In the cryptocurrency trading world, there are very few names as big as Binance, crypto exchange that boasts well over 8 million users, a one the world’s biggest trading volume, and a solid reputation to boot.
Binance is, therefore, a popular cryptocurrency exchange with deep liquidity across a wide range of crypto assets, feature-packed, but not so that it’s complicated to use, as well as with robust trading and charting tools.
Be that as it may, if you’re a serious trader, it’s definitely worth having a few exchanges that you can rely on in case Binance does not perfectly suit your current needs. In this guide, we will look at some of the best Binance alternatives and at what exactly makes them great and appropriate for you.
Binance Alternatives
Currently ranked 37th by adjusted trading volume, Coinbase Pro (formerly called GDAX) is a very good option if you’re looking for an exchange with similar features to Binance. It’s one of the most popular crypto exchanges out there, it has high liquidity, and it allows you to buy crypto directly with USD.
It’s a platform that allows you to see the order placed by others so you can buy and sell at the market price. The exchange is available in most countries around the globe (a full list can be found here). Currently, it’s most popular trading pairs are BTC/USD, ETH/USD, and LTC/USD.
Kucoin is a popular cryptocurrency exchange and a very good alternative to Binance, as it boasts an exceptionally wide range of cryptocurrencies plus a gratifying loyalty program based on its native token, KuCoin Shares (KCS). KCS holders are rewarded with 50% off the trading fees on Kucoin (which are not that high to begin with, 0,1% general trading fee).
Another big advantage of Kucoin is the fact that it does not require verification from its users. Kucoin is a crypto-to-crypto exchange which means that you’ll have to first get BTC or ETH in order to trade on Kucoin. Currently, Kucoin trades more than 380 cryptocurrency pairs and is ranked 77th on CoinMarketCap. Another good thing about Kucoin is the fact that it can be accessed via almost all daily devices as it has a web version and two official mobile apps for Android, and iOS.
Bittrex, the US-based cryptocurrency exchange, is one of the veterans of the industry, as it was first launched in 2013. The main advantage of this exchange is the fact that it is fully-regulated and compliant with all the current US rules.
The exchange provides users with three account options and, depending on the level of verification obtained, the more freedom they have of withdrawing cryptocurrency to their wallets. Bittrex also boasts one of the most interesting fee structure plans out there, with a 0,25% commission on all trades. The exchange also lists more than 280 cryptocurrency pairs against other currencies, including some with stablecoins.
Bitfinex is yet another very good Binance alternative. The crypto exchange boasts deep liquidity, a large number of trading pairs, and various customizable advanced trading tools such as margin and shorting trading.
Bitfinex is a platform mostly aimed at professional or seasoned crypto traders, and it can be a bit slow and a lot more expensive than other options on our list. Besides its plethora of advanced trading tools, the exchange allows for both fiat and crypto pairs, and has two official mobile apps, one for Android, and one for iOS.
The exchange is available in almost all the countries of the world except the United States, Bosnia, North Korea, Ethiopia, Iran, Iraq, Syria, Uganda, Vanuatu, and Yemen.
Gate.io is a digital currency exchange that offers crypto-to-crypto trading of a wide range of coins and tokens (over 200) including Bitcoin, Ethereum, Tether, Qtum, EOS, Zilliqa, Litecoin, Monero, DogeCoin, NEO, etc. Some of the main highlights of the exchange are the 0,2% trading fee and the relatively high transfer limits.
Besides the extensive range of digital currencies, the exchange also features cold wallet storage, two-factor authentication, a very functional user interface. Unfortunately, the exchange doesn’t support fiat deposits, and it doesn’t have such a well-rounded reputation as most other crypto exchanges in our list.
The exchange is also very well suited for traders who take their work on the go thanks to a series of mobile apps for iOS and Android.
Bibox is another popular cryptocurrency exchange that you can use as an alternative to Binance. Bibox stands out from the crowd thanks to its high-tech business model. The exchange uses AI to enhance its services.
It offers competitive 0,1% trading fees as well as fee discounts for holders of its native token, the BIX. You can place trades through the exchange’s web-based interface or a desktop app, as well as through the exchange’s mobile apps for Android and iOS. You can buy and sell more than 60 coins and tokens, including the most popular cryptocurrencies to date.
You can also take advantage of some advanced trading features such as margin trading. The only real downside to Bibox, except maybe it’s not so great interface is that because it’s a Chinese exchange, it can be affected by various government regulatory changes.
Conclusion
Binance is without a doubt one of the best cryptocurrency exchange currently on the market. However, having a list with other options is something that all serious investors and traders should consider. We hope that this list of Binance alternatives helped you in your investing and trading endeavors.
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source: https://coindoo.com/best-binance-alternatives-guide/
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