Best Crypto Exchanges in the USA – Top 7 Bitcoin Exchanges
Cryptocurrency exchanges are places where you can buy, sell or convert an existing cryptocurrencies into a different one. In this article we are going to discuss the best exchanges to buy crypto in the USA.
There are a lot of cryptocurrency exchanges and wallets to choose from if you are starting to think about investing and it might be confusing to narrow down to one, or if you have already invested in crypto and is looking to change to a better exchange, then look no further; this article dives deep into the best crypto exchanges in the USA, their advantages and disadvantages.
Best Crypto Exchanges in the USA: My best Picks
Following are the best USA based cryptocurrency platforms to buy Bitcoin and altcoins from:
Binance.US – Best Crypto Exchange in the USA with Lowest Trading Fees
Binance is one among the best crypto exchanges in the world that allows you to buy Bitcoin with Visa card. Although its trading possibilities are more constrained in the United States, it provides comparatively low trading costs and a large range of cryptocurrencies for trade abroad.
Why should you use Binance to buy Crypto in the US?
Let us first discuss the merits of Binance.US cryptocurrency platform and why you should prefer Binance to buy any cryptocurrency in the states.
- Trade execution: Binance is known for its quick trade executions. Not many users know the importance of it. Crypto is a very volatile market, and some projects might crash. It is very important to have a reliable and fast trade execution platform where it can handle a lot of requests in a short burst of time.
- Low fees: Binance offers 0.1% trading fees, which is very less when compared to many other top crypto exchanges in the US.
- Crypto to crypto trading pairs: There are nearly 60 crypto to crypto trading pairs in Binance. The trading pairs include Bitcoin and nine other crypto currencies: Bitcoin Cash (BCH), Cardano (ADA), Ethereum (ETH), Binance Coin (BNB), Chainlink (LINK), VeChain (VET), Uniswap (UNI), Litecoin (LTC) and Tezos (XTZ).
- Minimum trade: $10 is the minimum trade for Binance.US
- Transaction and trading fees: Binance.US charges a flat of 0.1% for the spot trading fee, which in comparison is a lot competitive to other big exchanges in the US. Binance also offers a 0.5% trading fee for traders who want to buy or sell instantly.
- Number of cryptocurrencies: Binance offers a variety of well established cryptocurrencies, including Bitcoin, Ethereum, XRP, Cardano, Solana, Polygon, Avalanche, Dogecoin, Shib and much more.
What you may not like about Binance.US Crypto exchange?
Some of the drawbacks of Binance.US crypto platform:
- Accessibility: Binance.US is not available in all the 50 states in the US.
- Regulatory problems: The global company Binance has run into some regulatory and controversial issues in some countries. The company also moved bases from China to Japan in 2020.
- Customer support: Email is the only way to contact Binance.
Is Binance the right cryptocurrency exchange for you in the USA?
With one of the lowest trading fees among the best US cryptocurrency exchanges, Binance.US offers a large selection of cryptocurrencies. The popular international site’s trading interface is the same as the American website, however there aren’t as many cryptocurrencies and crypto-to-crypto trading pairings available.
Coinbase – Best Cryptocurrency Exchange in the US for Beginners
Coinbase is the mostly used crypto exchange in the US. It makes buying Bitcoin so easy and simple, it looks like you’re buying shares. But look out for the trading and transaction fees.
Why should you use Coinbase to buy Crypto in the USA?
Let us discuss the advantages of Coinbase.
- Selection: Coinbase has one of the largest collections of cryptocurrencies of over 150 currencies. They also add cryptos if enough users request it after running a background check on the project. This makes Coinbase one of the best cryptocurrency exchanges and wallets in the USA.
- Coinbase tutorials: “Earn while you learn” is a new way to learn crypto trading. Coinbase offers a variety of tutorial videos to learn from, and later quiz the users with some questions to educate the users about cryptocurrency trading.
- Minimum trade: $2 is the minimum amount required to buy cryptocurrency in Coinbase.
- Number of cryptocurrencies: Coinbase offers a variety of well established cryptocurrencies, including Bitcoin, Ethereum, XRP, Cardano, Solana, Polygon, Avalanche, Dogecoin, Shib and much more.
- Crypto to crypto trading pairs: There are more than 450 pairs of crypto to crypto trading.
- Mobile App: The Coinbase app for Android and iOS are rated highly by the users. The mobile app includes so many features as the desktop site.
