Find Out the Best Crypto Trading Exchanges in the U.S. and How to Choose Them.
Discover how the most reliable Crypto Trading Exchanges in the U.S. protect buyers and sellers, and ensure the integrity of your trading system.
A crypto exchange plays a pivotal role in the global financial system, facilitating trading cryptocurrencies and other assets between users. Centralized cryptocurrency exchanges are safe, secure, and transparent, operating 24/7 under the oversight of regulators.
The crypto world has evolved over the years, and today, many exchanges and trading platforms have emerged. These innovations include crypto trading exchange platforms whereby people can trade Bitcoin and other altcoins seamlessly.
Among several features embedded in these platforms are p2p, buying crypto with a credit card, creating a crypto address, and a lot more.
Most of the world’s cryptocurrency transactions are carried out on these crypto trading exchanges, and large sums of money are being traded with just one click in some of them.
Often, to make the most out of crypto trading, you must keep an eye on the market 24 hours a day. But, this cannot be easy to do. Luckily, automated trading platforms like Gunbot exist and can provide you with the necessary support.
And you know what? You can trade with Gunbot in any of the top crypto trading exchanges in the United States.
Exchange platforms offer services so that you can make the right decisions with your trades at the right time. However, each trading exchange has a distinct feature that makes it better than the other.
In this article, we’re going to dissect the best crypto exchange platforms in the USA to help make the most of your trading.
What are Crypto Trading Exchanges?
In simple words, a crypto exchange is a platform to trade (buy and sell) cryptocurrency.
There are thousands of coins out there; these exchanges offer an opportunity to buy and sell one crypto coin for another. For example, you can buy ETH with BTC because you can not purchase all altcoins with a credit card.
To get fully involved in many crypto projects out there, you have to create an account on one of these exchange platforms to swap your U.S. dollars or any other fiat currency for crypto assets.
Some of these exchanges trending in 2021 are Binance.US, Kraken, FTX.US, and Gemini. These private exchange companies offer a software platform to trade cryptocurrency—with active trading, high volumes, and liquidity.
As the cryptocurrency market continues to expand in the U.S., we can see more and more exchanges competing with each other. The crypto exchanges in this article are some of the top competitors, and I chose them based on my personal experience, research, exchange performance, and trust among customers.
While these platforms are a medium to access the crypto market—with the advent of several innovations in the crypto/blockchain industry, many of these exchanges are making waves.
Crypto trading exchanges offer a channel to trade coins with other coin pairs and against fiat currencies.
Many factors go into determining which cryptocurrency exchange is the most popular. For some, ease of use might be essential; for others, it might be the variety of coins available. Ultimately, there’s no one-size-fits-all option, nor is there a standard crypto trader.
It is also crucial to look at their security, trading volume, user reviews, and the exchange’s potential for continuous growth in the crypto industry.
Can you buy cryptocurrency legally in the U.S.?
The legal status of Bitcoin and other cryptocurrencies varies across each U.S. state due to local regulations and is constantly changing because of the developing financial policy landscape.
Under the United States federal law, Bitcoin is classified as a “commodity” and considered legal. As such, cryptocurrency transactions are subject to taxes at varying levels in different locations.
The United States Government does not consider cryptocurrencies illegal, which means you can buy them and sell them on crypto trading exchanges. Provided proper anti-fraud measures like Know Your Customer (KYC) and Anti Money Laundering (AML) are set in place.
Regulation and taxation remain hurdles for Bitcoin and crypto in the U.S., but the government has taken concrete steps to address these concerns.
Cryptocurrency’s legal status (and regulation) will continue to change and evolve over the coming years as the crypto space matures.
How to buy crypto in the U.S.?
The best way to get cryptocurrency in the United States is to use a licensed crypto exchange that adheres to strict requirements imposed by local authorities.
The platform must pass audits with regulatory agencies, complete background checks on its users, maintain all transactions, and keep users’ private information confidential.
Exchanges not regulated by the relevant authorities expose customers to associated risks such as fraudulent activities and money laundering, ultimately harming consumers.
Best Crypto Trading Exchanges in U.S. 2021
Below are 5 of the best crypto exchange platforms to look out for in the USA.
Coinbase is a top crypto exchange that has been used for cryptocurrency trading since 2012. The crypto exchange keeps improving as it matures, and it should come as no surprise that it tops this list.
Coinbase, a San Francisco-based company, is arguably the leading cryptocurrency exchange platform in the United States. With its continued success, it is known to be one of the largest in the world.
It was launched in 2012, and the company’s growth has been incredible, and it grew almost 100% from $56.4 million in march 2021 to $102.6 million in the most recent period. Coinbase currently offers 56 cryptocurrencies for U.S. users to trade, invest, and stake.
