Binance is quite popular and touted as a leading crypto platform. Even though this platform offers a series of useful features for trading, it will be such a delightful journey to get to know the Binance alternatives out there. Nowadays, you may hear about several platforms that offer similar features as Binance. Many of them consistently provide a pack of features to enhance the experience of crypto trading. Of course, some factors make one platform better than another. Even though Binance is considered new in the crypto exchange pool, it already handles more than USD 2 billion of transactions per day. Considering the crypto exchange scene has developed from time to time – along with some restrictions to be aware of – you can always find similar apps to Binance that suit you more in the first place.
The Best Binance Alternatives
Before checking out the alternatives, you may want to know why Binance is such an excellent option when it comes to crypto exchanges. However, this platform is banned in the US, Malaysia, Japan, and Singapore along with some other countries. Looking for alternatives also allows users who cannot access the app due to the ban in the first place. But why is Binance a big deal? Or, what is Binance anyway? Here are some prominent features of this platform.
The brokerage service is top-notch. Supports various trading services. Users can perform both staking and mining effortlessly. Want to gather passive earnings? Binance has savings, lending, and yield farming services too. Storage is secure and safe. Some other features include Binance Pay, Binane Visa Card, Binance Coin, Binane Chain, Binance Academy, and Binance Launchpad. The newest is Binance NFT.
The features mentioned above are quite exciting and allow users to perform various tasks effortlessly. However, some drawbacks are worth considering too. This platform is banned from quite many countries due to its corporate transparency. Other than that, the company seems unable to follow the regulations determined by several countries. If you check the market and other platforms similar to Binance, there are tons of better UI designs out there. Also, there is no insurance from FDIC about this platform. So, if you are looking for a crypto exchange platform that provides a better environment, excellent transparency, and trustworthiness then you should take a look at the list below.
1. Coinbase
The first alternative to Binance platforms on this list is Coinbase. This platform is available both in free and pro versions. It also comes with a wallet so that you don’t need to set up a new one from another third-party vendor. Other than that, this platform builds and provides a highly secure environment for traders to buy and sell crypto assets. Whether you use the free or paid version, you will get the same features. The only difference is in your options to see charts and indicators. You would love Coinbase because:
It offers a solid series of altcoin options. The UI is simple and practical. Coinbase has a high level of liquidity.
Once you have mastered all the terms in its free services, you can upgrade your experience with the pro version. It helps you to be more advanced when it comes to trading crypto assets. And if you put Binance vs Coinbase then each of them has different points to steal their users’ hearts.
2. Bisq
Bisq is also one of the apps similar to Binance worth considering. This platform is quite an excellent place to trade your crypto coins and everything is secure yet anonymous. The software also applies a decentralized system so that users can do their activities comfortably. It also ensures that only the user can control and touch the funds in the first place. Other interesting features include:
Bisq is a decentralized place to trade crypto with non-KYC requirements. It offers at least 15 types of payment options. You can access the app on your smartphones, both iOS and Android as well as computers.
Thus, if you are looking for a place to trade crypto without registering an account in the process, you would love Bisq. Also, it features high-level privacy, though.
3. Cash App
Trading cryptocurrencies is for everyone. You will find pro users and newbies get along with this side hustle. However, not all crypto trading platforms offer a decent environment for beginner traders. Thus, if you are looking for the best alternative to Binance for beginners, Cash App is such an excellent option to consider. One of the most exciting things about this app is that you have flexible options to withdraw your assets. Other than that, you can use your crypto to pay rent, split food bills, shop online, and many more. This is why beginners would love this platform. Besides, Cash App comes with an intuitive UI design which will make newbies have the spirit to trade more. The only drawback of this app is that you cannot control the private. Meanwhile, not having the private keys to your wallets means that those assets are not yours, right? Still, Cash App is an excellent alternative for those who prefer other apps than Binance.
4. Uphold
According to the Binance review by several users, Uphold also deserves a place on this list. Even though this platform might not be a perfect tool for professional investors, conservative traders would love this app a lot. This platform allows various asset types, such as crypto stocks, fiat currencies, and also precious metals. One of the most exciting things about Uphold is its smooth yet effortless process for switching assets. More than anything, this platform suits those who look for diversities in assets. Thus, you can trade both gold and Bitcoin at the same time in one place. The only thing that makes Binance more stands out is its liquidity. You should give this app consideration, especially if you look for a crypto trade platform that offers trading for other assets too.
