Who Should Make Use of This Comparison?
This comparison is perfect for anyone that is new to the wonderful world of investing or trading in cryptocurrencies. The sector has enjoyed a blaze of publicity in recent months, and new investors are getting into it on a regular basis. If you want to find the best exchanges for Bitcoin or the best cryptocurrency exchanges for all manner of altcoins, you have come to the right place.
This cryptocurrency exchanges list is also aimed at seasoned crypto investors. New exchanges are being launched on a regular basis, while the top cryptocurrency exchanges are continually fine-tuning their offerings in order to stand out from the crowd. You could therefore get a better rate or an improved level of service by switching crypto exchanges. Our comparison helps you assess the relative strengths and weaknesses of all the best US crypto exchanges and ensure you have made the right choice.
How to Identify the Best Crypto Exchanges USA
There are several key characteristics that you should look out for when trying to identify the best crypto exchanges US for investing and trading:
Ease of Use
Cryptocurrency exchanges should offer a polished user experience. They should be designed in a clear and intuitive manner, and make trading as quick, simple and effective as possible. That is equally important for novices seeking a fool-proof experience and veteran traders that need to operate quickly. Registration and verification should be fast and easy, and the site should provide a wealth of tools and information to assist you.
Security
Rock-solid security really is crucial for anyone looking for US crypto exchanges. The site you choose should not have been subjected to any notable security breaches in recent years, and it should use the latest SSL encryption software. Two-factor authentication or the creation of custom PIN codes are also hallmarks of crypto trading US sites that take security seriously.
Trustworthiness
The world of crypto investing is still relatively new and regulation is patchy, so it is imperative that you stick to reliable, trustworthy exchanges with high liquidity. A number of shady operators are bidding to scam you, so we highly recommend you use the respected, established crypto exchanges USA listed on this page. It helps to use popular sites that are legally recognized by government agencies like the SEC. The largest Bitcoin exchanges by volume generally reach that position by building up trust among users.
Low Fees
Many people buy crypto in the hope of landing a profitable investment, but your profits will be eroded by onerous fees on some Bitcoin exchanges. Stick to sites that are transparent about the fees they charge and the services they provide, and try to use the exchanges that charge the lowest fees. Binance is an example of an exchange with low fees, and you can also check out eToro and Robinhood.
Strong Support
The best cryptocurrency exchanges have a strong customer service team working 24/7. This is important in the event that you have an issue with a transaction. They also have large development teams working to constantly improve the offering and ensure that safety and security levels remain watertight. The best exchanges continually increase the range of cryptocurrencies that they offer too.
Types of Cryptocurrency Exchange
Before identifying the best site to buy crypto currency online for your needs, or even trying to decide what would be the best crypto to buy in USA for you, you must understand the two broad options at your disposal. The first is a centralized exchange, which runs on a private server. These crypto exchanges typically handle high volumes of active trading and have liquidity. Coinbase, Kraken, Binance and Gemini are examples of centralized exchanges, which are essentially retail exchanges.
The other key option is a decentralized exchange. These do not handle funds, and they are simply used to facilitate wallet-to-wallet trading. Some crypto investors prefer these decentralized Bitcoin exchanges due to the added privacy and security. There are also peer-to-peer exchanges, but they are more popular in countries without a strong traditional banking structure, and they are not so common in the USA. Instant exchanges and derivatives exchanges are also available, but the main two choices are centralized and decentralized.
Editor’s Recommendation – The Best Crypto Exchange for the US
Coinbase is a very strong crypto exchange platform that excels across a number of key criteria. It boasts very high liquidity, it offers a large selection of altcoins to choose from and the user experience is extremely simple. The registration and verification process is quick and simple, and the design is elegant and minimalist.
Coinbase has not suffered the sort of huge hacks that have hit rivals like Mt. Gox, and it generally provides strong levels of security. It is a large and popular exchange, with high levels of transparency and trustworthiness and a strong support team. Perhaps the only downside to Coinbase is that it charges higher trading fees than some sites. Read more in our Coinbase review.
Binance provides lower trading fees, but its withdrawal fees are generally higher, it does not accept dollar deposits and it requires you to invest in Binance Coin to fully take advantage of those low trading fees. Our Binance review highlights a number of its strengths, and you can check out a Kraken review for an alternative option, but Coinbase is probably the best all-round choice for crypto investors seeking a simple and effective user experience. It is a centralized exchange, so you might consider a platform like Bisq – which was formerly known as Bitsquare – if you would prefer a decentralized exchange.
How Our Experts Test Bitcoin Exchanges
Our expert reviewers sign up for accounts at all the different exchanges on the market and put them through their paces. They will monitor the ease, speed and effectiveness of the registration and verification process. The reviewers then assess how strong the user experience is, taking into account the site design, the analytical tools available, the simplicity of the navigation and much more.
