When Bitcoin and various cryptocurrencies are mentioned, most people find it daunting, especially for newbies. It may not be that simple, but it is not something to be ignored; that is why there are various articles to help you know about it more. As you further progress, you will eventually overcome the intimidation and start to adapt to the way of these currencies.
You will realize there are many lists of best exchanges across the world, especially in the USA. However, we’ve taken the hassle out for you and provide you, in this article, the best Crypto Exchange for USA.
What is Cryptocurrency?
Money is certainly not everything, but we cannot reject the fact that it became a necessity to achieve various possibilities. It has a vital role in every aspect of society that as the world evolves, so does it. Today, several digital currencies like Bitcoin became a substitute for actual fiat money.
Cryptocurrency is a payment method that can be used digitally for any goods and services. It operates via blockchain. It is a decentralized technology that is disseminated throughout various computers to register and handle transactions. This specific technology offers maximum security features.
In a much simpler explanation, Cryptocurrency is a digital currency that is typically protected by blockchain technology. It claims to be near impossible to be counterfeited.
What is Cryptocurrency Exchange?
It is also called a digital currency exchange that permits consumers to trade cryptocurrencies for different resources such as fiat to crypto or another virtual currency with added trading fees. Some also exchange it for stocks.
How to Choose the Best Cryptocurrency Exchange?
Restrictions and Location
What is the purpose of a crypto exchange if it is not available and legal in your country? Even if Cryptocurrency exchanges are flooding in the USA and across the world, other countries still do not accept these types of currencies; that is why there are some limitations regarding its usage.
Engaging in digital exchanges has its own threats; that is why it is essential to choose a cryptocurrency exchange that offers maximum security so that you can avoid identity theft, hacking or data breach. They must provide end-to-end encryption, two-factor authentication, and more.
It is also vital to have customer support that is always available. It is a plus if it can communicate with various languages to ensure a clear and transparent transaction.
Like any other business, it also comes with various types of fees such as withdrawals, deposits, or other transactions. If you want to buy sell some has fewer fees.
Dealing with crypto exchange can be overwhelming at first; that is why you should choose a platform that provides simple but informative graphs and charts to help you catch up in real-time. It must also be easy to be navigated through various devices to be continuously updated.
While this is an obvious thing to consider, this must still be mentioned, and it is crucial to verify the legitimacy of exchange before committing to it. Various online communities can help you with forums on Twitter, Facebook, Reddit, or even reviews from other sites.
Advantages of Cryptocurrency
Improved Payment Options
Compared to a platform when you use fiat money when you transfer via credit debit card, the transaction fees are much lower. It also eliminates the high currency conversion fees for international dealings. In other terms, it eliminates the middle man in the equation. It offers convenient transactions and lower costs.
Every transaction that you make with the receiver is exclusive. You have the choice to only disclose the information you want with the receiver. The past transaction will have sufficient confidentiality, and your identity is secured.
There is no reversing any transactions with cryptocurrency. Strong encryption technology is utilized during the transactions so that every user is shielded from a data breach, hackers, and scams.
Unlike fiat money that the government manages, Cryptocurrency is governed by the inventors and the people with a high amount of the currency. Decentralized currency is an advantage because no one will determine the value and the flow of the currency.
The Best Crypto Exchanges in the USA
Find the best Crypto Exchange in the USA, with the top crypto mentioned below. Listed down are the pros and cons you can compare to help you decide which is the best one for you.
1. Coinbase – Best Crypto Exchange
Coinbase, Inc is known as the best crypto exchange that is situated in San Francisco, California, USA. It was founded by Brian Armstrong and Fred Ehrsam in June 2012. It served about 32 countries. In terms of trading volume, Coinbase is recognized as the largest cryptocurrency exchange in the USA.
Coinbase, Inc. is certified to operate in more than 40 USA states and locations. The fees that Coinbase has are ranging from $0.99 to $2.99, and it varies on the dollar worth of the purchase.
- Completely regulated and licensed cryptocurrency exchanges
- Coinbase has high liquidity
- It has a beginner-friendly user interface, best for beginners
- Coinbase contains expensive fees if you are not utilizing its Coinbase Premium
- Account user doesn’t have control over wallet keys
- Compared to other crypto exchanges, Coinbase has fewer altcoin trading choices
As mentioned above, Coinbase has a user-friendly interface so the ease of use is not out of the picture, and it provides a free Coinbase Pro version; it is different from the paid version but still gives various essential charts and indicators. If you have gotten the hang of the free version, you may be able to upgrade to the Coinbase Pro; it is more advanced and has added features.
