Coinbase offers buying, storage, and selling of cryptocurrencies in the simplest manner possible. It has partnered up with Overstock and Dell having its headquarters in San Francisco.
You might be looking for Coinbase alternatives as per the reason for the high exchange fee that it has to offer. When you buy and sell cryptocurrency via Coinbase, it charges a spread of almost 0.05% in addition to the fee that has a cap of almost 4%.
If you are an investor in cryptocurrency then you must know that exchange fees play a vital role in the development of a victorious strategy for trade.
Why look for Coinbase Alternatives?
As you might remember (if not, then here it is), back in 2019, a huge number of users of Coinbase started a Twitter trend mentioning #deleteCoinbase. This happened right after Coinbase announced its acquisition of Neutrino. Neutrino as many of you know is an organization with a software base and was founded by IT professionals having specialties in hacking and spyware development.
That particular step taken by Coinbase gave rise to a spar between its users and the company itself.
Furthermore, another motive for looking into Coinbase Alternatives is the negligence suit that Coinbase is facing for its Bitcoin Cash’s launch in 2017. The acquisition stood on the grounds of manipulation of cryptocurrency and inside trading.
Carrying on with the criticism banter against the exchange giant, it was reported back in 2018 that the number of customer complaints got doubled regarding the fact how Coinbase was treating its users. Following that particular drama in the digital currency world, in 2019 the Coinbase ’s exchange servers crashed causing the Bitcoin price to rise to a soaring $1,450 in a few given minutes.
Also, the IRS (Internal Revenue Service) sent letters to almost 11,000 Coinbase users to warn them concerning the Federal Tax Law misdemeanor.
Besides, when you are using Coinbase you would have to wait for almost 3 complete business days if you have placed the request of moving your currency to some exterior cryptocurrency wallet. The same feature of several days procedure is applied when you sell or transfer money into your personal bank account. All of this creates frustration in the user especially for people who are day traders.
When all of that took place, a lot of Coinbase users started to look for alternatives as it’s no child’s play when you have your real-world finances, and time invested in something of that sort.
List of the Best Coinbase Alternatives
A lot of you got started with Coinbase as a standard crypto exchange trader for cryptocurrencies like Bitcoin and others.
The concept of crypto exchange is like a business marketplace where you can go to sell and buy digital currencies.
Nowadays, with 250+ various cryptocurrency exchange traders out there with a capital of almost $300 Billion invested in them, you no longer need to be stuck with crypto exchanges like Coinbase. Move on and take a look at one of the best Coinbase alternatives that 2021 has to offer.
Voyager is one of the few applications out there that allows you to trade cryptocurrencies while you are commuting, traveling, or simply on the go.
It has built-in state-of-the-art solutions for its users i.e. the cryptocurrency users and traders who have a palate for app-based commission-free trade strategies and trading.
Voyager has been declared as one of the most powerful apps for crypto trading as per its secure infrastructure and can be regarded as one of the best Coinbase alternatives. It will help you deal directly with the cryptocurrency market from anywhere you like and help you develop proper crypto strategies.
This application under discussion works as a great alternative to Coinbase. Why do you ask? Well, Coinbase offers only a limited number of cryptocurrencies to work with, however, Voyager has features for all the major players in the crypto world. They have an inventory of almost 52+ digital assets, thus a much wider choice pool than Coinbase.
The availability of the Voyager application is currently open for USA residents only. Future prospects of Voyager are going to be launched in Canada and Europe.
Liquid, as many of you might be familiar with it, is a Japanese-based crypto exchange company. Following the competency and efficiency of Japanese people in all walks of life, their cryptocurrency exchanger (Liquid) has a stainless record so far.
Back in 2014, Japan launched Liquid, and just over the period of only two years, it got almost $250 million roaming in its daily trading volume. The most mesmerizing thing about Liquid is that it became the best before it broke into the US market and still it had a very inspiring track record.
As it was promised earlier by the founders of Liquid that they will start operating in the US market in 2020, they came through with that claim and thus launched their services in the USA.
You might remember the Winklevoss twins who had their fair share of a tussle with Facebook’s Mark Zuckerberg. They had launched a US-based crypto exchange called Gemini. It was one of the first fully functional (on a legal basis) crypto exchanges that transformed into a proper working crypto trading platform.
The cryptos in which this exchange trades in is:
- Bitcoin Cash
Although Gemini is not as good of an alternative to Coinbase when it comes to its fee structure, nevertheless it is a great Coinbase alternative regarding its deposits and withdrawals structure.
Gemini has set up its infrastructures in such a manner that it can be a great asset for the larger institutions, whales, and sharks of the crypto world.
Furthermore, it starts to decrease the trading fee if you trade more for a period of the first 30 days continuously. It has its headquarters in the United States and is one of the safest and most secure crypto exchanging platforms available to this date. The reason being of offering the best regulatory compliance among its competitors.
The Gemini mobile application offers the following features:
- Available on Android and iOS
- Have the option to create various levels of accounts
- Access permission from API like:
Everyone who is attached to the cryptocurrency/digital currency attribute nowadays or has been involved with crypto exchange trading knows that Kraken has been around for ages. It was founded in 2011 and continued to climb up the ladder of success for a decade now.
It only trades in major digital currency and a few others that might interest the users of crypto exchange trade. Kraken can be of great interest to you if you check whether it collaborates with your demographic location and your requirements for the tool.
Binance is a very famous exchange platform for cryptocurrency and has been around since 2017. If you are a regular trader of cryptocurrency then you might know what Binance is. It is one of the most referred to Coinbase Alternatives by the crypto experts.
This platform offers almost 150+ cryptocurrencies along with almost 500 trading pairs. After doing a bit of research, we found out that Binance holds the position of the most massive collection and selection of cryptocurrencies presently in relation to its competitors.
The most amazing and interesting thing that came under our findings was this, Binance has its head office in Malta where it works in coherence with the Maltese Govt. Secondly, based on collaborating with the government, Binance also holds the title of the best security and safety among its fellow contenders.
2011 was the year when Bitstamp was born in Luxembourg and has been a very trustworthy exchange for a decade now.
Bitstamp is Europe’s oldest cryptocurrency exchange and lies in the top 4 exchanges out there.
Bitstamp deals in:
- Bitcoin Cash
Well, the revolution of digital currency has already taken the world by storm and almost everyone is getting interested to get a piece of the action. In this case, you obviously need a fully functional, stable, and secure platform to cater to the needs of your cryptocurrency exchange trade.
There is no doubt about this fact that Coinbase is one of the best starter exchange platforms available, however, it is not a long-term solution, so do your research properly and look for the best Coinbase Alternative to earn some digital cash.