But Binance is also known for its poor customer support, history of security compromises, and its laundry list of issues with financial authorities around the world. You wouldn’t be blamed if you wanted to look elsewhere for their crypto trading needs.
Thankfully, there are plenty of great Binance alternatives out there.
Let’s take a look at some of the most popular ones.
Alternatives to Binance
Coinbase: Best High-Liquidity Exchange
|Countries||100+ countries, including the UK and EU|
|Cryptocurrencies||BTC, ETH, SOL, AVAX, DOGE, + more|
|Trading Fees||0.60% maximum|
|Funding Options||UK bank transfer (via FPS), SEPA transfer, crypto deposit|
Launched in 2012, Coinbase is one of the world’s largest cryptocurrency platforms – with more than 68 million users across more than 100 countries. Its Advanced Trade interface (which replaces Coinbase Pro, which they’re phasing out in 2022) gives all Coinbase users access to an advanced trading terminal.
When compared to Binance, Coinbase’s Advanced Trade interface is a solid alternative for traders who want access to a high-liquidity exchange (even for GBP pairs). Although it doesn’t support as many cryptocurrencies as Binance, it provides UK users with more GBP-to-crypto trading pairs.
Additionally, even though Coinbase isn’t as widely available around the world, it does offer a relatively quick onboarding process and has a good security track record. Coinbase is also a publicly-traded company in the US, so it’s required to be transparent about its business dealings – something Binance has long struggled with.
That said, there are drawbacks to using Coinbase over Binance.
For starters, Coinbase’s Advance Trade fees are more expensive (maximum 0.60%), and the company doesn’t offer futures and OTC trading or crypto-backed loans. And while there are some extra products you can access via your Coinbase account, it’s nothing like what’s offered via Binance.
All things considered, Coinbase’s Advanced Trade is a solid alternative to Binance for anyone that’s willing to pay a bit more in trading fees in exchange for access to more GBP trading pairs and a reputable high-liquidity exchange.
- Well-established and regulated company.
- Popular, high-volume crypto exchange.
- Offers more than 30 GBP-crypto trading pairs.
- Access to all of Coinbase’s features.
- Higher fees than Binance (0.60% max).
- Doesn’t have futures or OTC trading.
- Supports a much smaller number of cryptocurrencies (50+).
CoinJar: Best for Low Trading Fees
|Countries||UK and Australia|
|Cryptocurrencies||BTC, ETH, XRP, LTC, YFI, + 45 more|
|Trading Fees||0.10% maximum for exchange trades, 1% for instant buys|
|Funding Options||UK bank transfer (via FPS), debit and credit card, crypto deposit|
Established in 2013, CoinJar is an Australian-based crypto trading company. However, it also has offices in the UK and is a fully registered cryptoasset firm with the Financial Conduct Authority (FCA).
CoinJar’s biggest advantage over Binance is that it offers the same low trading fees on its exchange (maximum 0.10%). With CoinJar, most new investors can register with the platform, deposit funds via UK bank transfer, and start placing their first trades within 10 to 15 minutes.
Investors on CoinJar have access to around 50 supported cryptocurrencies, which is only a fraction of what Binance offers. However, CoinJar has a larger number of GBP-to-crypto trading pairs and good liquidity on its exchange.
Although CoinJar doesn’t have many of the features that you get with Binance, like crypto staking, it does offer some cool features like a competitively priced Instant Buy tool (flat 1% fee). CoinJar also has a nifty function called CoinJar Bundles, which lets you invest in an assortment of different cryptocurrencies at once.
CoinJar’s other major limitation is that it’s only available in the UK and Australia. But if you’re a resident of one of these countries and you want a low-fee alternative to Binance, you’ll be hard-pressed to find a lower cost option than the CoinJar Exchange.
- Very low exchange trading fees (maximum 0.10%).
- Around 30 GBP-crypto trading pairs.
- Very quick onboarding process.
- Fully registered FCA cryptoasset firm.
- Limited number of supported cryptocurrencies (50+).
- Only available in the UK and Australia.
- Doesn’t offer crypto staking or many extra features in the UK.
Bitstamp: Best for Security-Focused Investors
|Countries||50+ countries, including the UK and EU|
|Cryptocurrencies||BTC, ETH, LINK, BCH, XRP, + 45 more|
|Trading Fees||0.50% maximum|
|Funding Options||UK bank transfer (via FPS), credit/debit card|
One of the longest-running crypto exchanges in the business, Bitstamp is a European-based company that was founded in 2011. The company primarily offers its services in Europe and the UK, and it currently has over 3 million users.
With Bitstamp, investors can buy and sell more than 40 cryptocurrencies (all with GBP pairs) using the firm’s exchange. Bitstamp’s fees are higher than Binance’s (0.50% maximum), but it has a sleek spot trading interface, a limited crypto staking feature, and access to its very own Lightning Network node.
While Bitstamp isn’t as well-known as Binance outside of Europe, it makes up for its lack of name brand recognition in security and convenience. In fact, Bitstamp’s mobile app is highly rated for both iOS and Android devices – so it’s easy to place trades or check in on your portfolio while you’re on the go.
