Best crypto exchanges

Compare the best crypto exchanges for American traders and investors.

By   |   Updated Aug. 14, 2024

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Comparing crypto exchanges

eToro Crypto

On website

eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.

Featured

eToro Crypto

Highlights

  • Trade and stake a range of crypto assets with low fees.
  • Copy successful traders. Practice with a demo account.
  • eToro is regulated by CySec, FCA and ASIC.


Disclaimer: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MS


Pros

  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.

Cons

  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.
Binance

On website

Binance

Highlights

  • Sign up on Binance to get a 100 USDT cashback voucher. Terms and Conditions apply.
  • Trade over 50 cryptocurrencies with low trading fees.
  • Uses state-of-the-art storage technology to protect your cryptocurrency and USD assets
  • Earn rewards for holding coins and tokens.

Pros

  • It has some of the lowest trading fees out there. 0.1% for spot trading and 0.5% for instant buy or sell fees.
  • Credit card or debit card deposits are accepted.
  • Provides charting and trading tools suitable for advanced crypto traders.

Cons

  • The platform UI can be complicated to learn for new investors.
Robinhood

On website

Robinhood

Highlights

  • No account minimums or commissions.
  • With a dedicated team of customer support professionals that are available to answer your questions.
  • Robinhood Financial and Robinhood Securities are members of SIPC, which protects securities customers of its members up to $500,000

Pros

  • Quick signup process.
  • Start with as little as $1.
  • Option to get a debit card.
  • Industry-leading security.

Cons

  • Mutual funds are not available.
  • Limited number of crypto assets are available.
Bitget

On website

Bitget

Highlights

  • Earn up to 1,000 USDT when you sign up, deposit funds in your account, and start trading. Terms and Conditions apply.
  • Trade over 150 coins and tokens.
  • Main feature includes one-click copy trading
  • Licensed to operate in Australia, Canada, and the U.S. with 24/7 multilingual online support.

Pros

  • The generous sign-up bonus when you meet the criteria.
  • Low trading fees.
  • You can sign-up for a demo account.
  • Get help from their customer support 24/7.

Cons

  • Has a limited number of educational tools and references.
Coinbase

On website

Finty may be compensated when you click on the link.

Highlights

  • Get $5 in Bitcoin after your first trade on Coinbase.
  • Buy and sell popular digital currencies, keep track of them in the one place.
  • Invest in cryptocurrency slowly over time by scheduling buys daily, weekly, or monthly.
  • Maintains crypto-insurance and all USD cash balances are covered by FDIC insurance, up to a maximum of $250,000.

Pros

  • Get access to a wide variety of altcoins.
  • Start trading with as little as $2.
  • Offers Coinbase card which allows you to spend crypto anywhere.

Cons

  • Fees are higher compared to other exchanges.
CoinSmart

On website

CoinSmart

Highlights

  • Get $20 in BTC with your first deposit.
  • Trade major coins and popular altcoins including Dogecoin, Cardano, Solana, Polkadot, and Polygon.
  • Fund your account with wire transfers, credit / debit cards, or crypto with access to trade funds the same day.

Pros

  • Low trading fees.
  • Deposits are cleared within the day.
  • Supports CAD, EUR, and USD.
  • Get 24/7 customer support.

Cons

  • Limited coins.
  • Fee applies to credit card and debit card deposits.
Coinmama

On website

Coinmama

Highlights

  • Buy Bitcoin and Ethereum with a credit card, debit card, Apple Pay, or bank transfer.
  • Place your order and get your coins instantly.
  • Fast-track verification with excellent customer service.

Pros

  • Start with as little as $50.
  • Accepts multiple types of payment options.
  • High spending limits.

Cons

  • Fees are higher compared to other providers.
  • Limited cryptocurrency selection.
Public Crypto

On website

Highlights

  • Get up to $300 of free stock when you create an account. Terms and Conditions apply.
  • Trade and invest in 25+ cryptocurrencies.
  • Unlock advanced data, unique market metrics, and analyst insights when you upgrade to a premium account.

Pros

  • Easy-to-use platform
  • No minimum investment is required.
  • Invest in alternative assets like fine art and collectibles.

