In this guide, we have compiled a list of the top 10 cryptocurrency exchanges for US investors in 2023. We’ve done the research to make it easier for you to select the best exchange to meet your trading needs. We evaluate each exchange and compare their offerings, costs, and supported cryptocurrencies.
Cryptocurrency is becoming increasingly popular in the US, and American investors will have numerous options in 2023 when it comes to choosing a cryptocurrency exchange. However, there are several factors to consider when selecting a platform, such as liquidity, trading volume, fees, and security. This can be especially overwhelming for those new to the space.
So, let’s delve into our guide on the best cryptocurrency exchanges for US investors in 2023 and assist you in finding the right exchange for you.
Best Cryptocurrency Exchanges for US Investors
As the demand for cryptocurrencies increases, American investors are searching for reliable methods to buy and sell crypto. Selecting a trustworthy trading platform is crucial for finding the best cryptocurrency exchange. However, it can be difficult for newcomers to choose which platform to use.
Fortunately, there are numerous high-quality cryptocurrency exchanges accessible to American investors. This guide will present some of the best crypto exchanges that we have personally utilized. It will also identify the reasons why we chose them as our top picks and outline the advantages and disadvantages of each platform. This will help you decide which is the best cryptocurrency exchange for you.
So without further ado, let’s get started! Here is our list of the best crypto exchanges US investors should consider for 2023;
- Binance
- Uphold
- Kraken
- Coinbase
- Crypto.com
- Gemini
- eToro
- Gate.io
- KuCoin
1. Binance US
Bitbuy is an American cryptocurrency exchange based in Toronto that offers a cost-effective, secure, and user-friendly platform for buying, selling, and exchanging digital assets. The platform provides a range of cryptocurrencies, including popular ones like Bitcoin, Ethereum, and Litecoin, as well as newer ones like Bitcoin Cash and Ripple. Bitbuy is attractive to large transactions and high volumes due to its low trading fees, offering a flat fee structure for ease of use.
Bitbuy employs state-of-the-art security measures, such as encryption and multi-factor authentication, to protect user funds and personal information. It also uses cold storage and has a risk management system in place to detect and prevent fraud. The platform features a simple and intuitive interface, making it easy for new and experienced users to trade. Bitbuy also offers educational resources, including tutorials and articles, to help users learn about cryptocurrencies and how to trade on the platform.
Binance Features:
Binance offers many features to its users, making it one of the most popular crypto exchanges in the world. One of the most impressive features of Binance is its advanced trading platform. It offers users a variety of tools, charts, and order types to take advantage of. Binance also has a wide range of altcoins to trade, with many new coins being added monthly.
Binance also offers users the ability to margin trade and use leverage. This means that users can trade on borrowed funds and potentially increase their profits.
However, Binance is not limited to trading. It offers various financial services for your crypto assets, including staking, liquidity pools and swaps, derivatives, education, and its self-custody crypto wallet Trust Wallet.
Binance also provides users with plenty of security features, including two-factor authentication, cold storage of funds, and 24/7 customer support.
| Trust Rating | ★★★★★ |
| Binance Location | Cayman Islands |
| Supported Cryptos | 353 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | 20% off fees |
2. Uphold
Uphold is a multi-currency investment provider founded by serial entrepreneur Halsey Minor in 2013. The company is headquartered in the US and is one of the best American crypto exchanges. It operates in six countries: the US, Spain, Ireland, Switzerland, Australia, and New Zealand.
Uphold’s US subsidiary, “Uphold US Inc.”, has received regulatory approval as a Registered Crypto Asset service provider. This means that they are in compliance with the US Anti-Money Laundering and Counter-Terrorist Financing regulations.
With Uphold, businesses and individuals can invest and exchange various assets, including cryptocurrencies, national currencies, precious metals, and US equities.
Uphold offers commission-free trading on a range of products, with crypto trading pairs available via its app and web platforms. Additionally, account holders can benefit from digital wallets, in which currencies can be easily stored and exchanged. Uphold is a popular choice for those looking to trade online with confidence and security as a well-regulated and robustly safeguarded investment provider.
