Do you know which are the best US Crypto Exchanges to invest in 2023?
As a US investor, you might be looking for a new asset class to invest in.
Yes, I am blogging about cryptocurrency.
Crypto is still very popular despite global turmoils like pandemics, economic slowdown, war, and soaring inflation.
Out of 300 million crypto users globally, around 20% of them are from the United States of America.
So, there is a huge demand for cryptocurrency in America.
All you need is to open an account with any of the US Crypto Exchanges to enter the crypto world.
However, you’ll find more than 500 US Crypto Exchanges. So, I am trying to filter out the 9 best US Crypto Exchanges for you.
It really doesn’t matter whether you are a newbie or an experienced trader.
Here are the 5 best US Crypto Exchanges
Kraken – US Crypto Exchange
Kraken was founded in 2011 and is probably one of the oldest US crypto exchanges. Its platform is awesome and lets you invest by paying very competitive trading fees.
You can also avail yourself of the benefits of margin trading. Moreover, Kraken lets you use advanced trading tools like advanced order types and futures trading as well.
Furthermore, you can choose Kraken and Kraken Pro trading platforms. If you are a high-volume trader, then Kraken Pro will suites you as the cost will be lower compared to the basic Kraken platform.
You will be charged flat trading fees of 0.9% for Stablecoins and 1.5% for other cryptos.
Kraken provides you with awesome features on Kraken Pro, like margin trading and staking.
Their customer service options are great and help you out with their chatbot and phone support.
You can withdraw funds by paying comparatively low Bitcoin (BTC) withdrawal fees.
It has a gamut of educational material on cryptocurrency that might help you to invest.
Their platforms are well-secured so your investments and identity remain protected.
Despite its great service and products, you will not avail of its services in all 50 states of the US.
Gemini is yet another US crypto exchange that has unique features. You can earn interest on your holdings and the Gemini Credit Card.
Its trading fees are 0.2% as a Maker fee and 0.4% as a Taker fee.
It has a simple, but great user interface platform.
Gemini is available in all 50 states of America.
You can earn crypto rewards with the Gemini Credit Card
Gemini has limited customer service options.
You may not find some popular coins that aren’t available, such as Cardano (ADA).
Crypto.com lets you select crypto from 250 cryptocurrencies. It offers you great rewards for Crypto.com Visa Card users.
Trading fees are relatively competitive and charge you 0.4% as Maker and Taker fee.
You may get trading fee discounts only if you hold high balances in CRO. Moreover, you can also avail 8% cash back on Crypto.com Visa debit card spending.
Crypto.com offers you limited margin trading facility as well. They have higher cyber security ratings.
You may incurs higher trading fees if you have lower trading volume.
KuCoin lets you access to a wide collection of altcoins at a very low fees. It has a growing user base across the world including Asia, Europe, Africa, and the Middle East.
However, as of now KuCoin is not licensed in the US. So, as an Americans you can consider other crypto exchanges.
KuCoin trading fees are comparatively lower and they charge you 0.1% as Maker and Taker fee.
It provides you to select crypto from wide library of cryptocurrencies. KuCoin trading fees are very competitive.
Even you may get discounts on trading fees if your volume is high.
Moreover, it also offers you advanced features like margin funding trading and futures trading.
It also accepts credit cards and debit cards from you.
Major drawback of KuCoin is that it is not licensed in the U.S. as of now.
In 2020, it has faced a major hacking incident.
Coinbase also lets you invest in more than 150 cryptocurrencies. Its platform is very easy to navigate and having user friendly interface.
If you are interested in features like in-depth technical analysis then Coinbase must be your first choice. Coinbase charges are bit higher which is 1% flat.
Its platforms are very user-friendly and easy to trade. Moreover, it has very strong user reviews and security features.
Coinbase trading fees are relatively higher. Another drawback of Coinbase is that, it is not available in all 50 states of US.
How You Can Choose a Best Crypto Exchanges?
Apart from fees, you need to look for features like platform, trading volumes, supported cryptocurrencies that you might look for to invest.
Moreover, you also need to closely monitor how sophisticated their softwares are. Security of your account is one of your main priority while choosing the best US crypto exchanges.
Because of hacking, investors looses millions of dollars. However, crypto exchanges reimburses whose accounts gets hacked.
But you don’t want to be in that position. right?
So, all you can do is to open multiple accounts in different crypto exchanges. By doing so, you can minimize your risk by investing only part of your capital.
Apart from that, you can also keep your crypto holdings to your own secure wallet like in “cold” wallet. These wallets are more secured as it is not connected to the internet.
However, you need to keep your passcode in a safe zone so that you won’t loose access to your coin forever.
Another key factor to look for in a coin is the trading volume. It is better for you if trading volume is high. That will ensure enough liquidity in the system.
Low volume in a coin may cost you because of slippages. You may find that, there is a vast difference in buying and selling price because of low volume.
So, as a crypto trader, make sure your crypto exchange offers you limit order facility to avoid slippages.
In case you are a newbie crypto trader then I suggest you to look for an user friendly trading platforms. Also look for enough educational material that helps you to understand complex system.
Finally, check out whether a particular crypto exchange is legal in your state or not. Just because you can access their tools or websites doesn’t mean you can trade or investment legally.
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