Largest us bitcoin exchange

Buy Crypto & Bitcoin in the USA

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Chapter 1

Bitcoin & Cryptocurrency Trading in the USA

The cryptocurrency exchange you use will depend on what your goals are. Some people buy only bitcoin, while some buy many cryptos. Some trade, while some buy and hold.

We’ll outline some of the best options for each type of buyer and trader.

Best for Buying

If your only goal is to buy Bitcoin, Ethereum or another coin, the following exchanges have smooth and easy buying processes:

• eToro
• Coinbase

Best for Trading

If you plan on trading in and out of different coins, the following exchanges support many cryptocurrencies:

• eToro
• Coinbase Pro

Best for 401K or Retirement

If you want to save Bitcoin using money from your 401k or an IRA, then you should open a Bitcoin IRA:

Now, let’s give a bit deeper into some of the exchanges mentioned above with our detailed overviews.

Chapter 2

Top Cryptocurrency & Bitcoin Exchanges in America

eToro is a trading platform based in the United States. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.

Deposits can be made quickly via bank transfer or ACH. It also offers unique features like copy trading.

Limited time offer: Get $50 free once you trade $1,000 worth of cryptocurrency.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

• Offers unique copy trading feature
• Trusted exchange that has been active in traditional finance
• Interface is clean and easy to use

• You cannot deposit cryptocurrency, but you can deposit with other payment methods

Coinbase is probably the fastest and easiest way to buy bitcoins in the USA.

If you need bitcoins fast, then buying with a debit card is a good option. Coinbase charges 3.99% fees for debit card purchases but you can get your coins instantly.

Another payment option for US customers is using a connected bank account. The fees are less for this method—1.49%—but your coins are only delivered after five days.

Get up to $36 in free crypto when you signup using Coinbase Earn.

• High liquidity and buying limits
• Easy way for newcomers to get bitcoins
• «Instant Buy» option available with debit card

• Purchases made with bank transfer can take up to 5 days to complete
• Coinbase may track how and where you spend your bitcoins

Coinbase’s exchange, Coinbase Pro, is one of the largest Bitcoin exchanges in the United States. Users can fund their accounts via bank transfer, SEPA, or bank wire. Coinbase Pro offers good prices and low fees, but their confusing user interface may initially prove difficult to navigate.

• Some of the lowest fees available for US and EU customers
• Possible to buy bitcoins for 0% fees

• User interface is confusing for first time buyers

Chapter 3

Best Bitcoin Wallet for USA

Bitcoin wallets are just software or hardware, so the truth is that wallets can work in any country.

However, we’ve highlighted some Bitcoin wallets we think would be good for US users here.

Best for Security

Ledger Nano X

Secure storage for any cryptocurrency

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Temporary Wallet

Coinbase

Best for buying bitcoins & cryptocurrency

Coinbase is NOT a wallet. You can use it to buy bitcoins, but send them out of Coinbase after buying.

Best for Desktop

Electrum

Simple yet powerful desktop wallet

Electrum is a Bitcoin-only wallet that has been around since 2011. It’s easy to use, but has advanced features.

Chapter 4

How to Buy Ethereum in United States

Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in United States that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

Chapter 5

How to Buy Dogecoin in United States

Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

Chapter 6

How to Buy Litecoin in United States

Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in United States that allow you to buy litecoin and other crypto assets for good exchange rates.

Chapter 7

More Bitcoin Exchanges in the USA

If none of the above exchanges fit your needs, you can try one of the exchanges below.

Bitcoin IRA offers a tax-advantaged way to invest in Bitcoin and Ethereum using your 401k or other retirement savings.

Bitcoin IRA is a US licensed IRA custodian, so you know your crypto or Bitcoin IRA is in full compliance with the Federal Government.

• Tax Advantaged Bitcoin Savings
• Easy to set up account

• Cannot custody the Bitcoin yourself

Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.

Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.

Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.

• Works in almost all countries
• Highest limits for buying bitcoins with a credit card
• Reliable and trusted broker

• Some of the highest fees among credit/debit card bitcoin brokers

Gemini is a New York-based Bitcoin exchange, open to residents of the United States, UK, Canada, Hong Kong, Japan, Singapore and South Korea. Deposits can be made via wire transfer, SEPA or ACH transfer.

