That click that just brought you here could very well be your best click of the day assuming you are currently searching for the best Binance alternatives available in 2025.
Because, we’re about to have a quick look at some of the top cryptocurrency exchanges out there including the best Binance alternatives in the U.S., best Binance alternatives for futures trading, best Binance alternatives for margin trading, and best privacy-focused Binance alternatives that don’t require KYC verification.
Why Switch From Binance?
Despite its widely acclaimed stature as one of the top cryptocurrency exchanges around, Binance is having its fair share of performance issues of late. Be it due to unexpected Tether chain swaps or some other factor, the point is that you can not just cling on to the numero uno position if a good chunk of your user base has to feel discontented so frequently.
The recent outage, however, was just the tip of the proverbial iceberg. For example, recently Binance delisted all FTX leveraged tokens — apparently, to protect users. Of course, not everyone was pleased by the move and other exchanges rushed in to fill the void left behind.
The point, again, is — with so many credible alternatives around, what’s the point of sticking to a platform you have issues with anyway?
On that note, we’re going to have a quick look at some of the best Binance alternatives in 2025 that you should seriously consider if you’re planning on switching exchanges any time soon.
1) Bybit
SponsoredNot as familiar a name as, say Binance or Coinbase, Bybit surely knows its way around traders interested in perpetual futures contracts. The platform serves as a handy alternative for anyone who likes Binance’s perpetual futures contracts, but with the added flavor of extreme liquidity that you would normally find in BitMEX.
One interesting thing about Bybit is that it has deliberately kept things simple and currently offers futures contracts just for BTC, ETH, EOS, and XRP. You can go for BTC/USD perpetual contracts with up to 100x leverage, whereas the ETH, EOS, and XRP perpetual contracts offer a maximum of 50x leverage.
- Supported cryptocurrencies: BTC, ETH, EOS, XRP.
- Fees: Maker and taker fees are fixed at 0.25% and 0.75% respectively. You may have to spend an extra 0.0005 BTC while withdrawing funds from your account.
Perhaps the best thing about Bybit is that leverage is freely adjustable on the platform. That means you can change it even after opening a position. Most of the company’s competitors don’t offer this feature.
Another impressive feat would be that Bybit is currently among the top 10 largest cryptocurrency derivative exchanges by trade volume. So, high liquidity is another metric that the exchange can be proud of.
Pros of Bybit
- Leverage: Up to 100x leverage. Leverage is freely adjustable.
- Liquidity: Bybit offers high liquidity which is comparable to that of BitMex. The BTC/USD perpetual contracts offered by the exchange regularly witness a daily trading volume of more than $1 billion.
- Liquidation protection: A three-pronged mechanism to reduce the risk of liquidation.
- Privacy: Like StormGain, Bybit traders also don’t require to undergo KYC verification.
- Low fees: Only 0.0005 BTC in withdrawal fee (read: miner/network fee) which is 40% less than the industry average.
- Testnet: Just like StormGain, Bybit offers a testnet (read: demo account) for practice.
Cons of Bybit
- The limited number of cryptocurrencies can be a turn off for some.
- While there is a testnet/demo account, it comes with a relatively low fund.
- No Option Instruments.
- Bybit imposes geographical restrictions citing regulatory complications. For example, the exchange is currently not available for US-based traders.
2) StormGain
StormGain is a relatively new, but fast-growing cryptocurrency exchange offering a wide range of trading options to choose from. Requiring only an email to sign up, it is a perfect alternative for anyone looking to switch from Binance’s futures trading platform.
It is one of the few credible platforms out there today that offers multipliers up to x200, meaning for every $1 you have in your account, you can place a trade worth up to $200.
You get to choose from an array of different cryptocurrency futures products including perpetual contracts for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and XRP. These are all tradeable with a minimum of 50x leverage.
Another major advantage is that unlike most of its peers, StormGain enables you to add balance directly into your account using your debit or credit card. You also get 24×7 customer support.
- Supported cryptocurrencies: BTC, ETH, LTC, XRP, BCH, USDT
- Fees: The platform also has one of the simplest and lowest fee schedules we have seen, charging an average of just 0.15 percent commission for trades with a fixed swap rate as of this writing.
Now, let’s have a quick look at some of the pros and cons of switching to StormGain as one of the top Binance alternatives for futures trading and spot trading.
Pros of StormGain
- High Leverage: Multipliers up to 200x.
- No KYC verification: StormGain makes it easier for more privacy-focused traders to get into business with just their email — no KYC verification needed.
- Transparency: With StormGain, you get access to real-time trade data that includes all key details such as transaction time, type, the cryptocurrency traded, country, and so on.
- Demo accounts: You could always take advantage of StormGain’s demo accounts to warm up and get a feel of the platform before jumping into the real business.
- Speedy execution: StormGain has an outstanding reputation among users for its speedy executions of trades.
- Risk Management: For starters, StormGain frequently updates users with the latest trading signals throughout the day. It also has an array of basic and advanced risk management tools for risk mitigation.
Additionally, you also earn interest on your deposits alongside a pretty useful loyalty program.
