Top 9 Best Crypto Exchanges in USA 2023

With more than 200+ providers active in the crypto industry, choosing the best crypto exchanges for your trading requirements can be challenging.  You need to assess factors like safety, supported tokens, fees, customer service, wallet security, and minimum account balances. 

Our team at Business2Community selected and reviewed the best crypto exchanges available today.

Delve into the details to find the best one that suits your trading needs.

Top Crypto Exchange Platforms in the USA

In the sections below, you will find reviews of the best crypto exchanges to help you choose the right platform for your skillset. 

The Best Crypto Exchanges in USA – Reviewed 

When reviewing the best crypto exchanges, our primary criteria include low fees, safety and security, excellent customer support, and plenty of available markets.

1. Coinbase – Overall Best Crypto Exchange in USA for 2023

Although Coinbase is expensive in most areas, the platform is one of the best crypto exchanges in the US for newbies. The exchange now serves over 100+ million clients – many of whom prefer Coinbase for its simple and burden-free investment platform. You can quickly open an account and instantly invest in crypto with your debit or credit card. This means you can buy XRP, Ethereum, and more in minutes. 

The main drawback is that although you can get started quickly, debit/credit card transactions are charged at 3.99%. The other option is to deposit funds via ACH – and then, when the funds are credited, pay a smaller commission of 1.49% to complete your crypto purchase. However, this is still considered expensive compared to other exchanges in this space.

The Coinbase sign-up bonus awards new users a free $10 in Bitcoin.    

Going back to the positives, Coinbase is one of the safest cryptocurrency exchanges, with some of the most robust security protocols, including keeping the majority of client digital funds in cold storage, verifying the identity of all new customers, and requiring each account holder to set up 2FA (two-factor authentication). They also have a 24/7 security team.

Coinbase is also a good yield farming crypto platform to consider in 2024 if you’re interested in crypto staking and loans. 

If you want to buy Quant and other cryptocurrencies, you can securely trade the best altcoins on Coinbase using your mobile device.

For those not too convinced by Coinbase’s business offerings and trading fees, you can read our article on the best Coinbase alternatives in 2023.

What We Like:

2. Kraken – Secure and Trusted Exchange that has Never Been Hacked

Kraken is the top choice for investors worried about security as it is an exchange that has never been hacked in more than ten years.

The US-based exchange, which complies with a variety of financial regulators around the world, takes a security-first approach to both its exchange and its users.

Those on Kraken can add many security features to ensure peace of mind, including two-factor verification, PGP (Pretty Good Privacy) email encryption, and a master account lock – they also offer cold storage wallets. Kraken stores 95% of its assets in cold storage as well.

The exchange’s impressive security record is based on irreversible transactions and programmable enforceable contracts, while CEO Jesse Powell has regularly told his clients they should keep their funds off the exchange unless they are being used for trading.

Kraken regularly partners with external auditors to conduct Proof of Reserves audits, enhancing trust and transparency in their exchange and on-chain staking service.

The exchange offers trading pairs on over 200 coins and low fees on major trading tokens – 0.9% for stablecoins and 1.5% for all other cryptos. However, this is the fee for buying crypto instantly. With Kraken Pro, the fees start at just 0.16%.

It also offers margin trading with 4x leverage, dark pool trading, and crypto derivatives trading.

What We Like:

3. OKX – Top Global Crypto Exchange with 340 Tokens and Low Fees

OKX is a top global decentralized crypto exchange, boasting over 20 million users across 200+ countries. The exchange supports trading on over 340 popular crypto tokens, including various new cryptocurrencies that traders will have difficulty buying elsewhere.

On top of that, trading fees at OKX are just 0.10% or less for most trades, and the platform supports credit cards, debit cards, e-wallets, and bank transfers.

OKX has a ton of tricks up its sleeve, including a P2P crypto exchange and a built-in crypto wallet in the OKX mobile app. This exchange also supports crypto savings accounts and staking for several popular tokens. Crypto investors can earn interest up to 12% APY, and new users can earn up to 30% APY in the first three days. Traders can also borrow against their crypto to increase their available capital with rates as low as 1% APR.

This exchange offers a simple, instant buy option for traders who want to buy coins at the current market price. OKX offers an in-depth charting platform for more advanced traders with order book data for all tokens. Traders have access to limit, stop, and conditional orders, giving them complete control over their trades and risk management.

The exchange regularly publishes a list of emerging cryptocurrencies that traders may want to watch, helping them spot coins before they take off.

