Although Binance is one of the best cryptocurrency exchanges, not everything about its service is perfect. If you were disappointed with the service offered or just want to explore the best alternative to Binance, you will be served. In the following lines you will find a summary of the alternatives that are worth considering.
To make this article as objective as possible, please know that we have taken the time to test each platform extensively to compare their strengths and weaknesses.
Best Binance Alternatives in 2022:
What characterizes the best alternatives to Binance?
The crypto platforms that we are about to introduce to you are great alternatives to Binance, either because they offer similar features and characteristics, or because they offer something that Binance does not.
In addition, the cryptocurrency buying platforms listed below have proven to be easier to use than Binance. So they’re perfect if you want to start off easy…or if you don’t want to mess around with overly complex interfaces.
All of the Binance alternatives that we are about to present to you offer an excellent level of security. These platforms also have the advantage of being reliable. Therefore, you will not have unpleasant surprises when investing through them.
However, be sure to choose the platform that best suits your expectations. If you enjoy trading cryptocurrencies, it is obvious that eToro is the best choice. And if you prefer to invest only through your smartphone, ZenGo can be a good choice (although the eToro app is great too).
That being said, and to be completely transparent with you, we believe that no matter which option you choose, you can’t go wrong.
Best Binance Alternative: 2 Platforms You Should Consider
Before choosing an alternative, you will probably want to know more about the crypto platforms we recommend. Below we will present them to you in brief form.
This will help you know where to turn to deal with some of the disadvantages of using Binance.
1) eToro: The best alternative to buy crypto and trade
eToro is the best alternative to Binance right now. It must be said that it does much more than just compete with the world’s most popular exchange by offering some exclusive features that you don’t have on Binance. It is no coincidence that we believe that it is currently the best crypto platform in France.
For example, by opening an account with the eToro broker, you will be able to communicate and exchange information with other investors. eToro has an aspect that is its strong point: a real social network integrated into its investment platform. The broker also gives you the opportunity to trade copies. If you want to learn from more experienced investors, you can do so with this feature.
Moreover, this crypto platform is one of the few if not the only one that allows you to diversify your investments. What do we mean by this statement? Broker eToro, unlike its direct competitor, gives you the opportunity to invest through a single account in: cryptocurrencies, hundreds of stocks, ETFs, as well as commodities and currencies.
When it comes to buying cryptocurrencies, there are over 70 assets on offer, with new ones added almost weekly. In terms of fees charged, eToro applies a flat rate of 1% to every trade made, which is more than enough.
If we consider eToro the best alternative to Binance, it’s also because its service is easy to use. You will never feel lost (whether you use the broker’s website or the app). Everything is done so that you can buy and sell cryptocurrencies with just a few clicks. So say goodbye to the complicated interfaces offered by Binance.
What about the security and reliability of the platform? We have no complaints about this. eToro has been in the business since 2007 and the broker has built a solid reputation.
The company is based in Europe, more specifically in Cyprus. Therefore, it is regulated in the European Union, which is great news. This goes even further as eToro has PSAN approval granted in France by the AMF (Autorité des Marchés Financiers). The PSAN approval (for “Digital Asset Service Provider”) further proves the seriousness and reliability of the broker. Indeed, obtaining such registration depends on compliance with strict requirements.
To find more information about this broker, you can view our eToro test.
Learn more about eToro:
- Number of cryptocurrencies available: 70+
- Commission: 1% for each transaction (buy/sell)
- Website: www.etoro.com
2) ZenGo: An easy-to-use (and secure) app
The second interesting alternative to Binance is ZenGo.
The peculiarity of this platform for buying and exchanging cryptocurrencies is that it is available only through the application. Why such a choice? Simply put, to offer the simplest possible user experience.
As we noted earlier, this is a great app for buying cryptocurrency.
Unlike Binance, everything will be done quickly and easily. To give you an example, in less than a minute you will be able to buy digital assets.
The ZenGo app is of course compatible with Android and iOS devices. That being said, we would like to clarify that ZenGo does not offer a simple application for buying and selling. Its app acts like a real secure wallet to store your cryptocurrencies.
The app does come with a triple authentication system (3FA) as well as a biometric connection. Only you will be able to access your wallet. ZenGo is a very good alternative because, unlike Binance, you will have full control over your cryptocurrencies, even if they are stored in its application. All this has also been repeatedly audited by specialized companies.
In addition, you can backup your wallet in a few clicks. You will not have the slightest problem connecting it to another phone or restoring it in case of any problems.
ZenGo also: the ability to earn interest on your cryptocurrencies, buy and exchange over 30 cryptocurrencies, use your wallet to trade NFTs, or even take advantage of decentralized finance protocols (via WalletConnect).
For all these reasons, ZenGo seems like a worth considering alternative to Binance. Oh, and we almost forgot, when you first buy cryptocurrency through his app, you can get $10 in Bitcoin as cashback. The only condition to benefit from it is to make purchases in excess of $200 (one or more times).
More about ZenGo:
- Number of cryptocurrencies available: 30+
- Commissions: 1.99% for buying and selling (via bank transfer)
- Website: www.zengo.com
And you, what is your favorite alternative to Binance?