Summary: In the United States, buying Bitcoin and other cryptocurrencies is safe and easy with exchanges that comply with FinCEN regulations. American investors have access to multiple payment options, including ACH bank transfers, credit cards, debit cards and more to deposit US Dollars (USD) and participate in buying, staking, and trading crypto assets within a regulated framework.
Our experts have assessed and compiled a list of the top 5 trading platforms in the United States to guide you on your cryptocurrency adventure. Here are the most trusted options available to you:
Best Regulated Exchanges USA
In an effort to identify the best US regulated cryptocurrency exchanges, we've thoroughly reviewed over 20 different trading platforms that hold a Money Services Business license from FinCEN. Our examination was all-encompassing, considering important aspects such as compliance with US regulations, the variety of cryptocurrencies offered, ease of use, availability of USD deposit options, fee structures, and other key features. After this rigorous evaluation, we've compiled a list of the top five exchanges that are ideally suited for investors based in the USA.
Leading the charge in the USA's cryptocurrency market, Kraken has established itself as the top crypto exchange, exclusively serving the American audience with an astonishing $250 billion in quarterly trading volume. With a user-centric focus, Kraken's platform offers more than 250 cryptocurrencies, tailored to meet the needs of the U.S. market, including popular assets like Bitcoin, Ethereum, Litecoin, and many emerging tokens.
Kraken's dedication to a flawless user experience shines through its top-rated mobile apps, accessible on both App Store and Google Play. The exchange is also well-regarded for its staking services, allowing US-based clients to earn up to 25% in annual rewards (APY). Moreover, Kraken's professional trading platform, Kraken Pro, caters to the American trading and institutional community, offering low spreads, deep liquidity and high deposit limits.
- Fees: 0.01% Maker Order and 0.02% Taker Orders.
- Supported Assets: 200+ spot markets and 100+ markets available with margin.
- Regulation & Licensing: Regulated by FinCEN in the United States (Founded in 2010).
- USD Deposit Methods: ACH Transfer, Debit Card, Credit Card, FedWire, Plaid, Zelle and more.
Ranking as the second-best cryptocurrency trading platform in the United States, eToro provides an extensive range of top digital assets to its burgeoning client base. Its innovative social trading features, such as Copy Trading and a Practice Account furnished with $100K in virtual funds, set it apart in the highly competitive market. With user-friendly web and mobile interfaces, eToro USA caters to investors of all skill levels, solidifying its position just behind Kraken.
Regulated by FinCEN, eToro USA's commitment to security has earned it a reputation as a reliable and secure platform for cryptocurrency trading among U.S. investors. Its versatile USD deposit options, including ACH, Wire Transfer, and Credit Card, along with competitive and transparent fee structures, further enhance its appeal. Although not leading the market, eToro's low upfront commissions, industry-leading spreads, and focus on user-centric features firmly place it as the second-best platform in America.
- Fees: Deposits & withdrawals are free and crypto trades are subject to a 1% flat fee.
- Supported Assets: 25+ cryptocurrencies.
- Regulation & Licensing: Regulated & Licensed by FinCEN.
- USD Deposit Methods: Bank Transfer, Credit/Debit Card, PayPal & ACH.
Positioned as the third best in the league of top-tier cryptocurrency exchanges in the USA, Uphold serves its extensive customer base with a vast offering of over 250 digital assets through their meticulously FinCEN-regulated platform. Standing distinctively next to eToro and Kraken, Uphold focuses on swift and economical USD deposit options such as Bank Transfer, ACH, Debit Card, and Credit Card.
Uphold's unique reputation in the U.S. market is significantly strengthened by its steadfast dedication to transparency. As one of the rare exchanges with audited proof-of-reserves, they offer real-time data to ensure that customer funds are fully backed on a 1:1 basis. This unparalleled commitment to transparency and security, coupled with the wide array of assets and user-friendly interfaces, firmly establishes Uphold as the third-best crypto exchange in the United States, exemplifying a relentless focus on trustworthiness and customer satisfaction.
- Fees: Free ACH deposits and zero commissions on trades. Spreads are variable and average around 1.5%.
- Supported Assets: 250 cryptocurrencies to buy and stake.
- Regulation & Licensing: Regulated and Licensed in the USA by FinCEN.
- USD Deposit Methods: Wire Transfer, Credit/Debit Card, ACH, Google Pay & Apple Pay.
Despite recent scrutiny from regulatory authorities such as the SEC, Binance.US retains its standing as one of the leading cryptocurrency exchanges in the United States, serving millions of users nationwide. Binance extends a wide array of trading features, including spot, margin, derivatives, options, and futures markets.
