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5 Best Coinbase Alternatives in 2022

Coinbase is one of the most recognisable crypto trading platforms, having gone public in 2021 and sponsoring the Super Bowl in 2022. This makes it a popular choice for investors new to cryptocurrency, but there are several other options out there that could be a better match for your needs. 

Read on for our guide to the best Coinbase alternatives in 2022 and find the right platform for you.

Quick Guide

  1. eToro - Overall Best Coinbase Alternative

  2. Binance - Best Alternative for Altcoins

  3. Kraken - Best Alternative for Customer Experience

  4. Nexo - Best Alternative for Staking

  5. bitFlyer - Best Alternative for Small Budgets

Top Coinbase Alternatives

1. eToro - Best Coinbase Alternative Overall

eToro is our top alternative to Coinbase owing to its excellent performance across the board. Its simple, intuitive interface makes it a great choice for first-time traders, whereas a wide range of coins and a complete trading toolkit make it suited to pro traders too.

eToro offers fee-free trading and has very competitive spreads (under 1% on Bitcoin), but its main advantage is arguably its CopyTrader feature. This allows complete beginners to copy the trades of professionals, which is an unbeatable learning tool in our books. You can check out our full eToro review for more information.

A screenshot of the eToro trading interfacePros

  • Trade 63 coins, with more added regularly

  • Fee-free trading

  • Low minimum deposit ($10 in UK/USA)

  • Learn from the best with CopyTrader

  • Intuitive interface is perfect for beginners

  • Secure and regulated

  • Use credit/debit card, PayPal, and more

  • Trade stocks and shares as well as crypto

Cons

2. Binance - Best Alternative for Altcoins

Binance allows users to trade over 600 coins, and this range is far superior to Coinbase’s 100 or so. Binance’s interface has had a facelift in the last year or so, meaning that beginners will feel at home as well as experienced traders.

Binance also offers futures trading, staking, crypto earning, and DeFi options, as well as an NFT marketplace, making it better than Coinbase for those looking for a wider range of both coins and features. You can learn more from our full Binance review.Screenshot of Binance's interface

Pros

  • 600+ coins available

  • NFT, staking, and futures services

  • Professionally-geared trading tools

  • Low trading fees

  • Binance Academy offers educational resources

  • 24/7 chat support

Cons

  • The full trading interface can be too technical for beginners

  • Regulatory issues in some countries

3. Kraken - Best Alternative for Customer Experience

Kraken is an excellent option for large-scale investors, with around 150 major coins, a selection of crypto indices and futures available to trade, and market-leading OTC and bespoke services. If you’re looking to invest big bucks, Kraken is probably your best bet, and it has the reputation to match.

Even if you are on a smaller budget, Kraken is a good option if you are serious about crypto investing. Kraken Pro, the advanced version of the exchange, offers lower fees than Coinbase, and Kraken’s educational materials beat Coinbase’s in our books. Screenshot of Kraken's available markets

Pros

  • OTC and white-glove services available

  • Kraken Pro has strong features and low fees

  • 150+ coins on offer 

  • Excellent reputation & well-respected CEO

  • Top-tier educational resources

  • Advanced and beginner “modes” available

Cons

  • Fees are not quite as low as Binance

  • Verification can take a while in some countries

4. Nexo - Best Alternative for Staking

Nexo is arguably the best service out there for growing your crypto portfolio passively. Through staking and lending options, you can earn up to 17% annual interest on your crypto, with some limited-time yields hitting as high as 42%.

Nexo’s staking and earning offering dwarfs that of Coinbase and virtually every other exchange, while its Bitgo custodian and $375 million worth of insurance make it a clear choice for safety-minded investors. 40 coins are available to trade, lend, and stake.

Pros

  • 40 coins available to trade

  • Exchange fees reduced for NEXO token holders

  • Staking/earning rewards trounce Coinbase's

  • Military-grade security and insurance

  • Borrow money against your crypto

  • Crypto credit card available soon

Cons

  • Other exchanges offer more coins to trade

  • Fees can be higher than other options

5. bitFlyer - Best Alternative for Small Budgets

bitFlyer offers zero fees for buying and selling crypto with euros, and trading fees on the more advanced Lightning exchange are also very low. Users can buy as little as €1 worth of crypto to "get off zero" more easily - a term that refers to buying your first bit of cryptocurrency.

bitFlyer Lightning caters to advanced traders with a range of trading tools, whereas the regular version’s interface rivals Coinbase’s in terms of ease of use. Verification and KYC are fast as well, meaning it’s easy for newbies to get started quickly.

Pros

  • Low fees

  • Beginner-friendly

  • Start with as little as €1

  • Verification takes less than 5 minutes

  • Advanced traders can use Lightning mode

Cons

  • Only a handful of coins are available

  • Limited number of currency pairs 

How to Choose a Coinbase Alternative

When choosing an alternative to Coinbase, it’s important to consider the features and factors that you value the most. We’ve outlined the headline features of each platform in the list above, so you can quickly choose the best platform according to your needs.

Other factors you may want to consider are:

  • Fees - If you want maximum value for money, Binance and bitFlyer are great Coinbase alternatives. 

  • Customer support - Coinbase has good customer support, but Kraken has arguably the best customer service offering.

  • Security - Security across most major exchanges is strong, so any option should serve you well.

  • Ease of use - eToro is extremely easy to use and is our favourite option for beginners, but Coinbase is a solid choice for new investors.

  • Coins - Binance is the best Coinbase alternative for altcoin traders hands-down, with over 600 coins on offer.

  • Advanced features - Nexo offers some of the best extra features for lending, borrowing, and staking, but Binance is also a good alternative to Coinbase given its NFT platform and earnings mechanics.

  • Payment methods - Most alternatives to Coinbase offer a range of payment methods. eToro offers PayPal, making it a popular choice for beginners.

  • Privacy - Most exchanges are beholden to fairly stringent KYC rules these days, so if you value privacy, you may want to use a P2P exchange.

Final Thoughts

Coinbase is a “jack of all trades” platform that does a good job at satisfying most needs for crypto traders and investors, but there is probably a platform out there that suits your specific needs better.

Our top overall alternative to Coinbase is eToro.


Frequently Asked Questions

  1. Yes. Coinbase is a reputable and safe platform, as are all of the alternatives recommended on this page.

  2. The best Coinbase alternative for you depends on your needs. Consult our list at the top of this page to find the right platform for you.

  3. Coinbase is a decent choice for beginners due to its friendly interface and strong reputation, although we believe that other platforms such as eToro and Kraken are potentially better options due to extra features and strong customer service.

  4. Yes. Coinbase only operates in countries where it is legally allowed to do so. 

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