- Customer Support: Coinbase offers 24/7 live phone support, which is a big boon to all the users using this exchange. It also offers emails and live chatting features to resolve any issues you are facing.
What I do not like about Coinbase crypto exchange?
Some of the cons of Coinbase:
- Transaction and trading fees: Coinbase has a relatively high transaction and trading fees among the crypto exchanges in the United States. Some users tend to get confused with its fee structure.
- On sales and purchases of cryptocurrencies, Coinbase levies a spread. Although prices might change according to changes in the market, the business has previously said that the cost is roughly 0.5%.
- Additionally, Coinbase claims that its costs vary depending on “market circumstances like volatility and liquidity,” the amount of the transaction, and the payment method that was used.
- Additionally, Coinbase levies fees to cover the price of processing transactions on the outside blockchain networks that underpin the cryptocurrencies it deals in.
Overall, these elements might make it challenging to anticipate Coinbase costs on its main platform.
Is Coinbase the right crypto trading platform in the US for you?
Coinbase is widely regarded as one of the best cryptocurrency exchanges in the United States. Although the Coinbase basic service’s interface is quick and easy to use, tracking expenses may be challenging without the more sophisticated Coinbase Pro.
Check here for the best Coinbase Alternatives 2022.
Crypto.com – Best Crypto Exchange in the USA with a lot of security
Crypto.com is the best crypto exchange if one is looking to do a lot with it. In this exchange you can invest, trade, buy and sell NFTs, hold crypto assets in the in-built web wallet and much more.
Why should you use Crypto.com to buy Bitcoin in the USA?
Let us discuss the pros of Crypto.com.
- Selection: Crypto.com has one of the largest collections of cryptocurrencies when compared to all the other crypto trading platforms in the US of over 200 currencies.
- Low fees: Crypto.com doesn’t charge its users for trading and transactions if the purchase is made from the money that the user has transferred in from his/her bank account via automated clearing house, ACH or a transaction.
- Minimum trade: $1 is the minimum amount required to buy cryptocurrency in Crypto.com.
- NFTs: Crypto.com offers a platform to buy and sell nonfungible tokens or otherwise popularly known as NFT’s.
What I do not like about Crypto.com platform?
Some of the drawbacks of Crypto.com.
- No crypto-to-crypto trading: While the crypto.com offers a wide range of selection of cryptocurrencies, it comes with a con. It lacks a very important feature that many of its rivals have, it doesn’t have crypto to crypto exchange. For example if you want to convert or buy Ethereum from bitcoin, you will have to perform two transactions; you need to sell the bitcoin first and then buy Ethereum instead of it just being a one step transaction.
- High fees for Debit and Credit cards: Crypto.com levies high transaction fees for orders created with a credit or a debit card, the charges can go upto 2.99% which is very high when in comparison to the other crypto trading platforms in the US.
- Accessibility: Some features of crypto.com are not available in the US. The Singapore based company offers most of its features and services through its mobile application, so the users intending to use it on a desktop will be out of luck. Margin trading is not offered to the U.S residents by the exchange. And the service is not available in New York.
Is Crypto.com the right cryptocurrency exchange in the USA for you?
Crypto.com features a large assortment of digital assets and charges minimal fees. Despite not supporting traditional crypto-to-crypto trading, its DeFi solutions could be of interest to expert users.
BlockFi – Best trading platform for crypto in the USA with best interest rates
With the help of BlockFi crypto exchange, investors may purchase, sell, store, loan, and profit from interest-bearing loans on digital assets. Additionally, BlockFi members may benefit from the BlockFi Rewards Credit Card to receive rewards that are paid in cryptocurrencies which is something unique when compared to other top crypto exchanges in the US.
Why should you use Blockfi to buy Crypto in the United States?
Let us discuss the advantages of BlockFi.
- Services: BlockFi gained its reputation by attempting to bring conventional banking services into the bitcoin space. BlockFi does enable individuals to use cryptocurrency as collateral for loans, a service that many competitors do not provide. However, U.S. regulators recently compelled it to limit a product that pays interest on cryptocurrency. According to BlockFi, the interest rates on its loans start at 4.5 percent APR.
- Crypto-to-crypto trading: Users of BlockFi may trade crypto assets with one another in 105 different ways which makes this one the best platform to trade cryptos in USA.
- Minimum trade: $20 is the minimum amount required to buy cryptocurrency in BlockFi.
