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 review where Binance falls short and list 8 Binance alternatives which are arguably better platforms in terms of regulation, features, safety and fees. On this Page:Contents [show] Best Alternatives to Binance in June 2023 eToro: Purchase 120+ cryptos on a regulated platform Kraken: Reputed Exchange with 7 Supported Fiat Currencies OKX: Exchange Offering Advanced Financial Analysis Tools Bybit: Tier 1 Exchange Offering Leverage Trading Uphold: Simple web and app trading Huobi: Old Player with strong fundamentals Crypto.com: Comes with NFT marketplace Coinbase: Most trusted and widely used platform Bitfinex: Also offers Margin Trading Top Binance Alternative in June 2023 Invertir Invest $ = Bitcoin Actualizar More Filters Close Filters Sort By Rating Price 1 Provider that match your filters Providers that match your filters Payment methods Credit Card Paypal Sepa Transfer Skrill Sofort Giropay Neteller Features Instant Verification For Beginners Wallet Service Mobile App Usability Very Good Good Average Bad Support Very Good Good Average Bad Rates 1or more Security 1or more Selection of Coins 1or more Classification 1or more Remove Filter Apply Filter No results found Trying adjusting the filter to see some results. Rating with $1000 you receive 0.0572 BTC What we like Easiest to deposit Most regulated Copytrade winning investors Rates Security Selection of Coins Features Payment methods with $1000 you receive 0.0572 BTC Read Reviews Buy Crypto Read Reviews 68% of retail CFD accounts lose money. Best Binance Alternative in June 2023 – Reviews 1. eToro – Overall Best Binance Alternative eToro is one of the largest, most trusted cryptocurrency trading platforms across the globe, offering traders a unique opportunity to make transactions with its premium features. eToro is a leading platform that is user-friendly and easy to use. This is suitable for beginners and experts alike, as the trading experience can be altered based on the user’s needs, striking the right balance. For example, the CopyTrader feature allows novice traders to follow the strategies of more advanced traders with years of expertise. eToro hosts more than 20 million users as it supports more than 2000 different financial assets along with short-term, mid-term, and long-term investment options. eToro Platform eToro is also primarily regarded as a safe option for cryptocurrency traders and investors as it is also allowed in the USA. eToro has not had such widespread regulatory issues as Binance has and is regulated by CySEC, FCA, GFSC, FinCen, FINRA, and ASIC, which comes as a relief to all users. They also have insurance coverage from Lloyd’s London. Thus, the customers may rest assured in case of any financial issues that may arise in the platform’s future. Along with having a conversion fee of merely 0.1%, eToro also supports various payment options such as Debit/Credit Cards, Wire Transfer, PayPal, etc., allowing users from any corner of the world to get into cryptocurrency trading with the click of a button. The eToro Cryptocurrency Trading app and the eToro Money Wallet app available on both Google Play and the App Store optimize the desktop version and make it convenient for the user to manage and diversify their investment portfolio. The eToro Wallet is essential as it allows for the sending and receiving of digital assets between wallets and can store various types of cryptocurrencies simultaneously. eToro’s excellent customer service with instant response and resolution proves its commitment to customer satisfaction. eToro is the most suitable platform for crypto trading and investing due to its stellar reputation and good business practices. Visit eToro Your capital is at risk 2. Kraken: Reputed Exchange with 7 Supported Fiat Currencies As an exchange that was launched way before Binance, Kraken is one of the most reputed exchanges in the space currently. Headquartered in San Francisco, the exchange employs around 5000 people and has offices all over the world. Kraken was founded by its current CEO Jesse Powell and is owned by Payward Inc. It is one of the biggest players in the exchange category and is currently the third-largest option by volume traded. Created in 2011, Kraken was officially launched in 2013, with strong security and multiple features that are being enjoyed by users even today. It has two products. One is the basic Kraken exchange, which is more suitable for beginners in the industry while the other is Kraken Pro, which is created for experienced traders and investors. Kraken Pro is a preferred choice too since it charges less fee and has advanced trading options. It is regulated by the FinCEN in US and FinTRAC in Canada. For other locations across the globe too, it is constantly audited by recognized financial institutions. The platform hosts over 120 cryptocurrencies and is a great alternative to the Binance exchange. Visit Kraken 3. OKX: Exchange Offering Advanced Financial Analysis Tools From its launch in 2017, OKX, a crypto exchange