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7 Best Binance Alternatives in 2024

11 mins
Updated by Maria Petrova
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In the early days of crypto exchanges, there was very little game in town. During this time, Binance emerged and came out on top, offering many services as an all in one exchange. Fast forward to today and there are an array of exchanges that offer just as many or improve on some services.

This article provides a comprehensive analysis of the best Binance alternatives for 2024. Here are the key features and attributes of each top crypto exchange to help you to make an informed decision before choosing an exchange.

Why look for Binance alternatives?

Why look for Binance alternatives?

Binance was founded in 2017 by Changpeng Zhao (often shortened to CZ). is the most popular centralized crypto exchange. But there are various reasons that someone may look for alternatives to Binance. These include:

  • Security concerns: Some users often ask is Binance safe? It is common for users to be concerned about the safety and security of their funds on centralized exchanges.
  • Geographical restrictions: Binance may not be available in certain countries due to regulations or legal restrictions. For instance, there is a separate version for the U.S. called Binance US, which features much fewer trading pairs than the main platform.  As a result, the number of Binance allowed countries are diminishing, whereas Binance competitors available in other countries are increasing.
  • Fees: Binance charges fees for trading and other activities on the platform, and some users may be looking for alternatives with lower fees.
  • Features. Binance may not offer certain features or services that some users want, so they may be keen to explore alternative exchanges which offer these. Additionally, Binance competitors may offer some services at better rates.
  • Diversification. Some users may want to diversify their holdings and not have all their assets on one exchange. As the saying goes — “Don’t put all your eggs in one basket.”

Binance has faced many hurdles in recent years, (e.g., Changepeng Zhao’s imprisonment in the U.S., shrinking list of Binance allowed countries, etc.). As a result, many people are asking whether Binance is safe from government regulation while simultaneously seeking out Binance alternatives.

Best Binance alternatives

1. Coinbase – Best for beginners

Website: www.coinbase.com

Coinbase is the best Binance alternative if you are a beginner in the crypto space. This is due to its user-friendly interface, comprehensive educational resources, and strong security measures,

As one of the largest and most recognized crypto exchanges in the United States, Coinbase is well-known in the crypto world. The platform provides a smooth onboarding process for new investors with an easy-to-navigate interface.

Coinbase also offers a wealth of learning materials through the Coinbase Earn program, which teaches users how to trade specific cryptocurrencies and rewards them with free crypto.

Regarding security, Coinbase uses two-factor authentication on all its platforms. The platform stores 98% of customers’ crypto offline. Also, Coinbase has an insurance policy covering custodial accounts up to $250,000, in line with per-depositor FDIC coverage limits.

Despite its high fees, Coinbase offers value for money with a user-friendly interface, comprehensive educational resources, and robust security measures.

Features: 

  • Multiple payment methods (Wire transfer, ACH, Debit card, PayPal)
  • Ease of use with an intuitive and user-friendly interface
  • Many educational resources
  • A diverse range of supported cryptocurrencies

Fees:

  • 0.4% (maker) and 0.6% (taker ) fees on Coinbase Exchange
  • 3.99% for credit/debit purchases
  • 1% fee to convert and withdraw your crypto to cash

Sign up on Coinbase using THIS LINK. You get $10 for each new account (and referral). The bonus might be slightly different depending on your location.

2. Kraken – Best for security

Website: www.kraken.com

Kraken is a U.S.-based cryptocurrency exchange created by Jesse Powell. It is one of the best alternatives to Binance because it complies with all U.S. laws and regulations, and was one of the first exchanges to publish a proof of reserves, ensuring a level of security and transparency.

It operates similarly to a stock exchange and allows market participants to trade various cryptocurrencies. Buyers and sellers can use multiple fiat currencies to trade their desired cryptocurrencies, including popular ones such as Ethereum (ETH) and Bitcoin (XBT), as well as lesser-known options like EOS (EOS) and Monero (XMR).

With a fast verification process and low fees, Kraken offers support for around 221 coins and assets, including several fiat currencies. 

However, its complex platform and slow response times mean the platform may better suit experienced users rather than beginners.

Features: 

  • 5x leveraged margin trading available, up to 50x on futures
  • Fully compliant with U. S. and European laws and regulations
  • 221 supported cryptocurrencies and assets
  • Staking service available for passive income
  • Many fiat-to-crypto trading pairs available
  •  70+ multi-collateral futures contracts

Fees:

  • $5 transaction fee for wire transfers, free for SWIFT deposits
  • 0.25% maker fee and 0.4% taker fee (for trades under $50,000)

3. OKX – Best for staking

Website: www.okx.com

OKX provides DeFi services that allow users to stake their cryptocurrencies and borrow using crypto as collateral. And it offers high-yield staking opportunities and the potential to earn at least 1% with many different coins.

