Best Crypto Exchanges in USA September 2022
In the United States of America, there are many cryptocurrency exchanges available for residents to purchase digital assets. Crypto exchanges can be used to buy, sell, and trade cryptocurrencies such as Ethereum and Bitcoin. In this guide, we’ve looked at and compared some popular crypto exchanges in USA to help you find the best option for you.
- Available Cryptos
- Bitcoin
- Ethereum
- Litecoin
- 90+ more
Payment Methods- Visa
- Mastercard
- Paypal
- Bank Transfer
Fees- 1.99% maker fee
- 1.99% taker fee
Based in: United States
San Francisco-based Coinbase is one of the most popular cryptocurrency exchanges in the world (over 30 million users) offers its services to the European audience.
Features
- Native support for GBP and EUR deposits.
- Debit and Credit card purchases.
- Insurance coverage for deposited crypto assets.
- Exchange trading facility for professional traders (Coinbase Pro).
- Staking options for popular proof-of-stake coins.
- High-security standards for both platform and client asset storage.
Pros
- The Coinbase interface is sleek and easy to navigate for even first time users.
- Coinbase boasts high liquidity across all listed trading pairs and assets.
- Multiple security options for securing user assets.
- Coinbase supports the purchase of crypto using 3D-secured credit cards.
- Coinbase provides options for users to earn free crypto by learning about new projects.
Cons
- Coinbase usually suffers a downtime when there’s significant Bitcoin price action.
- The platform supports a limited number of cryptocurrencies.
- Coinbase also shares user data with tax authorities.
- Available Cryptos
- Ethereum
- Solana
- Bitcoin
- 20+ more
Payment Methods- Visa
- Mastercard
- Bank Transfer
- SEN
Fees- 0.1% maker fee
- 0.4% taker fee
Based in: USA, San Francisco.
FTX is a cryptocurrency derivatives exchange that has been built by traders and designed to offer a powerful platform for professional trading firms, intermediate traders and beginners. Users on the platform have access to innovative cutting-edge trading markets such as derivatives, options, volatility products and leveraged tokens.
FTX exchange is owned by the Sam Bankman-Fried, the CEO and co-founder of Alameda Research which is a top cryptocurrency liquidity provider that gives FTX to access industry-leading order books. Alameda manages over $100 million of digital assets and trades $600 million to $1.5 billion per day across thousands of products such as derivatives through FTX exchange.
Features:
FTX.US for cryptocurrency traders that reside in the United States
- Professional user-interface for trading on desktop or mobile app
- Start trading without KYC and withdraw up to $2,000USD daily
- Low fees and tight spreads due to deep order books and liquidity
- Up to 101x leverage on cryptocurrency trading pairs
- Leveraged tokens to SHORT or LONG with up to 3X leverage with no margin
- Stablecoin Settlement using a single margin wallet
- MOVE Contract that settles to the absolute change in price of a coin over time
- VIP trading fee discounts with larger volume amounts and using the FTT token
- FTX Trading competitions and events
- 24/7 quotes for cryptocurrencies using OTC desk
- Comprehensive guides, FAQ section and responsive customer support team
Pros:
- Fiat Support
- Wide Range of Trading Products
- Low fees
- Solid Customer Support
- Good Liquidity Levels
Cons:
- Complex Range of Trading Products
- Available Cryptos
- Bitcoin
- Ethereum
- Cryptex Finance
- 50+ more
Payment Methods- Visa
- Bank Transfer
- Wire Transfer
Fees- 0.25% maker fee
- 0.35% taker fee
- 0.25% auction fee
Based in: USA
Gemini is a cryptocurrency exchange and custodian that offers investors access to 26 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.
Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader.
In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft.
Pros:
- Easy and quick signups — can get started in as little as a few minutes
- Multitude of platforms to accommodate traders of all skill levels
- Hot wallets include insurance to protect your from theft and hacking attempts
Cons:
- Higher fees than some other crypto exchanges
- Available Cryptos
- Bitcoin
- Ethereum
- Ripple
- 80+ more
Payment Methods- Visa
- Mastercard
- Bank Transfer
Fees- 0.16% maker fee
- 0.26% taker fee
Based in: United States
Founded in 2011, is the largest cryptocurrency exchange in euro volume and liquidity and is a partner in the first cryptocurrency bank.
