6 Best Crypto Exchanges USA (Reviews Updated)
If you are new to bitcoin and crypto trading, finding a crypto exchange that is good for buying and selling can be difficult.
We have made a list of the best crypto exchanges for people who want to buy and sell Bitcoin, Etherum and other popular assets (including priority exchanges that will take credit cards) .
Best Cryptocurrency Exchanges:
- Bittrex<--Best Crypto Exchange
- Binance
- Kraken
- Crypto.com
- Coinbase
Best Crypto Exchanges
We have created a breakdown of the best exchanges for people who want to buy and sell Bitcoin, Etherum and other popular crypto assets.
1. Bittrex 
Bittrex is the best choice for crypto exchanges. It offers reasonable fees, and the number of coins it supports is large. Bittrex also has a 24-hour volume of more than $20 million U.S dollar and charges 0.25% for purchases that are called "taker fees." That makes it one of the best options in crypto trading.
Pros
- An app to buy and sell things quickly. It's easy to use for people who are new at trading.
- Hundreds of coins are available for people who trade more.
Cons
- High fees for low-volume traders.
- The score of this country's cybersecurity is lower than other leaders in space.
2. Binance (maybe move as it only let small deposits) 
Binance is our second choice for the top crypto exchanges because it offers the most trading pairs for users to purchase. Users can buy or sell bitcoin, ethereum and other popular crypto assets with a single transaction through Binance. The exchange also allows crypto trades between other cryptocurrencies on its platform as well.
Pros
- Other exchanges may have higher fees than this one.
- You can buy a lot of different kinds of coins and trading pairs.
- More advanced charts
Cons
- For more advanced users
- Binance US has fewer trading pairs than their international counterpart. But they still have over 100 trading pairs.
- 7 states in the U.S., including New York and Texas, are not supported by Binance US.
3. Kraken 
Kraken is a good exchange. It has low fees and contains many coins to trade with. It also provides advanced trading tools like margin. Kraken has high standards for security and says it wants to be the best exchanges.
Upto 1000 per customer
Pros
- High-security measures, very safe to use. Two-factor authentication on the account login.
- They have low fees on deposit/withdrawal.
- This app has a good design. It has lots of customizations.
Cons
- Hard for beginners
- Verifying accounts for intermediate and pro-level users can be a slow process.
- Website slow on occasion
4. Gemini 
Gemini is an exchange for trading. It is easy for beginners to use, but confusing because there are different fee structures. However, Gemini has protection from FDIC deposits and now supports DOGE coins. When you open a Gemini account and deposit $100, you get $10 in bonus cash!
Pros
- More than 30 coins.
- Site insurance of digital assets against exchange hacks.
- Available in all U.S. states.
Cons
- With some cryptocurrency exchanges, you have to pay more fees.
5. Crypto.com 
Crypto.com has a beginner-friendly crypto trading platform that makes it easy to buy, sell, and spend crypto. You can also use their other services like Exchange, DeFi Swap and Wallet, Staking, Earnings, Payouts and Lending for all your crypto needs.
Pros
- A complete crypto platform is one that has all of the parts.
- High speed exchange with competitive fees
- Lets you earn returns on deposits
Cons
- To get the most out of this CRO, you need to stake it.
- This has a system that is difficult to understand. It has two tokens.
- This company doesn't show where it gets its money.
6. Coinbase 
Coinbase is a good tool for new investors of crypto. It may be overpriced, but Coinbase has features that can help inexperienced people invest and understand how things work. The Coinbase learn program and recurring purchase are both good for this.
Those who are more experienced with trading will find that Coinbase Pro is cheaper and has better features than Coinbase. But Coinbase is not for professionals. If you want to trade, you may find that Coinbase is not the right choice for you.
Pros
- Coinbase lets you use more than 50 types of cryptocurrencies.
- We need just $100 to start an Coinbase account.
- Cryptocurrency is safe in the Coinbase site if it gets hacked.
Cons
- This is a higher withdrawal fee than at other cryptocurrency exchanges.
International Crypto Exchanges in the UK, Australia and Canada.
What is a Crypto Exchange?
A crypto exchange is a place to buy & sell crypto like bitcoin. You can trade one coin for another or use your regular currency to buy cryptocurrency. Tyrone Ross, a financial advisor and CEO of an investment platform, says it helps to know your interests and find an exchange that matches what you want. For example, maybe you are looking for a site with a lot of coins offered or one that has low fees.
