We are searching for the best Binance alternatives in the cryptocurrency market. There might be many reasons why you don’t want to use Binance and you want to trade using other cryptocurrency exchanges. Fortunately, the crypto market is quite large and it has many different participants offering trading solutions to users.
But which are the best Binance alternatives? Some exchanges are offering similar services to Binance and would also have large volumes for different trading pairs. Some of these exchanges offer services to users worldwide and would let you trade and handle digital assets without problems.
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There might be different reasons why people want to use Binance alternatives to trade cryptocurrencies. One of the reasons could be related to the recent KYC and regulations implemented to be compliant with regulators. Another reason could be related to the high fees to trade or withdraw funds.
Now the question is: which are the best Binance alternatives available in the market? We share with you some of them in the next sections. Most of these exchanges have already been operating for several years and they would be very useful for you to trade digital assets.
Let’s start with the first Binance alternative: Coinex. Coinex is a cryptocurrency exchange that is known for its low fees and its large number of digital currencies supported. It indeed has several trading pairs that are not available on the Binance exchange.
That means that you would not only be able to purchase digital currencies that are not present on Binance, but you would also be able to withdraw your funds without having to be worried about high fees. Just to use an example, a BTC withdrawal on Coinex pays a fee of 0.0001 BTC while on Binance the fee is five times larger: 0.0005 BTC.
Coinex is also letting users trade and use its services without passing KYC checks. This is extremely important in a market that has been adding new regulations and restrictions that investors should be compliant with.
Furthermore, Coinex has added different sections that let users have similar services like on the Binance exchange. They can borrow funds, lend their assets and earn rewards. Additionally, they have different trading options that would make it easier for them to execute their trading strategies.
KuCoin is also trying to differentiate itself from Binance. This was one of the first Binance’s competitors that tried adding several trading pairs and new functionalities. The main thing to pay attention to about KuCoin is its large number of trading pairs. As it happened already with CoinEx, some of these trading pairs are not present on the Binance exchange, allowing users to expand their portfolios even further.
With the expansion of the crypto market, exchanges started adding other functionalities besides crypto trading. This is why KuCoin decided to add a financial section in which users could borrow and lend funds, among other things. Additionally, it has released a new crypto token called KuCoin Shares (KCS), similar to Binance Coin (BNB).
Furthermore, KuCoin is also not requesting a complete KYC verification as other exchanges. It was one of the platforms that decided to remain at the sides of most of the regulations implemented by regulatory agencies around the world. Due to this reason, KuCoin has been attracting a large number of users that cared about their privacy and that wanted to protect their data.
Finally, another Binance alternative is called Okex. This is one of the largest exchanges in the world as it has the second-largest trading volume after Binance. If you are a large trader, then you could start using this platform as it has the necessary liquidity to execute trades on most of its trading pairs.
Compared to Binance, you will find some unique trading pairs on Okex that you would not find using the Binance exchange. In addition, Okex is a cryptocurrency platform that is operating all around the world and that does not require users to complete exhaustive KYC checks. This is very important right now as Binance is requesting private data from all of its users, independently from the funds they hold or handle on the platform.
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