10 Best Binance Alternatives & Options in 2024

Read this review to compare and select among the list of the best Binance Alternatives and understand why Binance is popular in today’s world:

Binance is the biggest cryptocurrency trading exchange in terms of total and daily trading volumes, user base, product variation, and expansive geographical availability. While centralized exchanges managed a total yearly trading volume of $14 trillion in 2022, processed $9.5 trillion alone, representing a 67% market share.

It has a user/customer base of 90 million from around the world. The company offers different types of services including exchange/market, labs, launchpad, academy, research, listing services, wallet, charity, NFT, and others.

Top Binance Alternatives – Detailed Review

Binance vs competitors in crypto volume (amount in $billion dollars):

[image source] 

Introduction to Binance

Binance was founded in 2017 in China by a Chinese-Canadian developer Changpeng Zhao, who is the CEO of the company, and Yi He who is the CMO of Binance and heads Binance Labs. The Binance.US which is dedicated to US citizens was launched in 2019.

Binance exchange is available in most locations except Singapore and Ontario. Users in quite several countries are also restricted from using some services due to regulatory concerns. Binance is mainly concerned with supporting buying and selling of cryptocurrencies.

Traders can do so using fiat money through banks, credit/debit cards, and several internet payment methods as well as other cryptocurrencies. Binance also supports active/spot trading of several cryptos, stablecoins, and fiat pairs by speculation. It allows users to trade with margins of up to 10x.

Binance crypto exchange also supports the trading of cryptocurrency derivatives. These include options, dual investments, and futures. For active trading, Binance allows traders to follow each other’s trades. For instance, beginner traders can follow expert traders and place trades based on their moves or analyses/profitability/trade wins, etc.

Binance also supports peer-to-peer trading where users can sign up and deposit crypto and fiat to trade directly with others. Binance also offers a crypto trading desk or OTC.

Apart from crypto trading, Binance supports crypto listing where new projects can list and market their tokens. Here, ordinary customers can rely on it to invest in or trade newer tokens listed on the platform. It also offers market and trade research, detailed trade analytics, research tools, and resources, and has a Binance Chain on which its native token BNB is built.

Users can spend BNB to reduce trading fees, which depend on the customer’s 30-day trading volume. Binance also offers other products like a crypto interest-based savings account, and crypto staking to allow users to earn passive income from their stored crypto, liquid mining, and others. It also supports NFTs listing and trading, swapping, swap farming, and strategy or bot trading.

Why is Binance so Popular

Binance is popular as a crypto exchange for several reasons as below:

• High-ranking Products: Binance.US features among the Forbes Advisor’s best staking platforms.
• Low Trading Fees: Binance offers loyalty-customized trading fees based on the customer’s 30-day trading volumes. Those who trade more can pay less 0.1% maker and taker fees to 0.02% maker and 0.04% taker and a 25% off of maker and taker fees when paying with BNB token.
• Some products come with Zero Trading Fees: For instance, BTC spot trading pairs and BUSD spot trading pairs. To earn rebates you would have to trade between 1 m BUSD worth of volume in 30 days and keep at least 25 BNB in your wallet. Futures trading fees vary depending on the asset.
• High Trading Volume: Binance also offers a wide range of products and features compared to most exchanges. Users can find several different ways they can invest in crypto markets without sticking to one. Product innovation at Binance has helped make it so popular, especially during the 2017 crypto boom. Binance.US carries a high-security rating.
• Utility: BNB is not only used on Binance for paying trading fees and exchanging tokens. It is also used in travel bookings, entertainment, online, and financial service payments. BNB has also been a viable holding investment token for quite a while. Its huge growth and growth potential have helped make the exchange popular.

Detailed Line of Services and Products Offered by Binance

The below image shows Binance users, net income, and 24-hr peak trading volume:

Crypto Trading: Binance supports the trading of 500+ cryptocurrencies on spot and derivatives markets. These are paired with fiat, stablecoins, and each other.