The Best Cryptocurrency Exchange Options:
An ‘exchange’ can be any one of a variety of crypto traders. Some platforms are designed for beginners and others for more experienced users.
Brokers - for Beginners:
A broker is a way to buy crypto quickly and easily. Brokers work like shops, and brokers are best choice for beginners wanting bitcoin.
Trading Platforms - for Intermediates:
A crypto trading mobile app platforms are a good way to trade. They are not as easy choices to use as brokers, but they offer tools like margin trading that allow you to buy and sell crypto for competitive fees direct from the mobile app, unlike brokers. Robinhood crypto trading is an example of one of these platforms (although not one we recomend - robinhood crypto is better for stock trading).
Derivatives Platforms - for Experts:
Some people may want to trade Crypto Derivatives. Other people might want to sell their Crypto for money. Advanced users can find the right platform for them.
Is it Safe to Store Your Cryptocurrency on an Exchange?
Some provide a digital wallet. Those are the ones you should use for storing your cryptocurrency or bitcoin. Others require an external wallet that you have to get when you buy it.
If you store your bitcoin on the exchange, they will control your private key for your wallet that they give you. It might be convenient, but it leaves you vulnerable to hackers.
How To Invest In Bitcoin & Cryptocurrency
Bitcoin is more volatile than stocks because of the daily swings. You buy Bitcoin or another crypto instead of stock. The methods vary across countries because of laws and regulations. Some countries require more private information than others to verify you are legitimate. We'll discuss how you invest in Bitcoin for US citizens in the US using the methods of trading platforms in the US.
Step One: Sign Up On Best Crypto Exchange
Almost all of the best cryptocurrency exchanges will require you to sign up for an account with your email address and then provide some other information before they are willing to sell you the best coins like bitcoin on their platform. After this, most places will want a Facebook or Google+ login too if possible.
Step Two: Verify Your Account
Most exchanges will want to know about your personal information. This can be anything from a picture of you holding up an ID card, all the way to verifying with a scanned copy of your driver's license or passport. Know that this is normal and just another step before using any cryptocurrency exchange. After verification, most places will let you buy a set amount of bitcoin per day, week or month.
Step Three: Verify Your Wire Transfer
Some exchanges will not require you to wire cash, but most of the time they do. This is because many places need your bank information and want a record for proof that you are who you say you are. It's always important to know how much it'll cost in terms of fees when sending funds from one location to another. There are however some that will take credit cards for bitcoin or credit card for ethereum.
Step Four: Buy Cryptocurrencies
Once you've verified your wire transfer, it's time to buy some crypto on the mobile app! Depending on the exchange and what type of currency you want to purchase, this can be done in a few different ways. The first way is by transferring currency from your bank account via ACH or SEPA transfers. The second way is through an international wire transfer.
The third way, and the one that most people will use for investing purposes, is by linking your bank account to a Bitcoin or Ethereum wallet.
Step Five: Trade Cryptocurrencies in Your Wallet Exchange
Once you have some of your cash in crypto wallets on various exchanges, it's time to start trading on their app. This is where you can take advantage of different coins and tokens, as well as various fiat currencies available on the exchange.
Step Six: Withdraw Cryptocurrencies from Exchange
In order to withdraw crypto from an exchange it needs to be in a wallet that's not located on said exchange. Once you've purchased or traded your cryptocurrency, it needs to be transferred to a wallet before being withdrawn.
Step Seven: Send Cryptocurrencies from Exchange Wallet
The last step is the easiest one and you should already know what this is for! Sending bitcoin or any other crypto between wallets can happen in two ways - either through an address or QR code scan with the help of a scanning application.
Step Eight: Store Cryptocurrencies in Exchange Wallet
Finally, you can store cryptocurrencies or bitcoin on the crypto exchange itself with an option to convert it into US dollars or any other fiat currency available on that particular trading platform. The company will take care of storing your cryptocurrency assets for you and provide regular payouts every so often.
Step Nine: Sell Cryptocurrency
If you want to trade crypto or bitcoin for fiat currency and cash out, the last step is selling your bitcoins or any other crypto coin on one of the crypto exchanges that deals in these currencies. This will enable you to withdraw money from a crypto exchanges wallet as dollars or pounds - which can then be spent like regular money.
Crypto Exchange FAQs
Understanding the Types of Exchanges
You might not know what is the best exchange for you. To find out, first learn about the different kinds of exchange there are to choose from.
