8 BEST Binance Alternatives (2024) (2024)

Binance is a popular choice for cryptocurrency traders seeking a variety of features, including a mobile app, a web interface, and a large selection of supported cryptocurrencies. Binance is one of the few exchanges offering margin trading and lending services. It is also one of the main centralized exchanges of the Binance smart chain.

However, this centralized exchange also has some downsides, like it offers only a few cryptocurrency options to trade and is not available to all U.S. states.

Here are some of the Best Crypto exchanges which is capable to replace Binance. Each of these exchanges has its own unique benefits and features, so be sure to compare them before making your choice.

BEST Binance Alternatives

1) Zengo

Best for Keyless Software to make quick purchases

Zengo is a noncustodial mobile crypto trading app with innovative security measures. The app enables you to track your portfolios, access crypto holdings, and earn daily interest rewards. Zengo approves buying crypto using Apple Pay or a credit card. You can also earn interest on crypto holdings by lending to a decentralized liquidity pool and staking your assets.

Features:

• You can track market caps and live prices of the supported cryptocurrencies.
• It offers Keyless Encryption with two separate decryption codes.
• Zengo offers a “Chill Storage” that ensures the users can access their assets if the company ceases to operate.
• The app provides your historical transactions and helps track the flow of funds.

Key Specs:

Payment Options:

It supports Fiat Deposit in key currencies like USD, PAX, XTZ, TUSD, etc. Direct Bank Deposits and Wire are accepted to fund your account. Zengo does not allow you to buy using a Credit/Debit Card as well as PayPal and Apple pay.

Coins & Tokens

• Available Cryptos: 120+
• NFT Support: Yes
• DeFi Support: Yes
• dApps Support: Yes
• Margin Trading: No

Transaction Fees:

• Fees to Trade: 0.75% to 1.99%
• Fee to Buy Crypto: 1.99% to 5.25%

Visit Zengo >>

Free Wallet

2) Uphold

Best for trading and discovering new tokens

With a user base exceeding 10 million spanning across 150 countries, Uphold provides a user-friendly platform for buying, trading, and holding a diverse range of assets, from crypto (over 250) to traditional currencies and precious metals. Uphold’s has a 100% reserve model that safeguards user funds and an openness to transparency, where real-time asset and liability data is publicly available and updated every 30 seconds.

Features:

• Broad range of tokens and earliest token support
• Connected to 26 underlying exchanges to find you the best token prices
• Spend assets anywhere in the world with the Uphold Card (in the UK only)
• Set up automatic, recurring transactions for dollar-cost averaging
• Advanced trading features like take profit and trailing stop loss.
• Send funds to any other Uphold account using just an email address
• Trading: Uphold offers easy one-click trading between any assets.

Key Specs:

Payment Options:

The minimum Deposit or Crypto purchase amount is just $1.

It supports Fiat Deposit in key currencies like USD, EUR, GBP, CAD, AUD, USDC, SGD, BRL, etc. Allows you to buy using a Credit/Debit Card as well as Apple Pay and Google Pay. Direct Bank Deposit and Wire are also accepted to fund your account

How can you Open an Account?

Uphold is available in over 150 countries including US, UK, EU and LATAM. The KYC requirements include a photo of ID issued by the government, a full legal name, and a selfie.

Coins & Token:

• Available Cryptos: 250+
• NFT Support: No
• DeFi Support: No
• dApps Support: No
• Margin Trading: No

Transaction Fees:

• Fees to Trade: 0.8% to 1.5%
• Fee to Buy Crypto: 0

Visit Uphold >>

Free Wallet

3) Coinbase

Best Crypto Platform for Beginners

Coinbase Exchange is one of the largest cryptocurrency trading platforms in the world. Located in San Francisco, the company provides its services worldwide. The exchange is best for beginners in cryptocurrencies and also for intermediate traders. This exchange is s established in 2012 that operates in all U.S. states except Hawaii. Due to its convenience, Coinbase has the highest number of retail investor accounts on this list.

Features:

• Coinbase Exchange is available in most countries around the world.
• To trade crypto at Coinbase, you must fill in your KYC verification when opening an account with them.
• The platform charges deposit, withdrawal, maker, and taker fees, among other fees.
• It has mobile apps for Android and iOS and can be accessed through web browsers.
• The exchange also allows debit card purchases.

Key Specs:

Payment Options:

This cryptocurrency trading platform offers a wide range of deposit methods, including bank transfers, credit and debit cards, PayPal, Apple Pay, Swift, Fedwire, and even cryptocurrency. The platform also accepts several different types of fiats, including the U.S. dollar, Euro, GBP, MXN, HRK, and 10 more.

Direct bank deposits are available using the ACH and SEPA bank transfers. Coinbase supports Fedwire and SWIFT, which are direct bank wire payment methods. The exchange also takes security very seriously and stores 98% of digital assets in offline storage. One of the security measures includes two-factor authentication and KYC, which are required during deposits and withdrawals.

