7 Best Coinbase Alternatives - Save Money & Privacy (2021)

This guide shows you all the best Coinbase alternatives you need to know.

Don't worry - you won't need to give up any of the ease-of-use that Coinbase is famous for.

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Best Coinbase Alternatives

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  • Popular Exchanges
  • eToro exchange logo
    eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.
    BUY NOW at eToro's Secure Site

    This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

  • Coinmama exchange logo
    Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
    BUY NOW at Coinmama's Secure Site
  • bitpanda exchange logo
    Bitpanda
    • Best for Germany, Netherlands, Italy, France & rest of Europe
    • Extra features like ability to buy bullion
    • Trusted exchange
    BUY NOW at Bitpanda's Secure Site

Chapter 1

Coinbase Alternatives USA

eToro

etoro homepage

eToro is one of the best trading platforms for Americans to buy and sell Bitcoin and other cryptos. It features an easy-to-use trading interface with support for many cryptocurrencies.

It's also our top pick for nearly every country it operates in (which is many)!

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Gemini

gemini homepage

Gemini is one of the most trusted and well-regulated exchanges in the US. It even supports residents of New York state, which makes it the only Coinbase alternative to do so.

Swan Bitcoin

swan bitcoin homepage

Swan Bitcoin is our top pick if you are looking to do a dollar cost averaging strategy of buying Bitcoin in the USA. It makes it easy to buy Bitcoin on a predictable regular schedule which takes the guess work out of buying Bitcoin at the right time.

If you want to find a more complete list of all the exchanges supported in the US, check out our US exchange page.

Chapter 2

Coinbase Alternatives UK

eToro

etoro homepage

eToro is one of the largest trading platforms in the UK, and one of the most popular as well. It features an easy-to-use trading interface with support for many cryptocurrencies.

UK users love eToro because its so fun and fast to get started and they have some great deposit options for GBP.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

CoinJar

etoro homepage

Established in 2013, CoinJar makes it easy to buy, sell and spend cryptocurrency in the United Kingdom. CoinJar's iOS and Android apps allow users in the UK to easily trade cryptocurrencies on the go.

If you want to find a more complete list of all the exchanges supported in the UK, check out our UK exchange page.

Chapter 3

Coinbase Alternatives Canada

Bitbuy

bitbuy

Bitbuy is based in Canada and is a crypto exchange platform. You can deposit CAD via wire, Interac and bank transfer.

Bitbuy supports Bitcoin, Ethereum, Litecoin and many other coins. It also features of the lowest fees in Canada.

Satstreet

Satstreet homepage

Satstreet is a Canadian exchange serving individuals and businesses looking to buy larger amounts from $25k to over $10M CAD. Because you are buying Bitcoin, ETH or other crypto in bulk, you will pay some of the lowest fees in Canada.

Coinsmart

Coinsmart homepage

Coinsmart is a Canadian exchange. It allows users to buy and sell Bitcoin and all major cryptocurrencies in Canada. Customers can buy and sell bitcoin and ether using Interac e-Transfers, bank transfers, SWIFT, and credit/debit card. New users will receive $20 CAD in BTC once they deposit at least $100 CAD.

If you want to find a more complete list of all the exchanges supported in Canada, check out our Canadian exchange page.

Chapter 4

Coinbase Alternatives Europe

eToro

etoro homepage

eToro is again our top pick for European users due to its ease of use and quick set up. It's other features, such as copy trader, are also great perks other exchanges don't offer.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

BitPanda

bitpanda

BitPanda is based in Europe and is a crypto exchange platform. You can deposit euro via NETELLER, Skrill, SEPA, credit card and many other payment methods. BitPanda supports Bitcoin, Litecoin, Ethereum and many other coins. Users from all of Europe are able to use Bitpanda and it is regularly a favorite among our European readers.

Coinmama

Coinmama homepage

Coinmama allows European customers to buy bitcoin quickly and easily. They charge a 4.9%-5.9% (depends on volume) fee on each purchase. Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.

Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.

If you want to find a more complete list of all the exchanges supported in Europe, check out our European exchange page.