with headquarters in Malta, has supported millions of customers from more than 100 countries. The exchange offers multiple classes of financial assets along with new altcoins like Tamadoge on its platform. Its trading fees commence from 0.10% and reduce as transaction volumes or stakes in OKX’s currency, the OKB token, rise. The exchange provides its users with the opportunity of getting more than 100% annual interest rate for staking some cryptocurrencies. Much like most major cryptocurrency exchanges, OKX provides both an active trading facility for moderate to experienced traders and an easy trading form that is ideal for learners. OKX has an easy registration process for its users and allows them to purchase crypto assets in a matter of minutes with their credit or debit card, bank account transfer, Apple Pay, Google Pay, and other payment options. Through its asset analysis feature, OKX gives its users their portfolio’s profit and loss (PnL) performance trend for a specified duration of time. The investment portfolios on this platform can be managed by advanced financial tools like pool mining, financial analytics, and data analysis. OKX Platform If any user is not acquainted much with the technicalities involved in the crypto market, then he can understand it by making use of the educational materials offered by OKX Academy on this exchange. In addition to it, the exchange has unique semi-offline multi-signature technology for ensuring the complete protection of crypto assets of their users. For keeping their cryptocurrencies safe and secure in one place, OKX offers a robust OKX wallet to its users, which encapsulates different features of Web3, DeFi, and GameFi. On a side note, OKX also has a DEX platform for those unable to use its CEX. Visit OKX 4. Bybit – Tier 1 Exchange Offering Leverage Trading Bybit is one of the industry leaders in futures trading. It is a leading tier 1 cryptocurrency exchange platform that has adopted flexible strategies catering to the customer’s convenience. Currently ranked among the top 5 crypto exchanges as per Coinmarketcap, Bybit is one of the fastest-growing crypto companies in the world. Bybit being a cryptocurrency derivatives exchange platform offers up to 100x leverage on cryptos, making it a favourite of experienced traders. At the same time, it is also a preferred platform for buying spot cryptocurrencies. Its charges are based on maker-taker fees, giving it an advantage over platforms like eToro. Fees for spot trading are close to 0.1%, whereas rebates for limit orders for margin trading are approximately 0.025%. It gives the user the option of using a demo account wherein they are educated thoroughly on the functions and processes involved in futures trading. Bybit has the chance of USDT and perpetual inverse contacts. A bonus is that it offers referral incentives and affiliate programs which could be a source of passive income. At the time of writing, newly registered users have the chance to get a bonus of 5030 USDT. Bybit Platform Bybit also has a top-notch security system using SSL communication, 2FA, and a highly-developed Mark and Index pricing system. It is equipped to handle more than 100,000 transactions per second and has built-in Tradingview charting tools and indicators, which are helpful for Technical Analysis (TA). Bybit Learn is a vital charting tool for beginners, specifically, which outlines the market trends, fluctuations, and strategies enabling the customer to make a suitable investment. Another unique feature of Bybit is its test net site, wherein a user is free to use and try out any strategy they prefer without encasing real money. This is beneficial for beginners who may not be comfortable with trading instantly and would like to understand the workings of the cryptocurrency market better. The Bybit app is available on both Google Play and the App Store. Visit Bybit 5. Uphold – Perfect platform for beginners Uphold is the perfect platform for beginners, as its application is more suited to novices than those with advanced trading knowledge. Uphold hosts a debit card and wallet service but is increasingly gaining popularity as a crypto trading platform. The fees are standard compared to many other up-and-coming trading platforms, with the top line being 1.25%. Interestingly, Uphold charges no convenience fee for stock transactions made via bank account transfer. Uphold boasts of supporting over 52 currency formats that offer equities, metals, and other commodities, making it a tailor-made option for those wishing to diversify. Easy UI and information on Uphold Platform While the Uphold Platform has ample security measures like the 2FA, a cold storage option, insurance against potential breach or theft, and a bug detection program, the Wallet app has effective private key encryption and the 2FA. The Wallet App is available on both Google Play and the App Store. Visit Uphold 6. Huobi – Old player with strong fundamentals Huobi is quickly rising to the top of the charts regarding its cryptocurrency options since