Here are The Best Binance Alternatives in 2023

In this article, the editors have put together a list of Binance alternatives that have similar features and can be used instead. We’re sure you’ll find something that works for you among them. As of March 2022, the information about crypto exchanges is up to date.

What is Wrong with the Binance Exchange?

Even though Binance is the most popular and liquid exchange in the world, it does have some problems. If they are important to the user, he or she will look for similar platforms that can do the same things but in a more convenient way.

Binance’s popularity is well-deserved, since the platform is always getting better and changing, giving users a wide range of options for trading cryptocurrencies and making passive income. But there are a few things that make people want to trade on other platforms:

• Issues with regulators. In 2021, the company had to deal with a lot of complaints from government officials in Poland, Japan, Canada, Thailand, and the United Kingdom. These officials said that activities in these countries were being done without the right licenses.
• Taking away the ability to pay. Because of the Russian invasion to Ukraine, Russians were no longer able to work in 2022. But not only Binance was hurt by this, but so were other foreign companies. But even before that, the ways to add and take money from the exchange were not stable; they were turned off and on at random times.

Also, a beginner might find the exchange hard to understand because there are so many functions (there are already dozens). If a person just wants to buy bitcoin, for example, he doesn’t know what to do because there are so many ways to do it: classic and advanced trading, swaps, derivatives, deposits, loans. In this case, having a lot of features is a bad thing, because a new player is afraid to click in the wrong place and lose money.

5 Best Binance Alternatives for 2023

1) Bybit

2018 was the first year.

Every day, 607,316,248 dollars are traded (spot market)

164 cryptocurrencies are accepted.

Exchange: bybit.com

Almost as soon as it came out, the Bybit platform became one of the most popular places to trade derivative contracts (futures) for cryptocurrencies, and it still is. But the company also opened a spot market not too long ago, which is also very useful and easy to use.

2) Money.com

2019 was the first year.

Volume of trades per day: $677,357,999

54 cryptocurrencies are accepted.

Exchange: currency.com

A platform that is regulated by the government of Belarus and has all the features needed to trade not only cryptocurrencies but also other tokenized assets. All of the major coins are supported, you can trade with leverage, and you can add and take out money using cards and bank accounts.

3) MEXC Global

2018 was the first year.

Volume of trades per day: $3,646,876,840

1261 cryptocurrencies are accepted.

Exchange: mexc.com

There are many ways to trade and invest on this platform, which is a good alternative to Binance. There is support for spot trading, futures trading, leveraged ETFs, and index ETFs. There are tournaments where people trade futures for big prizes. You can make money on DeFi through voting, auctions, and other things.

4) Bitrue

2018 was the first year.

Volume of trades per day: $2,923,152,336

489 cryptocurrencies are accepted.

Exchange: bitrue.com

Bitrue is an exchange that gives cryptocurrency depositors a lot of ways to make passive income. You can get secured crypto loans, which let you get the assets you need without having to sell your cryptocurrency. The exchange is easy to use and has a simple password. You can make transactions for as little as $10.

5) FTX

2019 was the first year.

Volume of trades per day: $2,429,075,556

337 cryptocurrencies are accepted.

Exchange: ftx.com

A place where you can trade spots, futures, and tokens using leverage. People who own FTT tokens can use advanced features and have a say in some exchange decisions, such as voting on whether or not to list new tokens. There is a platform called IEO where blockchain projects can sell tokens.

The Bottom Line

There are many exchanges like Binance that you can use to trade, invest in, and do other things that are important to the crypto industry. Even if you are using Binance well, you should be aware of them because things change quickly and, for political reasons, an account could be blocked or something else bad could happen.

Also, you don’t have to use just one site to do everything. It’s possible that Binance is a better fit for one and a rival platform for another. Don’t put yourself in a box, and most importantly, choose exchanges that you can trust.