Top Crypto Exchange In the USA

So, you want to trade Bitcoin and cryptocurrency in the USA legally. You are a US citizen and want to buy and sell Bitcoin and other cryptocurrencies such as Ethereum, Cardano, XRP, and Dogecoin. The first thing you want to know is, what is the best cryptocurrency exchange for US citizens.

There are hundreds of crypto exchanges available to US citizens and more and more crypto exchanges are popping up each month. In this article, we will see the top 5 crypto exchanges for US citizens. The top rating of the exchanges are based on the size of the exchange in terms of trade volume, the number of users, product offerings, exchange fees, user interfaces, and easy to sign up and trade. We will see the pros and cons of these exchanges.

The following table compares top crypto exchanges in the US and their various features and services.

	Coinbase	Binance.us	Robinhood	Crypto.com	Kraken	Gemini
Founders	Brian Armstrong and Fred Ehrsam	Binance	Vladimir Tenev, Baiju Bhatt	Bobby Bao, Gary Or, Kris Marszalek, Rafael Melo	Jesse Powel	Cameron and Tyler Winklevoss
Year founded	2012	2019	2013	2016	2011	2014
Headquarter	Wilmington, DE	San Francisco	Menlo Park, CA	Hong Kong	San Francisco	New York
Employees	1,249	2844	1,281	900	1,300	480
Fees	0.5% - 4.5%	0.1% - 5.0%	0	0.1% - 0.4%	0.0% - 0.26%	0.5% - 3.99%
Account Min	$2	$10	0	0	$1	0
Deposit types	ACH, Debit Card, Wire Transfer, PayPal	ACH, Debit Card, Wire Transfer	ACH	ACH, Debit, Credit Card, Wire Transfer	ACH, Debit, Credit Card, Wire Transfer	ACH, Debit, Credit Card, Wire Transfer
Min trade	$2	$10	$1	$1	$10	0.00001 bitcoin/ 0.001 ethereum.
Staking rewards	Yes	Yes	No	Yes	Yes	Yes
UI/UX	Easy to use	Easy to use	Easy to use	Easy to use	Easy to use	Easy to use
Mobile App	YES	YES	YES	YES	YES	YES
No. of Cryptocurrencies	56	50+	Less than 10	137	Less than 10	40
Trading pairs	60+	50+	NA	Most	50+	19
Personal Digital Wallet Allowed?	Yes	Yes	No	Yes	No	Yes
Customer Service	Email and phone	Email-only	Email and social media	Email-only	Email and social media	Email and social media

The following table compares various fees of the listed crypto exchanges.

	Coinbase	Binance.us	Crypto.com	Kraken	Gemini
Bank Account	1.49%	Free	Free	$4 to $35	1.49%
Wallet Conversion Fee	1.49%	0.75%	Free	Free	1.49%
Debit/Credit Cards	3.99%	3% to 4.5%	2.99% - 3.99%	3.75%+€0.25	3.49%
ACH Transfer	Free	Free	Free with $20 minimum	1.7%+$0.10	Free
Wire Transfer	$10 deposit, $25 withdrawal	$15	Free with a minimum of $5,000	Free to $10 deposit, $4 to $35 withdrawal	Free up to 10 per month
Crypto Conversion	Up to 2%	NA	Free	0.09% to 0.015%	Free
Trades	Up to 2% spread. From $0.99 to $2.99 fixed.	0.1% spot, 0.5% instant buy/sell	0.04% maker, 0.10% taker (high end 0.40%)	0% to 0.05% based on rolling 30-day volume	0.5%, Fee of $0.99 to $2.99 based on the amount of 1.49% for trades over $200

 

Coinbase

Coinbase is the most popular and the largest crypto exchange in the US based on its volume. Coinbase, headquartered in New York, was founded in 2012 by Brian Armstrong and Fred Ehrsam. On April 14, 2021, Coinbase went public on the Nasdaq and became one of the largest IPOs with almost $100 billion. Currently, Coinbase is valued at close to $60 billion.

For beginners and retail investors, Coinbase.com and Coinbase app provides a simple and easy-to-use interface. The website and app, both have simple navigation and easy options to trade crypto. The Trade page shows various crypto assets listed on the exchange with their current price, market cap, % change, and Buy option.

The platform also has simple options to buy, sell, and convert after a bank account or credit card is linked to the account.

The home page lists your current portfolio and your watch list.

You can also see your portfolio and recent transactions.

For average users, coinbase.com and Coinbase apps are great tools but for sophisticated traders, Coinbase Pro is the platform. Coinbase Pro allows traders to watch live orders and trade history, buy and sale, and place trades.

Pros

1. Modern platform and mobile app
2. Publicly traded company in the US
3. Low trading fee
4. Major popular cryptocurrencies are available to trade and more are being added
5. Highly secure
6. Advanced platform, Coinbase Pro for sophisticated traders with low fees for high transactions
7. Modern mobile app with secure login
8. Supports ACH, Debit Card, Wire Transfer, and PayPal
9. Once the account verified, Debit Card and PayPal funds are available instantly

Cons

1. Not all cryptocurrencies available to trade
2. Does not serve Hawaii residents

 

Binance.us

Binance.us is one of the newer US-based crypto exchanges which is managed and run by the world’s top crypto exchange, Binance. Binance being the top exchange in the world, Binance.us offers one of the best rates, low trading fees, and provides trading of a wide range of cryptocurrencies.

