Compare Top Crypto Exchanges in New York

1. Coinbase

Coinbase holds both forms of New York authorization. Coinbase, Inc. received its BitLicense, the state's crypto business license, in January 2017. Coinbase Custody Trust Company followed with a limited purpose trust charter in October 2018, a banking-law authorization that requires it to hold customer assets in customers' interests.

Residents can deposit dollars by ACH, the standard US bank transfer, or wire. Free ACH deposits are available for immediate trading, although purchased coins cannot leave until Coinbase's hold clears three to five days later. Wires avoid that wait but carry a charge listed in our Coinbase fees guide.

The Coinbase Advanced order book displays live buy and sell offers. Since September 16, 2026, its US entry rates have been 0.50% for maker orders and 0.90% for taker orders. Maker orders wait on the book, while taker orders execute immediately. Our maker and taker fees guide explains the distinction.

Staking opened to New Yorkers on October 8, 2025, allowing them to lock coins to help run a blockchain and earn rewards. Coinbase retains 35% of Ether (ETH) and Solana (SOL) rewards.

Its record also includes regulatory and operational failures. NYDFS fined Coinbase $50 million in January 2023 for anti-money-laundering gaps. A 2025 breach exposed about 69,000 customers' details, and trading stopped for eight hours during a May 7, 2026 outage. Our Coinbase review covers these incidents.

Pros

• Trading and custody are covered by a BitLicense and a New York trust charter.
• New York residents have had approval to stake ETH and SOL since October 2025.
• Advanced entry fees of 0.50% and 0.90% are lower than Gemini ActiveTrader's and slightly below Robinhood's fee tiers.

Cons

• Coins purchased with a new ACH deposit cannot leave until the hold clears.
• The simple buy screen adds a spread to its fee, making it more expensive than Advanced.
• Past failures include a $50 million NYDFS penalty, a 2025 data breach and a lengthy 2026 outage.

2. Gemini

Gemini is the only platform in this guide that is itself a New York trust company. Gemini Trust Company, LLC received its NYDFS charter in October 2015 and falls under the state's banking examiners. Its parent's audited accounts are public following its Nasdaq listing as GEMI on September 12, 2025.

Funding by ACH or incoming wire is free. Outgoing wires cost $25, while card purchases carry a 3.49% charge. Coins bought with ACH deposits remain on the platform until the funds clear, usually four to five business days. According to Gemini, dollar balances may qualify for FDIC pass-through insurance at partner banks. That protection covers cash only.

Small accounts face relatively high trading costs. The ActiveTrader order book charges 0.60% maker and 1.20% taker below $10,000 in monthly volume, falling to 0.40% and 0.80% once that threshold is reached.

New York customers gained access to staking on February 10, 2026 for ETH and SOL. US customers cannot trade its perpetual futures, which are leveraged contracts without an expiry date. Alternatives appear in our regulated perpetual exchanges in the USA list.

A June 2024 settlement with the New York Attorney General bars Gemini from lending following the failure of Gemini Earn, which froze customer funds. In February 2024, NYDFS fined Gemini $37 million and secured at least $1.1 billion for Earn customers. The company later announced its departure from the UK, EU and Australia in February 2026. Our Gemini countries page tracks its remaining markets.

Pros

• The exchange has operated under New York banking supervision through its trust charter since 2015.
• Free ACH transfers and incoming wires, with potential FDIC pass-through coverage for cash.
• ETH and SOL staking has been available to New Yorkers since February 2026.

Cons

• ActiveTrader charges the highest entry-level order book fees in this guide at 0.60% and 1.20%.
• Gemini Earn's failure resulted in a $37 million NYDFS fine and a state lending ban.
• After reporting a large 2025 loss, the company withdrew from three overseas markets in 2026.

3. Robinhood

For New Yorkers who want crypto alongside their stocks, Robinhood offers both in one app. Robinhood Crypto, LLC has held a BitLicense since January 2019. Standard orders have no commission, but Robinhood earns from the spread between buying and selling prices. Its own disclosure states that market makers, the firms executing its orders, pay it $0.95 per $100 traded. About $9.50 of cost is therefore built into the price of a $1,000 purchase.

