. This feature enables you to automate your trades by setting a reoccurring buy or sell action when the preferred crypto hits a certain price.
There you have it, five alternatives to Coinbase. However, before you join any of the above platforms, you should ensure you have a clear investment plan. Decide which cryptocurrencies you wish to trade in, how much your buy-in is, and how often you want to trade. It’s like any business plan and business strategy, you need to have a roadmap. Then, you can use your trading goals to pick the best platform for your needs.