Best Cryptocurrency Exchanges In The USA For 2022

Updated: May 18th, 2022
Kevin Groves
Kevin Groves
Best Cryptocurrency Exchanges In The USA For 2022

There are many cryptocurrency exchanges available to purchase digital assets. It can be a difficult task for beginners to find an exchange that's the right fit. We have reviewed, compared and rated 100+ exchanges to find the top-rated and best crypto exchanges with the best selection of coins, markets to trade, lowest fees and is safe to use. The methodology we used to find the best cryptocurrency exchanges and platforms included creating an account, depositing crypto and trading on the website and mobile app to experience the full features on offer.

This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

Best Cryptocurrency Exchanges USA

Based on our reviews, these are the best exchanges to buy and sell crypto:

  1. Binance (best for low fees)
  2. Coinbase (best overall exchange)
  3. FTX (best for advanced traders)
  4. Bybit (best for margin trading)
  5. eToro (best for social trading)
  6. Kraken (best trading platform) 
  7. KuCoin (best for grid trading bots)
  8. Crypto.com (best for mobile app)

Top Crypto Exchanges USA: 2022 Reviews

1. Binance

Binance is a reputable crypto exchange that provides a platform for trading cryptocurrencies. The exchange has seen a meteoric rise since being founded in 2017 and is one of the most well-known and reputable trading platforms in the world. It is also the biggest exchange in the world in terms of trading volume and liquidity across its spot and derivatives markets according to Coinmarketcap. This is one of the major reasons Binance is an attractive marketplace for buying, trading and selling cryptocurrencies.

HedgewithCrypto Score
HedgewithCrypto Score
4.8/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Trading Fees:0.1%
Country:Global (USA allowed)
Currency:AUD, USD, EUR, GBP, SGD & UGX
Promotion:20% off trading fees
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Binance is packed with features that will suit a broad range of investors and traders alike. For beginners and serious crypto traders, the offering of products and services on Binance is second to none. From earning interest on cryptocurrencies, staking and liquidity farming, Binance has become an all-in-one digital exchange for all things crypto. The available markets for traders include spot, margin, derivatives, leveraged tokens and peer-to-peer markets. In total, there are more than 1,664 trading pairs across 391 supported coins that can be bought and sold on the exchange. The abundance of markets combined with deep liquidity separates Binance from its competitors.

Moreover, Binance Futures supports cryptocurrency leverage trading on 198 trading pairs. With a staggering 40 billion in trading volume at the time of writing, nearly double its closest competitor. With the expansive list of markets and trading pairs, Binance users will not have any trouble finding trading opportunities. Combined with the deep liquidity across the trading pairs, Binance is one of the best crypto exchanges for day trading.

Binance trading feesBinance trading feesBinance trading fees.

The fees between 0% and 0.1% are one of the cheapest rates for buying and selling crypto compared to other exchanges. Binance also offers a wide range of financial services and advanced features that include buying crypto using USD, and multiple payment methods. The fees between 0% and 0.1% are one of the cheapest rates for buying and selling crypto compared to other exchanges. There is even a further discount of 25% for staking BNB tokens or increasing trading volume.

A strength of Binance is the mobile trading app for iOS and Android devices which is highly intuitive, easy to use, runs smoothly and performs all the basic functions expected of a trading app. The app includes live Bitcoin and crypto prices, the ability to execute orders, manage each digital asset, view P&L and search trade history.

The only limitation is that the full version of Binance is not available in the USA. There is Binance.US which is licensed for the US market but is quite limited in the number of coins and does not have margin trading.

2. Coinbase

Coinbase is widely known as a safe and reputable crypto exchange that is trusted by thousands of customers worldwide. Coinbase is also the second-largest cryptocurrency exchange in the world in terms of reported traffic, trading volume and liquidity behind Binance. Coinbase has revolutionized the digital currency environment by providing a simple, reliable and easy-to-use platformIndividuals and institutions in the USA can buy, trade, store and sell digital assets such as Bitcoin, Ethereum XRP, Litecoin, Bitcoin Cash and many others.