Binance.US sets itself apart with its comprehensive offerings beyond mere trading. It provides an extensive selection of staking options, as well as lucrative borrowing and lending services, promising high annual percentage yields (APYs). While public attention has been drawn to the platform's regulatory interactions, Binance.US continues to operate as a secure, FinCEN-regulated, and well-regarded platform, thereby ensuring its place among the top cryptocurrency exchanges in the country.
- Fees: 0.1% spot trading fee and 0.02% maker & 0.04% taker fees for derivatives.
- Supported Assets: 130+ cryptocurrencies.
- Regulation & Licensing: Regulated by FinCEN, but facing legal battles with the Securities and Exchange Commission (SEC).
- USD Deposit Methods: SWIFT Transfers, Credit Card, Debit Card, Banxa & Simplex.
Rounding out our list, Coinbase holds a distinct position as one of the most trusted and regulated cryptocurrency exchanges in the country. It has the distinction of being publicly listed on the NASDAQ, reinforcing its credibility and trustworthiness. Coinbase caters to both novice and experienced investors with features such as a free crypto trading demo account, enabling practice without real market risk. It also provides a crypto card that lets users make real-life purchases with their digital assets. Coinbase supports a broad spectrum of cryptocurrencies, including Bitcoin, Ethereum, Solana, and over 100 more.
Despite its merits, it's worth noting that Coinbase charges higher fees compared to its competitors, with a rate of 1.49% per trade. Nonetheless, its comprehensive offerings, secure platform, and regulatory transparency continue to place it among the top five cryptocurrency exchanges in the United States.
- Fees: 2% fees to deposit and withdraw on Coinbase. 1.49% fee to trade assets.
- Supported Assets: 100+ cryptocurrencies.
- Regulation & Licensing: Licensed and Regulated by the FinCEN.
- USD Deposit Methods: Bank Transfer and Debit Card or Credit Card.
How to Buy Bitcoin and Crypto in the USA
If you're a beginner aiming to invest in digital currencies within the USA, adhere to this comprehensive, step-by-step guide for lawful and secure transactions:
- Select a reliable exchange: Choose a platform that is approve by American regulatory authorities, as emphasized in our guide.
- Sign up: Register using your email, establish a robust password, and fulfill any necessary KYC (Know Your Customer) processes.
- Deposit USD: Top up your account via domestic ACH bank transfers, debit/credit cards, or digital wallets (e.g Venmo or Cash App).
- Buy crypto: Choose the desired cryptocurrency and quantity, then validate the purchase.
- Safeguard your assets: Transfer your digital currencies to a crypto wallet to heighten security.
By following these instructions and choosing a credible exchange, you can securely buy cryptocurrencies in the USA. This is your ultimate guide on how to invest in Bitcoin and other digital currencies in the United States.
Is Buying Crypto Legal in America?
Yes, buying cryptocurrency is legal in the USA. However, there may be certain regulations and laws that vary by state and the use of the cryptocurrency. It is important to research and comply with any applicable laws and regulations before making a purchase. Additionally, taxes may apply to any cryptocurrency transactions.
The regulation of cryptocurrency in the United States is currently handled by a combination of federal and state agencies, including the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and FinCEN. These agencies have jurisdiction over different aspects of the cryptocurrency market, such as securities laws and money transmission regulations.
How are Crypto Exchanges Regulated?
Crypto exchanges in the US are regulated by a patchwork of federal and state laws. The main federal regulator is the Financial Crimes Enforcement Network (FinCEN), which enforces anti-money laundering (AML) and know-your-customer (KYC) regulations. Additionally, the Commodity Futures Trading Commission (CFTC) regulates crypto derivatives trading, and the Securities and Exchange Commission (SEC) regulates crypto assets that are considered securities. State regulators also have their own laws and licensing requirements for crypto exchanges operating within their jurisdiction.
Navigating the fast-paced landscape of cryptocurrency trading in the United States requires an understanding of regulatory compliance, available platforms, and unique features that cater to various investment needs. Our thorough examination of over 20 exchanges, considering critical aspects like regulations, deposit methods, fee structures, and user experience, has led to the identification of the top 5 trading platforms in the USA: Kraken, eToro, Uphold, Binance US, and Coinbase.
These exchanges not only uphold the legalities enforced by agencies like FinCEN, SEC, and CFTC but also prioritize the investors' interests with transparent operations, security, and user-centric services. Whether you're a beginner or an experienced trader, choosing one of these top-rated platforms ensures a safe and rewarding experience in the vibrant and rapidly evolving cryptocurrency market in the United States.