New York accounts can trade 58 coins. Robinhood's availability table lists 91 nationally, with 33 unavailable in the state, including BNB, HYPE, ONDO and PAXG. Active traders can use fee-tier pricing instead. This routes orders to partner exchanges and charges 0.50% maker and 0.95% taker below $10,000 in monthly volume.

Free ACH deposits typically make up to $1,000 available immediately. Wires cost nothing to receive and $25 to send. Once the deposit used to buy coins has settled, you can move them to an external wallet for the network fee alone. Product access is detailed in our Robinhood availability guide, while our Coinbase vs Robinhood comparison compares the two services.

Robinhood introduced ETH and SOL staking in New York on December 9, 2025 and retains 25% of rewards. Crypto remains unavailable inside a Robinhood IRA.

The company also owns Bitstamp, which has held a BitLicense since 2019. Its US accounts become sell-and-withdraw only on February 1, 2027 as customers move to Robinhood, so we no longer rank Bitstamp separately. Robinhood Crypto's own enforcement history includes a $30 million NYDFS fine in August 2022 for anti-money-laundering and cybersecurity failings.

Pros

• Standard orders carry no commission, with stocks and ETFs available in the same app.
• Robinhood's 25% staking commission is below Coinbase's 35% for the same coins.
• Incoming wires are free, and external wallet transfers carry no platform fee.

Cons

• New York accounts cannot access a third of Robinhood's national coin list.
• Standard orders include roughly 0.95% in costs within the spread.
• New US purchases on the Bitstamp order book end in February 2027.

4. Strike

Bitcoin-only Strike is the state's newest retail option. NYDFS granted its operator, Zap Solutions, Inc., a BitLicense and money transmitter license in February 2026. New Yorkers gained access to the app on March 5.

According to Strike's fee page, trading costs 0.89% until monthly volume exceeds $5,000, plus a spread targeting 0.22%. Recurring purchases lose the trading fee after their first week, leaving only the spread. Customers receiving their paycheck by direct deposit can also convert up to $20,000 per month without a fee.

There is no charge for ACH deposits, and Strike accepts wires for larger purchases. Its free Flexible withdrawal setting groups Bitcoin transfers and sends them to your wallet within about 24 hours. Faster withdrawals cost the network fee. New Yorkers can also use bill pay and, since April 2, 2026, Bitcoin-backed loans starting at $10,000 for a personal loan.

Strike says it holds customer Bitcoin one-for-one and never lends it out, but it does not publish a Proof of Reserves report. Some exchanges use these independent checks to demonstrate that they hold the assets they owe customers. Bitcoin held on Strike has no FDIC coverage, and anyone wanting Ether, Solana or staking needs another account elsewhere.

Pros

• After the first week, recurring Bitcoin purchases cost only the spread of about 0.22%.
• The Flexible setting provides free withdrawals to a personal wallet.
• Strike received its BitLicense in 2026, with bill pay and loans also cleared for New York.

Cons

• Only Bitcoin is available, without staking or an order book.
• A one-off purchase costs 0.89% plus the spread, exceeding Coinbase Advanced's maker fee.
• Strike has a short operating history in New York and publishes no Proof of Reserves report.

5. eToro

eToro combines US stocks, ETFs, options and crypto under one login. Its social feed lets users follow other investors. Although eToro NY LLC received a BitLicense in February 2023, crypto trading did not open to New York residents until April 1, 2026. The parent company has traded on Nasdaq since May 2025.

Crypto purchases and sales each carry a flat 1% charge, displayed separately from the price on eToro's fee page. Buying and later selling $1,000 of Bitcoin costs about $20. Bank deposits have a $50 minimum and a $10,000 daily cap. Wires start at $500, and dollar withdrawals of $30 or more are free.

The New York selection is limited compared with the 100-plus assets available in other states. Launch reports put it near 20. Residents also cannot use the wallet needed to transfer coins off the platform, as eToro lists New York among four states where that service is unavailable. Purchased coins must remain with eToro until sold.

The SEC fined eToro USA $1.5 million in September 2024 for operating as an unregistered crypto broker and clearing agency. Staking availability varies by state, and the New York launch announcement makes no mention of it. Anyone intending to hold their own keys should use another platform.

Pros

• A single account offers stocks, ETFs, options and crypto under a BitLicense.
• The separately displayed 1% fee makes trade costs easy to calculate.
• Deposit minimums are low, and dollar withdrawals are free.