5. KuCoin
Another app that is similar to Binance is KuCoin. The company is based in Singapore and you should consider this option too. Other than offering similar features to Binance, this platform is available in most countries. Considering Binance is banned in Singapore, KuCoin can be an excellent choice for those who live there. Generally, it features standard tools you can expect from a trading platform for crypto exchanges. However, the fees are quite low – you only need to pay 0.1 percent per trade, whether you are a maker or trader. KuCoin allows you to trade various crypto coins as well, especially the popular ones. This platform, moreover, doesn’t offer as many services as Binance. It also is not licensed in some countries, in case you are aware of that thing. Still, KuCoin is a decent platform for crypto exchanges. And you can consider this app if Binance is not available where you are living.
6. Kraken
It might not be easy to find Binance free alternatives that offer excellent security and a vast array of tools for trading. However, you will find tons of options that come with affordable fees. Kraken is one of those alternatives that charge you affordable rates. Other than that, this platform is one of the oldest players in the crypto exchange scene. Until today, it is quite popular – it shows how trustworthy this platform is. You can use this platform if you live in Europe, the USA, Canada, Hong Kong, Malaysia, Singapore, and other Asia countries. Kraken is quite popular in Asia, after all. One of the best things about this platform is that you don’t need to pay deposit fees, mostly. Whether you are a pro trader or just starting your journey, this platform will be a delightful choice.
7. Voyager
Voyager is an interesting option you should consider if you are living in the US – the company is based in the US. It allows you to trade various crypto coins but it only is available in mobile apps. Still, you can access this platform both on iOS and Android phones. For every order you make, there is no need to pay for commissions in the first place. Thus, many traders and accumulators love using this app compared to other options on the list. Just like most crypto trading platforms, this app also allows you to transfer assets to your wallets as well as use DeFi protocols. Both pro traders and newbies find Voyager quite seamless for their trading activities.
8. Robinhood
When it comes to what’s similar to Binance, Robinhood will also make a place on the top-10 list. You can trade crypto and stocks in one place. This platform, on the other hand, builds a comfortable environment for traders who want to trade various assets without using any third-party apps. Nowadays, Robinhood supports several crypto coins including Dogecoin, Ethereum, and Bitcoin. Of course, it sounds too little for crypto trading. Still, you won’t be disappointed with how excellent this platform is when it comes to providing access to a large market cap. Whether you are new or pro traders, you better consider Robinhood for your next brokerage. Almost any transaction is costless.
9. Gemini
Gemini might not be an ideal choice if you are looking for the best free alternatives to Binance. However, the fees are way lower than bigger platforms available on the market. On the other hand, this platform only supports a few cryptocurrencies – about 40 types of coins are available. To ensure security and safety, Gemini requires you to input your personal information for identification – some users don’t like this point, after all. Regardless of the differences, this platform is such a solid choice for those who live in the US. Even though you can only trade limited types of coins, it supports DOGE too. So, you better check this platform yourself.
10. FTX
FTX has become a solid choice for many traders. It comes with a series of tools for professionals and is quite intuitive for those who are just starting. You will find several choices of popular pairs, which are excellent for all traders. Generally, FTX is one of the newest players in the crypto exchange playground. So far, this platform puts experience and security in the front row. It supports at least 102 crypto coins, which is quite varied for a new platform. Other than that, it provides several payment options, including bank transfers and cards. Even though FTX is one of the best Binance alternative platforms out there, the fees are not the lowest compared to other names on the list. Still, you can consider this place as your next trading destination.
11. CEX.io
This platform is based in London and quite a legendary one. All withdrawals you make will be processed immediately – there is almost no waiting time. Other than that, CEX.io is quite trustworthy. If all you need is a reliable place to trade crypto assets with relatively low fees then this platform is definitely it. Besides, it operates in almost all countries around the world. More than anything, this platform allows anyone – both new players and legendary traders – to enjoy crypto trading.
Conclusion
There are not many coins similar to Binance coin. Fortunately, you still have many options on the market. More than anything, Binance provides a competitive platform to trade your crypto assets. Compared to most platforms available on the market, this one is still leading on several factors, such as accessibility, supported assets, and also trading volume. However, those options mentioned on the list above are worth your consideration in many ways, especially if you live in countries where Binance is banned. Other than that, several platforms offer more exciting things for you to consider. Coinbase, for instance, deserves the best overall. Thus, whether you are a new player or a professional trader who needs a fresh start, you can always go to Coinbase in the first place. So, what do you think about the best Binance alternatives on the list above? Have you decided on your favorite platform yet?
