Find Out the Best US Crypto Exchange to Begin Your Investment Journey
Crypto Exchanges whether they are centralized or decentralized play an integral role in facilitating the swapping of cryptocurrencies for fiat currencies, other digital assets, or stablecoins.
Despite the role they play, they differ in several features and have many pros as well as cons.
Are you a resident of the USA who wants to take advantage of the dip in the market to get your hands on millions of coins to diversify your portfolio?
If you are, you should know that several crypto exchanges can serve your trading and investing needs.
All you have to do is to register for an account with a highly regulated crypto exchange.
We bring this up because there are more than 500 crypto exchanges to choose from.
While most are good, others allow millions of people to trade without fully verifying their identities.
Therefore, in your quest to invest in cryptocurrencies, you should know the risks involved in choosing any crypto exchange.
In this guide, we do a thorough review of the best cryptocurrency exchanges in the USA right now based on several factors such as regulations, fees, payment methods, security, reputation, customer service, and geographical support.
Virtual currencies are highly volatile. Your capital is at risk.
If you have identified cryptocurrencies that show potential in the market, you can choose one of the best crypto exchanges in the USA right now from the list below.
Virtual currencies are highly volatile. Your capital is at risk.
Get started with the best crypto trading platform in the USA Today
If you are in a hurry to start trading and buying cryptocurrencies in the USA now, below is a quick guide about how to get started with a cryptocurrency exchange in the USA in five (5) easy steps.
Virtual currencies are highly volatile. Your capital is at risk.
As of today, there are more than 100 places to buy cryptocurrencies in the USA.
We would like to group these places into three categories and they are cryptocurrency exchanges, mobile applications, and online payment systems. Let us take an in-depth view of what these places entail.
Cryptocurrency exchanges come in two forms and they are centralized and decentralized.
Exchanges are platforms that were created to facilitate the swapping of cryptocurrencies for fiat money, other crypto tokens as well as stablecoins. They can all be found on the World Wide Web.
Centralized exchanges normally abbreviated as CEXs are controlled by a central body that oversees all the transactions on the platform.
Examples of CEXs include but are not limited to eToro, Coinbase, Binance, BitMart, Crypto.com, OKX, FTX, CoinFLEX, Huobi Global, KuCoin, Changelly PRO, Upbit, DigiFinex, Gate.io, Kraken, and ZB.COM among others.
Per regulations, choosing one of these exchanges means that you will be subjected to Know Your Customer (KYC).
This helps centralized exchanges reduce money laundering and terrorism financing to the barest minimum.
Decentralized exchanges normally abbreviated as DEXs are not controlled by any central body.
The use of smart contracts through automated market makers (AMM) facilitates all transactions on the exchange.
DEXs are mostly popular for the trading of crypto pairs.
Examples of DEXs include but are not limited to Uniswap, Curve, Balancer, SushiSwap, Ox Native, 1inch, DODO, Bancor Network, Synthetix, ShibaSwap, mStable, Saddle, airswap, DeFi Swap, Kyber, Shell, Smoothy Finance, Sakeswap, DeFiPlaza, Integral, PancakeSwap, and Mooniswap among others.
Per the rules, you will need a crypto wallet before you can access decentralized exchanges.
Crypto wallets come with at least 12 words which can stretch out to a maximum of 24.
Without these private keys, you cannot access your crypto holdings.
Therefore, do everything in your capacity to protect your passcodes (private keys).
As of today, all exchanges have mobile applications. Some of the easiest and fastest ways to buy and sell cryptocurrencies are via mobile applications.
In a world where everyone uses or aims to use smart devices powered by Android or iOS, you can download eToro APP, Binance APP, Coinbase APP, Crypto.com APP, and Kraken APP within minutes on your phone.
Once you are done installing these applications, the next step is to fund your account and buy cryptocurrencies.
You can buy and sell cryptocurrencies through several online payment systems such as Skrill, PayPal, and Neteller.
PayPal allows you to purchase four (4) types of cryptocurrency using the PayPal app and they are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Skrill allows you to purchase more than 30 cryptocurrencies for fully verified wallet holders. Some of the cryptocurrencies on Skrill include the four aforementioned coins on PayPal in addition to Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Uniswap (UNI), Chainlink (LINK), Shiba Inu (SHIB), Polygon (MATIC), Stellar Lumens (XLM), Ethereum Classic (ETC), Cosmos (ATOM), Eos (EOS), Aave (AAVE), Tezos (XTZ), Decentraland (MANA), SushiSwap (SUSHI), Bancor Network Token (BNT), Ox (ZRX), Avalanche (AVAX), Axie Infinity (AXS), and Internet Computer (ICP).
Neteller, a subsidiary of the PaySafe Group (the same company that owns Skrill) also supports the same cryptocurrencies as Skrill Money Transfer.
