Best Crypto Exchanges in 2023

After much research and analysis, the CCN crew believes the following Bitcoin exchanges are the best you’ll find in the USA.

1. Coinbase  – Best for beginners
2. Kraken  – Best for security and advanced trading
3. Bitstamp  – Best value crypto exchange
4. Crypto.com  – Best exchange for altcoins
5. Binance.US  – Best exchange for staking rewards
6. Gemini  – Best crypto app
7. Uphold  – Best platform for multi-asset trading
8. Pionex.US  – Best for automated trading
9. KuCoin  – Best exchange for emerging altcoins
10. Bisq  – Best decentralized exchange

Review of Our Top 10 Crypto Exchanges

I understand that you’re possibly eager to make a purchase. However, before you do, it’s important to read the overviews of the Bitcoin exchanges discussed on the page.

1. Coinbase Exchange Review

• Overview: Coinbase was founded in 2012 and is headquartered in San Francisco, California. It is a centralized exchange that is best for beginners.
• Tradable coins: Coinbase supports over 200 cryptocurrencies.
• Fees: Coinbase charges a spread of about 0.50% for cryptocurrency purchases and sales. Additionally, there is a Coinbase fee of $0.99 to $2.99 depending on the transaction amount. Coinbase Pro, the exchange’s advanced trading platform, charges a maker fee of 0.50% and a taker fee of 0.50%.
• Pros:
  • User-friendly interface
  • Large selection of cryptocurrencies
  • High liquidity
• Cons:
  • High fees compared to other exchanges
  • Limited payment options
• Visit Coinbase 

2. Kraken Exchange Review

• Overview: Kraken was founded in 2011 and is headquartered in San Francisco, California. It is a centralized exchange that is best for security and advanced trading.
• Tradable coins: Kraken supports over 70 cryptocurrencies.
• Fees: Kraken charges a maker fee of 0% to 0.16% and a taker fee of 0.10% to 0.26%, depending on the trading volume.
• Pros:
  • High security
  • Advanced trading features
  • Low fees
• Cons:
  • Slow customer support
  • Limited payment options
• Visit Kraken 

3. Bitstamp Exchange Review

• Overview: Bitstamp was founded in 2011 and is headquartered in Luxembourg. It is a centralized exchange that is best for value.
• Tradable coins: Bitstamp supports 9 cryptocurrencies.
• Fees: Bitstamp charges a maker fee of 0.25% and a taker fee of 0.25%.
• Pros:
  • Low fees
  • High liquidity
  • Good reputation
• Cons:
  • Limited selection of cryptocurrencies
  • Limited payment options
• Visit Bitstamp 

4. Crypto.com Exchange Review

• Overview: Crypto.com was founded in 2016 and is headquartered in Hong Kong. It is a centralized exchange that is best for altcoins.
• Tradable coins: Crypto.com supports over 100 cryptocurrencies.
• Fees: Crypto.com charges a maker fee of 0.10% and a taker fee of 0.16%.
• Pros:
  • Large selection of altcoins
  • Low fees
  • High liquidity
• Cons:
  • Limited payment options
  • Not available in all states in the US
• Visit Crypto.com 

5. Binance.US Exchange Review

• Overview: Binance.US was founded in 2019 and is headquartered in San Francisco, California. It is a centralized exchange that is best for staking rewards.
• Tradable coins: Binance.US supports over 50 cryptocurrencies.
• Fees: Binance.US charges a maker fee of 0.10% and a taker fee of 0.10%.
• Pros:
  • High liquidity
  • Low fees
  • Large selection of cryptocurrencies
• Cons:
  • Limited payment options
  • Not available in all states in the US
• Visit Binance.US 

6. Gemini Exchange Review

• Overview: Gemini was founded in 2014 and is headquartered in New York City. It is a centralized exchange that is best for a crypto app.
• Tradable coins: Gemini supports 33 cryptocurrencies.
• Fees: Gemini charges a maker fee of 0.35% and a taker fee of 0.35%.
• Pros:
  • User-friendly interface
  • High security
  • Good reputation
• Cons:
  • Limited selection of cryptocurrencies
  • High fees compared to other exchanges
• Visit Gemini 

