7 Best Coinbase alternatives in 2020

Best Coinbase Alternatives
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In this article, I’m going to explaining the 7 best Coinbase alternatives that exist in the current cryptocurrency industry. Coinbase is a top Bitcoin & cryptocurrency broker and exchange operated since 2014.

In most cases, crypto beginners use Coinbase to buy Bitcoin and cryptocurrency with fiat currency, exchange some of the cryptocurrencies with each other, and wallet service.

I will explain the best alternatives to the Coinbase exchange. Also, Coinbase has some of the issues and limitations, let’s find out,

Coinbase issues and limitations

There are few issues and limitations involving, let’s find out what it is,

  • Coinbase is a popular cryptocurrency exchange in the crypto industry but it supports the few countries for buying Bitcoin and few altcoins with fiat currency
  • Some users are complaining in Reddit and Twitter that Coinbase charges high fees when buying a little amount of Bitcoin and other altcoin but Coinbase clearly shows the fees associated with the transaction
  • Coinbase is the US-based regulated cryptocurrency exchange, therefore, it asks a lot of personal details to increase the spending limits, in this case, users are not willing to given that info
  • It only supports the few cryptocurrencies

Coinbase is US based San-Francisco headquartered, regulated popular cryptocurrency broker, and exchange that supports fiat payment methods such as credit/debit card, bank account, wire transfer(ACH), SEPA transfer.

Coinbase does not operate worldwide only serves in a few countries such as the USA, EU countries, Australia, Singapore, Canada.

Best Coinbase alternatives

Coinbase pros

  • Regulated Cryptocurrency exchange
  • Transparent fee structure
  • Enhanced security with 2FA
  • Beginner friendly and amazing user interface

Coinbase cons

  • Few countries support
  • Sometimes funds can be delayed of deposit and withdrawals
  • Buying limits and may track your buying activity
  • Poor customer support

Best Coinbase alternatives

Here is the summary of best Coinbase alternatives to try in 2020.

  1. Cex.io
  2. Coinmama
  3. Bitpanda
  4. Kraken
  5. Binance.US
  6. Bitit
  7. LocalBitcoins

Lets discuss, each of the exchanges in detail

1. Cex.io

Cex.io UK registered, legally compliance Ethereum broker and exchange which supports fiat payments through credit cards, swift transfer, ACH transfer.

Cex.io supports so many countries for Buy/Sell Ethereum and few other cryptocurrencies where you can deposit and withdraw fiat currencies like EUR, GBP, USD, and RUB through credit/debit card and wire transfer.

Cex.io pros

  • Great security with 2FA
  • Worldwide support for buying, selling and withdrawing fiat currency
  • Transparent fee structure
  • Good customer support

Cex.io cons

  • Buying/selling and fiat withdrawal limits
  • Headache verification process
  • Direct Ethereum buy/sell rate is a little higher than the actual market price

2. Coinmama

Coimama is one of the oldest Ethereum brokers operating worldwide including 193 countries since 2013. 

Coinmama provides fast, easy Ethereum and cryptocurrency buying service with few payment methods such as credit card, bank transfers such as SWIFT and SEPA and faster bank payment service only works for the UK.

Coinmama pros

  • Fast customer support
  • Worldwide supports including 193 countries
  • High spending limits on buying Ethereum and other cryptos
  • Fast verification process

Coinmama cons

  • Sell service available only the European countries
  • Relatively high fees

3. Bitpanda

Bitpanda is Austria based cryptocurrency exchange and Bitcoin broker operation since 2014 and buying cryptocurrency only supports the European region.

Bitpanda offers a wide range of payment methods such as credit/debit card, bank transfer, Skrill, Neteller, etc.

Bitpanda pros

  • Beginner-friendly user interface
  • Wide range of payment methods
  • Great security with 2FA
  • Mobile app for Android

Bitpanda cons

  • No mobile app for iOS
  • Few countries support
  • Fees are not clearly indicating

4. Kraken

Kraken is one of the oldest cryptocurrency exchanges operated since 2011, based in California, United States. Kraken allows its users to trade cryptocurrency with fiat currency such as USD, EUR, CAD, JPR, etc other than crypto to crypto trading.

Also, you can fund the account with wire transfer and SEPA transfer.

Kraken pros

  • Relatively low fees
  • Opportunity trade with real fiat pairs
  • Margin and futures for advanced traders

Kraken cons

  • Only one fiat payment method
  • Poor customer support

5. Binance.US

Binance.us is a cryptocurrency exchange introduced for the US people since September 2019. Binance.com exchange has stopped the service in the US because of cryptocurrency regulatory issues.

Currently, they accept the fiat deposit and withdrawal via the wire, and ACH transfers.

Binance.US pros

  • Beginner-friendly user interface
  • No fiat deposit fees
  • Binance.com grade security

Binance.US cons

  • No mobile apps
  • Only supports the US

6. Bitit

Bitit is a cryptocurrency broker and exchange which provides instant, easy and secure cryptocurrency buy/sell with major payment methods such as credit/debit card, SEPA transfer, and cash vouchers.

That supports 50+ countries including the US, UK, Canada, Australia, etc.

Bitit pros

  • The convenient, transparent fee structure
  • Major crypto buying with credit/debit card
  • The spending limit can be increased with the ID verification

Bitit cons

  • Supports the few countries
  • Poor customer service

7. LocalBitcoin

LocalBitcoin is a peer to peer bitcoin exchange where People can buy and sell bitcoin for Paypal and various alternative methods such as Skrill, Payza, Wire transfers, Using Cash, etc. LocalBitcoin based on Findland and founded in 2012 which has a reputable history and trustworthiness among the cryptocurrency community.

LocalBitcoin supports a lot of countries and anyone can become the Bitocin buyer or Bitcoin seller through this platform where the Bitcoin exchange rate decides the buyer or seller.

LocalBitcoins pros

  • Low fees
  • The website provides high security with 2FA authentication
  • Bunch of deposit and withdrawal methods
  • Escrow service for community protection

LocalBitcoins cons

  • Low customer support
  • Few countries are not supported

Conclusion – best Coinbase alternatives

In this article, mainly consist of the best Coinbase alternatives that you can use now to buy, trade Bitcoin, and other various cryptocurrencies. I think Cex.io is the best Coinbase alternative because it has numerous similar services to the Coinbase exchange.

If you want to buy the Bitcoin or any other altcoin with fiat you can use Coinmama, Cex, Bitpanda, LocalBitcoin other than the Coinbase exchange.

If you want to trade the popular cryptocurrency, you can use the Cex.io, Bitpanda, Binance.US, Kraken, etc.

Other helpful readings,

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