Centralized Exchange
There are two types of exchanges: centralized and decentralized. Centralized exchanges are companies like Coinbase, Gemini, Binance and Kraken. They have platforms where people trade crypto. People need to register with these companies and provide identification called Know Your Customer or Know Your Client rules.
The exchanges listed above all have a lot of trading, they have lots of people using it to . Bitcoin is a different kind of currency. A centralized exchange are not good because they use private servers to manage the information. If someone attacks those servers, then it may be possible that sensitive information about their customers could be released.
Centralized exchanges are popular and easy. They store your money, but if their system fails, you will lose the money too. The insurance is only for when they did something wrong.
If your computer and Coinbase account is hacked, then you can lose all of the money. So it is important to withdraw any large sums and to practice safe cold storage.
Decentralized Exchange
Decentralized exchanges are like Bitcoin. They can't be controlled by one person, instead they are a group of computers that talk to each other. If one computer turns off, it doesn't hurt the network at all because there are many other computers that will keep the network running.
This is different from one company controlling a server in one location. If there are many servers and they are spread out, it will be hard to attack all of them. It will also be difficult to attack them because they are decentralized.
Decentralized exchanges are not subject to any laws or rules. There is no one person running it. People come and go. No one knows who they are, so they don't have to say anything about them. They can do what they want, even if it is illegal.
How is investing in crypto different from traditional investment in stocks, bonds and funds?
Trading cryptocurrencies is different from traditional investing in some ways.
These are:
- Traditional investing is when you buy a share of stock. Compared to traditional, trading in stocks has seen fees steadily decline.
- Cryptocurrencies cost more. For example, you could pay 5% or more for the transaction fee when trading bitcoin. But if you invest through a robo-advisor, this fee will be much lower and keep more of your money invested.
- Crypto is a new type of business. Customers have questions and need to talk to people about issues in their account. But there is no customer service for crypto exchanges.
- You have more responsibility for protecting your cryptocurrency when you use an exchange. You will not be protected against individual attacks on your account, even if the attack was from a website wide hack.
Cash and payment apps
A number of cash and peer-to-peer payment apps now allow users to buy and sell bitcoin. These apps are different than the exchanges and brokers because these app allow people to buy things with cash or bitcoin.
CashApp
Cash App is a system that lets you buy and sell bitcoin. You can also transfer your bitcoin to a cryptocurrency wallet. The price varies depending on the market and the day, but you will know in advance how much it costs.
You can withdraw up to $2,000 or $5,000 a day from your Cash App.
PayPal
PayPal offers the ability to trade bitcoin and other cryptocurrencies, but this must be done through PayPal’s site. Users cannot transfer crypto to their own digital wallet; they can only store it on a third-party website - risking possible hacks or theft of personal information in order for payment transactions to go smoothly with no hassle at all. Fees are estimated 0.5% per transaction (although market conditions may change) as well as tiered fees that depend on how much cryptocurrency is being purchased: 2.3% when buying up $25-$100 worth, 1 . 5 % if purchasing more than $1000 worth, and 0 . 5 % for anything under $ 25 to make purchases easier without any extra charges!
If you sell your bitcoins, you will need to pay taxes on them. So when you buy something with PayPal, they will ask for the amount of money in US dollars that was used.
Venmo
Venmo lets you buy and sell cryptocurrencies. You can use four coins: bitcoin, ether, bitcoin cash and litecoin. Venmo charges a fee of 0.5%, plus 2.3% for every transaction if the amount is $25 to $100 (1.5% for transactions more than $1,000).
You can only borrow up to $20,000 a week and not more than $50,000 in one year.
How is investing in cryptocurrencies different from traditional investment in stocks, bonds and funds?
Trading cryptocurrencies is different from traditional investing in a few ways.
- Traditional investing is cheaper than trading in cryptocurrencies, which can cost 5% or more in fees. If you invest through a robo-advisor, it will only cost 0.25%.
- Crypto is a new industry and customer service is not very good. If you have questions or problems with your account, there are no people to talk to at crypto exchanges we reviewed.
- Cryptocurrency exchanges are a good way to protect your money. You will be protected from losses if the exchange gets hacked, but you will not be protected if someone hacks your account. So make sure that you use strong passwords and keep them safe!
To recap our selections...
Steemits's Best Crypto Exchange and Platforms:
- Bittrex<--Best Crypto Exchange
- Binance
- Kraken
- Crypto.com
- Coinbase
When choosing the best crypto exchange for your needs, it’s important to look at supported currencies, pricing, withdrawal options, and security which is where we focused when picking this list of the best crypto exchanges.