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Binance Alternatives (2022)

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Binance is one of the largest and most popular crypto exchanges on the planet thanks to its low fees and huge number of supported cryptocurrencies.

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 Pro: Best High-Liquidity Exchange

Countries 100+ countries, including the UK and EU
Cryptocurrencies BTC, ETH, SOL, AVAX, DOGE, + 45 more
Trading Fees 0.50% maximum
Funding Options UK bank transfer (via FPS), SEPA transfer, crypto deposit

Coinbase Pro is the crypto exchange and advanced trading terminal for Coinbase, one of the world’s largest crypto platforms. The company launched in 2012 and it now has more than 68 million users in more than 100 countries.

When compared to Binance, Coinbase Pro is a solid alternative for traders who want access to a high-liquidity exchange. Although Coinbase Pro doesn’t have as many supported cryptocurrencies (50+ at the time of writing) as Binance, it offers 45+ GBP-crypto trading pairs, which is 3 times more than you get at Binance.

Additionally, even though Coinbase isn’t as widely available around the world, it does offer a relatively quick onboarding process and 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 Pro over Binance.

For starters, Coinbase Pro’s trading fees are more expensive (maximum 0.50%), and the company doesn’t offer futures and OTC trading or crypto-backed loans. But Coinbase Pro does comes with access to the feature-packed regular Coinbase platform too.

All things considered, Coinbase Pro 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.

Advantages

  • Well-established and regulated company.
  • Popular, high-volume crypto exchange.
  • Offers 45+ GBP-crypto trading pairs.
  • Access to all of Coinbase’s features.

Disadvantages

  • Higher fees than Binance (0.50% max).
  • Doesn’t have futures or OTC trading.
  • Supports a much smaller number of cryptocurrencies (50+).

Coinbase WebsiteCoinbase Pro Review

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 around 30 supported GBP-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.

Advantages

  • Very low exchange trading fees (maximum 0.10%).
  • Around 30 GBP-crypto trading pairs.
  • Very quick onboarding process.
  • Fully registered FCA cryptoasset firm.

Disadvantages

  • 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.

CoinJar WebsiteCoinJar Review

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.

Advantages

  • 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.

Disadvantages

  • Higher trading fees than Binance.
  • Offers few extra features beyond its exchange.

Bitstamp WebsiteBitstamp Review

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%).

The downside?

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.

Advantages

  • 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.

Disadvantages

  • 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.

KuCoin WebsiteKuCoin Review

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.

Advantages

  • 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.

Disadvantages

  • Very high instant buy fees (minimum 7%).
  • Not all features are available in the UK.
  • Confusing system of account and transaction limits.

CEX.io WebsiteCEX.io Review

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.

My favourite Binance alternatives are Coinbase Pro or CoinJar.

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!

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