A major drawcard for Coinbase is the entry-level platform that has been designed for beginners with its simple user experience and app. The overall experience is quick and easy to monitor a crypto portfolio or track live prices. The onboarding process is simple and is undoubtedly one of the best ways to buy Bitcoin and 176 other cryptocurrencies. There is a variety of payment methods for different fiat currencies such as USD, GBP, EUR and AUD. Funds can be allocated to a trading account using a credit and debit card but the fees are quite expensive at 3.99% for most regions. A major benefit of using Coinbase is that funds stored online are covered by an insurance policy.

coinbase websitecoinbase website

The platform offers an advanced and professional trading exchange called Coinbase Pro, which is ideal for retail investors and cryptocurrency traders. There are 170 cryptocurrencies that can be traded against several fiat currencies. The availability of crypto pairs is quite limited compared to other crypto exchanges in this list. However, Coinbase has deep liquidity on its major pairs such as BTC/USD and ETH/USD and is second only to Binance. This makes Coinbase a great option for beginners and also advanced traders.

A negative with Coinbase is the fees which start from 0.5% per transaction and gradually reduce with higher trading volumes. There are additional payment fees such as USD 10 and USD 25 for deposits and withdrawals using a wire transfer. Moreover, the fees on Coinbase Pro are 0.6% for makers and 0.4% for makers. The fees on Coinbase are reasonable for higher amounts, however, for smaller investors and first-time crypto buyers, Coinbase is not the cheapest crypto exchange.

3. FTX

FTX is an innovative and cutting-edge trading platform that is best suited for experienced investors and day traders. Owned by Sam Bankman-Fried, the CEO and co-founder of Alameda Research, FTX is a popular exchange that is currently ranked in the top 6 for trading volume on its spot and derivatives platform. Combined with its seamless mobile app, FTX offers several advantages and benefits for crypto traders that we will outline in this section.

HedgewithCrypto Score
HedgewithCrypto Score
4.7/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Trading Fees:0.02% / 0.07%
Country:Global (USA allowed)
Currency:Crypto only
Promotion:5% off trading fees
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Visit FTXRead our full FTX Review

One of the best aspects of FTX is the wide variety of markets to buy, trade and sell crypto. While aimed toward experienced users, the different markets are ideal to hedge a portfolio against different conditions. The available markets include

  • Spot exchange. Buy and sell 325 cryptocurrencies that follow the underlining price without margin or collateral.
  • Futures market. Trade futures on BTC, ETH, EOS, XRP, and USDT. Each coin has three futures contracts: a contract that expires in the current quarter, a contract that expires next quarter and a perpetual future.
  • Leveraged tokens. Tokens that can be bought and sold with up to 3X leverage and without any margin requirements.
  • Volatility index. Futures contracts represent the absolute value of the amount the price of a coin moves over a day, week, month or quarter.
  • Options. Contracts that give the holder the right but not the obligation to buy or sell at a future strike price. This market gives day traders the ability to hedge their open positions against price volatility.
Screenshot of the FTX charting and trading platformScreenshot of the FTX charting and trading platformScreenshot of the FTX charting and trading platform.

Like the exchanges mentioned above, FTX has deep liquidity throughout the spot trading pairs. This means users can buy crypto with minimal slippage on larger orders. The main difference with FTX is the advanced trading platform. While not ideal for beginners to buy Bitcoin, Ethereum, XRP or Solana using fiat currency, the advanced charting and order system is superior for technical analysis.

Where FTX shines is the low trading fees that start from 0.02% to 0.07% for makers and takers on its futures and spot markets. The fees can be further reduced with higher trading volumes over a 30-day period. Moreover, holding the platform's native FTT token can provide an additional fee discount of up to 30%.

There are limitations though. FTX is not strictly available in the U.S. There is a sister exchange FTX.US that has a licensed derivatives platform, although the supported trading pairs are limited to Bitcoin and Ethereum contracts only. In addition, the mobile app can be clunky at times and the navigation could be improved to make it easier for beginners. Overall, FTX is a top exchange for crypto investing or trading.