7. Uphold Exchange Review

• Overview: Uphold was founded in 2014 and is headquartered in Charleston, South Carolina. It is a centralized exchange that is best for multi-asset trading.
• Tradable coins: Uphold supports over 50 cryptocurrencies.
• Fees: Uphold charges a spread of about 0.80% for cryptocurrency purchases and sales.
• Pros:
  • Large selection of cryptocurrencies
  • Supports multiple asset classes
  • Easy to use platform
• Cons:
  • High fees compared to other exchanges
  • Limited payment options
• Visit Uphold 

8. Pionex.US Exchange Review

• Overview: Pionex.US was founded in 2019 and is headquartered in Singapore. It is a centralized exchange that is best for automated trading.
• Tradable coins: Pionex.US supports over 100 cryptocurrencies.
• Fees: Pionex.US charges a maker fee of 0.05% and a taker fee of 0.05%.
• Pros:
  • Low fees
  • Supports automated trading
  • High liquidity
• Cons:
  • Limited payment options
  • Not available in all states in the US
• Visit Pionex.US 

9. KuCoin Exchange Review

• Overview: KuCoin was founded in 2017 and is headquartered in Seychelles. It is a centralized exchange that is best for emerging altcoins.
• Tradable coins: KuCoin supports over 400 cryptocurrencies.
• Fees: KuCoin charges a maker fee of 0.10% and a taker fee of 0.10%.
• Pros:
  • Large selection of cryptocurrencies
  • Low fees
  • High liquidity
• Cons:
  • Limited payment options
  • Not available in all states in the US
• Visit KuCoin 

10. Bisq Exchange Review

• Overview: Bisq was founded in 2014 and is headquartered in Spain. It is a decentralized exchange that is best for privacy.
• Tradable coins: Bisq supports over 20 cryptocurrencies.
• Fees: Bisq charges a trading fee of 0.10% to 0.70%, depending on the trading volume.
• Pros:
  • Decentralized
  • High security
  • Good reputation
• Cons:
  • Limited selection of cryptocurrencies
  • Low liquidity
• Visit Bisq 

What Are the Main Bitcoin Exchange Options?

In general, there are two types of cryptocurrency exchange. However, I would also like to discuss a third option, the hybrid.

Decentralized exchanges

One option for buying crypto assets is a decentralized exchange (DEX). You could say that this is in line with the spirit of digital currency since there is no single controlling entity.

You can find DEX’s servers on computers worldwide. Therefore, if one of these computers is hacked, the network continues to operate normally.

DEXs act like marketplaces with peer-to-peer trading. Another benefit is the lack of personal information required when setting up an account.

However, you should use this type of crypto exchange if you’re an experienced trader. It has minimal customer support, low liquidity, and a small trading volume. Also, you’re unlikely to enjoy the user interface!

Centralized exchanges

Most cryptocurrency exchanges are centralized. Private companies like Binance own centralized exchanges (CEXs), allowing investors to trade crypto.

If you’re new to digital currency, a CEX is the best trading platform. The top Bitcoin exchanges in America offer excellent customer support and a pleasant user experience.

You should find it easy to navigate the site, and the trading volume and liquidity are usually high. Also, reputable platforms have insurance in case their systems fail.

But CEXs are open to cyberattacks. Also, they request lots of user data via a Know Your Customer (KYC) protocol.

Hybrid exchanges

As the name suggests, a hybrid exchange combines the best of a CEX and a DEX.

In theory, you should get the liquidity and functionality of a CEX and the heightened privacy of a DEX. Hybrid crypto exchanges offer lightning transaction speeds and don’t compromise your anonymity.

Yet, they are a fairly new addition to the crypto trading world. It’s hard to predict whether they will succeed, because companies must shoulder high costs. Also, they currently have limited assets and scalability.

How Crypto Exchanges Work: A Quick Overview

You can engage in cryptocurrency trading from almost anywhere on a Bitcoin exchange.

The best trading platforms offer a host of options. These include fiat currencies such as the United States Dollar and the Euro.