Unlike other exchange platforms, Coinbase offers an array of investment options for businesses and institutions, including storing assets and a lot more. In mid-2021, the exchange started dogecoin access for Coinbase Pro users.
Coinbase Pro, explicitly made for advanced users, gives users advanced charting and trading options.
Seasoned users want more powerful tools, which they’ll find in Coinbase Pro. It features robust trading tools that will satisfy skilled users looking to go deeper into crypto trading.
Coinbase Pro also has about 105 trading pairs with USD and more than 40 crypto to crypto trading pairs.
Coinbase Advantages and Disadvantages
Pros: The interface has a comprehensive design, and it is easy to use, making it easier for beginners to navigate and purchase their preferred coin.
Like most trading platforms, Coinbase has its reader base section, and it rewards users with cryptocurrency when they learn about crypto.
Cons: Coinbase has its disadvantage when it comes to up-and-coming altcoins. For example, if you want to purchase Doge (the meme coin), you will have to use a different and more technical platform to access these coins.
Also, Coinbase has a high transaction fee, making it inconvenient for regular/below-average traders.
If your goal is to buy and HODL Bitcoin, Coinbase is your best choice due to its easy “crypto buying process.” If you plan to trade different coins manually or use a crypto trading bot, you should go with Coinbase Pro.
Coinbase is the top-rated crypto exchange platform in the U.S. because of its variety of notable features. Some of the features are:
- Coinbase is a cryptocurrency exchange for beginners.
- Buying crypto using bank deposits, credit cards, or debit cards.
- Monitor your portfolio online or on your phone.
- Coinbase Pro is an advanced trading platform with more in-depth tools.
- Earn free cryptocurrency by learning about crypto.
- Securely storing Bitcoin and other digital assets.
Coinbase is hands-down the best crypto exchange for traders and investors in the United States. It’s the first publicly listed cryptocurrency exchange in the U.S., which means you can set your mind at rest knowing your funds are in reliable hands.
Binance.US is a cohort of Binance—the largest cryptocurrency exchange in the world. Binance.US was launched in 2019 after its parent company stopped accepting U.S. users.
Binance.US is conventionally known for its low interest and high liquidity. In April 2021, the platform recorded a milestone as it announced that its total trading volume surpassed $28 billion.
Its international industry-leading counterpart, Binance.US, is available in most U.S. states except Louisiana, Texas, Connecticut, Hawaii, Vermont, New York, and Idaho. It is currently serving over 10 million U.S. users.
The platform has a user-friendly interface that makes digital trading currencies easy for a non-technical person. It is also available for iOS and Android.
As of now, Binance.US has 53 cryptocurrencies—plus stable coins available for trading. Exchange digital currency with U.S. Dollars. With minimal transfer fees.
So far, Binance.US has not experienced any security holes, making it an ideal platform for exchanging digital currencies. As good as BinanceUS is, it doesn’t support Margin trade, and its coin offerings are presently limited.
Gemini is a US-based crypto exchange company launched by the Winklevoss twins in 2015. It is dominant in the United States. Also available in some countries like Canada, Hong Kong, Singapore, and South Korea.
The New York-based company—Gemini has a simple interface for new crypto traders. You can find exchanges that charge fewer fees for crypto traders. Gemini’s safety measures and insurance against online breaches might ease the minds of those new to the cryptocurrency trading world.
Unlike Coinbase and Binance.US, Gemini has a smaller volume and offers about 30 cryptocurrencies, including popular ones like Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
Gemini is accessible in all 50 states. It offers a range of trading options like p2p, Crypto-Crypto trading, Crypto wallet security, and insurance—in case of data breaches and so on.
Talking about its interface, Gemini offers two interfaces. A regular one, particularly for beginners, can be navigated with a click—an advanced trading interface designed especially for the experienced—ActiveTrader platform.
Its fees are fair as it charges 0.5% for mobile and web app users and a transaction fee based on the traded assets of about $200; a 1.49% is set on an increased order above $200.
Pros & Cons
Gemini follows strict security protocols, and in 2018 it found no security loopholes, making it one of the most secure and trusted digital currency platforms.
One major limitation of this platform is that its fee is sometimes confusing and relatively high when not trading.
Kraken is one of the earliest cryptocurrency exchange platforms. Launched in 2011, Kraken is the largest exchange in terms of volume and liquidity for EUR trading pairs. They are widely used around the world, including in the United States.
Kraken is available all over U.S. states except New York and Washington—making it limited.
It offers a variety of currencies, more than 90 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Monero, Litecoin, and many more. It also supports deposits/withdrawals via bank transfers and cryptocurrencies.
The Kraken platform also supports up to seven FIAT currencies (USD, EUR, CAD, AUD, GBP, CHF, JPY) with varied deposit and withdrawal fees.
Kraken is a preferred exchange among experienced traders and institutional investors interested in margin/futures trading, over-the-counter (OTC), and automated crypto trading.
