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For investors looking to buy Cryptocurrencies like Bitcoin, Ethereum and Solana in the USA, you will need to find an SEC-licensed and regulated crypto broker to get started. These platforms will enable you to buy Crypto, and even stake assets to earn interest on your deposits.

To summarise, our research team has listed the best 5 crypto exchanges in the USA.  The rankings above are based on 5 key criteria including Features, Fees, Available Assets, Security and Staking features.

Best Crypto Exchanges for 2022

  1. eToro - Best Overall
  2. Coinbase - Best for Complete Beginners
  3. FTX - Best for Advanced Traders
  4. DYDX - Best Decentralized Exchange (DEX)
  5. Robinhood Crypto - Best for Crypto Options

Table of Contents

Best Crypto Trading and Investing Platforms

There are a number of different exchanges to choose from if you're based in the US, and it can be tough to know which one is right for you. This guide will help you compare the top crypto trading platforms to help you decide which is the best to get started.

eToro US -  Best Trading Platform USA

eToro is the best overall cryptocurrency exchange for investors in the United States because it offers Crypto, Stocks, ETFs, Options, Commodities and other asset classes all in one platform. The eToro exchange currently has over 70 cryptocurrencies and over 7,000 other assets listed on their online broker platform that is available to US investors.

One other advantage of eToro is that it charges zero fees to trade cryptocurrencies and stocks. That said, they do charge a spread fee on all trades. The spread is the difference between the buy and sell price of an asset. The average spread for Bitcoin is 0.75%.

Their company is headquartered in Israel and has offices in the UK, US, Australia, and Cyprus. The company was founded in 2007 by brothers Yoni and Ronen Assia. eToro offers a web-based platform as well as mobile apps for iOS and Android devices. The platform is easy to use and navigate, even for those who are new to online trading. One of the standout features of eToro is its CopyTrader tool, which allows users to mirror the portfolios of other successful traders on the platform.

Their platform also has a crypto wallet service, which allows users to store their cryptocurrencies offline in a secure location. eToro is one of the few platforms that allow US users to trade cryptocurrencies, and it offers a variety of features that make it an attractive option for those looking to get started in the world of crypto trading.

Key Features

  • Best overall exchange to trade Crypto and Crypto Stocks.
  • Lowest fee exchange at 0 commissions.
  • Buy and sell over 7,000 different assets.
  • Deposit USD¬†with Bank Transfer, Debit Card or Credit Card.
  • SEC-Licensed and globally recognised as a Tier 1 Exchange.

Pros

  • Trade a variety of markets
  • Zero fees on trading cryptocurrencies
  • Sleek and easy to use app
  • Cheap fiat deposits

Cons

  • Spreads can get wide on low market cap assets.
Visit eToro Exchange

Coinbase US - Best for Beginners

Coinbase is the largest cryptocurrency exchange around the world with the best web app and iOS/Android application to buy Bitcoin and other cryptocurrencies with. Based in San Francisco, Coinbase have had a long standing reputation among the crypto community due to their high regulatory standards.

Coinbase was founded in June 2012 by Brian Armstrong and Fred Ehrsam. Coinbase began as a platform for trading Bitcoin only but later added support for more cryptocurrencies. As of July 2022, Coinbase had 14 million registered users with over $20 billion worth of digital currency exchanged.

The platform has a variable fee structure depending on the user's country and payment method. For U.S. customers, Coinbase charges a 1.49% fee for bank account transfers and a 3.99% fee for credit/debit card transactions. International customers may pay a higher fee depending on their location and payment method used. Coinbase also has a separate platform called Coinbase Pro which offers lower fees for certain types of trades but is only available to select countries.  

Coinbase employs industry best practices for security, including 2-factor authentication and a host of other security features. They also offer insurance for digital currency held on their platform.

Key Features

  • Stake over 100 different cryptocurrencies to earn commissions.
  • Coinbase is a publicly listed company and tightly regulated.
  • Coinbase Pro for advanced users and institutional investors.
  • Institutional staking solution tied to Blackrock Investments.
  • SEC-Licensed and globally recognised as a Tier 1 Exchange.