You can buy and sell cryptocurrencies such as Bitcoin, Ethereum Classic, Bitcoin Cash, and Litecoin. You may also have access to other altcoins, such as Ripple, Stellar, Cardano, Tron, Monero, and Tether.

Cryptocurrency exchanges are vital for the digital asset industry to survive. After all, few traditional investment firms include cryptos in their portfolios.

If you don’t use one of these trading platforms, you’ll have to find someone willing to trade at an agreed price. You must also send the coins directly to that person’s digital wallet and vice versa.

You’ll find that Bitcoin exchanges act like brokerages. They are a third party between the buyer and seller. You can fund your account with money, buy crypto, or trade it for other currencies.

When you use an exchange, you must pay a transaction fee to convert one digital coin to another. You should be able to use various payment methods, such as credit cards, eWallets, and bank transfers.

You will also find that a typical exchange company will let you trade ‘regular’ stocks and shares too. Once again, the business will take a commission.

Things to Consider When Selecting Your Crypto Exchange in the USA

Properly reviewing Bitcoin exchanges involves looking through dozens of products. We use a detailed methodology that we hope answers many of your questions about a site.

Doing this lets us quickly show you the best places to put your crypto holdings. But the best trading platform on this page is not necessarily the best pick for you.

Finding the right option involves deciding what is important to you. With this in mind you should focus on the following criteria to determine whether a crypto exchange fits you.

Does the Bitcoin exchange try to educate clients?

Traders of all experience levels can benefit from access to educational resources. Whether you plan to trade until retirement or want to make trading picks in the short term, knowledge is power.

The more information that’s at your disposal, the more likely it is that you’ll spot good trading options. Soon enough, your savings will grow as you get the best prices more often than not.

But the resources must be tailored to the experience level of each person. For instance, novices need to know the basics. This can include information on crypto and why its value can rise and fall.

Advanced users need more sophisticated data points. They want advice on choosing the right trading strategies and market analysis resources.

This information can come in various ways, including a regular newsletter, blogs, and videos.

The educational resources must be accurate and updated regularly. Also, even raw beginners should have the means to easily access it.

How good is the security?

Sadly, your crypto wallet isn’t necessarily safe, as Bitcoin exchanges are prime targets for hackers.

Research from the blockchain analysis firm, Chainalysis revealed that in 2022, cryptocurrency hackers stole close to $4 billion. It is by far the most widely stolen by cyber criminals in a year.

Considering this, you should only invest in trading platforms with robust security measures. At the bare minimum, they should have two-factor authentication to protect your crypto holdings.

The best Bitcoin exchanges have more advanced features, such as biometric login.

Investigate the crypto exchange’s liquidity

Concerning digital coins, liquidity measures how easily you can convert crypto into other currencies.

The higher the liquidity, the easier it is to have a trade matched. This is because there are more active traders, so your order gets filled quickly.

When trading cryptos, speed is of the essence. It is frustrating to spot a great opportunity but fail to profit due to a lack of liquidity.

Check CoinMarketCap to discover more about the platforms with the best trading platforms.

How many coins does it offer?

For many people, this is one of the most important trading features. You want a crypto exchange that offers dozens of coins, at least.

For instance, there are over 250 coins on Coinbase. It’s a good idea to make sure that a platform has the cryptocurrencies you’re most interested in.

Apart from the usual suspects, you may want to trade altcoins such as NEO, EON, DASH, IOTA, and NEM.

Geographical restrictions and licensing

Unfortunately, not every Bitcoin exchange is available in the United States. Furthermore, you may find that specific platforms are only open to residents of certain states.

Apart from ensuring you can legally use a site; you must also consider the company’s licensing. It’s also important to know more about crypto asset regulations.

Crypto exchanges and licensing

In simple terms, using an unlicensed trading platform is a bad idea. Every reputable large and small business is licensed.

They know their competitors are covered in the same way and must take this step to gain respectability.

There’s a greater chance of an unlicensed Bitcoin exchange scamming you. The nature of cryptocurrency means you can forget about compensation.

Gaining the right licensing is no easy task either. Prospective crypto exchanges must comply with numerous regulatory demands.