Coins & Tokens:

Coinbase offers a wide range of cryptocurrencies to trade. The platform has over 160 of the most popular cryptocurrencies available for traders to buy, sell, and exchange.

On top of this, it has high liquidity, and all of the major coins, including Bitcoin, Ethereum, Cardano, Solana, and Polkadot, are available. Coinbase also recently started supporting NFTs, which you can purchase on a separate branch that deals with NFTs called the Coinbase NFT. So far, the Coinbase NFT platform has sold 79 NFT with a 1.5 ETH volume.

Transaction Fees:

The transaction fees on Coinbase vary, and the fee structure is somewhat confusing. Coinbase charges trading, deposit, and withdrawal fees on its platform.

The Coinbase trading fees include a 0.50% spread fee plus an additional Coinbase fee that is larger. You also have a flat fee and a variable fee in addition to this. The flat fee is charged for different transactional values. For $10 or less, the fee is $0.99, and the fee continues to increase as the value of the transaction goes up.

The variable fee is charged on the different payment methods available. Debit cards or PayPal get the highest fee of 3.99%. Coinbase withdrawal fees also vary based on the location where you’re trading and the withdrawal method. Network fees are charged separately depending on which blockchain you’re using. For bank transfers it costs 0.15 euros, while U.S. wire transfers cost $25.

Coinbase Pro charges fees that are way cheaper compared to Coinbase. The fees on Coinbase Pro are based on your 30-day trading volume, which means the more you trade, the lower the fees will become.

The highest taker and maker fees are 0.5%, and these apply to the lowest trading volume of between $1 and $10,000. Above that, both the taker and maker fees drop significantly.

Visit Coinbase >>

4) Kraken

Best Low fee exchange

Kraken is one of the first cryptocurrency exchanges on the market, established in 2011. Signing up on the Kraken requires several KYC details, including national I.D., social security number for U.S. clients, a selfie, and proof of residence. You can buy and sell cryptocurrencies in over five different fiat currencies through Kraken.

Features:

• Kraken is available in the United States, Europe, and various other countries.
• The platform supports both Android and iOS mobile apps.
• The exchange supports margin, spot trading, crypto loans, futures, and OTC trading options.
• Users can stake their cryptocurrencies and earn interest on them.
• Kraken allows users to trade USD/JPY and other foreign exchange (currency) pairs.

Key Specs:

Payment Options:

When using bitcoins, there is no minimum deposit requirement at Kraken. Numerous payment options are supported by the site, including bank transfer (ACH), Fedwire, SWIFT, wire transfer, Apple Pay, Google Pay, SEPA, Debit/Credit card (not for U.S. citizens), bank transfer/OSKO, FPS/BACS, CHAPS, and SIC. Fedwire and SWIFT fiat deposits have a $150 minimal deposit amount.

Users can buy crypto with several fiats, including USD, EUR, GBP, JPY, CAD, CHF, and AUD. KYC verification is required in order to deposit and trade on Kraken.

Coins & Token:

The exchange has over 185 cryptocurrencies available, which is relatively small compared to its direct competitors. Unfortunately, Kraken does not support NFT storage or trading. The exchange has most of the world’s top cryptocurrencies, including BTC, ETH, XRP, BCH, EOS, LTC, and ADA. The platform has margin trading in addition to spot, futures, and OTC.

Transaction Fees:

Kraken charge 1.5% per transaction for every buy/sell trade. This fee also applies to any crypto conversion on the exchange. However, if you buy stable coins using another stablecoin, the fee is only 0.9%.

Apart from these fees, Kraken also charges 0.16% maker and 0.26% taker fees for spot trading. These figures reduce when the trading volume increase. Futures trading fees are lower, starting at 0.02% for makers and 0.05% for takers. Margin trading incurs a 0.02% fee that increases by 0.02% every 4 hours.

Visit Kraken >>

5) PrimeXBT

Best Anonymous Exchange

PrimeXBT is known for offering margin trading of cryptocurrencies. It has a wide range of assets beyond cryptocurrencies. With over 40 cryptocurrencies and over 50 forex pairs, PrimeXBT offers commodities and stocks such as TSLA and forex. The platform offers forex, commodities, and stocks in addition to crypto trading.

Features:

• Prime XBT is perfect for experienced traders due to its attention to detail.
• It allows traders to copy the most successfully through a copy trading feature.
• Crypto users are required to provide KYC information in order to use the exchange.
• Trading View Interface: PrimeXBT offers an advanced Trading View interface with comprehensive charting tools and analytical features, catering to both novice and experienced traders.
• Adjustable Leverage: The platform provides leverage trading, allowing users to trade larger positions than their initial capital. PrimeXBT offers up to 100x leverage on cryptocurrencies.
• All-in-One Platform: PrimeXBT is a multi-asset platform enabling users to trade in a wide range of markets, including cryptocurrencies and forex, from a single account.
• Come with Crypto – Trade Traditional Forex Instruments: Users can deposit cryptocurrencies and use them to trade in traditional forex markets, offering a bridge between crypto and conventional financial markets.