Additionally, crypto investors who own the OKB token benefit from lower trade commissions.

Features: 

  • High Staking APYs: Staking certain cryptocurrencies on OKX can offer an annual interest rate higher than 100%.
  • Quick and effortless purchasing of cryptocurrencies using credit/debit cards, bank transfers, Apple Pay, Google Pay, and other supported methods.
  • Allows a wide array of fiat currencies for depositing
  • 356 supported cryptocurrencies and assets
  • Educational resources
  • Hundreds of trading pairs
  • Fast tech support via online chat
  • Intuitive and user-friendly dashboard 

Fees:

  • Trading fees as low as 0.10% can be availed with increased trade volume or by having a larger stake in the OKX token (OKB). 

Sign up on OKX using THIS LINK. You will get a Mystery Box with a guaranteed bonus up to $10,000 for each new account (and referral).

4. Bybit – Best for futures trading 

Website: www.bybit.com

Bybit is a leading derivatives exchange established in 2018 that serves over 2 million users. The exchange is a great Binance alternative because it offers perpetual and futures contracts with margins up to 100x, compared to maximum leverage of 50x on Binance.

It has staking options, an NFT marketplace, crypto loans, copy trading, and a rewards hub. The platform has a VIP program and a BitDAO Incentive Program, and it has recently introduced 0% fees on spot trading.

Beginner traders can start with a demo account to gain experience with derivatives trading. 

The Bybit platform also has an interactive mobile app for Android and iOS devices. Bybit prioritizes security with features such as 2-factor authentication, SSL communication, and advanced index pricing mechanisms. 

However, the exchange is not available in several locations. These include the United States, Canada, Singapore, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan, and Mainland China.

Features: 

  • Offers a wide range of trading options, including derivatives and spot trading 
  • High-security measures include SSL encryption, two-factor authentication, and an advanced index pricing mechanism. 
  • 344 supported cryptocurrencies and assets
  • Reliable customer service is available 24/7 in 11 different languages, including English, Mandarin, Japanese, Spanish, Turkish, and Vietnamese
  • It has an NFT marketplace where users can buy and sell NFTs without paying gas fees.
  • Further, Bybit offers a P2P marketplace for trading USDT, USDC, ETH, and BTC at pre-negotiated prices
  • Offers the BitDAO Incentive Program, VIP program, Launchpad, and Launchpool
  • Extensive educational resources covering various topics related to DeFi, crypto, blockchain, specific tokens, and NFTs

Fees:

  • 0.02% maker fee and 0.055% taker fee for futures trades
  • 0.10% for spot trading
  • Withdrawal fees, depending on the currency you withdraw.

5. StormGain – Best trading fees

Website: www.stormgain.com

StormGain offers a user-friendly platform for trading cryptocurrencies and digital assets. It supports many popular cryptocurrencies, including Bitcoin, Ethereum, and Ripple. StormGain also provides an option to earn interest on crypto assets through a crypto wallet

The platform offers high leverage of up to 200x. This is significantly more than other crypto exchanges, making Stormgain a great Binance alternative.

StormGain provides a demo account to help new users become familiar with the platform and practice trading before investing in real funds. 

StormGain implements advanced security measures, such as SSL encryption and two-factor authentication, to protect users’ funds and personal information. The platform also offers a mobile app for Android and iOS devices, making it easy to trade.

Additionally, StormGain offers a copy trading feature, where clients can copy top-performing traders’ trades and participate in a loyalty program to earn rewards. The platform is also regulated by the Financial Conduct Authority (FCA) in the UK.

Features: 

  • Trading charts can be customized using nine different time-frames
  • Built-in buy/sell recommendations with integrated crypto trading signals
  • Offers access to over 40 technical indicators
  • Provides improved trading conditions based on the trading volumes of each individual trader
  • Lower commissions and bonuses for high-volume traders
  • Traders have 24/7 control of their funds 24/7 through the app. Provides a free, integrated multi-currency wallet for purchasing and storing crypto coins.

Fees:

  • No trading commissions, but the platform takes a 10% fee on profitable trades. 
  • Commissions on services range from 0.095% to 0.25%

6. MEXC – Best for altcoin trading

Website: www.mexc.com

MEXC follows our list of Binance alternatives which offer a wide range of altcoins. It supports more than 1,480 cryptocurrencies that can be traded on its spot and derivatives markets, compared to Binance’s 500 cryptocurrencies. This vast support for altcoins makes MEXC a great alternative to Binance.