- Customer Support: On Monday through Friday, from 9:30 a.m. to 5 p.m. Eastern time, BlockFi offers live telephone customer service. The business also provides chatbot support, which it claims will assist in opening a ticket to link consumers to live support for ongoing issues.
What you may not like about Block crypto platform?
Some of the drawbacks of BlockFi.
- Accessibility: Due to its innovative strategy, which combines elements of the cryptocurrency world with some services that banks have historically provided, BlockFi has come under intense regulatory scrutiny. Its ability to offer all of its services has not been approved by all states, and in early 2022 it decided to cease adding new members to a program that paid interest on cryptocurrency assets.
- Website navigation: It’s hard to discover certain crucial information on the BlockFi website, such as how to close your account.
- Transaction and trading fees: Although there are no trading costs on BlockFi’s platform, crypto assets are marked up by a spread of around 1%. Depending on the state of the market, the business warns that number may change.
Is BlockFi the right exchange to trade bitcoin and other cryptos?
If you want to get some cash without selling your cryptocurrency holdings. The loans offered by BlockFi may be profitable. However, there are alternative platforms that offer comparable trading services and a greater range of availability if you’re looking for a platform to buy, sell, and trade a wide selection of crypto assets without using these features.
Robinhood – Best Cryptocurrency Exchange App in the United States of America for Newbies
Robinhood is the best crypto exchange in the US for users who want the mobile app experience, combined with its large selection of cryptocurrency and comparable trading costs, it really becomes a tough one to beat. It is mostly used by newbies.
Why I think Robinhood is a good crypto platform to buy Bitcoin in the USA?
Let us discuss the advantages of Robinhood.
- Low fees: Although its offers might not be as extensive as those of some other brokerages, Robinhood is a real bargain broker and has some of the lowest fees in the crypto market.
- Free cryptocurrency trading: Among stock brokerages, Robinhood is still one of the few that offers free cryptocurrency trading, making it a unique offering in the available top crypto trading platforms in the US.
- User interface: Using Robinhood is quite simple. In fact, some have said that it has made sophisticated trading techniques, such options trading, too accessible to novice users. However, the simplified interface is quite useful if all you want to do is play around with stocks or crypto.
- Minimum trade: Investors may begin using Robinhood right away because there is no minimum account requirement. Of course, you’ll need enough to buy the investment you’ve got your eye on in order to invest.
- Selection: Users of Robinhood may purchase certain cryptocurrencies directly from their stock trading account, in contrast to many traditional brokerages. Additionally, it is totally free. For a comparable service, pure-play cryptocurrency brokerages typically charge comparably hefty fees. Additionally, Robinhood’s cryptocurrency service has the same recurring stock investing option.
- Customer service: Robinhood has 24/7 phone support, but you’ll have to request a call from the company, and the customer support executive will contact you within 30 minutes.
What I do not like about Robinhood?
Let’s discuss about the disadvantages of Robinhood:
- Users can only purchase, sell or hold cryptocurrency.
- There are no options to send your crypto assets to other wallets.
- Robinhood is unavailable in 4 U.S states.
- Robonhood has history of pausing trading against your interest. Example: When Bitcoin and Dogecoin surged in 2021, they halted crypto trading.
Is Robinhood the right crypto trading app for you?
Robinhood is a good option if you value a simple trading interface, a good mobile experience, or the opportunity to trade cryptocurrencies. However, because many online brokers have followed Robinhood in removing fees, inexperienced investors can now afford to compare brokers to choose the one that best meets their needs
Kraken – Best crypto exchange in US with large collection of cryptos
Kraken is one of the top crypto exchanges in the USA. Kraken is one among the oldest bitcoin exchanges and now offers a wide variety of over 100 cryptocurrencies to trade from. Kraken not only supports spot trading, but also offers cryptocurrency futures.
Why should you use Kraken to buy Bitcoin in the US?
Let us discuss the pros of Kraken.
- Selection: Kraken has one of the largest collections of cryptocurrencies of over 100 currencies.
- Crypto to crypto trading pairs: There are more than 130 pairs of crypto to crypto trading.
- Low fees: Kraken’s prices for beginning traders are average, while its more expensive Kraken Pro service has among the lowest costs.
- Minimum trade: It is 0.0001 BTC for bitcoin and 0.004 ETH for Ethereum.
- Customer support: On weekdays from 6 a.m. to 6 p.m. Eastern time, Kraken offers live phone help. There is also a 24-hour web chat option available. A personal account representative is provided to Kraken users who “consistently trade.”
