Best Binance Alternatives – Top 7 Alternative of Binance

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    Best Binance Alternatives

    If you search the internet, you are going to find out that Binance is the best of the best. Also, it’s a bit difficult to find some other cryptocurrency exchange that can top Binance’s functionality and user experience. However, if you are looking for Binance alternatives that are worth your attention, you need not worry, as we will share some of them with you through this article. Also, the Binance alternatives picked by us promise a great crypto trading experience. So, let’s move further and check out each of them one by one.

    Binance is one of the leading online cryptocurrency exchange platforms, which was founded in the year 2017. Its main focus is to facilitate altcoin trading. It allows users to trade more than 500 cryptocurrencies.

    Top 7 Best Binance Alternatives

    Following is the list of top 7 alternatives of Binance that you can consider for trading and storing various cryptocurrencies in a secure and convenient way.

    1. UpHold

    Starting off the list with Uphold, which is a popular crypto exchange that has been in the market since 2014. The company is the pioneer in trading both digital and physical assets. Uphold is said to be one of the very few crypto exchanges which actually deal in commodity trading. In the world of cryptocurrency, it was the first company that came forward and shared its reserve holdings with the public in real-time.

    Features

    • It allows users to access seven different types of blockchain networks.
    • It deals with four tradable commodities.
    • Uphold offers an interest of 3 – 10% on users’ digital currency holdings.
    • You can open and hold the funds in an Uphold wallet completely free of cost.
    • The exchange supports a total of 23 fiat currencies.
    • Users can trade precious metals such as Gold, Platinum, Palladium, and Silver.

    UpHold is available in almost every nation in the world, but there are some countries such as African Republic, Cuba, Iran, Libya, North Korea, Somalia, Sudan, and Syria that don’t allow crypto transactions and trading via Uphold. During your first-time registration, Uphold collects your personal data that including your date of birth and phone number.

    2. Coinbase

    Coinbase is the leading mainstream cryptocurrency platform in the United States. It has become a preferred crypto exchange among newcomers, and it is also used widely by seasoned crypto investors. The wide range of services offered by Coinbase includes cryptocurrency investing, trading, custodial accounts for institutions, and crypto-wallets for retail investors. Along with that, it does allow users to exchange crypto with U.S. dollar-based stable-coin. Coinbase was founded in 2012, and since the very start, it has been a fully licensed cryptocurrency exchange that is legit in all the U.S. states, with the exception of Hawaii. here are the best Coinbase alternatives.

    Features

    • The company provides 25 different cryptocurrencies in which a user can invest, trade, and stake.
    • The user interface of Coinbase is sophisticated, and it is perhaps the easiest crypto exchange to use for crypto trading.
    • The cryptocurrency market is too volatile, and Coinbase works hard to keep the investors protected from serious price slippage with the help of highly liquid exchanges.

    Trading, staking, and selling are pretty easy in Coinbase, and it does have an iOS as well as an Android application. So, users can trade cryptocurrencies on the go. If you are not using Coinbase Pro, which comes with a monthly fee, then you might find yourself lost in the convoluted fee system. There’s no denying the fact that Coinbase’s standard trading fee is higher than most of the crypto exchanges on this list.

    3. Bisq

    Bisq, which used to be known as Bitsquare, is one of the few cryptocurrency exchanges which offer users a completely decentralized exchange. This means the servers of the Bisq are scattered all over the globe rather than being monitored in one physical location. As a result, Bisq is not confined to one specific country. Moreover, this leaves Bisq a great advantage, as it won’t need any third-party application to conduct users’ cryptocurrency transactions. In addition to this, it gives users the freedom to trade peer-to-peer.

    Features

    • Bisq doesn’t ask users to submit their personal information to start the trade, and this is because the decentralized way of making the trade doesn’t require the user to verify their identity.
    • Bisq keeps a close watch on the network to make sure that no fraudulent activity is taking place.
    • As users don’t need to provide personal information, hackers won’t be able to get sensitive information. Also, it’s hard for a hacker to get into the system as he first needs to hack all the systems which are working as the node of the network.
    • Bisq also charges differently to both makers and takers. The fees are calculated in a complex way, and you can learn about its breakdown on their official website.

    Also, if you look at all these above-written features, you can clearly make out that Bisq doesn’t run the whole show on its own. That power is in the hands of the users, and they can manage how and with whom they want to trade, which makes Bisq one of the most secure platforms for trading cryptos.

    4. LocalBitcoins

    LocalBitcoins is another well-known Binance alternative where one can directly get in touch with the buyers and sellers for the trade of cryptocurrency. Unlike many cryptocurrency exchange websites that aim to connect the buyer and the seller manually, LocalBitcoins is more like Craigslist or Olx for buying digital currency. With this exchange, users get lots of payment options. Along with this, the website comes with built-in escrow, which allows greater buyer security.

