- What digital asset exchanges allow US customers?
- Where can I trade cryptocurrency in the USA and stay compliant?
- Which are the best digital assets exchanges for the residents of the USA?
Hey SutraPunks, I hope you guys have been doing well. So, today’s post is for our Punks from the US, who have constantly been asking us for the Best Crypto Exchanges in the US.
We have collated a list for you to make your life easy. Make sure you go through the entire list and leave feedback at the end stating your experience. If you are not from the USA, you can refer to our best Crypto Exchanges article to find the top global crypto exchanges.
Note: This article is created for information and education purposes and should not be considered as a piece of investment advice. Kindly consult your investment advisor or check with local law before signing up for any of these exchanges. We have done our best to curate this list, though you must know that the crypto ecosystem changes fast.
If you are not already investing in crypto, you are missing out on a new method of creating Generations of Wealth. Now that you are here, be assured that you are way ahead of most people and would still be counted as the Early Adopters of Crypto.
Ergo, we would love you to start immediately, irrespective of your investment amount. Remember to start only with the amount you are OK with losing. Now let’s get started with our Top Crypto Exchanges in the US.
Top 8 Digital Assets Exchanges in the US for 2022
The best digital assets exchanges in the US for 2022 are:
The Third exchange on our list is Kraken. Established in 2011 and launched in 2013, the exchange is owned by Payward Inc. This exchange is also based out of San Francisco, California.
It is amongst the few exchanges in the market competing with Coinbase when it comes to the US userbase. The exchange offers more than 90 crypto tokens in over 370 different pairs. The exchange has high-grade security and high liquidity to support large transaction volumes.
In its features, the exchange supports spot, margin, and futures trading (up to 50x). In addition, orders can be placed as a limit order or market order with an option to place a trigger stop loss or take profit prices. Further, a user can also short sell a particular crypto asset. Discover more features in this Kraken review.
The platform also offers a staking feature through which investors can deposit their crypto assets to earn a passive income. For US residents, only on-chain staking services are available as off-chain staking is restricted.
The good part of the exchange is its low trading fee. You can refer to Kraken’s Fee Schedule here. The platform has an interactive mobile application for both Android and iOS users.
The last digital assets exchange for US users on our list is Binance.US. As you may already know Binance is the world’s number one exchange with a maximum number of users and trading volume globally. Since the global exchange is restricted for the residents of the US, Binance.US was launched in 2019.
The exchange offers more than 60 tokens in over 120 different token pairs. The exchange is available to US residents except in some states. You can refer to the list of restricted states here.
The trading fee on the exchange is amongst the lowest in the entire US market. The base spot trading fee is 0.1% of the transaction value. If you pay the trading fee with BNB tokens (in-house token of Binance), you get a 25% discount on this fee. The effective trading fee can be as low as 0.075%.
For instant buy feature, 0.5% fee is applicable (25% BNB discount is still applicable). For more information on the fee, you can refer here.
The user interface of the exchange is useable for both beginner and professional traders. Beginners can use its basic interface while professional traders can switch to the advanced mode to access the technical interface with charts and indicators.
In addition, Binance.US has a mobile application available for iOS and Android devices.
Lastly, the exchange has a staking feature where you can stake your crypto assets to earn passive income on them.
The first exchange on our list is Coinbase. Established by Coinbase Global Inc in 2012 in San Francisco, California, Coinbase is one of the biggest exchanges in the world. It is the largest exchange in the US and the second-largest in the world (after Binance).
The exchange has more than 68 Million verified users across 100 countries. It is the best crypto exchange for US residents as it provides a wide variety of crypto tokens, and has an interactive interface. To identify the eligible states in the US, you can refer here.
As Coinbase is already a big player in the market and the liquidity of assets is not an issue. Overall, Coinbase offers more than 100 crypto tokens in over 350 different pairs. The platform also provides a staking option on a few crypto tokens.
Further, the legitimacy of this exchange can be derived from the fact that Coinbase (company) is listed on NASDAQ (Ticker name – COIN), making it answerable to the SEC(Securities Exchange Commission) and other US authorities.
As mentioned already, the platform has an outstanding User Interface that takes a beginner user’s experience to the next level. The exchange also has a mobile application available for iOS and Android devices. Further, Coinbase also offers a Visa crypto debit card, that can be used for buying goods and services with cryptocurrencies.
However, a drawback of this exchange is their trading fee charges that are substantially higher than other global exchanges. You can refer to the Coinbase Fee Structure here. In addition, the platform does not provide technical charts for professional traders. A user needs to sign up for Coinbase Pro, which is the second-best exchange on our list.
For more information on Coinbase, you can read our detailed Coinbase review here.
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4. Coinbase Pro
The second exchange on our list is Coinbase Pro – an Advanced Version of the Coinbase exchange – both developed by Coinbase Global Inc.
Once you get the hang of Coinbase, you must sign up for Coinbase Pro for three specific reasons:
- Trading fee of Coinbase pro is lower than Coinbase.
- Coinbase Pro provides an advanced technical user interface suitable for a professional trader or investor.
- Platform offers more crypto token pairs than Coinbase.
Other than these, all other benefits are similar to Coinbase. If you are a beginner, you can choose Coinbase. If you are already comfortable with the trading charts and technical indicators, you should go for Coinbase Pro.