Cons

  • Transferring crypto assets to another wallet is not available.
Kraken

On website

Kraken

Highlights

  • Get started with as little as $10.
  • Sign up today and buy 50+ cryptocurrencies in minutes.
  • Make easy deposits and withdrawals, measure your portfolio's performance and keep track of all of your crypto in one convenient place.

Pros

  • Large selection of tokens to trade.
  • Earn rewards by staking eligible assets.
  • Access to a range of educational materials.

Cons

  • Limited options to fund your account.
MEXC Global

On website

MEXC Global

Highlights

  • Invest and trade 1,500+ cryptocurrencies.
  • Provides various services like Spot, ETF, Margin, OTC, Futures, PoS Staking, and more.
  • MEXC Global is a secure and reliable crypto trading platform.

Pros

  • Earn rewards and bonuses when you complete tasks.
  • Multiple account funding methods are available.
  • There is an option for demo trading.
  • Supports a wide range of fiat currencies.

Cons

  • No option for fiat withdrawal.
SoFi Invest

Highlights

  • Get started with as little as $10 and trade stocks and ETFs with no commissions.
  • Do it yourself by choosing stocks, ETFs, and crypto, or let SoFi build a portfolio for you with automated investing.
  • SoFi makes it easy to spread your money out across stocks, ETFs, crypto, and Stock Bit.

Pros

  • Easy signup process.
  • No withdrawal fee.
  • Earn up to $100 in bitcoin when you signup.

Cons

  • Other exchanges offer more coins.
Webull

Highlights

  • $0 commissions and no deposit minimums.
  • Webull supports full extended hours trading, which includes full pre-market (4:00 AM - 9:30 AM ET) and after hours (4:00 PM - 8:00 PM ET) sessions.
  • Provides intuitive and powerful advanced charts, multiple technical indicators, and premier Level 2 Advance (Nasdaq TotalView).

Pros

  • Easy to use online platform or mobile app.
  • Get started with just $1.
  • Access to advanced trading tools.
  • Crypto wallet.

Cons

  • Scarcity of instructional resources for investors.
Gate.io

Gate.io

Highlights

  • Comprehensive protection with security and law funds.
  • Offers an efficient and convenient trading system as well as an instant deposit and withdrawal service.
  • Stable and reliable since 2013.

Pros

  • Signup bonus.
  • Supports a wide range of coins and fiats.
  • Deposit through bank transfer, credit card, and debit card.
  • Access NFT marketplace.

Cons

  • It may be confusing to use for beginners.
Gemini Exchange

Gemini Exchange

Highlights

  • Gemini Exchange makes it simple to research the crypto market, buy bitcoin and other cryptos, and build a portfolio for the future of money.
  • Set recurring buys and dynamic price alerts.
  • All crypto held online in Gemini's exchange wallet is insured and it uses the best-in-industry cold storage coverage with leading insurance providers.

Pros

  • Suitable for both beginner and advanced traders.
  • Supports multiple fiats and cryptocurrencies.
  • You can earn interest on your cryptocurrency balances.
  • Its mobile apps are highly rated.

Cons

  • The fee structure can be expensive for both small trades and higher volume trades.
Changelly

Changelly

Highlights

  • 160+ cryptocurrencies available.
  • Multi-currency wallet to store a variety of coins.
  • Access a gallery of tools to enable new functionalities for your business and foster monetization.

Pros

  • Offers one of the lowest prices in the market.
  • Average transaction speed of 25-40 minutes.
  • Integrates with many popular wallets
  • 24/7 customer support.

Cons

  • No trading option.
  • Limited payment options.
CEX.IO

CEX.IO

Highlights

  • Multiple payment methods: Visa, Mastercard, bank transfer (SWIFT, SEPA, ACH, Faster Payments), cryptocurrency.
  • Withdraw your funds to a card or bank account easily
  • Dedicated support via email, phone, and live chat around the clock to answer your questions at any time.

Pros

  • Earn rewards.
  • Strong security.
  • 24/7 customer support via email, phone, and live chat.
  • Registered with FinCEN.

Cons

  • Relatively high fees.
Crypto.com

Crypto.com

Highlights

  • Earn up to 8.5% p.a. on your crypto, and up to 14% p.a. for stablecoins.
  • Spend with the Crypto.com Visa Card and get up to 8% back.
  • Shop with Crypto.com Pay and receive up to 10% back, paid in CRO.