MEXC has more markets than Binance when it comes to trading. You can spot trade at live prices or borrow funds to trade margin. The future platform will offer perpetual contracts in USDT and leveraged crypto EFTs. 

MEXC’s Copy Trading program is an additional feature that isn’t currently available on Binance. Also, the trading spot markets are free of fees. MEXC’s futures trading uses a similar pricing structure to Binance, which is based on a make-and-taker model. MEXC offers a viable alternative to traditional trading platforms and has distinct features that may appeal to traders.

Features: 

  • Over 1,400 cryptocurrencies available 
  • Apps available for Android, iOS, and Windows users
  • Offers copy trading 
  • Trade with up to 200x leverage
  • Premium customer services via help center with multi-lingual support
  • Staking available for several cryptocurrencies, and several earn programs are available (for extra earnings)

Fees:

  • 0.10% on spot markets 
  • 0.01% taker fee and 0.00% maker fee on derivatives markets

Use THIS LINK to sign up for an account on MEXC and receive a $30 bonus in USDT and 10% off trading fees. Also, earn up to $40 for depositing more than $2,000.

7. eToro – Best for copy trading

Website: www.etoro.com

eToro was founded in Israel in 2007, and it began as a forex trading platform but quickly expanded its product offerings. Over the years, eToro expanded to include stock trading, ETFs, automated portfolios, cryptocurrency. This diverse asset support makes eToro a great Binance alternative for those who deal in crypto and equities.

With 20 million users globally, eToro has made a name for itself as an innovative trading platform. Further, eToro is one of the best Binance alternatives if you trade traditional instruments. 

One of the platform’s standout offerings is its social investing tool, CopyTrader, which allows users to copy the trades of successful investors.

In January 2022, eToro launched its services in the U.S., but some states are not yet supported.  eToro USA LLC does not offer CFDs, real Crypto assets available. New eToro users can open a demo account to get familiarized with the platform’s features. EToro is limited in digital currencies, offering only 21 cryptocurrencies and digital assets.

Features: 

  • Social copy trading and crypto trading capabilities
  • User-friendly web platform and mobile app
  • 21 supported cryptocurrencies, and assets
  • Offers both cryptos and traditional financial instruments
  • Offers indemnity insurance of up to €1 million per client in the EU, the U.K., and Australia.
  • Regulated by CySEC, FCA, and ASIC with multiple payment methods
  • eToro Money (cash management service for total financial control)

Fees:

  • 1% fee for crypto trading
  • eToro charges a fixed withdrawal fee of $5 USD.
  • Transfer fees when you transfer crypto off of the platform (including eToro Money crypto wallet)
  • $10 monthly inactivity fee after more than a year

Disclaimer

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. BeInNews Academy is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

If you are a resident of the 48 states that support eToro (check here), use THIS LINK to sign up and receive $10 as a welcome bonus.

Only for U.S. users

Binance alternatives compared

ExchangeBest featureSupported cryptosMaker/taker feesPayment methods
Coinbase (exchange)Best for beginners2600.4%/0.6%Wire transfer, ACH, card, PayPal
Kraken Security2210.25%/0.4%Card, Apple or Google Pay, bank
OKXStaking3560.8%/0.1%100+ (third-party)
BybitFutures trading3440.1%Card, Apple or Google Pay, crypto
StormgainTrading fees100.095%-0.25%Crypto
MEXCAltcoin trading1,4000%/0.1%Card, bank, third-party
eToroCopy trading761%Card, bank, Paypal

PayPal is not available for FCA/ UK users

Spread your risk

As we all know, the cryptocurrency market is often turbulent. Regulatory difficulties, access to dollars, changes in business structures, and multiple other factors can often affect our cryptocurrency activities.

Therefore, it is important to spread your risk and seek out some Binance alternatives. If not for regulatory stumbling blocks, then you could also utilize some other exchanges for more favorable fees, products and features.

Frequently asked questions

What is the best alternative to Binance?

Is Coinbase better than Binance?

Is Kraken better than Binance?

What is cheaper than Binance?

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Iulia Vasile
Iulia Vasile is a seasoned professional in the cryptocurrency and blockchain industry, working full-time in the field since 2017. With a background in computer engineering, she has the unique ability to write about complicated topics, including DeFi, NFTs, trading, and AI, in a way that is easy to understand. Iulia learned multiple programming languages while completing her Software Engineering degree in Bucharest at Politehnica University. Iulia brings her expertise and personal...
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