For instance, they must register their business as a legal entity in the region they intend to operate. They must also meet specific financial, technical, and HR requirements.

Thus, if a BTC exchange ticks all the boxes, it will likely be on the level.

What do regulators look for?

Regulators oversee the assessment of license applications. The most important factors they consider are:

• Anti-Money Laundering (AML) requirements
• Counter-Terrorist Financing (CTF) requirements
• KYC procedures
• Compliance with national and international laws
• Financial and operational stability
• Risk management and security protocols

Ultimately, it is all about ensuring the crypto exchange will likely operate in a trustworthy, transparent, and secure manner.

How high are the fees?

When trading in crypto markets, fees are part of the process. So, before you make your choice, knowing the Bitcoin exchange’s fee structure is essential.

For example, Kraken Pro clearly outlines its fees if you are a maker or a taker. For instance, with a 30-day volume of less than $50,000, there’s a 0.16% fee for a maker and 0.26% for a taker.

As with almost every crypto exchange, the platform’s fees fall when you trade more. For instance, if you trade between $1,000,001 and $2,500,000, the maker’s fee is 0.06%, while the taker pays 0.16%.

On Coinbase Pro, the taker pays 0.6% for a 30-day trading volume under $10,000. Meanwhile, the maker’s fee is 0.4%.

There is a range of service fees to consider. These include:

• Account fees: You tend to pay these monthly, though it can vary depending on the Bitcoin trading platform
• Deposit fees: These transaction fees occur when you fund your account, typically via an eWallet or a debit/credit card
• Withdrawal fees: You pay this charge when taking crypto out of your account
• Trading fees: These are the maker/taker fees outlined above and indicate if an order provides market liquidity

Available payment methods

The more ways you have to pay, the better. Having more options is good news for any trader. As it happens, the best crypto exchanges have you covered with the following payment methods.

Digital assets

It stands to reason that when you’re on a crypto trading platform, you’ll want to use digital assets!

Using cryptocurrency is a great way of keeping banks out of the loop. The last thing you want is for banking institutions to control how you spend your money.

With this form of payment, you retain your privacy and anonymity. You also benefit from a high level of security.

PayPal

This payment method meets the needs of customers who aren’t yet familiar enough with crypto.

PayPal is an eWallet that you can use to deposit, withdraw, store, and transfer money on Bitcoin exchanges.

You keep banks out of your business by using PayPal. It also has good security features, such as two-factor authentication.

Bank transfer

Ideally, this is not the way you will buy digital coins. However, for new users, needs must, and it is a familiar method of payment.

A bank transfer to buy crypto on a trading platform is quicker than many think. It is also a good option if you’re unable to use a credit card in your country.

Credit or debit cards

The best Bitcoin exchanges are happy to accept debit cards or credit cards. You can use your Visa or MasterCard to make the purchase, and the money comes from your bank account.

Once again, you benefit from solid security measures. For instance, you must verify each transaction with the card company.

How does my payment method impact fees?

Payment methods matter when it comes to paying fees. Traders' balances could take a hit if they engage in transactions regularly.

For the record, you’ll generally pay less when using digital assets. On the other end of the scale, PayPal and credit cards can charge high fees.

Does the crypto exchange have good product variety?

Variety is the spice of life and a key component of a high-quality crypto exchange. Below, I outline some products and features you should expect to find on a Bitcoin trading platform.

Advanced trading options

You won’t be content with basic markets if you're a serious trader. Instead, you want to explore everything a crypto brokerage has to offer. The best Bitcoin exchanges have the following trading options:

• Margins: This form of trading enables you to borrow money for leveraged trading. It is a convenient way of increasing your profits, but you're on the hook if a trade goes wrong.
• Spot trading: This involves purchasing coins at the existing market price. The aim is to complete the trade quickly to enjoy a fast profit. Unlike margins, spot trading requires paying the full trade amount up front.
• Futures: You buy or sell cryptocurrency at a pre-determined date in the future. The nature of this form of trading means the price can change significantly.

Tools of the trader

Pro traders also want sophisticated trading tools on the platform. Successful crypto trading not only involves making the right call. It also necessitates having the means to execute the trade.