Get $20 of free BTC after trading $100 or more within 30 days.

• Trustworthy and regulated exchange
• Instant deposit lets you buy coins quickly (but not withdraw them)
• Some of the lowest fees in the US and Canada

• Somewhat confusing to use for new buyers
• Not yet available in all US states

Swan Bitcoin is a dollar cost averaging Bitcoin exchange, where users can set up recurring Bitcoin purchases to be drafted from their bank account or credit card every month or week.

Get $10 in free BTC when you make your first purchase.

• Easy to set up
• Automated dollar cost averaging
• Very low fees

• First purchase takes awhile
• No way to sell on platform

LibertyX is an American service which makes buying bitcoins with cash simple. First, use LibertyX’s app to locate a store near you that sells LibertyX codes. Next, enter your LibertyX code to the app, along with your Bitcoin address and you’ll receive your bitcoins very soon after.

If you connect a Facebook account to your LibertyX app, your first $1,000 of purchases are fee-free. Otherwise all purchases cost 1.5% + $3 in fees.

• Easy and fast way to buy bitcoins with cash
• Low 1.5% (plus store fee) rate for cash purchase method
• Daily $1000 limit is fairly high for a convenience service

• Participating stores add their own variable fee
• Some verification is required which lowers the expected privacy level of cash purchase
• Attaching your Facebook account further degrades privacy

You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they’re also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.

• Our map makes it super easy to find a Bitcoin ATM near you

• Bitcoin ATMs often have 5-10% fees per purchase

Chapter 8

Bitcoin & Cryptocurrency Trading in the USA

Bitcoin is a digital currency that has been around for almost a decade now. It was created in 2009 by Satoshi Nakamoto, but the developer’s true identity has never been verified. It took some time for the world to embrace Bitcoin, but it eventually found its way in to the U.S. financial markets.

Here is a comprehensive insight into the history, legality, and mining of Bitcoin in the U.S.A.

Bitcoin has been in use in the USA since its development. It has not always been considered as a legal currency, but its decentralized nature made it difficult for the government and financial regulators to control its use.

There are three crucial events that define Bitcoin’s history in the U.S. The first event is the U.S. Treasury’s classification of Bitcoin, as a decentralized and convertible virtual currency. This classification came in 2013, five years after the unveiling of the cryptocurrency. It paved the way for the legalization and general acceptance of Bitcoin in the country.

The 2013 classification was followed by another classification in 2015, this time by the Commodity Futures Trading Commission (CFTC). This commission officially classified Bitcoin as a commodity towards the end of 2015 – this classification meant that Bitcoin would be liable to taxation by the Internal Revenue Service as it was categorized as property.

The third significant event in Bitcoin’s history in the U.S.A. came in 2016 when a federal judge ruled that the virtual currency is money just like any fiat currency. This came following the prosecution of Anthony Murgio, who was accused of running an unlicensed Bitcoin exchange platform. U.S. District Judge Alison Nathan ruled that Bitcoin qualifies as money citing a similar ruling earlier in 2014 by U.S. District Judge Jed Rakoff.

Over the years, Bitcoin has become more entrenched in the U.S., and its adoption is still ongoing.

There is now tons of media to consume if you want to learn more about Bitcoin, from Bitcoin youtube channels to Bitcoin podcasts.

If, however, you want to buy Bitcoin and not just learn about it, one of the easiest ways to do so in the USA is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in the USA, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

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Best Bitcoin Exchange for US in 2020

For new users looking to enter the world of Bitcoin and cryptocurrency, there is a plethora of options to go about obtaining and trading these digital assets. Exchanges are the main way for users to buy and sell crypto and there are dozens of different places to do so. In this guide, we will highlight the largest and most reputable exchanges and dive in to the pros and cons of each. Each investor has different needs and preferences, so this will help determine which each may be right for you.

