Investors should be able to evaluate cryptocurrency exchanges as thoroughly as expert organizations offering financial services. You can’t trust any exchange you see on a Google banner, just like you can’t put all your funds in the first bank you come across.
It can be difficult for new market participants to choose cryptocurrency exchanges due to their wide variety. There are more than one hundred platforms that offer services for trading digital coins. Still, not everyone has the right to serve American citizens. We are going to talk about the best crypto exchanges in the USA.
1. Binance US
This site was founded in 2019. This is the American division of the Hong Kong Exchange of the same name. Binance US operates in the United States in compliance with all appropriate laws and regulations.
The exchange has a high-reliability rating according to the analytical resource Coinmarketcap. As of March 2021, 54 cryptocurrencies are traded on the exchange, the most active trading pair is BTC/USD. A total of 108 trading pairs is available on the site. The daily trade exceeds $550 million.
2. CoinBase
The American crypto exchange began to work in May 2014. Deals with a total worth of $3.7 billion are made on the site every day, more than 900 thousand unique users visit Coinbase every month.
There are two versions of the exchange. The first, CoinBase, is meant to serve retail consumers. The second — CoinBase Pro — is supposed for professional traders and possesses advanced functionality.
It is important to note a special tracking system among other features. It tracks the way users spend their cryptocurrency (mainly BTC). If customers have used bitcoins to buy goods on the darknet or other doubtful activities, CoinBase may close or freeze the account. Besides, Coinbase stores the vast majority of cryptocurrencies in cold wallets, which guarantees reliable protection of the coin base.
It is the only cryptocurrency exchange that wants to go public. It is estimated that the total value of Coinbase is more than $100 billion.
3. Godex
This is a decentralized platform that American citizens can use without any problems. There is no registration and verification of users on the exchange. This means that cryptocurrency trading is completely anonymous. It is worth falling on the list of the best crypto trading platform.
The developers were bothered about the simplicity of the interface so that people of any skill level can handle it. Godex does not charge additional commissions or hidden fees.
Here you can convert cryptocurrencies at the best rate on the market. The fact is that the platform algorithm carries out an analysis of the market situation and offers the user the best price at the moment the order is formed. Using the Godex platform, you have an edge over other market participants.
4. Kraken
The American crypto exchange Kraken was launched in July 2011. Jesse Powell, one of the first Bitcoin enthusiasts, was behind its creation. He created an exchange as an alternative to the Mt. Gox. Now the daily trading volume has reached $2 billion, and the average number of users is more than 2.2 million per month.
Kraken boasts an impeccable reputation for crypto security. Besides, this site was the first to propose the use of a full audit system (Proof-of-Reserves). Its essence is that the platform cryptographically checks the coincidence of the balances of the exchange users with the funds on the Kraken wallets.
Now the exchange is the largest platform for trading Bitcoin for fiat. The exchange divides user accounts into 4 levels — zero, basic, intermediate, and Pro. The bulk of client coins are stored in cold crypto wallets.
5. EXX
The EXX platform was created in October 2017 and immediately demonstrated the commitment to customers from East Asia (mainly South Korea). Although this exchange was not focused on the US market, American citizens can still use it quite easily.
The daily trading turnover exceeds $200 million. There are no restrictions on the access of users from other countries. Everyone can register and start trading 39 cryptocurrency pairs.
The main product of the EXX Group is the crypto exchange itself. Users have access to a cloud mining platform with three options for mining coins – for beginners, professionals, and for mining large volumes. Users from China can also take advantage of the online shopping apps at ExxMall.
The exchange supports 4 languages — English, Chinese, Japanese and Korean. EXX has a large number of strategic partners and several media partners. The Exchange alliance aims to encourage members to be active and enjoy the benefits — great liquidity, discounts, the help of a professional team, and the promotion of the globalization of this alliance.
Conclusion
There are a huge number of cryptocurrency exchanges on the market. Only some of them have the right to work with American users. If you are a US resident, study this issue carefully. However, if you want to trade digital assets and remain incognito, we suggest you pay attention to the Godex.io platform.
Salman is a prolific environmental writer, and has authored more than 500 articles in reputed journals, magazines and websites. He is proactively engaged in creating mass awareness on renewable energy, waste management, sustainability and conservation all over the world.
Salman can be reached on salman@cleantechloops.com
- Digital Detox: How a Screen-Free Hour Can Transform Your Day - November 20, 2024
- How to Get the Most Out of Your Signal Booster? - November 20, 2024
- 4 Tips to Finding a Home in Sea Pines - November 19, 2024