While cryptocurrency exchanges offer a range of digital assets to trade and the ability to store crypto coins on electronic wallets, these exchanges are exposed to security threats and often charge high fees and commissions. Binance, for instance, is the world’s largest cryptocurrency exchange but it has some major disadvantages. In this guide, we will explain where Binance falls shorts and provide 5 Binance alternatives which offer better platforms, safety and fees. On this Page:Contents [show] Best Alternatives to Binance eToro: Purchase 120+ cryptos on a regulated platform Uphold: Simple web and app trading Plus500: Trade over 2,000 assets. Best choice for European customers Libertex: Crypto trading with CFDs Forex.com: U.S. broker with super low fees on crypto trading What are some of the disadvantages of Binance? Overall, Binance is a decent cryptocurrency exchange. It offers more than 150 coins, it provides a crypto e-Wallet for its traders and has an advanced user-interface. But the biggest cryptocurrency exchange in the world has some major flaws: Binance is restricted in 29 countries, including the United States Binance, similarly to any other cryptocurrency exchange, is exposed to hacking Binance only provides market and limit order The platform is complicated and complex Limited deposit and withdrawal options CFD trading unavailable Though Binance is one of the most reasonable cryptocurrency exchanges, it has some notable disadvantages. One of the such disadvantages is that it does not offer CFD or leveraged trading. If you are planning to execute a large number of trades, cryptocurrency CFD trading, a contract that allows you speculating on the price of an asset without owning the security, can be a better alternative to buy Ethereum with PayPal and holding tokens. The benefits of CFD trading are that you can trade on margin and instead of owning an asset, you simply speculate on the price of a security without actually owning the digital asset. In the past two years, online platforms such as eToro have entered the cryptocurrency market, offering leveraged positions for major digital assets. Below, we will explore such platforms, and explain why they are fantastic alternatives to Binance. Top Binance Alternative in January 2022 InvestInvest$=BitcoinRefreshMore FiltersSort ByRating1 Providers that match your filtersPayment methodsCredit CardGiropayNetellerPaypalSepa TransferSkrillSofortFeaturesInstant VerificationFor BeginnersWallet ServiceMobile AppUsabilityVery GoodGoodAverageBadSupportVery GoodGoodAverageBadFees1 or betterSafety1 or betterCoin selection1 or betterRating1 or betterClear Filter Ratingfor $ 1000 you get0.0301BTCWhat we likeEasiest to depositMost regulatedCopytrade winning investorsFeesSafetyCoin selectionFeaturesPayment methodsfor $1000 you get0.0301 BTCRead ReviewBuy CryptoRead Review68% of retail CFD accounts lose money. Compare Binance Alternatives Visit Site68% of retail CFD accounts lose money.Visit Site75% of retail CFD accounts lose money. Capital.com does not offer accounts to US residents.Visit Site74% of retail investor accounts lose money when trading CFDs with this provider.Visit SiteThe price and value of any investment in digital asset products can fluctuate.Visit SiteThe traded price of digital tokens can fluctuate greatly within a short period of time.Visit SiteMarket prices for digital tokens can be volatile and highly unpredictable.Visit SiteAs with any asset, the values of digital currencies may fluctuate significantly.Visit SiteThe value of digital currencies can go up or down frequently.Visit SiteTrading leveraged products may not be suitable for all investors.Visit Site71% of retail CFD accounts lose money.Visit Site72% of retail CFD accounts lose money.Rating5.04.94.84.220.127.116.11.18.104.22.168Mobile App Rating10/108/109/109/108/108/109/109/109/109/108/10FeaturesMobile AppWalletNumber of Coins12817592233113750401556FeesTrading FeesSpreadsSpreadsSpreads0.1%0.1%0.1%0.1%0.50%SpreadsSpreadsSpreadsDeposit FeesN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWithdrawal Fees$5N/AN/A0.0005 BTCN/AN/AN/AN/AN/AN/AN/AExtrasRegulatedASIC, CySEC, FCAASIC, CySEC, FCACySECN/AN/AN/AFCAFCAN/ACBI, MiFIDFCAMin. Deposit$50$20100 EURN/AN/A$10$10$2N/A$100$100Leveraged TradingN/A1 - 30xN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1-100x1 - 30x1 - 30xLatest Prices (per Coin)Bitcoin$37232.07$37265.57$37377.26$37256.26$37222.20$37223.48$37187.08$37201.16$37786.77$37358.64$37231.23Ethereum$2489.57$2445.59$2460.25$2444.98$2445.36$2444.37$2441.81$2443.07$2504.23$2451.70$2442.53XRP$0.62$0.60$0.61N/A$0.23N/A$0.60$0.30$0.62$0.61$0.60Tether$1.00$1.00N/A$1.00$1.00N/AN/A$1.00$1.01N/A$1.00Litecoin$109.38$107.45$107.88N/A$107.47N/A$107.47$107.40$110.02$107.98$107.36Bitcoin Cash$294.19N/A$292.45N/A$506.41N/A$288.71$288.94$293.03$292.31$285.09Chainlink$15.58N/A$15.61N/A$15.17N/A$15.57$15.59N/A$15.81$15.50Cardano$1.07$1.04$1.05N/A$1.03N/A$1.04$1.04$1.05N/A$1.04IOTA$0.84N/A$0.81$0.80N/A$0.80$1.91$1.91$0.83$0.82$0.78Binance