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Are you looking to enter the world of crypto trading? Then, the first thing you need to do is find a reliable crypto exchange where you can trade your digital currencies. You have likely already heard of Binance – the largest cryptocurrency exchange in the world.
If you tried it and decided it’s not for you, then why not take a look at other platforms that can do an equal (if not better) job at helping you enter the crypto space? In just a few minutes, we’ll introduce you to four incredible options that both beginner and advanced traders can use!
Binance at a Glance
Before we show you our roundup of the best Binance alternatives, let’s take a quick look at this crypto exchange and its most prominent features:
- It is one of the biggest cryptocurrency exchanges with extremely high trading volumes.
- You may trade Bitcoin and a plethora of other cryptocurrencies (over 350).
- It offers a large variety of tools, including grid trading, multi-symbol trading, and charting.
- Trading fees are quite small – standard fees are typically 0.1%, but withdrawal fees tend to be more dynamic.
Well, it’s no wonder that Binance is so popular. It caters to traders with a large variety of digital assets, offers expert trading tools, and its trading fees are minuscule. Don’t worry. All the exchanges we’ll present here will tick the same boxes. Of course, while all these are certainly important, there are additional factors that make a crypto exchange desirable in the eyes of crypto traders.
What Makes a Good Crypto Exchange
As we already know, Binance is a leading cryptocurrency exchange, so if we were to find websites that match or surpass it, we must ensure they are full-featured. What does that mean exactly?
There are four key factors that make a crypto exchange stand out. These are stable security, great customer support, and a diverse selection of assets with affordable prices. We rolled up our sleeves to find you four alternatives that will make acquiring digital funds a piece of cake. Here is what each of these features brings to the table:
Security Measures
Surprisingly, there are tons of innovations in the security sector. Artificial intelligence is becoming increasingly adopted, and many exchanges are now using it to monitor potential security gaps. Gone are the days when two-factor authentication was enough. While essential, it’s also important to take a look at what other safety features you can find at your preferred exchange. Don’t forget to enable them and give your account maximum security.
Do they offer a master key that protects your account should someone breach it? Can you use a cold wallet, or are you stuck with the exchange’s hot wallet and no other alternatives? If you can’t use your own hardware wallet, the safest method of safekeeping your holdings, then why bother with the exchange at all?
Exchange Fees
While signing up and using crypto exchanges is typically free, users should keep in mind the fees they will be charged. It’s normal for sites to add deposit and withdrawal charges. Remember that these apply every time you make transactions, so they might quickly pile up if you do several in a single day. There is also the crypto exchange commission you should keep in mind. Some sites charge additional fees for account upkeep, too.
Additionally, be careful not to get scammed. It’s normal to experience trading costs in the range of 0.1%-0.5%, but anything above that will be a rip-off. Make sure you familiarise yourself with the fee structure before you join any platform.
Variety of Assets
Are you looking to trade something specific? In that case, you are probably after an exchange with a great selection of crypto assets. If we were talking numbers, the exchange should have at least 300 virtual assets for its users. Some of you likely want to invest in ICOs, and if there isn’t a good selection of assets, there’s likely a lack of emerging new coins, too. That’s why variety is so important.
Customer Support
Perhaps the most neglected quality of any website, customer support, can make or break a crypto exchange. Not only should support staff be available preferably 24/7, but they should be reactive and friendly to customers. No one likes being treated poorly or having to wait around to get their issue solved!
The Best Crypto Exchanges in the UK
We’ll be looking at some centralised exchanges and a few interesting alternative options for those who simply don’t enjoy the exchange experience. Let’s jump straight to it:
Coinbase – Best Cryptocurrency Exchange With High Security
Are you one to prioritise security? In that case, Coinbase is your safest option. While it offers all the basics, including identity verification and two-factor, it goes a step further by offering tailored safety features like the Coinbase Vault. This special add-on will cryptographically secure your assets and keep them safely tucked away from the prying eyes of hackers.
Additionally, nothing can enter or leave the vault without your approval, which requires a special authentication separate from that of your account. Of course, there are plenty of other reasons to choose Coinbase. It’s an easy-to-use platform with an incredible number of active traders – over 43 million. If you choose Coinbase, you’ll be in safe hands.
BitStamp – Most Established Crypto Exchange in the UK
Many UK traders consider BitStamp to be one of the best crypto exchanges in the UK due to its spotless reputation and long history. It was founded back in 2011, making it one of the first exchanges on the market in the early days of Bitcoin. It offers its users cold storage solutions so they can experience maximum security.
Bitstamp does provide a good assortment of cryptocurrencies for trading, although perhaps not as many as some other exchanges. Popular choices include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). In addition, its security is also up to standard, complying with KYC processes and working against money laundering.
Furthermore, BitStamp has a reputation for having deep liquidity, which enables users to easily make significant trades without substantially impacting the market price of the cryptocurrencies they are trading.
Immediate Momentum – Crypto Exchange Alternative
Do you think that the typical crypto exchange is not the right choice for you? Don’t worry. Plenty of traders feel the same. While exchanges can undoubtedly help some investors, there isn’t a universal website that will magically suit every single person. But worry not – we might have the perfect solution for those who want to buy and sell digital currencies without an exchange. Have you considered a crypto broker?
If you feel like you need a little extra help, then why not give brokers a chance? They can not only facilitate some transactions for you but can also help you develop trading strategies that match your long-term or short-term trading goals. Additionally, as brokers keep a close eye on market trends and innovations, they also offer unique trading opportunities that would otherwise take you ages to find.
Did we mention customer support? If you want to benefit from all the above and enjoy 24/7 customer care, there’s no better website to help with that than https://immediate-momentum-app.com. This broker-matching platform uses advanced AI to create successful pairings between traders and brokers. It is guaranteed to save you time and enhance your trading skills!
Uniswap – Best Decentralised Cryptocurrency Exchange
Are you looking for a place for cryptocurrency trading that’s decentralised? One of the best cryptocurrency exchanges that allows Peer-to-Peer trading is Uniswap. Are you unfamiliar with DEXs? They utilise smart contracts to enable users to exchange person-to-person without the need for a third party. This means that you can swiftly buy crypto and skip the annoying trading fees that regular cryptocurrency exchanges impose.
As Uniswap is based on the Ethereum network, it allows anyone with an Ethereum wallet to facilitate an exchange. Uniswap offers users the option to swap a wide variety of tokens, including numerous ERC-20 tokens created on the Ethereum blockchain. Users can trade different cryptocurrencies with ease thanks to this diversity.
Final Thoughts
Finding the right platform for trading among the hundreds of crypto exchanges available online takes some trial and error. You might need to sign up for several sites before you find the one you like the most. But that’s okay – choosing the right site is a significant decision for any investor. We hope that among the alternatives to Binance that we listed here, at least one will cater to your individual needs. Whichever site you choose, remember to devote some time to researching.