Cons

• New Yorkers cannot withdraw coins to an external wallet.
• The state's coin list covers only a fraction of eToro's national offering.
• Each 1% trading charge is twice Coinbase Advanced's maker rate.

6. PayPal

For existing users, PayPal is the simplest way to buy a first coin without creating another account. Venmo offers the same approach. PayPal Digital, Inc. provides both services under a limited purpose trust charter granted by NYDFS in May 2024. Venmo's crypto service transferred to that entity on May 19, 2026.

Users can buy seven assets: Bitcoin, Ether, Solana, Chainlink, Litecoin, Bitcoin Cash and PayPal USD (PYUSD). The last is a stablecoin designed to maintain a one-dollar value. Its issuer, Paxos Trust Company, converted its New York charter to a federal charter in December 2025 and now falls under the Office of the Comptroller of the Currency.

Fees are relatively high. PayPal's fee table lists 2.20% for purchases up to $74.99, 2.00% up to $200, 1.80% up to $1,000 and 1.50% above that. The quote also includes a spread. Buying $1,000 of Bitcoin costs $18 before that spread, twice Coinbase Advanced's taker fee. PYUSD purchases and sales are free.

Coins can leave for an external wallet at the network fee, although there is no order book for setting your own price. Our guides to buying crypto with PayPal and with Venmo explain each app's limits and purchase steps.

Pros

• Existing PayPal and Venmo users need neither a new account nor another bank link.
• A New York trust company provides the service, with withdrawals to personal wallets supported.
• Buying and selling PYUSD carries no fee.

Cons

• Trading costs of 1.50% to 2.20% plus a spread are the highest in this guide.
• Only seven assets are available, without an order book or limit prices.
• None of the supported coins can be staked.

How to Choose a Crypto Exchange in New York

All six platforms legally serve New York residents. Your choice depends on which coins you want, the full purchase cost and your bank's transfer rules.

1. Match the legal entity to the NYDFS register: Licenses belong to individual companies. Find the operator in the user agreement, then check it against the NYDFS list of regulated entities. The six operators here are Coinbase, Inc., Gemini Trust Company, LLC, Robinhood Crypto, LLC, Zap Solutions, Inc., eToro NY LLC and PayPal Digital, Inc.
2. Check the New York coin list before you fund: National marketing pages show more assets than residents can buy. Robinhood excludes 33 of its 91 coins in New York, while eToro offers only a limited selection. Confirm your chosen coin on the platform's state availability page.
3. Plan the bank transfer around holds and limits: These platforms offer free ACH funding, but purchased coins may remain unavailable for withdrawal for up to five business days. M&T Bank caps outside transfers at $2,000 daily and $5,000 monthly. Chase may pause an initial payment to a new exchange. See our guides for Chase and M&T Bank customers.
4. Price a full purchase: For a $1,000 Bitcoin taker order, Coinbase Advanced charges $9, Robinhood's fee tiers charge $9.50 and Gemini ActiveTrader charges $12. Strike costs $8.90 plus its spread. At eToro, the fee is $10 on each side, while PayPal charges $18 plus a spread.
5. Confirm the coins can leave: External wallet withdrawals are available on five of the six platforms. eToro does not offer them to New York accounts. If you intend to hold your own coins, complete a small test withdrawal before building a position.

Several national exchanges are absent because they do not accept New York residents. Kraken excludes both New York and Maine, while New York is Crypto.com's only unsupported US state. Our Kraken and Crypto.com country pages detail their coverage. Uphold ended support for New York accounts on July 31, 2023. Charles Schwab also excludes residents from its Bitcoin and Ether trading service, launched in May 2026.

Bank policies matter too. Our crypto-friendly banks in the USA guide compares how major banks handle exchange transfers. Avoid buying crypto with credit cards, regardless of your bank. Large issuers, including Chase, Citi and Capital One, either restrict these purchases or treat them as cash advances, with a fee and interest charged from day one.

Crypto and Bitcoin Regulation in New York

New York residents can legally buy, hold and sell crypto without an individual license. Businesses trading, holding or transmitting crypto for them need a BitLicense or an NYDFS banking charter.