Here are some research tools that the top Bitcoin exchanges may offer:

• Advanced trading charts with technical indicators
• Total Locked Value (TVL)
• Live market intel
• Portfolio trackers
• A visual overview with filters for market cap size, time period, and losers and gainers

Storage options

You benefit from a hosted wallet when you use an exchange like Kraken or Binance. It is called ‘hosted’ because the company keeps your crypto safe. It is similar to how a bank keeps fiat in a savings account.

You don’t need to worry about your private key. Accessing your coins is as easy as logging into your account.

Yet, those who want more control choose the non-custodial wallet. It gives you full custody of your coins, and you can’t be shut out of your account.

This could prove useful for online casino players. For instance, Coinbase is known for freezing people out of their accounts for gambling online.

However, you must keep your private key safe with a non-custodial wallet. If it is lost or you’re the victim of theft, you lose access to your cryptocurrency.

Services for the individual and the business

A top crypto exchange in the U.S. will have various services for individuals and companies. You should find it easy to buy, sell and trade crypto.

Trading platforms should provide rewards to loyal users and allow them to borrow coins for margin trading.

The site should also enable businesses to list assets on the exchange and offer the chance to trade on futures.

A quick guide to purchasing cryptocurrency

If you want to buy BTC from a crypto exchange, follow this step-by-step guide.

Select a reputable exchange and register

Research different cryptocurrency exchanges and choose an option that’s trustworthy, secure, and suits your needs. Consider factors such as available cryptocurrencies, fees, user interface, customer support, and security features.

Go to the chosen exchange's website and sign up for an account. Provide the necessary information, including your name, email address, and password.

Secure and verify your account

Enable two-factor authentication (2FA) on your account for additional security. You may need to link the account to a mobile app.

You will probably have to complete a verification process to increase your account limits and access additional features. This usually involves submitting documents such as a passport or driver's license.

Deposit funds

Once you complete the registration steps, deposit some money. Most Bitcoin exchanges support deposits in fiat currency and digital assets. Follow the instructions provided by the exchange to deposit funds.

Decide which crypto you want to buy. Popular options include Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC). Make sure the exchange supports the cryptocurrency you wish to purchase.

Place an order

Navigate to the trading section of the exchange and select the cryptocurrency pair you wish to trade. Examples include BTC and USD or ETH and EUR. Choose if you wish to place a market order (buy at the existing market price) or a limit order (set a price you’re happy to purchase at).

Double-check the details of your order, including the amount of cryptocurrency you want to buy and the total cost. Ensure everything is correct, then confirm the order.

After placing your order, monitor its progress on the exchange's platform. If you place a market order, it should be executed almost instantly. For a limit order, you'll need to wait until the market reaches your desired price.

Store your cryptocurrency

Once your purchase is complete, consider transferring your cryptocurrency to a secure wallet outside the exchange. This provides you with more control and security over your funds. Hardware wallets or software wallets are popular options for storing cryptocurrencies.

Author Tip: Embrace Diversification

Diversification is a crucial strategy when investing in crypto. It extends beyond just the selection of different digital assets.

It also involves spreading your holdings across multiple crypto exchanges and storing coins on more than one platform. Here's why diversification on crypto exchanges is important.

Enhanced security

Registering with multiple exchanges and storing your coins across different platforms is beneficial. You reduce the risk of losing all your investments if a single company is compromised.

Cryptocurrency exchanges are potentially vulnerable to hacks and security breaches. Even the most reputable platforms may face unexpected issues.

Diversifying your holdings across exchanges mitigates the risk of losing all your funds in such situations.

Access to a broader range of cryptocurrencies

Not all exchanges support the same coins. By diversifying across multiple platforms, you can access a wider selection of digital assets.

This allows you to explore different investment opportunities and diversify your portfolio across various cryptocurrencies with varying growth potentials.

Varied user interfaces and features

Each crypto exchange offers its own user interface, trading features, and tools. By registering with several providers, you can explore and compare different platforms.