What We Like:

4. Paybis – Inclusive Crypto Exchange Supporting Over 150 Assets

Paybis is a beginner-friendly cryptocurrency trading platform where users can buy Bitcoin with a debit or debit card. The platform supports over 150 crypto and fiat assets and has many inclusive features that make it suitable for veterans and beginner-level crypto investors.

For one, Paybis features a low commission rate, letting users get more crypto from the money they spend. Furthermore, first-time users will also have the advantage of no fee on their first transaction.

Helping this trading method even more inclusive is a simple interface that lets users buy and sell cryptocurrencies without going through complex steps. However, the flip side of this is that only standard crypto trading is available – margin trading and trading pairs aren’t the facilities one will find on Paybis.

Paybis is a licensed cryptocurrency platform accessible in 180 countries and 48 US states.

It complies with EU and US regulations, offers standard two-factor authentication, and has a three-layer storage facility on its mobile-friendly crypto wallet.

Also, users can use Paybis to sell cryptocurrencies such as Bitcoin, Ethereum, USDC, Tether, Cardano, Dogecoin, Solana, Polygon, and Litecoin.

What We Like:

5. DeFi Swap – Leading Decentralized Crypto Exchange with Useful Trading Features

One of the best DeFi exchanges to consider is DeFi Swap, a brand new decentralized exchange (DEX) hosted on the Binance Smart Chain (BSC), offering a broad selection of trading services that will appeal to beginners and advanced investors alike. These services include token swapping, staking, and yield farming mechanisms, accessed through DeFi Swap’s handy browser-based platform.

Like other DEXs, DeFi Swap can link directly with many of the best crypto wallets, removing the need for a centralized intermediary. This distinguishes DeFi Swap from the other platforms on this list, meaning users do not need to verify themselves or complete any KYC checks. Regarding specific wallet providers, DeFi Swap can pair with MetaMask and WalletConnect – the process takes seconds to complete.

Once linked, you can use DeFi Swap to exchange one token for another seamlessly. DeFi Swap supports over 50 of the best altcoins and stablecoins, including BNB, USDC, USDT, DAI, and more. You can customize your slippage tolerance and transaction deadline to suit your unique needs and risk tolerance.

Aside from swapping, DeFi Swap also offers staking and yield farming services. Both provide a way to generate a yield on your crypto holdings, although the former requires you to lock up your tokens for a specified period. Finally, users who hold DEFC (DeFi Swap’s native token) will earn a passive income stream through the token’s innovative ‘static rewards’ system – which dovetails nicely with the other services offered in this community-driven ecosystem.

DEXs like DeFi Swap also give crypto investors access to the best crypto IDOs.

What We Like:

6. Bitstamp – Cost-Effective Crypto Exchange with Great Trading Tools

Another reputable crypto exchange that has stood the test of time is Bitstamp. Bitstamp was launched in 2011 and has since become one of the industry’s most respected and trusted exchanges.

With Bitstamp, users can invest in over 70 cryptocurrencies and enjoy low trading fees. Fees start at 0.50% per trade, dropping to 0.25% for monthly trading volumes exceeding $10,000. UK-based users can fund their accounts via free ACH transfer. Withdrawals Notably, withdrawals can also be made via ACH with no fees.

Bitstamp also allows users to access the best crypto coins using credit or debit cards. This does come with a 5% transaction fee attached, although the process is ideal for beginners who want to avoid depositing in crypto or FIAT. The great thing is that Bitstamp’s minimum trade amount is only $10 for most FIAT-denominated pairs and 0.0002 BTC for BTC-denominated pairs.

You can also build your portfolio with free crypto thanks to the $20 Bitstamp sign up bonus when using a referral link such as the one on this website.

Finally, Bitstamp’s trading platform is user-friendly, with two web-based platforms and a mobile app. Bitstamp.net is a beginner-friendly platform with a straightforward interface and easy-to-use features, while Bitstamp Tradeview is tailored to experienced traders.

Bitstamp Mobile can be downloaded for free on iOS or Android and features biometric authentication and a selection of order types. For more information, see our full Bitstamp review.

What We Like:

7. Binance – Lowest Fee Crypto Exchange for Commissions 

If you’re searching for the lowest-fee crypto exchange for commissions and the best P2P crypto exchange, Binance is a solid choice. You can trade crypto-crypto pairs like ETH/BTC at this popular online exchange at just 0.10%. This means a total stake of $100 would cost you just $0.10 in fees. On the Binance US website, you will find over 60+ supported best DeFi coins and all the top cryptocurrencies to invest in.

