Bitcoin is a controversial cryptocurrency that is increasingly getting accepted across the world. The coin is in vogue and several top brands and industry leaders are now investing and promoting this decentralized currency. This is not coincidental. Coinbase is the most popular way to buy and trade in this currency since 2017 and is the ninth most downloaded app on the Apple Store in the USA.
The main reason for the popularity of this exchange is that it is the oldest in the industry and buying here is straightforward. But with the latest market craze, there is a shift in the popularity of Coinbase, especially amongst new users. Other exchanges offer lower fees for purchases. They work almost similar to Coinbase and serve as an alternative.
Alternatives to Coinbase:
Brokers that are based in the USA:
They are venue-specific options to buy and sell Bitcoin like ethereum-code.me. The fees are quite competitive or low as compared to Coinbase. They also have better uptime even when the market is highly volatile. They are brokers and not true exchanges where crypto trading can be performed.
Cash apps: this app by Square is the fastest and easiest way to buy BTC. Just link a bank account and then you would be on board in a few days. With a debit card, it is possible to buy bitcoin instantly. It is available for web and mobile also. One can buy up to $100K bitcoin in a week and withdraw $5K in a week.
This app supports automated recurring purchases and has its debit card that can give bitcoin cash backs. The fees vary from 1-3% based on the order size. There is no withdrawal fee.
River Financial: This is again exclusive for the USA and it is a new broker which deals only with Bitcoin. They have their full suite of services focused on just one coin. It allows for services like Lightning Network withdrawals and deposits. This means that the buy or withdraw can be done at almost zero network costs from River Financial.
It is possible to integrate this app with hardware wallets to track bitcoins that are stored in cold wallets. Auto recurring purchases are also permitted. It is meant for larger purchases and the minimum purchase value is $100. One needs to have a US bank account for using this app.
Swan Bitcoin: This is different from the traditional bitcoin available on-ramp. This service also caters to BTC only and has become popular because it allows auto buys that are as low as 10 dollars. A wallet can also be chosen for auto withdrawals. It is made for bitcoiners that want to set a weekly or daily average buy and it offers some of the lowest fees for spot purchases in the US. An annual savings plan is also available for users that can reduce the purchase fees. There are no fees for withdrawal and one can add a bank account for transactions.
International exchanges for BTC:
Here are some exchanges that provide service to international clientele too. These exchanges have a mobile app associated with them to make it easier to manage the account on the go. They also offer deposits in fiat currency through credit/debit cards or bank transfers. They also have the facility of Lightning Network of BTC to reduce high on-chain fees during withdrawals to self custody.
These exchanges have trading fees of around 0.1 to 0.5 percent per trade. They are not specific to any coins and so it might not be so simple for newcomers.
Bitfinex: this is the oldest international exchange in the industry and supports trading in euros, USD, Japanese Yen, British pounds, Yuan, and other stable coins. It allows transactions using Liquid Sidechain of Blockstream and Lightning Network. Withdrawal fees are static at 0.0004 BTC.
Kraken: it is one of the oldest US-based platforms and it offers spot trading for altcoins and BTC and leveraged trading too. The deposit can be done using stable coins and currencies like EUR, USD, AUD, CHF, JPY, GBP, CAD. Withdrawal fees are 0.00015 BTC.
OK Coin: this international exchange allows deposits using EUR, USD, SGD, and major stable coins. The withdrawal fees, in this case, are 0.0004 BTC.
So if you are looking for alternatives to the Coinbase platform, then these are a few to consider.