Cryptocurrency exchanges are the most convenient way to purchase, trade, and sell cryptocurrencies like Bitcoin (BTC) and Ether (ETH). This is the introduction to cryptocurrency; trade, buy and sell.

For starters, you will need to open an account at your chosen cryptocurrency exchange. Then, you can easily start buying and selling cryptocurrencies.

A crypto exchange works similarly to online brokerage platforms. They provide you with the instruments you require to buy and sell electronic money and tokens, like Bitcoin, Dogecoin, and Ethereum.

The cryptocurrency trading environment has developed from a completely uncontrolled "wild west" in which anyone may trade bitcoin without giving an I.D. to a heavily controlled financial sector governed by KYC and AML regulations for most major exchanges.

While enhanced regulation has enabled cryptocurrency exchanges to provide improved levels of security and dependability, rigorous regulatory requirements have created a fractured trading environment in which exchange availability is split by geographic region and jurisdiction.

There are currently hundreds of cryptocurrency exchanges available online, So as you select a cryptocurrency exchange, do keep in mind factors like supported assets, payment methods, security, and fees.

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Why Are Some Cryptocurrency Exchanges Unavailable In The U.S?

Yes, unfortunately, not all cryptocurrency exchanges are available in the U.S.

The United States exerts tremendous regulatory pressure on cryptocurrency exchanges, making it difficult for US-based crypto traders to determine which trading platforms are most suited to their needs.

Cryptocurrency exchanges operating in the United States are governed by the Commodity Futures Trading Commission (CFTC).

It implements numerous anti-money laundering programs and procedures, FinCEN regulations, etc., imposed by different government agencies.

For example, cryptocurrency exchanges operating in N.Y. State are classified as money transfer businesses, necessitating the acquisition of special authorization.

Many crypto exchanges that allow customers to deal in crypto assets are recognized as securities under U.S. federal securities laws and must also verify compliance with different SEC criteria.

The United States regulating cryptocurrency has established a market ecology in which US-based traders have been unable to register or sell on several prominent cryptocurrency exchanges and must instead utilize specialized US-specific exchanges.

For example, Binance has a specialized exchange for users in the United States.

What Should I Look For In A Crypto Exchange?

When selecting the correct crypto exchange, there are several typical variables to consider, such as the amount of identity paperwork necessary to join up, currency support, trading fees, and trade limits.

Choosing the correct crypto exchange while situated in the United States, on the other hand, imposes a few more restrictions on traders.

Aside from checking withdrawal and deposit options, security, and fee structures, it's critical to establish if the crypto exchange is legally allowed to operate.

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When evaluating a US-based, legal crypto exchange, consider the following table as your beginners' guide to cryptocurrency:

FactorsExplanations:
Identification RequirementsMany cryptocurrency exchanges in the United States will need additional identifying evidence, such as proof of address, than their foreign equivalents
Compliance with RegulationsTrading cryptocurrency in the United States entails doing it on an exchange that complies with U.S. cryptocurrency regulations
Trade RestrictionSome cryptocurrency exchanges in the United States limit the quantity of cryptocurrency that may be acquired or exchanged within a day
Support for Fiat CurrencySome crypto exchanges do not accept fiat cash, which reduces the quantity of identifying information required to open an account. If you intend to trade cryptocurrencies for USD, you must check that the exchange you select supports USD money
Security and HackingHackers routinely attack cryptocurrency exchanges and traders alike. It is critical to check that your trade has a solid security track record and has robust security features like as two-factor authentication
Pairs for tradingIf you want to buy or sell a particular cryptocurrency, ensure that the exchange endorses the crypto resource you would like to exchange before signing up. Few of the US-based exchanges, like Gemini, do not support as many cryptocurrencies as big international exchanges
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What Are The Safest Crypto Exchanges In The U.S.?

Choosing which U.S. regulation-compliant exchanges provide the highest security, service, and reasonable pricing may be difficult and time-consuming.

This piece will showcase the finest cryptocurrency exchanges for crypto market players in the United States.

For U.S. crypto traders presently, the following crypto exchanges are the safest options:

  1. Binance. US

Binance US is a US-only version of Binance, one of the world's most influential and frequently utilized cryptocurrency exchanges.

