Regulated US crypto exchanges, by-and-large, are seemingly among the safest crypto exchanges in the world.
That said, what happens with the FTX US fiasco remains to be seen.
We do know that many international exchanges are proving to be wilder than the wild west ever was, thanks to a lack of regulation.
US crypto exchanges have come a long way since the boom-and-bust crypto cycle of 2017/2018. In fact, they’ve even made some pretty good strides since the 2020/2021 cycle.
If you’re just now or recently getting into crypto, then consider yourself lucky that you have regulated crypto exchange options like Coinbase, Binance US and even Gemini, despite their recent issues with Gemini Earn.
These exchanges provide an on and off ramp for USD, as you enter and exit your crypto assets.
“Old School” US Crypto Exchanges
For a long stretch, it seemed as if only “old school” exchanges Coinbase and Gemini offered direct crypto purchase with USD.
And those exchanges only offered a meager handful of usual suspect cryptos (BTC, ETH, LTC, etc.) from which to purchase.
That means that if you wanted to buy the likes of Solana, Avalanche or Cardano, you would have had to deposit USD. Then buy Bitcoin, Ethereum or another token.
And then send that token to a smaller, often riskier and/or sketchier exchange, and trade it for the coin you wanted. In the process, you’d incur a taxable event for each trade.
Nowadays, Coinbase, Binance US, Kraken and a few others offer a robust selection of cryptocurrencies, often 50 or more. And they’re available for direct purchase with USD.
Plus, they’re continuously adding new coins. So if you’re like me and looking for slightly more obscure layer-1, gaming or other niche coins, you just might find what you’re looking for on their exchange.
I currently use all of the exchanges below, often for different purposes. For example, as of now, only Binance US has NEAR protocol, so I purchase my tokens there.
I’ve been using Gemini and Coinbase for more than five years. I use them from a computer, not their phone apps, due to a brutal SIM card hack I recently experienced in which I lost nearly $5K.
Also, I log in with a two-factor authentication method such as Google Authenticator, not one that uses phone text verification.
These are just some measures, in addition to hardware wallets and seed storage devices, that I take to protect my funds and coins. I strongly suggest you take measures to protect your funds and coins, too.
Best US Crypto Exchanges
With the collapse of FTX and much skepticism around crypto exchanges as of late, the below list is by no means set in stone. But it’s a solid starting point. Now, let’s get into it.
1) Coinbase
Coinbase is the largest cryptocurrency trading platform in the United States by volume.
The exchange is certainly easy to use for beginners and a great place for newbies to get their start in crypto.
Coinbase sells more than 30 different cryptocurrencies, and the platform is available in more than 100 countries. The company has introduced Coinbase card, a debit card that turns your everyday purchases into crypto rewards.
They also have a direct deposit option that allows you to deposit your paycheck into Coinbase and automatically convert it to Bitcoin or another cryptocurrency.
With Coinbase having been in the business as long as it has and developing a noteworthy presence, it’s a worthy option to consider.
Coinbase Key Features
- Buy, sell and trade cryptocurrencies
- 130+ cryptos currently on offer
- Advanced charting features
- Robust liquidity
- Good security features
2) Binance US
I remember the good old days of trading on Binance from the United States (without a VPN).
Those days, due to US government regulations, are now long gone. US citizens now have the less robust, but considerably more regulated Binance US on which to buy, sell and trade.
Note that Binance US is currently unavailable in several US state including Hawaii, New York, Texas and Vermont.
Binance US is a partner of Binance, which is that largest cryptocurrency exchange in the world. The platform was founded in 2017 by one of the now most famous and polarizing figures in the digital currency space, Changpeng Zhao.
Binance US lets you trade 100+ cryptocurrencies using high-speed trade execution. The exchange offers a “one-click purchase” option that’s great for those who are new to crypto.
The platform also facilitates recurring buy orders so you can dollar cost average into coins.
For more advanced users, there’s a powerful interface with real time order books, charting tools and numerous crypto pairs.
