4 Coinbase Alternatives For Buying & Selling Bitcoin in 2020

4 Coinbase Alternatives For Buying & Selling Bitcoin in 2020

In this post, I’m going to show you exactly the 4 Coinbase alternatives for buying and selling bitcoin in 2020.

In fact, these are some of the exchanges that I use for buying and selling my bitcoin safely.

So, if you want Coinbase alternatives for buying and selling bitcoin, then you’ll love this new tutorial.

Let’s dive right in…

#1. CEX.IO

CEX.io is one of the oldest bitcoin exchanges that supplies both a trading platform and brokerage services for Bitcoin, Ethereum, and a range of other cryptocurrencies.

CEX.IO

The platform enables you to buy or sell bitcoin with credit or debit card, Skrill, and bank transfers.

Limits & Liquidity

CEX.IO offers five different account levels based on your verification.

Each account type has different buying limits.

Intro: Make deposits totaling $100 for the account lifetime, withdrawals - up to $100 daily.

Identity: Level up your daily limits: deposits — up to $3,000.00, withdrawals — up to $10,000.00.

Address: Unlock bank transfers and get advanced daily limits: deposits — up to $10,000.00, withdrawals — up to $50,000.00.

Enhanced: Benefit from unlimited deposits and withdrawals to your account with high turnover. Get priority support.

Corporate: Use a corporate account for your enterprise and enjoy custom conditions.

Privacy and Speed

CEX.IO requires very little information for its first tier of verification.

CEX.IO privacy

After initial verification, CEX.IO processes most credit card purchases instantly.

In order to increase limits, however, a number of personal details and document scans are required.

Reputation

CEX.IO is a registered company and/or money transmitter in all districts in which it operates.

CEX.IO reputation

In the USA, it is registered with FinCEN, and registered with ICO in the UK and EU.

Fees

Fees for buying cryptocurrency with a credit card are 2.99% per purchase.

Also, fees for buying with skrill is 3.99%, while purchases made via bank transfer are free.

Withdrawal fees can range from 1% - 3.5% + $1.20 up to $3.80 commission.

Pros

  • Established company reputation
  • Easy buying process
  • Fast support
  • Advanced trading options

Cons

  • Extensive verification process to increase buying limits
  • Relatively high fees

#2. Paybis

Paybis is a cryptocurrency exchange platform founded in 2014.

Paybis

The exchange allows the purchases of Bitcoin, Ethereum, Litecoin, XRP, and many other cryptocurrencies.

Setting up an account on Paybis is easy and fast.

The platform offers one of the fastest services to buy or sell bitcoin with credit or debit card, bank account, Skrill, Neteller, Payeer, and Advanced Cash.

Limits & Liquidity

Paybis have the fastest ID verification process on the market.

The exchange requires users to go through a verification process in order to prevent fraud attempts and follow AML policies.

This is to protect customer funds from unauthorized usage and to prevent money laundering and cyber terrorism.

The good news is that the verification process is straightforward and, on average, it only takes 3 minutes to complete.

You simply need to upload your government ID (passport, ID card, or driving license) in good quality to ensure that the automated system can process and approve it.

To get full access for all types of currencies you’ll definitely need to verify your account.

In some specific cases, you can complete your exchange without a verified account.

Paybis

For Visa/MasterCard credit/debit cards, limits are USD 20,000/50,000 per week/month.

For other digital wallet payments like Advanced Cash, Payeer, and others, Paybis allow up to USD/EUR 500,000 per week.

With Bank Transfers EUR/USD/RUB they allow up to USD 200,000 of purchases per week or equivalent in other currencies.

Privacy and Speed

The cryptocurrency platform aims to be a fast and responsive Bitcoin exchange.

Paybis respect user’s privacy by securing users information on their servers that are not connected to the public web.

Reputation

Paybis is very proud of its online reputation, particularly TrustPilot where it maintains a ‘near-perfect’ score from over 6000 reviews.

Paybis Reputation

The support team is very active across the web including Bitcoin related Reddit threads and an exclusive Paybis subreddit.

Fees

To purchase Bitcoin on Paybis, you will have to pay 3 types of fees:

A credit/debit card fee - This is a fee that the payment service takes from Paybis for processing your payment.

Paybis fee - This is a fee that is taken for providing the service.

Bitcoin network fee - This is a fee that Paybis pays to deliver your Bitcoin.

All transactions that happen on Bitcoin's blockchain are charged a fee that miners receive for confirming your transaction.

Pros

  • Easy user interface
  • Easy buying process
  • Fast support
  • Great online reputation
  • Regulated

Cons

  • Relatively high fees

#3. Coinmama

Coinmama is a digital financial service company operating in the cryptosphere since 2013.

The cryptocurrency exchange is registered in Slovakia but is owned by New Bit Ventures Limited that is headquartered in Israel.

Coinmama

Operating in 188 countries worldwide, and available in 24 US States.

