Coinbase is the most popular cryptocurrency exchange in the United States, but it’s not always the best option. Here are some of our favorite alternatives for buying and selling cryptocurrencies in the US.
The best alternative to coinbase reddit is a website that offers cryptocurrency buyers and sellers a place to discuss the best Coinbase alternatives.
Coinbase has been at the epicenter of the bitcoin craze for years. This cryptocurrency exchange located in the United States is one of the most popular for buying and selling Bitcoin, Ethereum, and Litecoin. There are a lot of Coinbase rivals out there, but Coinbase is the most popular cryptocurrency exchange. This trading platform was one of the first of its kind, which explains its huge user base (over a million plus users and thousands of merchants).
They’ve altered the game by making it easier to purchase and trade cryptocurrencies. It’s now as simple as joining up, connecting a bank account or debit card, and purchasing the cryptocurrency of your choosing. Getting into the crypto-world has never been simpler thanks to Coinbase’s ability to purchase bitcoin using fiat money through credit card, debit card, wire transfer, and SEPA. There are, however, numerous Coinbase options that you may not be aware of!
Coinbase offers a lot of benefits and a few drawbacks. Coinbase is dependable, secure, and easy to use, but it has higher costs. Furthermore, Coinbase only supports 32 countries. It may seem to be a lot, but many people all around the globe are still without access!
Despite these drawbacks, Coinbase remains the finest platform for a cryptocurrency novice: it’s the ideal method to get your feet wet while enjoying a user-friendly design and a straightforward trading platform.
As your requirements change, you may want to consider various Coinbase alternatives to assist you avoid the hassles of purchasing Bitcoin from anywhere on the planet.
Alternatives to Coinbase
Coinbase vs. GDAX
See our post on GDAX vs. Coinbase Pro rebranding.
Global Digital Asset Exchange (GDAX) is what I believe to be the finest cryptocurrency exchange option to Coinbase. Here’s how it compares to Coinbase:
- Lower Transaction Costs: Losing a significant part of your profits due to transaction fees is just not an option for the regular trader. GDAX addresses this problem by lowering transaction costs, which is critical for sophisticated users who may be trading significant amounts of money on a regular basis. As a manufacturer on the GDAX network, there are no costs for purchasing, selling, or transferring. There is a 0.25 percent transaction charge for those who purchase and sell on the market. When compared to Coinbase, which charges approximately 1.49 percent for trades and transfers done straight from a bank AND a 3.99 percent cost for any transactions conducted with credit/debit cards, the price is negligible.
- GDAX has a more complex platform aimed towards the more advanced user. Though there is a learning curve to using their method, their charts are more insightful and provide more clarity when doing bitcoin research. GDAX has more sophisticated capabilities that are more comprehensive to meet the requirements of a more demanding and advanced client base. You’ll be acquainted with the platform and an expert in no time if you take the time to learn how to use it (I suggest spending 30 minutes watching one of the numerous Youtube videos… thanks, technology!).
- GDAX, a Coinbase rival, places a premium on security. You will notice the increased security as soon as you begin the registration procedure for its platform. Its authentication procedures are much more stringent than Coinbase’s, but greater security is never a bad thing.
- No Trading Limit: Another advantage of GDAX is that it does not have a trading limit, allowing you to buy and sell as much as you like.
Coinbase is the way to go if you want to get your feet wet and exchange a little amount of money (about $50). It will be user-friendly and will assist you in learning about the bitcoin industry. If you want to trade more than $1,000, I recommend taking a few minutes to learn how to use GDAX and using it as your primary trading platform.
Want to avoid Coinbase fees? More information may be found here: Fees on Coinbase: A Comprehensive Guide (and How to Avoid Them)
Coinbase vs. Cex.io
CEX.IO is a defunct Bitcoin cloud-covering provider. The CEX.IO platform allows users to trade cryptocurrencies for fiat currencies including USD, EUR, GBP, and RUB. According to Maker-schedule, Taker’s the site charges a fee of 0% to 0.25 percent on commercial transactions. Bitcoin, Ether, Ripple, XLM, Bitcoin Cash, Dash, Zcash, and Bitcoin Gold are among the cryptographic options available on the site.
The restricted reach and availability of Coinbase is one of its drawbacks. With the exception of a few nations in Asia and Africa, CEX.IO solves this by offering services to a significant majority of the world’s countries. This exchange platform is user-friendly and does not need advanced trading abilities; all you have to do is fund your account, pick the amount of coins you want to trade, and then choose a bundle or client account. In comparison to other exchanges, however, this one offers large initial purchase limitations.
Coinbase vs. Poloniex
Poloniex is a cryptocurrency exchange market platform headquartered in the United States. Tristan D’Agost established the business in January 2014, and it is based in Wilmington, Delaware. According to Goldman Sachs Group, Inc., Poloniex had a daily trading volume of more than 150 million USD by February 2018. This is one to keep an eye on.
