Last Updated on 29.11.2022 by Administrator
Suppose you have problems using the Binance exchange. In that case, you will look for a worthy alternative for trading cryptocurrency. So in this review, we will take a closer look at what Binance alternatives there are on the market, their similarities and differences, and which crypto exchanges are better to use than Binance.
Binance is considered the world’s largest crypto exchange for many reasons. Just what its trading volume is worth! However, you can find many other high-quality cryptocurrency exchanges are not inferior in terms of Binance’s capabilities. Here is the list of best alternatives to Binance exchange with their main differences.
What are alternatives to Binance
KuCoin Crypto Exchange
KuCoin. Based in Hong Kong, this cryptocurrency exchange is in demand among many traders all around the world.
Why KuCoin is a good Binance alternative? This exchange platform has the same features as spot, margin, futures, and P2P trading; different ways of earning cryptocurrency (landing, staking, mining pools, launchpad); trading bots; the option to lend cryptocurrencies at a high-interest rate.
Commission fees: from 0.1% (for Maker and Taker).
Official web-site: https://www.kucoin.com
ByBit is one of the largest crypto-exchanges that originated in Singapore which continues to grow actively.
Is ByBit an alternative to Binance? ByBit exchange platform has better and more functioning crypto futures trading alongside spot trading, margin trading, P2P, and internal NFT marketplace. There are many opportunities to accumulate cryptocurrency (launchpads, pool, staking, landing, mining, etc.) on the exchange. You even get a chance to test trading on the demo account.
Commission fees: 0.1%.
Official website: https://www.bybit.com
Gate.io is one of the first cryptocurrency exchanges and is currently at the top of many rankings for the quality of service and its security, with over 1,000 cryptocurrencies available for trading on the exchange. Pretty good alternative for Binance.
Gate.io vs Binance: every prime feature for traders is available (trading: spot, margin, crypto futures, P2P exchange, NFT trading); there is an option to have passive income on cryptocurrency; copy trading is available.
Commission fees: from 0.2% (for Maker and Taker).
Official website: https://www.gate.io
Huobi, a Singapore-based cryptocurrency trading platform, is a popular alternative to Binance.
Here are some features on the Huobi exchange that make it a suitable alternative for Binance: spot, futures, margin, OTC, and P2P trading options; trading bots; cryptocurrency loans, and passive income on crypto assets (staking, mining, etc.).
Commission fees: from 0.2%.
Official website: https://www.huobi.com
EXMO Cryptocurrency exchange is the largest cryptocurrency exchange in Eastern Europe, which is gaining recognition worldwide, with offices in 6 countries: UK, Ukraine, Poland, Lithuania, USA, and Cyprus.
Here are some features that can lure you into trading on EXMO: The EXMO Mobile App and the official website are simpler and more convenient to use. It is convenient to buy cryptocurrency from a bank card and through electronic payment systems. There is even cashback for trading commissions (loyalty program).
Commission fees: from 0.1%.
Official website: https://exmo.me
FTX is a popular cryptocurrency exchange for trading derivatives (crypto futures).
Here is why we see the FTX exchange as a Binance alternative. It is a convenient platform to trade futures; there is no mandatory account verification; you have an option to earn from crypto loans alongside profitable staking and low trading commissions.
Commission fees: from 0.02%.
What alternative to Binance should you choose?
After looking in detail at top alternatives for Binance, you can opt for the following crypto exchanges:
- For spot trading: Kucoin, ByBit, Gate, EXMO, Huobi.
- For margin trading: Kucoin, Huobi, Gate, ByBit.
- For futures trading: FTX, ByBit, Kucoin, Gate, Huobi.
- For P2P trading: Bybit, Kucoin, Huobi, Gate.
- For NFT trading: ByBit.
Check out our post with the latest and most profitable referral codes for new traders for the top cryptocurrency exchanges.
You can decide on your own what crypto exchange to use instead of Binance based on your needs and the exchange functions you need. Besides, you can simultaneously use several cryptocurrency exchanges to distribute your cryptocurrency as profitably as possible and not keep it on one crypto exchange.
Leave your advice and feedback on which crypto exchange is better to use instead of Binance (or simultaneously with it) in the comments to the review.