Binance Alternatives You Should Know
When it comes to the buying, selling, and trading of Bitcoin, Ether, Altcoins, and other cryptocurrencies, there are plenty of platforms to choose from. Nevertheless, not all crypto trading platforms are created equal. Different platforms have different rules, regulations, fees, etc. Therefore, you should always do your due diligence before subscribing to any given platform. That said, the following is a closer look at some alternatives to one of the more prominent crypto-trading platforms, Binance.
What are the Best Binance Alternatives
As mentioned, there are lots of alternatives in terms of Binance alternatives. Here are some of the best options at this time.
Kraken - Best Binance alternative in the US
Kraken is a great alternative to Binance because it offers an updated onboarding process, which is shorter than the process being used with many other platforms. It also keeps 90% of assets in cold storage, 2FA withdrawal email confirmation, precise API key permission control, and SSL encryption, making them far more secure than many other platforms.
Bybit - Best Binance Alternative in the World
On the other hand, Bybit is also an excellent alternative because it offers is offers an intuitive interface, margin trading with up to 100x leverage, offers quick and safe withdrawals and deposits, and a superior level of security that includes SSL certificates, advanced Mark and Index pricing, as well as two-factor identification.
Binance Alternatives
| Trading Conditions | Binance | ByBit | Kraken |
|---|---|---|---|
| Minimum Deposit | $10 | $10 | $1 |
| Trading Platforms | Binance | ByBit | Kraken |
| Max Leverage (Futures) | 1:100 | 1:100 | |
| Max Leverage (Spot) | 1:10 | 1:10 | 1:5 |
| Base Account Currencies | USD, EUR, GBP +10 fiat currencies, 50+ Cryptocurrencies |
Crypto | USD, EUR, GBP, AUD, CAD, CHF, JPY + 98 Crypto |
Binance Alternatives - Fees
| Fee | Binance | ByBit | Kraken |
|---|---|---|---|
| Max Maker | 0.1% | 0.1% | 0.16% |
| Max Taker | 0.1% | 0.1% | 0.26% |
| Min Maker | 0.012% | 0.1% | 0% |
| Min Taker | 0.024% | 0.1% | 0.1% |
| Debit/Credit Card Purchase Fee | 1% | 0% | 3.75% + $0.25 |
Futures Trading Fees
| Fee | Binance | ByBit | Kraken |
|---|---|---|---|
| Max Maker | 0.02% | -0.025% | 0.02% |
| Max Taker | 0.04% | 0.075% | 0.05% |
| Min Maker | 0% | -0.025% | 0% |
| Min Taker | 0% | 0.075% | 0% |
Non-Trading Fees
| Fee | Binance | ByBit | Kraken |
|---|---|---|---|
| Deposit Fee | 0% | 0% | 0% |
| Bank Transfer Withdrawal Fee | 1.5 USD | - | 4-35 USD |
| Debit/Credit Card Withdrawal Fee | 0% | 0% | 3.75% + $0.25 |
| BTC Withdrawal Fee | 0.0001 | 0.0005 | 0.001 |
Supported Coins and Crypto Assets
| Asset Name | Binance | ByBit | Kraken |
|---|---|---|---|
| Supported coins (total) | 395 | 239 | 190 |
| Markets (total) | 1659 | 347 | 588 |
| Bitcoin (BTC) | Yes | Yes | Yes |
| Litecoin (LTC) | Yes | Yes | Yes |
| Dogecoin (DOGE) | Yes | Yes | Yes |
| Shiba Inu Coin (SHIB) | Yes | Yes | Yes |
| Binance Coin (BNB) | Yes | Yes | Yes |
| Uniswap (UNI) | Yes | Yes | Yes |
| Ripple (XRP) | Yes | Yes | Yes |
| Polkadot (DOT) | Yes | Yes | Yes |
| Cardano (ADA) | Yes | Yes | |
| Tron (TRX) | Yes | Yes | Yes |
| Crypto Futures | Yes | Yes | Yes |
| Crypto Options | Yes | Yes | No |
| NFT | Yes | Yes | Yes |
| ETF | Yes | No | No |
What is the Best Binance Alternative in the US
If you are searching for the best Binance alternatives in the US, Kraken will be a top choice. This is because Kraken supports NFTs and Futures trading. It also includes a wide array of markets as well as better regulations than those in many other countries.
What is the Best Binance Alternative in the world?
On an international level, ByBit is one of the top options. This is because they offer an excellent array of trading assets, futures, and options. They also have very low fees when compared to other similar platforms.
FAQs
Are there withdrawal limits for Bybit?
Yes. On the KYC level 0, it is 2 BTC; On the KYC Level 1, it is 50 BTC; On the KYC Level 2, it is 100 BTC.
Is there a minimum withdrawal fee for Bybit?
Yes, there is. The amount of the withdrawal fee depends on the asset and where you’re located. Either way, a trader can view the minimum amount of the withdrawal the pertinent fees will appear in the withdrawal window. Please note that the withdrawal fee is fixed for any withdrawal amount.
Are you allowed to transfer funds between Kraken accounts?
No. Transferring cash and cryptocurrencies between Kraken accounts is not possible. This is because withdrawals and cash deposits can only originate from a bank account that is under the same name as the one you verified your account name under.
Are withdrawals from Kraken subjected to holds?
Although they are not necessarily subject to holds, they may be put on hold for up to 72 hours, depending on the circumstances.
Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Glory is a professional writer for the Traders Union website with over 5 years of experience in creating content in the areas of NFT, Crypto, Metaverse, Blockchain, or Web3 in general. Over the last couple of years, Glory has also traded on different cryptocurrency and NFT platforms including Binance, Coinbase, Opensea, and others. “I understand a lot about this space, being familiar with CEX, DeFi, and DEX, as well as operating across the Ethereum, Binance, and Polygon networks. Also, I know the intricacies and subtleties of NFTs and crypto, thus I am able to bring to table the best content and help connect with the audience better.”
Knows about
NFT, crypto, metaverse, blockchain, Web3
Alumnus of
Brooklyn College
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.