Best Coinbase Alternatives in the UK for 2024

Authored by:
Thomas Drury
Thomas Drury

Thomas Drury

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Seasoned finance professional with 10+ years' experience. Chartered status holder. Proficient in CFDs, ISAs, and crypto investing. Passionate about helping others achieve financial goals.

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Reviewed by:
Dom Farnell
Dom Farnell

Dom Farnell

Co-Founder

Dom is a Co-Founder and of TIC. A passionate investor and seasoned blog writer with a keen interest in financial markets and wealth management.My goal is to empower individuals to make informed investment decisions through informative and engaging content.

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Last Updated 15/01/2024
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Please keep in mind that Crypto assets are volatile and currently unregulated. This volatility presents risk to your investment, and you may lose your funds. Profits from Cryptocurrency sales may be subject to Capital gains tax under UK law.

Quick Answer: Which are the Best Alternatives to Coinbase in 2024?

  1. OKX – Rated 4.35 stars – Best Overall Alternative
  2. Kraken – Rated 4.3 Stars – Best for Security
  3. MEXC – Rated 4.2 Stars – Best for Traders
  4. CoinJar – Rated 3.5 stars – Easiest to Use
  5. Etoro – Rated 3 stars – Best for a Range of Other Investing Features
depicting a variety of best Coinbase alternatives, emphasizing the diversity and richness of the cryptocurrency exchange landscape. It features different platforms, indicating a broad spectrum of options for users, highlighted by symbols of security and digital currencies.

Coinbase Alternative Comparison Table

Coinbase
OKX
Kraken
Coinjar Logo
Coinjar
Etoro Logo
Etoro
Cryptocurrencies Available
4.3/5
4.7/5
4.7/5
4.2/5
4/5
User Experience
4.5/5
4.1/5
4.3/5
4/5
3.8/5
Fees
3.5/5
4.4/5
4.2/5
4.1/5
3.7/5
Mobile App
4.4/5
4.5/5
4.4/5
4/5
3.9/5
Community
3.9/5
4.2/5
4.1/5
3.9/5
3.8/5
Staking
4.0/5
4.4/5
4.2/5
3.8/5
3.9/5
Transparency
4.2/5
4.3/5
4.5/5
4/5
3.7/5
Advanced Trading Tools
4.1/5
4.6/5
4.4/5
4.1/5
3.8/5
UK Accessibility
3.9/5
3.5/5
4.3/5
3.8/5
3.6/5
Overall Review Score
4.1/5
4.35/5
4.3/5
3.9/5
3.7/5

The Best Alternatives to Coinbase Reviewed

In the ever-evolving world of cryptocurrency trading, Coinbase has long stood as a beacon for both newcomers and seasoned traders alike. Yet, as the landscape shifts and diversifies, a plethora of alternatives have emerged, challenging its dominance. In this review, we delve deep into the world of cryptocurrency exchanges, exploring the best alternatives to Coinbase that promise not just competitive features but also a new horizon in crypto trading. Whether you’re a first-time investor or a crypto enthusiast seeking new platforms, join us as we unveil the top contenders reshaping the digital currency exchange market.

4.4/5

TIC OKX Review Score 4.35/5

OKX - Best Overall Alternative

OKX Exchange, established in 2017 and headquartered in Seychelles, is a dynamic player in the global cryptocurrency market, offering a wide array of trading options and advanced security measures.

Pros

Cons

Please keep in mind that Cryptocurrency assets are volatile and currently unregulated. This volatility presents risk to your investment, and you may lose your funds. Profits from Cryptocurrency sales may be subject to Capital gains tax under UK law.

OKX vs Coinbase Compared

As we navigate the intricate world of cryptocurrency exchanges, OKX emerges as a formidable rival to Coinbase. Known for its robust security measures and a diverse array of trading options, OKX offers a distinct experience for crypto traders.

  • User Experience: Coinbase is known for its user-friendly interface, ideal for beginners. OKX, on the other hand, offers advanced trading features like futures and margin trading, catering more to experienced traders.

  • Trading Options: OKX provides a wider variety of trading options and a larger selection of altcoins compared to Coinbase.

  • Fee Structure: OKX has a competitive fee model that is often more cost-effective for high-volume traders, while Coinbase tends to have higher fees, which might be offset by its simplicity and ease of use for newcomers.

  • Security Measures: Both OKX and Coinbase are recognized for robust security, but OKX stands out with additional security features for advanced users.

