The Best Binance Alternatives 2023

Binance is the largest cryptocurrency exchange globally, trusted by over 120 million users. However, it stopped operating in the US in 2019 and formed an affiliate exchange called Binance.US to operate in the country. This branch functions at a considerably lower level than the parent company.

Due to this, US customers are searching for alternatives that match Binance’s product offering, features, and fees. We have compiled a list of top Binance.US alternatives and compared their unique features, pricing structure, and more.

Top 7 Binance.US Alternatives Compared

Here are the best alternatives to Binance.US

1. Robinhood – Best for Multi-Asset Investment

Robinhood is a zero-commission online broker where users can buy and sell multiple assets including cryptocurrencies. It has gained popularity due to its user-friendliness and making the financial markets accessible to all.

Robinhood Products and Features

Robinhood offers exclusive features and products that aim to liberalize the financial markets and attract many new traders. We have highlighted a few below.

Cryptocurrency Trading

You can start your crypto trading journey with as little as $1 without paying any commission through various trading strategies like market orders, limit orders, stop orders, and stop limit orders.

Crypto Order Routing

Robinhood makes trading easier for you by routing your crypto orders to multiple trading venues and finding the best possible price to buy or sell crypto.

Learn and Earn

Upon registering yourself on the Robinhood platform, you get access to its learn and earn program where you can receive crypto rewards for completing lessons and winning quizzes on crypto.

Robinhood Security

Robinhood has implemented different security measures to protect accounts and personal data. Identity verification is strengthened by two-factor authentication (2FA) and email alerts. Other features include fraud detection, account protection, and data encryption on the system.

Is Robinhood Beginner Friendly?

Robinhood is beginner-friendly with a simple and intuitive user interface. It is designed to eliminate the complexities of financial market trading by providing an easy on-ramp solution for beginners.

2. eToro – Best for Social and Copy Trading

eToro is an excellent alternative to Binance, especially for beginners looking to trade multiple assets. The platform’s social and copy trading capabilities allow traders to share ideas, replicate portfolios, and copy trades.

You can easily deposit funds through a bank transfer and exchange fiat for crypto assets.

eToro Products and Features

The top features and products on eToro include:

CopyTrader

This capability enables traders to mimic the moves of top-performing traders on the platform. You can start and stop this feature at any time at no additional charge. Copied trades are reflected in your portfolio in real time.

Trade Cryptocurrency with Contracts for Difference (CFDs)

eToro allows you to speculate on the price movement of a crypto asset through CFDs. These trading instruments offer the opportunity to leverage your capital, increasing your exposure to profits or losses. eToro currently offers a leverage of X2 on all crypto assets.

Crypto Staking

You can own and hold supported crypto on eToro to earn rewards which are paid monthly, although eToro retains a small percentage as a fee. Some of the coins eToro supports are Cardano, Tron, and Ethereum.

eToro Cryptocurrency Selection

eToro provides a solid variety of leading crypto assets. You can create custom watchlists and follow crypto trends with advanced charts and analysis tools.

The top five cryptocurrencies on the platform are

• Bitcoin

• Cardano

• Ethereum

• BNB

• IOTA

eToro Security

eToro employs a multi-tiered solution to protect client data and assets. Some of these measures are

• Fraud detection mechanisms to prevent cyber criminal activities.

• Cryptos are stored in online and offline wallets to deter hacking.

• Transaction data is encrypted throughout the system.

• Two-factor authentication (2FA) provides an extra layer of security to users’ accounts.

• eToro is authorized and regulated by FINRA and FinCEN.

Is eToro Beginner-friendly?

eToro provides an extensive library of educational content, an intuitive platform, social trading capabilities, and smart portfolios, making it easy for beginners to start their investment journeys on the crypto landing platform. If you’re looking for eToro alternatives, there are several other online trading platforms that offer similar features and services to cater to your investment needs.

The app is backed by an active community where beginners can connect, learn and share with experienced traders.

3. Pepperstone – Best For Trading Crypto CFDs

Pepperstone is a global forex and contracts for difference (CFD) broker that provides professional tools for trading multiple types of assets. The broker has been in operation for well over a decade, and in that time, it has built a strong reputation, gained a large global user base, and won multiple awards.

Pepperstone Products and Features

Pepperstone has a variety of tools that can cater to professional traders due to their speed and reliability. We’ve discussed some of the standout features below.

Access to Diverse Markets

Pepperstone provides access to an extensive range of over 1,200 instruments. As well as crypto CFDs, you can trade CFDs on Forex, shares, commodities, ETFs, indices, and currency indices.