The old and solid exchange company offers several trading options like Futures, Margin, Crypto2Crypto. Kraken, however, has some downsides. Currently, its mobile futures platform isn’t available in the U.S. Also, it had inaccessible 24/7 phone customer support.
Having a not very friendly user interface, it also suffers from stability and performance issues, but it is a good platform for cryptocurrency exchanges.
Hackers have never breached Kraken. It’s a fact established over a decade ago, and despite the occasional social media controversy, Kraken has remained one of the most secure platforms on the market.
While other platforms specialize in privacy-centric cryptocurrency transactions, Kraken remains the gold standard.
FTX.US Cryptocurrency Exchange is a Delaware-based cryptocurrency trading platform launched in 2017 by Wall Street and Silicon Valley veterans. FTX is secure—as they require two-factor authentication.
They offer high liquidity similar to Gemini, and they are fast. The exchange company majors on providing safe and stable trading market options for cryptocurrency trading.
FTX US is subjectively a complete trade solution, Offering about 30 cryptocurrencies, including Fiat currencies(USD, AUD, EUR, CAD, GBP, SGD). It has a clean design and offers a user-friendly interface making it easy to trade each crypto asset.
It is a total solution that offers high liquidity; factors such as low trading fees, margin trade, address, and I.P. whitelisting, make it easily accessible.
The FTX variant offers Bank transfer (ACH), cryptocurrency, and Wire transfer as payment methods. Its users can make all their trades on one platform, and they will be guaranteed significant profits as well.
FTX charges 0 to 0.10% as a trading fee for sellers and charges 0.05 to 0.40% for buyers. It sets a deposit fee depending on the payment method —1% fee via Wire; No charges via Silvergate Exchange Network (SEN). It charges a 1% withdrawal fee on Wire transfers.
Note that some FTX features are not available for U.S. customers.
Choosing a Crypto Exchange Platform
With cryptocurrencies trading so popular, various crypto trading services have appeared. So, how do you know the best platform to make your operations more successful?
Is your money secure? One of the most crucial factors when choosing a suitable cryptocurrency exchange is the security of your money.
Sure, some exchanges offer other great features, but we know security is the most important. Security is by far the most vital factor of a business. If a hacker can steal your funds, then any other advantages it offers are worthless.
As an investor, you have to make sure that the crypto trading exchange you invest in can maintain a high degree of integrity and security.
Make sure the company has the necessary security in place to keep your investment safe and that they’re proactively looking for any vulnerabilities and fixing them before hackers find them and cause real damage.
Tips to Select a Crypto Trading Exchange.
Is the trading platform user-friendly?
The best crypto trading tools are designed to be easy to use. The quality of the user interface is an essential feature for any new crypto trader.
The design and functionality of the crypto exchange will help you efficiently trade to concentrate on making profits instead of learning how to navigate through a complicated user interface.
Crypto Trading Exchange Liquidity
Simply put, liquidity is the amount of trading that happens at any given time. A crypto exchange with many volumes is usually a good indicator of liquidity and its ability to fill orders.
Liquidity is what allows you to buy or sell cryptocurrencies at any time in the day.
You will need to find a stable enough company to manage your Bitcoin to ensure maximum return on your portfolio. The credibility of any exchange platform is ranked using the liquidity ratio.
A business can trade its Bitcoin and make a profit while retaining its original value. The number of active users is directly proportional to the volume of liquidity.
In other words, a platform with a high number of sellers and buyers has increased its liquidity.
Do your research and go for the one with the highest trading volume. Stay away from exchanges with low liquidity.
Crypto Trading Exchange Fees
With each platform comes differing transaction fee structures that are targeted at diverse types of users. Day traders don’t like high trading fees, whereas people who want to invest a little on a coin for their retirement won’t care as much about the fee structure as they do about other features.
Planning to pick a platform is essential to know you will incur only transaction fees and withdrawal fees. The transaction fees on some platforms are much lower than the fees on other platforms offering similar services.
Crypto Trading Exchange Customer Support
As the saying goes, the excellence of a system lies in the support system. Having a team of people that is always there to answer your questions and knowledgeable about cryptocurrency exchanges and the application they offer you is vital.
Without an effective support team, you will have a tough time harnessing the services’ value to bring to you.
Exchanges are gatekeepers between investors and the distributed ledger and must be trustworthy in how they operate and what they do with investor money.
A trusted crypto exchange should have a high level of transparency, a safe and secure user interface, clear policies around funding and withdrawal processes, and a willingness to hear from users and take their feedback into account.
Crypto Trading Exchanges KYC and AML
KYC stands for Know Your Customer, and AML stands for Anti Money Laundering.
So, KYC and AML, Why are they so Important for Trusted Crypto Trading Exchanges?