Some of the main factors to keep in mind when choosing an exchange are:

• Fees
• US Dollar Deposits
• History of Security
• Customer Service
• Number of Coins Available

Most Trusted Bitcoin Exchanges That Accept US citizens

Bitcoin Exchange	30-day Volume ($)	Fiat Deposits	# of Coins	Mobile App	Margin Trading	Credit Cards
Binance	24.1B	No	100+	Yes	No	Yes
Coinbase	2.1B	Yes	12	Yes	No	No
Kraken	1.7B	Yes	20	No	Yes	No
Bitstamp	1.2B	Yes	5	Yes	No	Not US
Poloniex	303M	No	65+	Yes	Yes	No
Gemini	292M	Yes	6	Yes	No	No

Binance

• Lowest Trading Fees
• Most Coins
• Largest Volume
• No KYC Necessary

• No Fiat Deposits
• No Margin
• Regulatory Risk

Binance Fee Table

Deposit	Free
Trading	0.1%
Credit Card	3.5% or $10 (whichever is higher)
Withdraw	Varies by asset

Binance is one of the largest exchanges in the world by total daily volume. It is by far the largest of any exchange available to US investors. This is quite impressive as it launched several years later than all of its competitors in mid-2017. It was originally started by a team out of Shanghai, led by its famous CEO Changpeng Zhao, or CZ. However, recently it has moved its headquarters to Malta where finance and crypto regulations are much less stringent.

Binance is a popular exchange because it has a simple to understand, low fee structure. It has one of the lowest fees for US investors and offers the most cryptocurrencies to trade out of any major exchange with well over 100. If investors trade using its own cryptocurrency BNB, they will receive an additional fee discount. Additionally, its large daily volume ensures efficient markets, so traders are always able to easily buy and sell even relatively obscure coins. It is also one of the only large exchanges that does not require customers to provide their identity and other financial details. Most customers only need an email address to start trading.

Additionally, there is no margin trading. There is a mobile app, but it is not as user friendly as some of its competitors.

Coinbase

Coinbase Pros:

• Great History of Security
• FDIC Insured
• Good for Beginners
• Coinbase Pro for Advanced Trading

• High Fees (You can get lower using Coinbase Pro)
• Slow Customer Support
• No Credit Crad or Margin

Coinbase Fee Table

Deposit	Free (ACH) or $10 Wire Transfer
Trading via Coinbase	US Bank Account 1.49% Coinbase USD Wallet 1.49% Credit/Debit Card — 3.99%
Trading via Coinbase Pro	Taker Fee .05% — .025% Maker Fee 0.00% — 0.15%
Withdraw	Free (ACH or Paypal) or $25 (Wire Transfer)

Coinbase is the most successful crypto exchange that is based in the US, in terms of profitability and average volume. Founded in 2014 by ex-Airbnb staff, Coinbase has its headquarters in San Francisco and offers a website and mobile app to trade cryptocurrencies.

Its simplistic, user-friendly interface makes it a great option for investors just learning about the crypto ecosystem. However, it also boasts Coinbase Pro (formerly GDAX), a more complex platform that is geared for sophisticated traders and institutions. The Coinbase Pro product offers lower fees and several more cryptocurrency trading options. Coinbase has a transparent and reputable past with security. It has never had any major security incidents and insures deposits of US Dollars and cryptocurrencies.

However, Coinbase has some of the highest fees when trading in USD pairs. This is a significant downside for investors that are looking to buy or sell in large volumes. Additionally, Coinbase does not have that best track record when it comes to customer service. Many customers in the past have complained about response times and getting locked out of accounts without explanation, though this has improved markedly in the last 2 years. More serious traders will also be disappointed that there is no margin trading and no credit cards purchases allowed anymore.

Kraken

Kraken Pros:

• Margin Trading
• Oldest Exchange in US
• Can Trade Tether for USD

• No Mobile App
• No Credit Card
• Past Maintenance Issues

Kraken Fee Table

Deposit	Free
Deposit	$5
Trading	0.14% — 0.26% (under $100k)
Withdraw	$5

Kraken is the oldest US-based crypto exchange with its headquarters in San Francisco. Its founder, Jesse Powell, started it in after witnessing the failures of the now-infamous Mt. Gox exchange, with trading first going live in 2013. Kraken is the third largest in terms of trading volume of all exchanges on this list.

Kraken has several unique advantages over its competitors. It is the only exchange for US investors that offers both fiat deposits and margin trading. Investors can link their bank account and trade in US Dollars, which is very useful for frequent traders. Margin trading allows investors on Kraken to borrow money in order to place larger trades. This leveraging enables savvy investors to magnify gains, though it is very risky and should only be done by experienced traders.