its launch in 2013. Huobi Global exchange allows its customers to buy/sell/stake/borrow a variety of cryptocurrencies, making this an investing-trading hub. It hosts almost 400 cryptocurrencies on its platform, making it a hot pick for most traders looking for range and diversification. It also has a free trading bot which is quite unique, both spot and margin trading feature (derivatives on leverage), a mobile app, and a welcome bonus. A particular advantage for beginners or short-term traders that Huobi offers is its liquidity. It offers liquidity in its ETH/USDT and BTC/USDT pairs making this platform a popular choice. Huobi exchange has close to 1000 global trading pairs, for which the payment methods are flexible- ranging from Bank Account, PayPal, SWIFT, etc., facilitating Crypto to Crypto and Crypto to FIAT. Detailed info on Huobi Platform Huobi’s base fee is merely 0.2% (maker-taker), along with which Huobi Token holders may avail several offers and discounts on the trading fees. Along with OTC trading, it has launched its native token- HADAX. Huobi Autonomous Digital Asset Exchange (HADAX) is the first. The autonomous feature of this function allows users and developers to vote on the nature of altcoins that are listed and traded on the platform. Visit Huobi 7. Crypto.com – Includes NFT Marketplace Crypto.com is a cryptocurrency trading platform that allows users to access a variety of investment avenues in an instant. The venue hosts crypto trading, staking, swapping, NFTs, etc. With a clientele of over 10 million users from over 90 different countries, it is the right choice for beginners and experts alike. Crypto.com outmatches many of its competitors with its low trading fees of 0.40%, which may be further reduced by availing discounts. For spot trading, it supports over 250 currencies, including, but not limited to, for staking. Popular currencies available on the platform include Bitcoin, Ethereum, Cardano, Dogecoin, and Polkadot. Crypto.com Platform Another added advantage of opting for Crypto.com as your chosen exchange platform is the option to choose it’s native coin CRO. While holding a sizeable portion of CROs, you are entitled to lower trading fees, increased interest rates for staking, and impressive credit card reward points. Crypto.com also offers its users the option to stake their cryptocurrency or retain it in the Cryptowallet for a specified period. They may earn up to 14.5% interest on crypto assets. The Crypto.com app is available on Google Play and the App Store and is the best choice for those who want to engage in a hassle-free trading experience. Visit Crypto.com 8. Coinbase – Most trusted and widely used platform Coinbase is one of the most well-established, reputed and trusted cryptocurrency exchange platforms in the world. It supports over 100 cryptocurrencies, (as well as ERC-20 tokens like USDC so far), but what makes it the first choice for most beginners is its flexible payment methods such as PayPal, bank account transfer, or via debit/credit card. Coinbase exchange charges a deposit fee of 3.99% when using a debit card which is high compared to other platforms. However bank transfers have a lower fee. There is also an option to use Coinbase Pro which usually caters to professional traders, with more trade types and limit orders (0.1% fees) and stoploss orders which are not available on the non-Pro version of Coinbase. Bitcoin price chart on Coinbase The Coinbase mobile wallet is a useful feature that allows users to safely store a range of cryptocurrencies, including the ERC-20 tokens. Undoubtedly, Coinbase has one of the most efficient security measures of all cryptocurrency measures. Coinbase enables a delayed withdrawal lock, multi-signature login, Google Authenticator link-up, 2FA system for the user, and most significantly, 98% of the coins are held in cold storage offline in safe-deposit boxes. However, one of the most critical concerns of Coinbase is its customer service; it falls short in this aspect compared to its competitors as customer support is slow to resolve issues. Many users also have their Coinbase account locked for seemingly no reason as Coinbase is stricter with ID document requirements and KYC than other crypto exchanges. Visit Coinbase Your capital is in risk 9. Bitfinex – Also offers Margin Trading Bitfinex is a cryptocurrency exchange platform that is most known for its diverse range of trading options such as margin accounts, spot trading, derivatives etc. Bitfinex exchange is famous for its capability to cater to the needs of a diverse user base, from beginners to experts. It hosts over 50 trading pairs and features a sophisticated, efficient GUI. Along with OTC services, derivatives trading, staking, and lending, Bitfinex’s P2P margin trading platform offers leverage of up to 3.3x, and the terms of borrowing are usually determined by the user. Its main advantage is its low trading fees only up to 0.20%, which puts it far ahead in the market. It is extremely liquid and guarantees a low spread, reassuring new