Binance also supports instant buying of crypto via credit and debit cards or other Internet payment methods such as Google Pay and Apple Pay. You can also buy via banks or third-party platforms or even on Binance’s peer-to-peer platform. Binance allows users to sell their crypto to a bank or card using the Sell to Card feature.

Trading crypto is possible through swapping crypto with others, spot trading with speculative trading tools, and derivatives trading (trading futures and options). Users can also connect expert trading tools and bots using API, use strategy trading to automate trades and customize their trading strategies, social trading by following expert traders, or do dual investment trading.

Investment and Savings products: These include savings accounts, staking, liquid mining, etc.

Institutional Products: These include asset management, asset custody, VIP loans, APIs, market data, OTC, and institutional brokerage services that leverage Binance’s liquidity to offer services or products to their clients. It also offers token listing and marketing services.

Other Products: Binance also offers academy, lean and earn, charity, cloud services, labs, a launchpad for listing and introducing your crypto project, research, and data, Binance Gift Card for spending crypto to earn crypto rewards, Binance live for events and NFT, games, shows, trade competitions, and the metaverse.

List of the Top Binance Alternatives

Popular list of Binance options:

1. Crypto.com
2. Coinbase
3. Kraken
4. Gemini
5. Cex.io
6. Bisq
7. Bitstamp
8. eToro
9. Robinhood
10. Cash.app

Comparison Table of Alternatives to Binance

Detailed Review of Binance Alternatives:

#1) Crypto.com

Crypto.com is one of the excellent Binance Alternatives when it comes to crypto-fiat and fiat-to-crypto conversions. Launched in 2012 and listing over 250 cryptos, Crypto.com is not only a more secure platform but also wins in terms of crypto-branded card companies.

The card allows users to save and spend crypto easily via merchant stores and banks. They can earn cash back on purchases.

Customers also earn up to 14.5% when staking crypto. Trading fees depend on one’s monthly volumes and are capped at 0.40% (for a monthly volume of $25,000 or less) and reduced to 0% depending on the volume and amount of CRO tokens staked. It also provides advanced trading tools for active speculative traders besides simple buying and selling crypto for fiat.

Features:

• Pay and get paid in crypto. Receive or withdraw the crypto to the bank or spend easily with the Crypto.com branded credit card.
• Learn how crypto works and how to trade.
• Supports five other fiat currencies besides USD.
• Trading fees are discounted for those who hold at least 5,000 CROs.
• Up to $250,000 in FDIC insurance on U.S. dollar balances.
• Margin trading of up to 10x.
• NFT marketplace.
• Native blockchain and token CRO that can be spent on paying fees or purchases at merchant stores.
• Over-the-counter trading for high-volume trades and institutions.

How Crypto.com is Better than Binance:

Binance still charges lower trading fees, has listed more cryptos for trading, and offers more investment options but Crypto.com is better with respect to the following:

• Crypto.com is regarded well than Binance in regard to customer service. It scores better than Binance on Trustpilot in this regard.
• Crypto.com is also better for beginners than Binance. It is more popular in the US for sponsoring sports and in TV advertising campaigns.
• Crypto.com allows users to earn interest on crypto they loan to other users. Crypto.com is regarded better for most investors and merchants who need to receive crypto payments, than for traders.

Pros:

• High APY for staking.
• Low fees for high volume traders.
• Beginner-friendly app.

Cons:

• Not available in 50 US states.
• Has a history of being hacked, just like Binance.

Website: Crypto.com

#2) Coinbase

Coinbase is a highly trusted exchange for US traders than Binance. It offers more than 150 cryptos and numerous altcoins for trading. It allows users to buy and sell cryptos through banks, credit cards, debit cards, Google Pay, Apple Pay, PayPal, and other methods.

The exchange also features an advanced trading platform on which traders can find advanced order types, trade research and analytics tools, deep liquidity, and charting tools.

It is a place individual investors and institutions can invest in a range of products and hold their crypto assets for passive income. It also provides custody services for institutions.

Features:

• Coinbase debit card lets users earn crypto rewards of up to 4% as cash back on purchases paid using crypto. It lets users spend crypto seamlessly without having to manually convert it to cash.
• Custodial wallets for each of the cryptos listed. Coinbase also supports NFT token storage.
• Like Binance, Coinbase now has its own blockchain and crypto.