Coin$393.54$452.69$384.51$384.42N/AN/A$384.13N/A$387.97N/AN/AStellar$0.20$0.20$0.20N/A$0.20$0.08$0.20$0.20$0.20$0.20$0.20Bitcoin SV$89.19N/A$88.66N/A$182.50N/AN/AN/A$89.19N/A$88.33USD Coin$1.01N/AN/AN/A$1.00N/AN/AN/AN/AN/A$1.00EOS$2.31N/A$2.26$2.24$2.23$2.25$2.25$2.24$2.28$2.28$2.23Monero$145.59N/A$146.17$144.26N/AN/AN/AN/AN/AN/A$124.02Payment methodsCredit CardGiropayNetellerPaypalSepa TransferSkrillSofort eToro - Best Trading Platform for Beginners eToro, one of the largest social online trading platforms in the world with more than 4.5 million users worldwide, has recently added cryptocurrency trading to its platform. In 2018, the broker has opened its doors to traders in the United States, allowing them to trade over 15 crypto coins. eToro is considered among the safest cryptocurrency online trading platforms as it is regulated by CySEC, FCA, and ASIC. Moreover, the award-winning broker is the ideal trading platform for beginners as well as experienced traders. Cryptocurrencies supported: Bitcoin, Ethereum, Bitcoin Cash, Ripple, DASH, Litecoin, Ethereum Classic, Cardano, IOTA, Stellar, EOS, NEO, Tron, ZCASH, Binance Coin, and Tezos. Demo Account: Available Educational Material: Yes Fees: Buy and sell spread. There are no withdrawal fees and no fees for sending or receiving transactions. eToro charges a conversion fee of 0.1%. Minimum deposit: $200. Special Features: CopyTrader tool that enables users to copy top-traders. eToro offers the eToro Wallet that enables users to hold multiple types of cryptocurrencies, send and receive digital assets from and to other Bitcoin wallets. Regulation: CySEC, FCA, and ASIC Payment methods: Visa, MasterCard, Diners, Visa Electron, Maestro, PayPal, Neteller, Skrill, Rapid Transfer, Wire Transfer, Sofort, and China Union Pay. Our Rating Unlike Binance, eToro offers cryptocurrency trading to US residents Unlike Binance, eToro is a social trading exchange which is great for beginners Different from cryptocurrency exchanges, eToro is highly regulated and ensures clients' funds are safe eToro offers a narrow selection of coins compared to Binance eToro does not offer crypt-to-crypto pairs Visit eToro 68% of retail investor accounts lose money when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection. Uphold Exchange Platform & App Uphold - Simple web and app trading Uphold are a well-known increasingly popular app, debit card and wallet service, that also have an exchange website. It's known for quick, convenient crypto trades suited to beginners or people on-the-go, rather than daytraders. Our Rating Also supports metals, stocks, currencies No deposit or withdrawal fees Debit card has 2% cashback for crypto purchases Paypal not yet supported 50+ cryptos is less than other major exchanges Visit Uphold Libertex - Best Crypto Broker with Low Minimum Deposit Founded in 1997, Libertex is one of the first CFD brokers in the industry to offer online trading and is regulated and supervised by CySEC. Though Libertex operates in most countries around the world, the broker does not accept customers from the United States, Japan, Brazil, Iran, etc. See the full list of restricted countries here. Cryptocurrencies supported: Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, DASH, Ripple, IOTA, NEO, OmiseGo, Quantum, Monero, Tron, ZCASH, Stellar, and Cardano. Demo Account: Available Educational Material: Yes Fees: There are two types of fees and commissions charged by Libertex - Transaction fee (buy and sell spread), and Rollover (overnight) fee. Minimum deposit: 100 EUR Special Features: Libertex offers the MetaTrader4 and MetaTrader5, the most popular trading platform in the market, which enables traders to automate their trading. Regulation: CySEC, FSCA Payment methods: Credit/debit card, Skrill, Sofort, Neteller, Wire transfer, GiroPay, Trustly, iDeal, and Rapid. Our Rating Unlike Binance that has a complicated web-baseed trading platform, Libertex offer the most popular trading platform in the market , the MetaTrader4 Unlike Binance, Libertex offer a demonstration account Libertex is highly regulated and ensures clients' funds are safe Libertex does not accept customers from many countries in the world including the United States Libertex charges an overnight fee Visit Libertex Forex.com - Best Binance Alternative Platform in the US As we mentioned previously, Binance is not available to US residents, so if you are located in the United States, Forex.com is one of the best options to trade cryptocurrencies. Though the broker offers a selection of five crypto coins, it has the lowest costs in the industry on cryptocurrency trading. Forex.com operates for two decades since 1999 and is highly regulated by top regulators that include the Financial Conduct Authority (FCA) in the UK, Financial Services Authority (FSA) in Japan, Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the US, Investment Industry Regulatory Organization of Canada (IIROC), and the Australian Services and Investments