Kraken lets you buy and sell bitcoins and trade between bitcoins and euros, US Dollars, Canadian Dollars, British Pounds and Japanese Yen. It’s also possible to trade digital currencies other than Bitcoin like Ethereum, Monero, ethereum Classic, Augur REP tokens, ICONOMI, Zcash, Litecoin, Dogecoin, Ripple and Stellar/Lumens. For more experienced users, Kraken offers margin trading and a host of other trading features. Kraken is a great choice for more experienced traders.
Check out the FAQ.
While the crypto exchange is based out of San Francisco, USA, they still have one of the largest Euro-to-crypto markets in the world. Kraken is available to residents of the US, Canada, Japan, and various European nations.
Kraken does not currently accept deposits via credit cards, debit cards, PayPal, or similar services. In 2014, Kraken became the number one exchange in the world when it comes to Euro trade volume. They also pioneered the first verifiable cryptographic proof of reserves audit system and was also listed on the Bloomberg Terminal within the same year. It has a solid, yet non-beginner-friendly crypto trading platform.
Pros
- High-security measures, very safe to use, two-factor authentication on the account login
- Reasonable fees on deposit/withdrawal
- Sleek design, a good overview of the trading market with lots of customizations
- A lot of cryptocurrencies and pairs to trade
- Proof of reserves audit
- Popular with experienced traders for excellent services
- Staking services, OTC, Margin, Indices, Futures, Dark Pool, Account management, Cryptowatch
Cons
- Not exactly beginner-friendly
- A slow verification process for intermediate and pro-level accounts
- Website slow on occasion
- No credit/debit card deposits
- Available Cryptos
- Bitcoin
- Ethereum
- Cardano
- 300+ more
Payment Methods- Visa
- Mastercard
- Bank Transfer
- Third-party gateways
Fees- 0.1% maker fee
- 0.1% taker fee
Based in: Global
If you’re looking for a high-performance cryptocurrency exchange that has cheap fees, then Binance is a good option. It is the world’s largest crypto exchange by daily spot trading volume and is available to users in most jurisdictions, including the UK. After years of secure operations, Binance can be considered the safest platform.
Features
- An instant “Buy and Sell” crypto option.
- A Visa card for converting and spending crypto.
- P2P trading platform.
- An OTC desk for large and institutional traders.
- Access to crypto-collateralized loans.
- Binance provides educational content for new investors via Binance Academy.
- A variety of trading interfaces that matches the user’s experience.
- Interest-paying crypto products and staking facilities.
Pros
- Binance lists a large number of cryptocurrencies and adds new assets that are widely in demand.
- Binance offers high liquidity across all trading pairs.
- The exchange has a responsive customer service desk.
- Users enjoy a discount on trading fees when they use Binance Coin (BNB).
- Binance allows experienced traders to enjoy a high leverage position, up to 125x.
Cons
- Binance is loosely regulated and may come under the regulatory spotlight in the future.
- Binance has occasionally listed crypto tokens that turned out to be apparent scams.
How We Rated The Top US Crypto Exchanges
With so many cryptocurrency exchanges to use, it can be a challenging task for beginners. We have individually researched exchange exchange listed above and rated the performance against the follow criteria.
Trusted and regulated
Using a local exchange is the safest option to buy and sell crypto in the USA as some platforms are not supported in certain countries due to regulation. The United States enforces one of the world's highest standards of financial laws and regulations that govern the digital currency industry. Therefore, we ensure the exchange is a licenced company and complies to regulations, for example, as set out by Financial Crimes Enforcement Network (FINCEN).
Beginner-friendly
Ease of use is an important consideration for beginners that have limited experience using an exchange, broker or trading platform. New investors looking to convert fiat currency to cryptocurrencies are better suited using a simple and quick user-interface on desktop or a mobile app. We assess the user-friendliness of the desktop and mobile application.
Deposit methods
The availability of local supported payment methods to fund an account should be at the forefront of new investors in the USA. Our rating checks the deposit methods available for residents in the USA using USD. For example, one of the quickest and most accessible deposit options is using a bank transfer via an US bank account. Alternative methods for US customers include buying with a credit card and debit card.
Withdraw to US Bank Account
Not all cryptocurrency exchanges allow the withdraw of USD to a bank account. This is an important feature for investors that will eventually cash out of their investment. Regulated exchanges based in the USA will allow selling crypto to USD.
Supported cryptocurrencies
Bitcoin is widely available on the vast majority of digital currency platforms. However, there are thousands of other altcoins and tokens that have become popular. Our rating takes into consideration the number of cryptocurrency assets available and the trading pairs against cryptos and fiat currencies.
