3 Best Binance Alternatives For Buying Cryptocurrency 2018
The massive boom in the popularity of cryptocurrencies has led to a surge in the demand for exchange platforms like Binance. Binance controls a huge chunk of the coin market, and with new users signing up daily, the user interface is under pressure.
The average user of Binance is comfortable with the easy layout and simple-to-use registration protocol Beyond this, as users’ increases, looking for a Binance alternative also becomes important for diversification purposes.
A consistent trader needs to have 2 to 3 platforms to spread and stay above unique risks.
PART 1: Binance Problems
The nature of cryptocurrency trade is such that persons across the globe are still getting used to on a daily basis. Not understanding basic protocols of trading could lead to a ton of challenges, and this is a pointer to Binance problems.
While Binance alternatives are necessary to explore, it is also right to figure out that the astronomic increase in the user base is a challenge. The support tickets raised by active users on the platform have to be answered, and solutions proffered.
With the threat of hackers looming over exchanges, Binance has to upgrade its systems and algorithms to stay above water. While this might not be a problem peculiar to Binance alone, as a big fish in the cryptocurrency pond, it has more exposures.
Every problem recorded on the Binance platform surely exists on other cryptocurrency exchanges, but, likely to varying degrees. As hard forks spring up right, left and center, the exchange has to be up to speed to ensure that users are able to access their tokens.
Using a Binance alternative can be a way to mitigate the above challenges as a cryptocurrency trader.
PART 2: 3 Best Alternatives to Binance
|Binance Alternatives||Reviews||Security||Fees||Payment Support||Tokens Support||Check Reviews|
|KuCoin Review||Good||Trading Withdrawal Fees||No fiat currencies USDT and cryptocurrency||Bitcoin,NEO kucoin, Ethereum and many others||Buy|
|Poloniex Review||Good||Trading fees only|
No withdrawal Fees
|No fiat currencies cryptocurrency supported||Ripple, Monero, Bitcoin, Ethereum, and Others||Buy|
|Changelly Review||Good||Card transaction fees, Trading and withdrawal fees||Credit/debit cards and cryptocurrency||Bitcoin, Monero ,Ethereum, Dash, and others||Buy|
Kucoin has earned a name in the cryptocurrency exchange platforms marketplace as star performer. It stands out as one of the possible Binance alternatives available to the token trader.
The company operates out of China, and has won a sizeable share of the altcoins trading market. Kucoin hit the front page of late after issuance of its ERC-20, known as Kucoin Shares or KCS.
Like the advantage offered to users of the Binance platform with BNB tokens, Kucoin also gives an incentive.
Users of the exchange will get a 30 percent discount on trading fees by using the KCS. There is also a bonus for the user that equates to 50 percent of total trading fees.
By offering users a share of trading fees, Kucoin is winning over a lot of users across the globe. The exchange supports more than 150 tokens in trades, and its default currencies are KCS, USDT, ETH and BTC
What users are saying
Users of the Kucoin platform are intrigued by the simple navigation offered. The complement of trading charts and analysis is commendable.
Beginners will find the exchange easy to use, and old-time cryptocurrency traders will make their way around easily. You can also check more from this Kucoin review
Poloniex reigned supreme in the cryptocurrency exchange marketplace until other competitors made their entrance. Specifically, the launch of the Bitrex exchange doused the popularity of Poloniex. When Binance came to the scene with its innovative features, Poloniex was hit by a users’ exodus.
The exchange operates out of the USA, and it has grappled with slow transaction pace to the chagrin of users. The customer support efficiency of Poloniex has also declined in such a way that it has become a Binance alternative.
Perhaps what keeps Poloniex in the reckoning among cryptocurrency exchanges is its predictable dependability. While its transactions are slow, operating in a highly -regulated environment like the USA, gives it little room to falter.
Users of the platform enjoys it robust liquidity and assured withdrawal processing. There are withdrawal fees charged, and you will enjoy the robust margin trading tools it offers.
The default currencies here include USDT, BTC, XMR and ETH, making it flexible for multiple pairs as you may wish. The count of tokens traded is surging at the moment, but, still under 100.
What users are saying
Poloniex has a business-like website and of late, its token countdown includes a colorful table and graphs. The rugged resilience of this exchange puts it among the top 10 performing cryptocurrency exchanges.
Cryptocurrency newbies will find the platform easy to navigate trade and explore.
The announcement of Changelly as a new exchange came to many cryptocurrency enthusiasts as a breath of fresh air.
The exchange made a break from the restrictiveness of fiat currency acceptance associated with Binance and Poloniex. The company operates out of Prague in the Czech Republic.
As a Binance alternative, users who want to purchase tokens outright with their debit or credit cards are free to do so. In this sense, this exchange came into the market space with a unique selling point.
On Changelly, you will exchange your cryptocurrency seamlessly as you desire. By allowing users make bids before they buy tokens, customers are offered the best deal possible.
The exchange supports over 80 tokens and is integrated with notable cryptocurrency websites like Coinmarketcap, Bitrex, Jaxx, among others
What users are saying
The unique selling point of allowing users’ trade without verification opens the platform to users across the globe. By continuously adding new trading pairs , this exchange gets ingratiated to users each day.
PART 3: Best Binance Alternative – My Choice
Choosing the best Binance alternative might look like a simple throw of the dice, but, it is not. If you are a newbie, you will be comfortable using the Kucoin exchange. For people who have little patience for the twists of sending tokens from one exchange to the other, go with Changelly.
Experienced users will not let go of the chance to keep part of their holdings with Poloniex, This is, of course, a vote for its stability.
PART 4: Conclusion
The 3 best binance alternatives have their selling points that cannot be ignored. What is responsible for the attention they have in the marketplace is the unique strengths they possess.
If you have not opened a Binance account yet, you can do so today, by using this link.