Despite the fact that Bitcoin, the major cryptocurrency in the crypto market, lost over 60% of its value in 2022, the crypto industry has seen a resurgence and has been witnessing a revival of its lost boom. In fact, more and more investors are looking to buy, sell, and trade cryptocurrencies on secure and reliable crypto exchanges.
According to recent research by Grand View Research, the cryptocurrency market is expected to grow at a staggering rate of 12.5% annually, reaching a market value of over $11.71 billion by 2030.
The USA has emerged as a major player in the global crypto market, with a number of exchanges offering advanced features and unparalleled security to investors.
In this guide, we will take a look at the 6 best crypto exchanges in the USA for 2023, helping you find the perfect trading platform to suit your needs. Whether you are a seasoned trader or a beginner looking to dip your toes into the world of crypto, these exchanges have got you covered.
List of Top 6 Crypto Exchanges in the USA
- eToro – Ultimate Crypto Trading Platform Offering Copying Pro Traders
- Coinbase – Easy-to-Use US Crypto Exchange for Beginners
- Gemini – Crypto Trading Platform With Industry Leading Security Features
- Kraken – Crypto Exchange With Wide Digital Assets Options
- Binance.US – Cryptocurrency Exchange With One of the Lowest Trading Fees
- Robinhood – Best US Crypto Exchange With Zero Commission Fees
Top Crypto Trading Platforms Reviewed
1. eToro – Ultimate Crypto Trading Platform Offering Copying Pro Traders
eToro is a leading crypto trading platform that offers users access to over 75 cryptocurrencies. With a minimum deposit of only $10, eToro is a user-friendly and accessible platform for anyone looking to invest in the cryptocurrency market.
One of the main benefits of eToro is its low transaction fees. Instead, eToro charges a transparent 1% fee when buying or selling cryptos. This fee structure, combined with the platform’s low minimum deposit, makes eToro an attractive option for new crypto investors.
In addition to its low fees, eToro is also regulated by numerous top-tier entities. This provides users with an added layer of security and ensures that their investments are protected.
Another advantage of eToro is that it accepts credit/debit card and PayPal deposits. This makes it easy for users to fund their accounts and start trading cryptocurrencies right away.
One of the standout features of eToro is its user-friendly trading app. The app is designed to be easy to use, even for those who are new to cryptocurrency trading. The platform also offers a range of tools and resources to help users make informed investment decisions.
eToro is a leading crypto exchange that also offers a unique feature of copying pro traders. This feature allows new and inexperienced traders to learn from experts and mirror their trading activities, leading to higher profits.
Overall, eToro is a great option for anyone looking to invest in cryptocurrencies. With its extensive range of cryptos, low fees, and user-friendly platform, eToro makes it easy for investors to get started in the exciting and fast-paced world of cryptocurrency trading.
2. Coinbase – Easy-to-Use US Crypto Exchange for Beginners:
Coinbase is a popular and user-friendly crypto trading platform that offers access to over 100 different cryptocurrencies. Its user-friendly mobile app interface makes it easy for users to buy, sell, and trade crypto on the go. Additionally, Coinbase offers great educational content, making it a great choice for those who are new to the world of crypto trading.
One of the standout features of Coinbase is that users can purchase crypto using a credit or debit card or PayPal, which is a convenient option for many users. Coinbase also offers two-factor authentication on its mobile app, adding an extra layer of security for users.
The fee structure for Coinbase is based on a transaction fee and spread. The fee to buy Bitcoin is a transaction fee based on the payment method and volume, plus a 0.5% spread. While this fee structure may be slightly more expensive than some other platforms, Coinbase’s ease of use and security features make it a popular choice for many users.
Coinbase does not have a stated minimum deposit amount, making it accessible to users of all levels. Overall, Coinbase is a reliable and user-friendly platform that offers a variety of cryptocurrencies and convenient payment options. Its educational content and security features make it a great choice for users who are new to crypto trading.
3. Gemini – Crypto Trading Platform With Industry Leading Security Features
Gemini is a well-known cryptocurrency exchange that was launched in 2014 by the Winklevoss twins, Tyler and Cameron. The exchange is based in New York and is highly regarded for its emphasis on security and compliance. Gemini has put in place several measures to ensure that user funds are safe, even in the event of a security breach. For example, the exchange has hot wallet insurance, which means that user funds are insured in the event of a security breach. Additionally, Gemini requires users to complete an identity verification process to reduce the potential for fraud.
Gemini is a cryptocurrency exchange that is built for advanced traders. The exchange offers a professional-grade trading dashboard that supports over 100 digital currencies and tokens. Gemini also offers a cryptocurrency reward card and allows users to pay for goods and services with crypto.
Gemini’s security measures are among the most robust in the industry. The exchange encourages users to utilize two-factor authentication to secure their accounts and provides the option to review and approve devices used to log onto the trading account. Furthermore, Gemini is SOC 2-certified, which means that third-party auditors have verified the company’s security and compliance frameworks.
Gemini’s fee structure is also noteworthy. The exchange’s main platform charges fixed amounts for smaller trades and a very high 1.49% on trades above $200. The active trader platform charges maker-taker fees up to 0.4% with reductions as your volume grows. While these fees may seem high, they may be a small price to pay for Gemini’s highly robust security.