  • Global Reach: OKX supports numerous local currencies and payment methods, offering more flexibility for international traders, whereas Coinbase has more limited options in some regions.

  • Ideal User Base: Coinbase is a top choice for new investors due to its simplicity and educational resources. OKX is better suited for users seeking in-depth market engagement and a broader range of cryptocurrencies.

  • Regulatory Compliance: Coinbase is known for its strong regulatory compliance, making it a trustworthy option for cautious investors. OKX, while also compliant, focuses more on providing a diverse set of trading tools and options.

Where Coinbase is celebrated for its user-friendly interface and strong regulatory compliance, making it ideal for beginners, OKX steps in with advanced trading features like futures and margin trading, catering to the more experienced market. Unlike Coinbase, which primarily targets casual investors, OKX appeals to those seeking deeper market engagement and a wider variety of altcoins.

The fee structure of OKX is another aspect where it diverges from Coinbase. It adopts a competitive fee model, which often results in lower costs for high-volume traders compared to Coinbase’s relatively higher fees. However, for newcomers, the simplicity and trust associated with Coinbase might outweigh the benefits of lower fees.

In terms of global reach, both platforms have significant presence, but OKX offers a more flexible approach to international traders with its support for numerous local currencies and payment methods, a contrast to Coinbase’s more limited options in some regions.

Ultimately, choosing between OKX and Coinbase hinges on the user’s experience level and trading needs. While Coinbase remains a top choice for those who prioritize ease of use and educational resources, OKX stands out as a powerful alternative for those seeking advanced trading features and a more diverse crypto portfolio.

 

4.3/5

TIC Kraken Review Score 4.3./5

Kraken - Best for Security

Founded in 2011, Kraken.com is a leading cryptocurrency exchange known for its extensive cryptocurrency options, strong security, and user-friendly platform, catering to both new and experienced traders.

Pros

Cons

Please keep in mind that Cryptocurrency assets are volatile and currently unregulated. This volatility presents risk to your investment, and you may lose your funds. Profits from Cryptocurrency sales may be subject to Capital gains tax under UK law.

Kraken vs Coinbase Compared

Kraken, another prominent name in the world of cryptocurrency exchanges, offers a unique set of features that distinguish it from Coinbase. Let’s delve into some of these key aspects:

  • Lower Fees: Kraken is well-regarded for its competitive fee structure. Traders on Kraken often enjoy lower transaction and trading fees compared to those on Coinbase. This aspect makes Kraken particularly attractive to high-volume traders who can save a significant amount on transaction costs over time.

  • Proof of Reserves (PoR): Kraken stands out with its commitment to transparency through the Proof of Reserves audit system. This system ensures that the exchange publicly verifies it holds all of its clients’ funds, enhancing user trust and security. This feature is not commonly found in many other exchanges, including Coinbase.

  • Leverage Trading and Futures: Kraken caters to advanced traders with options for leverage trading and futures contracts. These features allow traders to potentially amplify their gains (while also increasing risk), a facility not as prominent on Coinbase, which is more geared towards straightforward spot trading.

  • Target Audience: While Coinbase is tailored for beginner to intermediate users with its easy-to-use platform, Kraken appeals to a more experienced audience that values detailed trading options and lower fees.

  • Security and Trust: Both platforms are highly secure, but Kraken’s Proof of Reserves adds an extra layer of transparency, potentially increasing trust among cautious investors.

  • Fees and Cost-Effectiveness: Kraken generally offers lower fees than Coinbase, making it a more cost-effective option for frequent traders.

  • Trading Options and Flexibility: Kraken provides more advanced trading options like margin trading and futures, which are less emphasized on Coinbase.

  • Global Accessibility: Similar to Coinbase, Kraken also has a significant global presence, but its advanced features may appeal more to users in regions with a higher concentration of experienced traders.

In summary, while Coinbase remains a top pick for those new to cryptocurrency and preferring a simple, user-friendly platform, Kraken distinguishes itself as a go-to exchange for traders seeking lower fees, advanced trading options, and a transparent operating model.

4.5/5

TIC MEXC Review Score 4.5/5

MEXC - Best Exchange for Traders

MEXC is a leading global cryptocurrency exchange known for its wide array of digital assets, including Kaspa, and its user-friendly trading platform. It stands out for its robust security measures, competitive fees, and a strong commitment to customer support, catering to both novice and experienced crypto traders.