Additionally, Kraken is one of the only exchanges in the world that allows investors to redeem Tether for US Dollars. Tether is the largest stablecoin (i.e. a cryptocurrency pegged to the dollar). Tether is popular among traders because it allows them to realize their gains on crypto-only exchanges. Thus, Kraken can be useful for traders who use multiple exchanges and want an efficient way to cash out into US Dollars.

On the other hand, Kraken is the only major exchange for US investors that does not offer a mobile app, making it less convenient and accessible. Additionally, over the past two years, Kraken has experienced long periods of outages where its site would be down for days at a time. Though there were no issues with lost funds or hacks, it was a serious problem for investors trying to trade during periods of extreme market volatility.

Bitstamp

Bitstamp Pros:

• One of the Oldest Exchanges Globally
• FDIC Insured
• Good History of Security

• Limited Number of Cryptocurrencies
• US Customers Have Higher Fees
• No Credit Cards for US Customers

Bitstamp Fee Table

Deposit	0.05% or $7.50 (whichever is higher)
Trading	0.24% — 0.25% (under $100k)
Withdraw	0.09% or $15 (whichever is higher)

Bitstamp is one of the oldest and most reputable crypto exchanges in the world. Historically, it has mainly been focused on the European market. It was originally based in Slovenia and later moved to Luxembourg. Now, it also has operations in London and New York.

It is still one of the largest and best exchanges to use for European citizens due to its low fees. It provides access for US citizens, though its services are more limited, and fees are higher. For instance, it does allow credit card purchases for US citizens. Deposit and withdraw fees are some of the highest in the market, particularly for retail investors make smaller investments. Also, it only offers a few of the most popular cryptocurrencies.

However, it can still be a great option for some US investors. It has a stellar security record and has been around longer than almost any other exchange in the world. It allows US Dollar deposits and all deposits are FDIC insured. Also, Bitstamp has an easy to use interface and its trading fees are modest.

Poloniex

Poloniex Pros:

• Lots of Cryptocurrencies
• Low Fees
• Margin Trading
• Ability to Lend & Earn Interest

• No Fiat Deposits
• Lower Volumes
• No Credit Cards

Poloniex Fee Table

Deposit	Free
Trading	0.08% — 0.20% (under $1M)
Withdraw	Varies by asset

Poloniex was started in 2014, like so many of its competitors. Poloniex is US-based with its headquarters in Boston. It is very popular with experienced crypto traders, as it offers more advanced features and a significant amount of cryptoassets to trade. For users just trying to buy their first Bitcoin, it would not be the optimal place to start.

Poloniex has very low fees. It is free to deposit, but they only accept deposits of crypto. Investors cannot link a bank account or purchase with a credit card. It trades over 65 different cryptocurrencies, which is the most for an exchanged based out of the US. However, despite the vast amount of assets it offers, Poloniex experiences much lower volumes than its competitors on the list. For reference, it often has daily volumes that are 10 times smaller than a leading exchange like Binance.

Poloniex also offers investors features they cannot find many other places. For example, they are the only exchange to offer margin trading besides Kraken. However, a vital difference is that it also allows users to take both sides in the margin trading. In other words, users can borrow assets and also lend their own assets, earning interest in the process. Because it offers risky trading services and relatively obscure coins, Poloniex is best suited for experienced crypto investors.

Poloniex is now owned by Circle, which is a subsidiary of Goldman Sachs.

Gemini

Gemini Pros:

• Great for Institutional Investors
• FDIC Insured
• No Deposit or Withdraw Fees

• Limited Number of Crytoassets
• High Trading Fees for Retail Investors
• No Margin

Gemini Fee Table

Deposit	Free
Trading	0.25% — 1.50% (under $50k)
Withdraw	Free

Gemini is known as one of the best exchanges for institutional investors. It was started in 2014 by the Winklevoss brothers – the infamous Harvard twins involved in the founding of Facebook. Gemini is based out of New York, which is notable for two reasons. First, New York is notoriously stringent with crypto regulations and licenses for exchanges. Additionally, running out of New York allows Gemini to more easily capture the Wall Street and institutional money looking to enter the crypto world.