4. Bybit

Bybit is a derivatives exchange platform that is designed to offer a seamless experience to buy and trade digital coins like Bitcoin, Ethereum, EOS and XRP trading pairs with up to 100x leverage. Established in March 2018, Bybit has become one of the best crypto margin exchanges with more than 3 million users worldwide. Smart, intuitive and advanced crypto platform, fast trade speed and reliable exchange are a few of the many reasons Bybit is a contender for the best trading platform.

HedgewithCrypto Score
HedgewithCrypto Score
4.7/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Trading Fees:0.06% / 0.01% (leverage), 0.1% (spot)
Country:Global (USA not allowed)
Currency:Crypto only
Promotion:Deposit bonus up to $3,000
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Bybit allows users to buy and sell 221 cryptocurrencies using Bitcoin or USDT as the base currency. There is a fiat-to-crypto onramp that supports direct payments in USD, EUR, GBP, AUD, CAD and AED, however, the payment methods and supported currencies are limited. Therefore, Bybit is best for existing crypto holders to swap for crypto-to-crypto or trade with high leverage.

Bybit fees for spot trading start at 0.1% and decrease with higher trading volumes for the month which is similar to Binance. For perpetual and futures trading, the transaction fees are 0.01% and 0.06% for makers and takers. In short, the fees are very competitive and offer good value for money for crypto traders.

Overall, Bybit crypto exchange has an easy-to-use platform for spot and leverage day trading with low fees and excellent liquidity. The charting platform on desktop and app is superior when compared to rival exchanges. This makes Bybit one of the best crypto apps for monitoring trades or a portfolio 24/7.

5. eToro

eToro is a global financial brokerage that was established in 2007 to provide financial trading and investing platform. It caters to several markets including Crypto, ETFs, Stocks, Indices, Commodities and Forex. The platform is available in over 100 countries worldwide and has become a trusted and reliable financial services provider. eToro is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) of the United Kingdom.

HedgewithCrypto Score
HedgewithCrypto Score
4.6/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Trading Fees:Spread only
Country:Global (USA allowed)
Currency:USD, GBP, EUR, AUD
Promotion:None available at this time
Ease of useStarStarStarStarEmpty Star
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Visit eToro

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Read our full eToro Review

There are 40+ markets to choose from that are paired with the US Dollars. The broker is suited for beginners that want to invest in different cryptocurrencies using a powerful and user-friendly trading platform. Similar to Coinbase, the ease of use and visual portfolio manager separates eToro from its competitors and is geared towards crypto enthusiasts, beginners and serious investors alike. There is even a free demo mode to trade crypto which is ideal for newer traders to become familiar with the platform and markets.

etoro websiteetoro websiteDisclaimer: eToro USA LLC. Investments are subject to market risk.

Getting started with eToro is straightforward and can be funded using a bank transfer or wire transfer with as little as USD 10. The platform offers an intuitive trading interface that includes real-time crypto market research & news, advanced trading features and risk management tools and a social network feed.

The most popular feature on eToro is the social community. eToro boasts the best social trading crypto platform where traders can join and connect with other traders to share ideas and strategies. There is even the option to mirror the trading performance of profitable traders which makes eToro a unique option in this best crypto exchange list. There is a minimum deposit amount of $200 to start copying other traders which is an inexpensive way to learn from the best crypto traders. To limit potential losses, there is the option to set a stop loss level.

eToro copytradingeToro copytradingDisclaimer: Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Beyond buying and selling crypto, eToro has a crypto staking service for individuals to get the most out of their crypto investments. Some of the most popular staking coins are supported for staking like Cardano (ADA), Tron (TRX) and Ethereum 2.0 (ETH2.0). Users can automatically earn up to 90% of the staking rewards depending on their account level and one of the best crypto staking platforms to choose from.

As for the fees, eToro charges a flat 1% fee for buying and selling cryptocurrency. This fee is in addition to the spread which can vary for each of the supported crypto-assets. In comparison to other crypto exchanges, the eToro fee is a little higher compared to Binance and Coinbase but makes this list of the best crypto exchange due to its ease of use and social trading.

6. Kraken

Kraken is a cryptocurrency exchange that was founded in 2011 and is licensed within the United States. The exchange has over 9 million customers worldwide and is supported in 190 countries. Moreover, Kraken is a trusted crypto exchange that is registered with FinCEN, FinTRAC, AUSTRAC, Financial Conduct Authority (FCA) and FSA. This means Kraken is allowed to operate as a cryptocurrency exchange in several countries including the USA, Canada, Australia, UK and Japan.