Another important fact from Coinbase, so far, it has not been involved in any controversy and is trying to keep its good reputation.
2.Kraken – Great Bitcoin Exchange
Kraken is known as one of the best bitcoin exchanges company that is located in San Francisco, California, USA. It is owned by Payward Inc and was founded on July 28, 2011. Based on CoinMarketCap, this company is recognized as the 4th one of the best biggest cryptocurrency exchange in the world.
Kraken is also known as one of the safest crypto exchanges. It can also support a vast amount of buyers and sellers. The trading fee of Kraken are between 0% to 0.26%.
- Kraken has fairly low fees
- As mentioned, it boasts about its maximum-security system
- Kraken also offers a lot of fiat currency that are accepted
- Kraken faced an issue in 2017
- Have a terrible customer support
Regarding the issue, in 2017, Kraken had trouble with the exchange; they weren’t able to cope with the number of users. In 2018, Kraken had to close for about a week to solve and improve their security. Also, Kraken doesn’t have reliable customer service. On the brighter side, as mentioned, it offers multiple fiat currency such as Australian dollars, Canadian Dollars, Japanese Yen, US Dollars, British Pounds, and Euros.
3. Binance – Great Advanced Trading Platform
Binance is known as a one of the best advanced trading platform that Changpeng Zhao and Yi He founded. It was situated in China before but moved to Malta because China continues to have a directive about cryptocurrency exchanges.
Binance is engrossed in altcoin trading. The fees of Binance with regards to the taker side and the maker side is both 0.1%. This results in scaling down with the trade capacity to 0.02% for mutual sides.
- Binance has more advanced graphs and charting
- It has a hefty assortment of trading pair and cryptocurrency exchanges
- Binance also has fairly low fees compared to frequently utilized exchanges
- New York and other 13 US locations are not reinforced by Binance US
- Binance is leaning towards more progressive users
- Compared to its international correspondent, Binance US only has less trading pair
Binance is most recommended to people that are venturing towards altcoins. It has over 50 cryptocurrencies to trade than Coinbase. It is also the top exchange for people who want to trade altcoins or individuals who intend to acquire further advanced charting.
4. CEX.io – Great Global Cryptocurrency Exchange
CEX.io was established in 2013 in London, UK. It was formerly a cloud mining company that operated the mining pool of GHash.io. GHash was among the most prominent construction pools in the region back in 2014.
In early 2015, CEX.io ordered to postpone distributing cloud mining resources. This was associated with the low price of Bitcoin at the period and also the fact that the firm owned no mining hardware. CEX.io can, however, only function as a platform for cryptocurrency exchanges.
- CEX.io offers reliable customer support
- It also offers margin trade options that are only recommended for advanced users
- CEX.io is registered and has legitimate certificates
- They do not have enough list of cryptocurrencies accessible
As mentioned, CEX.io has a reliable support system that will help you as you explore their platform. They offer a support section that has a detailed explanation, and if you may still have further questions or clarifications, they have an easy-to-navigate email support form.
Also, they have a margin trade option, which is commonly known to be a risky trading method, but if you are not new to this, this might be an ideal candidate for you. They are also listed as a Money Services Business with FinCEN in the United States of America and a level two DSS Permit.
5. Bitstamp – One of The Oldest Cryptocurrency Exchanges
In Slovenia, Nejc Kodrič and Damijan Merlak founded Bitstamp in 2011. It was initially developed among the first platforms as a rival to the then-popular Mt.Gox to trade Bitcoin. The trade later moved to London (2013) and then Luxembourg (2016). In late 2018, NXMH, a Belgium-based firm, acquired Bitstamp.
For intermediate and advanced cryptocurrency users who really want to trade fiat currencies, altcoins, and Bitcoin, the exchange is better equipped. Bitstamp aims to provide a decreased fees way for users to trade digital currencies in large quantities. At intervals between 2014 and 2015, Bitstamp experienced hacks and stopped doing business, although the latter witnessed 19,000 Bitcoins stolen.
- Intuitive exchange platforms
- Bitstamp offers a wide range of trading tools
- They also have several funding choices to choose from
- Unfortunately, they do not have online customer support
- They are also not regulated
- They are solely for crypto exchanges
Bitstamp is a crypto platform that offers premium accessibility to crypto exchanges to both individuals and institutional customers through its proprietary trading platform. They have a pricing system focused on volume, helpful trading tools, 24/7 premium service, and maximum-security practices. However, for some target users, Bitstamp is unauthorized, which might be a potential risk.
Gemini is an exchange site for Bitcoin Ethereum (currency on the blockchain Ethereum). It was established back in 2015 by the Winklevoss twins. Relation to the formation and zodiac sign representing a set of twins is the label given, Gemini. In April 2013, the two notably invested $ 11 million in Bitcoin.