Using payment methods such as bank cards (credit and debit) and bank transfers, you can buy cryptocurrencies within minutes.
Now that we understand some of the places to buy cryptocurrency, let us discuss the best ways to buy and sell cryptocurrency which will embolden you to select the right exchange.
Virtual currencies are highly volatile. Your capital is at risk.
Before settling on your best crypto exchange in the USA, you need to consider certain factors.
Some of these factors are fees, ease of use, payment methods, regulatory compliance, limits, security, liquidity, insurance, speed, geo-restriction, customer service, and reputation.
With that said, we have done thorough research on the 5 best crypto exchanges in the USA right now and an in-depth review is carried out below.
Through our search, we realize that eToro is the best cryptocurrency exchange in the United States.
The exchange was founded in 2007 and began supporting cryptocurrencies in 2014.
There are more than 20 million customers of eToro.
They contribute to at least $1 billion in daily trading volume, the exchange records.
As of May 2022, there are around 62 cryptocurrencies on eToro and the platform has been rated highly by beginners as one of the best places to buy cryptocurrencies in 2022.
Additionally, eToro is highly accessible and can be found via the World Wide Web, as well as be downloaded from the Apple and Google Play Stores by smart device users.
Unlike exchanges that support one or two ways of making deposits and withdrawals, eToro supports several payment methods.
You can make deposits through bank cards (debit and credit cards from VISA, Maestro, and MasterCard), e-wallets (Skrill, PayPal, Neteller, iDEAL, and Rapid Transfer), and bank transfer (wire and automated clearinghouses).
After more than 15 years in the centralized and decentralized finance space providing support for the trading of exchange–traded funds (ETFs), stocks, bonds, commodities, metals, and cryptocurrencies, eToro has maintained its reputation.
Unlike some exchanges that have seen breaches by hackers and others that have been associated with scams, eToro has remained free from all the negative sides of the volatile world of digital assets.
To put it simply, eToro has a great reputation as well as essential security systems to protect your custodial wallet.
As a novice or beginner trader or investor, you can take advantage of eToro's account demo. Practice with virtual funds that do not expire to gain experience and after that, you can risk real funds on a LIVE ACCOUNT.
You can also use eToro's Crypto Portfolio to make a single investment into a basket of cryptocurrencies.
These are high-yielding digital assets that can bring you decent passive income periodically.
If you are unable to make trades with confidence, you can follow the trading patterns of experts through eToro's copy trading.
You should note that this comes with a fee.
As a resident of the USA, the minimum deposit requirement is $10.
The only con associated with eToro is that its customer support system needs improvement.
Overall, eToro was our overall best crypto exchange in the USA because you can make deposits without paying any fees.
Virtual currencies are highly volatile. Your capital is at risk.
Another best way to buy crypto in the USA is through Coinbase. Coinbase was founded in 2012 and is one of the pioneer cryptocurrency exchanges.
Coinbase launched a subsidiary called GDAX in 2015 and rebranded it to Coinbase Pro in 2018.
Coinbase is the largest cryptocurrency exchange in the USA based on daily volume.
Recording more than $1 billion as daily trading volume, Coinbase serves more than 80 million customers from over 100 countries across the globe.
There are more than 130 cryptocurrencies and over 400 markets on the platform.
As one of the safest ways to buy cryptocurrency USA, Coinbase supports multi-factor authentication that helps secure your custodial account.
There is also a Coinbase Wallet (an offline or cold wallet) that can store all your crypto holdings in a safe and secure environment.
Coinbase can be accessed via its online address on the World Wide Web.
Additionally, you can download the Coinbase APP on the Apple Store for iOS-powered smart devices, and Google Play Store for Android-powered smart devices.
Payment methods on Coinbase include debit cards, e-wallet PayPal, and bank transfers.
Coinbase is a user-friendly platform that makes it easy to buy cryptocurrencies in addition to being a library for educational material related to the decentralized finance space.
Coinbase Staking allows you to earn periodical returns on your investments.
Coinbase Learn allows you to earn small amounts of your preferred cryptocurrency by answering questions about their projects.
The cons of Coinbase include a complex fee structure and fees that are relatively higher than other exchanges.
Aside from this, other e-wallets such as Skrill, Neteller, and co are not accepted.
Virtual currencies are highly volatile. Your capital is at risk.
Binance is one of the best sites to buy cryptocurrency in the USA. Binance came into the cryptocurrency exchange space in 2017.
In the last three years, Binance has been the biggest exchange by trading volume.
Binance records a minimum of $10 billion in volume daily.
There are more than 20 million customers on the platform.
With more than five (5) years of trading experience, Binance has been rated highly by its users.
There are more than 300 cryptocurrencies on the platform.
Binance has more than 1,300 markets that allow users to trade crypto against a range of assets.
