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Legitimate Cryptocurrency Exchanges - Updated List

In addition, if you do not choose to utilize the built-in wallet that comes with your exchange (if this feature is available), you will need to create an external legitimate cryptocurrency exchanges wallet in order to keep your assets safe manner.

Camilo Wood
Feb 09, 20238 Shares484 Views
Understanding cryptocurrencies may be difficult on its own, and if you're new to crypto trading, choosing the correct platform to buy and sell popular commodities like bitcoin, Ethereum, and dogecoin can be a task in and of itself.
Understanding cryptocurrencies can be difficult. In addition, if you do not choose to utilize the built-in wallet that comes with your exchange (if this feature is available), you will need to create an external legitimate cryptocurrency exchangeswallet in order to keep your assets safe manner.
The majority of cryptocurrency exchanges also include staking incentives (rewards for holding a cryptocurrency asset for a certain amount of time), margin trading, and institutional services. Additionally, you will discover that many sites provide crypto-backed loans and payment advantages (for instance, the Coinbase debit card provides customers with up to 4% back on purchases made with the card).

Best Legitimate Cryptocurrency Exchanges

The following cryptocurrency exchanges provide the highest level of safety, lowest costs, and most trading pairs for traders in the United States.

Coinbase

The most well-known and successful cryptocurrency exchange established in the United States, Coinbase provides a very user-friendly interface and trading environment. Coinbase, a San Francisco-based company founded in 2014, is a fantastic option for both novice traders and seasoned investors.
Users of Coinbase have the option of switching between a straightforward bitcoin brokerage interface with straightforward trading controls and a feature-rich Coinbase Pro interface that is suitable for more complicated trading needs. The Coinbase platform has strong security protections and may be used via a web interface or a specialized mobile app.
Importantly, Coinbase has a great track record of security and has never had a significant bitcoin breach. Coinbase aggressively discourages users from transferring cryptocurrencies to known scam addresses in addition to safeguarding user assets, giving newbie traders an additional measure of security.
Money maintained on Coinbase is FDIC insured, meaning deposits of fiat money made by US citizens on the Coinbase platform are covered up to a limit of $250,000. When validating an account with Coinbase, US citizens must also provide a selfie and a valid government-issued ID.
US citizens are permitted to trade an unlimited amount of bitcoin on Coinbase every day, although withdrawals are typically capped at $25,000. With taker costs ranging from 0.05% to 0.25% and maker fees ranging from 0% to 0.15%, Coinbase does not currently provide the lowest affordable fees on the market. However, the excellent degree of security and customer service outweighs the relatively typical rates.

Binance US

One of the most well-known and widely-used cryptocurrency exchanges in the world, Binance, has a specific version that is exclusively available in the United States. The San Francisco-based Binance US platform, like Coinbase, was established in order to meet unique US regulatory requirements for cryptocurrency exchanges.
In September 2019, the Binance US platform launched, and it now accounts for around 15% of all traffic on the site worldwide. The number of crypto assets that are available differs significantly between Binance US and the global Binance exchange platform because Binance US filters crypto assets based on both quantitative and legal standards for exchange operation in the United States, which limits the total number of assets that can be traded on Binance US.
The Binance US remains mostly unaltered, which makes it perfect for professional traders and crypto investors wanting more sophisticated trading capabilities, despite the relatively small variety of cryptocurrency assets offered on Binance US. It's crucial to remember, however, that US traders domiciled in New York cannot now use Binance US. Similar to Coinbase, Binance US requires a government-issued photo ID and a selfie to validate an account.
Binance has a progressive deposit and withdrawal limit mechanism for US citizens but does not enforce tight trading limitations. Users of Binance in the US may deposit or withdraw up to $5,000 USD, with additional deposits or withdrawals increasing this limit to up to $30,000 and more. Binance provides 0.1% spot trading commissions and 0.5% fast buy/sell commissions. The 30-day trading volume is used to calculate trading costs, with larger volume traders paying less overall.

Bisq

Formerly known as Bitsquare, Bisq delivers to a decentralized setting the clear, user-friendly interface and the extensive currency support of centralized exchanges. The project is sponsored by personal savings and contributions from the platform's user base. The platform is created using open-source software, making its design accessible to the public.
Bisq does not need users to provide personal information in order to trade on the site, nor does it require a third party to carry out bitcoin transactions. It's a great substitute for Bitcoin supporters seeking access to a broad range of other currencies, including Cardano, XRP, and Dogecoin. In reality, supporting so many digital currencies including fiat money on decentralized exchanges is unusual.
Furthermore, the security features of the platform, such as multi-signature and a security deposit system, improve the inherent security and privacy of decentralized exchanges by making sure that both parties behave honestly and maintain full control over their assets during the trading process.

Gemini

Based in New York City, Gemini is one of the few US-based exchanges that comply entirely with NY state law. Gemini, a highly regulated cryptocurrency trading company founded by the Winklevoss brothers in 2014, collaborates closely with authorities to maintain compliance, which may make the Gemini verification process challenging.
Because all USD deposits to Gemini are FDIC guaranteed, Gemini is a desirable choice for institutional traders and large-scale cryptocurrency dealers. Gemini is the safest choice for cryptocurrency dealers in the US since it presently has more than 1% of the total global Bitcoin volume and is governed by New York banking law.