• June 24, 2015: The BitLicense regulation, 23 NYCRR Part 200, took effect. Licensed firms must satisfy capital requirements and operate anti-money-laundering and cybersecurity programs. They must also post a surety bond, a customer-protection guarantee generally starting at $500,000.
• June 8, 2022: NYDFS introduced rules for dollar stablecoins issued under its supervision. Full backing by cash and short-term Treasuries is required, along with redemption at one dollar within two business days. An accountant must check the reserves monthly.
• November 15, 2023: Under updated listing guidance, platforms need an approved policy to list coins on their own authority. Without one, they may offer only coins individually approved by NYDFS or included on its pre-approved Greenlist. The Greenlist currently contains Bitcoin, Ether and six approved stablecoins or tokens, including Gemini Dollar and Ripple USD.
• September 30, 2025: Revised custody guidance confirmed that customers retain ownership of coins held by a platform. Custodians must keep those assets separate from company holdings and may neither lend them nor pledge them as collateral.
• October 2025 to February 2026: Staking returned through individual platform approvals. Coinbase introduced it in October, followed by Robinhood in December and Gemini in February.
• February to July 2026: Strike, Galaxy and Mastercard received new approvals, while Circle secured a trust charter. eToro opened crypto trading to residents in April.
• June 9, 2026: NYDFS proposed converting its stablecoin guidance into regulation to align the state with the federal GENIUS Act, effective January 18, 2027.
• September 15, 2026: A 49-to-50 US Senate vote blocked advancement of the CLARITY Act, which would divide crypto oversight between federal agencies. No federal law currently overrides the BitLicense.

Crypto kiosks, the cash machines used to buy Bitcoin, are also under legislative review. Senate Bill S9891 passed the Senate in June 2026. It proposes daily limits, fee caps and a 72-hour hold on first transactions. The bill has not passed the Assembly and is not law.

A license does not insure customer coins. The Securities Investor Protection Corporation excludes crypto that is not a security, while FDIC protection applies only to dollars held at a bank. Customers whose accounts are mishandled by a licensed platform can file a complaint with NYDFS. Under 2024 guidance, licensed firms must provide a phone line and track complaints.

The Attorney General has separate enforcement powers. In April 2026, the office sued Coinbase and Gemini affiliates over prediction markets, arguing that bets on real-world outcomes constitute unlicensed gambling. Those undecided cases do not concern ordinary coin purchases and sales.

How Is Crypto Taxed in New York?

One crypto sale can create tax liabilities to three governments for a New York City resident. The state follows federal rules treating crypto as property, but it taxes gains at ordinary income rates regardless of how long the coins were held.

• Federal tax applies first: The IRS treats digital assets as property. Gains from coins held for a year or less face ordinary income rates of up to 37%. Longer holdings qualify for rates of 0%, 15% or 20%. Higher earners also owe the 3.8% Net Investment Income Tax, with an income threshold of $200,000 for single filers.
• New York State adds 3.9% to 10.9%: There are nine brackets in the 2026 rate schedule, with the highest rate applying above $25 million. New York's adoption of the IRS property treatment is confirmed in a 2014 state tax memorandum.
• New York City adds 3.078% to 3.876%: Residents across the five boroughs pay city income tax on the same gain. For single filers, the top rate starts at $50,000 of taxable income. Yonkers instead charges residents a surcharge equal to 16.75% of their state tax.
• A worked example: For a single Brooklyn filer with about $150,000 in taxable income, a short-term gain faces roughly 33.8% in combined tax. That consists of 24% federal, 5.9% state and 3.876% city tax, or about $3,380 on a $10,000 gain. Holding for more than a year reduces the cost to about $2,480 because the federal rate falls.
• Buying crypto is not a taxable sale: Coin purchases carry no New York sales tax. Spending crypto on goods is treated as barter, with sales tax due on the dollar value of the goods and a gain or loss realized on the crypto.
• Exchanges now report to the IRS: Platforms report sale proceeds from January 1, 2025 on Form 1099-DA. They also report purchase costs for coins bought from January 1, 2026 and kept on the platform.

Mayor Zohran Mamdani's proposed 2% New York City surcharge on incomes above $1 million was left out of this year's state budget. A separate proposal to tax crypto transactions at 0.2% remains in committee.

Crypto is not yet subject to the wash sale rule, which prevents investors from claiming a loss when they repurchase the same asset within 30 days. Legislation extending the rule to crypto cleared the House Ways and Means Committee on September 16, 2026, but has not become law.

