Binance alternatives
Compare the best alternatives to Binance for Australian crypto traders.
By Andrew Boyd | Verified by David Boyd | Updated 13th September 2021
Comparing Binance alternatives
On Swyftx's website
Highlights
- Buy and sell hundreds of cryptocurrency coins, assets, tokens and digital currencies. Binance has a larger range.
- Has a demo account feature, which is not available in Binance.
- Aussie-owned and developed making it much easier to comply with ATO regulations compared to Binance.
On eToro's website
Highlights
- Take advantage of eToro's CopyPortfolios, a combination of cryptocurrency trading and traditional fiat trades, which is not available in Binance.
- Stands out as one of the few platforms that offer users the ability to purchase crypto currencies via PayPal in combination with various other payment options.
- Extremely safe track record as a platform and highly regulated, whereas Binance has come under the scrutiny of regulators in several countries.
Coinbase
Highlights
- Ranked as one of the top crypto exchanges in the world by traffic, liquidity, and trading volumes.
- Provides institutional cryptocurrency storage, a cryptocurrency payments network for companies, and its own cryptocurrency, USD Coin (USDC), which is a stable cryptocurrency pegged to the US dollar.
- Trade on Coinbase or Coinbase Pro, a premium service that offers the ability to perform crypto-to-crypto transfers and other sophisticated trades.
- Binance is known for their responsive customer service, including via live chat and Twitter. Coinbase is not as competitive in this regard.
Highlights
- A respected Aussie-owned exchange with an easy-to-use interface.
- If you are an OTC and SMSF investor, you can buy or sell Bitcoin instantly, or trade in the open market to speculate and earn possible gains with competitive trading costs.
- Deposit funds via bank transfer using POLi payments, PayID, BPAY and direct deposit, but not credit and debit cards like you can with Binance.
- Offers AUD as the only fiat currency. Binance supports AUD and many other currencies.
Highlights
- Trade digital assets against fiat currencies such as AUD, USD, NZD and SGD, including stable coins, altcoins and DeFi tokens.
- Insures against the theft or loss of any cryptocurrency held in an Independent Reserve trading account provided by British insurance company (Lloyd’s).
- Lacks an app unlike Binance, whose app is available for iOS and Android.
Kraken
Highlights
- An excellent alternative for both new and seasoned cryptocurrency investors looking for top-notch security, cheap trading fees, and a wide selection of tradable cryptos.
- If you are an advanced investor, you can trade with margin on Kraken, plus use stop orders and crypto short sales.
- Withdraw and transact with SWIFT, SEPA, domestic, and wire transfers (SWIFT transfers are not available in Binance).
Highlights
- Much fewer options for trading compared to Binance, which is a market leader.
- Coinjar is known for making crypto easy, even for beginners thanks to innovations such as a crypto debit card and crypto EFTPOS card.
- Deposit funds using a credit card or debit card (Visa and Mastercard) to buy crypto.
Highlights
- Crypto trading on Cointree is easy thanks to a clean interface and readily available customer service.
- Deposit AUD and convert into digital assets such as Bitcoin, Ethereum and altcoins in Australia.
- Fund you Cointree account with a bank transfer, paying cash in an Australian bank branch, and POLi Payments.
Gemini Exchange
Highlights
- Gemini doesn’t have as many tradable assets compared to Binance, which is about as good as you can get in terms of trading pairs.
- Considered safe as a Limited Liability Trust Company under New York Banking law.
- Directly trade between buyers and sellers through the Gemini Clearing portal (peer-to-peer trading).