Kraken

One of the oldest cryptocurrency exchanges to serve the United States, Kraken provides a very simple method of exchanging cryptocurrencies. Kraken, in contrast to Coinbase, focuses largely on professional cryptocurrency traders and provides sophisticated trading services including margin trading.
The Kraken platform may only be accessible online, although a mobile version is now being tested in Germany, Spain, and the Netherlands. All US states, with the exception of Washington State and New York, allow access to Kraken.
All of the trading options offered to foreign traders by Kraken are also made accessible to US traders, with the exception of EUR trading pairs and deposits for New Hampshire and Texas residents.
Ripple, Etehereum and Bitcoin and Micro Sdhc Card
Ripple, Etehereum and Bitcoin and Micro Sdhc Card

Crypto.com

Crypto.com uses a variety of security measures to protect customers' crypto assets on its trading platform, including frequent software peer-review, offline cold storage for all crypto, and a regulated custodial bank account for fiat money. Along with a password, biometrics, email, phone, and authenticator verification, it also employs multi-factor identification.
Additionally, its platform has successfully finished a number of penetration tests, which mimic cyberattacks and are used to gauge system security, as well as provided evidence of its financial stability over time. Not all of Crypto.com's appeal is related to security. Out of all the businesses on your list, the exchange has the widest assortment of currencies with over 250 coins.
Its non-custodial DeFi wallet, which enables users to move cryptocurrency at their own pace and earn interest on coins, margin trading, prepaid visa cards to spend cryptocurrency, and crypto loans are further interesting features.

Robinhood

Another site for commission-free investing that targets novice and casual users is Robinhood. Seven cryptocurrencies may be traded by users in addition to stocks, ETFs, options, and more.
The facilities and functions of a full-service bitcoin exchange are absent from Robinhood. Additionally, it has been under fire from users and authorities for its shady business tactics (only this year, the app was fined $70 million by FINRA for deceiving customers) and participation in the 2021 GameStop/meme-stock frenzy).

CEX.io

With the recent acquisition of money transmitter licenses in nine jurisdictions throughout the US in 2019, CEX.io is a relatively recent addition to the list of cryptocurrency exchanges that are compatible with US regulations. Due to the platform's new license, it is now possible to use it in more states than only those where money transmitter licensing is not necessary.
Residents of the US may now use the CEX.io exchange in 28 states. When it was first established in London in 2014, CEX.io offered cloud mining services, but soon changed its focus to become a cryptocurrency exchange. US traders may choose from a wide variety of cryptocurrencies on CEX.io, including popular ones like Bitcoin, Ethereum, and Ripple as well as lesser-known ones such as Matic, Ontology, and Cosmos.
Similar to Coinbase, CEX.io provides two distinct trading platforms geared for both novice and experienced traders. The brokerage service offered by CEX.io makes it easier for occasional or casual investors to purchase cryptocurrencies, while expert traders profit from a powerful, feature-rich trading interface.

Cash. App

If you merely want to try out Bitcoin or need another platform for speedy bitcoin transfers, the Cash. The app is a perfect choice. Cash. The app gives you the option to maintain custody of your currencies, in contrast to other non-dedicated cryptocurrency exchanges. This alone justifies giving it a go.
Cash. the app didn't make the criteria since it isn't a specialist cryptocurrency exchange and only offers minimal bitcoin services. Although it could be a simple way for people who are interested in cryptocurrencies to get started, we are unable to suggest it as a long-term trading exchange.

EToro

Users may trade a range of assets on the multi-asset investing site eToro, including 30 well-known cryptocurrencies. The platform's social trading capabilities, which let users create a personalized news feed and follow, copy, and communicate with their preferred traders, are its key selling point.
The reason eToro didn't make the criteria is that it isn't a full-service cryptocurrency exchange. This indicates that it lacks fundamental tools and services, such as the ability to immediately deposit, trade, or exchange cryptocurrency on the platform, as well as to withdraw your cryptocurrency.

Top 5 BEST Crypto Trading Platforms!! (Crypto Exchanges)

Signing Up For A Cryptocurrency Exchange Account

The process of opening an account on a cryptocurrency exchange resembles that of opening an online brokerage account. To start the account creation process, you normally need to submit your email address and password. After that, you'll get an email asking you to verify that you indeed possess the email address you gave.
You will often be required to undergo an identity verification step once you confirm your email address. Typically, this entails giving personal information, a copy of an official picture ID, and evidence of residence. The majority of cryptocurrency exchanges need a digital copy of your passport or driver's license in addition to your complete name, home address, and mobile number as well as documentation of your residence, such as a utility bill or bank statement.
Additionally, some exchanges could demand an additional step to confirm the ID you're supplying is indeed yours. Usually, to do this, you need to use a camera or phone to take a picture of yourself holding your ID and send it to the exchange.
Depending on the exchange and the needed degree of verification, user verification might take anywhere from a few minutes to several days. Exchanges often provide several degrees of verification, with lower tiers needing fewer data.
However, lower verification levels often have lower deposit and withdrawal thresholds. You may fund your trading account using the various financing alternatives after completing the verification procedure and begin buying and selling cryptocurrencies.

People Also Ask

Which Is The Safest Crypto Exchange?

Due to its strong security procedures, insurance of customer cash, and SOC 2 certification, Gemini is the cryptocurrency exchange with the finest security.

What Is The Most Trusted Cryptocurrency Platform?

Because you can invest directly with USD, Coinbase is by far the most well-known and finest cryptocurrency exchange.

Is Binance Legit?

With a ton of cutting-edge security measures, Binance is a relatively secure cryptocurrency exchange. However, no cryptocurrency exchange is 100% safe.

Conclusion

There are several legitimate cryptocurrency exchanges to choose from, some with a more established history than others. Investors may compare exchanges by examining their costs, cryptocurrency variety, sophisticated trading features, and customer care capabilities.
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