This allows you to find the ones that best suit your trading preferences and offers better liquidity, lower fees, or advanced trading options. It also helps you avoid being locked into a single platform with limited functionality.

Liquidity and trading opportunities

Liquidity is essential when it comes to buying or selling cryptocurrencies. Different exchanges may have varying levels of liquidity.

By diversifying, you can use better liquidity and seize trading opportunities on different platforms. This ensures you can execute your trades more efficiently, even during high market volatility.

Geographic accessibility

Some Bitcoin exchanges may have restrictions or limited access based on geographic location. Registering with multiple platforms can overcome these restrictions and gain access to a broader range of cryptocurrencies and trading opportunities.

It also allows you to take advantage of different regulatory environments and benefit from regional market trends.

Remember that diversification does not eliminate all risks associated with investing in cryptocurrencies. It's crucial to conduct thorough research, understand the market dynamics, and only invest what you can afford to lose.

You Have Crypto: What Are the Next Steps?

Here are some key considerations if you have digital assets and want to ensure their security and explore various possibilities.

Don’t leave funds in one exchange for too long

It’s generally recommended not to keep a large amount of cryptocurrency on a single exchange for an extended period. While reputable businesses implement security measures, they are still susceptible to hacking or technical issues.

Consider transferring a significant portion of your holdings to a more secure storage solution.

Move to a cold wallet

A cold wallet, such as a hardware or paper wallet, provides an offline storage solution for your cryptocurrencies. You reduce the risk of online threats by storing your crypto in a cold wallet.

It's a highly secure way of protecting your digital assets, and you can transfer funds to and from your cold wallet as needed.

Explore different ways to use crypto

Cryptocurrencies offer various use cases beyond investment. Research and explore the different ways you can utilize your crypto.

You can use it to make online purchases. Supporting blockchain-based projects through crowdfunding or decentralized finance (DeFi) platforms is also possible.

Another option is participating in staking or lending, or even earning interest through yield farming. Understanding the diverse applications of cryptocurrencies can help you make the most of your holdings.

Buy several coins for diversity

Diversifying your cryptocurrency portfolio is crucial for risk management. Consider investing in multiple cryptocurrencies to spread your exposure across different assets.

This diversification reduces the impact of a single coin's performance on your overall portfolio. Conduct thorough research on different cryptocurrencies. This includes looking at their underlying technology, development teams, and market dynamics before making investment decisions.

Stay current with market trends and regulations

The cryptocurrency market is fast-moving and can change in an instant. Keep up to date with the latest market trends, news, and regulatory developments that could impact your investments.

Follow reputable sources, join crypto communities, and leverage tools to track market movements. Awareness of updates and regulatory changes helps you make informed decisions and adapt your investment strategy accordingly.

The Last Word on Crypto Exchanges in the USA

In conclusion, crypto exchanges play a vital role in cryptocurrencies. They serve as platforms to buy, sell, and trade digital assets.

These platforms also provide opportunities for investors and enthusiasts to participate in the growing crypto ecosystem. However, it's crucial to approach crypto exchanges cautiously and implement sound strategies to ensure a secure and successful experience.

When you engage with crypto exchanges, diversification is key. Registering with multiple businesses allows you to explore different user interfaces. It also lets you access a broader range of cryptocurrencies and seize trading opportunities with better liquidity.

By avoiding the concentration of funds on a single exchange and moving to cold wallets for secure storage, you can minimize the risks associated with potential hacks or technical issues.

FAQ

Here is a little more information on Bitcoin exchanges.

What services do crypto exchanges offer?

Once you register with a Bitcoin exchange, you’ll be impressed by what’s on offer. Apart from acting as a trading platform, these sites let you place different orders. These include limit and market orders. You can also store your crypto on these sites and access various trading tools and charts.

How many crypto exchanges are there?

It seems as if there is a new BTC exchange released every week! There were around 600 platforms at the last count, but that figure is subject to change. Also, only a relatively small percentage are trustworthy.

How much money do I need to use a Bitcoin exchange?

Contrary to what you might think, you need very little money to get involved in crypto trading. In fact, it’s possible to get started with less than $5. This is great news because you can learn without risking huge sums of money.