How is Coinbase better than Binance

• Coinbase is regarded as more secure. Deposits are covered with FDIC insurance (up to $250,000 is insured). For institutions, more security for assets is available for instance through vaults where companies and groups could require withdrawals to be approved by more than one party.
• Coinbase is easier to use and ideal for beginner traders and investors.
• Coinbase is listed as a stock on Nasdaq public stock market in the U.S. Binance is not.

Cons:

• High fees: It charges a 25% commission on staked assets. For advanced speculative spot trading, it charges 0%-0.60% depending on your 30-day trading volume and whether you are a taker or maker trader.
• Coinbase is more expensive than Binance with those trading less than $10,000 a month paying 0.5%. It reduces to 0.1% for very high volumes. Other fees such as withdrawal fees, 1% conversion to cash, 3.99% for credit card purchases, and 1.49% for bank purchases.
• For simple small instant trades, the crypto charges below 1.5% per trade (between $0.99 and $2.99 for amounts between $10 and $50 depending on the amount. On top of this, an additional fee may apply depending on the fiat deposit or purchase method.

Website: Coinbase

#3) Kraken

Kraken lists 185+ cryptos for buying, selling, and trading via spot speculation methods. You can also trade crypto futures on the platform. It also offers margined trading where users can place leverage trades up to 5x their trade value for spot traders and up to 50x for futures traders.

Founded in 2011, it is a more secure and proven platform than Binance. It is available in 190 countries and useful for individual as well as institutional investors. Pro and high volume and frequent traders can also opt for Kraken Pro to reduce trading fees.

Features:

• Buy crypto through a bank account, credit/debit card, Apple Pay, or Google Pay, among others.
• Withdrawal crypto to the bank account. It allows you to withdraw cash in up to eight different fiat currencies.
• Advanced charting, research, and analytics trading tools for speculative traders.
• Kraken Pro charges a trading fee of between 0.0% and 0.26% depending on your 30-day trading volume. Additional fees apply depending on the finding method. This varies between 0% for crypto funding, 0.5% for bank funding, and up to 3.75% + 25 euros for credit and debit card funding.

How Kraken is Better than Binance:

• Safety and security of assets: Kraken is regarded as a more trusted exchange for trading crypto than Binance.
• It won a banking charter in Wyoming in 2021. Kraken also has more stringent listing procedures.
• Binance offers more crypto products, more cryptos to trade, and lower fees though almost close to Kraken’s.

Pros:

• High rating on trust and safety/security.
• Low non-instant fee.
• Low-fee margin trading. High margins for futures trading – 50x.

Cons:

• Higher fees when not using Kraken Pro.

Website: Kraken

#4) Gemini

Gemini is a much more trusted exchange in the United States compared to Binance. The regulated exchange lets users buy, sell, and speculate-trade 100+ cryptos. It is audited by the New York Department of Financial Services and carries SOC type 1 and 2 certifications.

In addition to buying and selling crypto via bank and credit cards and debit cards, the exchange features an advanced trading platform with advanced charting and professional trading order types.

Gemini provides a credit card with which you can spend 60+ crypto easily on shopping at many merchant stores and earn up to 3% instant shopping rewards in form of crypto.

It also provides trading and crypto custody services for brokers, hedge funds, ETF issuers, banking service providers, and other institutions. This includes OTC, custody, customized trading experiences through API and support, and insurance for assets under custody.

Features:

• Crypto staking.
• Gemini Dollar which is a stablecoin with which you can trade or peg your assets in.
• Institutional products and services such as clearing and settlement services provide for off-order book pre-arranged transactions.
• NFT marketplace is known as Nifty Gateway.

How Gemini is Better than Binance:

• It is a more trusted exchange for trading in the US.
• It is also considered much more secure and safe for crypto assets. Binance, however, offers more crypto investment products, better staking APYs, and is available in more countries.
• It is also less costly to trade at Binance than at Gemini.