We should note that if you wish to buy crypto with fiat money, then additional fees will apply. ACH and bank wire transfers are processed fee-free, you will need to pay a buy commission of 0.5%. Moreover, you can add a further 4.5% to this fee if you wish to deposit funds with Visa or MasterCard.

Users signing up via this website are eligible for a $100 Binance bonus. 

As a result, this makes Binance an expensive option for those wishing to trade crypto in exchange for USD. Another thing to note about Binance is that the SEC does not regulate the platform. Binance is not licensed in any single jurisdiction – so the safety of your funds is at risk. To access your Binance account, use the main website or download the iOS/Android app.  

In addition to offering cryptocurrencies, Binance is a NFT marketplace that allows you to invest in the best NFTs to buy. Nevertheless, for those not satisfied with what Binance has to offer, there are several best Binance alternatives on the market.

What We Like:

8. Webull – One of the Best US Crypto Exchanges for Small Investments 

If you’re a beginner looking for the best altcoin exchange regarding account minimums, Webull could be for you. This is because when buying and selling crypto here, you only need to stake $1. This is the case irrespective of how much the crypto asset trades for – which is particularly handy for expensive tokens like Bitcoin and Ethereum. 

At Webull, trade all supported cryptocurrencies and US-listed stock options, equities, and ETFs without any commission or minimum deposit requirements. With advanced charting tools and technicals, Webull is perfect for new and experienced traders.

Another aspect that we like about this SEC-regulated platform is that you can invest via a retirement account. Moreover, you can deposit funds into your Webull account via ACH for free.

Webull also offers a wide selection of educational guides – and you can even trade via a demo account. Finally, consider downloading the free Webull app to trade crypto on the go.       

What We Like:

9. Huobi [HTX]- Top Crypto Exchange for Savings Accounts   

If you’re looking to combine capital gains with regular income – Huobi is one of the best crypto exchanges. This is because, besides offering hundreds of crypto markets, the exchange also offers crypto savings accounts that allow you to earn interest on idle investments.

On September 13, 2023, Huobi announced a new global brand strategy and refreshed its branding. They rebranded “Huobi” as “HTX”, where “H” represents Huobi, “T” stands for TRON, with a commitment to being fully dedicated to TRON, and “X” represents the exchange.

Regarding the exchange, HTX supports various cryptocurrency tokens of all shapes and sizes. You can buy and sell crypto assets on Huobi at a 0.2% maker/taker fee – and lower rates are available when you trade larger amounts. HTX operates a maker-taker pricing structure, so those providing the exchange with trading liquidity will benefit from even more competitive commissions.  

What We Like:

The Best USA Crypto Exchanges Compared   

Check out the comparison table of the 9 top crypto exchanges open to the US to help you choose the right platform.

For more details on the Crypto.com credit card, read our review here.

The above fees and markets are specific to US-based investors at the time of writing. More competitive commissions may be offered for those trading larger amounts or providing the exchange with liquidity. 

What is a Crypto Exchange?   

A crypto exchange is an online platform that allows users to trade digital currencies like Bitcoin. The exchange will sit between buyers and sellers, acting as a middleman. 

That is to say, when you use a conventional crypto exchange to buy Bitcoin, you will purchase the tokens from a seller using the same platform.  

The crypto exchange will collect a commission from you and mark up on the bid/ask spread. Top crypto exchanges in the US come in various shapes and sizes. 

For example, some crypto exchanges only allow you to trade digital asset pairs. This means that instead of trading Bitcoin against the US dollar, you’ll likely access pairs denominated in Tether. 

With that said, the best crypto exchanges in this marketplace support fiat-driven pairs like BTC/USD or ETH/USD. This means that you buy and sell crypto in exchange for US dollars.

There will also be a disparity in the number of markets supported by your chosen crypto exchange. For instance, Luno supports just six coins.

How do Bitcoin Exchanges Work? 

If you’re completely new to Bitcoin exchanges, the setup and investment process is largely the same across all providers.

Here’s what you need to know:

Accounts and Funding

First and foremost, all crypto exchanges will require you to open an account before you can start trading. However, the information collected from the exchange will depend on whether you deposit funds in US dollars or crypto. 

If it’s the latter, you will likely only need to provide your email address to get started. On the other hand, if you seek USD deposits and withdrawals, the exchange will ask for your personal information and a copy of your government-issued ID.  

Either way, you must deposit funds into your account to buy and sell crypto online. 

