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7 Best Binance Alternatives in 2023

9 mins
Updated by Maria Petrova
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Binance, the leading crypto exchange in trading volumes, is a popular choice for investors seeking a platform to trade multiple cryptocurrencies. However, Binance isn’t the only exchange in town! This article provides a comprehensive analysis of the best Binance alternatives for 2023. Here are the key features and attributes of each top crypto exchange to help you to make an informed decision before choosing an exchange.

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Why look for Binance alternatives?

Why look for Binance alternatives?

Binance 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 may 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. 
  • 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.
  • 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.”

Best Binance alternatives

1. Kraken – Best for security


Kraken, a U.S.-based cryptocurrency exchange, complies with all U.S. laws and regulations, ensuring 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.


  • 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


  • $5 transaction fee for wire transfers, free for SWIFT deposits
  • 0.16% maker fee and 0.28% taker fee (for trades under $50,000)

2. OKX – Best for staking


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.


  • 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 


  • 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).

3. Bybit – Best for futures trading 


Bybit is a leading derivatives exchange established in 2018 that serves over 2 million users. 

The exchange 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.


  • 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


  • 0.025% maker fee and 0.075% taker fee for futures trades
  • 0.10% for spot trading
  • Withdrawal fees, depending on the currency you withdraw.

4. Coinbase – Best for beginners


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.


  • 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


  • 1.49% transaction fees 
  • 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.

5. StormGain – Best trading fees


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.


  • 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.


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

Use THIS LINK to sign up for an account on StormGain and receive a $25 bonus after depositing $100 to your account.

6. MEXC – Best for altcoin trading


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.

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.


  • Over 1,400 cryptocurrencies available 
  • Apps available for Android, iOS, and Windows users
  • Offers copy trading 
  • Trade with up to 125x 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)


  • 0.10% on spot markets 
  • 0.03% 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


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.

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 76 cryptocurrencies and digital assets, but the list is actively expanding.


  • Social copy trading and crypto trading capabilities
  • User-friendly web platform and mobile app
  • 76 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)


  • 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

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

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

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...