Cryptocurrency Adoption in New York

New York plays a greater role in institutional crypto than in the retail market.

• A deep licensed sector: Our October 2026 count of the NYDFS register found 39 entities, comprising 26 BitLicense holders and 13 limited purpose trust companies.
• Funds built in Manhattan: New York-headquartered BlackRock runs the iShares Bitcoin Trust, which held $66.28 billion on October 9, 2026. Our Bitcoin ETF tracker records the money entering these funds each day.
• Firms moving to federal charters: Paxos replaced its New York trust charter with a national charter in December 2025. Fidelity's crypto arm also now operates as a national trust bank and says it serves all 50 states.
• Heavy fraud losses: New York accounted for 8,088 crypto complaints and $593 million in losses in the FBI's 2025 internet crime report, placing it fourth nationally.
• A cooler City Hall: On January 1, 2026, Mayor Mamdani's first executive order revoked his predecessor's recent orders. Among them was the October 2025 order establishing a city digital assets office.

The United States ranked second behind Brazil in the Chainalysis adoption index, published September 23, 2026. It led the world in both money moving through crypto services and balances held. Our crypto adoption statistics provide global comparisons.

How to Buy Bitcoin in New York

For most residents, the cheapest dependable approach is a free ACH deposit followed by a limit order on Coinbase Advanced. Before registering, have your Social Security number and a driver's license or passport ready.

1. Open a Coinbase account: Sign up with Coinbase under your legal name and New York address. Available coins and features depend on the state shown on your ID.
2. Verify your identity: Upload your ID and a selfie to complete KYC, or "know your customer", verification. Delays most often occur when a name or address does not match bank records.
3. Link your bank and deposit dollars: Connect a checking account in your own name, then deposit through ACH. You can trade the funds immediately, but coin withdrawals require a wait of three to five business days.
4. Place a limit order on BTC-USD: Check the live market on our Bitcoin price page, then open Advanced and select BTC-USD. Enter the maximum price you are willing to pay. Orders that wait on the book incur the 0.50% maker fee.
5. Move long-term holdings to your own wallet: After the hold clears, send a small test transfer to a wallet whose keys you control before moving the remaining coins. Compare hardware devices in our best crypto wallets guide.

When cashing out, sell on the same market and withdraw through ACH to the bank account used for your deposit. Save your transaction history annually, as Form 1099-DA may omit the purchase cost of coins acquired before 2026. For transfer instructions at other banks, see our Bank of America and Capital One guides.

Final Thoughts

Coinbase takes first place in New York with both state authorizations, approved staking and the lowest entry-level order book fees among the six platforms. Gemini provides trust company supervision but charges more to trade. Investors already holding stocks at Robinhood may prefer its app, while Strike offers the cheapest scheduled Bitcoin purchases. eToro brings crypto into a brokerage account without external wallet withdrawals. PayPal is easy to use but expensive.

Access expanded over the past year as staking returned and two consumer platforms launched. The regulator is also moving its stablecoin rules into law ahead of the federal deadline. New Yorkers still face shorter coin lists, however, and long-term gains remain fully subject to state and city taxes.

Test a platform with a small deposit and withdrawal before committing more money, and retain dated purchase records. Our rankings for the wider United States and Canada cover neighboring markets.

Our Methodology

Our assessment reflects the services available to a verified New York resident in October 2026.

• Trust score: Ratings out of 5 weigh New York authorization, custody arrangements and financial transparency. Enforcement actions, service outages and data breaches reduce a platform's score.
• License verification: We matched the contracting company in each user agreement to the NYDFS register and excluded platforms that reject New York addresses.
• New York coin list: Counts include only assets accessible through New York accounts. Where available, we used the platform's state availability page.
• Dollar funding: ACH, wire and card deposits were compared by cost and minimum amount, along with any hold before purchased coins could be withdrawn.
• Total cost: Calculations used a $1,000 Bitcoin purchase and combined commissions with disclosed spreads and withdrawal charges.
• Features cleared for the state: We recorded staking, wallet withdrawals, lending and derivatives only when the platform confirmed access for New Yorkers.

We consulted NYDFS guidance and press releases, state and federal tax publications, and platform fee schedules and help centers. Our editorial methodology explains the full review process.