Wallet security
The risk of online scams, fraud and theft is a major concern in the blockchain community. Our scoring system assesses the platform's security features to ensure the safety and protection of funds stored by the exchange. Common security measures include cold wallet storage, multi-signature withdrawal process and two factor authentication.
Fees
There are several different fee structures to be aware of when using a crypto exchange. There are fees to deposit USD, withdraw cash or crypto and trade between assets. Exchanges also charge spread fee which is often a 'hidden cost' and not fully disclosed. Essentially it is the difference between the bid and ask price on the market. Our review takes into consideration all fees.
Customer support
Explore the website to find out what communication methods are available to support users that need troubleshooting advice or assistance on the exchange. Also, some exchanges will provide comprehensive FAQ's and How-To-Guides which is useful for beginners.
Reviews
Search for online exchange reviews, forum comments and posts on social media is a great way to see what experience other investors and traders have had with the platform.
Conclusion
To conclude our article on the best cryptocurrency exchanges in the United States (US), it is recommend to stick with a well-established, reputable and US-based exchange that accept USD deposits and is regulated in most states. The above Bitcoin & crypto platforms in the US are trustworthy and used by millions of customers worldwide to buy, trade and sell cryptocurrency.
If you're are planning to buy and trade cryptocurrencies, make sure to withdraw your profits to a reputable Bitcoin wallet for safe-keeping. It is the best method to protect your crypto investment.
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Frequently asked questions
The legal status of Bitcoin and other cryptocurrency assets varies across each US state due to local regulations and is constantly changing due to the evolving financial policy landscape. Under the United States federal law, Bitcoin is classified as a 'commodity' and considered 'legal'.
Like most countries in the world, the USA Government does not consider Bitcoin or crypto illegal, meaning it can be bought and sold on exchanges if proper anti-fraud measures are adhered to. While the US Treasury Department's Financial Crimes Enforcement Network (FINCEN) have stated that is it legal to purchase Bitcoins, it's status as money or a commodity differs across states within the USA.
Customers will need to check the legal status of crypto within their respective state before investing.
Trading and holding Bitcoin and cryptocurrencies are taxable assets under the US Federal laws. Any sale of cryptocurrencies is considered a capital gains event and the profit or loss must be declared as part of an individual or company tax return. Taxable actions include digital assets bought, traded and sold on exchanges, mined, used to pay for things and earned through crypto interest savings accounts.
The best way for individuals to get cryptocurrency in the United States is to use a licenced crypto exchange that is regulated in the U.S state of the customer's residence. Using an exchange that is regulated by local authorities reduces the risk of fraudulent activity as the platform must adhere to strict requirements imposed by the Government.
When selecting a crypto exchange, it is important to ensure the platform supports your preferred deposit method. The best option is using a bank transfer from a US bank account. The transaction fees are generally low and the funds are processed in a few working days.
Other popular methods to convert US Dollars (USD) into cryptocurrency include a credit card or debit card, wire transfer, cash deposit, PayPal, cash vouchers and Amazon gift cards.
Exchanges available in the USA such as Coinbase allow credit/debit cards to be used to buy coins. It is fast, safe and easily accessible to individuals with a bank account. Other popular platforms that accept credit cards for US citizens are Binance, eToro, Changelly and CEX.IO.
Using a bank card for purchases is attractive for investors looking for a quick and safe way to obtain Bitcoins and other altcoins. The only downside with using a credit card is the transaction fees, which is higher than traditional payment methods such as a local bank transfer.
The majority of banks in the USA do not accept Bitcoin or crypto transactions. However, with the increased adoption the trend is slowly changing and a number of banks in the US such as Chime Bank, Ally Bank, USSA, Simple Bank and even JP Morgan have started to relax their policies towards digital currencies.
There are still incidents of cryptocurrency exchanges being hacked resulted in the theft of funds. It is not 100% safe to store crypto assets on an exchange, regardless of the security measures in place. The largest cryptocurrency exchanges do have bank-like security features in place to keep the risk extremely low, however the best place to store Bitcoin and crypto is within your own custody using a cold storage wallet.
Customers can purchase digital currencies such as Bitcoin and Ethereum using Apple Pay on Coinmama. The global cryptocurrency exchange is supported in the United States and accepts transactions using USD. Coinmama is one of the largest exchanges to support Apple Pay.