Finding a Good Coinbase Alternative
Coinbase Alternative – Coinbase is a globally popular US-based digital currency exchange. It is thus a central point of contact for buying and selling almost every type of digital currency. For this reason, the Coinbase website is one of the fundamental reference sources for every newcomer to the world of cryptocurrencies.
However, more users are looking for a Coinbase alternative so that they can counteract current developments. The reason for the search for an alternative to Coinbase is not that this digital currency exchange presently serves only 32 countries.
The problem lies in the fact that Coinbase has recently started to behave like a bank. As a result, this digital exchange is actually undermining the shared principles that drive the concept of cryptocurrencies. Finally, the arbitrary actions that were taken by the owners of Bitcoin (and others) mean that Coinbase is best avoided.
What Exactly Has Changed?
For some time, Coinbase has been acting like a traditional financial services company. It started with the requirement of disclosure of comprehensive personal information when registering for a user account. This was then followed by direct monitoring.
Among other things, this led to an irrevocable closure of some accounts. This particularly affected accounts focused on gambling, gaming or the resale of different currencies. Additionally, there was a massive increase in fees.
Many users are therefore now seeking a viable alternative to Coinbase.
Here are some alternative options:
CEX (https://cex.io/) supports transfers via EUR, USD, GPB and RUB currencies. In addition, there is a mobile app offering two-stage authentication that provides a high level of security. Customer support is available around the clock, and this exchange serves 99% of all countries. Above all, this platform supports the purchase and sale of Bitcoin and Ethereum. CEX has earned a lot of respect in cryptocurrency circles. Transaction fees are very low and are used to finance the survival of the platform.
LBC (https://localbitcoins.com/) offers its users real-time transactions. This Coinbase alternative comes from Finland and has been operating since 2012. It mainly supports Bitcoin and its fees are set by the buyers and sellers themselves. LBC thus operates as a kind of mediation platform. Here, a seller’s reputation increases with trustworthiness. Registration only requires an email address and payment is made either by bank transfer or via PayPal.
BitBay (https://bitbay.net/en) is a foreign language Coinbase alternative where you can choose Polish or English language options. This is a security-oriented exchange, which also offers two-stage authentication, ensuring a high level of security.
Gemini (https://gemini.com/) has significantly lower fees than Coinbase and handles both private and business customers in the same ecosystem. The company is based in New York.
bisq (https://bisq.network/) is another Coinbase alternative. This platform regards the privacy and anonymity of its registered users as its top priority. Once again, the transaction fees are very low.
BitStamp (https://www.bitstamp.net/) originates from London and is primarily oriented towards trading in the European market. In addition to its low fees, this exchange has earned a good reputation in terms of security. Private individuals who want to trade in Bitcoin will find themselves in good hands here.
Bitpanda (https://www.bitpanda.com/) describes itself as “Europe's most popular service” when it comes to buying and selling Bitcoin and Ethereum. Various payment options are available and its simple operation is extremely user-friendly, which makes this exchange a good Coinbase alternative.
Deciding on the Right Coinbase Alternative
Finding a suitable Coinbase alternative will always depend on what services you require from a digital currency exchange. Perhaps there is a language limitation with your current exchange? Maybe it is more important to have a wallet you can always access via a mobile app.
In any event, it's worth taking a look at the alternatives offered here. Above all else, they will allow you to continue to function whilst enjoying a certain degree of independence.