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Coinbase Alternatives (2022)

Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

Coinbase is one of the biggest names in the crypto industry. It offers an easy-to-use instant buy feature for seamless cryptocurrency purchases and a slew of other crypto-related features.

But Coinbase is known for its hefty fees, annoying identity verification requirements, and slow customer support. As a result, a lot of traders understandably want to look elsewhere for a platform that can meet their crypto needs.

Thankfully, there are many Coinbase alternatives out there that you can use to buy, sell, and invest your crypto.

In this article, I’ll take a closer look at the top crypto brokers and exchanges that you can use when you think that Coinbase just won’t cut it.

Alternatives to Coinbase

CoinJar: Best for Low Trading Fees

Countries UK and Australia
Cryptocurrencies BTC, ETH, XRP, LTC, YFI, + 45 more
Trading Fees Instant Buy: 1%
Exchange: 0.10% or less
Funding Options UK bank transfer (via FPS), debit and credit card, crypto deposit

An Australian-based crypto trading platform that was founded in 2013, CoinJar is one of my top choices if you want a reliable and cost-effective Coinbase alternative.

Although it’s an Australian company, CoinJar has offices in the UK and it’s a fully registered cryptoasset firm with the Financial Conduct Authority (FCA).

CoinJar’s biggest advantage over Coinbase is that its instant buy service is way cheaper (flat 1% rate) and its fee structure is far more transparent.

If you’re an advanced trader, you’ll also save a lot in fees because CoinJar charges a maximum of 0.10% on its exchange. Plus, onboarding with CoinJar is super fast and GBP deposits process very quickly using UK bank transfers.

That said, CoinJar doesn’t offer many extra features like crypto staking and its exchange has lower trading volume than what you can get at Coinbase Pro. But CoinJar does provide a cheaper way to buy crypto using a debit or credit card (2% fee), so it’s a solid all-around choice if you want to avoid the fees (and the lack of transparency around them) at Coinbase.

Advantages

  • Very fast onboarding and quick GBP deposits.
  • Fully registered with the FCA as a cryptoasset firm.
  • Instant buy and exchange trades are much cheaper.
  • Affordable crypto purchases with a debit or credit card.

Disadvantages

  • Lacks some extra features like crypto staking.
  • Exchange has less trading volume than Coinbase Pro.
CoinJar WebsiteCoinJar Review

Gemini: Best for Security

Countries 50+ countries, including UK, EU, US, and Canada
Cryptocurrencies BTC, ETH, LTC, DOGE, DAI, + 60 more
Trading Fees Instant Buy: 0.50% convenience fee + either £0.75 to £2.25 (under £150) or 1.49% (over £150)
Exchange: 0.35% or less
Funding Options UK bank transfer (via FPS or CHAPS), SWIFT transfer, debit and credit cards, crypto transfer

The New York-based crypto trading platform Gemini is easily one of Coinbase’s biggest competitors.

From a user experience perspective, Gemini offers many of the same benefits, including a seamless interface, basic and advanced trading terminals, and a similar set of extra features.

Like Coinbase, Gemini has instant buy fees that are very expensive. But Gemini offers lower trading fees on its advanced exchange. It also supports more payment methods and cryptocurrencies. That said, Gemini has fewer extra features than Coinbase and its exchange has a lower overall trading volume.

What sets Gemini apart from Coinbase is its commitment to both security and working with regulators. Gemini is a fully registered cryptoasset firm with the FCA in the UK. It was also the first exchange to receive a BitLicense in New York state. So if working with a highly regulated and security-focused exchange is a priority, Gemini is worth checking out.

Advantages

  • Fully registered cryptoasset firm with the FCA.
  • Offers more payment methods than Coinbase.
  • Cheaper trading fees on its advanced exchange.
  • User-friendly interface.

Disadvantages

  • Has fewer additional features.
  • Exchange has lower trading volume than Coinbase.
Gemini WebsiteGemini Review

Crypto.com App: Best for Altcoins & Extra Features

Countries UK, EU, US, Canada & Singapore
Cryptocurrencies BTC, ETH, AAVE, MATIC, COMP, + 165 more
Trading Fees Instant Buy: Fee built into exchange rate
Exchange: 0.16% or less
Funding Options UK bank transfer (via FPS), debit and credit card, crypto transfer

Established in 2016, Crypto.com is one of the fastest-growing crypto trading platforms in the world. Most of its services are offered through the Crypto.com App, but it also has a desktop-based exchange with low fees for advanced traders.

On the Crypto.com App, you can buy and sell way more cryptocurrencies (170+) than you can with Coinbase. You can also access many more features, such as the awesome crypto-backed Crypto.com Visa Card, an interest-bearing account called Crypto Earn, and a rewards programme that’s based on the platform’s native token, CRO.