Cons of StormGain
- StormGain is currently unregulated, although it assures users that it has a competent legal team to ensure full transparency and compliance with local laws.
- The exchange doesn’t support crypto-to-fiat conversions, which means you can’t withdraw USD or any other fiat from your account.
- For some, the user interface might take some time to get used to.
3) Kraken
Founded in 2011 and officially launched a couple of years later, Kraken is among the top cryptocurrency exchanges today so far as brand recognition and loyalty go. It is also perceived as among the most reliable platforms for trading digital assets because of its relatively neat track record on the security front.
Sponsored SponsoredThe company claims to have 95% of all deposits in offline, air-gapped, and geographically distributed cold storage. User accounts are protected by various security features including 2FA, email confirmation for withdrawals, no SMS/phone account recovery, and global settings time lock, just to name a few.
- Supported cryptocurrencies: BTC, BCH, DASH, ETH, ETC, EOS, GNO, ICN, LTC, MLN, REP, XDG, USDT, XLM, XMR, XRP, and ZEC.
- Fees: Maker and taker fees are fixed at 0.16% and 0.26% respectively.
Kraken is definitely one of the best Binance alternatives for margin trading. With leverage up to 5x and a rollover fee of 0.02% per four hours, Kraken’s pro trading interface has everything you need to manage your positions efficiently.
Kraken is also a pretty practical choice if you plan on trading cryptocurrencies on fiat and crypto pairs.
Pros of Kraken
- Security: One of the top cryptocurrency exchanges on the security front — high digital and financial security.
- Availability: Kraken imposes no geographical restrictions on users.
- Cryptocurrency support: A relatively higher number of digital assets are available on the platform.
- Fiat support: Users can deposit and withdraw funds in USD, EUR, GBP, CAD, JPY, and CHF.
- 50x leverage in futures: Up to 50x leverage on BTC, ETH, LTC, BCH, and XRP futures contracts.
Cons of Kraken
- Limited funding options: Kraken doesn’t support debit/credit cards and e-payments processors.
- Customer support: While not the worst, Kraken has definitely a lot of room to improve its customer support desk.
- Deposits and verification can sometimes take longer than anticipated.
- Not the best platform if you’re looking for a highly privacy-focused platform such as StormGain.
By the way, Kraken is right there in the top league among the most popular Binance alternatives in the US.
4) Coinbase
With a strong brand value and presence across 42 countries, Coinbase is right there at the top of the crypto exchange hierarchy along with Binance. It is also a very popular Binance alternative in the US.
Coinbase lists up to 15 cryptocurrencies for direct buying and selling using fiat. The corresponding number is slightly less at 9 – 11 for Coinbase Pro.
- Supported cryptocurrencies: BAT, BTC, BCH, DAI, EOS, ETH, ETC, LINK, LTC, REP, USDC, XLM, XRP, ZEC, and ZRX. The list may slightly vary depending on the jurisdiction you’re from.
- Fees: Coinbase has a slightly complicated fee structure for buying and selling. There’s a 0.5% spread — roughly speaking — depending on market conditions. That means you’ll be paying 0.5% extra on top of the actual market price while buying and receiving 0.5% less while selling. You may have to pay an additional Coinbase fee on your transactions.
In terms of security, Coinbase ranks among the top with 98% of all the digital assets in its possession stored in secure, offline cold storage. There are various security measures in place including “client vaults (optional), 2FA, offline storage for client data, encrypted hard drives, and rigorous employee background verification.
Not just that, all the digital assets stored on Coinbase servers have insurance protection.
Pros of Coinbase
- Security: Coinbase is among the most secured cryptocurrency exchanges around today.
- Payment options: Coinbase offers an array of payment options including bank transfers, wire transfers, PayPal, and credit cards, just to name a few.
- Low fees on fiat deposit and withdrawals: The service is practically free for traders in several markets including the US, the UK, and parts of the EU.
- Customer Support: One of the primary reasons behind Coinbase’s rise to the top can be attributed to its timely and responsive help desk.
Cons of Coinbase
- Coinbase’s brand value and high security come at a cost. It has some of the highest and most complicated spreads for crypto-to-crypto and fiat-to-crypto transactions.
- The platform’s rigorous verification and security measures can be somewhat discouraging for many users.
- Coinbase is not the best platform for you if you’re interested in trading less popular coins.
5) Bitfinex
The massive popularity of Hong Kong-based Bitfinex can be gauged by its daily trade volume which is among the highest in the world. The exchange offers a full range of features for more experienced traders including advanced order types, a large number of crypto and fiat pairs, and margin trading.
In fact, it is currently one of the top Binance alternatives for margin trading. Users can trade with up to 5x leverage through its native, peer-to-peer margin funding service.
You can fund your Bitfinex account using cryptocurrencies or a select few fiats such as the USD, EUR, GBP, and JPY. Bitfinex claims to have only 0.5% of its crypto assets in hot wallets, meaning the other 99.5% is stored in offline, cold storage.