Commission (ASIC). Cryptocurrencies supported: Bitcoin, Ethereum, Bitcoin Cash, Ripple, and Litecoin. Demo Account: Available Educational Material: Yes Fees: In terms of trading fees, Forex.com charges a buy and sell spread. Additional fees include an inactivity fee of $15. Minimum deposit: $50. Special Features: Forex.com offers a selection of the best trading platforms including MetaTrader4 and MetaTrader5. Moreover, the broker offer VPS Hosting which is a tool that allows users to automated trading with Expert Advisors (EA) on a Virtual Private Server (VPS). Regulation: FCA, FSA, CFTC, NFA, and ASIC Payment methods: Credit/Debit card, and Wire transfer. OUR RATING While Binance is not available to US residents, Forex.com accepts traders from the US Forex.com is regulated by top regulators worldwide including financial authorities in the United States Unlike Binance, Forex.com offers an advanced trading platform and VPS automated trading tool Forex.com offers a low selection of cryptocurrencies compared to Binance Unlike Binance, Forex.com charges and inactivity fee Visit Forex.com How we analyzed the best Binance alternatives Binance is a good centralized cryptocurrency exchange. The world’s largest cryptocurrency has more than 15M users and supports more than 150 coins. And yet, every platform has a downside. Binance is not available to US residents, the platform is a bit complicated and the exchange is exposed to security hacks. That is why we genuinely believe that eToro may be a better platform to trade cryptocurrencies. If you want to find out more about the trading platform make sure you check out our eToro review. Safety and regulation: eToro is regulated by CySEC, FCA, and ASIC. That ensures that clients’ funds are being held in segregated bitcoin account and investors will be compensated in the event of default. Usability: eToro offers the most user-friendly social trading platform. The fact that you will be able to copy other top-performing traders and connect with other members makes this platform a great choice. Supported countries: eToro is the only broker that offers its cryptocurrency trading services to traders in most countries including the United States. Fees: While most of the brokers do not charge any hidden fees and maintain a fair commission structure, eToro is the only broker (including Binance) that does not charge any fees associated with cryptocurrency trading. Binance alternatives – Final Thoughts If you are planning to execute a large number of trades, cryptocurrency CFD trading, a contract that allows you speculating on the price of an asset without owning the security, is a better alternative to buying and holding tokens. CFD trading, however, is not offered on Binance, therefore, we recommend trying the CFD brokers we listed above. At the time of writing, these are the best alternatives for Binance: eToro, Plus500, Libertex, and Forex.com. These brokers enable you to take part in Bitcoin trading without having to pay exchange fees and the complicated process of storing your crypto coins on digital wallets. Not only that, but CFD brokers are considered to be a safer option than cryptocurrency exchanges in terms of regulation and cyber threats. eToro - Our Recommended Crypto Platform Our Rating ASIC, CySEC and FCA regulated - 20 Million Users Worldwide Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort Free Demo Account, Social Trading Community Free Secure Wallet - Unlosable Private Key Staking Rewards for holding ETH, ADA or TRX Copytrade Winning Crypto Traders - 83.7% Average Yearly Profit Buy Crypto 68% of retail investor accounts lose money when trading CFDs with this provider. Read more: Binance review Coinbase review How to buy Bitcoin with credit card FAQs Are there any sites like Binance? Yes, there are many sites offering similar services like Binance. Those include Coinbase, Kraken, CEX.io, and many more. However, these exchanges charge high fees and require a long registration procedure. Why is Binance so expensive? Binance is a cryptocurrency exchange, meaning it offers cryptocurrency trading, storage, and full operation of an exchange. Therefore, the largest cryptocurrency exchange in the world charges various fees to cover costs such as trading fees, deposit and withdrawal fees, conversion fees, and transaction fees. On the other hand, CFD brokers such as eToro enable you to trade with lower trading costs. Is Binance unsafe? Generally speaking, Binance is one of the most secure cryptocurrency exchanges in the world. And yet, it was subjected to hacking attacks numerous times in the past few years. What's the benefit of trading crypto currencies via a CFD broker? Different from cryptocurrency exchanges where you physically trade a digital asset and have to store it, CFD brokers enable you to speculate on the price of a cryptocurrency without having to own the coin. Some of these brokers also offer leverage, meaning you will be able to trade with a higher capital than initially deposited.