HedgewithCrypto Score
HedgewithCrypto Score
4.6/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Trading Fees:0.16% / 0.26%
Country:Global (USA Allowed)
Currency:USD, GBP, EUR, CAD, CHF, JPY & AUD
Promotion:None available at this time
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Kraken is a professional trading platform for astute investors to buy Ethereum, Cardano, Bitcoin and other digital currencies. Touted as one of the most reliable exchanges, Kraken makes investing easy with its secure mobile app. For serious crypto traders, Kraken has deep liquidity across its markets. There are over 160 crypto-assets that can be bought, traded and sold on the exchange, with new coins regularly added.

There is a basic user interface for beginners to purchase crypto directly using fiat currencies such as USD, GBP, EUR and AUD. There are plenty of deposit methods for users in different countries to open an account for as little as $10. Examples of payment options include bank transfer, SEPA, wire transfer, SWIFT and debit cards.

Buying and selling crypto on KrakenBuying and selling crypto on KrakenBuying and selling crypto on Kraken.

For advanced traders, the exchange is equipped with advanced tools and automated portfolio monitoring. While basic in appearance, Kraken's exchange is reliable, stable and has a good selection of conditional orders such as Market, Limit, Stop loss, Take profit, Stop loss limit and Take profit limit. The user interface is very basic and does not include a visually-appealing interface compared to other feature-rich platforms such as Coinbase, Gemini and eToro, however, for experienced crypto buyers and sellers, Kraken is a solid option.

Kraken uses a taker and maker system with spot trading fees of 0.16% and 0.26% respectively. There are volume incentives based on trading activity in the past 30 days for all cryptocurrency pairs. Users are incentivized to engage with the market with lower trading fees to provide liquidity to the exchange by filling the order book by placing conditional and limit orders (i.e. maker fees). 

Overall, the low trading fees on Kraken's spot exchange are well-suited for USA residents. The selection of assets is reasonable and has competitive fees, although Kraken is not really suited for beginners that are looking for a fast and simple exchange. Moreover, margin trading for USA customers is restricted to certain individuals only that meet certain criteria.

7. KuCoin

KuCoin is an established exchange for trading altcoins and is often referred to as The People's Exchange' due to its popularity with more than USD 800 billion in accumulated trading volume since its establishment in late 2017. KuCoin has surged to become a premium platform to exchange cryptocurrencies with over 10 million registered users from 200+ countries such as South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia and India.

HedgewithCrypto Score
HedgewithCrypto Score
4.6/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Trading Fees:0.1%
Country:Global (USA not allowed)
Currency:USD, GBP, EUR, CNY & 40 others
Promotion:10% off trading fees
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The exchange supports users from all over the world and accepts 46 fiat currencies such as USD, GBP, EUR and CNY. According to Coinmarketcap.com, KuCoin exchange is currently a top-ranked exchange based on traffic, liquidity and overall high volume traded on its spot market. A massive benefit of buying and trading crypto with KuCoin is the massive selection of markets and trading pairs available for altcoin traders. There are currently 864 supported coins and 1,255 trading pairs to speculate on across several markets that include spot, margin, derivatives and leveraged tokens to name a few.

KuCoin grid trading and botsKuCoin grid trading and botsKuCoin grid trading and bots.

In addition, KuCoin is one of the few crypto exchanges that feature in-built automated trading strategies and bots. Users can select hundreds of trading bots that automate popular crypto trading strategies such as spot grid, smart rebalance, dollar-cost-averaging and infinity grid. The performance of actual accounts using the bots is shown across each trading pair.

A negative with KuCoin is the crypto exchange is not supported in the United States. This means residents in the USA will not be able to access the products and services offered by KuCoin. For those in other regions, KuCoin is a great trading platform to speculate on altcoins across a variety of markets and using an advanced mobile app.