Every coin was valued at only $120 at the time. Their contribution today is estimated at over 1 billion dollars! In New York is where the Gemini exchange is located. It has rapidly become one of the most recognized digital currency exchanges in the world of cryptocurrencies. It was also the world’s first approved exchange for Ether in 2016.
- Gemini has some added safety measures
- They also boast about the security of US dollars
- They are secured with complete registration and ensured compliance with banking requirements
- You need to provide a lot of personal information to the platform
- Occasionally goes offline
- They only provide limited funding choices
Gemini is convenient for various types of traders and investors. You may have noticed that it is not suitable for those that want to shift in and out of several cryptocurrencies. However, it is perfect for huge quantities and one-off transactions, mainly due to the platform’s high-level security.
Changelly is located in Prague. Changelly is a cryptocurrency trading fiat that allows clients to purchase credit card or debit card cryptocurrency. The platform offers both novice and experienced buyers and sellers an easy user interface to easily buy bitcoin and trade crypto assets and transfer them directly to a hardware wallet for full security.
- Changelly guarantees great prices in the market
- The non-custodial exchange won’t affect customer funds
- They are united with various notable exchanges and wallets
- Changelly doesn’t have a cryptocurrency exchange
- Also, the cryptocurrency prices are controlled by Changelly
Changelly is a vital trading platform providing in one bundle a convenient combination of stability and versatility. That being said, due to the high rate related to direct fiat transactions utilizing debit card or credit cards, it may not be an ideal exchange platform.
Bill Shihara, Rami Kawach, Ryan Hentz, and Richie Lai established Bittrex in 2014. It has its headquarters in Seattle, Washington. The team is well-known for being behind notable businesses such as Blackberry, Microsoft, Qualys, and Amazon, for over 50 years of safety and growth.
For exchanging on Bittrex, over 190 distinct cryptocurrencies are mentioned. 284 exclusive trading pairs are also offered on the web. The two currencies at which an exchange rate is being provided are trading pairs.
- Bittrex provides top-notch security
- They also provide less fixed trading fees
- They also offer convenient exchanges and several different fiat and cryptocurrencies
- Bittrex may not be recommended for beginners
- There are reports about the customer support
In almost all countries, like the United States, Coinmama offers a quick, secure and easy way to begin trading digital currency. Coinmama has operated over 2.6 million customers worldwide since its launch in 2013. The best exchange approves fiat currencies such as USD, EUR, GBP, AUD, and CAD.
- Coinmama operates in various countries
- Coinmama also has the uppermost limits when it comes to purchasing bitcoins using a credit card
- Coinmama has established a good reputation as a broker
- Coinmama has some of the highest charges with regards to debit card or credit card bitcoin agents
LocalBitcoins was initially founded by Jeremiah Kangas, in Helsinki, Finland, in 2012, with Nikolaus Kangas as the Chief Executive. With the service being accessible in over 240 countries, the app has risen quickly.
The firm recently introduced a joint site called LocalEthereum, which promotes P2P exchanges with Bitcoin Ethereum. It has not obtained financial support from investment firms.
- They offer low exchange fees
- They also provide a user-friendly interface
- They have an Escrow service
- The firm only offers bitcoin trading, and altcoins are not supported
- It involves higher fees for fiat money
Venturing into the crypto world is a learning process, but as you progress, you will be able to understand that it is worth your time because it is no secret that it is becoming the fastest-rising market across the world. This is the importance of having thorough research before you create an account and randomly buy and sell some crypto.
Reviewing the best cryptocurrency exchanges in the USA, I think the top spot will go to Coinbase. Aside from being recognized as one of the largest cryptocurrency exchanges in terms of trading volume, Coinbase also boasts about its 40 million certified users that clutch over $90 billion value of assets on Coinbase.
Not only that, but it also offers off-chain transfers so that users can send transactions without the fees and ease of use. However, it has less altcoin trading choices, so Coinbase may not be an ideal fit for altcoin investors.
Overall, cryptocurrencies have their own advantages and disadvantages; as a potential user of any platform, you may choose to be wise and vigilant. The best cryptocurrency exchange will still depend in what you really need. Provided above are tips to guide you in your crypto journey!
You May Also Like:
- How And Where To Buy Oxycoin (OXY) – An Easy Step By Step Guide - October 18, 2021
- How And Where To Buy Eternity (ENT) – An Easy Step By Step Guide - October 18, 2021
- How And Where To Buy Holo Coin (HOT) – An Easy Step By Step Guide - October 18, 2021