6 Better Crypto Exchange Alternatives to Coinbase

 

Coinbase has developed a good status as one of the giant digital currency exchanges in the world. The platform only offers four cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin. However, there are other exchanges (which offer more currencies and better series) that are not yet in the limelight.

 Localbitcoins

The exchange links Bitcoin (BTC), buyers and sellers. It is like a Craigslist for BTC. The site has a variety of payment options, for instance, PayPal and face-to-face payment method.

For the general welfare of buyers, Localbitcoins contains a reputation and feedback system to impart trust between traders. Additionally, the site can solve disputes just like an escrow service.

The site imposes a 1% transaction charge on every successful transaction. Sending money to another Localbitcoins wallet is free of charge. The overall usability of the site is quite easy and spontaneous.

CEX

CEX is a UK crypto exchange company with a good credibility. The platform enables the buying of Bitcoins with a VISA or Mastercard and they accept digital currencies, bank transfers, and credit cards.

CEX offer eight cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, DASH, Bitcoin Gold, Litecoin, Ripple, Stellar Lumens, and ZCash. In addition, they back four local currencies: USD, GBP, Russian Rubles and Euro when a customer purchases with fiat currency.

They have the best coverage of 99% of the sphere’s digital currency nations. They also impose small transaction charges, 3.5% per card deposit. Bank transfers and cryptocurrency deposits are free of charge in CEX.

Changelly

This platform support almost 100 currencies. It has automated procedures, which regulate the largest exchanges.

Its transaction fee is 0.5% and has an instant conversion rate as the only method of cryptocurrency exchange. Its user interface has been described as straightforward and can be used even by beginners.

Bitit

This is a France based cryptocurrency exchange that enables traders and investors to purchase digital currencies using their local currency. The platform provides 14 local currencies, not forgetting the Chinese Yuan Renminbi and the Japanese Yen.

Funds can be deposited using credit cards, cash, e-wallet or direct wire transfer. However, the site does not offer crypto-to-crypto exchange pairs.

Coinmama

This is an Israel based crypto exchange with a reliable team of workers. It also supports only two digital currencies: BTC and ETH. Nevertheless, the company is on the verge of introducing more cryptocurrencies soon.

A debit card is the sole payment method. They accept all fiat currencies, although the pricing is done in USD and in EUR.

This platform is quite easy to use as it offers spot rates on purchasing digital currencies eliminating the need of an extended trading site.

CoinCorner

This is a UK based company although its head office is in the Isle of Man. The site enables its customers to purchase BTC with their credit cards and through bank transfers.

CoinCorner only provides BTC trading and has developed its Android and IOS wallet applications. It enforces cost-effective transaction charges of 1-2.5% per transaction.

Conclusion

Unluckily, the conversion charges on exchanges that use credit payments are a bit expensive due to the inclusion of a third-party payment processor.  If a way can be created to avoid these third-party payment processors, it will be cheaper to deposit digital currencies compared to local currencies.

The second alternative is to use bank transfers since the charges are also cost-effective.

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John Makori is a cryptocurrency writer with background in IT and journalism. He has lived in different countries, and settled in Canada. He has more than 4 years of experience working as a journalist with interest in Bitcoin and Cryptocurrencies. He’s passionate about learning Blockchain technologies’ potential to reshape all aspects of our lives. He joined TheOofy as a writer.