Due to the level of sophistication of the platform, Binance has advanced trading charts as well as data graphs that are great for experienced traders.
If you want an exchange with high-speed trade execution, you should consider Binance.
This is because the platform can process around 1 million orders per second.
Binance can be accessed in three ways (Android, iOS, and through the Web).
You can make deposits through bank cards which come with around 4.99% fees.
With that said, you can choose other options such as direct crypto deposits via TrustWallet as well as bank transfers.
Using the necessary security encryptions, Binance protects crypto holdings in your custodial wallet.
Binance allows staking on their platform. By staking your preferred coin, you can make periodical returns.
Overall, Binance is one of the cheapest platforms to buy cryptocurrency in the USA.
The cons found on the platform were that e-wallets such as PayPal, Skrill, and others were not supported.
Aside from this, many beginners have found the platform complex.
Crypto.com was founded in 2016 to support the growing needs of traders and investors that were into cryptocurrencies.
Crypto.com is among the safest places to buy cryptocurrencies in 2022.
The platform records a minimum of $1 billion in daily trading volume.
What's more, there are over 50 million active users of the exchange, from more than 100 countries across the globe.
Overall, you can trade more than 250 digital assets and over 300 markets on the platform.
As one of the websites to buy cryptocurrency in the USA, you can find Crypto.com via their online address.
Additionally, you can use Crypto.com through the world's fastest-growing Crypto App in the form of the Crypto.com APP which can be downloaded from the Apple Store as well as the Google Play Store.
As one of the beginner-friendly exchanges that are extremely easy to use, Crypto.com supports payment methods such as credit/debit cards.
As one of the best crypto-friendly banks in the USA, you can make deposits via bank transfer through supported financial institutions such as Bank of America, Goldman Sachs, Morgan Stanley, Chase, and Ally among others.
You can also make direct crypto deposits via Crypto.com Pay by using wallets that support Ethereum-based tokens such as WalletConnect and MetaMask.
Crypto.com uses appropriate security measures that are up to speed with industry standards to protect your custodial account.
You can use the Crypto.com VISA card to buy goods from several merchants online and get up to 8% back.
Additionally, you can earn decent yields through Crypto.com staking.
You can receive rewards of up to 14.5% on your digital assets.
The cons found on Crypto.com are related to fees and customer support.
Customer support needs improvement and fees are relatively higher in comparison to other cryptocurrency exchanges.
Virtual currencies are highly volatile. Your capital is at risk.
Surely, there are no people who have not heard about exchangers without registration, any restrictions and difficulties. Since there are those who are faced with such a phenomenon in the world of finance as a crypt for the first time, it is most likely very important for users to get on an adequate crypto exchange that will not cause unnecessary worries. It is LetsExchange that can be considered as a multi-currency exchanger, which is considered a fresh novelty among the world's crypto exchanges.
What features and advantages of the exchanger should be emphasized?
The platform is somewhat similar to an online store – the appearance is strict. But there people trade cryptocurrencies of different types. At the same time, the main values of the exchanger are the fact that you can change the crypto units for more than 240 different types of cryptocurrency. Let's figure out other important advantages:
Another feature is that the exchanger does not store funds and does not keep personal information about the client. Absolutely all exchange processes are carried out transparently, and the trading view of the exchange, as its basis, helps to see the price chart for one or another cryptocurrency and its current price in real time.
For today's customers, speed really plays a role. The faster the order is executed when exchanging cryptocurrency, the more time the client saves. Godex.io is a well-known exchanger in many parts of the world, which is used in the modern market. It is considered mega faster than a crypto exchange and is loved by most users and crypto holders. It takes from 5 to 30 minutes to execute orders – no more than that.
What are the main features and advantages of the exchanger?
Godex is considered to be the best anonymous crypto exchange. The reason for this is the excellent secure foundation of the framework on which it is built. Users love it because you can exchange crypto in any amount and at the lowest commissions. Other advantages should also be emphasized, among them are the following ones:
It is worth emphasizing that the more money gets exchanged, for example, more than 1 BTC, the more time the system needs to process information. In principle, this is quite logical. The time depends on the speed of confirmation in the decentralized network. But as for reliability, it depends on modern security protocols and physical protection of servers, which were thought out in advance and taken by the developers when creating the service as a whole.
Based in San Francisco, Kraken was founded in 2011. As one of the pioneer cryptocurrency exchanges, Kraken is one of the best ways to buy cryptocurrency.
There are more than six (6) million clients on the exchange.
Kraken supports around 190 countries.
Per the report of the biggest cryptocurrency exchanges by daily trading volume by Statista, Kraken is always among the top 50 when this metric is considered.
The exchange records at least $1 billion in daily volume.
There are more than 100 cryptocurrencies on the exchange which have been broken down into more than 400 markets.
