Best Crypto Exchanges to buy Bitcoin (in the USA)

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Today, who doesn’t want to jump on the train of cryptocurrency and make huge gains? However, the space for crypto assets isn’t all that simple. Users and investors must look for great crypto exchanges that can solve all their needs and also help them make massive profits.

Overall, crypto exchanges play a crucial role in the cryptocurrency ecosystem by providing a platform for traders to buy and sell digital assets. With the increasing popularity of cryptocurrencies, the number of exchanges continues to grow, offering traders a wider range of options to choose from. As a trader, it’s important to do your own research and choose an exchange that meets your specific needs.

In this article, we are going to cover the top seven best crypto exchanges in the United States of America where you can buy bitcoin from.

A brief overview of Crypto Exchanges

A cryptocurrency exchange is a digital marketplace where traders can buy and sell cryptocurrencies using fiat currency or other cryptocurrencies. These exchanges are online platforms that offer a variety of trading pairs, order types, and other features to help traders achieve their investment goals.

One of the most popular types of crypto exchanges is the centralized exchange (CEX). A central authority operates these exchanges. They require users to go through a Know Your Customer (KYC) and Anti-Money Laundering (AML) verification process before they can start trading. Examples of popular centralized exchanges include Binance, Coinbase, and Kraken.

On the other hand, decentralized exchanges (DEX) operate on a decentralized blockchain network and allow traders to remain anonymous while trading. These exchanges do not require users to go through a verification process and offer a higher level of security than centralized exchanges. We have covered examples of decentralized exchanges in this article.

When choosing a crypto exchange, traders should consider a lot of factors. These include the exchange’s reputation, fees, security measures, and the variety of trading pairs offered. It’s also important to do your own research and read reviews from other users before choosing an exchange.

Binance.US

Binace.US is the American limb of Binance, which is globally the largest and biggest crypto exchange platform. It is a centralized exchange headed by CEO Brian Shroder and takes pride in having one of the Lowest Trading Fees in the market. They have around 150 coins and 18 BTC (Bitcoin) trading pairs on their platform today.

What are the pros of Binance.US?

Trade execution occurs at a lightning fast speed. This makes the platform capable of handling a lot of requests in a short amount of time.
They impose a trading fee of only 0.1% which makes t a lot easier on the pocket as compared to other exchanges.
They have a reasonable limit of $10 set for the minimum trade value
They have security measures in place that help safeguard users from scams.

What are the cons of Binance.US?

The platform may seem a little complicated for beginners
Not all 50 states of the USA can access the platform
Regulation has been a prominent issue with Binance.US
Customer support is not the most advanced

Coinbase

Coinbase is a centralized exchange that holds the position of being the most commonly used exchange in the United States of America. It has features like Coinbase Pro and Coinbase One which are very useful in providing users with additional benefits. Even though the costs of Coonbase are slightly higher when compared to other exchanges, the platform allows very smooth and easy transactions.

What are the pros of Coinbase?

Coinbase has a huge selection of tokens and trading pairs.
The platform comes with features that help you learn more. Coinbase has many tutorials and guides that can help you grow and educate yourself, especially if you are a beginner.
The minimum trade value is very low. The value today is $2.
Apart from the desktop site, Coinbase is also available as an Android or iOS app, which makes it very convenient for users.
Coinbase has a live customer support service that works 24/7 and is very helpful.

What are the cons of Coinbase?

When compared to other platforms of the same kind; Coinbase applies very high trading fees
The staking and interest opportunities are limited.

Robinhood

Robinhood is a great option for users who are relatively new to the world of cryptocurrencies. It is a commission-free stock and cryptocurrency trading platform based in the United States. Robinhood has quickly become one of the most popular trading platforms, especially among younger investors. Robinhood offers a variety of investment options, including stocks, options, and cryptocurrencies.

What are the pros of Robinhood?

Robinhood has a feature where it offers free crypto trading and as a bargain broker, the fees it charges are also very low.
Being a beginner-friendly platform, the entire user interface is simple and easy to manage.
The best part about it is that users can start investing immediately since there is no requirement for a minimum account.
The platform also has a very fast and reliable execution of trades and carries high-security measures.
The customer services are great and reliable

What are the cons of Robinhood?