Pros

  • Easy to use iOS/Android App
  • Cryptocurrency Staking Features
  • Safe and regulated platform
  • Listed on NASDAQ stock exchange

Cons

  • Expensive fees for Debit Card purchases
Visit Coinbase

FTX USA - Best for Institutional Investors

FTX is a cryptocurrency derivatives exchange built by traders, for traders. They offer a wide range of products including futures, spot and leveraged tokens.FTX US is a new entrant to the US market, offering trading in both digital and fiat currencies. FTX US is registered with FinCEN as a Money Services Business.

The FTX platform was founded in 2019 by Sam Bankman-Fried, the CEO of Alameda Research, one of the largest cryptocurrency trading firms. FTX is headquartered in Miami, USA. The platform offers a wide range of products including futures, spot and leveraged tokens. Their derivatives products are intuitive to use and support USD & Coin Margined collateral.

FTX US is a new entrant to the US market, offering trading in both digital and fiat currencies. FTX's derivatives products are innovative and their exchange platform is easy to use. Their customer service is excellent and they offer 24/7 live support. FTX is a great choice for experienced traders and investors.

Key Features

  • Trade over 150 different cryptocurrency derivatives contracts.
  • Get access to up to 20x leverage with futures or options on their platform.
  • Cryptocurrency staking for Solana, FTT¬†and other Solana ecosystem tokens.
  • Cross-chain wallets supporting Ethereum,¬†Avalanche, Solana and Arbitrum.
  • FTX¬†US¬†is a regulated entity in the United States, making it a secure platform.

Pros

  • Over 200 cryptocurrencies to trade
  • Perpetual futures contracts and 20x leverage
  • Trade stocks, options and volatility contracts
  • Cryptocurrency staking available

Cons

  • Hard to navigate for beginner crypto traders
Visit FTX.US

DYDX - Best Decentralized Crypto Exchange

DYDX is a decentralized cryptocurrency exchange that was launched in 2018. The exchange is based on the 0x protocol and is non-custodial, meaning that users retain control of their own funds. DYDX is currently deployed on StarkWare and supports margin trading and derivatives trading for a variety of digital assets, including BTC, ETH, SOL, AVAX, FTM and many others.

One of the key features of DYDX is that it offers low fees for trades. There is no maker fee, and the taker fee is only 0.1%. This makes DYDX one of the most competitively priced exchanges in the market. Another key feature is the ability to margin trade with up to 4x leverage. This allows users to magnify their gains, but also their losses, so it is important to trade carefully.

DYDX is a relatively new exchange and as such, it has a limited selection of assets available for trading. However, the team behind the exchange is constantly working to add new assets and expand its offerings. Overall, DYDX is a promising exchange with low fees, margin trading and a growing selection of assets.

Key Features

  • Decentralized and does not require KYC. Sign in with MetaMask Wallet.
  • Get access to up to 20x leverage on crypto pairs with crypto collateral.
  • Stake DYDX¬†tokens and earn protocol fees paid out in a $DYDX¬†dividend.
  • Earn a rebate of 10% on your Maker Orders paid out in DYDX¬†tokens

Pros

  • Completely decentralized
  • Only 0.1%¬†fees and no gas fees
  • DYDX¬†token rewards program from maker orders
  • Coinbase Ventures, Andreessen Horowitz and others invested

Cons

  • You need to use a VPN¬†in the USA
Visit DYDX

Robinhood - Best for Crypto Options

Founded in 2013, Robinhood is a US-based financial services company that offers commission-free trading of stocks, options, and cryptocurrency. In February 2018, Robinhood added support for cryptocurrency trading on their platform, becoming one of the first mainstream brokerages to do so.

Cryptocurrencies available for trading via spot or options on Robinhood include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Dogecoin (DOGE), Avalanche (AVAX), Shiba Inu (SHIB) and Stellar (XLM). Robinhood currently only supports spot trading and does not offer margin or futures trading. Robinhood does not charge any trading fees for cryptocurrency spot trading. However, they do charge a small spread (the difference between the bid and ask prices). For example, at the time of writing, the spread on BTC was 0.01%.

One key feature of Robinhood is their "Instant Deposit" feature, which allows users to deposit funds into their account instantly using a debit card. This is a useful feature for those who want to buy cryptocurrency quickly, as there can often be a wait of several days when using a bank transfer.