The platform enables users to purchase Bitcoin and Ethereum using credit or debit cards.

However, Coinmama does not provide a platform for trading in cryptocurrencies nor does it allow users to sell cryptocurrency.

Instead, all purchases of cryptocurrency by customers are transferred directly from the company’s own holdings, making transactions more secure than some of its competitors.

If you need a simple, intuitive platform with good customer service to buy bitcoin on then Coinmama may be the perfect fit.

They have a good safety record and have been around for 7 years which is a long time in the cryptocurrency ecosystem.

Limits & Liquidity

To purchase bitcoin on Coinmama, you need to get your account verified.

Coinmama limits

You will need to be a resident of and have a valid identification card (ID) from a country or US state Coinmama operates in.

For standard verification, you need to upload a high-quality photo of either your international passport, national ID card, or driver’s license.

Your documents will then be reviewed by their compliance department.

Once approved, you can buy bitcoin, ethereum and other cryptocurrencies on Coinmama.

Level 1 (limit up to USD 15,000)

Level 2 (limit up to USD 50,000)

Level 3 (limit up to USD 100,000)

Privacy and Speed

Coinmama stands out as one of the fastest and easiest ways to buy Bitcoin or Ethereum with a credit or debit card,and has now expanded to cover Litecoin, Cardano, QTUM, Ethereum Classic, Bitcoin Cash and Ripple XRP.

Reputation

Coinmama is a bitcoin broker based in Israel.

The exchange is one of the more established cryptocurrency platforms in the blockchain space.

The cryptocurrency exchange specializes in selling bitcoins with credit cards to nearly anyone in the world.

Coinmama Reputation

They have an experienced team and largely cater to a European clientele.

Coinmama has gained a lot of respect in this space, owing to the safe and fast access to digital currencies like Bitcoin and Ethereum.

Fees

Coinmama charges a 5.9% fee, which is included in the transaction price.

Deposits by bank transfer are free.

A 5% processing fee is added to credit/debit card payments.

Case studies carried out by commentators have suggested that users should add an additional 10% in fees when transacting through Coinmama.

Pros

  • Available in 188 countries
  • Great UI
  • Fast delivery
  • Great support

Cons

  • Relatively high fees

#4. Gemini

Gemini Trust Company LLC (Gemini), is a digital currency exchange and custodian that allows customers to buy, sell, and store digital assets.

Based in New York, Gemini Exchange is aptly named after its two founders, the Winklevoss twins.

Gemini

Gemini is available to customers in a total of 49 U.S. states, Washington D.C., Puerto Rico, Australia, Canada, Hong Kong, Singapore, South Korea, and the United Kingdom.

The Company took an alternative route to most other exchanges in jumping through regulatory hoops by applying for status as a New York State limited liability Trust rather than a Bit Licence.

This gives the exchange the ability to deal both with institutional clients and individuals.

Gemini Marketplace

The founders have also announced their intention to allow access to other alternative crypto markets as and when they warrant it.

So,if you are looking for a place to buy bitcoin with confidence, then you will not go wrong by using Gemini exchange.

Limits & Liquidity

Once you create an account on the exchange you will need to setup 2-factor authentication, verify your bank account, and verify your identity.

Once approved, you can purchase bitcoin on gemini.

For individual accounts, the deposit limit ranges between $500- $15,000 while withdrawal limit is $100,000 per day.

Gemini Limits & Liquidity

Also, for Institutional accounts, deposit limit is between $10,000 - $300,000 while withdrawal is up to $100,000 per day.

Privacy and Speed

Gemini customer support is relatively generic for a bitcoin exchange.

Specific inquiries are dealt with via email.

I read about the quick response times of the customer service team, so I sent an inquiry to check it out myself.

I received a reply within a couple of hours, which is really pleasing.

Reputation

The well-known names behind the Gemini exchange really do give it an air of authenticity.

Since the Winklevoss twins have very publicly pushed the business and built regulations, they’ve won people’s trust.

Most exchange users see Gemini as one of the legit platforms for buying and selling bitcoin in 2020.

Hence, making Gemini exchange a secure platform to trade bitcoin and other digital currency.

Fees

Gemini offers a variety of fee schedules depending on product & usage level.

A 0.5% “convenience fee” applies to all transactions.

These transaction fees apply when placing a cryptocurrency buy or sell order through the Gemini website or mobile app.

Pros

  • Trustworthy
  • Comfortable transaction fees
  • Quick support

Cons

  • US Residents and few selected countries
  • Small selection of coin

Anything I Missed?

Did I miss anything?

Let me know.

Was your favorite Coinbase alternative sites for buying and selling bitcoin not included here?

Leave a comment below and I’ll add it ASAP.

 

Author Bio

Amaechi Patrick is a writer and content marketer for Uranuscrypto.com, who loves sharing his knowledge and experience in digital marketing, personal development, and cryptocurrency education.

Twitter: https://twitter.com/expatunes

Publication date: 
06/24/2020 - 20:30
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.