Uphold Features:
One of the primary USPs of Uphold is their ‘anything to anything’ asset conversion offering. Depending on your location, you can trade assets directly with a bank account, cryptocurrency network, precious metals, US equities or debit/credit card.
Uphold also have a debit card, enabling smooth transactions using a range of cryptos, metals, and currencies. Plus, you can earn 1% back in USD for every USD-sourced transaction and 2% back in the cryptocurrency used for every crypto purchase.
Uphold also offers a mobile app for on-the-go trading.
| CoinGeko Trust Rating | n/a |
| Exchange Location | New York, USA |
| Supported Cryptos | 250+ |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | No |
| Referral Bonus | Sign-up to Uphold |
3. Kraken
Kraken Exchange is one of the oldest crypto exchanges, having operated since 2013. The platform is another great option for new American traders, with a simple and basic interface to get started with, whilst also being a good option for more advanced traders. It offers American users more than 150 different cryptocurrencies to trade, buy, and sell.
With Kraken, American users can trade with 6 fiat currencies, including USD, Japanese Yen, American dollars, Euros, and Australian dollars. Kraken trading fees range from 0% up to 0.26%, which is pretty low for a crypto exchange. Plus, it’s also considered a very secure space to trade digital currencies, with most of its cryptocurrency stored offline.
Kraken Features:
With Kraken Exchange, there are many trading features including; spot markets, futures trading with up to 50x leverage and margin trading to open larger positions. Plus, they offer various order types like limit, market, stop, trailing stop, and fill or kill.
Regarding staking options, with Kraken, users can stake Polkadot, Cosmos and Tezos. Plus, in some countries, you can even stake FIAT currencies such as Euros and US dollars too.
| CoinGeko Trust Rating | ★★★★★ |
| Exchange Location | San Francisco, USA |
| Supported Cryptos | 214 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Charges Spread |
| Withdrawal Fee | Yes |
| Referral Bonus | Sign-up for Kraken Exchange |
4. Coinbase
Next is Coinbase, which in contrast to Binance, can be expensive in terms of fees. However, Coinbase is very user-friendly, and most people getting into crypto tend to start here, especially with sign-up offers such as their £5 free Bitcoin. The interface is easy to use and ideal for newbies with their simple buying process.
However, these newbies will soon be aware that Coinbase has some of the highest trading fees among all the crypto exchanges, ranging from 1.49 to 3.99% for trading digital assets on Coinbase and from 0.5% with Advanced Trade, which has a wider range of tokens and is more aimed at experienced traders.
Coinbase supports customers in over 30 countries, including the United States, most of Europe, Singapore, Canada, and Australia, with some very high volume and liquidity.
Coinbase Features:
Coinbase offers a wide range of features for users. It offers a simple and user-friendly interface for various trading pairs between different cryptocurrencies and supports FIAT to crypto pairs. For more advanced traders, they also offer advanced order types and charting with Advanced Trade.
The cryptocurrency exchange platform is not limited to trading. Coinbase Earn offers ways to put your crypto to work and earn rewards, or you can take quizzes and earn free crypto. Plus, there’s the Coinbase self-custody crypto wallet, the Coinbase Card, ways to borrow, create and collect NFTs and a subscription-based service.
Another thing that makes Coinbase one of the top crypto exchanges is its security. While multiple attempts have breached the exchange’s security, Coinbase has yet to suffer a huge hack, and they store 97% of bitcoins offline.
| CoinGeko Trust Rating | ★★★★★ |
| Location | US |
| Supported Cryptos | 220+ |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | £5 Bitcoin Sign-up Bonus |
5. Crypto.com
Crypto.com was founded in 2016 and has its headquarters situated in Singapore. They were previously known as Monaco before being rebranded to Crypto.com in July 2018, paying between $5 million to $10 million for the domain.