Coinbase vs. Bitcoins in your area
Local Bitcoins is the world’s biggest peer-to-peer bitcoin marketplace, allowing users to purchase and trade bitcoin. Local Bitcoin, founded in 2012 and based in Helsinki, Finland, serves as a marketplace for buyers and sellers to complete transactions. Trades may be conducted both online and offline in almost every nation and over 15,000 major cities across the globe.
The fast transaction time is a major benefit of this trading platform. They also have a global reach of over 200 nations. In contrast to Coinbase, where transactions are centralized, LocalBitcoins offers a decentralized exchange alternative where you must deal directly with other users. You may meet other merchants, complete deals offline, and even negotiate trade conditions while you’re here. On the other side, this may cause delays in purchasing and bring a number of unknowns into the process. To utilize the LocalBitcoins exchange, you don’t need to provide any identification or have a bank account.
Coinbase vs. Gemini
Tyler and Cameron Winklevoss established Gemini, one of the world’s biggest Bitcoin exchanges, in 2014. (Co-Creators of Facebook). You may purchase Bitcoin and Ethereum using a bank transfer on this site. Gemini is a simple site to use for novices who want to purchase BTC / ETH, which is one of the reasons it’s so popular in the United States and other nations.
Gemini is an online trading platform that will appeal to users who have used Coinbase and are looking for a more sophisticated interface. It will work well for first-time users and those who are new to bitcoin trading. It offers cutting-edge trading at a cheaper cost (than Coinbase), as well as superior security, community trust, and customer service. Both existing and new exchange customers will benefit from the ability to detect trends in the order book chart as you place an order on the Gemini exchange platform. However, this platform is only capable of exchanging Bitcoin and Ethereum.
Coinbase vs. Coinmama
Coinmama, which was established in 2013, is a prominent cryptocurrency exchange in the Slovak Republic. Coinmama is a great alternative to Coinbase since it lets you purchase Bitcoin and Ethereum using a credit card, which is something that many other platforms don’t. To get a validated card, all you have to do is establish an account and sign up. You may start purchasing bitcoin once your card has been validated.
Coinbase vs. Bitstamp
BitStamp is another cryptocurrency exchange for those who wish to trade their money without the need of a third party. BitStamp has low transfer costs, quick and helpful customer service, and a secure and user-friendly interface with sophisticated functionality. Limit orders may also be entered, which will remain open until canceled or executed on the BitStamp exchange. Unfortunately, novices who are inexperienced with cryptocurrency will find this exchange to be unfriendly. Furthermore, transactions made with debit/credit cards are subject to hefty costs (5 percent flat fee) regardless of the amount bought.
Coinbase vs. Kraken
Kraken is a fantastic alternative to Coinbase if you want to trade various currencies. Kraken stands out among Coinbase alternatives because it buys and sells more than 15 currencies via a variety of pairings. The exchange interface includes a lot of tabs with transaction, account, and market information, and it’s frequently seen to be overly complex for newcomers. Dash, Monero, Ripple, Stellar/Lumens, Ethereum Classic, ICONOMI, Melon, and other cryptocurrencies are accessible for trading, and these currencies may be purchased using fiat currencies (GBP, EUR, USD, JPY, and CAD), SEPA, or wire transfer. The disadvantages of trading on the Kraken exchange include a lengthy account verification process and restricted bitcoin purchasing options (no credit/debit cards).
Coinbase vs. Bitcoin ATM
These are also decentralized Bitcoin exchanges, which are quickly becoming one of the most convenient methods to trade Bitcoins. BTC ATMs work similarly to normal ATMs, except that they take fiat money in exchange for Bitcoin and are one of the few ways to buy cryptocurrency without using a credit or debit card. The requirement for picture identification at most ATMs, as well as very high transaction fees and rates, are the disadvantages of utilizing Bitcoin ATMs.
Coinbase vs. Abra
Visit cryptoryancy.com/abra-best-coinbase-alternative for the whole article.
Other Coinbase options (which we’ll discuss in the future):
Local Trader of Mycelium
The best crypto exchange reddit is a subreddit that has been created for people who are looking to trade cryptocurrencies. In the subreddit, users can share their experiences with different exchanges and discuss which one they feel would be best for them.
Frequently Asked Questions
What should I use instead of Coinbase?
If you are looking for a cryptocurrency exchange, then Poloniex is the best option.
How can I buy crypto without Coinbase?
Currently, there is no way to buy crypto without using a centralized exchange like Coinbase.
What is the best exchange to buy cryptocurrency?
The best exchange for buying cryptocurrency is Coinbase.
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