traders. Bitfinex platform Bitfinex also provides advanced charting tools and API access. The platform is also largely customizable, these features make it incredibly user-friendly and convenient to use. It has a robust verification process involving a KYC, making their security system stronger. But it has had a history of violating regulations. It has also been fined for allowing unlicensed exchanges and promoting unauthorized off-exchange transfers. This may be worrisome for many traders and investors, so it is recommended to exercise due caution before using the platform. Visit Bitfinex Compare Binance Alternatives Etoro-ETH Buy Crypto 68% of retail CFD accounts lose money.... Bybit Buy Crypto The price and value of any investment in digital asset products can fluctuate.... Binance Buy Crypto As with any asset, the values of digital currencies may fluctuate significantly.... KuCoin Buy Crypto The traded price of digital tokens can fluctuate greatly within a short period of time.... Coinbase Buy Crypto The value of digital currencies can go up or down frequently.... Bitfinex Buy Crypto Market prices for digital tokens can be volatile and highly unpredictable.... Rating 5 5 4.5 5 4.5 4.5 Mobile App 10/10 9/10 9/10 8/10 9/10 8/10 Features For Beginners Instant Verification Mobile App Wallet Service Coin Selection 0 0 0 0 0 0 Rates Trading fees Spreads0.1%0.1%0.1%0.50%0.1% Deposit fees N/AN/AN/AN/AN/AN/A Withdrawal fees $50.0005 BTCN/AN/AN/AN/A Additional features Regulated ASIC, CySEC, FCAN/AFCAN/AFCAN/A Min.Deposit $50N/A$10N/A$2$10 Leverage N/A1 - 100x1 - 100x1 - 100xN/A1 - 10x Latest prices by currency Bitcoin $25653$25653$25653$25653$25653$25653 Ethereum $1729.59$1729.59$1729.59$1729.59$1729.59$1729.59 XRP $0.492179$0.492179$0.492179$0.492179$0.492179$0.492179 Tether $1.001$1.001$1.001$1.001$1.001$1.001 Litecoin $77.02$77.02$77.02$77.02$77.02$77.02 Bitcoin Cash $99.9$99.9$99.9$99.9$99.9$99.9 Chainlink $5.12$5.12$5.12$5.12$5.12$5.12 Cardano $0.241999$0.241999$0.241999$0.241999$0.241999$0.241999 IOTA $0.14814$0.14814$0.14814$0.14814$0.14814$0.14814 Binance Coin $237.27$237.27$237.27$237.27$237.27$237.27 Stellar $0.081494$0.081494$0.081494$0.081494$0.081494$0.081494 Bitcoin SV $24.36$24.36$24.36$24.36$24.36$24.36 Payment methods Credit Card Giropay Neteller Paypal Sepa Transfer Skrill Sofort What are some advantages of Binance? Binance is the world’s largest cryptocurrency trading platform. It is incredibly user-friendly because it involves a greater variety of trading options and features. Depending on their prior experience and expertise, investors may encounter a significant learning curve with Binance. Variety of Cryptocurrencies Binance offers a comprehensive range of trading options, including an excellent variety of cryptocurrencies. Users could also choose from several trading choices, such as futures and options trading, as well as a handful of other categories. Binance also provides a complete learning platform, as well as an NFT platform, in addition to its tools and services. Many options for users on Binance Platform For spot trading, Binance offers two distinct platforms, each with a set of features that will cater to a certain clientele, to cater to both novices and seasoned traders in terms of trading experience. Each platform features superb charting tools and a variety of technical indicators to help you maximize your investment. Low trading fees Another advantage of Binance is its low trading fee of 0.1% when making a trade; this fee can be further reduced by 25% if the user trades in Binance’s cryptocurrency- BNB. Using latest tech to make trading better Beyond its ease of use and its adaptability to new users, Binance enhances its industry reputation by granting access to the MetaTrader 4 trading application. This platform enables a trader to get real-time, instantaneous, accurate updates about the rising trends and nature of the cryptocurrency market. Supporting new research and developments It is also very fluid in its presence as it caters to novice traders by providing the option of consulting “Expert Advisors”, so that they may benefit from professional, verified advice. Top-notch security Binance also has some of the best security features. While it is available in many countries and is actively working on formalized regulation, its main priority has been securing its customers’ funds. Users have access to the Google Authenticator 2FA to protect their investments. The Binance TrustWallet is one of the most sought-after storage options in the cryptocurrency market due to its high-tech, advanced security features. The multicurrency wallet also supports several blockchains and tokens, making the platform highly convenient to users. Seamless payments & Withdrawals Not only does it offer you more liquidity, it is a P2P platform that is also somewhat flexible in its payment options as it allows the user to make trades using debit and credit cards and via FIAT. But while Binance is the industry leader and is a suitable choice for many budding traders, it also has a few disadvantages. Whether these disadvantages may be deal breakers remains to be seen. To give our readers a comprehensive analysis, we map the potential problems one may face with Binance. 