Who Should Make Use Of This Crypto Broker Comparison?
This comparison is aimed at anyone that wants to trade cryptocurrency at a safe, reliable and cost-effect broker site. That includes newcomers to the wonderful world of crypto trading and seasoned traders alike. Beginners are naturally keen to discover the best platform to trade cryptocurrency, as there are dozens of sites vying for your business.
It can be difficult to know which ones to trust and where to find the best deals, so our cryptocurrency brokers USA guide can steer you in the right direction. Each of the available crypto trading platforms has various strengths and weaknesses, so our guide can help you find your perfect match, based on your particular needs and preferences.
Yet our guide is also perfect for experienced traders. You may think you know the best crypto trading platforms in US, but new US crypto brokers are emerging on a regular basis. You might be able to enjoy lower fees, better charting and an improved service by switching US cryptocurrency brokers.
How To Identify The Best Crypto Brokers In The USA
Anyone searching for the best trading platform for crypto in the USA should examine how well each site performs in these key categories:
Many investors buy crypto in a bid to make a profit. They get excited after reading of long bull runs and they want to be a part of the action. High trading fees will significantly eat into any margins you might earn when trading crypto, so seek out the platforms with consistently low fees. Remember that many cryptocurrency brokers tier their fees, so it is cheaper to trade large volumes. Also bear in mind withdrawal fees, which can be particularly onerous at some crypto brokers.
Beginners will naturally appreciate a simple, effective user experience. You should be able to navigate the site quickly and easily, trading should be simple and you should benefit from a broad array of helpful analytical tools. Yet a strong user experience is also vital for seasoned traders, who do not have time to waste and need to operate rapidly in this fast-paced sector.
The crypto sector is a bit of a Wild West, as it is still in the early days and regulation is patchy at best. It is therefore advisable to stick to cryptocurrency brokers USA that have not had any major security breaches in recent years, and it is always wise to transfer your coins to a hard, offline wallet as soon as possible.
Several scam sites will try to rip you off, so stick to the reputable, trustworthy cryptocurrency brokers listed on this page. Many crypto enthusiasts prefer to use the larger, popular brokers that trade cryptocurrency, as they have a history of facilitating reliable and effective transactions. You should also factor in customer service, as it can be painful to endure long waiting times when seeking help with a transaction.
Bitcoin and Ethereum dominate the headlines, but there are hundreds of altcoins for you to choose from. They are volatile and highly speculative, but if you value variety you should find a site that offers a broad range of cryptocurrencies to trade. If you check out crypto trading with Etoro in USA or crypto trading with Robinhood in USA, you will see that you can also trade crypto alongside a wide array of stocks, commodities, ETFs and so on.
Centralized Brokers vs. Decentralized Brokers
Most cryptocurrency brokers in the USA are centralized, meaning they run on a private server. The trading volume on the biggest centralized exchanges is very high and the liquidity is strong. Binance, Coinbase, Gemini and Kraken are all considered centralized, retail exchanges. If you read a Sofi Review or a Tradestation Review, you will notice that they are also essentially centralized brokerage services that allow you to trade stocks, ETFs, options and crypto.
The alternative is a decentralized exchange, which appeals to many people that appreciate the decentralized nature of Bitcoin and other cryptocurrencies. These are peer-to-peer exchanges, without a central business running them, and many investors feel that they offer greater levels of security and anonymity. They are especially popular in developing nations that lack a robust traditional banking sector, but they are not as common in the USA. You can also check out derivatives exchanges and instant exchanges, but most people stick to centralized crypto brokers.
Editor’s Recommendation – The Best Crypto Brokers in the USA
Coinbase is a strong choice for anyone seeking the best platform to trade cryptocurrency in the USA. It covers Bitcoin, Ethereum, Bitcoin Cash, Litecoin and many more cryptocurrencies, and the site is very easy to use. Trading fees are higher than rivals like Binance, but withdrawal fees are lower, so it is a great option for newcomers to the world of crypto brokerage. Transactions are conducted rapidly, and deposits and withdrawals are effective, while security has proved strong in recent years. The only major downside is the customer service, which is slow and inconsistent.
If you want to trade cryptocurrency futures alongside a range of other assets, such as stocks, commodities and funds, TD Ameritrade makes a great choice. It has superior customer service to many crypto specialists, the trading platform is excellent and it furnishes users with high-quality research and analysis tools. However, it does not enable standard crypto trading, only futures, and the site can be difficult for beginners to navigate. Check out a TD Ameritrade Review 2021 for more.