Since it launched in 2016, they have become one of the fastest-growing companies in the crypto space and have over 10 million users worldwide. They continue to innovate and add more features to their platforms, such as their popular Visa debit card and, more recently, NFTs. Making it a one-stop shop for crypto enthusiasts.
Crypto.com Features:
Crypto.com offers users an array of features and products, including the Crypto.com App, where users can buy crypto, including Bitcoin and 100+ cryptocurrencies, with a credit/debit card or via bank transfers.
One of the most popular features is their Crypto.com Visa Debit Card, where users can receive cashback on purchases between 1% and 8%, plus free Spotify, Prime and Netflix subscriptions.
The Crypto.com exchange is their platform for users to trade crypto to crypto with more advanced order types, low fees and deep liquidity. Plus, they also have an additional range of products within the exchange, including The Syndicate, Supercharger and Lending.
There are also ways for users to stake and earn from their crypto, DeFi services and an NFT marketplace.
| CoinGeko Trust Rating | ★★★★★ |
| Exchange Location | Singapore |
| Supported Cryptos | 247 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | No |
| Referral Bonus | Up to $50 Sign-up Bonus |
6. Gemini
Gemini Exchange is a good option for users looking to buy crypto or sell it with fiat money, with bank deposits and withdrawals.
It is a regulated cryptocurrency exchange, wallet, and custodian that makes buying Bitcoin, Ethereum, and various other digital assets simple and secure. The cryptocurrency exchange was launched in 2015 in the US by the Winklevoss twins Cameron & Tyler, who rose to fame in 2004 after they sued Mark Zuckerberg over Facebook. The company has now expanded its operations to Europe and Asia.
Gemini Features
Gemini exchange offers an array of features for their users with a streamlined trading view and simple ways to trade assets, manage your holdings and set recurring buys.
For the more advanced trader, Gemini has ActiveTrader, their inbuilt advanced trading platform with more advanced order types, charts and lower trading fees.
Plus, they have their own Gemini wallet, a secure way to store your crypto assets.
| CoinGeko Trust Rating | ★★★★★ |
| Exchange Location | New York, USA |
| Supported Cryptos | 105 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Varies |
| Withdrawal Fee | No |
| Referral Bonus | $10 Bitcoin Sign-up Bonus |
7. eToro
eToro is a popular trading platform where investors can trade stocks, ETFs, cryptocurrencies, and CFDs. Founded in 2007 by three entrepreneurs, the platform is now trusted by millions of customers worldwide. The aim of eToro was to make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions. eToro is regulated by the UK’s Financial Conduct Authority (FCA).
There are hundreds of different financial assets to trade on eToro, which can be traded using various investment strategies. Sometimes you will own the underlying assets, such as long (BUY), non-leveraged positions on stocks and cryptos. They will also employ CFDs, enabling various options, such as short (SELL) positions, leveraged trades, fractional ownership and more.
eToro Features:
If you’re an experienced investor or a complete beginner, eToro will have you covered. Beginners can get started investing in stocks with fractional shares, allowing users to own just a fraction of a single stock.
For those interested in crypto trading, clients can trade Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies. There are hassle-free deposits and withdrawals, and you can track real market data and follow each coin’s trends. Plus, they also have a staking service available for crypto HODLers, allowing users to use their crypto and earn passive income.
CopyTrader was brought to the platform in 2010 and is great for those getting started investing or who don’t have the time to watch the markets constantly. CopyTrader lets you view what real traders do in real-time and copy their trades automatically.
| CoinGeko Trust Rating | n/a |
| Exchange Location | Israel |
| Supported Cryptos | 73 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | Check Out eToro |
8. Gate.io
Gate.io is a well-known crypto exchange platform that facilitates the trading of various blockchain assets, including BTC, LTC, Ethereum, and Qtum. This platform has gained global recognition within a short period and is now accessible in almost all countries worldwide. Notably, the exchange is unavailable in China and has relocated its registered office to Virginia, USA.