- Supported cryptocurrencies: BTC, BCH, BTG, DASH, EOS, ETC, ETH, FUN, LTC, NEO, OMG, QTUM, REP, USDT, XLM, XMR, XRP, and ZEC, among others.
- Fees: 0.1% and 0.2% for maker and taker fees respectively.
In Aug 2016, Bitfinex fell victim to a major hack attack, following which the company has tightened its security to a whole new level — so much so that the level of privacy you can realistically expect from Bitfinex is very vague now.
Pros of Bitfinex
- Fees: You don’t have to worry about high trading or withdrawal fees.
- Brand value: Bitfinex is a relatively old and established player in the scene.
- Good ethics: The exchange refunded all users affected by the Aug 2016 security breach.
- High liquidity: You can easily buy and sell your assets on Bitfinex owing to its high traffic and liquidity.
- Multiple order types: Experienced users can choose from multiple order types.
Cons of Bitfinex
- Bitfinex is mired in some serious controversies including the one surrounding its ties with Tether.
- Bitfinex doesn’t offer as much transparency as some of the other exchanges in this article.
- It is hard to accurately gauge the level of privacy on offer.
6) Deribit
Just as the moniker suggests, Deribit is a cryptocurrency derivative exchange offering a wide range of trading options that include options and futures trading. It is a pretty attractive destination for leveraged trading with up to 10x leverage. Users can also do margin trading and deal in Bitcoin futures with up to 100x leverage.
It also offers testnet where users can practice trading with a demo fund worth up to 10BTC.
- Trading options: Futures, options, and perpetual contracts for BTC and ETH
- Fees: Maker rebate for futures, options, and perpetual contacts are 0.02%, 0.04%, and 0.025% respectively. Meanwhile, the taker fee is capped at 0.075%, 12.5%, and 0.075% for futures, options, and perpetual contracts. The maker rebate for ETH perpetual and futures contracts is 0.0%.
Deribit doesn’t have a strict user verification process unlike most of its rivals. As for security, it claims to have 99% of its assets in cold storage along with an array of advanced security features. The exchange brags that it has a neat track record of “0 customer funds lost” since its launch in 2014.
Pros of Deribit
- Trust factor: Deribit is hands down one of the most trusted platforms for BTC and ETH perpetual, futures, and options trading.
- High leverage: Up to 100x leverage on BTC futures contracts.
- Low fees: Competitive trading fees and no charges on deposits and withdrawals.
- Security: High financial security with real-time auditing, efficient liquidation mechanism, and a reliable risk management strategy.
- Transparency: Because of the nature of its offerings, Deribit seems committed to maintaining a good reputation with regulatory bodies by maintaining a higher degree of transparency.
Cons of Deribit
Sponsored Sponsored- Deribit is not a very user-friendly platform for beginners.
- No fiat support.
- Almost all account activities are in BTC.
7) KuCoin
KuCoin is a relatively new entrant to the cryptocurrency market, having been around only since 2017. However, that has no way deterred the platform’s ambitious goal of establishing itself as a credible Binance alternative.
Like most of its peers, Hong Kong-based KuCoin is also outside the realm of any regulatory framework. But with a sound technological infrastructure and a committed team behind it, the exchange has fast progressed on the scale of reliability and trustworthiness.
Its proprietary web-based trading platform is user-friendly and comes equipped with a range of trading and analysis tools.
- Supported cryptocurrencies: KuCoin supports almost all commonly traded digital assets including Kucoin lists all the major cryptocurrencies including ACT, BTC, BCH, BTG, CAT, DASH, ELF, EOS, ETC, ETH, FOTA, LTC, NEO, OMG, PURA, TEL, TTY, QTUM, XMR, and XRP, to name a few.
- Fees: No deposit charges, but KuCoin levies a small withdrawal fee that differs per cryptocurrency. As for trading fees, KuCoin charges only 0.1% on its 400+ altcoin trading pairs.
To boost liquidity, KuCoin also introduced USD deposits and withdrawals last year in June. The platform launched the beta of its derivative trading platform in July 2019. Dubbed KuMEX, this independent entity offers leveraged positions of up to 100x.
Pros of KuCoin
- Brand value: A familiar and trusted alternative to Binance and other top exchanges.
- Low fees: KuCoin has a fully transparent fee structure that goes really easy on users’ wallets.
- Trading options: KuCoin offers a wide range of trading pairs to choose from — over 400, to be precise.
- Ease-of-use: It has one of the easiest user-interfaces among all its competitors.
Cons of KuCoin
Sponsored Sponsored- No fiat trading pairs.
- Not very privacy-focused as compared to, say StormGain or ByBit.
- No native option for margin trading (KuMEX is a separate entity).
Conclusion
So, that was in brief about some of the best Binance alternatives in 2020 that you should seriously consider if you are planning a switch. Of course, a few other exchanges would have made it to this list as well — but we have deliberately kept it short and to-the-point to avoid redundancy.
As always, BeInCrypto expects you to carefully assess the risk factors associated with each of these exchanges and consult a professional financial expert if need be.
Meanwhile, for any questions or feedback, don’t hesitate to reach out using any of our social media channels over at Twitter, Facebook, and Instagram.