Does not offer the same level of trading tools and analytics as some other platforms.
The crypto services are only available in selected states and plan to expand to others.
In the past, they have halted crypto trading, for example, during the surge in Bitcoin and Dogecoin in 2021.

Kraken

Kraken is a centralized cryptocurrency exchange based in San Francisco, California. The exchange is known for its high trading volume and low fees. It offers a wide range of trading pairs and order types, making it a popular choice among traders.

What are the pros of Kraken?

Kraken offers more than almost 100 crypto tokens and 130 trading pairs for users to choose from
The platform is relatively cheaper since the fees they levy on customers are fairly low
They have practical minimal trade values set at 0.0001 BTC for bitcoin and 0.004 ETH for Ethereum
Kraken is known for its high trading volume, which means that there is always liquidity in the market and traders can easily buy and sell assets.

What are the cons of Kraken?

The platform is a little complex, especially for someone who is just starting into the world of crypto
Kraken’s services, like many crypto exchanges, are not available in certain countries and regions.
Some users have reported slow response times from customer support.
Kraken only allows trading with a few fiat currencies, like USD, EUR, and CAD, which limits the accessibility of some traders.

Hashflow Protocol

Hashflow is a new and exciting platform for crypto users. It is a new DEX (Decentralized Exchange) that offers claims like interoperability, zero slippage and MEV protection in crypto trades. Hashflow is quite an affordable option for a layer zero protocol and has a trading volume of around 11 billion dollars.

What are the pros of the Hashflow protocol?

The transaction fees on Hashflow are extremely low and affordable
It has feathers like hybrid on-chain/off-chain requests for a quote engine to get off-chain quotes from market makers, built-in order routers, etc.
You can perform easy bridgeless swaps of assets across chains like Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, and Optimism.
The user interface is top notch and extremely smooth.

What are the cons of the Hashflow Protocol?

Hashflow protocol may experience some challenges regarding the process of welcoming new users. This is due to it being a relatively new player in the market, the
Some onboarding friction could come up

GMX

GMX is another platform that provides users with a decentralized perpetual exchange that has very low liquidation rates. Since it is built on the Chainlink Oracle network, the pricing models it offers are very reasonable and independent of inflationary changes. They have a total trading volume of approximately 79.53 million US dollars.

What are the pros of GMX?

GMX allows you to go long or short with up to 30x leverage and doesn’t limit you to token swapping
It has a very low and inexpensive pricing structure in place
zero price impact trades and low swap fees are a few of the stand out features of the platform.
GMX has a GLP feature. Using this it allows you to act as a market maker and grant liquidity to traders.
They grant rewards like Escrowed GMX and Multiplier Points as rewards to their loyal supporters.

What are the cons of GMX?

The listing of assets on the platform is currently limited but will hopefully improve with time
GMX with some of its features runs the risk of falling prey to wash trading or even Oracle exploits.

dYdX

dYdX is a decentralized finance (DeFi) platform built on the Ethereum blockchain and powered by the Starkware protocol. It is designed to provide advanced trading and lending features for cryptocurrencies and other digital assets. dYdX allows users to trade and borrow assets on the platform using smart contracts, without the need for a centralized intermediary.

What are the pros of dYdX?

dYdX offers features that are not available on many other platforms. For example, margin trading, stop-loss order, limit-order, rewards for users upon trading on the platform, up to 20x leverage and dynamic interest rates.
It supports more than 30 crypto assets like Bitcoin, Solana, Ethereum, Avalanche, etc.
KYC Verification is not necessary
The platform is open-source and has undergone several security audits which can assure the security of the platform
They charge only 0.02% as the Maker fee and 0.05% as the Taker Fee.

What are the cons of dYdX?

As of now, dYdX doesn’t have APY-generating features and fiat support
The amount of trading pairs is still limited

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To sum up

In conclusion, crypto exchanges have become an integral part of the cryptocurrency ecosystem in the United States. The industry has grown significantly in recent years. A wide range of exchanges are now available for users to buy, sell, and trade digital assets. While the regulatory landscape for crypto exchanges in the US is still evolving, many exchanges are working closely with regulators to ensure compliance and provide a safe and secure platform for users. It is important that you do sufficient research before using any exchange to make the best use of your funds.

Author: Saanvi