Markets

In terms of available markets, you will either have the option of crypto-crosses or fiat-to-crypto pairs. Some exchanges might offer both. 

For those unaware, crypto-crosses are trading pairs that contain two digital currencies. Examples include BTC/USDT and ETH/BTC. 

Fiat-to-crypto pairs allow you to trade digital currencies against the US dollar and other currencies. Examples include BCH/USD and BTC/USD. 

Irrespective of which pair you wish to trade, the best crypto exchanges offer a simple search facility. For example, at Bitstamp, if you want to buy Bitcoin, you simply have to search for ‘BTC’. 

Orders

Once you have landed on the relevant page for your chosen crypto pair, you must set up an order. This instructs your chosen exchange on which position you wish to enter. 

If you’re a newbie, this can be somewhat complex to understand. To keep things simple, you are best off using a market order at Bitstamp, meaning your crypto trade will be carried out instantly at the current price. 

Alternatively, if you seek more flexibility from your orders, Bitstamp also offers take-profits and stop-losses. Trailing stop-loss orders are also supported. These order types allow you to enter and exit the crypto markets at predetermined prices. 

Finally, once you have set your order up, the crypto exchange will execute it. As noted earlier, you will be matched with a seller of the same exchange when buying – and visa-versa. 

The exchange will then add your tokens to your account wallet, which can be withdrawn in most cases. 

How to Choose the Best Crypto Trading Platform for You   

So, now that you know how the best Bitcoin exchanges work, we can explain the core metrics to look out for when selecting the right provider. 

This will allow you to sign up with the best exchange for your goals and investor profile.

1. Regulation

We mentioned earlier that US clients now have access to over 200+ crypto exchanges. However, you might be surprised to learn that few exchanges hold regulatory licenses. Even fewer are authorized by the SEC or registered with FINRA. 

• Considering this, you must check the regulatory status of a crypto exchange before opening an account or depositing any funds. 
• To give you an idea of what’s out there, Webull is regulated by the SEC. 
• This means that you can be sure about the legitimacy of these platforms. 

You then have the likes of Bybit, which is unregulated and registered offshore in the British Virgin Islands. 

2. Tradable Cryptos

There are more than 17,000 digital currencies listed on CoinMarketCap in 2023. While you won’t find a crypto exchange hosting every token, your ability to diversify can vary quite comprehensively depending on your selected provider.   

For example, if you were to trade crypto via Bitstamp, you would have access to over 50+ leading tokens. 

This covers large caps like Bitcoin and Ethereum and up-and-coming projects such as Decentraland and The Graph. 

Crucially, it’s wise to select an exchange that offers a wide variety of crypto assets so that you have the opportunity to broaden your investment horizons. 

Otherwise, if you come across a token that isn’t supported, you will need to open an account with another exchange to gain access to the respective market. 

3. Fees

Fees can be so complicated to understand at crypto exchanges that we have dedicated separate sections to give you a clearer idea of what to look for. 

Deposits/Withdrawals

You will need to deposit some funds when you first open an account with a crypto exchange. The fees will vary from provider to provider, depending on your preferred payment method. 

For example, no fees apply if you deposit funds with ACH at Webull. But, if opting for a domestic bank wire, you will pay $8 – irrespective of the deposit size. 

In another example, Coinbase charges no fees on local bank transfers. However, debit and credit card payments cost almost 4%. 

Trading Commissions

The commission is the next fee to check when searching for the best Bitcoin exchanges. You will pay This direct trading fee to the exchange for buying and selling crypto. This is charged as a percentage against your total position in a few rare cases. 

For example, when trading at Crypto.com, you will pay a commission of 0.40% per trade. For instance, if you decide to buy Celo, you’ll pay just 0.40%. This means that on a trade of $1,000 your commission will amount to $4. The same trade at Gemini, which charges a commission of 1.49%, would set you back $14.90.

Spreads

Irrespective of which asset class you are trading – you will always need to pay the spread. This is simply the difference between the buy and sell price of the asset – as per the exchange or broker you are using. 

In other words, this is the mark-up between the actual market price of your chosen cryptocurrency – and the rate offered by your chosen Bitcoin trading platform. 

The key problem with evaluating the spread is that Bitcoin trading platforms rarely display it. As such, you often have to dig deep into the platform’s terms and conditions. 

4. Wallet

Once you have assessed the fees your chosen crypto exchange charges, it’s worth thinking about storage. All crypto exchanges discussed on this page offer a standard web wallet. 