Gemini has built a trustworthy reputation in an attempt to make crypto credible in the eyes of the traditional financial system. All US Dollar deposits are FDIC insured. Also, being based in New York subjects them to stronger regulatory oversight, giving investors greater peace of mind.

Their supplementary services besides buying and selling crypto are also catered to institutions. For example, they offer custody services which many large funds need for compliance. They also have a large OTC (over-the-counter) desk and gear their service towards investors trading millions of dollars a week. However, they currently do not offer margin trading.

Though it may not be the cheapest place for retail investors. It does offer an easy to use mobile app. It has relatively high trading fees, though deposits and withdraws are free. It also offers its own stablecoin called the Gemini Dollar.

Bitcoin & Cryptocurrency Exchange FAQs

What is a cryptocurrency wallet?

A wallet is the place where you store your crypto. It is like an account from which you can send or receive crypto. A very important difference though is that different Cryptocurrencies will usually need different crypto wallets. For instance, you cannot store Bitcoin in an Ethereum and send BTC to an ETH wallet will result in lost funds.

A wallet address is sort of like an account number. It is a long string of numbers and letters, known as a public key. It also has a corresponding QR code. You can use either to send or receive crypto. Each exchange will have a wallet for each cryptoasset traded. Exchanges will take of all the wallet logistics when trading within their platform. The only time investors need to take precaution is when depositing or withdrawing.

If I forget my password, will I lose my crypto forever?

When using any of the exchanges above, you will not lose your assets if you lose your password. All the above exchanges custody the assets on your behalf, much like a bank. Exchanges allow for resetting passwords and a customer support team like any other website.

You are only at risk for losing your crypto when using a self-custodial wallet service. These are separate applications and websites apart from the above exchanges. If you are using a decentralized exchange, you may be a risk, as well. Always look into the custody arrangements of an exchange before trading on it.

Is there any risk in leaving my crypto on an exchange? Why do some users insist on holding their crypto in their own wallets?

Like trading any financial asset, there are some inherent risks. When an exchange has custody of your assets, they are responsible for keeping them safe. There is always the possibility that something goes wrong, and you are unable to withdraw your assets or money. This is known as counter-party risk. Counter-party risk is common throughout the traditional financial system, but this risk is more pronounced in the crypto ecosystem. This is mostly because there is less regulatory oversight and most businesses are brand new – meaning they lack the reputation and trustworthiness of decades old financial firms.

In the past few years, several crypto exchanges have been hacked. Some exchanges have engaged in fraudulent accounting activity. In both scenarios, investors holding crypto on the exchanges have lost their money.

By withdrawing your cryptoassets and storing them in a private, self-custodial wallet, you can significantly lower the chance of losing your money. However, it is more complex and only recommended for advanced users. For new users, the best option would be to use a reputable exchange that also insures assets while learning the proper process to store them privately.

What is margin trading?

Margin trading is when an investor borrows money to make larger trades. There will be a margin fee associated that an investor must pay back, just like interest on a loan. Trading on margin allows investor to make considerable larger profits, but also can result in much larger losses. In some unfortunate scenarios, it can even lead to investors losing everything and still owing money to the lender. Exchanges that allow margin trading will monitor positions closely and usually automatically close out positions and take their fee on losing trades.

Margin trading can take place on different scales. Some exchange allows traders to borrow up to 1.5 or 2 times their holdings. Some exchanges even allow 10 times or more. In almost all scenarios, traders must put up some form of collateral.

The exchange says it allows credit card purchases, but it is rejecting my transaction. Why?

This is quite a common problem. Even though an exchange may allow credit card purchases, transactions might not go through. The usual reason is because the user’s bank or card issuer prohibits any purchases from crypto merchants. Many of the major banks and financial institutions have a policy not to allow crypto purchases. Check with your bank or issuer first before contacting an exchange’s customer support team.

Which cryptoassets should I buy?

Crypto investments can be extremely risky. Each investor’s financial goals and overall portfolio varies widely. Thus, the type of cryptoasset and proper allocation percentage will vary widely, too. All cryptoassets differ greatly in their technology, functionality, and market position. It is important to thoroughly research any investments and consult a professional financial advisor before making any investments. Exchanges do not provide investment advice, only the ability to buy and sell.

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