The Binance US platform, like Coinbase, was developed to meet exceptional U.S. legal standards for cryptocurrency exchanges.

The Binance US platform became operational in September 2019 and accounted for around 15% of Binance's worldwide traffic.

The number of crypto assets available is a significant difference between Binance US and the global Binance exchange platform.

Binance US filters crypto assets utilizing requirements that evaluate the legal standards of exchange operation in the U.S and quantitative requirements, reducing the total number of assets that can be bought and sold on Binance US.

Despite the relatively restricted number of crypto assets offered on Binance US, the Binance UI remains perfect for pro traders and crypto investors looking for more complicated trading tools.

Nevertheless, it should be noted that Binance US is not yet available to U.S. traders headquartered in New York.

  1. Coinbase

Coinbase is by far the most successful and popular cryptocurrency exchange in the United States, with an exceedingly user-friendly interface and trading experience.

It is an excellent alternative for both beginning traders and expert investors.

Users of Coinbase can choose between a basic Bitcoin brokerage platform with basic trading controls and a 'Coinbase Pro', a feature-rich interface designed for more intricate trading needs.

You can access the platform via a web interface or a specialized smartphone app.

While Coinbase may be a decent exchange for both beginner and experienced crypto investors, trading fees can be rather expensive, ranging from 0% to 0.60 percent depending on deal volume.

Notably, Coinbase has never been the victim of a major cryptocurrency attack and has a solid security track record.

On top of safeguarding customer cash, Coinbase actively stops users from transferring cryptocurrencies to common scam addresses, offering an added degree of security for inexperienced traders.

Funds maintained on this exchange are FDIC insured, implying that fiat cash placed on the Coinbase platform by U.S. citizens is covered by up to $250,000.

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Coinbase app opened on the phone
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  1. Kraken

Kraken is one of the most established US-based cryptocurrency exchanges. It provides a basic approach to bitcoin trading.

Unlike Coinbase, Kraken caters to professional cryptocurrency traders and provides advanced trading services such as margin trading.

The Kraken platform is only accessible via the web, but a mobile version is in the works and is now being tested in Germany, Spain, and the Netherlands.

Except for Washington State and New York, Kraken is available in every state in the United States.

Kraken offers all of the trading possibilities accessible to foreign traders to U.S. clients, apart from EUR trading pairs and deposits for people residing in Texas or New Hampshire.

  1. Gemini

Gemini is situated in New York City and is one of the few US-based exchanges that is entirely compliant with N.Y. state law.

Gemini, founded in 2014 by the Winklevoss brothers, is a highly regulated cryptocurrency trading company that works closely with authorities to maintain compliance, making the Gemini verification procedure fairly tricky.

Every USD deposits made to Gemini are FDIC insured, making Gemini an appealing choice for large-scale crypto traders and institutional investors.

Gemini presently has more than 1% of the world's total Bitcoin volume and is governed by New York banking law, making it the safest alternative for US-based crypto dealers.

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  1. CEX.io

CEX.io is a newer cryptocurrency exchange, having just obtained money transmitter authorization in nine jurisdictions around the U.S. in 2019.

CEX.io's new license increased the platform's scope, previously confined to states where money transmitting licensing was unnecessary.

CEX.io began as a mining company based on the cloud but quickly transitioned into a crypto exchange.

CEX.io provides a comprehensive choice of crypto assets to U.S. traders, including significant crypto assets like Ripple, Ethereum, and Bitcoin and lower cap assets like Cosmos, Ontology, and Matic.

The CEX.io exchange is now open to residents of 28 states in the United States.

CEX.io, like Coinbase, has two trading platforms intended for novice and experienced traders.

Infrequent or casual investors can use CEX.io's brokerage service to purchase bitcoin, while expert traders profit from a feature-rich, powerful trading interface.

How Superprof Can Help You Become A Crypto-Trading Pro

We have provided you with five crypto exchanges that you can turn to in the U.S. They are the safest and amongst the best crypto exchanges out there.

However, if you want to learn to trade, know more about cryptocurrency, or find out about cryptocurrency classes near you, Superprof is your one-stop-shop.

Our professional instructors will take you to the world of crypto and teach you all there is needed to know.

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