In the eyes of many cryptocurrency investors, Coinbase represents the first step into the crypto-verse, which is a much wider realm. Coinbase provides an excellent user experience, particularly for newcomers to the platform.
However, fees on Coinbase might become prohibitively expensive, prompting many investors to seek the top 5 Coinbase alternatives in 2022.
Are you considering making the transition away from Coinbase? Here is a list of the best Coinbase alternatives available right now.
Webull #1 Alternative to Coinbase
Founded in 2017, Webull is one of the more recent internet brokers, having launched with only a mobile application in May 2018. This mobile-first launch was symbolic of Webull’s most significant target market: millennials.
With no account minimums, commission-free trading of stocks/ETFs and their options, as well as several cryptocurrencies.
Webull is positioned itself to serve newer and more active traders. Moreover, those attracted to a platform that offers a wide variety of services for free.
Who Is Webull For?
Webull is designed for investors who wish to enter the financial markets with no minimum account sizes and no commissions.
Given the fact that Webull is not a full-service broker, its customers must take a more hands-on approach to some areas of portfolio management. Webull consumers have skewed younger than at other brokerage companies.
The broker’s no-cost strategy will also appeal to aggressive traders. Webull’s free options trading will particularly appeal to active options traders.
As other brokers, including ones that have adopted free stock and ETF transactions, such as Schwab, continue to charge commissions on each leg of options trades.
#2 Alternative to Coinbase Binance
Trades wishing to avoid the sometimes-outrageous expenses associated with other brokers or exchanges may want to take a hard look at Binance US, which has among of the lowest fees in the cryptocurrency business.
An extensive spectrum of cryptocurrency traders should find the exchange useful. Particularly those who wish to go further into the industry beyond simply the top few brands.
While the costs are nominal, you might have to pay for them by receiving little or no customer service.
Remember, this exchange is established in the United States, not its parent company, which is based in Hong Kong and operates outside of the nation.
Overall, Binance – the name we’ll use to refer to the company’s U.S. operation – is a compelling method to get started with cryptocurrency trading and investing.
Although Binance may not have the widest range of cryptocurrencies, it does provide far more than the more general financial applications such as Robinhood and Webull, which have been making inroads into the cryptocurrency market.
With a total of 59 cryptocurrencies accessible on its site, you’ll be able to locate the most well-known brands in the industry. It includes Bitcoin, Ethereum, Binance Coin, Solana, and many others.
Along with that, you’ll discover dozens of different cryptocurrencies, including several that you’re unlikely to be familiar with.
Who Is Binance For?
To attract as many users as possible, Binance has created a user interface that is simple and straightforward.
The exchange is easy to use for beginners, but it also has enough currencies and features to satisfy the needs of experienced traders as well as beginners. Binance is a cryptocurrency exchange that I would suggest to crypto traders of practically any degree of experience.
The only people that may have difficulty navigating Binance are those who are new to the platform. These users are unlikely to have any cryptocurrencies and are unlikely to be familiar with the fundamentals of cryptocurrency trading.
Is Robinhood a Good Alternative to Coinbase ?
In its early phases, Robinhood distinguished itself as a game-changing disruptor in the stock brokerage market. Its most significant competitive advantage was the fact that it did not charge commissions on stock, option, and cryptocurrency trading.
As a result of the elimination of fees by the majority of the brokerage sector, that advantage has been offset.
Due to a simple design and user experience that emphasizes the fundamentals, Robinhood has created a strong brand and niche market among young, tech-savvy investors despite rising competition on pricing.
In an effort to attract new consumers and improve the financial connection with existing customers, the broker recently introduced cash management services and a recurring investment option.
Despite the fact that Robinhood’s user base has risen at an exponential rate in recent years, the company’s success has resulted in increased scrutiny of the organization. It has also been under fire in recent months for unexpected outages and purposeful trade limitations. All of this occurred during periods of high volatility on the market.
Who Is Robinhood For?
