Binance alternatives: 5 exchanges to consider

KuCoin is a well-known cryptocurrency exchange that is actually based in Singapore.KuCoin supports the purchase, sale and trading of a huge number of coins – over 460 at the time of writing, which is even more than Binance.

In terms of user interface and functionality, KuCoin is probably as close to Binance as you can get. The platform offers all the features both novice and experienced users could want, including derivatives trading, liquidity pools, lending services and the ability to buy crypto directly with SGD.

KuCoin also has regular competitions and giveaways that its users can participate in to have a chance at earning additional revenue. The platform even has its own native token, KCS, which can be used to engage with the decentralised finance ecosystem.

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Gemini is a New York-based cryptocurrency exchange that is available in over 50 countries. Being around since 2014, Gemini has a strong clientele and is trusted among the crypto community.Gemini has a very sleek user interface that is easy for beginners to wrap their heads around. The platform also offers advanced features, including a trading hub, a native wallet and a stablecoin that is pegged to the US Dollar.

Furthermore, Gemini Earn is available to Singaporean citizens, which lets users earn up to 8.05% APY interest on their assets.

For small transactions, Gemini’s fees are high compared to their competitors, ranging from 10% to 1.5% depending on the volume.

Users can minimise fees by using the active trader platform, but this has a relatively steep learning curve, making Gemini not ideal for beginners looking to avoid high fees.

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Gate.io is one of China’s oldest cryptocurrency exchanges and hosts the highest number of available coins compared to most popular platforms, with over 920.

Many of the coins you can buy and sell on the platform aren’t available on any other centralised exchange and have to be purchased using another cryptocurrency. This may be an inconvenient process for beginners, and the conversion fees can easily add up.

The appeal of using this exchange as an alternative to Binance is obvious – if you want access to a broad range of altcoins from a trusted exchange, Gate.io might be an option to consider.

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Kraken is another exchange with a well-established user base and safety profile. Their dealings, governance structures and security measures are all arguably more transparent than Binance’s. This makes it an appealing destination for those that prioritise the protection of their assets.Kraken does have a much lower number of cryptocurrencies for trading than Binance, and also slightly higher fees. That said, most popular coins are still available for purchase.

The platform also supports advanced features such as staking and margin trading. There is also a comprehensive mobile application that lets users buy and sell crypto on the go, much like Binance.

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Coinbase is one of the most popular crypto exchanges based on daily volume and is a highly reputable platform.Admittedly, Coinbase has a slimmer selection of cryptocurrencies compared to Binance, but most of the well-known coins are available. This includes Bitcoin, Ethereum, Cardano, Dogecoin and over 50 more.

Those looking for a simple, safe broker to buy and swap cryptocurrencies will like Coinbase’s insurance guarantee against loss and theft.

Coinbase only has a $2 minimum trade limit, although the variable fees are higher than Binance.

Users can also stake certain tokens via the Coinbase platform, although the actual transaction is processed by a third-party network.

Ultimately, Coinbase lacks a large number of the features that Binance does, especially when it comes to trading options. However, many people use Binance not for its advanced functions, but for its well-recognised safety profile, simplicity and brand recognition.

Furthermore, those that desire the advanced trading features of Binance can use Coinbase’s sister exchange – Coinbase Pro. This platform comes with the ability to place stop and limit orders, as well as crypto-to-crypto trading pairs.

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