Coinbase is the largest and most popular cryptocurrency exchange in the world. While it is well-know for its friendly interface, easy-to-use mobile app and reliable service, there are some drawbacks too.
Coinbase only offers a few Coins, namely Bitcoin, Bitcoin Cash, Litecoin and Ethereum. Furthermore, it sells coins at a an exchange rate well above the average market price and has high processing fee.
Let’s take a look at some alternatives that over a wider selection of cryptocurrencies and lower trading fees.
CoinMama is a large crypto exchange platform that allows users to buy coins with their debit or credit cards.
To purchase coins, you have to sign-up, login, fill out the profile section and then you are ready to make an order. The platfrom has an extra perk: If you are ordering less than $150 worth of BTC you don’t have to complete the verification process. There is also an exciting update for CoinMama recently: They have added Cardano (ADA) to the list of coins you can now obtain on the platform.
Select the amount you would like to purchase in USD value or BTC, then you will walk through the preferred payment method and Bitcoin wallet address. CoinMama does not offer a wallet service, therefore you must prepare the bitcoin wallet before you purchase you coins from the broker.
During the payment completion, CoinMama will ask you to verify the transaction using a code sent to you mobile phone number and your emaiul address.
CEX.io is from the UK and has been around for a long time and has proven to be secure and trustworthy.
While the the trading fees on CEX.io are lower than on most exchanges, it’s drawback is a somewhat lenghty verification process which may cause a slight delay for the fast-paced user. CEX makes up for it by accepting Visa and Mastercard payments. Furthermore the selection of coins is quite impressive: You can purchase BTC, ETH, BCH, BTG, DASH, XRP, XLM and ZEC on their exchange platform. Not only do they accept a variety of coins, they also accept different fiat currencies such as USD, GBP, RUB and EUR.
CEX claims to have the largest worldwide coverage of countries in which it allows to purchase cryptocurrencies, however that is a claim that is not easy to verify.
If you are willing to sit it through though, you are invited to an elegant and fast interface that this platform features.
Changelly is a service provider that is predominantly used to convert one cryptocurrency to another. Not only is it easy to use, it also offers an extensive range of cryptocurrencies to choose from. You can use your credit or debit card to make instant purchases.
The sign-up process is very simple and easy and you can verify your account with an email confirmation. With thousands of happy customers worldwide, changelly is a great choice. Changelly started out as a Mining company Minergate (which still exists today) and evolved to a fully-fledged exchange platform.
The team of engineers behing Minergate did a good job building this novel decentralized exchange. On Changelly you do not require an account to make a purchase – it generates a temporary wallet for you, each time you want to make a purchase. All you need it your credit card, email address and bitcoin wallet.
The greatest amount of flexibility can be found on LocalBitcoins. It it’s an escrow service for peer-to-peer trades. Essentially, it connects local buyers and sellers and gives them a platform to execute a trade.
LocalBitcoins is a great platform. because it allows you to process through any local Bank transfer or deposit and even allows you to purchase Bitcoin locally in cash. Bear in mind that the platform is trustworthy, but since you are buying from other users, there is still opportunity of getting scammed. Be diligent in checking the sellers rating and communicate the payment verification well.
There are no charts or graph on LocalkBitcoins, which makes it a great place to start for anyone new to crypto. You will find it self-explanatory and very easy to use. The minimalistic website is very straight-forward and will help you find your way around very quickly. An added bonus is that you can purchase bitcoin anonymously on LocalBitcoins.
Clearly, Coinbase is not your only option when you are looking to pick up some coins. There are many different platforms to choose from and a few key points to keep in mind, such as fees, verification processes and coin selection. Make sure that you are using a trustworthy platform when you are making a purchase.
We hope this article provided some useful information to you. We have compiled a list of 4 trustworthy recommended exchanges in this list. Feel free to try them all and choose one that works best for you.