The payment method accepted by Kraken is bank transfers through an automated clearinghouse (ACH), Single Euro Payments Area (SEPA), and SWIFT.
As one of the best websites to buy cryptocurrency, you can find Kraken on the World Wide Web. The platform can also be accessed via Google Play and Apple Stores.
Several experienced traders have found the exchange highly resourceful. More than 95% of cryptocurrencies are held in cold storage freeing your holdings from any malicious attacks on the internet.
Due to recent upgrades, it is extremely easy to create an account, become a fully verified Kraken member, and buy cryptocurrencies.
Kraken offers competitive fees and is still considered one of the easiest ways to buy Bitcoin.
Some of the cons found through the use of Kraken are related to beginner-friendly issues.
Kraken's user interface favors experienced traders and not beginners.
You need to know the importance of certain factors when searching for the best exchange in the USA.
Let us discuss some of these factors before you invest any amount of money in cryptocurrencies through an exchange in the USA.
Although we pointed out that cryptocurrency exchanges come in the form of centralized and decentralized, we will urge you to settle on CEXs.
Centralized exchanges are highly regulated which ensures the safety of your investments.
Exchanges such as Coinbase, eToro, and Binance have the authorization to operate from the Financial Institutions Regulatory Authority (FINRA).
In addition to this, they are supported by the Security and Exchanges Commission (SEC).
Should something bad happen to your account, due to their adhering to regulations, it will become easy for you to retrieve all your holdings.
Per the report of the Federal Trade Commission (FTC), hackers and scammers continue to make off with billions of dollars annually.
This is because they have seen a weakness in certain CEXs and DEXs and they exploit them to the best of their abilities.
This is the primary reason why you should choose exchanges that prioritize the safety of your account.
Aside from the normal password, you create during the signing up process, you should be able to use other methods such as multi-factor authentication.
With 2FA, should a third party get access to your password, the person must also be knowledgeable about your pin code or private keys before they can successfully log in to your account.
After operating for more than 15 years, eToro has not been associated with any hacks.
Neither has anyone reported being scammed by a third party through this platform.
Therefore, we can conclude that eToro is the safest place to buy and sell cryptocurrencies.
You may choose an exchange based on its popularity.
With that said, you should be more interested in choosing an exchange that supports payment methods that are in line with your preferences.
Some people do not want to leave details of their bank cards on an exchange. As a result, they prefer making deposits through online payment systems such as Skrill, PayPal, or Neteller.
In the same way, others prefer bank cards and bank transfers to e-wallets.
Find your best payment method and find an exchange that supports it.
There are three types of fees that many novices or beginner traders do not factor into perspective before signing up on their preferred exchange.
There are fees associated with deposits, transactions, and withdrawals.
If an exchange charges 4.99% fees on deposits and you want to buy $100 worth of cryptocurrencies, you should deposit $105.
If an exchange charges for withdrawals, you should be prepared to incur some costs on your earnings.
Many beginner traders have had to learn the hard way.
With $100, they felt they could buy more coins, only to see their $100 slashed to around $95.
eToro allows its customers to make deposits through several payment methods for free.
Therefore, if you have $100 on Skrill or PayPal, you can upload the funds on eToro, and start buying cryptocurrencies.
Whatever happens, you are going to need help with certain things on an exchange.
It will only serve you right if you use a platform that supports many languages.
Once you need something, your queries could be explained within seconds and minutes.
In the era of the internet, it is extremely easy to change your location through your internet protocol (IP) address.
This is how millions of people continue to access social media platforms that are banned in their respective countries.
Using virtual private networks (VPNs), you can change your location to any country in the world.
With that said, using a social media account and cryptocurrency exchange are not the same.
You do not need to go through verification. Neither do you have to deposit funds into your social media account?
Should you create an account with an exchange that does not support your country, your account will be locked on suspicion of fraud, and money laundering.
No matter the worth of your holdings, you will not get your account back.
Use exchanges that support your country.
Trading digital assets should not be that hard.
Settle on a beginner-friendly platform.
You can research exchanges through search engines and find the best place to buy crypto based on ease of use.
Once you can navigate the platform easily, you should know you have found one of the easiest places to buy and sell cryptocurrencies.
Virtual currencies are highly volatile. Your capital is at risk.
In the above guide, we have discussed everything you need to know about the best places and exchanges in the USA to buy cryptos in 2022.
We started by highlighting the top 5 best platforms. We also explained why each exchange makes it to this list as well as what they all will most likely be worth dealing with. The guide then looked into what a crypto exchange refers to and discussed what to look for when determining if the exchange is regulated.
We concluded by providing you with a step-by-step guide on how to start buying and selling cryptos in the USA. Go through this list again, identify the crypto you wish to invest in, and then follow this buying guide to acquire some.
Virtual currencies are highly volatile. Your capital is at risk.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.