Chapter 5

Coinbase Alternatives for Other Countries

eToro

etoro homepage

eToro again tops the list of Coinbase alternatives for all other countries. The amazing user interface, copy trader features, and ide country support make it easy to recommend to new users getting into the crypto and bitcoin space.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

BitPanda

bitpanda

BitPanda has some of the widest country support options out there today. That means it ranks highly in our list of great Coinbase alternatives for the rest of the world. You should definitely check them out!

Coinmama

Coinmama homepage

Coinmama allows customers in almost every country to buy bitcoin. They also offer the fastest identity verification in the business (taking only about 10-15 minutes to fully verify)!

Want to buy using Coinmama? This step-by-step guide will show you how to do it.

Paybis

Paybis homepage

Paybis is a popular cryptocurrency exchange with wide country support (currently serving over 180 countries). It's also growing fast and becoming a favorite go to, easy-to-use exchange for many readers. They are also registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.

Chapter 6

Why Not Choose Coinbase?

Why Choose a Different Cryptocurrency Exchange than Coinbase?

There are many reasons you might not want to do your cryptocurrency trading or buying on Coinbase.

Poor Reviews

If you look at review sites, you will find that Coinbase is VERY poorly reviewed.

For instance, Trustpilot gives Coinbase a rating of ‘Bad’, with 82% rating it either “Bad” or “Poor” and only 15% rating it “Great” or “Excellent”.


Coinbase trustpilot reviews
Coinbase doesn't have the best reputation

Limited Payment Methods

In most countries, Coinbase offers very few payment options.

For the most part, you’ll be stuck using standard bank transfers or really high fee card purchases or bank wire transfers.

Sometimes you aren’t even allowed to use a credit card at all.

No Proof of Reserves

proof of reserves

Many Bitcoin enthusiasts got into Bitcoin (BTC) because they like the fact that there is a cap on supply. This prevents inflation from occurring.

However, if a large institution like Coinbase is holding enough digital assets on deposit, they can use them to manipulate the market.

As long as enough people don’t withdraw their coins at once, it will always appear as though your coins are sitting in your account.

Fractional Reserve Banking is More of the Same

This is called fractional reserve banking (because the institution only has a fraction of the total number of coins on deposit).

This is a way around the supply cap because when you deposit your coins on Coinbase, you essentially have an IOU from coinbase for your coins.

Coinbase may actually be using your coins, such as Bitcoin Cash, Dash, EOS, Ethereum Classic (ETC), Litecoin to trade or manipulate the market.

There is no way of knowing for sure unless you go to withdraw your Bitcoins or altcoins. And even if they can give you your coins, they may have just taken them from another depositor.

This is what happened with Mt. Gox and Bitfinex’s Tether.

We now have a way for exchanges to cryptographically prove they have full reserves via Blockstream’s Proof of Reserves tool.

However, cryptocurrency exchanges must agree to the audit. So far the only exchange that has done so and passsed is Kraken.

Downtime

Coinbase is known for being down during big price moves.

During the 2017 crypto boom, Coinbase went down or had delays 99 times.

That is almost once every 3 days…

And this can be very aggravating if you are trying to sell Bitcoin or buy or move your altcoins during major market movements and you cannot do it.

That is what thousands of traders were met with on a daily basis in 2017.

Coinbase maintains that these outages and delays are due to various technical issues. But many users wonder if it is to take advantage of market conditions using user funds.

Regardless of the reason, if you want an cryptocurrency exchange that has a more reliable server status, one of the exchanges listed above may be a better fit for you.

Intrusions of Privacy

Neutrino and Hacking Team

In 2019, Coinbase announced they had acquired blockchain analysis firm Neutrino.

What they did not mention at the time (but was discovered in the following week) was that Neutrino was founded by ex-Hacking Team members.

According to Wikipedia,

HackingTeam is a Milan-based information technology company that sells...its products and services to governments with poor human rights records, including Sudan, Bahrain, Venezuela, and Saudi Arabia.

Coinbase had effectively hired a blockchain spyware development startup to monitor user on their platform.

Vice ran an editorial on Neutrino’s past and Coinbase acknowledged it, but initially brushed it off.