Key Specs:

Payment Options:

There are only two deposit methods on PrimeXBT, including cryptocurrency and Credit card. SEPA and Credit card payments can only be used to buy BTC. Accepted crypto deposits include BTC, ETH, USDT, USDC, and COV. The platform does not support PayPal, bank transfers, deposits, or buying crypto with fiats.

Coins & Token:

The platform has only about 50 cryptocurrencies, including BTC, ETH, LTC, and XRP. There is a chance you might miss the crypto you want to invest in on this platform. PrimeXBT does not have support for NFTs and NFT trading. They do, however, offer trading on margin.

Transaction Fees:

Because you cannot own cryptocurrencies on the exchange, there are no costs associated with purchasing them on PrimeXBT. They only offer crypto CFDs. The exchange, however, charges a 0.05% fee for trading cryptocurrency; 0.001% for forex and precious metals, 0.01% for stock indices; and 0.01% for gas and oil commodities trading.

Visit PrimeXBT >>

6) Nexo

Best For Security system

The Nexo exchange has been around for a while. It was launched in 2014 by the Winklevoss twins and is regulated by New York State financial regulators. The Nexo exchange is known for its security and regulatory compliance. The exchange offers more than 90 cryptocurrencies for trading. It also allows deposits in four different methods, including cryptocurrencies.

Features:

• It is available in the United States and the majority of nations around the world.
• Nexo has a mobile crypto app for both Android and iOS systems.
• The platform also has KYC requirements if you want to access its full features.
• The Nexo pay feature allows users to spend their crypto in retail stores.

Key Specs:

Payment Options:

Nexo offers a limited number of deposit methods. They include wire transfers, ACH, debit cards, and crypto. This Binance alternative does not support PayPal or direct bank deposits. Users can purchase crypto on the platform using USD, AUD, CAD, EUR, GBP, SGD, and HKD fiats. Trading on Nexo requires KYC verification.

Coins & Token:

The platform has only about 500+ cryptocurrencies available for trade and does not support NFT storage or trading. They don’t offer trading on margin due to their regulatory oversight.

Transaction Fees:

There are no annual or monthly fees and no application fees.

Visit Nexo >>

7) Gate.io

Best for New Altcoins

Gate.io is one of the best Binance alternatives that offers 1,000+ cryptocurrencies for trading. It stands out as one of the older generation crypto exchanges in the blockchain space. Founded in 2013, this strong competitor of Binance was initially based in China before it moved its base to the state of Virginia, USA, in 2017.

Features:

• It has mobile apps for both Android and iOS. They also have desktop apps for computers.
• They have a KYC requirement for using the Gate.io exchange.
• The platform has a copy trading feature that enables novices to make successful trades.
• It supports spot, margin, futures, and ETFs, among other trading options.
• The exchange also has one-click buying and selling features.

Key Specs:

Payment Options:

The platform allows users to deposit money in fiat currencies, including USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN, RUB, JPY, and ZAR. Gate.io also supports bank account transfers, Credit/Debit Card, and cryptocurrency deposits.

All deposits are subject to varying fees depending on the method you choose to use. Unfortunately, it does not support PayPal.

Coins & Token:

There are over 1000 cryptocurrencies on the exchange. Some of the top ones include BTC, ETH, DOT, BNB, DOGE, and LINK. Gate.io also has a powerful NFT market that allows traders to buy and sell NFTs. Apart from margin trading, the exchange has a spot, ETF, futures, and derivatives trading options.

Transaction Fees:

Gate.io charges a 0.2% fee for both makers and takers. However, this fee reduces as the trading volume increases. The lowest trading fees include a 0.155% maker and a 0.165% taker fee. In futures trading, there is no maker fee. However, takers are charged a 0.05% fee.

Visit Gate.io >>

Things to Consider When Choosing a Cryptocurrency Exchange

When choosing an exchange to trade cryptocurrencies on, it’s essential to consider a few factors:

• The size of the exchange: The bigger the exchange, the more liquidity it will have. This is important because it means you’ll be able to buy and sell cryptocurrencies quickly and at a reasonable price.
• The security of the exchange: Make sure the crypto exchange is secure, with multiple layers of authentication and encryption, and offers cold storage.
• The fees: Check the fees charged by the exchange before you buy or sell crypto, as they can vary quite a bit. Some exchanges charge very low fees, while others charge pretty high ones.
• The supported tokens: Make sure the crypto exchange supports the currencies you want to trade in.
• Payment Methods: Crypto exchanges with more payment methods are generally easier and more efficient.
• Trading Options: There are many trading options from futures, margin, spot, derivatives, and even OTC. The more trading options exchange has, the better it is for market exposure.
• Fiat Support: For onboarding new users to the crypto space, the ability to buy/sell crypto with fiat is an added advantage. Moreover, it makes investing and cashing out more straightforward and quicker in case of emergencies.

FAQ:

BEST Binance Alternatives