Multiple Trading Platforms

Pepperstone caters to users with a range of needs and experience levels. MetaTrader 4 is customizable and highly popular, while MetaTrader 5 provides greater functionality and more advanced trading tools. Those who want an intuitive interface that reflects an institutional trading experience can use the cTrader platform (pictured), which can be integrated with the powerful charting tools of TradingView.

Analysis and Education

Pepperstone has a global team of experts who provide insights in the form of market analysis, news articles, and video broadcasts. You’ll also find a range of trading guides and educational webinars if you want to brush up on your trading knowledge.

Pepperstone Security

Pepperstone is licensed by leading regulators around the world, including ASIC, FCA, and CySEC. It segregates client funds in tier 1 regulated EU banks, and all client money is protected from creditors in the event of liquidation of Pepperstone.

Is Pepperstone Beginner-Friendly?

CFDs are complex instruments that carry high risk, so should only be traded by those with sufficient understanding. The cTrader platform would suit traders who want an easy-to-use interface, but beginners may find the advanced trading tools difficult to use.

4. Gemini – Best for Active Traders

Gemini is a crypto exchange for buying, selling, and storing over 100 crypto assets on the platform.

Gemini Products and Features

Gemini’s leading features and products are:

ActiveTrader

This is a high-performance crypto trading platform designed for professional and experienced traders. It features advanced charting, speedy order execution, and multiple order types.

Gemini Credit Card

Rewards from purchases made through this credit card are instantly turned into crypto assets. You can choose to be rewarded in popular coins like Bitcoin and Ethereum. In addition, Gemini offers the best crypto credit card, empowering users to seamlessly transact with digital currencies while enjoying the convenience and security of a traditional credit card. Moreoever, As the competition in the digital finance world heats up, many users are comparing the features of the Gemini crypto credit card with those of other platforms, sparking a growing debate on Gemini vs Crypto.com, and leading to a detailed analysis of the benefits and drawbacks of both services.

Staking

Without having to meet a minimum amount requirement, you can stake several crypto assets such as Ethereum staking or BNB staking on Gemini and get paid out directly to your account.

Cryptocurrency Selection

Gemini supports over 100 cryptocurrencies and the top ones include:

• Bitcoin

• Ethereum

• USD Coin

• Solana

• Tether

• UMA

Gemini Security

Gemini offers strong protection with its cutting-edge security standards through:

• Security certifications

• Insurance coverage for wallets and Gemini Custody

• Licensing by the New York Trust company

• Securing accounts through hardware security keys

Is Gemini Beginner-Friendly?

Gemini is secure and beginner friendly, with amazing features. It makes it easy to deposit funds through various payment methods, buy crypto and store it in a hot wallet. However, Gemini’s fee structure can be complex for beginners.

5. Coinbase – Best for Beginners

Coinbase is a popular crypto exchange and wallet that allows users to buy, sell and store digital assets. It provides an easy-to-use platform for beginners, removing complexities from investing in crypto.

Coinbase Products and Features

Here are the main features and products that Coinbase offers.

Coinbase Wallet

This crypto wallet allows you to store and manage your private keys. It gives you complete access and control of your crypto assets.

Coinbase Learning Rewards

Coinbase runs a program that allows users to earn rewards by completing educational tasks and quizzes. It has an extensive library of educational content, including videos, articles, and market updates.

Coinbase Earn

By staking valid cryptos or engaging in DeFi yield farming (i.e. lending your cryptocurrencies to the third-party Defi lending app), you can earn up to 6% APY.

Cryptocurrency Selection

Popular cryptocurrencies on Coinbase include:

• Bitcoin

• Ethereum

• BNB

• Tether

• XRP

Coinbase Security

The Coinbase ecosystem is secured through

• Data encryption

• Coinbase vault, and multi-approval withdrawals

• Account protection through 2FA

• Fraud detection using AI

• Asset segregation using top-tier banks.

Is Coinbase Beginner-Friendly?

Buying and selling crypto assets is quite easy with Coinbase. The interface is modern and intuitive, giving users easy access to many cryptocurrencies. However, it also features advanced tools on Coinbase Pro for experienced traders.

Coinbase has responsive customer support that helps users resolve issues quickly. There are also educational resources to help users learn about crypto trading.

6. Bitrue – Best for Passive Income Investment

With Bitrue, you can buy, trade, and invest in over 700 cryptocurrencies. It’s possible to simply trade crypto or use complex instruments like futures on the platform.

Bitrue Products and Features

See below for some top products and features by Bitrue.

Loans

The users can lock their crypto assets as a collateral in the smart contract to receive crypto loans in exchange. As soon as the loan is repaid, the assets are unlocked and reverted back to the user. Customers can access this crypto-backed borrowing service at low crypto interest rates and high loan-to-value ratios.