Another key feature is Robinhood's "Gold Bug" ranking system. This ranks the top 30 cryptos on the platform by overall market capitalization and gives users an easy way to track the performance of different digital assets.

Overall, Robinhood is a good option for those looking for a commission-free way to trade cryptocurrency

Key Features

  • Instant¬†USD¬†deposits with direct debit or bank deposits
  • Zero commissions and narrow spreads on spot crypto trading
  • Offers Cryptocurrency options and options for stocks
  • Slick and easy to use interface for iOS and Android applications
  • Over 20 million users and one of the most popular trading apps

Pros

  • Intuitive app for beginners
  • Zero trading fees and tight spreads
  • Trade stocks, ETFs and other assets

Cons

  • Limited selection of cryptocurrencies
  • Lacks crypto wallet support
Visit Robinhood

Cryptocurrency Regulation in the USA

The United States has a long and complicated history with cryptocurrency regulation. In recent years, the country has taken a more open and supportive stance towards digital assets and blockchain technology. This has led to the development of thriving crypto industry in the US, with exchanges playing a key role in this ecosystem.

The U.S. Securities and Exchange Commission (SEC) has taken a cautious approach to regulating cryptocurrency exchanges. The country has not yet put in place any comprehensive regulatory framework for these platforms. Instead, it has taken a piecemeal approach, issuing guidance and rules on a case-by-case basis.

Some important members of congress like Nancy Pelosi have been vocal about their concerns with Crypto, so you will need to pay careful attention to how it plays out in the coming years.

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How to Sign up with a Crypto Exchange

As the popularity of cryptocurrencies continues to grow, more and more people are looking to invest in them. If you're based in the USA and want to get involved, you'll need to sign up for a crypto exchange.

Get started in minutes with this simple guide:

  1. Choose an exchange: There are many exchanges available in the USA, so make sure to do your research and choose one that is reputable and suits your needs. Some popular exchanges include eToro, FTX, or Coinbase.
  2. Create an account: Once you have chosen an exchange, you will need to create an account with them. This usually involves providing some personal information (such as your name and email address) and setting up a username and password.
  3. Verify your identity: Most exchanges will require you to verify your identity before you can start trading. This usually involves uploading a photo ID and sometimes also providing additional information such as your Social Security number.
  4. Deposit funds: Once you have verified your identity, you will need to deposit funds into your account in order to start trading. You can do this using a bank transfer, credit/debit card, or sometimes even PayPal.‚Äć
  5. Start trading: Once you have deposited funds, you can start buying and selling cryptocurrencies. Make sure to do your research before making any trades, as the prices of cryptocurrencies can be very volatile.
eToro Crypto Exchange
Trading Dashboard and Watchlist on eToro.

What makes a Cryptocurrency Exchange good?

The answer to this question depends on your individual needs and preferences. That said, here are a few things to look for when choosing a cryptocurrency exchange, such as:

  • Variety of coins: Some exchanges only offer a handful of the most popular cryptocurrencies, while others have hundreds to choose from. If you're looking to invest in a less mainstream coin, make sure the exchange you're considering has it listed.‚Äć
  • Fiat currencies: Not all exchanges allow you to buy cryptocurrencies with fiat (i.e. USD). If this is important to you, check that the exchange offers this feature.‚Äć
  • Security: When handling large sums of money, security is of the utmost importance. Make sure the exchange you choose has robust security measures in place, such as 2-factor authentication and safe storage of user funds (i.e. in cold storage).
  • ‚ÄćCustomer support: In the event that something goes wrong, it's important to have someone to turn to for help. Look for an exchange with responsive customer support that can offer assistance when you need it.‚Äć
  • Fees: Some exchanges charge higher fees than others. If cost is a factor in your decision, make sure to compare the fees charged by different exchanges before making a final choice.

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Growth of Crypto Exchanges in the USA

The United States (USA) is the most progressive country when it comes to the development of infrastructure around Bitcoin and digital assets more broadly. Since the booming of the industry in 2017, there are now many safe and regulated cryptocurrency exchanges in the USA for customers to select from.

Regulators and Digital Asset Service providers have continued to work well together up and in 2022 have a very strong framework for safe and continued growth of the space.

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