Finding the proper crypto exchange for trades and investments must be emphasized, especially in the United States. There are a lot of crypto exchanges that you can find on the web. Still, only a few can be said to provide highly beneficial services and follow the regulations the United States government laid down on Crypto exchanges.
Top 5 Crypto exchanges in USA reviewed
After a careful analysis, we have compiled a list of exchanges that offer the best for crypto traders and investors in the US. We will give a breakdown of exchange features and deliver all the information needed to select the most suitable for your action. The crypto exchanges that we are looking at are;
- BYDFi – Best overall exchange in the US
- Kraken – Best for buying and selling crypto
- BTCC – Best futures exchange with 200x leverage
- Coinbase – Best for beginners
- Binance US – Great alternative
| Exchange | Cryptos | Spot Fees | Future Fees | Max Leverage | Bonus | KYC |
|---|---|---|---|---|---|---|
| 1. BYDFi | 418+ | 0.00% / 0.10% | 0.02% / 0.06% | 200x | $300 | No |
| 2. Kraken | 185+ | 0.16% / 0.26% | 0.02% / 0.05% | 50x | None | Yes |
| 3. BTCC | 88+ | 0.10% / 0.10% | 0.045% / 0.045% | 250x | $11,000 | No |
| 4. Coinbase | 250+ | 0.40% / 0.60% | 0.05% / 0.05% | 10x | None | Yes |
| 5. Binance US | 120+ | 0.10% / 0.10% | N/A | None | None | Yes |
1. BYDFi
BYDFi is a global crypto trading platform with a focus on spot and futures trading. Since its launch in 2019, BYDFi has continued to dominate in social trading, apart from its investment platform.
BYDFi is the best overall crypto exchange being used in the United States of America, following all of the policies (MSB license) and regulations placed by the government.
The platform with has over 2 million users accross 150+ countries. BYDFi is well-celebrated for its social trading platform, where traders can easily connect, share trading ideas, and learn. It also has a user-friendly user interface with all the tools and indicators for trading.
Additionally, BYDFi offers several opportunities to users, including a copy trading platform where amateur traders can copy the trades of experts and maximize profits and a rich reward system for traders and investors. It has multiple trading options with minimal fees for spot and Futures trading with leverage of up to 200x.
Lastly, the exchange is licensed in the US, as it complies with the set rules for exchanges provided by the government.
Spot trading fees: 0.1% maker and taker fees.
Futures trading fees: 0.02% maker and 0.06% taker fees.
Supported cryptos: 400+
Customer Service: 24/7 live chat.
BYDFi Pros and Cons
| 👍 BYDFi Pros | 👎 BYDFi Cons |
|---|---|
| ✅ Included in Forbes's best crypto exchanges of 2023 | ❌ Crypto staking is unavailable for users |
| ✅ Deposits and withdrawals via bank transfer or with a debit card/credit card | ❌ No copy trading |
| ✅ High security for fund protection | |
| ✅ Regulated with MSB license |
2. Kraken
Kraken is among the world’s largest and oldest crypto exchanges, with over 10 million users in approximately 200 countries. Founded in 2011 in the US, Kraken has become one of the best go-to crypto exchanges for buying and selling assets.
Kraken was one of the first exchanges to offer spot trading services.
Kraken has had one goal since its inception: to accelerate the global adoption of crypto and, for their US customers, to provide access to safe and evolving digital asset technology. It currently has a daily trading volume of $982 million.
The most exciting thing about the Kraken exchange is that it is based in the United States, with its headquarters in San Francisco, California. The exchange is regulated across the country, with only a few states as an exception.
Kraken exchange allows users to trade over 100 cryptocurrencies and 661 trading pairs. It has an official trading platform for beginners and Kraken pro, where experts can trade with up to 5x leverage. It also allows traders to earn up to 24% of their capital annually by staking their assets.
Additionally, Kraken offers users fees as low as 0% when trading. Users can acquire assets using the platform’s instant buy/sell services. Kraken also offers a crypto watch trading terminal for traders to monitor the price movement across different platforms and set price alerts.
Kraken provides users with excellent customer service and an almost unmatched security system. The exchange is one of a few that have not suffered any major cyber attack since its inception, making it a safe place for investors to store funds.
Spot trading fees: 0%/0.26% maker/taker
Futures trading fees: 0%/0.100% Maker/Taker
Supported crypto: 100+
Customer services: 24/7
Kraken Pros and Cons
| 👍 Kraken Pros | 👎 Kraken Cons |
|---|---|
| ✅ Great platform for buying and selling crypto | ❌ User interfaces can have difficulties |
| ✅ Top-notch security to ensure the safety of customer funds | ❌ Long verification process |
| ✅ High limits for deposits and withdrawals | |
| ✅ High-level Euro trading volume |
3. BTCC
When discussing being a secure and reliable exchange, you’re talking about BTCC. BTCC continues to impress traders and users worldwide as one of the oldest crypto exchanges. The exchange has recently celebrated 12 years of safe operating history. That doesn’t just speak of existence but excellence.
BTCC is a crypto exchange founded in June 2011 based in London, UK. The exchange currently boasts 1 million registered users worldwide, a 24/hr trading volume of $11.82 billion, and an interest volume of $3.93 billion. The platform has also been licensed in different countries worldwide, including the United States of America. That makes trading your assets on the BTCC exchange more than safe and reliable.
BTCC prides itself on making crypto trading reliable and accessible to everyone. It has a user-friendly interface, with a different trading interface for beginners and another for expert traders. BTCC is well-celebrated for its futures trading options. It provides traders up to 225x leverage options in futures trade, with a new forced liquidation fee for certain positions to help control liquidation risk.