8. Crypto.com

With over 10 million customers worldwide, Crypto.com is a premium cryptocurrency exchange and trading app which is supported in 49 states in the US. The crypto exchange provides a powerful alternative to traditional financial services, making it easier for everyone to start investing in crypto. Crypto.com is known for its mobile app that offers the ability to buy, sell, trade, store, earn, loan cash and spend crypto using a debit card. 

HedgewithCrypto Score
HedgewithCrypto Score
4.5/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Trading Fees:None (3.5% surcharge for credit card)
Country:Global (USA Allowed)
Currency:250+
Promotion:None available at this time
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The Crypto.com App is one of the most popular crypto apps for buying and selling over 250 cryptos at true cost. That is, buy crypto with zero fees. Moreover, the app can be used in over 100 countries worldwide using 20+ fiat currencies. There is a wide range of payment methods to fund an account which includes bank transfers and credit/debit cards which have 0% fees at the time of writing. The app is highly visual and easy to use which makes it suitable for all crypto investors to access, manage, and view funds at any time.

Buy crypto at true cost with Crypto.comBuy crypto at true cost with Crypto.comBuy crypto at true cost with Crypto.com App.

Crypto.com is highly regarded as one of the best places to earn interest on crypto purchases to grow a portfolio with minimal effort. The app offers up to 6% P.A on Bitcoin, Ethereum and 10% on stablecoins such as Tether and USD Coin. There are over 40 cryptocurrencies available on the app to earn crypto interest with rewards paid weekly directly into the user's wallet.

There is also a professional exchange for traders to swap between crypto-coins or stake to earn rewards. Through its own native digital token coin (CRO), Crypto.com can provide deep liquidity and competitive trading fees for its users to enjoy on its dedicated exchange. The fees on Crypto.com Exchange are quite reasonable compared to other platforms. The transaction fees start from 0.4% for market and limit orders.

The fee can be reduced by staking the exchange's native CRO tokens between 5% and 60% off. While the Crypto.com Exchange is sophisticated and includes advanced charting and software tools, the fees are a little higher compared to industry rates. Therefore, it is best to stick to the Crypto.com App to buy crypto directly with fiat, or use another trading platform such as Binance or FTX that has lower fees.

Best Cryptocurrency Exchanges Compared

This comparison guide provides an overview of the best cryptocurrency exchanges to buy, trade and sell Bitcoin and other altcoins. Our assessment is based on thorough research into the platform's features, trading pairs, payment options, supported currencies, trading fees, customer support and security methods.

ExchangeCrypto AssetsTrading FeesRatingPromotionWebsiteReview
Binance Logo

Binance

3970.1%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.8/5
StarStarStarStarEmpty Star
20% off trading feesVisit Binance

Binance Review
Coinbase Logo

Coinbase

1460.5%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.8/5
StarStarStarStarEmpty Star
$5 BTC bonus (USA only)Visit Coinbase

Coinbase Review
FTX

FTX

3190.02% / 0.07%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.7/5
StarStarStarStarEmpty Star
5% off trading feesVisit FTX

FTX Review
Bybit LogoBybit Logo

Bybit

810.06% / 0.01% (leverage), 0.1% (spot)
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.7/5
StarStarStarStarEmpty Star
Deposit bonus up to $3,000Visit Bybit

Bybit Review
eToro

eToro

200+Spread only
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.6/5
StarStarStarStarEmpty Star
None available at this timeVisit eToro

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

eToro Review
Kraken Logo

Kraken

940.16% / 0.26%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.6/5
StarStarStarStarEmpty Star
None available at this timeVisit Kraken

Kraken Review
KuCoin

KuCoin

600+0.1%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.6/5
StarStarStarStarEmpty Star
10% off trading feesVisit KuCoin

KuCoin Review
Crypto.com Logo

Crypto.com

250+None (3.5% surcharge for credit card)
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.5/5
StarStarStarStarEmpty Star
None available at this timeVisit Crypto.com

Crypto.com Review

How We Rated Them

With so many cryptocurrency exchanges to use, it can be a challenging task for beginners. We have individually researched the exchanges listed above and rated the performance against the following criteria. For more information on the categories assessed when comparing the best exchanges, read our full exchange rating and review methodology.