Pros:

• Trusted and secure exchange for crypto assets.
• Crypto rewards on purchases via the branded credit card are a huge plus.

Cons:

• Quite high trading fees. There will be different fees charged for API trading, orders placed via the web platform, custody fees, ActiveTrader fees (from 0% to 0.4% depending on 30-day volume and whether you are a taker or maker trader). There is also a connectivity fee, mobile fee, and market data fee.

Website: Gemini

#5) Cex.io

CEX.io, which started in 2013 and is available in 99% of countries and 48 US States, allows buying and selling of crypto using Visa, Mastercard, bank transfer (SWIFT, SEPA, ACH, Faster Payments), PayPal, and cryptocurrency. It lists 70+ cryptocurrencies.

The exchange, mostly like Binance, allows customers to trade crypto actively in speculation mode. For this, it has a trading platform that features multiple crypto trading pairs, allows advanced order marching, has a high liquidity order book, and supports high-frequency trading, and scalping strategies.

You can also, either as an individual or corporation, use APIs to connect auto trading platforms to leverage the best of CEX.io.

Features:

• Staking. Up to 22% APY.
• Fees of between 0.0% and 0.15 depending on your 30-day trading volume and whether you are a maker or taker trader.
• Margin trading. Up to 10x. Binance offers up to 20x.
• Trading APIs.
• Crypto collateralized loans.
• Deposit directly to the bank or card.

How CEX is better than Binance:

• CEX.io offers lower trading fees, makers: from 0% to 0.15%, and takers: 0.01% to 0.25%. depending on 30-day trading volume without requirements to hold any token. The fee rebates start after trading a volume of $10,000 or more in the previous 30 days.
• Binance fee ranges from 0.02% to 0.1% maker and 0.04% to 0.1% taker but one needs to hold at least 25 BNB tokens otherwise the regular fee is 0.1% maker and taker. Rebates also start higher at 1 million BUSD or more in 30 days. Therefore CEX is less costly for low, medium, and very high-volume traders.
• CEX.io has also never been breached security-wise. Apart from the above Cex.io advantages, Binance offers more crypto products and services and higher APYs for stakers.

Pros:

• Low fees.
• Regulated, licensed, and more trusted than Binance.

Cons:

• Limited educational resources.
• Lesser number of cryptos available for trading. Lower liquidity compared to Binance.

Website: CEX.io

#6) Bisq

Bisq is natively a Bitcoin trading platform, allowing users to buy Bitcoin with fiat through credit and debit cards, bank, cash by mail, cash deposit, face-to-face payments, Perfect Money, Money Gram, US Postal Money Order, WeChat Pay, Zelle, etc. It also supports payment with 100+ other cryptos and altcoins. It works as an app on Windows, MacOS, Linux, and Red Hat.

Unlike Binance, one does not need to register to transact on Bisq because it utilizes a decentralized platform. It works as a non-custodial trading platform, which means you keep private keys to your crypto. While Bisq only handles Bitcoin transactions, a user will need to create fiat or other crypto accounts.

A user with a Bisq account simply accepts an offer to buy Bitcoin from a peer, then sends the required fiat amount to their account using a fiat payment method accepted by the seller. A better way of buying is to make an offer to buy BTC, which peers can then accept before you send the money to them. The BTC is escrowed before payment is made.

Thus, one can also securely sell BTC on the platform.

Features:

• Up to 2 BTC per trade for those using altcoins as payment methods. Fiat payment methods have lower limits.
• Buy and sell crypto using numerous national currencies.
• Bisq DAO.
• Pay lesser trading fees when you pay using BSQ tokens.
• An initial deposit of 0.01 BTC is needed to guarantee the security of transactions.

How Bisq is Better than Binance:

• As a decentralized crypto exchange, Bisq allows users to trade directly with peers. This means better control of trades and the ability to customize trades better. It also gives them better control on n trading fees.
• Bisq lets customers fully control private keys to their wallets and as a non-custodial wallet, one can recover their wallets on their own even when the company goes bankrupt or fails. This, however, requires huge responsibility to manage your private keys as you get no assistance in case you lose the private wallet and the logged-in wallet is not accessible.
• Bisq supports over 50 fiat payment methods with which to buy and sell Bitcoin. Most of these are not available on Binance. However, unlike Binance, Bisq supports trading of just Bitcoin.
• As a decentralized exchange, it is legally accessible in more locations in the United States than Binance.

