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6 Best Crypto Exchanges for US Customers in 2023

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At present, the global number of cryptocurrency users stands at an impressive 300 million. Within this vast count, a staggering 36.5 million users are located in the United States.

Individuals in the US who are specifically seeking US-based cryptocurrency exchanges may find themselves pondering over several questions. Which exchange should they choose? Which one offers the optimal options for buying, selling, and trading cryptocurrencies? What are the associated fees, and which cryptocurrencies do they support? Which ones are the best crypto exchanges overall?

If these queries resonate with you, you’ve arrived at the right destination. Allow us to guide you through an exploration of the top six best crypto exchanges in the USA, unraveling their key features along the way.

Best Crypto Exchanges for US Customers

  1. Binance.US
  2. CEX.io
  3. Coinbase
  4. Gemini
  5. Kraken
  6. Voyager

Let us look at each of these American-based crypto exchanges and their key features:

1. Binance.US

One of the most trusted and best crypto exchanges in the world, Binance, has a specific version that is exclusively available for US residents. The San Francisco-based platform, Binance US was established in order to meet unique US regulatory standards for cryptocurrency exchanges.

Binance.US was launched in September 2019 and now accounts for about 15% of all traffic on the site worldwide.  The platform’s UI is perfect for professional traders and crypto investors who want more sophisticated trading capabilities. However, it has a relatively small variety of cryptocurrency assets. 

However, it’s vital to keep in mind that although Binance is an American-based crypto exchange, residents of New York, Hawaii, Idaho, New York, Texas, and Vermont are not yet eligible to use the platform.

Key Features

  • KYC: Binance.US requires a government-issued photo ID and a selfie to validate an account.
  • Limitations: Users of Binance in the US can deposit or withdraw up to $5,000 USD, with additional deposits or withdrawals increasing this limit to up to $30,000 and more. 
  • Fees: Binance US provides 0.1% spot trading commissions and 0.5% instant buy or sell commissions.
  • Fiat support: USD
  • Deposit and withdrawal: ACH
  • Cryptocurrencies: 80+ cryptocurrencies supported, including:

2. CEX.io

With the recent acquisition of money transmitter licence in nine jurisdictions throughout the US in 2019, CEX.io is a relatively recent addition to the growing list of cryptocurrency exchanges that are compatible with US regulations. Due to the platform’s new licence, it is now possible to use it in more states than just those where money transmitter licensing is not necessary.

CEX.io is among the best crypto exchanges for US residents, as it is available in 49 states and Washington DC except New York. This London-based exchange doesn’t support a few cryptocurrencies from the US, Canada, China, and South Korea due to the regulations of the country. 

CEX.io provides two distinct trading platforms geared for both new and experienced traders. The brokerage service offered by CEX.io makes it easier for casual investors to purchase cryptocurrencies, while expert traders profit from a powerful, feature-rich trading interface.

Key Features

  • KYC: Higher tiers need address verification, while lower ones only require government-issued ID verification.
  • Limitations: Basic verified accounts have a daily limit of $1,000 for bitcoin purchases and withdrawals. Address confirmed accounts can withdraw up to $50,000 and buy up to $10,000 worth of bitcoin daily.
  • Fees: Trading commissions CEX.io’s trading commissions follow a maker/taker paradigm and range from 0.16 to 0.25%. SEPA funding costs are 2.99%, while withdrawal fees, based on thetype of  withdrawal, are 3 percent plus a $25 service charge.
  • Fiat support: USD, EUR, GBP, and RUB
  • Deposit and withdrawal: ACH transfers and SWIFT
  • Cryptocurrencies: 100+ cryptocurrencies supported, including:
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Cardano (ADA)
  • Cosmos (ATOM)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Tether (USDT)
  • Tezos (XTZ)
  • Tron (TRX)
  • Uniswap (UNI)
  • Zilliqa (ZIL)

3. Coinbase

Coinbase is one of the best US-based crypto exchanges. It provides a very user-friendly interface and trading environment. Coinbase, a San Francisco-based company founded in 2014, is a fantastic option for both novice traders and seasoned investors.

More than 100 nations have users on Coinbase, and every quarter, clients exchange almost $309 billion worth of goods. 13,000 financial institutions are supported by the extensive cryptocurrency ecosystem that Coinbase oversees.

In addition to providing a stand-alone bitcoin wallet service, Coinbase operates two different trading platforms. You may probably find everything you need to create and maintain a bitcoin portfolio or trading strategy among the variety of goods offered by Coinbase.

Key Features

  • KYC: When validating an account with Coinbase, US citizens must also provide a selfie and a valid government-issued ID.
  • Limitations: US citizens are permitted to trade an unrestricted amount of bitcoin on Coinbase every day, although withdrawals are typically capped at $25,000.
  • Fees: With taker costs ranging from 0.05% to 0.25% and maker fees ranging from 0% to 0.15%, Coinbase does not currently provide the lowest affordable fees on the market. However, the excellent degree of reliability and customer support outweigh the relatively typical rates.
  • Fiat support: USD, EUR, and GBP
  • Deposit and withdrawal: ACH may be used for both withdrawals and deposits. Wire transfer withdrawals are subject to a $10 cost, while credit or debit card transactions are charged an extra 3.99% fee.
  • Cryptocurrencies: Over 100 cryptocurrencies may be traded using Coinbase, and more cryptocurrencies are often added to the list. There are too many to mention all of them, but here are a few of the most widely used ones on Coinbase:
  • Algorand (ALGO)
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • DAI (DAI)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Shiba Inu (SHIB)
  • Polkadot (DOT)
  • Uniswap (UNI)
  • Polygon (MATIC)
  • Solana (SOL)
  • Stellar Lumens (XLM)
  • SushiSwap (SUSHI)
  • USD Coin (USDC)

4. Gemini

Based in New York City, Gemini is among the few best US-based crypto exchanges that comply entirely with NY state law. Gemini, a heavily regulated cryptocurrency trading company founded by the Winklevoss brothers in 2014, collaborates closely with authorities to maintain compliance, which can render the Gemini verification system challenging.

