Coinbase is a well-known cryptocurrency exchange platform that helps investors/traders buy, sell, and trade multiple digital assets with fiat. It offers diversified products on its platform which makes it a preferred choice of institutional clients. Not only that, with this exchange, you can also stake your tokens to earn rewards, receive payments in crypto for goods and services, and much more.
Despite the features, what comes across as an exchange with benefits, is also tied with higher transaction fees in comparison to the other crypto exchanges. Therefore, you will be able to save better on transaction fees by using a Coinbase alternative instead, i.e, the other crypto exchanges, and believe us when we say it; there is a bunch chock full of features.
These exchanges will allow you to invest in stocks along with crypto, buy or sell via local payment channels, automate orders, and more. So, let’s dive into the best alternatives to Coinbase already, shall we?
1) Bitstamp
The Bitstamp exchange came before Coinbase and the fact that it is older tried, and tested, makes it one of the major competitors of Coinbase. It offers a range of cryptocurrencies, but not as wide a selection as Coinbase (more than 100 and regularly growing). Even staking has only two options Ethereum and Algorand.
The exchange has built-in institutional investment and trading features ideal for both beginners and seasoned traders. As for the security front, the exchange ensures that the user’s funds are secured when being traded, received, or sent.
Features:
- Depending on the 30-day transactional volume, trading fees may reduce by 25 percent
- You can buy crypto tokens using multiple payment methods such as Google Pay, PayPal, Apple Pay, Wire Transfer, SEPA, and Credit Cards
Fees:
- Trading fees would be 0.50 percent for a trading volume of less than $10,000
- For a trading volume of more than $20 million, the fee is 0.0 percent
- 15 percent fees on staking rewards
- No fees for deposits from ACH, SEPA, and Faster Payments
- International wire deposits are 0.05 percent and card purchases are 5 percent
2) Crypto.com
Crypto.com is a crypto exchange that supports investing, trading, staking, NFTs, and more. But, what makes it famous is that it enables merchants to accept crypto payments. It also functions better than Coinbase in this aspect with a large number of merchants already utilizing it.
Features:
- Merchants can get paid in all 91 supported cryptocurrencies when they sell goods or services online
- Merchants can benefit from the quick conversion to USD and other supported fiat currencies, low transaction fees, website payment button integrations, and more
Fees:
- Maker fees fall between 0.04 to 0.4 percent
- The taker fee is between 0.1 to 0.4 percent, plus 2.99 percent for credit card purchases
3) CoinSmart
Founded in 2018, CoinSmart is among Canada’s most trusted and fast-growing cryptocurrency platforms. It allows its users to trade in about a dozen crypto tokens against each other. The reason CoinSmart is one of the best alternatives to Coinbase is that anyone can trade Bitcoin on its platform through fiat. It guarantees that the proceeds arrive in your bank account the same day.
Nevertheless, if you want to trade other cryptocurrencies, you have to first swap them for BTC on the spot exchange.
Features:
- Portfolio tracking lets you track your trading history
- Send, receive, and hold tokens on the exchange
Trading fees:
- 0.20 percent for single trades
- 0.40 percent for double trades
- Up to 6 percent for credit card deposits
- 1.5 percent for e-Transfer
- 0 percent for bank wire and draft
4) Coinmama
Launched in 2013, the exchange is present in 188 countries and serves more than 2.6 million customers. Coinmama is a crypto exchange that provides a straightforward buying and selling experience to investors. It lets users buy cryptocurrency locally for less price. Having said that, it is not a peer-to-peer exchange like LocalCryptos.com and LocalBitcoins but the transactions are between the exchange and the users.
Coinmama facilitates free crypto purchases via bank accounts whereas Coinbase charges 1.49 percent per trade for the same, making it one of the best Coinbase alternatives. Also, if the wire transfer orders are less than $50,000, they are free.
Unfortunately, the exchange only supports three cryptocurrencies – Bitcoin, Ethereum, and Cardano and supports USD, UK Pounds, and Euros currencies. Users can leverage payment methods such as Apple Pay, Visa, PayPal, GooglePay, SEPA, Wire Transfers, and MasterCard Credit Cards.
Features:
- Friendly user-interface
- Simple design
- The loyalty program reduces the fees by 25 percent depending on the transaction volume
Fees:
- 5 percent for credit card transactions
- 3 percent for debit card transactions
- $27 flat fee for SWIFT bank transactions
- Zero fees for those above $1000
5) Xcoins
Xcoins is a peer-to-peer crypto exchange that supports Ethereum, Bitcoin, Litecoin, XRP, and Bitcoin Cash. It is a popular Coinbase alternative for those who use debit/credit cards, and PayPal to buy cryptocurrencies.
It instantly verifies user accounts and is well-known for its top-notch customer service. This Malta-based exchange is present in 167 countries and is highly regulated. Xcoins leverages a lending model where the buyer of BTC takes an order from the exchange and pays via a desired method. Furthermore, the data on the exchange is secured as per the guidelines of the European Union Data Protection standards.
Features:
- Xcoins doesn’t have a digital wallet service. When you place a trade, you receive your tokens in a few minutes
- Can track your order completion status and watch the transaction history from your account
- The account is secured with 2FA (Two-Factor Authentication)
6) Robinhood
Robinhood is a popular US-based crypto, ETFs, and stock exchange. One of the biggest advantages of using this exchange is that it doesn’t charge any commission. For this reason, it has millions of users.
It supports tokens such as Bitcoin, Dogecoin, Ethereum, Bitcoin Cash, Bitcoin BSV, and Ethereum Classic.
Features:
- Low trading costs, access to fractional shares, and cryptocurrency offerings
- With a $5 Robinhood Gold subscription, the exchange allows margin trading and gives access to market depth data, research, and morning start reports
- Is simple and easy to use
- The app is available for both iOS and Android
- Come with recurring investments features with good cash management
Fees:
- Free crypto trading
- $5 for merging trading of up to $1,000
- The account transfer fee is $75
- International wire transfers are up to $50
- $10 per transaction on a live broker fee
Final Thoughts
Transaction fees are crucial to a trader because they can add up quickly and eat into the profits as well. For beginners who trade with small amounts, a high transaction fee might not be a concern, but for high-volume traders, it can translate to hundreds of dollars if not thousands. Coinbase, without a doubt, is an excellent crypto exchange, but its transaction fees are usually higher.
Therefore, a Coinbase alternative that charges less transaction fee, but happens to be as good as Coinbase is an option worth thinking of. We hope this article helped you in finding a great Coinbase alternative.