Gate.io supports over 1400 leading cryptocurrencies, with over 1,000 trading cryptocurrency pairs. The platform also offers spot trade and margin trade services, as well as ETF, Options, futures, and derivatives trading, catering to the needs of professional traders. However, even beginners with minimal experience can benefit from using this platform. If you want to learn more about Gate.io, read this comprehensive Gate.io review for more information.
Gate.io Features:
At Gate.io, you can engage in margin trading, allowing you to borrow from other users to potentially amplify your profits – but also your losses. Additionally, you can enjoy leveraged trading of up to 5X with the platform’s Leveraged ETF Tokens. If you need to swap one currency for another, you can do so easily with just one click. Finally, the platform offers plenty of strategy trading bots that are user-friendly and straightforward to use.
| CoinGeko Trust Rating | n/a |
| Exchange Location | Cayman Islands |
| Supported Cryptos | 1,400 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | Yes |
9. KuCoin
KuCoin is a cryptocurrency exchange platform that was launched in September 2017. Since its launch, it has quickly become one of the most popular exchanges in the world, with a reputation for being reliable, secure, and easy to use.
The platform offers users the ability to buy, sell, and trade a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others. Users can also trade in a variety of trading pairs, including fiat-to-crypto, crypto-to-crypto, and stablecoin-to-crypto pairs.
KuCoin Features:
One of the unique features of KuCoin is its support for margin trading, which allows users to borrow funds to increase their trading power. This means that traders can increase their potential profits, but also exposes them to greater risks.
In addition to margin trading, KuCoin also offers futures trading, which allows users to bet on the future price of a cryptocurrency. This type of trading is popular with more experienced traders who are comfortable taking on higher levels of risk.
KuCoin also offers a peer-to-peer (P2P) trading option, which allows users to buy and sell cryptocurrencies directly with each other without the need for an intermediary. This can be a great option for users who prefer more privacy and control over their transactions.
Another way that users can earn rewards on KuCoin is through staking and lending. Staking involves holding a certain amount of a cryptocurrency for a set period of time in exchange for rewards, while lending involves loaning out your cryptocurrency to other users in exchange for interest.
| CoinGeko Trust Rating | n/a |
| Exchange Location | Hong Kong |
| Supported Cryptos | 725 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | Yes |
What Should you Look for from a Crypto Exchange?
It is crucial to take into account the following factors when selecting a cryptocurrency exchange:
- Platform Security: Opt for a cryptocurrency exchange that employs strong security measures such as two-factor authentication and cold storage for user funds.
- Fees: For long-term trades, exchanges with lower fees are more suitable.
- Currency Support: Ensure that the exchange offers a diverse selection of currencies for trading.
- Trading Features: Evaluate the trading features provided, including margin trading, futures, and over-the-counter (OTC) trading.
Can you Leave Cryptocurrency on an Exchange?
You should not keep cryptocurrency on a crypto exchange long-term. No matter which crypto exchange you use or how safe it’s reported, you should never keep large amounts of crypto on an exchange.
It is always much safer to withdraw your coins back to a secure wallet, such as a Trezor One or a Ledger Nano S or Nano X, where you have control over your private keys and, therefore, your digital currencies.
Conclusion: What is the Best Crypto Exchange for US Investors?
If we have missed one of your favourite crypto exchanges available to US investors, let us know in the comments below.
FAQs
In the United States, cryptocurrency exchanges are permissible by law and are subject to regulation under the Bank Secrecy Act (BSA). This implies that service providers of cryptocurrency exchange must register with FinCEN, institute an AML/CFT program, uphold adequate records, and present reports to the authorities.
Since Bitcoin operates in a decentralized manner, it is not possible for a single government to shut down the network. Nevertheless, several governments have made efforts in the past to either prohibit cryptocurrencies or limit their usage within their jurisdiction.
Maker and taker fees are costs charged to a trader by an exchange when an order is placed and filled. A maker order is an order you place that is not immediately matched with an order on the order book, whereas a Taker order is.
According to the leading banking regulator in the United States, it is improbable that crypto tokens will supplant conventional currency. Therefore, banks should exercise caution while testing the asset class.