Pros

  • Get access to additional features including lending, borrowing, debit cards, and more.
  • Start trading with just $1.
  • Interest-earning deposits are available.
  • There is a USD 2,000 referral bonus.

Cons

  • Lack of educational resources.
Bitstamp

Bitstamp

Highlights

  • Enjoy easy, fast and reliable crypto trading.
  • Use your credit or debit card to make a deposit and take advantage of low trading fees.
  • Offers advanced trading tools and 24/7 dedicated support.

Pros

  • User-friendly crypto exchange with low fees.
  • Bank-grade security & insurance.
  • Earn rewards.

Cons

  • Other exchanges offer more coin options.

What is a US crypto exchange?

A US crypto exchange is the platform where traders and investors can buy, sell, and trade a variety of cryptocurrencies. An exchange facilitates trading between buyers and sellers for a fee, which is their primary source of revenue.

Crypto exchanges in the US are obliged to comply with regulations established by the Securities and Exchange Commission (SEC) and other relevant federal and state agencies.

Characteristics of the best crypto exchanges in the US

  1. Compliance with regulations. We only list exchanges that are licensed or regulated in the US.
  2. Low fees. Not only should a good crypto exchange have competitive fees, but any fees should be transparent and easy to understand for traders of all levels.
  3. Choice. Not everyone wants to buy and sell Bitcoin alone. The best crypto exchanges list the top coins but also stablecoins such as USDT and USDC, along with upcoming altcoins like Dogecoin, XRP, Cardano, Solana, and Polygon, among others.
  4. Security built in. We are looking for robust security measures including cold storage and 2FA as standard. Some exchanges have depositors' insurance, which protects your assets in the event the exchange faces issues with liquidity or gets breached. Ideally, an exchange should have the option to store your crypto tokens on your own hardware wallet instead of the exchange's "hot" wallet.
  5. Proof of Reserves (PoR). A means of verifying that an exchange holds enough assets to cover their users' deposits.
  6. Customer support. Prompt and effective resolution of user queries and issues is a given.
  7. Convenient deposit and withdrawal options. Availability of multiple methods for USD deposits and withdrawals, ideally with low fees for both.
  8. Excellent user experience. Suffice to say that some crypto exchanges are not designed well. We list those with an intuitive interface that caters to both novice and experienced traders.
  9. Social or copy trading. Popular with beginners, this is a way to trade crypto automatically by following the trades of someone else.
  10. Available as a native app. Crypto exchanges are generally available as an app for iOS and Android, though some are implemented better than others.
  11. Transaction speed. Crypto moves fast. Exchanges should process orders, deposits, withdrawals, and trades efficiently to avoid slippage.
  12. Tax friendly. If the exchange doesn't provide tax reports for the IRS (Internal Revenue Service), it should integrate with a dedicated crypto tax service or generate statements for easy import.

Types of crypto exchanges in the US

  1. Centralised exchanges (CEXs). Known for their liquidity and extensive cryptocurrency listings. Coinbase and Kraken are examples. Typically more beginner-friendly.
  2. Decentralised exchanges (DEXs). These non-custodial platforms facilitate direct, peer-to-peer transactions over the blockchain. Uniswap and PancakeSwap are major players. Generally less beginner-friendly.
  3. Hybrid exchanges. These offer the best of both centralized and decentralized platforms, ensuring security and a broad range of services. KuCoin and Crypto.com are examples.

FAQ

Is the US a crypto-friendly country?

The US has a complex stance on crypto. While it allows crypto trading, regulations can be stringent, vary by state, and are generally tightening up. Federal agencies like the SEC and CFTC have set regulations and guidelines for crypto businesses.

How can I cash out my cryptocurrency in the US?

Use a crypto exchange that offers fiat withdrawal options. Sell your cryptocurrency for USD and then transfer the funds to your bank account.

Yes, cryptocurrency trading is legal in the US, but each state might have its own specific regulations. Also, certain types of crypto activities and products might face more stringent regulations or bans.

Can foreigners buy cryptocurrency in the US?

Yes, both foreigners and residents can engage in cryptocurrency trading in the US, though specific requirements might apply.

What deposit methods are generally supported?

Bank transfers and credit/debit cards are the primary methods to deposit funds on a US crypto exchange.

What are the typical fees involved?

Fees vary between exchanges, but they generally include trading fees, deposit fees, and withdrawal fees.

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