Binance founded in 2017 by Changpeng Zhao of China, was initially registered in China but later moved out of its headquarter to the Cayman Islands due to China’s regulations on cryptocurrency. Binance is currently banned in the United States. In 2019, Binance and some investors opened a US-based company, Binance.us that is registered to trade in the US with an exception of seven states, Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.

Binance.us still does not support all popular cryptocurrencies. Currently, it lists only 50 cryptocurrencies.

Binance.us offers easy to buy and sell options with a simple user interface. The screen also offers current market buy and sell orders.

Pros

1. It offers low trading fees, 0.1% sports trading fee with a minimum $10, and 0.5% instant buy and sell fees.
2. More than 50 cryptocurrencies available to trade
3. Offers 50 crypto to crypto pair trading
4. Highly secure
5. iOS and Android apps available
6. Trust wallet, an official wallet app available for users

Cons

1. Platform is not easy as Coinbase or Robinhood for beginners and retail investors
2. US-based company of Binance
3. Only 50 cryptocurrencies are available to trade. However, more are being added.
4. Not available in some states
5. Customer service is email only

 

Robinhood

Robinhood may not be the biggest crypto exchange in the world, but it is the fastest growing app for trading stocks, Bitcoin, and other cryptocurrencies. Robinhood is super popular among young investors due to its easy-to-use app and commission-free trading. Robinhood’s revenue comes from interest on customers’ cash balances, selling data to investors, and margin lending.

Robinhood headquartered in Menlo Park, California, U.S. was founded on April 18, 2013, by Vladimir Tenev and Baiju Bhatt.

In 2018, Robinhood started trading commission-free cryptocurrency to a few states with limited cryptocurrencies. As you can see from the following screen, Robinhood currently supports 7 cryptocurrencies only.

Robinhood is good for starters who want to start trading crypto quickly via a mobile app. Commission-free trading makes it extremely attractive to young and retail investors to get their feet wet in the crypto market.

Pros

1. Modern app
2. No minimum amount
3. 0 commission
4. Easy to signup and quickly start trading
5. Support margin trading

Cons

1. First time it takes time to get money available in the account
2. Only a few cryptocurrencies are available
3. Getting money back takes time
4. Limited customer support
5. Interface does not suit institutional investors and analysts

 

Crypto.com

Crypto.com serves 10+ million users and lists 90 cryptocurrencies to trade. Crypto.com app is a modern app that allows you to trade cryptocurrencies.

Crypto.com offers more than just a trading app. It has a Visa credit card, DiFi wallet, NFT platform, and more.

Crypto.com offers a visa card that is connected with your crypto account and offers 8% back and offers up to 14% interest on the crypto balance, depending on the stake.

Crypto.com offers a DiFi (distributed finance) app wallet that makes DiFi simple.

DeFi Wallet allows users to create their keys and earn interest in crypto. It also allows DiFi Swaps and earns Triple Yield.

Pros

1. Low fees
2. Added benefits for staking CRO
3. Multiple ways to earn crypto or interest
4. Easy to convert money
5. Visa card and cashback rewards
6. Not a US-based company

Cons

1. Customer service is not good
2. Not all cryptocurrencies available in all states

 

Kraken

Kraken, founded in 2011, is a cryptocurrency exchange headquartered in San Francisco, California, United States. Kraken is one of the oldest crypto exchanges in the US and available in 48 US states. Kraken currently lists 72 assets to buy and sell on the platform.

Kraken provides 2 mobiles apps, Kraken and Kraken Pro. Kraken app is for beginners who want to quickly start buying and selling crypto. Kraken offers excellent service, handy tools, low fees, versatile funding options, and rigorous security standards.

Kraken Pro is for advanced traders that are highly secure and scalable. Advanced trading tools with an easy-to-use interface

Deep liquidity across all markets

Advanced trading features include:

Go long or short on 8 different cryptocurrencies up to 5x with margin trading

Open and close your positions in bulk with just a few taps

Advanced order types and conditional close parameters to automatically set a stop loss or take profit on any position

Set start and expiry times to customize when your orders are placed or canceled

Custom fee payment options allow you to pay in fiat or crypto for each order

Complete history of all orders, trades, positions, deposits, and withdrawals

Visualize your past trades or current open orders directly on the chart

View current balances for each asset, in your preferred quote currency

Pros

1. Fees as low as 0%
2. Consistently rated the most secure exchange by 3rd parties
3. 30+ cryptocurrencies to choose from
4. 24/7/365 global customer support

 

Gemini

Gemini crypto exchange is a New York-based company founded in 2014 by Cameron Winklevoss and Tyler Winklevoss. Gemini operates in more than 50 countries including the United States, Canada, the United Kingdom, South Korea, Hong Kong, and Singapore.

Gemini has a mobile app that allows traders to easily buy, sell, and store cryptocurrencies.

Pros

1. Unlike other crypto exchanges, Gemini is more regulated and operates in New York.
2. Insurance of digital assets against exchange hacks.
3. Available in all U.S. states.

Cons

1. It only lists 30 cryptocurrencies
2. Fees are higher than other exchanges

 

Conclusion

There are plenty of crypto exchanges that allow US citizens to buy, sell, and store Bitcoin and cryptocurrencies. In this article, I listed the top 6 crypto exchanges in my list that are good for US citizens based on my personal experience and online references.

DISCLAIMER: This article is for informational purposes only. The author shares his personal views only and does not advocate any buy, sell, or trade Bitcoin, altcoins, and other cryptocurrencies. The author does not have any affiliations or relationships with any of the mentioned companies and exchanges. Also note, some of the information may be old by the time you read this article. Please check respected companies’ websites for more accurate information.