Because all USD deposits to Gemini are FDIC guaranteed, Gemini is a desirable choice for institutional traders and large-scale cryptocurrency dealers. Gemini is the safest choice for cryptocurrency dealers in the US because it presently holds more than 1% of the total global Bitcoin volume and is governed by New York banking law.

Key Features

  • KYC: Gemini maintains strict ID verification rules, requiring a selfie, a government-issued picture ID, and address confirmation with a recent utility bill.
  • Limitations: Although Gemini does not have trading caps, it does cap the daily amount of bitcoin that may be bought using a credit or debit card at $500. For verified users, there are no restrictions on wire transfers or transactions involving digital assets.
  • Fees: Gemini has a maker/taker fee system with a starting point of 0.25%.
  • Fiat support: USD, HKD, CAD, and AUD
  • Deposit and withdrawal: Gemini enables wire transactions, credit/debit card purchases, and local US bank account transfers. 
  • Cryptocurrencies: A stunning 26 USD trading pairs are available on Gemini, including ones for BTC, BCH, ETH, ZEC, LTC, OXT, LINK, and DAI.

5. Kraken

One of the oldest cryptocurrency exchanges to serve the United States, Kraken provides a very simple method of exchanging cryptocurrencies. In comparison to Coinbase, Kraken largely focuses on professional cryptocurrency traders and provides sophisticated trading services, including margin trading.

The Kraken platform may only be accessible online, although a mobile version is now being tested in Germany, Spain, and the Netherlands. All US states, with the exception of Washington State and New York, allow access to Kraken.

Key Features

  • KYC: For US-based traders, Kraken demands government-issued identification and address confirmation.
  • Limitations: Kraken bases its trading and withdrawal restrictions on a user’s degree of verification; daily limits for cryptocurrency withdrawals start at $5,000 and go up to $10 million each day, based on trade volume and level of verification
  • Fees: Trading costs For traders with less than $100,000 in monthly transaction volume, Kraken trading fees range from 0.14% to 0.26%.
  • Fiat support: USD, CAD, EUR, GBP, AUD, JPY, and CHF 
  • Deposit and withdrawal: FedWire and SWIFT
  • Cryptocurrencies: 110+ cryptocurrencies supported, including:
  • Bitcoin (BTC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Ripple (XRP)
  • Solana (SOL)
  • Stellar Lumens (XLM)
  • Sushi (SUSHI)
  • Uniswap (UNI)

6. Voyager 

Voyager is a US-based cryptocurrency brokerage platform that prioritizes user convenience and affordability. Through its user-friendly mobile app, available for both iOS and Android devices, Voyager offers a seamless trading experience for a wide range of digital assets. What sets Voyager apart is its commission-free trading model, allowing users to engage in cryptocurrency trades without incurring any trading fees. However, it’s important to note that fees may apply for activities like depositing, withdrawing, or transferring funds.

The platform boasts an extensive selection of cryptocurrencies, including popular options such as Bitcoin, Ethereum, Litecoin, Ripple, and more. Voyager continually expands its offerings, regularly adding new cryptocurrencies to the platform.

Key Features:

  • Trading Experience: Voyager offers a mobile app available for both iOS and Android devices.
  • Commission-Free Trading: One of Voyager’s standout features is its commission-free trading model. This means that users can trade cryptocurrencies without paying any trading fees. However, it’s important to note that there may be fees associated with depositing, withdrawing, or transferring funds.
  • Competitive Prices: Voyager aims to provide competitive prices for cryptocurrencies by accessing multiple exchanges to find the best available rates.
  • Security Measures: Voyager emphasizes security and employs various measures to safeguard user funds. These include using cold storage wallets for storing cryptocurrencies and implementing advanced security protocols.
  • Wide Range of Cryptocurrencies: Voyager supports a broad selection of cryptocurrencies for trading including:
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Cardano (ADA)
  • Stellar (XLM)
  • Chainlink (LINK)
  • Polkadot (DOT)
  • Uniswap (UNI)
  • Dogecoin (DOGE)
  • VeChain (VET)
  • EOS (EOS)
  • Tezos (XTZ)
  • Cosmos (ATOM), and more

The Bottom Line

Determining the best crypto exchanges in the USA is subjective and depends on individual preferences, requirements, and trading strategies. Several reputable exchanges cater to the US market, each with its unique features, security measures, supported cryptocurrencies, and user interfaces.

It is crucial for users to conduct thorough research and consider factors such as reliability, security, customer support, trading fees, supported cryptocurrencies, liquidity, regulatory compliance, and user reviews before selecting an exchange.

Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, tax, legal or financial advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

Best Crypto Exchanges For Us Customers – FAQs

1) What is the safest platform to buy cryptocurrency?

Gemini is the safest and best exchange for crypto. Industry-standard security measures that Gemini offers include two-factor authentication, whitelisting of wallet addresses, and the ability to inspect and authorize login devices. The goal of this procedure is to lessen incidents of scams on Gemini.

2) Which exchange has the most crypto?

If you’re looking for a user-friendly network that offers a lot of cryptocurrencies, Coinbase might be the best exchange for crypto for US customers.

3) Can I use Kraken in the US?

All Americans, with the exception of those who reside in New York and Washington, D.C., can access Kraken. U.S. citizens are not permitted to possess, deposit, or trade the following cryptocurrencies on Kraken, including Ankr (ANKR), and Bancor (BNT).

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