Pros:

• Decentralized exchange offers full wallet control.
• Better security for BTC holdings than offered by Binance.

Cons:

• Bisq offers higher trading fees than Binance. The combined BSQ fee is 0.5% (0.06% by maker and 0.44% by taker). The combined BTC fee is 1% (0.12% by maker and 0.88% by taker).
• Fewer crypto to trade.

Website: Bisq

#7) Bitstamp

Bitstamp, a long-standing crypto exchange, allows buying, selling, and active spot trading of 70+ crypto assets.

Unlike Binance, it does not charge any trading fees for trades of up to the previous 30-day $1000 worth of trading volume. Other fees vary from 0.0% to 0.4% depending on the trading volume and whether you are a maker or taker trader.

In addition to trading, it supports a staking feature though, unlike Binance, only Ethereum and Algorand are supported for now (more to come). Binance will offer over 100 options for staking and better APYs.

Features:

• Institutional products include APIs, and custom access for brokers, fintech, hedge funds, family offices, neo-banks, banks, prop traders, and aggregators.
• Trading and crypto usage guides.
• Pro-traders leverage advanced analytics and market research tools, charting, APIs, cold storage via BitGo, human support, and a Nasdaq-based order-matching engine.
• TradeView integration.

How Bitstamp is Better than Binance:

• Security-wise and in terms of trust score, Bitstamp is better than Binance. It says all the funds are backed 100% and available for withdrawal. They are also licensed on a 1:1 ratio and kept in cold storage. The exchange has been audited by a Big 4 firm since 2016.
• Bitstamp holds 50 licenses and registrations globally. It holds a New York BitLicense, EU Payment Institution License, is regulated by US FinCen and has a Money Transmission License in 40 US states in the U.S.
• Bitstamp also offers more aggressive cuts on trading fees than Binance. You can trade for free for up to $1000 in 30-day trading volume and don’t have to be a high-volume trader to earn trading fee rebates.

Pros:

• Zero trading fees without huge volume up to $1000 in 30-day trading volume.
• High trust score and ranking.

Cons:

• Few cryptos are supported for trading and staking compared to what is offered at Binance.

Website: Bitstamp

#8) eToro

eToro is one of the best Binance Alternatives to most other crypto trading platforms as far as copy and social trading is concerned.

This feature makes it more useful for traders, especially beginner traders, who do not have the skills to discover the best trade opportunities. Except that the feature comes at a cost and eToro supports a limited number of cryptocurrencies or 60+.

eToro’s CopyTrader and the Popular Investor program allow customers to find traders and instantly copy their trades and strategies. It lists thousands of traders from whom others can copy trades. These can earn income (1.5% of assets under copy) from their shared trades and strategies.

The long-tested social trading platform allows interaction, discussion, and sharing of trading ideas, strategies, and news. eToro also supports the buying and selling of stocks, CFDs, futures, metals, forex, commodities, options, and many others (over 40 financial instruments). It now allows investing in over 3,000 financial assets.

Features:

• Advanced charting, analytics, and market/trade research features for expert traders. Also research and news.
• Crypto staking: Earn income from your crypto savings.
• Buy crypto using PayPal, bank, credit, and debit cards, as well as other payment methods.
• Demo trading account.
• Multiple order types including risk-averse ones like Stop Loss order.
• Curated Smart Portfolios of Investment. The analysts craft investment strategies and customers can choose which investment portfolios to invest in. No management fees.
• Trading and investment education.
• Withdraw to the bank account. Receive and send crypto. Spend crypto and other assets via the eToro Card (via the eToro Money).
• Fractional stock investing as little as $10.
• Trade with margins up to 10x.