Pros

Cons

Please keep in mind that Cryptocurrency assets are volatile and currently unregulated. This volatility presents risk to your investment, and you may lose your funds. Profits from Cryptocurrency sales may be subject to Capital gains tax under UK law.

MEXC vs Coinbase Compared

MEXC, a rising star in the cryptocurrency exchange world, brings its own set of unique features and advantages, particularly when compared to Coinbase. Let’s explore some of these aspects:

  • MEXC Instant Buy/Sell: MEXC offers an ‘Instant Buy/Sell’ feature, which enables users to quickly and easily trade cryptocurrencies at pre-set prices. This is especially useful for beginners or those looking to execute trades without the complexity of navigating market fluctuations. This feature mirrors the simplicity that Coinbase is known for, but MEXC often offers a wider range of cryptocurrencies available for instant trading.

  • User Interface and Ease of Use: Both MEXC and Coinbase are designed with user-friendliness in mind. However, Coinbase is often highlighted for its exceptionally intuitive interface, making it a preferred choice for those new to cryptocurrency trading.

  • Cryptocurrency Selection: MEXC stands out with its extensive selection of cryptocurrencies, offering a larger variety than Coinbase. This makes it an attractive platform for users looking to explore less mainstream or emerging cryptocurrencies.

  • Fee Structure: MEXC generally offers competitive fees, which can be more appealing to active traders compared to Coinbase’s fee structure that is often higher, especially for small-scale or infrequent traders.

  • Target Audience: While Coinbase caters to beginners and intermediate traders, MEXC is suitable for a wide range of users, from beginners to more experienced traders looking for a broader range of coins and advanced trading features.

  • Global Reach and Accessibility: Both platforms have a strong global presence. MEXC, with its diverse cryptocurrency offerings, may appeal more to users in regions where a wide variety of digital assets are in demand.

In summary, while Coinbase remains an excellent starting point for those new to the crypto world with its simplicity and educational resources, MEXC offers a compelling alternative with its wider range of cryptocurrencies, competitive fees, and features like ‘Instant Buy/Sell’ that cater to both beginners and seasoned traders.

3.9/5

TIC CoinJar Review Score 3.9/5

CoinJar - Easiest to Use

CoinJar is celebrated for its simplicity and ease of use, making it an excellent choice for those new to cryptocurrency trading. It offers a streamlined interface and a straightforward fee structure, catering well to casual investors and beginners.

Pros

Cons

Please keep in mind that Cryptocurrency assets are volatile and currently unregulated. This volatility presents risk to your investment, and you may lose your funds. Profits from Cryptocurrency sales may be subject to Capital gains tax under UK law.

Coinjar vs Coinbase Compared

“Coinjar, a lesser-known yet steadily growing player in the cryptocurrency exchange market, offers distinct features that set it apart from the giant, Coinbase. Let’s explore how Coinjar stacks up against Coinbase:

  • User Interface and Accessibility: Both Coinjar and Coinbase are known for their user-friendly interfaces, making them ideal for those new to cryptocurrency trading. However, Coinbase is often praised for its exceptionally intuitive and streamlined user experience, which has set a high standard in the industry.

  • Fee Structure: Coinjar offers a competitive fee structure, particularly attractive for users engaging in smaller transactions. While Coinbase also offers a straightforward fee policy, it is generally known for higher fees, especially for small-scale transactions.

  • Range of Services: Coinjar, while offering basic trading options and a wallet service, tends to have a more limited range of services compared to Coinbase, which provides a comprehensive suite of services including a more extensive trading platform, educational resources, and advanced security features.

  • Target Audience: Coinjar, with its straightforward approach and competitive fees, appeals to those who are new to crypto trading or engage in it on a smaller scale. Coinbase, on the other hand, caters to a wider audience, from beginners to more experienced traders, with its diverse set of tools and resources.

  • Cryptocurrency Selection: Coinbase offers a wider selection of cryptocurrencies compared to Coinjar, making it a preferred choice for users looking to trade in a diverse range of digital currencies.

  • Global Reach: Coinbase has a broader global reach and is more widely recognized, which can be a significant factor for users looking for a platform with a strong international presence. Coinjar, while reliable, is more regionally focused and may not have as much presence in certain markets.

In conclusion, while Coinbase stands as a robust, all-encompassing platform suitable for a diverse range of users, Coinjar presents itself as a viable option for those seeking a simpler interface and lower fees, especially beneficial for users making smaller transactions or those just beginning their journey into the world of cryptocurrency.”

