8 Best Coinbase Alternatives in 2024

Coinbase is one of the most used centralized exchanges (CEXs) for digital assets, and it was also one of the first exchanges to ever grace the crypto markets after launching in May 2012. Since then, Coinbase has become a trusted platform for traders and investors alike and offers a wealth of features that can serve the needs of any crypto enjoyer.

While it’s always a solid pick, there are plenty of other options available for anyone seeking Coinbase alternatives. This list puts together the 8 best Coinbase alternatives around, taking a variety of factors into consideration, including security, liquidity, and the user experience for trading.

The 8 best Coinbase alternatives for crypto trading and investing

Here, we’ll dive into the best alternatives to Coinbase for people seeking a trusted crypto exchange. While these exchanges have been selected because they share similar characteristics to Coinbase, every pick on this list has been chosen based on our own criteria. With that in mind, you may want to check out our list of crypto exchanges if you’re looking for extra options. 

1. Kraken — The best alternative to Coinbase

Founded in 2011, Kraken was one of the earliest crypto exchanges and it has been a secure place to store and send cryptocurrency for the past 12 years. Kraken was the first crypto exchange to offer spot markets with with margin capabilities, in addition to regulated derivatives markets such as leveraged futures.

Kraken now has over 9 million users around the world and boasts 1.3 million web visits on a weekly basis. The exchange has deep liquidity pools in its spot market and offers a detailed Proof of Reserves report that provides full transparency to users about its backend systems.

Ultimately, Kraken is a CEX that has advanced trading capabilities and it has proven itself to be a trusted solution for buying and selling cryptocurrency throughout multiple crypto market cycles.

2. Binance — The most used CEX in the world

Binance has rapidly become the most used CEX in the world after it initially launched in 2017. The exchange handles more trading volume than any alternative, regularly averaging over $10 billion worth of volume in a given 24-hour period.

In addition to Binance processing more crypto transactions than Coinbase and any of its alternatives, the exchange also has a higher number of users than any other exchange with estimates placing it at 28.6 million users in 2021.

Not only does Binance offer the most-used crypto exchange, but the ecosystem has been expanding in recent years. It now includes an EVM blockchain called Binance Smart Chain where the brand’s own cryptocurrency, Binance Coin (BNB), is the native asset.

Binance CEX offers advanced trading tools, deep liquidity pools, and derivatives such as perpetual futures and options markets. However, there are some regions around the world where Binance use is restricted, including the US, Canada, UK, and Singapore.

3. Kucoin — The best exchange for up-and-coming altcoins

After 7 co-founders originally conceived the idea for Kucoin in 2014, the CEX launched in 2017. The exchange markets itself as “the people’s exchange” and offers 822 total cryptocurrencies that can be bought, sold, stored, and sent to blockchain networks.

The range of altcoins offered by Kucoin is coupled with deep liquidity pools in the spot market which helps to ensure low spread trading and no slippage at all. The exchange gets more than 2.2 million visits on a weekly basis and is a leading exchange in terms of total users.

With full Proof of Reserves audits processed by a third party provider, Kucoin provides a trusted and secure CEX that is a great Coinbase alternative for investors seeking the next up-and-coming altcoins. Unfortunately, access to Kucoin is restricted in certain locations around the world including Canada, Singapore, US, China, and Hong Kong.

4. Crypto.com — A great alternative to Coinbase for users in the US

Crypto.com launched in 2016 and has quickly become one of the most popular exchanges in the world. The exchange was regularly processing over $2 billion worth of trading volume on a daily basis during the 2021 bull market, and it currently attracts more than 3.5 million monthly active users.

In addition to offering a full suite of trading services including spot markets and regulated derivatives, Crypto.com offers a popular crypto debit card that is available in selected regions around the world including the US, Canada, Singapore, and certain countries in the European Union.

On balance, Crypto.com offers a secure Coinbase alternative that provides advanced CEX trading capabilities. The platform is also closely tied to Cronos, an EVM-compatible blockchain that provides Crypto.com users with easy access to an ecosystem of dApps.

5. Bybit — The best exchange for crypto derivatives

Bybit was founded in 2018 and is widely considered to have one of the best user experiences for trading out of all crypto exchanges. The Bybit trading terminal is responsive and adaptive, and it also contains useful features such as seamlessly modifiable leverage for perpetual futures contracts.

The exchange regularly processes over $2 billion worth of daily trading volume at the time of writing and has been growing at a rapid pace in recent times. The exchange gets over 20 million visits on a monthly basis and has been given a full external audit as part of its Proof of Reserves report. On balance, Bybit is a reliable and trustworthy CEX and is another great Coinbase alternative.

6. Bitget — A fast-growing CEX

Bitget offers a breadth of options for spot trading with margin in addition to derivatives contracts and other advanced trading markets. The exchange has over 600 separate cryptocurrencies available for trading and has a good average liquidity score of 560.

Alongside useful trading tools and low trading fees, Bitget offers support for 15 fiat currencies including USD, GBP, and EUR. The exchange has also partnered with soccer superstar Lionel Messi and looks set to grow its presence in the crypto sphere over the coming years.

Unfortunately, users in the US, Singapore, and Hong Kong are not able to use Bitget at this moment in time.

7. OKX — A highly-rated exchange with deep liquidity pools

OKX supports almost 6.5 million user visits on a weekly basis and continues to expand its Web3 offering with a variety of features that can bridge the gap between centralized and decentralized trading. The exchange recently unveiled a state-of-the-art account abstraction solution that can provide its users with Web3 wallets that have a Web2 user experience.

Advanced trading tools and low platform fees are combined with an array of spot markets for OKX users to choose from. Investors can access 319 separate cryptocurrencies on the platform, and notably, OKX offers support for 46 different fiat currencies as well — the second-most out of any CEX and considerably more than the 3 fiat currencies offered by Coinbase.

On balance, OKX is a viable Coinbase alternative and the platform looks set to grow following the recent launch of its EVM compatible L2 blockchain, X1.

8. Bitfinex — One of the original crypto exchanges

Bitfinex was founded in 2012, making it one of the earliest CEXs in the crypto sphere. The platform gained notoriety in 2016 following a hack that led to a significant loss of funds, however, the platform has since upgraded its security protocols and is now getting back to its former glory at the top of the crypto exchange rankings.

A Proof of Reserves audit has been completed to ensure full transparency into the backend processes at Bitfinex, and the exchange supports almost 1 million visits on a monthly basis. It offers a full suite of trading tools across both spot and derivatives markets and regularly processes over $100 million in daily trading volume.

While it is available to most people around the world, Bitfinex is off-limits to users in the US.

The bottom line

There are some great Coinbase alternatives for anyone seeking a smooth trading experience and deep liquidity pools. To recap the total list, the top 3 Coinbase alternatives are as follows:

1. Kraken
2. Binance
3. Kucoin

Every CEX in the top three has full Proof of Reserves available and has proven itself to be robust through multiple market cycles. Hopefully, this list has provided more insight into the key considerations you should make when choosing a trusted CEX.

To learn more about centralized exchanges in the crypto sphere, make sure to check our article, CEX vs DEX: What’s the Difference?