Trusted and regulated

Using a local exchange is the safest option to buy and sell crypto in the USA as some platforms are not supported in certain countries due to regulations. The United States enforces one of the world's highest standards of financial laws and regulations that govern the digital currency industry. Therefore, we ensure the exchange is a licenced company and complies to regulations, for example, as set out by Financial Crimes Enforcement Network (FINCEN).

Beginner-friendly

Ease of use is an important consideration for beginners that have limited experience using an exchange, broker or trading platform. New investors looking to convert fiat currency to cryptocurrencies are better suited using a simple and quick user-interface on desktop or a mobile app. We assess the user-friendliness of the desktop and mobile application.

Deposit methods

The availability of local supported payment methods to fund an account should be at the forefront of new investors in the USA. Our rating checks the deposit methods available for residents in the USA using USD. For example, one of the quickest and most accessible deposit options is using a bank transfer via an US bank account. Alternative methods for US customers include buying with a credit card and debit card.

Withdraw to US Bank Account

Not all cryptocurrency exchanges allow the withdraw of USD to a bank account. This is an important feature for investors that will eventually cash out of their investment. Regulated exchanges based in the USA will allow selling crypto to USD.

Supported cryptocurrencies

Bitcoin is widely available on the vast majority of digital currency platforms. However, there are thousands of cryptocurrencies that have become popular for their use-case or speculative nature. Our rating takes into consideration the number of cryptocurrency assets available and the trading pairs against cryptos and fiat currencies.

Fees

There are several different fee structures to be aware of when using a crypto exchange. There are fees to deposit USD, withdraw cash or crypto and trade between assets. Exchanges also charge spread fee which is often a 'hidden cost' and not fully disclosed. Essentially it is the difference between the bid and ask price on the market. Our review takes into consideration all fees.

Wallet security

The risk of online scams, fraud and theft is a major concern in the blockchain community. Our scoring system assesses the platform's security features to ensure the safety and protection of funds stored by the exchange. Common security measures include cold wallet storage, multi-signature withdrawal process and two factor authentication.

Customer support

Explore the website to find out what communication methods are available to support users that need troubleshooting advice or assistance on the exchange. Also, some exchanges will provide comprehensive FAQ's and How-To-Guides which is useful for beginners.

Reviews

Search for online exchange reviews, forum comments and posts on social media is a great way to see what experience other investors and traders have had with the platform.

Types of Cryptocurrency Exchanges

There are different types of cryptocurrency exchanges in the US to choose from. The best-suited exchange depends on the users level of experience with investing and trading financial markets. We have outlined the basic types below for each category of investor.

Fiat To Crypto Exchange

First time investors and beginners that are looking to make their first purchase in a digital coin will need to use a cryptocurrency exchange that accepts fiat currency. These types of websites will accept multiple fiat currencies such as the USD, EUR, GBP, AUD and NZD in exchange for digital assets such as Bitcoin and Ethereum.

When selecting a fiat-to-crypto exchange, it is important to ensure the platform accepts US Dollars and offers local payment methods in the USA, preferably a bank transfer. Lastly, check if there are any deposit or withdrawal fees as these can be hidden costs.

Cryptocurrency Trading Exchange

Once a purchase has been made, the crypto can be transfer to a crypto-to-crypto exchange for trading cryptocurrencies. The most popular trading exchanges in the US are Coinbase and Binance which are available around the world in several countries.

Binance tradingBinance trading

These popular exchanges offer modern trading platforms with charting packages to allow intermediate to experienced traders to buy, trade and sell crypto for other coins. Using a trading exchange allows investors to diversify their initial crypto purchase into other well-known altcoins and DeFi tokens. 

Advanced investors and day traders can use trading exchanges to speculate on the price of electronic currencies using technical analysis on a price chart. Many trading platforms offer charting features and tools such as technical indicators, drawing tools and chart patterns to analyse price action and identify trading opportunities.

Futures & Derivatives Cryptocurrency Exchanges

There are also cryptocurrency exchanges that offer futures and derivatives trading. These types trading platforms such as Bybit and FTX which are both recommended for experienced traders only. Derivatives trading on margin exchanges requires a thorough understanding of leverage trading and sound risk management principles are required. It is possible to lose more than the initial capital deposited to the platform when short selling Bitcoin or other assets.