Bitstamp is also a fully licensed payment processor in Luxemburg and it’s a UK Limited company with temporary FCA cryptoasset firm registration. It even has one of the highest security ratings on CryptoCompare (10.6 rating), and it fully revamped its security features after its infamous 2015 hack.
When compared to Binance, Bitstamp’s main drawback is its higher trading fees. However, if you’re okay with spending slightly more on fees in exchange for access to a slew of GBP-crypto trading pairs and a security-focused platform, Bitstamp is well worth considering.
- European and UK-registered company.
- Excellent security features.
- All supported cryptocurrencies offer GBP trading pairs.
- User-friendly web and mobile interface.
- Access to Lightning Network transactions for BTC.
- Higher trading fees than Binance.
- Offers few extra features beyond its exchange.
KuCoin: Best for Extra Features
|Countries||All countries, including the UK (KYC limits apply)|
|Cryptocurrencies||BTC, ETH, LUNA, MATIC, CRO, + 500 more|
|Trading Fees||0.10% for exchange trades, 2.5–8% for instant buys|
|Funding Options||Crypto deposits only (exchange), credit/debit card only (instant buys)|
The youngest crypto exchange on this list, KuCoin is a Singapore-based company that was founded in 2013. The firm didn’t formally begin operations until 2017, though it has since become one of the most popular exchanges in the world.
What sets KuCoin apart from the pack is its superb collection of extra features and its rapid onboarding process. Most people (including UK residents) can make a KuCoin account within minutes and access most of the firm’s features after completing some quick KYC checks.
Feature-wise, KuCoin gives Binance a run for its money. The company has a powerful exchange, an instant buy feature, margins trading, crypto-backed loans, a peer-to-peer (P2P) marketplace, crypto staking, and a dividend programme for its native KuCoin Token (KCS).
Additionally, KuCoin’s exchange supports around 500 cryptocurrencies, which is much more than you get with Binance. Its exchange trading fees are also some of the lowest in the business (0.10%).
KuCoin’s exchange doesn’t support any fiat trading pairs, so all your exchange trades need to be crypto-crypto.
You can buy crypto with KuCoin through its instant buy platform, but the fees for doing so are sky-high (2.5% to 8%). KuCoin was also hit with a notable hack in 2020 that saw $275 million in crypto disappear from the platform due to the leak of a hot wallet key.
But if you want to access a slew of excellent crypto-related features, KuCoin is a suitable Binance alternative.
- Fantastic selection of extra features.
- Supports 500+ cryptocurrencies.
- Very fast onboarding process.
- Low exchange trading fees.
- Most features available in the UK with KYC verification.
- Doesn’t support any fiat trading pairs on its exchange.
- High transaction fees for debit/credit card purchases.
- Hit by a $275 million hack in 2020.
CEX.io: Best for Supported Cryptocurrencies
|Countries||150+ countries including the UK and EU|
|Cryptocurrencies||BTC, ETH, DOT, XRP, SHIB, + 95 more|
|Trading Fees||0.25% for exchange trades, 7%+ for instant buys|
|Funding Options||UK bank transfer (via FPS), SWIFT, SEPA, credit and debit card, Skrill, Epay, Advcash, crypto deposit|
CEX.io is a multinational crypto trading company that was established in 2013. It made a name for itself as one of the first exchanges to allow fiat to crypto trades, and it now boasts more than 4 million registered users in over 150 countries.
Investors with CEX.io have access to the firm’s advanced exchange and its user-friendly instant buy platform. Its primary benefit is that it supports more than 95 cryptocurrencies, which can all be purchased with GBP using CEX.io’s instant buy feature. Or you can deposit crypto to your account and get access to a slew of altcoins in the firm’s exchange.
Like Binance, CEX.io offers a great selection of extra features, such as high-yield crypto staking and crypto-backed loans, though not all features are available in the UK. CEX.io also supports a wider range of funding options than you find at most exchanges, including UK bank transfers (via FPS), Skrill, Epay, and Advcash.
When it comes to pricing, CEX.io’s exchange fees are slightly higher than what you get at Binance (maximum 0.25%), but they’re still competitive. That said, the firm charges very high fees for its instant buy feature (minimum 7%) and its system of account and trading limits is about as confusing as it gets.
Despite these shortcomings, if you’re willing to pay more in fees, CEX.io is a solid Binance alternative for anyone that wants access to a range of popular altcoins.
- Supports more than 100 cryptocurrencies.
- Competitive exchange trading fees (maximum 0.25%).
- High-yield crypto staking available.
- Long-running exchange with a good security track record.
- Very high instant buy fees (minimum 7%).
- Not all features are available in the UK.
- Confusing system of account and transaction limits.
My Favourite Binance Alternatives
Binance is a powerful and popular crypto exchange, but its lack of customer support and its history of security and legal concerns have some people looking elsewhere for their crypto trades.
Coinbase Pro is my top choice if you’re primarily looking for a high-volume exchange with support for dozens of GBP trading pairs. Alternatively, CoinJar is a worthy option if you’re a UK-based investor who wants to keep their trading fees at an absolute minimum.
But what do you think? Which of these trading platforms would you pick as your preferred Binance alternative? Or is there another place you prefer?
Let me know in the comments below!