4. Kraken – Crypto Exchange With Wide Digital Assets Options
Kraken is a well-known and reliable crypto trading platform that offers its users access to over 185 different cryptocurrencies. Kraken’s security-first approach is one of its standout features. It has never been hacked, and it offers users additional security options to keep their funds safe. Additionally, Kraken complies with numerous global financial regulators, which is reassuring for users who are looking for a trustworthy platform to trade on.
Kraken’s debit card fee is 3.75% plus $0.25, which is a bit higher than some other platforms. However, the platform’s fee to buy BTC/ETH is quite reasonable. Users can purchase these currencies with a stablecoin for a fee of 1.5%, or with USD for a fee of 0.9%. This makes Kraken a great choice for those looking to make a quick and easy crypto purchase.
Kraken also has a low minimum deposit amount of just $1, which makes it accessible to users who are just starting out with crypto trading. Overall, Kraken is a reputable and secure platform that offers a wide variety of cryptocurrencies for users to trade, making it a great choice for anyone looking to enter the world of crypto trading.
5. Binance.US – Cryptocurrency Exchange With One of the Lowest Trading Fees
Binance.US is one of the best cryptocurrency exchanges in the USA for 2023. Created by Binance and its US partner BAM Trading Services, Binance.US is a crypto exchange platform that offers a wide range of features for US residents. This exchange allows users to buy, sell, trade, convert and stake over 120 popular cryptocurrencies, including Bitcoin, Ethereum, Solana, and Cardano.
One of the significant advantages of using Binance.US is the low trading fees. The platform charges a maker/taker fee ranging from 0% to 0.1%, making it one of the lowest trading fees compared to its competitors. Furthermore, instant buy fees are only 0.50%, which is highly competitive in the market.
Binance.US also offers a range of educational resources for those interested in learning about crypto and blockchain. The Binance.US Blog provides educational videos and articles suitable for traders of all experience levels. The platform’s trading fee discounts are available for users who hold Build and Build (BNB), offering a 25% trading fee discount, making trading even more affordable.
However, Binance.US has some cons that users should consider. One is the lengthy identity verification process, which can take several days before users can buy, sell, or trade. Also, despite supporting over 120 cryptocurrencies, some competitors offer a more extensive selection of assets.
6. Robinhood – Best US Crypto Exchange With Zero Commission Fees
Robinhood is an excellent crypto exchange for buy-and-hold investors. It offers commission-free trading and supports trading in popular cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and others.
Robinhood’s mobile app is user-friendly and provides real-time market data, allowing investors to make informed decisions. It also offers a cash management account and fractional share trading. Robinhood is regulated by the SEC and FINRA, ensuring a safe and secure trading experience.
Factors to Consider When Choosing a Crypto Trading Platform
Before diving into the comparison of the top crypto exchanges, it is important to understand the factors that should be considered when choosing a trading platform. These factors include security and safety measures, user interface and experience, available cryptocurrencies and trading pairs, fees and transaction costs, liquidity and trading volume, and customer support.
Security and Safety Measures
One of the most important factors to consider when choosing a trading platform is the security and safety measures in place. This includes measures such as two-factor authentication, SSL encryption, and cold storage of funds. It is important to choose a trading platform that has a good track record of security and has never experienced a major hack or security breach.
User Interface and Experience
Another important factor to consider is the user interface and experience. A good trading platform should be easy to use and navigate, with clear and concise information about available cryptocurrencies and trading pairs.
Available Cryptocurrencies and Trading Pairs
The variety of available cryptocurrencies and trading pairs is another important factor to consider. The more cryptocurrencies and trading pairs a platform offers, the more opportunities you have to diversify your portfolio and take advantage of market trends.
Fees and Transaction Costs
Trading fees and transaction costs can vary significantly between platforms. It is important to choose a trading platform that offers competitive fees and has transparent pricing policies.
Liquidity and Trading Volume
Liquidity and trading volume are important factors to consider because they affect the speed and ease of buying and selling cryptocurrencies. A platform with high liquidity and trading volume generally allows for faster and more efficient trades.
Customer Support
Finally, it is important to choose a trading platform that offers good customer support. This includes prompt and helpful responses to customer inquiries, as well as resources and educational materials to help users navigate the platform.
Final Thoughts – Secure and Reliable Crypto Exchanges for US Traders
In conclusion, the world of cryptocurrency is constantly evolving, and finding the best crypto exchange can be a daunting task. However, by taking into consideration important factors such as security, fees, reputation, and user experience, traders can narrow down their options and choose the best crypto exchange that suits their needs.
Our top picks for the best crypto exchanges in the USA for 2023 include Coinbase, Binance.US, Kraken, Gemini, eToro, and Robinhood. These exchanges offer a wide range of features and services to cater to different levels of traders. With the right crypto exchange, traders can take advantage of the growing crypto market and invest in the future of finance.
It is also worth noting that while crypto trading platforms offer many benefits, they also come with risks. Cryptocurrencies are highly volatile and can experience significant price fluctuations in short periods of time. It is important to do your own research and due diligence before investing in cryptocurrency, and to only invest what you can afford to lose.
