The best crypto exchanges for U.S. crypto trading offer three essential benefits. The first and most important is robust security featuring two-factor authentication, cold storage, and integrated safe wallets. Second, they boast a user-friendly website and platform, and third, they provide access to trading a variety of cryptocurrencies, not just Bitcoin and Ethereum. These exchanges also need to monitor any crypto scams and make an effort to warn users of potential pump-and-dump scams, Crypto Ponzi schemes, or nefarious activities. If you’re looking to invest in crypto and need a platform, check these out.
Part of cryptocurrency’s popularity is due to its volatility; dramatic swings allow traders to make money on the price moves. At the start of 2017, the price of Bitcoin broke through the $1,000 barrier. By the end of the year, the digital currency had reached nearly $20,000. Almost a year later, Bitcoin was hovering around merely $3,200. The cryptocurrency sprung back to life in 2019, continuing its rally in 2020 with a high of more than $10,000. Since then, it has continued to rise significantly, ultimately crossing the $60,000 level in early 2021 before plummeting once again. It’s this kind of price movement that attracts traders to ride the waves to profit. While some traders prefer to own the currency directly, others turn to the futures market. Futures may be an even more attractive way to play the volatility of digital currencies like Bitcoin because they allow traders to use leverage to magnify their gains (which, unfortunately, also magnify losses).
Most crypto exchanges offer features like staking rewards (for holding a crypto asset for a set period of time), margin trading, crypto trading tools, and more. The professionals urge that once you buy an asset to keep it on your own digital wallet.
Top Cryptocurrency Exchanges to Buy & Sell:
1) Coinbase is building the crypto economy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. They started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, they offer a trusted and easy-to-use platform for accessing the broader crypto economy.
2) PrimeXBT was founded in 2018 and has grown exponentially, currently serving clients in more than 150 countries. They provide customers with access to top-tier liquidity and a wide range of trading tools, while maintaining security as well as liquidity, therefore enabling a safe and efficient trading environment for everyone.
3) Binance is a not-for-profit exchange with a mission of increasing the freedom of money globally. They are based out of Hong Kong and have one of, if not the largest, user bases in this space. They have had some major breaches, but they are trustworthy and recommended by some of the biggest crypto evangelists online. That said, their service is not the most user-friendly in my opinion, as it is more challenging than necessary to be verified, and their customer service has not been very quality for me.
4) Cex.io is a UK-based company that has an open global financial system goal. They claim to be well-organized, with 4 million users and zero funds lost over the years.
5) Changelly was created in 2015 and has since maintained their goal of mass adoption. They offer education, banking, credit cards, and Applepay, and incentivize users with a 50% payout to affiliates.
6) Coinsmart is a Canadian crypto exchange. They claim to have an enterprise level security system in place. They also pride themselves on advanced features and dedicated representatives. They also offer same day funding.
7) Bitcoin IRA – this is a “no” from me and many investors. I don’t think that investing in this exchange is a good idea until we know what crypto will become. For retirement accounts, I would recommend a traditional or Roth IRA filled with index funds you feel comfortable with, or companies who are quality businesses. Cryptocurrencies still have very high fees, they are volatile, and we don’t know what’s going to happen with them in the next thirty years. Don’t invest anything that you aren’t willing to lose in crypto.
8) Coinmama – this Irish company has over two million users since 2013. They offer Bitcoin and seven other currencies.
9) Kraken – This US based company offers more than just the ability to buy and sell, they provide services to help investors at each level of their crypto journey. From the little research I did I haven’t seen that they have been hacked in the past. Forbes give a comprehensive review on this site.
I’ve been working with cyber security for much of my career, and while I’m not a specialist, I do understand how hacks happen and what is needed to protect companies and individuals from them. With Coinbase joining NASDAQ (COIN) as a publicly traded company, crypto has finally truly become mainstream. Binance has been hacked, with over 40 million in currencies stolen. The others may still be small enough to be outside of mainstream attention, so maybe those are better options, but we don’t know what their security policies are yet.
The team who writes with me chose to detail the above exchanges based on what they say about their security. Most crypto influencers are paid to promote these exchanges, so it’s hard to know which one to choose. Whichever you decide to use, please make sure to be careful, you can put your coins on your own ledger. I don’t make any money off anything to do with crypto on this website. There are no affiliate links on this post. Do your own research to consider which option is best for you. Subscribe for more investing posts. Have a lovely day.
Disclaimer
I want to make it unequivocally clear that I do not promote any cryptocurrency, nor do I endorse any crypto investments. This website is dedicated to providing information and insights into the world of cryptocurrencies to help you better understand what crypto is.
If you ever find yourself in a position where you need to explain your decision not to invest in cryptocurrencies to friends or acquaintances, you can use the content on this site as a guide to discourage people from falling victim to scams or making hasty financial decisions. My ultimate goal is to empower individuals with knowledge and awareness so that fewer people become financial victims.
Life is already challenging with its inherent obstacles; we don’t need the added burden of unscrupulous individuals looking to exploit our hard-earned money. Stay vigilant, stay informed, and make financial decisions with caution. Your financial well-being is of paramount importance, and it is my sincere hope that the information here can assist you in making prudent choices.