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: Prone to Glitching Binance has often been prone to issues relating to glitching, outages and malfunctioning. These glitches have often resulted in unprecedented trading losses, making the platform vulnerable to lawsuits and other legal troubles. Binance’s repeated plunges and mistaken crashes in the cryptocurrency market have left many traders and investors shocked. It is the largest cryptocurrency platform on the basis of volume traded. Yet, it remains to be seen whether Binance is well-equipped to handle such high volumes of trade. Difficulty in obtaining legal sanction Binance has had a history of running into legal trouble in countries all around the globe, especially in the USA. It has routinely been in the news for allegations of money laundering, tax evasion, and insider trading, which could negatively impact crypto prices. Its unavailability in seven states in the USA as well is problematic. The lack of a systemized regulatory mechanism has proved to be disadvantageous. Binance does not have a specific headquarters making it difficult for investors to place their trust in the platform, as it is difficult to take legal recourse. Customer Service Most support requests and problem-solving have to be done via the Binance site’s email form. This creates a massive problem for the users, resulting in a delayed response. The customer service bot chat is also inefficient as most replies are automated and are often in Chinese. Another major issue concerning Binance is its potentially faulty account verification and 2FA services. Customers have reportedly struggled to withdraw their money and have not been able to trade or make investments. No option of Leverage or CFD trading 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. 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 How we analyzed the best Binance alternatives Cryptocurrency trading is one of the most sought-after forms of ensuring one’s financial security. And though, Binance has consistently been dominating this sector, we understand that there is a need to consider alternatives to make for the shortfalls in Binance. We have majorly conducted our analysis on the following metrics- Safety and Security While dealing with markets as volatile and anonymous as the cryptocurrency exchange market, it is essential to ensure that your digital assets and information are well secured. Many cryptocurrency trading platforms have been victims of hacking and security breaches. While considering alternatives, we compare the effectiveness of their security measures and outline any specific weaknesses or areas in which a particular platform lacks. Trading Volume Analysis This is a significant indicator that is researched thoroughly. This metric is considered to fully understand the market standing, credibility, and capability of a particular cryptocurrency trading platform. Supported Cryptocurrencies Most investors and traders begin cryptocurrency trading to diversify their portfolios and capitalize on different investment opportunities. By choosing an alternative with a variety of flexible crypto assets and other trading options, we are guaranteeing that the reader chooses a one-stop-shop for all trading needs. Fees and Other Charges It is important to consider the amount and nature of fees collected by the cryptocurrency trading platform to determine where the trader receives highest profit. Upfront fees and charges are more suited than hidden charges that may materialize throughout trading and reduce customer satisfaction. Binance News – Latest Updates in 2023 SEC probes Binance US over links with two market makers Binance CEO Changpeng Zhao says crackdown on crypto ads will not affect demand Binance becomes exclusive cryptocurrency sponsor for AFCON Pakistan investigating Binance for involvement in multi-million dollar scam Ontario Securities Commission reprimands Binance for misinforming Canadian users Binance Alternatives – Final Thoughts Binance is undoubtedly an appealing choice, but it has its limitations which a cryptocurrency trading platform like eToro can successfully resolve. 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 is not offered on Binance, so we recommend trying the CFD brokers we listed above. eToro.com is our recommendation for the best, most reliable alternative to Binance as its disadvantages are fewer than the attractive benefits it offers. It is an essential choice due to its ability to dually provide top-class features to beginners and experts for short-term and mid-term traders and those prioritizing highly liquid assets. eToro - Our Recommended Crypto Platform Our Rating ASIC, CySEC and FCA regulated - 30 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 Professional Crypto Traders Buy Crypto 81% 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.
