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Binance Alternatives – 9 Better Platforms

Find out the major disadvantages of Binance and some exchange platform alternatives with lower fees and more security.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

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 significant disadvantages.

In this guide, we will review where Binance falls short and list the top Binance alternatives that are arguably better platforms when it comes to regulation, features, safety, and fees.

Best Alternatives to Binance in December 2023

  1. eToro: Purchase 120+ cryptos on a regulated platform
  2. Coinbase: Most trusted and widely used platform
  3. Kraken: Reputed Exchange with 7 Supported Fiat Currencies
  4. OKX: Exchange Offering Advanced Financial Analysis Tools
  5. Bybit: Tier 1 Exchange Offering Leverage Trading
  6. Uphold: Simple web and app trading
  7. Huobi: Old Player with strong fundamentals
  8. Comes with NFT marketplace
  9. Bitfinex: Also offers Margin Trading

Top Binance Alternative in December 2023

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Best Binance Alternative in December 2023 – Reviews

1. eToro – Overall Best Binance Alternative

eToro is one of the largest, most trusted cryptocurrency trading platforms globally, 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. In our eToro vs Binance guide, we extensively analyzed how this CopyTrader feature positions the former as a great alternative.

eToro hosts over 20 million users, supporting over 2000 financial assets and short-term, mid-term, and long-term investment options.

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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 and is regulated by CySEC, FCA, GFSC, FinCen, FINRA, and ASIC, which is a relief to all users.

They also have insurance coverage from Lloyd’s London. Thus, the customers may rest assured of any financial issues arising 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. For more details, check out our eToro review.

The eToro Cryptocurrency Trading app and the eToro Money Wallet app are available on both Google Play and the App Store, optimize the desktop version and make it convenient for users to manage and diversify their investment portfolio.

The eToro Wallet is essential as it allows for the sending and receiving digital assets between wallets and can store various types of cryptocurrencies simultaneously. As one of the best crypto wallets, it delivers an instant, safe, and, cost-effective user experience.

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

Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

2. Coinbase – Most trusted and widely used US platform

Coinbase is one of the world’s most well-established, reputed, and trusted cryptocurrency exchange platforms.

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 stop loss orders unavailable on the non-Pro version of Coinbase.

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Bitcoin price chart on Coinbase

The Coinbase mobile wallet is a useful feature that allows users to store various cryptocurrencies, including the ERC-20 tokens, safely.

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, and 2FA system for the user, and 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.

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3. Kraken: Reputed Exchange with 7 Supported Fiat Currencies

As an exchange launched way before Binance, Kraken is one of the most reputed exchanges in the space. Headquartered in San Francisco, the exchange employs around 5000 people and has offices worldwide. Kraken was founded by its current CEO Jesse Powell and is owned by Payward Inc. It is one of the most prominent 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 solid security and multiple features that are being enjoyed by users even today. It has two products. One is the essential Kraken exchange, which is more suitable for beginners in the industry, while the other is Kraken Pro, created for experienced traders and investors. Kraken Pro is a preferred choice, too, since it charges less fee and has advanced trading options.

The FinCEN regulates it in US and FinTRAC in Canada. For other locations globally, too, it is constantly audited by recognized financial institutions. The platform hosts over 120 cryptocurrencies and is an excellent alternative to the Binance exchange.

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4. OKX: Exchange Offering Advanced Financial Analysis Tools

Since 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 allows users over 100% annual interest rate for staking some cryptocurrencies.

Like most prominent cryptocurrency exchanges, OKX provides an active trading facility for moderate to experienced traders and an easy form ideal for learners. OKX has an easy registration process for its users, allowing 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. Advanced financial tools like pool mining, financial analytics, and data analysis can manage investment portfolios on this platform.

OKX Platform

Suppose any user is not acquainted much with the technicalities involved in the crypto market. In that case, he can understand it by using the educational materials offered by OKX Academy on this exchange.

In addition, 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 Web3, DeFi, and GameFi features.

On a side note, OKX also has a DEX platform for those unable to use its CEX.

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5. 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, 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 Bitcoin buy

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, explicitly outlining 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 users are free to use and try out any strategy they prefer without encasing real money.

This benefits beginner 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.

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6. 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 supports over 52 currency formats that offer equities, metals, and other commodities, making it a tailor-made option for those wishing to diversify.

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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.

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7. 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.

Its platform hosts almost 400 cryptocurrencies, 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 features (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- from Bank Account, PayPal, SWIFT, etc., facilitating Crypto to Crypto and Crypto to FIAT.

Huobi Buy Bitcoin

Detailed info on Huobi Platform

Huobi’s base fee is merely 0.2% (maker-taker), and Huobi Token holders may avail of several offers and discounts on 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.

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8. – Includes NFT Marketplace 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. 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, staking. Popular currencies on the platform include Bitcoin, Ethereum, Cardano, Dogecoin, and Polkadot. buy Bitcoin Platform

Another added advantage of opting for as your chosen exchange platform is the option to choose its 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. also offers users the option to stake their cryptocurrency or retain it in the Crypto wallet for a specified period. They may earn up to 14.5% interest on crypto assets.

The 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.


9. Bitfinex – Also offers Margin Trading

Bitfinex is a cryptocurrency exchange platform known for its diverse 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 user usually determines the borrowing terms.

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.

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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, strengthening its security system.

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

What are some advantages of Binance?

Binance is the world’s largest cryptocurrency trading platform. It is incredibly user-friendly because it involves many 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 various 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, an NFT platform, and its tools and services.

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Many options for users on Binance Platform

For spot trading, Binance offers two distinct platforms, each with features that will cater to a specific 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 the latest tech to make trading better

Beyond its ease of use and 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.

New research Binance

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, but 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.

Binance support for currencies

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 significant 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 shocked many traders and investors.

It is the largest cryptocurrency platform based on 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 must be made via the Binance site’s email. 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 money and cannot trade or make investments.

No option for Leverage or CFD trading

It does not offer CFD or leveraged trading. Suppose you are planning to execute many trades. In that case, cryptocurrency CFD trading, a contract that allows you to speculate 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. Instead of owning an asset, you simply speculate on the price of a security without actually owning the digital asset.

Online platforms like eToro have entered the cryptocurrency market in the past two years, offering leveraged positions for significant 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 financial security. And though, Binance has consistently been dominating this sector; we understand that there is a need to consider alternatives to make up 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 a particular cryptocurrency trading platform’s market standing, credibility, and capability.

Supported Cryptocurrencies

Most investors and traders begin cryptocurrency trading to diversify their portfolios and capitalize on different investment opportunities.

By choosing an alternative with various flexible crypto assets and other trading options, we guarantee that the reader chooses a one-stop shop for all trading needs.

Fees and Other Charges

It is essential to consider the amount and nature of fees collected by the cryptocurrency trading platform to determine where the trader receives the 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

Binance Alternatives – Final Thoughts

Binance is undoubtedly an appealing choice, but it has its limitations that a cryptocurrency trading platform like eToro can successfully resolve.

Suppose you are planning to execute many trades. In that case, cryptocurrency CFD trading, a contract that allows you to speculate 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 abovementioned CFD brokers. 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

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  • ASIC, CySEC and FCA regulated - 30 Million Users Worldwide
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  • Staking Rewards for holding ETH, ADA or TRX
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Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

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Are there any sites like Binance?

Yes, there are many sites offering similar services like Binance. Those include Coinbase, Kraken,, 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.

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