Using leveraged positions is risky and traders can potentially lose more than what they deposited into an account. Advanced traders can use leverage up too 100:1 on positions to long or short the market and take advantage of small price movements. It is possible to grow a trading account very quickly however comes with increased risk.

Cryptocurrency CFD Providers

Online brokers provide an alternate way for investors to buy cryptocurrency and index funds. While CFD platforms do not offer the actual cryptocurrency assets to purchase, they allows traders to speculate on the direction of the price using margin in certain regions. This means investors can buy or short sell cryptocurrencies.

Best Crypto Exchange List

Best Crypto Exchange To Buy Bitcoin

Most people will look to purchase Bitcoins as their first investment in the digital currency market. If you're looking to obtain Bitcoin, the best method for US customers is to use a local cryptocurrency exchange such Coinbase. Based in California, Coinbase offers a variety of payment methods for residents in the US and accepts USD currency.

Coinbase is widely considered reputable, trustworthy and provides top liquidity to obtain the best prices against the US dollar. The exchange also offers a number of altcoins such as Ethereum, Litecoin, XRP and Ethereum Classic which can be purchased using fiat currency or Bitcoins.

Best Crypto Exchange To Buy Ethereum

With the surge in the ETH price sitting near its all-time high, investors are flocking to cryptocurrency exchanges to obtain Ethereum fast. The best method for US customers to get Ethereum (ETH) with USD is to use a local cryptocurrency exchange such Coinbase. The exchange provides an all-in-one shop for investors to buy, trade and sell Ethereum back to USD.

Best Crypto Exchange To Buy Altcoins

There are thousands of altcoins on the market for investors to speculate on, hoping it will become the next Bitcoin or Ethereum. One of the best exchanges to buy altcoins is Binance, which offers hundreds of altcoins that can be purchased with fiat currency, stablecoins and Bitcoin.

Binance is the largest crypto exchange in terms of trading liquidity and daily trading volumes according to coinmarketcap, followed by Coinbase Pro and Kraken. This means that users can obtain the best prices of altcoin pairs. Smaller exchanges would need to charge a higher spread fee due to lower liquidity in their order books.

binance volumebinance volume

Best Crypto Exchange For Beginners

Finding a simple and fast exchange to acquire crypto is important for new investors in the digital currency market. In our opinion, Coinbase is the best crypto exchange for beginners as it has been designed for simplicity and ease of use. The benefits of Coinbase include:

  • Easy to create an account
  • Rapid ID verification process
  • Variety of payment methods to link to account
  • Elegant user interface available on desktop or mobile trading app
  • Wide range of cryptocurrencies to select
  • Simple process to complete purchase

Cryptocurrency Exchange With Lowest Fees

Finding a low fee cryptocurrency exchange to use is an important consideration for beginners and experienced investors. The lowest trading fee exchange in the according to our research is Binance.

The exchange uses a multi-tiered fee system between 0% at 0.1%. There is also an incentive to use the platform's native Binance Coin (BNB) token which offers lower fees with discounts of up to 25% off. Competitor exchanges can charge trading fees up to 1% per transaction which can add up in the long run.

Crypto ExchangeTrading Fee
Binance0.1%
Coinbase Pro0.5%
Kraken0.16% / 0.25%
Gemini0.5%
CEX.IO0.25% / 0.16%

Best Crypto Exchanges By Country

There are currently 308 cryptocurrency exchanges available worldwide with various features, deposit methods, supported coins, fees and customer support. Based on our reviews, we have listed the best international crypto exchanges and trading platforms. For a more detailed assessment of the best exchanges in your country, read our buying guides below:

Where To Store Cryptocurrency

Storing cryptocurrency on a US cryptocurrency trading exchange can be risky. The security of the asset is left to the exchange and can be vulnerable to hacks and theft with multiple exchange hacks occurring each year. The best way to keep cryptocurrency assets safe is using a reputable cryptocurrency wallet. Two of the most popular crypto wallets are:

  • Ledger Nano X
  • TREZOR T

Hardware wallets provide an airlock between internet-connected devices and access to the asset. The private keys which give the right to access the cryptocurrency (send, transfer and receive) are stored in the wallet as opposed to a trading exchange. 