3.7/5

TIC Etoro Review Score 3.7/5

Etoro - Best for a Range of Other Investing Features

eToro, in the context of cryptocurrency trading, is widely recognized for its social trading features, allowing users to follow and copy the trades of experienced investors. It also stands out for offering a diverse range of investment options beyond crypto, appealing to those interested in a broader portfolio.

Pros

Cons

Please keep in mind that Cryptocurrency assets are volatile and currently unregulated. This volatility presents risk to your investment, and you may lose your funds. Profits from Cryptocurrency sales may be subject to Capital gains tax under UK law.

Etoro vs Coinbase Compared

Etoro, another significant player in the cryptocurrency exchange and trading sphere, offers unique features that distinguish it from platforms like Coinbase. Let’s dive into some of these aspects:

  • Platform Features: While both Etoro and Coinbase offer a range of cryptocurrency trading options, Etoro is particularly known for its social trading features. This includes the ability to copy trades of successful investors, which is not offered by Coinbase.

  • User Experience: Both platforms are user-friendly, but Coinbase is often lauded for its straightforward and intuitive interface, making it exceptionally welcoming for beginners. Etoro, while also user-friendly, has a more diverse set of tools and features that cater to both beginners and experienced traders.

  • Fee Structure: Etoro’s fee structure is distinct, with a focus on spread charges rather than direct transaction fees, which can be more cost-effective in certain trading scenarios compared to Coinbase’s fee structure.

  • Crypto Staking: One of the significant differences is Etoro’s crypto staking feature, offering users an opportunity to earn rewards on their holdings. Coinbase also offers a form of staking, but Etoro’s program is more extensive, covering a broader range of cryptocurrencies.

  • Investment Options: Beyond crypto, Etoro provides access to a wide range of other financial instruments like stocks, commodities, and forex trading, making it a more versatile platform for comprehensive financial trading compared to Coinbase, which is primarily focused on cryptocurrency.

  • Global Reach: Both Etoro and Coinbase have a significant international presence, but Etoro’s unique social trading feature and a wider range of investment options might appeal more to users looking for a more diverse and interactive trading experience.

In summary, while Coinbase is an excellent platform for straightforward cryptocurrency trading and is particularly suited to beginners, Etoro stands out with its unique social trading features, comprehensive investment options, and the added benefit of crypto staking, catering to a broader spectrum of financial interests.

What is Crypto Staking?

  • Crypto Staking on Etoro: Etoro has embraced the concept of crypto staking, allowing users to earn rewards for holding certain cryptocurrencies. Staking involves participating in the network of a particular asset, helping to maintain its security and efficiency. Users who stake their coins on Etoro can earn regular rewards, similar to earning interest on a savings account.

 

Why Look for an Alternative to Coinbase?

Coinbase has established itself as one of the most popular cryptocurrency exchanges globally, known for its user-friendly interface and robust security. However, there are several reasons why users might seek alternatives:

High Trading Fees

One of the primary reasons to consider alternatives to Coinbase is its fee structure. Compared to other exchanges, Coinbase’s fees can be relatively high, especially for small-scale traders and those who engage in frequent transactions. This can significantly impact the overall profitability and cost-effectiveness of trading activities.

Limited Trading Tools for Advanced Traders

While Coinbase is excellent for beginners, it may not satisfy the needs of more experienced traders. Advanced traders often seek detailed analytical tools, more complex trading options like margin trading, and deeper market insights, which are limited on Coinbase. Other platforms offer these advanced features, making them more appealing to seasoned investors.

Crypto Selection and Mix Of Assets

Coinbase offers a wide variety of cryptocurrencies, but its selection can still be limited compared to other exchanges. Some traders look for platforms that provide access to a broader range of altcoins, newer tokens, or different types of digital assets. Diversifying one’s portfolio with a variety of cryptocurrencies and assets is crucial for many investors, and certain exchanges cater to this need better than Coinbase.

Ease of Use

While Coinbase is renowned for its ease of use, some users might prefer an interface that aligns more closely with their specific needs or preferences. Different platforms offer various user experiences, and what works best can vary greatly from one individual to another. Some traders might find other interfaces more intuitive or better suited to their trading style, even if they are less popular or widely used than Coinbase.