The fee structure of Coinbase Pro is Tiered with a base fee of 0.5% of the transaction value. You can refer to the Coinbase Pro Fee Structure here.
Although the fee charged by Coinbase Pro is lower than Coinbase, it is still substantially higher than its global peers. Coinbase Pro has a separate mobile application for iOS devices and Android.
FTX.com is one of the best exchanges in the world. However, the platform is restricted for US residents. To resolve this, the company launched FTX.US – a dedicated platform for US residents.
FTX.US is amongst the best platforms for US residents. It has high liquidity and supports 24 tokens via 48 different pairs. The average 24-hour trading volume is $600 Million.
The trading fee charged by the exchange has a tiered structure. However, the base fee is as follows:
- For market maker – 0.1% of the transaction value
- For market taker – 0.4% of the transaction value
The trading interface is apt for a beginner. If you are a professional trader, you can access its technical charts and indicators. To enhance accessibility, you can also use the platform’s mobile application via iOS and Android devices.
Further, the exchange has an OTC platform for crypto whales to buy and sell cryptocurrencies in bulk. At last, FTX has a wallet called FTX.Pay through which a user can easily receive or send crypto.
Gemini was established in 2014 by the famous Winklevoss brothers (Cameron and Tyler Winklevoss). There is an exciting story about how they supposedly had an original idea of Facebook. After receiving settlement money from Mark Zuckerberg, the brothers stepped into the crypto industry with their crypto exchange.
To read this fascinating story, you can read the book “Bitcoin Billionaires by Ben Mezrich”. This book is an extension of “The Accidental Billionaires” on which the Netflix film “The Social Network” is based.
The good part of this exchange is that many low cap gems are listed on Gemini before they are listed on any other exchange. This allows a user to have an early entry into a low cap gem token. The exchange is available in over 60 countries, including the United States. You can check the list of eligible regions here.
Gemini offers more than 50 different crypto tokens through 70 different pairs. The order in the spot market can either be placed as a Limit order or as a Market order with an option to set a stop-loss trigger price.
The exchange also has an “Earn Option” where HODLers can deposit their crypto assets to earn a passive income on their holdings. The exchange offers a “Gemini Credit Card”, which can be used for buying goods and services. Further, Gemini offers a “Gemini Pay” wallet that can also be used to buy goods and services with cryptocurrencies.
Gemini has an interactive web interface and mobile applications for iOS and Android devices.
The next platform on our list is Robinhood. Robinhood is predominantly a stock brokerage firm that provides services related to trading in Equity and ETFs. Recently, the platform has added crypto trading to its portfolio of services.
The platform has a simple and user-friendly interface, which is apt for a beginner in the crypto industry. However, it may not be ideal for a professional trader due to a lack of technical charts and indicators.
Currently, the platform supports 7 crypto tokens. To enhance user accessibility, Robinhood also has a mobile application available in the iOS and Android versions.
Unlike most crypto exchanges, Robinhood does not charge any trading commission on a transaction. However, a variable order flow fee is charged on every buy or sell order.
Further, a user cannot withdraw crypto assets from Robinhood to other wallets. Only fiat currencies can be withdrawn from the exchange. It means that if you have some crypto assets on the platform, you would need to sell and convert them into fiat currency (USD) to withdraw.
The best part of Robinhood is that you can invest in Stocks, Funds, Gold, Options, and Crypto from a single portal.
The next exchange on our list is Crypto.com. Established in 2016 in Hong Kong. The exchange is loaded with features and is available to US residents as well. Currently, the platform is available in 49 states in the US which can be explored here.
The exchange is available in more than 150 countries and has a user base of over 10 Million. The platform offers more than 130 crypto tokens in over 270 different pairs.
Crypto com is a widely known exchange to trade cryptocurrencies. One of it's USP is the Crypto.com card which let you spend your crypto holdings at any online and offline store. Using Crypto.com VISA card, you can also withdraw cash from any compatible ATM. They also have earn program which let you earn interest on your crypto holdings.
On Crypto.com a user can buy or sell crypto assets through Spot, Margin, and Derivatives Trading. Further, leverage is available up to 10x for Margin Trading and up to 50x for Derivatives trading.
The exchange has many useful products such as:
- Crypto Credit – Lend your crypto assets to earn a stable passive income
- Crypto Earn – Deposit your crypto assets to earn stable interest
- Visa Debit Cards – Use these cards to buy goods and services
- Crypto.com Pay – Pay or get paid in crypto with this wallet
- NFT Marketplace – Buy/Sell Non Fungible Tokens (NFTs) here
Like any good exchange, Crypto.com has a user-friendly web interface along with mobile applications for both iOS and Android devices.
The exchange has a tiered fee structure with a base fee of 0.4% of the transaction value. You can refer to the detailed fee structure here.
Digital Assets Exchange Companies for the US Users
This concludes our list of the Best Crypto Exchanges available in the US. The global crypto exchanges such as Binance, FTX, and KuCoin have multiple additional services that may be restricted for US residents due to certain regulations. However, the above-listed exchanges are working day and night to provide better services with added features while staying in line with regulatory compliances.
Some of our subscribers also liked Gate.io Exchange. There is a reason we have not included it in our list of Top Crypto Exchanges for US residents. You can read our detailed review of Gate.io Exchange here.
That’s it from our side. Now it is your turn to explore these exchanges and let us know your experience. Let us chat in the comments below.
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