    Features

    • Each trader who is listed in the LocalBitcoins has a reputation rank and comes with a public history, which shows their past activities. As a result, one can find out from the reviews if the individual is a scammer or not.
    • When a user is requesting for a trade to happen between the two parties, the traded cryptocurrency is being held by LocalBitcoins using an escrow service. The cryptocurrencies are only released when the seller makes the confirmation that the trade has been successful.
    • The user login ID comes with two-step authentication. As a result, you will get an OTP on your mobile phone to access your account. But one thing to keep in mind is that the authentication process is disabled by default.
    • In case you are logging in from a different browser, an email is sent to your registered email ID to verify if the person logging in is really you or not.
    • The support staff is always there to help you when you need them. You can connect via live chat, email, or phone call.

    One thing which makes it different from other crypto exchanges is that you can find various methods for both making and receiving payments.

    5. Huobi Global

    Huobi global is considered to be the underdog champ of crypto exchanges. It was released in 2013 when the crypto market was too fragile, and everyone was taking their money out from the crypto market. One of the main reasons for its success is its trading engine, which is extremely fast and responsive. On the other hand, if we talk about the user experience, even a beginner can easily understand what is happening in the crypto market by looking at the live price charts. The introduction of Huobi Token and Huobi’s IEO platform helped the website to come into the spotlight.

    Features

    • For newcomers, opening an account is a piece of cake. You only need to think about which version of Huobi you need, and it depends on the country in which you are using it.
    • There are many digital assets present on the website that you can trade.
    • If there’s a problem you can send the information to the customer care and within a few minutes someone from the staff will get in touch with you. It’s crazy how fast the customer service is in comparison to other exchange service providers.
    • If something goes wrong, Huobi will restore you to the rights, and it takes the help of User Protection Funds as an insurance policy against hacks, thefts, and other actions that could affect your digital wallet.
    • It supports derivative trading, margin trading, and C2C trading.

    There’s no denying the fact that Huobi offers a great trading experience that actually lives up to its high-flying reputation.

    6. Kraken

    Kraken is a fully functional crypto exchange service provider that comes with low fees and a great number of digital currencies. It is one of the only exchange tools in the U.S., which comes with the added complex functionality of Margin. The main motto of the company is to be the best and most secure crypto exchange in the world. Kraken was founded in 2011, but it officially launched in 2013. It is said to be one of the oldest and the largest crypto exchange companies in the world, which also makes a great alternative to Binance.

    Features

    • Kraken allows users to trade more than 60 different cryptocurrencies, and it also deals with 7 fiat currencies.
    • Kraken always wants to keep its users in power with their money. Thus, it gives high liquidity options to its users, allowing them to buy and sell a cryptocurrency at a fair price easily.
    • There are a number of tools that are present to make trading easier. and one can calculate the profit of their trade using Margin, Stop orders, and crypto short sales.
    • Users also get the dark pool, which is a secure platform for high-volume investors to trade anonymously.
    • Its coin base trading differs from exchange to exchange and depends on how much trade a user has made in a month.

    The company is proud of being one of the securest crypto exchanges for the past eight years. It is the leading exchange platform in the U.S. and offers the best security features. Kraken is a centralized exchange that one can access online. If you are qualified to use all the different tools available on the Kraken, then it surely is a deal-breaker and becomes the best Binance alternative. If you are not investing your digital currency in anything, you will be getting some interest on it by just keeping it in your account.

    7. OKEx

    On number 7, we have a crypto exchange whose headquarter is situated in Hong Kong. OKEx as a company is targeting more and more advanced cryptocurrency traders. The company has its own OKCoins, which makes the exchange more simple to use and gives special attention to buying and selling of cryptocurrencies. If you look at CoinMarketCap.com, you will find out that OKEx is marked as one of the largest international cryptocurrency exchange service providers. Its daily turnover is $1.5 billion only from future trading, which uses Bitcoin as an exchange currency.

    Features

    • It has a website and desktop-based software, which can be downloaded on the system.
    • A user can perform standard crypto-to-crypto trading using the most common cryptocurrencies.
    • Margin trading with the leverage of 20:1 is also available, and this leverage is the highest among other cryptocurrency exchanges.
    • Future trading is also available for Ethereum and EOS. Users can go with weekly, bi-weekly, and monthly contracts based on their needs.
    • Algorithmic trading tools have also been added to the platform to make the trading more understandable to new users.
    • Trading fees are where OKEx beats all the competitors out of the water. Prices are tiered based on an average of 30-day trading volumes. But even if you are a heavy user, the upper end of the spectrum also has the lowest fees in the whole trading market.
    • Lastly, the security features include GSLB, which is a cluster of distributed servers, and cold storage multi-signature wallets that are used to keep the digital currency safe from attackers.

    OKEx is a technologically advanced exchange service. Yet, its ambition of taking over the world of cryptocurrency hasn’t been fulfilled. As a result, the company is trying its best to find out new ways to attract new crypto traders.

    Conclusion

    So, the above-mentioned are some of the best Binance alternatives that you can try. Binance is a great crypto exchange, but if you are looking for some other exchange that offers an exceptional trading experience, you can pick one from our list.

    If we have to choose one of the Binance alternatives, then we would go with Kraken as it functions globally and can provide both crypto-to-crypto exchange and fiat currency to crypto exchange. However, you can try all of them to see which one suits your requirement the best.