Conclusion

In summary, while Coinbase has been a dominant force in the cryptocurrency exchange market, it’s clear that there are several compelling reasons to consider alternatives. Whether it’s due to the desire for lower trading fees, the need for more advanced trading tools, a wider selection of cryptocurrencies, or simply a preference for a different user interface, exploring other platforms can be a beneficial move for many investors. Each alternative, be it OKX, Kraken, MEXC, Coinjar, or Etoro, brings its unique strengths to the table. The choice ultimately depends on the individual investor’s specific needs, trading style, and goals in the dynamic world of cryptocurrency.

References

  1. “Coinbase Review: Is It the Best Exchange for Beginners?” – CoinDesk

  2. “OKX Exchange Review: Crypto, Trading & Fees” – CryptoCompare

  3. “Kraken Exchange Review: What to Consider Before Trading” – Investopedia

  4. “MEXC Exchange Review: Features, Fees, and Security” – Blockchain News

  5. “Coinjar Exchange Review: A Comprehensive Guide” – Finder

  6. “Etoro Crypto Exchange Review: Trading Options and Fees” – NerdWallet

  7. “Understanding Crypto Staking” – CoinMarketCap

  8. “Comparative Analysis of Cryptocurrency Exchanges” – Journal of Cryptocurrency Studies

FAQs

“Bitcoin Cash offers faster transaction speeds and lower fees compared to some offerings on Coinbase. It’s a popular alternative for those looking for more efficient and cost-effective crypto transactions.”

“Yes, many Coinbase alternatives allow you to link your bank account for seamless deposits and withdrawals, making the process of buying and selling cryptocurrencies more convenient.”

“Exchanges like Kraken and Binance are known for their competitive trading fees, providing a cost-effective alternative to Coinbase, especially for frequent traders.

“Yes, platforms like OKX and BitMEX offer futures trading, giving users an opportunity to engage in more advanced trading strategies compared to what’s available on Coinbase.

Higher trading volume on an exchange typically means more liquidity, which can lead to faster trade execution and more stable prices, a key consideration when choosing a Coinbase alternative.”

“Exchanges like Binance and Huobi offer a wider range of cryptocurrencies than Coinbase, making them ideal for traders looking to diversify their crypto portfolios.”

“Yes, several alternatives to Coinbase, such as MEXC, offer a variety of crypto derivatives trading options, including options and futures. We have checked whether MEXC is safe and the answer is yes on the most part.”

“Most Coinbase alternatives support bank transfers as a method for depositing funds. However, the processing time and fees may vary depending on the platform and your bank.”

“Withdrawal fees vary across different platforms. Some Coinbase alternatives may offer lower withdrawal fees, while others might charge higher fees for certain withdrawal methods or currencies.”

“Yes, platforms like Etoro and Interactive Brokers provide a more comprehensive trading account experience, offering advanced tools and a wider range of investment options beyond cryptocurrencies.”

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Epilogue

 
Who Created This Content: This guide was authored by Thomas Drury is an experienced financial trader in leverage intruments, crypto and general investing.

He has over a decade experience in finance and holds Chartered Status in the financial industry, Thomas’s specialty is trading CFDs, Forex and Day Trading.

His crypto portfolio is heavily weighted towards Bitcoin and Ethereum, but enjoys trading low cap crypto’s with higher volatility. Thomas’s favourite trading strategy is break out Trading.

How This Content Was Created: Our assessment of the the best places in the UK to buy Dogecoin is rooted in rigorous research and firsthand experience. Here’s our methodology:

  • Platform Testing: We actively tested multiple platforms over a span of six months, analysing their functionalities, ease of use, and reliability.

  • Fee Analysis: Each platform’s fee structure was dissected to ascertain its competitiveness in the market.

  • User Feedback: We engaged with real users and considered their reviews and experiences, lending a holistic perspective to our evaluation.

  • Market Dynamics: Regular updates from industry news, changing regulations, and market dynamics ensure the guide remains current and reliable.

  • AI-Assistance: While human judgment and expertise are at the core of our assessments, we utilized AI tools to improve structure, critique our work.

Note: Our use of AI tools is strictly for data gathering and content assistance. All conclusions drawn and recommendations made are based on human analysis and judgment.

Why This Content Was Created: Our primary objective in creating this guide is to empower traders, both seasoned and novices, with impartial, comprehensive, and actionable information to make informed decisions.

We understand the complexity of the stock trading world and aim to simplify it for our readers.

While we hope our content is discoverable by those seeking insights, our main priority is to provide genuine value to our visitors.

We staunchly oppose content creation practices that manipulate search rankings or violate any standards of integrity.

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