How eToro is Better than Binance:

• eToro offers better options in terms of investing in traditional assets other than crypto. Binance offers more cryptos in which one can trade and invest. eToro, however, offers crypto CFDs.
• eToro also wins in terms of copy and social trading features. It has tried and tested the platforms of thousands of expert traders from whom to copy. Expert traders also use the feature to earn from their trading skills.
• eToro also offers market commentary by experts.
• eToro offers ready portfolios in which one can invest. Their analysts offer these as recommendations to investors.
• eToro does not charge trading fees, only spreads.

Pros:

• No trading fees. Only pay spreads. 1% added to spreads for buying and selling crypto and crypto CFDs.
• Diversified investment options and assets.

Cons:

• A limited number of cryptos are supported.

Website: eToro

#9) Robinhood

Robinhood allows users to invest in, buy, sell, and swap Bitcoin, Ethereum, dogecoin, litecoin, Ethereum classic, bitcoin cash, and Bitcoin SV in the wallet. Hence Binance will offer more crypto investment options and products than Robinhood. For crypto traders, Binance still wins in terms of crypto trade and market research.

However, Robinhood also lets users invest in fractioned stocks for as little as $1, multiple ETFs products, commodities, and options. They can try to multiply their profits with margin trading (at a rate of 7% to 15%). It also allows customers to earn up to 4% with a Gold subscription (1.5% without), on idle or uninvested cash.

Features:

• Set recurring investments.
• Access and buy into IPOs.
• Get the first stock after signing up. Receive stock investment recommendations on your first trade.
• Financial knowledge. Real-time data and professional research.
• Up to $50,000 instant deposits.
• Cash Card for earning stock and crypto purchase rewards while spending the assets easily. Re-invest in earned weekly bonuses. Spend at merchant and ATM stores.
• IRA account.

How Robinhood is Better than Binance:

• Offers stocks, ETFs, mutual funds, options, and commodities investing. Binance offers crypto, futures, and options with more diversification on crypto products.
• Robinhood has upper instant deposit limits.
• Robinhood offers IRA accounts.
• Robinhood lets you buy and sell crypto for free. Only pay spreads.

Pros:

• Diversify investments in traditional finance. Buy into popular companies.
• FDIC and SIPC coverage on investments. Crypto excluded on FDIC.
• No limits on trading.
• No fees for trading. Just spreads.

Cons:

• Robinhood doesn’t support sending crypto to external wallets. You must sell to cash to withdraw or invest in stock.
• Robinhood supports only 19 cryptos while Binance supports 500+.
• Fewer crypto trading orders (limit and market orders) and scanty trading platforms for crypto speculation traders. Binance offers more.
• The crypto wallet is still in beta. Limited for US citizens.

Website: Robinhood

#10) Cash.app

Cash.app allows people to send money to peers, whether the funds are in their app cash balance or bank account. The app allows linking MasterCard, Discover, and American Express.

It allows sending up to $1000 in 30 days period and the limit increases if you verify your details.

The app lets customers receive payments or transactions in their account and they can choose to invest or withdraw to a linked bank account (takes 1-3 business days for bank transactions or instantly to a credit or debit card).

The Cash debit Card also lets customers spend their balances on online purchases and get purchase rewards through cash discounts. With the Card, you can deposit paychecks and tax refund checks directly into the account.

The checks will clear faster than when deposited in ordinary banks. Cash.app has FDIC insurance coverage for up to $250,000 in deposits just in case something wrong happens with the app.

In terms of cryptocurrencies, the app supports selling, buying, sending, and receiving Bitcoin only.

Features:

• Tax filing is made easier and is free.
• Can be used by people aged 13+. Cash.app has become very popular among the young generation.
• Cold storage for Bitcoin to improve security. The app also offers fraud protection.
• Customers can pause spending on a card immediately for instance if it is lost or left somewhere.
• Push email, and text notifications regarding account usage.

How is Cash.app Better than Binance:

• Allows investing of stocks. Binance is made purely for crypto but the cash.app is ideally a mobile payment, banking, and investing app.
• Both allow buying, selling, and investing in Bitcoin. Binance offers more crypto options but Cash.app has better cash management features including sending fiat directly to peers, from banks, cards, or even app balances.