Crypto Trading with Forex.com in USA might also appeal to anyone that wants to go long or short on crypto. It allows you to manage risk, lock in profits and go long or short for low fees. Anyone searching for a decentralized exchange can check out Bisq, which is arguably the best of the bunch due to the simplicity, speed and privacy it offers.
How Our Experts Test Crypto Brokers USA
Our team of expert crypto traders have signed up for accounts with all the crypto brokers targeting investors in the USA. They mark the ease, speed and security of the registration process, and then begin buying, selling and exchanging crypto. They assess the deposit and withdrawal process, test the effectiveness and helpfulness of the customer support department and mark the overall user experience on offer at the site.
Our reviewers are looking for intuitively laid out sites that are easy to navigate and packed full of useful tools. They also perform a thorough analysis of the ownership, transparency, reputation and security record of each site. That is important, because there are plenty of shady sites that fail the transparency test and offer poor security.
Once they have compiled all the necessary information, we can weigh up the relative strengths and weaknesses of each site. That allows us to provide you with a comprehensive, independent, unbiased review of all the crypto brokers vying for your attention, so that you can make your decision from a position of strength. We regularly update our reviews to ensure that the best brokers maintain their high standards. We also monitor the market for exciting newcomers, and a check if there are any significant improvements among existing cryptocurrency brokers.
Finding the Ideal Cryptocurrency Brokers For You
Finding the right crypto broker for your needs requires you to figure out your priorities. Do you place more importance upon a polished, easy-to-use website, or would you sacrifice that for slightly lower fees? You also need to work out the sort of trading you will conduct. If it is for high volumes, you can probably afford to go for a site that offers lower trading fees and higher withdrawal fees. If you are buying small amounts, a site with lower withdrawal fees might appeal more.
You must also check to see if the site you like accepts your preferred payment method, and if it offers the cryptocurrency you want to buy. The best platform to trade cryptocurrency differs from one user to the next, as there is no such thing as the perfect broker, but if you read our reviews you will quickly gain an idea of what constitutes a good broker and how to identify red flags.
How to Sign Up at Crypto Brokers
It should be simple and painless to sign up at cryptocurrency brokers by following these steps:
- Read our reviews to find the best broker for your needs.
- Visit the site and click “Register” or “Get Started”.
- You will be required to enter your name and email address if you opt for one of the major centralized crypto broker sites.
- Choose a password and agree to the terms and conditions.
- Click through a link sent to your email address to verify it.
- Upload a scan of photo ID and proof of your physical address.
- Set up your preferred payment method, such as a credit card.
- Start buying and selling crypto.
Registering With Multiple Brokers
It might make sense for you to sign up for accounts with a few different cryptocurrency brokers in order to benefit from their different strengths. You can then use the site that is best for each specific trade you make. For example, Binance charges high withdrawal fees for Bitcoin, but its withdrawal fees on other blockchains are low, so it generally makes an excellent choice for trading altcoins, particularly if you hold a small amount of Binance Coin.
You might prefer to use Coinbase or another site for Bitcoin. You might alternatively start out using Coinbase and then progress to a site that offers more advanced charting as you grow more experienced. There are several leading brokers with cryptocurrency futures trading tagged on as an extra service, so you can sign up for sites like TD Ameritrade if you want to go long or short on a particular cryptocurrency.
Best Cryptocurrencies To Trade
It is easy to see why Bitcoin is the largest and most traded cryptocurrency. It is increasingly being snapped up by institutional investors, and it has enjoyed some highly prolific bull runs in recent years. It is seen by many as an inflation hedge, and it often performs well during times of economic uncertainty. Many people have made fortunes by trading Bitcoin, but it remains a volatile asset.
The other key cryptocurrency is Ether, the native token on the wildly popular Ethereum network. Ether has a shorter block time than Bitcoin, and that allows for quicker transactions, and the Ethereum blockchain has legions of loyal fans. There are multiple altcoins for you to invest in, but they are extremely volatile and significantly smaller than BTC in terms of market cap. Some of the key altcoins to consider are Litecoin, Bitcoin Cash, Stellar and Polkadot.
Conclusion – Finding The Right Cryptocurrency Brokers For You
The best cryptocurrency broker will differ for each investor depending on your individual needs, but there are several things you should demand from a crypto exchange. It should have a long history of fairness, reliability and transparency, a solid security record, reasonably low fees and a high-quality user interface.
Once you have ticked off those boxes, you can choose the site that accepts your preferred payment methods, covers the cryptocurrencies you are interested in, and proves the most cost-effective for the volume of trading you plan to conduct. Coinbase, Kraken, Binance and Gemini are among the top offers, while TD Ameritrade and Forex.com offer interesting crypto futures options alongside various other trading pairs. Make sure you read our reviews before registering with a crypto broker.