This means it is not possible for hackers to steal Bitcoin unless they have access to private keys. Even if the cold storage wallet is damaged, lost or stolen, the funds can be accessed using a variety of back-up options such as using a recovery phrase. For more information, read our article on the best hardware wallets.

Frequently Asked Questions

The legal status of Bitcoin and other cryptocurrency assets varies across each US state due to local regulations and is constantly changing due to the evolving financial policy landscape. Under the United States federal law, Bitcoin is classified as a 'commodity' and considered 'legal'.

Like most countries in the world, the USA Government does not consider Bitcoin or crypto illegal, meaning it can be bought and sold on exchanges if proper anti-fraud measures are adhered to. While the US Treasury Department's Financial Crimes Enforcement Network (FINCEN) have stated that is it legal to purchase Bitcoins, it's status as money or a commodity differs across states within the USA.

Customers will need to check the legal status of crypto within their respective state before investing.

Trading and holding Bitcoin and cryptocurrencies are taxable assets under the US Federal laws. Any sale of cryptocurrencies is considered a capital gains event and the profit or loss must be declared as part of an individual or company tax return. Taxable actions include digital assets bought, traded and sold on exchanges, mined, used to pay for things and earned through crypto interest savings accounts.

the majority of banks in the USA do not accept Bitcoin or crypto transactions. However, with the increased adoption the trend is slowly changing and a number of banks in the US such as Chime Bank, Ally Bank, USSA, Simple Bank and even JP Morgan have started to relax their policies towards digital currencies. 

Crypto exchanges based in the USA such as Coinbase, Kraken and Gemini have stood the test of time and provide a safe and secure way for users to create an account, verify their identity, deposit funds and obtain cryptocurrency. 

The best way for individuals to get cryptocurrency in the United States is to use a licenced crypto exchange that is regulated in the U.S state of the customer's residence. Using an exchange that is regulated by local authorities reduces the risk of fraudulent activity as the platform must adhere to strict requirements imposed by the Government.

When selecting a crypto exchange, it is important to ensure the platform supports your preferred deposit method. The best option is using a bank transfer from a US bank account. The transaction fees are generally low and the funds are processed in a few working days. 

Other popular methods to convert US Dollars (USD) into cryptocurrency include a credit card or debit card, wire transfer, cash deposit, PayPal, cash vouchers and Amazon gift cards.

Exchanges available in the USA such as Coinbase allow credit/debit cards to be used to buy coins. It is fast, safe and easily accessible to individuals with a bank account. Other popular platforms that accept credit cards for US citizens are Binance, eToro, Changelly and CEX.IO.

Using a bank card for purchases is attractive for investors looking for a quick and safe way to obtain Bitcoins and other altcoins. The only downside with using a credit card is the transaction fees, which is higher than traditional payment methods such as a local bank transfer.

There are still incidents of cryptocurrency exchanges being hacked resulted in the theft of funds. It is not 100% safe to store crypto assets on an exchange, regardless of the security measures in place. The largest cryptocurrency exchanges do have bank-like security features in place to keep the risk extremely low, however the best place to store Bitcoin and crypto is within your own custody using a cold storage wallet.

Customers can purchase digital currencies such as Bitcoin and Ethereum using Apple Pay on Coinmama. The global cryptocurrency exchange is supported in the United States and accepts transactions using USD. Coinmama is one of the largest exchanges to support Apple Pay.

Conclusion

To conclude our article on the best cryptocurrency exchanges, it is recommended to stick with a well-established, reputable and trusted exchange. In particular, finding a crypto exchange with low fees, excellent security, a wide range of supported assets and responsive customer services are important considerations.

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Kevin GrovesKevin GrovesKevin Groves

Kevin is the founder and chief editor at HedgewithCrypto which he started in 2019 and has reached over 1.5 million visitors worldwide. He is passionate about cryptocurrency as an emerging technology and is heavily involved in the fast-growing fintech space. An experienced trader growing his portfolio since 2013, he has a strong understanding of investing in the crypto market using exchanges, brokers and derivatives platforms.

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