Pros:

• Send and receive fiat money to peers, for free. Send up to $1000 per month without verifications.
• Invest in fractioned or whole stocks at no fees.

Cons

• 3% charged on credit card transactions. Instant deposits cost 1%.
• Only Bitcoin is supported. Binance offers more deposit and investment options, staking, crypto trading, and many other investment options unavailable on the Cash app.

Website: Cash.app

Factors to Compare Other Exchanges Against Binance

#1) Fees: This is the most important factor for many customers. To compare fees, you need to understand most (debit/credit card, bank, and Internet payment methods) deposits are dependent on clearing institutions or the company handling the transactions. Most of these range between 2-4.99% and many exchanges do not add any cost on top of that.

Apart from deposit fees, look at trading fees which are mainly dependent on the crypto exchange. Most exchanges charge between 0% to 2% for both maker and taker fees. You will be able to get free trading on quite several exchanges, especially depending on your 30-day trading volume, and are most appropriate for very active traders.

Other types of fees include withdrawal fees and quite a number charge nothing. Exchanges with other types of products charge relevant fees for those products. As such you would want to look at margin trading fees, staking fees, saving account fees, swapping fees, and buying and selling fees.

#2) Security and Safety of funds: Even before FTX, people have been warned about crypto scams. In addition to minding the business and operation of a company, it is essential to consider if their platforms are secure and safe to invest crypto into. Quite a number provide insurance for deposits in addition to extra wallet security layers.

#3) Type and Variety of Products and Services: This depends on what you want to do on the platform. Make sure that the exchange you are comparing offers that service. In addition, ask if and what other investment and trading products are available should you desire to diversify later on.

An exchange may support derivatives trading, options trading, stock trading, forex trading, metals trading, etc. in addition to crypto trading. Variety also extends to types of accounts with some supporting institutional and asset management accounts.

Other products and services could include staking, saving, liquidity mining, dual investment trading, bot and strategy trading, token listing, NFT marketplaces, DeFi, gaming, metaverse, etc.

#4) Ease of Use and Demo: Nearly all exchanges have guides, videos, articles, and tutorials for buying and selling crypto on their platforms. For active speculative trading, you may check those with demo trading accounts and software, and the capability to follow/copy trades by experts.

#5) Trading Support Tools and Services: For active speculative trading, you may check for the availability of trade research analytic tools such as charting tools, dairy commentaries from experts, in-house research and analyses of assets, etc. You may want to check how detailed is the trading platform.

For instance, what order types are available, which pairs can be traded, API availability, availability of cash out to banks, branded rewards debit and credit card, etc.

#6) Type of Wallets supported: Centralized exchanges offer centralized custodial wallets while decentralized exchanges offer non-custodial ones. The latter should be safer to use just in case you do not trust an exchange.

FAQs on Binance Options

Conclusion

Binance is a very competitive cryptocurrency exchange unmatched in terms of trading fees charged, offered product and service variations, investment options available, user/customer base, trading volumes, and the number of cryptos listed for trading. This tutorial looked at these Binance alternatives in light of these and more factors.

There have been many claims against Binance. Besides Binance, there are many options available that suit other clients’ desires. Given the issues at Binance, many traders in the U.S. have continued to use Coinbase, which is a popular option for individual and institutional traders looking for Binance Alternatives. It attracts many people in traditional finance being a publicly traded stock.

eToro, Robinhood, and Cash.app are favorite Binance Alternatives for people in traditional finance who want to diversify into crypto, bit by bit. eToro, for instance, allows customers to trade more than 1,000 financial assets in addition to crypto. It is also much more advanced than Binance in terms of social and copy trading.

Bybit, Kraken, Bitstamp, and Cex.io are some of the more trusted exchanges that rival Binance in terms of trading fees. They are great Binance Alternatives for traders looking for high-volume active trading that is not very costly.

Research Process:

• Total Binance Alternatives Previously Listed for Review: 30
• Total Binance Alternatives Actually Reviewed: 10
• Time Taken to Research this Article on Binance Alternatives: 2 days