With more than 13 million members, the average age of whom is 31 years old. It is apparent that Robinhood is emerging itself to be the go-to platform for younger investors looking to invest in the stock market. Even if it means investing in modest amounts through fractional shares.
Because of Robinhood’s inherent simplicity, both the app and the website are clear and simple to use. If you’re thinking about trying your hand at cryptocurrency investment, Robinhood can assist you.
You will be able to trade Bitcoin, Ethereum, and other cryptocurrencies on their platform. Robinhood has also extended its options trading platform, making the broker a potentially attractive alternative for options traders. But there are some worries regarding the quality of trade executions.
#4 Alternative to Coinbase | KuCoin
A well-known name in the cryptocurrency sector, KuCoin has succeeded in establishing itself as a leading one-stop-shop for all types of crypto-related transactions and transactions.
In August 2017, the exchange launched with over 200 cryptocurrencies and more than 400 markets. It has since developed into one of the most vibrant cryptocurrency centers on the internet.
The platform provides bank-level security, a slick interface, a user-friendly user interface, and a wide range of crypto services.
It includes margin and futures trading, a built-in P2P exchange, the ability to buy crypto with a credit or debit card, instant-exchange services, the ability to earn crypto by lending or staking via its Pool-X, the opportunity to participate in new initial exchange offerings (IEOs) via KuCoin Spotlight, and some of the lowest fees.
Who Is KuCoin For?
A vast range of coins, including lesser-known cryptocurrencies, as well as significant profit-sharing incentives – up to 90 percent of trading fees are returned to the KuCoin community through the use of KuCoin Shares (KCS) tokens, make KuCoin a popular choice among investors.
After experimenting with KuCoin for the first time, I was pleasantly surprised to see that the site is really user-friendly. In my opinion, everything from placing a deposit to concluding a deal is rather straightforward.
Aside from casual traders, the KuCoin exchange is a fantastic choice for more professional traders. Since it offers a variety of tools for analyzing pricing trends, such as candlestick bars.
The typical trade volume at KuCoin, on the other hand, is in the tens of millions. It is significantly lower than that of larger exchanges like Binance.
Crypto.com | Another Alternative to Coinbase
The cryptocurrency platform Crypto.com may be suitable for you if you’re seeking an economical, all-in-one cryptocurrency platform.
The more the amount of Crypto.com coin (CRO) you are able to stake, the greater the number of rewards you will receive from this exchange.
The crypto exchange is a strong low-fee option even without the CRO incentives. Moreover, it has over 60 cryptocurrencies available in most of the United States. Especially if you wish to utilize a crypto debit card.
Who Is Crypto.com For?
The exchange is one of the most cost-effective fiat-to-crypto gateways available. Using the exchange to trade cryptocurrencies will incur a tiny maker/taker charge, which you will pay out of your profits.
A decentralized cryptocurrency exchange, on the other hand, is provided by the DeFi wallet, which allows you to trade cryptocurrencies with other users.
It’s possible that the trading interface on Crypto.com will be overwhelming to those who are new to cryptocurrencies.
When you try to be everything, it’s normal to become overwhelmed by the amount of information on your website. There’s a lot to take in and a lot of jargon to learn, especially if you’re just starting in industry.
Even with the relaunch of the website in 2021, there will be a great deal to do. Any website that contains a large number of items and services is likely to be tough to browse through.
Below is the comparison of the top 5 best crypto market alternatives of Coinbase in 2022. The comparison is based on two major factors, the fee per trade and account minimum.
|Crypto Exchange||Fee (per trade)||Account Minimum|
|Binance||0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card)||$10|
|Crypto.com||Based on Levels of Trading Volume||0.0003 BTC (19.4 USD)|
In order to start with cryptocurrency trading or investment, it is critical to select the most appropriate exchange for your needs.
If you want to trade in the most currencies, pay the lowest costs, or have the simplest experience, there is a suitable alternative for you.
Whether it’s Coinbase or our overall winner Binance, all you need is a funded account.
After that, you can purchase your very first crypto investment.