US Crypto Exchange Guide
With the popularity of cryptocurrency growing throughout the United States, people are wondering where they can buy and sell these exciting new digital assets. There are many ways to buy bitcoin in the US, but you need to be properly informed before jumping into an investment. In this article we’ll examine the different US crypto exchange options and help you decide what’s best for you & your investing goals.
US Crypto Exchange Regulations
Several global exchanges have been forced to limit trading for Americans, or even withdraw completely, from operating in the country. Back in 2017 when crypto exchanges were popping up everywhere, they were all taking US clients with no regard for regulation or compliance. Fear of legal repercussions changed that rather quickly. Government organizations like the SEC and FinCEN have scared off many bad actors.
The biggest issue was very poor or non-existent KYC (Know Your Customer) processes. This only enables money launderers, terrorists, and other criminals free reign. Global exchanges like Binance had to close all accounts for US residents after years of sketchy, non-compliant tactics. Bittrex is also popular around the world, but they also had to remove MANY cryptocurrency assets from trading for Americans.
Depending on the state in which you live, you may find that trading crypto is a bit more difficult than other parts of the world. Residents of New York, for instance, will likely find various exchanges where they are unable to open accounts. The regulatory landscape differs from state-to-state so make sure you’re only trading on compliant exchanges.
None of this is to say you can’t find a US crypto exchange to trade digital assets! You have multiple options no matter what part of the country you reside. We’ll look at your choices below.
US Crypto Exchange Options
Let’s just begin with the top choice. CoinMetro is everything you need in a US crypto exchange, and then some! This is without a doubt the most well rounded exchange in the world. We now have an innovative ecosystem which provides an awesome suite of products & services. Whether you’re a beginner or a seasoned trader, this is the place for you. Newcomers will enjoy the copy trading platform (TraM – Trade Mirroring) to match professional traders and the simple swap widget as well. The more experienced traders will love margin trading as well as all the customization, tools, and analytics.
Oh, and did we mention the lowest fees on the market? Plus you’ll even earn some of that back from the rebates system!
Another advantage of CoinMetro is the safety and security of a 100% legal & compliant exchange. Our unique platform was created with a strong foundation to thrive for the long haul. The focus is on you, the user, as evidenced by 24/7 live support from real people! Unfortunately we cannot serve clients in NY, WA, or HI. But CoinMetro comes on top as the best US exchange.
This is the biggest US crypto exchange. Coinbase’s interface is simple & straightforward, making it popular amongst newcomers although it has not been updated in a very long time. They do not restrict users from any state in the US. Coinbase is notorious for high trading fees, and even higher withdrawal fees. If you want to send your crypto to your own digital wallet or use it for a purchase, make sure you know how much Coinbase is taking in fees.
The famous Winklevoss twins created Gemini. The exchange is based in New York City and operates in all 50 states. Much like all the bigger exchanges around the world, they charge high fees and severely lack qualityt customer support. The platform supports more than 20 cryptocurrencies including their own Gemini Dollar (GUSD) stable coin.
After Binance had to terminate trading for US clients to cover their tracks, they scrambled to create Binance US. This platform charges lower fees than Coinbase but it’s designed for more advanced users. It supports 50+ currencies, far less than the original company from which they’ve tried to dissociate. Binance US is still not supported in CT, HI, ID, LA, NY, TX, and VT.
Another US crypto exchange option is the Cash App, although it’s not exactly an exchange. Cash App a money transfer system and it’s quite easy to use. Unfortunately, the only supported cryptocurrency is bitcoin.
What’s the best US crypto exchange?
Click here for an in-depth comparison of these exchanges. We know you’ll discover that CoinMetro is by far the BEST US crypto exchange!
Bigger is NOT Better
One of the biggest issues you will see in the cryptocurrency space is terrible customer support. We hear horror stories everyday of lost funds and exchanges that take months to respond to a question, if ever! When your money & investments are at stake, you need to know you’ll be taken care of!
The big exchanges like Coinbase, Gemini, & Binance can take months to respond. With CoinMetro’s 24/7 live support, a real person will assist you in just a couple minutes! Our CEO Kevin Murcko regularly responds to questions on social media & our Telegram channel. Or you can chat with him every Friday on a live AMA!
Charging higher transaction fees is another pain point when dealing with a larger US crypto exchange. CoinMetro has the best fee structure on the market, including XCM rebates, because we truly want to help our users make money. Big exchanges trade against their clients. We do not do this. Our ecosystem of products designed to provide users with quality investment opportunities and the means to grow their wealth.
When choosing the US crypto exchange right for you, education is important. You’re on the right track by researching & learning about your options for trading digital assets. After reading this article, you should be ready to make your choice!