The downside is that Crypto.com isn’t transparent with its fees. You won’t be charged any explicit fees when trading on the app, but you’ll end up with a not-so-great exchange rate. Plus, the platform is almost exclusively mobile app-based (besides its advanced exchange), so it’s best for people who prefer to place trades from their phones.

Advantages

  • Offers more than 170 cryptocurrencies.
  • Lets you earn interest on your crypto.
  • com Visa Card is one of the top crypto debit cards.
  • Fast-growing platform that frequently releases new features.

Disadvantages

  • Exchange rates in the app usually aren’t great.
  • Operates almost exclusively on mobile with limited desktop support.
Download Crypto.com AppCrypto.com Review

Kraken: Best for Advanced Traders

Countries 200+ countries, including the UK and EU
Cryptocurrencies BTC, ETH, ADA, DOGE, XRP, + 80 more
Trading Fees Instant Buy: 0.9 to 1.5%
Exchange: 0.26% or less
Funding Options UK bank transfer (via FPS and CHAPS), SWIFT transfer, credit and debit card, crypto deposit

Designed specifically with the experienced crypto enthusiast in mind, Kraken is a crypto trading platform and exchange that was founded in 2011. It is headquartered in San Francisco, but it has offices in London, too. Kraken also recently became an SPDI designated bank in the US, making it one of the first major crypto exchanges to hold that title.

When compared to Coinbase, Kraken’s main claim to fame is that it offers substantially cheaper trading fees. This is true for both its instant buy platform (maximum 1.5% fee) and its exchange (0.26% fee). Kraken also offers 35 GBP trading pairs and it offers more advanced features like OTC trading and the high-end Cryptowatch trading terminal.

The catch? Kraken’s interface isn’t as user-friendly as Coinbase’s, so it’s not necessarily a great choice if you’re new to crypto. Plus, while Kraken offers some staking, it doesn’t have as many extra features. But if you’re looking for a high-powered, yet low-fee exchange, Kraken is a sure bet.

Advantages

  • Long-running exchange with a solid security track record.
  • Competitive fees for instant buys, as well as exchange transactions.
  • Opportunity to trade using the powerful Cryptowatch terminal.

Disadvantages

  • Exchange interface is a bit more complicated compared to alternatives.
  • Limited customer support options.
Kraken WebsiteKraken Review

Luno: Best for First-Time Crypto Investors

Countries 40+ countries, including UK and EU
Cryptocurrencies BTC, ETH, LTC, BCH, USDC, LTC
Trading Fees Instant Buy: 1.5%
Exchange: 0.10% or less
Funding Options UK bank transfer (via FPS), crypto transfer, credit and debit card

Originally founded as BitX in 2013, Luno is a crypto exchange and broker that’s based in the UK. Although Coinbase is user-friendly in its own right, Luno makes it even easier to buy crypto as a new trader, and it costs just a fraction of the price.

With Luno, you have a choice between a beginner-friendly instant buy feature and a more advanced exchange-based trading terminal. Regardless of how you trade with Luno, you’ll save a lot in fees compared to Coinbase as Luno charges just 1.5% for Instant Buys with bank transfers and a maximum of 0.10% on its exchange.

I also like that Luno’s exchange rates are normally pretty close to the real market value when you buy or sell crypto. Luno also provides very fast GBP deposits via FPS and a relatively affordable way to buy crypto with a debit card (3.5% fee). The only drawbacks are that Luno only supports 6 cryptocurrencies and it has less liquidity than Coinbase.

Advantages

  • Beginner-friendly interface.
  • Much more affordable instant buy and exchange fees.
  • Exchange rates are normally close to the real market rate.
  • Fast GBP deposits and relatively affordable debit card transaction fees.

Disadvantages

  • Supports only 6 cryptocurrencies.
  • Low trading volume on the Luno exchange.
Luno WebsiteLuno Review

My Favourite Coinbase Alternatives

If you’re okay with paying more in fees in exchange for a high-volume crypto trading platform that offers an assortment of nifty features, Coinbase might be a good option.

But if you want to cut costs, trade a larger number of cryptocurrencies, or access other sweet crypto investing tools, you might need to look beyond what Coinbase has to offer.

My favourite Coinbase alternative is CoinJar.

CoinJar is my preferred Coinbase alternative because it’s both cheaper and more transparent with its trading fees. It’s also an FCA registered cryptoasset firm and that its trading interface is about as user-friendly as it gets. Plus, the onboarding process with CoinJar is very smooth, so you can start trading almost as soon as you sign up.

But what do you think is the best Coinbase alternative? Which of these crypto trading platforms do you think shines above the rest?

Let me know in the comments below! Or ask any questions you might have!

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