What is the Best Cryptocurrency Exchange In The United States?

With multiple cryptocurrencies trading at all-time highs, you’re looking for the quickest way to buy some digital assets. But where will you find willing sellers?

The answer is on a crypto exchange. There are plenty available to Americans, but they may greatly vary in volume, available cryptos, and regulatory compliance. Today we’ll cover three top US cryptocurrency exchanges you should consider for trading. However, first, we’ll explain what a crypto exchange is and the main qualities to look for when choosing one.

What Is A Crypto Exchange?

A cryptocurrency exchange is a marketplace for cryptocurrency trading. They allow members of an otherwise decentralized world to find willing buyers and sellers of their coins.

Some exchanges are “decentralized,” operating on a peer-to-peer basis with trades that smart contracts mediate. These include protocols like Uniswap and PancakeSwap.

Ellipal - Store over 10,000 coins and tokens!

However, the most popular exchanges are “centralized,” meaning that a central institution is responsible for mediating payment. Though this may seem contradictory, these exchanges are necessary on-ramps for people trying to convert their fiat money into cryptocurrency. The crypto exchanges here are centralized by nature.

What to Look For In a Crypto Exchange

• Security: As cryptocurrencies grow in value and trading volume rises, exchanges become increasingly popular honeypots for hackers. Use a reputable – preferably regulated – exchange to keep your funds safe. Alternatively, try withdrawing your cryptocurrency to cold storage in self-custody.
• Low-Fees: Fees are how exchanges make their money. This is fine if you’re an infrequent crypto-purchaser, but fees can substantially reduce gains for high-frequency traders.
• Available cryptocurrencies: Though almost every exchange offers Bitcoin, certain companies may not sell famous listless altcoins. For avid traders looking for all available arbitrage opportunities, the diversity of cryptos is paramount.
• High-Volume: Higher trading volumes lead to more accurate prices and market liquidity. If you want to buy and sell coins efficiently, going where the money already is will be beneficial.

With that said, let’s review some top-tier cryptocurrency exchanges for US residents.

3 Top Crypto Exchanges

Cash App

What were you expecting? Believe it or not, the CEO of Square – the company that developed Cash App – is a huge Bitcoiner. Unfortunately, that president is the CEO of Twitter, Jack Dorsey.

Cash App is a super convenient way to gain first-time access to cryptocurrency. Over 30 million people use the app for peer-to-peer payments, including splitting food and shopping online. It can also be helpful to buy stocks, ETFs, and, more recently, Bitcoin. Though it usually operates as a custodial wallet, users can withdraw funds to a personal address. Interestingly, Dorsey has hinted that the app could bring Bitcoin access to teens in the future.

Due to its interoperability with other payment functions, Cash App is the most seamless option for crypto purchases. Also, the app only allows users to purchase Bitcoin, and Dorsey made clear he has no intention of adding other cryptos. However, beginners that only seek access to the primary cryptocurrency will find great use in this app.

Binance US

Binance US isn’t only renowned as a crypto exchange but as a cryptocurrency itself. Check any live price index nowadays, and you’ll find Binance coin among the top cryptos listed, right under Ethereum and Bitcoin. Using this utility token, users can pay some of the world’s lowest fees when trading on the Binance exchange.

This crypto exchange launched in 2017 and heavily focuses on altcoin trading. It offers over 100 different cryptocurrency trading pairs and allows one to deposit 12 other fiat currencies. However, Binance US has fewer trading pairs than the international version, making it slightly less suited for US investors.

Nevertheless, the platform’s low fees make it a stellar choice for frequent and experienced traders. In addition, this exchange is excellent if you’d like to take advantage of advanced charting and access to various altcoins.

Coinbase

Coinbase is one of those exchanges that frequently make headlines – probably because it markets itself so well. The company partnered with the NBA, but its advertisements are visible at other sports/ eSports events. In addition, it’s proven popular with retail investors, reaching the top of the Apple store last month while barely trailing Crypto.com on Google Play.

Coinbase offers access to various altcoins and is more accessible than almost any other dedicated cryptocurrency exchange. In addition, it provides regulated custody services for users’ crypto holdings and FDIC-insured bank accounts. These regulations are essential in an industry riddled with various hacks and scams.

This exchange’s most significant specialty is its ever-expanding list of features. Besides trading, the exchange allows one to receive their salary in any crypto. It will also be launching an NFT marketplace soon. Finally, it offers a free “Coinbase Pro” app geared better towards experienced traders seeking advanced charts and indicators. However, newbies who refrain from using Coinbase Pro must incur higher fees.

Conclusion

Could you pick the right crypto exchange for you based on your circumstances? If you’re a newbie who wants to buy Bitcoin conveniently and familiarly, consider using Cash App. Meanwhile, if you’re an experienced trader looking for various altcoin trading opportunities and low fees, try Binance US. Finally, for all-around access to a range of cryptocurrency features, you can just get familiar with Coinbase.

Btc

Bitcoin

$44.024
price

5.52947%
price change

TRADE NOW

Click here for more cryptocurrency education.