This means that the tokens you buy will be kept in the crypto wallet controlled by the exchange – so it is the provider’s responsibility to keep your funds secure. This isn’t a problem when you use a regulated platform like Webull. 

Keeping your crypto tokens in a secure web wallet will make cashing out fast and convenient. 

However, many crypto exchanges are unregulated, so keeping your tokens in a web wallet can be risky. On the other hand, the best Bitcoin exchanges will also offer a proprietary wallet that comes in the shape of a mobile app. 

5. Tools & Features

The best crypto exchanges in the US will offer tools and features that cover everything from chart analysis and education to price alerts and passive investment tools. 

Some of the most effective tools and features that we came across during the exchange review process included the following:

Pricing Alerts

Top crypto exchanges like Bitstamp, Binance, and Coinbase provide a handy feature called real-time pricing alerts. This tool ensures instant notifications when a cryptocurrency reaches a specific price. For instance, if you’re eyeing Bitcoin, which started in 2023 at around $20,000, and you plan to invest when it reaches $30,000 (a crucial resistance level), setting an alert will notify you on your phone when Bitcoin hits $30,000.

Charting Tools

If you have some technical analysis experience, you will find an assortment of charting tools at the best crypto exchanges. 

In addition to technical indicators, you might find drawing tools and even integration with TradingView. 

Payment Methods

If you’re looking to deposit funds in the most convenient way possible, you will need to choose an exchange with the legal remit to accept US dollar payments. 

For example,  Webull only accepts ACH and bank wires, and the former attracts a deposit and withdrawal fee of $8 and $25, respectively. 

Some exchanges will not accept US dollar deposits at all, meaning that you must fund your crypto account.  

6. Customer Service

The overall best crypto exchanges that we came across offer a superb level of customer service. This includes speaking with a live agent in real time via a chatbox. As a bonus, the best crypto exchanges will offer customer support on a 24/7 or 24/5 basis. 

Unfortunately, we came across a large number of crypto exchanges that only offer support via email. This means that instead of speaking with a customer represented directly, you will need to wait for a reply. 

7. Mobile App

Mobile usage is the final metric to consider in your search for the best Bitcoin exchanges in the market. 

In a nutshell, using an exchange offering a top-rated mobile app will ensure that you can trade crypto no matter your location. 

Moreover, assessing whether the crypto exchange app is user-friendly is important – especially when placing buy and sell orders. 

How to Use a Crypto Exchange in the US 

Following the steps below, you will learn how to register an account with Coinbase and make a deposit – all in 10 minutes. 

Step 1: Open an Account 

First, visit Coinbase.com and fill out the registration form. You’ll receive a verification email. Follow the prompts.

Step 2: Upload ID 

The next part of the registration process will require you to upload an ID. 

This is standard across most crypto exchanges and requires that you fill out a form with your personal information and upload a valid ID document as proof.

Step 3: Deposit Funds 

Now, you will need to add some capital to your Coinbase account. You can deposit using bank wire, ACH, or a debit/credit card.

Step 4 – Buy Cryptocurrency

You are ready to buy cryptocurrency once the funds have hit your trading balance. Simply search for the ticker symbol of a crypto asset you wish to invest in – such as BTC – by typing it into the search box. Then, hit ‘Buy’ and enter the amount you wish to invest.

Latest Crypto Exchange News

Before concluding this guide, let’s take a look at some important exchange-related news stories for the week:

• FTX exchange has recovered $5 billion in liquid assets, attorneys told a Delaware bankruptcy judge, which could now be used to repay customers
• Twitter has followed leading exchanges by launching and expanding its ‘$Cashtags’ feature. This feature lets Twitter users get up-to-date pricing data on over 30 cryptocurrencies through the site.
• Top crypto exchange Huobi has launched a brand-new crypto debit card in Europe through a partnership with Solaris. This card, facilitated by Visa, will now allow Huobi’s users to pay for items using their crypto holdings.
• Finally, one of Sweden’s top regulatory agencies has announced that Binance can now offer its services. This means that traders from Sweden can now legally buy and sell digital currencies using Binance.

Conclusion 

Whether you are a beginner or an experienced crypto investor, choosing the best crypto exchange for your goals and skill set is important. After all, to trade crypto, you will need to risk your hard-earned capital. 

If you prioritize deep liquidity, high security, low fees, a diverse range of assets, or a user-friendly mobile experience, choose an exchange tailored to your needs.

FAQs on Crypto Exchanges