In the United States, all cryptocurrencies are treated the same by law. Therefore, all crypto trading exchanges must comply with KYC and AML procedures, no matter which currencies they trade in.
Money laundering is a huge problem worldwide. A cryptocurrency’s cheaper, faster international transactions also make it an ideal tool for criminals like money launders and terrorist funders.
Why is KYC crucial for crypto trading exchanges in the U.S.?
Simply stated, KYC builds trust with customers. Crypto needs trust and transparency, To reach mass adoption in the financial sector. KYC helps exchanges to provide that.
KYC is a hot topic in the crypto trading process, and it’s only becoming more and more controversial. There has been a drastic increase in the number of exchanges requiring KYC verification.
KYC, is this a good or a bad thing?
KYC: Know your customer’s identity to avoid money laundering, terrorist financing, or tax evasion. KYC is the process crypto trading exchanges use to know their customers and make sure that they will not use the money for nefarious purposes.
To be more specific, KYC is the opposite of anonymity. Yet this paradox ensures that transactions are entirely transparent and secure for both parties. And this is something that you should take seriously.
Accountability is essential for all parties involved in any financial transaction. For investors, performing KYC helps to ensure that your account is safe from fraudulent capture and your data is protected. Customer identification programs help you avoid reputational risk and legal mishaps.
I would recommend you to stay away from crypto trading exchanges that do not comply with this procedure. At this point, I could say that KYC in crypto is a necessary evil we should get used to and comply with if we want to use safe crypto exchanges.
Understandably, the “Know Your Customer” process can be seen as just another obstacle (that raises issues about privacy and security of personal data) to entering the cryptocurrency trade market.
Crypto trading exchange services must take protective measures to ensure safety. So, like I said, in this day and age in crypto, not enforcing a KYC procedure from a crypto exchange should raise a red flag.
Gunbot Crypto Exchanges for the U.S. Traders
Making the most out of crypto trading exchanges means having a bot that can support your trades and help you watch the market 24/7. This is where Gunbot comes in!
You can use Gunbot to help you trade on multiple exchanges, take care of technical analysis, set up ideal strategies to enter and exit positions, and monitor your digital assets.
You can smoothly execute trades with confidence without losing sleep or burning out when using a crypto bot.
Gunbot streamlines crypto trading with its automated settings and user-friendly interface, providing access to in-depth technical analysis tools.
Gunbot can trade in more than 136 cryptocurrency exchanges thanks to its integration with the CCXT.pro library. Sadly if you’re in the USA, you won’t be able to access those blocking U.S. I.P. addresses. Too bad for them 🙂
But don’t get discouraged. There are plenty of trustworthy exchanges that you can still use while keeping your money safe. You can use Gunbot on the Top 5 crypto trading exchanges in the USA!
Crypto Trading Exchanges that U.S. residents can use to trade with Gunbot
- CoinbasePro: Certified Gunbot Exchange, thoroughly tested and working flawlessly for a long time.
- Binance. U.S.: Gunbot Partner Exchange, solid performance.
- Kraken: Integrated with Gunbot. Used by many Gunbotters for a long time.
- FTX.U.S.: FXT is a Gunbot Official Partner but its little brother has not been fully tested.
- Bittrex: Another oldie but goodie, used and trusted by customers since Gunbot V 3.1 like Kraken.
- CEX.io: Supported by Gunbot since January 2018.
- Gemini: Supported by integration with the CCXT library, but not thoroughly tested.
- Beaxy: Official Gunbot Partner, and it doesn’t take an API slot from your license, still been tested.
- Mex Gunthy: Binance broker program, this is a clone of Binance with all its bells and whistles, perfect for U.S. residents (you need to KYC with Gunthy Exchange)
Cryptocurrency trading is a volatile market, with prices rising and falling almost daily. Price volatility depends on the country or state regulations, security, acceptance of cryptocurrencies by exchanges, significant players, etc.
To meet the growing demand for cryptocurrencies and investing platforms, you must opt-in for the above options and do your homework. Everything you need as a crypto trader is to trade smoothly and effortlessly in the best crypto trading exchanges available for U.S. citizens.
Remember, no matter what, an exchange is safe until it isn’t (get’s hacked).
That’s why it is recommended to spread your crypto assets across multiple exchanges so you can minimize your risks.
Don’t forget the crypto mantra: “Not your keys, Not your Bitcoin.” It’s crucial you only invest your money in reputable exchanges.
As a cryptocurrency trader, it’s crucial to find the right exchange platform before trading or investing in these high-risk assets. But I also know that this particular market can offer you huge rewards if you have the patience to learn and take advantage of my research and crypto trading tips.
Now that you know where to find the best USA crypto trading exchanges. It is essential to have defined digital currency investment strategies before you start trading.
And where else can you find the best crypto trading methods? You got it; go for the Ultimate Crypto Trading bot now!