They will make trades on each exchange and test the deposit and withdrawal process. The reviewers examine the fees charged for trades and withdrawals and compare them against the market. They assess the number of cryptocurrencies available for trading. They interact with customer service representatives and gauge how strong the level of support available is. They monitor waiting times, operating hours and the general helpfulness and knowledge of the representatives.
We also perform a rigorous analysis of each exchange, focusing on transparency, ownership, trustworthiness and reliability. We check for any security breaches and how strong the development team is. We talk to crypto users and traders to gain their feedback too. Once we have compiled all of this information, we put it all together on our Bitcoin exchange guide and allow you to find high-quality sites by reading our crypto reviews. We only recommend safe, reputable operators with a long history of honesty and dependability.
Finding the Right Crypto Exchange for You
First you need to work out whether you want to use a centralized or decentralized exchange. Most people opt for the former. Then you should figure out the level of trading you expect to conduct, the number of coins you wish to trade and the level of advanced charting you wish to benefit from. That will help you ascertain your key priorities.
Many users prefer to stick to Coinbase to benefit from its large range of trading pairs, extremely simple user experience, reasonable withdrawal fees and high liquidity. Beginners might like Cash App due to its simple interface, friendly customer service and other trading categories. Robinhood is another popular site among beginners, or you can check out Forex.com. Slightly more advanced users might prefer Binance in order to enjoy more advanced charting, lower trading fees and a large range of altcoins. Anyone that likes the idea of a decentralized platform that does not run KYC checks could go for Bisq. Each Bitcoin exchange for cash has pros and cons, so work out your priorities, read our reviews and make your decision.
How to Sign Up at Cryptocurrency Exchanges
It is generally very simple to set up an account at the leading sites on our Bitcoin exchanges list. You simply follow these steps:
- Visit the site and click “Get started” or “Register”
- Enter your name and email address, choose a password, and agree to the terms
- Click “Create Account”
- Verify your email and phone number by entering the codes sent to you
- Add in any personal information required
- Some sites require you to verify your identity using ID verification, and you might have to prove that you are aged 18 or older
- Link a payment method and start trading
Which Cryptocurrencies Should You Trade?
Bitcoin is the most popular cryptocurrency by a considerable margin, and people constantly monitor the Bitcoin exchange to dollar rate or the Bitcoin exchange to euro. Our Bitcoin exchanges list always proves popular, as millions of people are interested in Bitcoin exchanges’ prices, services and usability. There are several high-quality crypto wallets to choose from.
Yet you have many more choices at your disposal beyond Bitcoin, and the best cryptocurrency exchanges allow you to trade in a broad range of altcoins. Ethereum is another popular coin. It has a shorter block time than Bitcoin and that allows for quicker transactions, while ETH is a lot cheaper than ETC. The Ethereum blockchain has a number of uses, especially in the field of smart contracts, and ETH is very versatile. Tether is the third largest cryptocurrency by market cap. It tracks the price of the US dollar, making it a lot less volatile than Bitcoin and other altcoins.
Ripple is a slightly different cryptocurrency, as it does not require crypto mining, while Litecoin, Bitcoin Cash, Stellar, Polkadot, Cardano, Chainlink, Bitcoin SV, Binance Coin and Monero are among the hundreds of other coins you can explore. They all have different uses, strengths and weaknesses, so make sure you conduct thorough research into each coin before investing in it.
Ultimate Tips for Using Bitcoin Exchanges
Follow these tips when using Bitcoin exchanges:
- Understand the Bitcoin market by regularly reading the news and remaining abreast of regulation changes, security hacks and macroeconomic trends that can affect the price.
- Choose how to trade. Most people simply buy Bitcoin, but you opt for spread bets and CFDs instead, or mine Bitcoin.
- Build a trading plan. Work out your goals, hone your trading style and calculate your attitude to risk.
- Manage your level of risk by setting out the parameters of your trades. You can use tools like limit-close orders to lock in a profit once the market moves in your favor, or stop-loss orders to automatically close your position if the market moves against you to a certain degree. Diversify your investments in order to spread your risk.
- Devise a Bitcoin trading strategy. Consider HODLing (holding on for dear life), hedging, trend trading, dollar cost averaging or a Bitcoin breakout strategy.
- If you want to use your BTC for regular transactions, you should invest in a quality hardware wallet for safe storage.
- Use our reviews to find your perfect crypto exchange, but regularly return to this site to check whether you could get a better level of service elsewhere, as this sector moves quickly.
Conclusion
The best cryptocurrency exchanges provide an impeccable user experience, allow you to trade a broad range of coins and charge reasonable fees. There is no such thing as the perfect Bitcoin exchange, as each one has different strengths and weaknesses, but if you work out your particular goals and trading strategy you can quickly arrive at the best exchange for your needs. Make sure you stick to the established, reputable exchanges listed on this page, as a number of unscrupulous operators will lure you in with exciting offers and then scam you. You should also bookmark this page to ensure you are always using the best available crypto exchange.