What are some of the things I do not like about Kraken crypto exchange?
Some of the drawbacks of Kraken.
- Funding options: Customers from the United States who wish to fund their accounts with money have few alternatives with Kraken. People may link their bank accounts through a programme called Trustly, which Kraken claims is compatible with more than 1,000 financial institutions. However, if your bank is not one of those organizations, you will need to transfer money into your account, which may require speaking with your bank to set up the transaction.
- Accessibility: People from Washington state and New York are not eligible for the exchange.
Is Kraken the right crypto exchange for you?
Although Kraken offers goods, instructional materials, and tools for new cryptocurrency investors, many of its services are geared toward more experienced investors. Kraken provides an affordable experience if you’re comfortable with a more complex interface and want access to a wide variety of investing alternatives.
FTX.US – Best Crypto trading platform in USA for advanced crypto traders
FTX is on a good pace in becoming one of the top crypto exchanges in the United States. It provides a lot of sophisticated options well suited for advanced traders such as margin and future trading.
Why I think FTX is one of the best cryptocurrency exchange in the US?
FTX is probably the most secured cryptocurrency exchange in the US where you can atleast keep your funds safely. Let’s discuss some of the pros of FTX.
- Less fees: The trading costs on FTX are some of the lowest among the exchanges. For instance, users of the company’s mobile app don’t pay any transaction fees. In addition, the site will cover many of the withdrawal costs for cryptocurrency.
- Advanced trading: FTX describes itself as being built “by traders for traders,” and it gives numerous alternatives that may appeal to that market. For instance, it provides futures trading and derivatives.
- NFTs: FTX offers a wide range of Non-fungible tokens to choose and purchase from.
- Minimum trade: $1 is the minimum amount required to buy cryptocurrency in FTX.
- Crypto to crypto trading: FTX offers 21 pairs of crypto to crypto trading
- Transaction and trading charges: The mobile app for FTX does not impose transaction fees. It does add a spread, which has the potential to drive up consumer costs, just like some of its rivals, such as Robinhood. Customers will receive one free wire transfer of cash every week from FTX on both mobile and desktop, but all withdrawals above $5,000 are free. Additionally, it pays for some assets’ blockchain network costs. Cash deposits through wire are cost-free.
What FTX needs to improve on?
Some of the cons of FTX:
- Customer support: FTX, unlike its other crypto trading rivals in the USA, doesn’t offer any live phone call support to its users. FTX pushes the customers to open a ticket to address the issue that they’re facing on the online portal.
- Selection: FTX offers only 21 well established cryptocurrencies.
Is FTX the right bitcoin trading platform for you?
On the one hand, those just starting out might find the comparatively cheap costs appealing. The more complicated products that FTX offers may appeal to more experienced traders, however others may be searching for a wider variety of cryptocurrencies.
Best Exchanges to buy cryptocurrencies in US: My Final Thoughts
In conclusion, Binance.US has the lowest trading fees and the most reliable trading system. Coinbase is best suited for beginners who want to get started with crypto and try it out, it offers a lot of educational materials to learn from.
Crypto.com has the best security features, and is suited to an advanced trader. BlockFi has the best interest rates, and it is best for users who intend to hold their cryptos for a long term.
Robinhood is for everyone, if you are a beginner or an advanced trader Robinhood offers a lot of options. Kraken has a very large collection of cryptos, and crypto to crypto trading pairs are also high. FTX is suited for advanced traders who trade with a lot of volume and who want a minimum withdrawal fee.
Video: Best Cryptocurrency Trading Platforms US
Take a look at this Youtubers’ list of best US exchanges.
How to choose the best crypto exchanges in the US?
The main things to focus while choosing your crypto exchanges are security, user experience and cost.
Why is the crypto market down?
The entire crypto market is down because of the same reason which affected the stock market and other financial assets, which is high interest rates and hyper inflation.
Which is the best Crypto trading platform in the US?
There is no direct answer to this, every user has a need of their own and it narrows down to their preference.
How many Crypto trading platforms exist?
Since the crypto trading platforms do not register at any central authority, knowing the exact number is very hard. Most of the people rely on the top crypto exchanges in the USA with a lot of trading volume.
You should not regard any of the article’s material as advice of any kind since the information on this page does not represent investment advice, financial advice, trading advice, or any other kind of advice. You should not purchase, sell, or hold any cryptocurrencies, according to this article. Prior to making any investing decisions, do your own research and speak with a financial professional.