Also, BTCC allows users to engage in USDT margin trade and Coin Margin trade, respectively. The platform has multiple fee structures for both futures and spot trading with minimal fees.
Additionally, BTCC recently incorporated copy trading on its platform for amateur users to begin implementing the trades of top users for better profit.
Lastly, BTCC provides users with referral rewards of up to 24% with every new trader they refer. Withdrawals can also be made using credit/debit cards or bank transfers, and you can now link your futures wallet directly to your Metamask wallet. It also provides beginner traders with a step-by-step guide on how to enjoy trading on the exchange.
Spot trading fees: 0.6% maker/taker
Futures trading fees: 0.02% and 0.04% maker/taker.
Supported crypto: BTC
Customer service: 24/7
BTCC Pros and Cons
| 👍 BTCC Pros | 👎 BTCC Cons |
|---|---|
| ✅ Licensed in several countries, including the United States, Canada, and several European countries | ❌ Poor customer services |
| ✅ Best futures trading platform for traders | ❌ Only supports BTC as a currency |
| ✅ 2FA authentication for better security | |
| ✅ Crypto deposits can be made without KYC registration | |
| ✅ It provides users with a mining pool to mine their coins |
4. Coinbase
Coinbase is the go-to place for new and advanced crypto traders in the US. It is the most trusted platform where you can buy and sell cryptocurrencies and NFTS with so much ease. Founded in 2012, Coinbase has become one of the world’s most talked about crypto exchanges.
Coinbase has a growing economy of over 100 million users in over 100 million countries across the globe and a daily trading volume of 2.2 billion dollars. It is a US-based crypto exchange and is given to enlighten US citizens on the value of Bitcoin and over 150 supported cryptocurrencies available on the platform.
The exchange is widely celebrated for its easy user interface and beginner-friendly tools for buying, selling, and exchanging cryptocurrencies. Its trading fees range from 0.00% to 0.40% for makers and 0.05% to 0.60% for taker fees on the spot market. It also has a fixed maker and taker fee of 0.00% and 0.001% for stablecoins.
Lastly, Coinbase provides users with 2-factor verification to ensure that all funds are secure and prevent cyber crimes from affecting your funds. The exchange also employs two vibrant security measures: Cold storage and multiparty computation (MPC). It also has a straightforward signup process similar to opening a new bank account.
Read our full Coinbase review to learn more about the crypto exchange.
Spot trading fees: 0.00% to 0.40% maker/0.05% to 0.60% taker.
Futures trading fees: 0.05%/0.60% maker/taker
Supported crypto: 150+
Customer service: 24/7 messaging
Coinbase Pros and Cons
| 👍 Coinbase Pros | 👎 Coinbase Cons |
|---|---|
| ✅ Licensed in the United States and many other countries | ❌ Poor customer service |
| ✅ Great exchange for beginner traders | ❌ The platform fondly controls user private keys |
| ✅ Features a native NFT market | |
| ✅ Great earning opportunities on 100+ assets |
5. Binance US
Binance is by far the largest crypto exchange in the world, with more users and regulations than any other exchange on the planet. However, US citizens cannot perform trades on the traditional platform. For this reason, Binance US was created just for US citizens and is licensed in almost all the states in the USA.
Binance. US is the arm of Binance that is registered for US citizens and residents. It currently has a trading volume of $22 million. Though the name of the exchange is owned by Binance, the operations and trading fees are very different.
Additionally, Binance US trading fees for Bitcoin are free but boasts low fees for other cryptocurrencies supported on its platform. It currently supports more than 130 crypto assets. For trading, Binance US charges fees with a maximum of 0.60%. Makers, takers, and users can receive 25% off fees if they use BNB. Crypto assets can also be bought directly using the US dollar. That removes any need to convert dollars into stablecoins.
Lastly, the exchange provides users with a 24/7 customer service live chat. However, there is no direct line to call on the phone.
Spot trading fee: maximum maker/taker fee of 0.60%
Supported Crypto: 150+
Customer Services: 24/7 live chat.
Binance US Pros and Cons
| 👍 Binance US Pros | 👎 Binance US Cons |
|---|---|
| ✅ Extremely low fees for trading | ❌ Not available in all the states of the US |
| ✅ Great mobile app for users | ❌ Investigations have been ongoing concerning its relationship with Binance |
| ✅ A vast number of supported cryptocurrencies | |
| ✅ Allows staking |
Final Words
We have compiled a list of the best crypto exchanges available to US citizens and residents. For every one of your needs, whether as a trader or an investor, there is an exchange that best meets the demands that you are looking for. Let’s observe a few of these possible needs.
BTCC, Binance US and Kraken are the best choices if you are looking for low trading fees.
For a wide range of digital assets, BYDFi, Coinbase, Kraken, and Binance US
If you want to start Copy trading, BYDFi and BTCC
For a beginner-friendly trading interface, use BYDFi, Coinbase, and BTCC.
FAQS
What’s the best exchange to trade crypto in the US?
The best platform to trade in the US is BYDFi. It is the overall exchange for trading and investment in the USA.
Is cryptocurrency allowed in the US?
Yes, cryptocurrency trade is allowed in the US. However, there are specific regulations regarding exchanges, and you must be careful to ensure that you pick the best one for your desired trades.
Which cryptocurrency has the lowest trading fees in the US?
Binance US has the lowest trading fees for users in the USA. fees on the platform are at a maximum of 0.60% maker/taker. However, no fees are attached to Bitcoin trade for all users on the platform.
Which exchange can I use as a beginner?
The best exchange for beginners in the United States is Coinbase. It provides you with the best step-by-step guide and easy processes for you to begin your trading journey.
