Best Binance Alternatives – Top Altcoin Trading Exchanges in 2020.
Binance is not just another random altcoin exchange, it’s a platform that has the absolute volume dominance over the altcoin market. And is one of the fastest-growing companies in the whole world. Here we are gonna look some of the best Binance alternatives, to diversify your portfolio and to access more pairs when trading altcoins.
1. KuCoin – very similar to Binance but lacking volume.
2. Gate.io – has it all from margin trading to hundreds of altcoins to choose from.
3. Bittrex – old and known stable platform that has never been hacked.
4. Poloniex – used to be the king before Binance, and therefore still a good choice.
Kucoin is our #1 choice when it comes to Binance alternatives because the interface is very similar and the platform is just as functional. They as well offer hundreds of coins to trade and option to seamlessly purchase cryptocurrencies through your credit card.
Kucoin similar to Binance allows you to withdraw up to 2 BTC daily without KYC documents whatsoever giving you the possibility to stay sovereign with your valuable pieces of information.
All in all, this is a top-notch second exchange for all of those who value their privacy and want to keep trading altcoins using Bitcoins.
Gate.io is actually quite an underdog since this exchange is one of the best-performing ones when it comes to the large variety of tools and options. The exchange has hundreds of coins you can trade, and they also offer the ability to use margin for multiple cryptocurrencies. On top of this, they offer different lending programs such as HODL & Earn which will let you lend your coins for an interest.
Gate.io is an exchange that has a lot of possibilities and potential, the registration is simple and fast however, the downside is that they do require KYC documents to fully operate.
Bittrex is one of the oldest US-based exchanges that can proudly say they have never been hacked. However, they’ve been introducing upgrades that constantly reflect negatively towards the community making the platform less useable every time. These upgrades are mainly interface based and don’t affect the trading engine itself which is still working well. All in all stable, and great platform choice to pick certain coins.
Bittrex provides an easy and straightforward registration process, but to withdraw you will be required to hand over some KYC documents.
Poloniex used to be the King of altcoin trading back in the day before Binance took over them. Hoverwer this exchange has been stable and around for a long time making them still an excellent choice for trading a large variety of different coins. Poloniex is based in the US and therefore is an option for American citizens. They also offer margin for a few chosen coins including ETH, XRP, LTC, and DOGE.
Poloniex has a great interface and trading engine and it’s no wonder this exchange used to dominate the scene back in the day. The main downside of Poloniex is the fact they nowadays do require KYC documents.
Related & Notes
The main reason we are listing Kucoin higher in rank is that they do not require KYC documents. Other than that, all exchanges listed here are all very similar in functionality, volumes, and operations making them all viable solutions.
We actually suggest you have accounts diversified for as many exchanges and trading pairs possible since it’s never safe to trust just one exchange over many.
That being said, Binance is still an absolute King when it comes to altcoin trading volumes. They also allow withdrawing up to 2BTC per day without the need to provide KYC documents. And, therefore it should be your #1 place to go for most cryptocurrencies.
That being said, if you are new to trading you gotta read our crypto trading manual, as we’ve put all of our information on this article making it the ultimate traders guide.
More Binance alternatives:
To learn more about trading & exchanges, check our articles:
- Best Crypto Exchanges For Trading, Buying & Selling in 2020
- The Crypto Trading Manual – The Ultimate Trader’s Guide!
- How to Trade Traditional Markets with Bitcoin (Best Crypto Brokers)
Reminder: Never leave your coins in the exchange. “Not your private keys, not your coins!”