Vice article on neutrino

One week later, Coinbase agreed to “transition out” the members of Neutrino who had previously been a part of Hacking Team.

We took some time to dig further into this over the past week...those who previously worked at Hacking Team..., will transition out of Coinbase.

bryan armstrongBrian Armstrong CEO, Coinbase

The damage had been done, though. Many Bitcoiners called on others to #DeleteCoinbase.

We now know that Coinbase is utilizing Neutrino’s tech to discover as much as they can about your transactions on their platform.

And Neutrino’s story doesn’t end here.

Coinbase Work with DEA and IRS

In June of 2020, US governmental contracting disclosure documents surfaced.

These documents showed that Coinbase had bid on a contract to supply the IRS and the DEA with data designed to doxx the identities behind Bitcoin (BTC) addresses.

coinbase dea irs collusion

Coinbase Works with Secret Service

The following month in July 2020, it was also discovered that Coinbase had secured a 4 year contract to provide this data to the US Secret Service.

Brian Armstrong had this to say about the situation:



If that is something that you’d prefer to keep to yourself, you may want to choose a different exchange.

In February of 2019, Coinbase listed XRP for sale on its platform, and has been offering it ever since.

That is, until January of 2020 when the SEC sued XRP founding company Ripple Labs for selling unregistered securities.

Since Coinbase sold XRP as well, they too could be in trouble.

While no lawsuit against Coinbase has been made by the SEC, that doesn’t mean one isn’t coming.

And worst of all, if you bought XRP on Coinbase, you are not allowed, to sell it or convert it.

Coinbase is effectively holding your coins hostage on its platform to save itself from further legal liability.

More Coinbase Alternatives

gemini and kraken

There are a few more websites better than Coinbase out there.

For instance, Gemini is an app like Coinbase that is one of the fastest-growing Bitcoin (BTC) exchanges globally.

Unfortunately, it supports limited areas such as the U.S., Canada, Hong Kong, Singapore, South Korea, and the United Kingdom.

However, Gemini’s advantage is that it doesn’t charge fees for wire deposits or withdrawals .

Kraken is another company similar to Coinbase.

It offers some of the best security and privacy among centralized exchanges.

However, the likes of CEX.IO, Coinmama, and Luno have something for everyone looking beyond Coinbase, which is why they are among our list of best Coinbase alternatives out there.

Uniswap Flippening

If you are interested in cryptocurrency trading ETH and ERC20 tokens and prefer to use decentralized exchanges, then the biggest one right now is Uniswap.


uniswap homepage


On Uniswap, users can trade between various trading pairs via Uniswap’s smart contracts without handing over their coins to centralized exchange. Instead they are deposited into the smart contract which then handles the trades.

The most interesting thing about Uniswap right now though is that its trade volume recently eclipsed that of Coinbase’s.


uniswap overtakes coinbase on volume


Conclusion

These are the best Coinbase alternatives on the market in 2020. They offer a good mix of improved privacy, better fees, and less downtime.

All of these are issues Coinbase has struggled with.

But what do you think? Are we missing a great exchange?

Hit that contact button to share your favorite Coinbase alternatives with us.

Or share this post on social media and let’s start a discussion!

Frequently Asked Questions

Is Binance exchange a good alternative to Coinbase?

Binance can be a good alternative to Coinbase if you live in a country that Binance supports. based in Malta, Binance is one of the largest crypto exchange platforms on Earth. They offer traders many trading pairs and probably the largest selection of coins on the market. The Binance Mobile App helps customers make transactions on the go. Customer support offers written and video guides, simple word explanations, and a ticket system for those who want get in touch with the team and ask questions about trading or investments. Support is also available in multiple languages.

Is Localbitcoins.com a good alternative to Coinbase?

LocalBitcoins is a peer-to-peer bitcoin trading site where people from different countries can exchange their local fiat currencies, such as US dollars (USD) or Euro (EUR) into bitcoins. LocalBitcoins is not a great alternative to Coinbase unless you don’t mind meeting your trading partner in person.

About the Author: Jordan Tuwiner

author

Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.

He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.

To learn more about Jordan, see his full bio.