Launchpad

An initiative that connects interested investors with crypto projects that are in their early stages to raise capital. This is done by making the native assets of the project available to investors at a lower price.

Staking

Earning up to 100% APY in BTR or the staked coin is made possible by staking cryptos in Biture. You cannot withdraw the invested assets until maturity is reached. Moreover, crypto enthusiasts looking to maximize their earnings through staking can explore the fascinating world of blockchain technology and discover the best staking platform for their investment goals.

Cryptocurrency Selection

The top cryptocurrencies on Bitrue are:

• Bitcoin

• Ethereum

• Litecoin

• Sandbox

• Apecoin

Bitrue Security

Here are some of the measures Bitrue has implemented to keep investors’ assets safe:

• Whitelisting devices and IPs

• Cold wallets to store assets offline

• Account lock for terminating unauthorized account access

Is Bitrue Beginner Friendly?

Bitrue caters to novice and expert traders with a wide selection of crypto assets and an intuitive trading platform. It also allows you to trade professionally through various features, such as derivatives.

7. Changelly – Best For Non-custodial Swaps

Changelly is an instant crypto exchange where you can buy, sell, and swap over 500 cryptocurrencies directly from your private wallet, without the need to register or trust a company to look after your funds.

Changelly Products and Features

Changelly provides a simplified interface, where you can access the following:

Best Market Rates

Changelly monitors the prices on a variety of crypto exchanges to find users the best rate whenever they want to buy, sell, or swap any of the 500+ coins that Changelly supports.

Non-custodial Crypto Exchange

As Changelly is non-custodial, users remain in full control of their funds throughout the exchange process and don’t need to trust the platform with their private keys. This also means that Changelly doesn’t require users to go through a KYC process.

Mobile App

The Changelly App enables users to buy, sell, and swap more than 150 cryptocurrencies from anywhere. You can use it to make a watchlist, monitor prices, and exchange crypto quickly, with low fees and the best market rate.

Changelly Security

As Changelly doesn’t store users’ funds, you can ensure strong security for yourself. Changelly’s integration with Trezor means that you can keep your crypto safe in a cold storage. The app also uses the most advanced technology to protect user data and has never been hacked in its history.

Is Changelly Beginner-Friendly?

The Changelly interface is so intuitive and easy to use that beginners will have no trouble navigating it. The only potential hurdle is that Changelly’s non-custodial nature means that users will need the skills to set up their own private wallet. Coinbase Wallet and Exodus could be good options in terms of user-friendliness.

Honourable Mentions

Some other alternative platforms to Binance are:

Moomoo

This US-based multi-asset online broker offers clients access to global markets, including cryptocurrencies. Apart from commission-free trading, investors get powerful tools, real-time data, and AI support alerts.

Webull

This new-generation trading platform offers commission-free trading and multiple tradeable instruments, such as stocks and crypto assets. It’s best suited for intermediate traders who want to diversify their portfolio on an easy-to-use platform.

Binance.US Alternatives Fee Comparison

See the different pricing structures for the platforms we have listed.

Binance Overview

You can buy, sell and hold over 150 crypto assets on the platform including Bitcoin, Ethereum, Cardano, and Dogecoin.

Binance.US users can access the platform through a mobile app or the web. It’s easy to use for beginners, experts, and institutional traders.

You can set up an account in minutes, manage it, and set up advanced processes like automated investing periodically with dollar-cost averaging.

Users can stake their crypto and earn interest while holding cryptos on the platform. Large investors also benefit from the OTC platform, which allows trading large volumes of digital assets without market disruption.

Why Are Investors Searching For Binance.US Alternatives?

Binance is made available to US residents through its affiliate Binance.US. It was barred from operating in the country in 2019, which compelled investors to look out for other platforms following the regulatory standards in the US.

Moreover, the platform has fewer products and features than alternatives like Coinbase, eToro, and Gemini.

Unfortunately, Binance.US accounts are currently unavailable to users in Texas, New York, Hawaii, and Vermont.

Binance’s BNB chain suffered a security breach in 2022, with hackers stealing $570 million in tokens. This affected the brand reputation of Binance among the users.

Binance.US Alternatives

Binance is a leading cryptocurrency exchange with many digital assets and features. However, Binance only operates in the US through its affiliate exchange, Binance.US, which lacks many features available on the parent platform.

There are many alternatives in the US, such as Coinbase, eToro, and Robinhood, with unique benefits and features. Beginners can use Coinbase and eToro, which have simple and intuitive interfaces.

You can read our comprehensive reviews of Binance.US alternatives so that you can make an informed decision.

FAQs