Binance US Key Features
- Buy, sell and stake cryptocurrencies
- 100+ cryptos currently on offer
- One-click purchase option
- Recurring buy orders for dollar cost averaging
- Mobile app
- Great for advanced users: real-time order books, charting, pairs
3) Gemini
Gemini is a private cryptocurrency exchange launched by Cameron and Tyler Winkelvoss in 2014.
That’s right, the same guys who went to Harvard with Mark Zuckerberg. And who they later sued claiming that he stole their ConnectU idea to create the social networking site Facebook.
And of course, which David Fincher made a really fun movie about called The Social Network.
The Gemini crypto exchange has a mobile app, payments app and active trader app that allows you to fill orders, view order books and trade pairs. It also has its own “stablecoin” currency, the Gemini Dollar.
Gemini exchange is what I consider a very classy exchange with a clean interface, user-friendly vibe and considerable security infrastructure.
The exchange is regulated by the New York State Department of Financial Services, which puts it in a league of its own as far as reputability goes.
Add to that, in the world of crypto, the Winkelvoss twins are two of the most well-respected and transparency-minded individuals. They have a genuine interest and passion for growing the crypto space as a whole.
All of which and more makes Gemini crypto exchange one of the most appealing US crypto exchanges.
Gemini Key Features
- Platform for buying, selling and staking cryptocurrencies
- 60+ cryptos currently on offer
- Mobile app, payments app, active trader app
- Gemini Staking allows you to earn APY
- Gemini Credit Card allows you to earn rewards in crypto
- Mobile app
- Strong focus on security and compliance
- Great UI
4) Kraken
Kraken is a US-based crypto exchange, founded in 2011, and one of the world’s largest crypto exchanges.
Kraken allows you to purchase 185+ cryptocurrencies via their website exchange or their mobile app.
The platform also has staking, margin trading and futures trading.
According to their website, Kraken currently has over nine million clients, is supported in 190 countries and does over $200B in quarterly trading volume.
Their website has a robust Learn Center with in-depth resources for better understanding Bitcoin and cryptocurrencies.
They also have 24/7 support via live chat, phone and email.
Kraken has a number of security measures in place, including Proof of Reserves and Custody Security. The later features cold storage crypto infrastructure housed in secure cages under 24/7 armed guard surveillance.
Kraken Key Features
- Supports trading, staking, margin and futures
- 185+ cryptos currently on offer
- Learn Center for crypto education
- NFT marketplace coming soon
- 24/7 support via live chat, phone and email
5) Crypto.com
Crypto.com is a phone app and web exchange that supports trading, investing, staking, wallets, NFTs and more.
It has a robust selection of 250+ cryptocurrencies from which to choose, which makes it a standout in this area among the exchanges.
The exchange has a native token, CRO, which facilitates transactions using its own blockchain. CRO can be used to pay transaction fees and staked to become a validator and earn rewards.
You can also earn yield on a large variety of other cryptos.
Crypto.com has a Visa card that allows members to earn cash back in the form of CRO rewards, among other benefits.
All-in-all, the Crypto.com ecosystem of products allows you to do a lot with your cryptocurrency in one place. In theory, this may provide you flexibility and convenience you won’t get elsewhere.
Crypto.com Key Features
- Supports trading, investing, staking, wallets and NFTs
- 250+ cryptos currently on offer
- Native token CRO allows you to stake/earn rewards
- Earn rewards with Crypto.com Visa card
- All-in-one ecosystem for convenience
Final Thoughts on US Crypto Exchanges
If you’re in the crypto space long enough, chances are you’ll want to engage with a variety of different cryptocurrencies.
That means you’ll likely have to open multiple accounts in order to find and buy/sell/trade the exact tokens you want.
This is a good thing because it allows you to get familiar with multiple exchanges, like the ones above, and decide for yourself which are the best exchanges for you.
Ultimately, there’s no better way to get to know an exchange than to dig in, explore its features and use it for yourself.
Disclaimer: The above is the writer’s opinion and should not be considered investment advice. Readers should do their own research and/or consult a financial advisor. Any actions taken based on the information above is at the reader’s own risk.