Top 5 crypto exchanges in U.S
- VS
- 4 Aug, 2023
Introduction
Over the recent years, crypto trading has surged in popularity among investors, serving both as a diversification tool and a full-time trading option. While some have found lucrative opportunities in crypto investments, others have faced disappointing outcomes. This trend is particularly pronounced in the U.S., where a growing number of traders are engaging with the expanding landscape of crypto innovations. Enhancing the overall crypto trading experience, however, hinges not only on these innovations but also on the seamless capabilities of crypto exchanges.
In this article, we delve into a detailed exploration of the top 5 crypto exchanges currently operating in the U.S.
Coinbase
Coinbase is one of the top-notch US-based crypto exchanges launched back in 2012. In the realm of cryptocurrency, Coinbase has built its legacy by venturing into different crypto innovations and expanding its partnership across the globe. Currently, Coinbase is holding up around a whopping $21.29 billion in market capitalization.
Coinbase provides a seamless experience for both beginners and experienced traders, offering a wide range of features such as recurring purchases, a mobile app, and an intuitive trading platform. With regulatory compliance and a strong reputation, Coinbase continues to be a go-to choice for individuals and institutional investors seeking a reliable and accessible entry point into the world of cryptocurrencies.
Gemini
Founded in 2014, Gemini is another prominent cryptocurrency exchange based in the United States, known for its emphasis on security and regulatory compliance. It was founded by the Winklevoss twins.
Gemini has gained popularity for its commitment to creating a safe and transparent trading environment. The platform offers a user-friendly interface, making it suitable for newbies in the crypto tradings. Gemini supports various cryptocurrencies, including Bitcoin, Ethereum, and others, providing a range of trading options to its users. With its robust security measures and adherence to regulatory standards, Gemini has become a reliable choice for individuals and institutional investors.
Crypto.com
Crypto.com is a prominent cryptocurrency exchange and financial services platform that operates in the United States and several other countries. Established in 2016, Crypto.com has rapidly grown in popularity due to its comprehensive suite of offerings.
The platform allows users to buy, sell, and trade a wide range of cryptocurrencies with ease, making it attractive to both beginners and experienced traders. In addition to its exchange services, Crypto.com offers various financial products, including a Visa debit card that allows users to spend their cryptocurrencies at millions of merchants worldwide.
Robinhood
Launched in 2013, Robinhood gained prominence for its commission-free trading model in traditional financial markets. It started offering commission-free crypto trading services from February 2018 in the United States. In the realm of cryptocurrencies, Robinhood offers users the ability to buy, sell, and trade various digital assets, including Bitcoin and Ethereum.
The platform's intuitive interface and mobile app have attracted a diverse user base, from newcomers to experienced traders. Despite its user-friendly approach, Robinhood has faced both praise and criticism for its simplified interface and limited features compared to dedicated crypto exchanges. Nonetheless, its unique position as a gateway for both traditional and digital investments has made Robinhood a notable contender in the cryptocurrency exchange landscape.
eToro
eToro is a prominent social trading and multi-asset investment platform that has expanded its offerings to include cryptocurrency trading in the United States and other regions from 2014. Since its inception in 2007, eToro has gained recognition for its innovative approach that combines trading, social networking, and investment. In the realm of cryptocurrencies, eToro enables users to buy and sell various digital assets, such as Bitcoin and Ethereum, alongside traditional financial instruments.
One of eToro's distinctive features is its social trading aspect, allowing users to follow and even replicate the trading strategies of successful investors. While praised for its user- friendly interface and social integration, eToro has also faced scrutiny for certain fees and limitations.
Table of Comparision
| Coinbase | Gemini | Crypto.com | Robinhood | eToro | |
|---|---|---|---|---|---|
| Launch Year | 2012 | 2014 | 2016 | 2018 | 2014 (Listed Crypto On Platform) |
| Market Capitalization | $21.29 B | $3,300,770,890.33 | $1,559,412,044.89 | No info available | No info available |
| Withdrawal Fees | 1% | Dynamic Withdrawal Fees (No fees applied to fiat Withdrawal) | Dynamic Withdrawal Fees | Commission-free platform | No fee |
| Trading Volume (24-hour) | $717 M | $13.55 M | $81.03 M | No info available | No info available |
| Trading Fees | Vary from 0% and 0.4% | Vary from 0% and 0.35% | Vary from 0.04% to 0.20% | Commission-free platform | 1% |
| Avg. Liquidity | 789 | 682 | 654 | No info available | No info available |
| Max Trading Amount | $25,000 to $100,000 per day based on account level | $5,000 to $1 million per day based on account level | $10,000 to $1 million per day based on account level | No info available | $10,000 to $1 million per day based on account level |
| Supported Cryptocurrencies | 246 | 117 | 247 | No info available | 70+ |
| Countries | 100+ | 60+ | 150+ | Only Available in U.S. | 140+ |
Conclusion
These are some widely popular crypto exchanges located in the U.S. that are holding a larger user base. The main reason behind the popularity of these 5 crypto exchanges is their capability to deliver a smooth user experience. Also, additional functionalities and interoperability offer users to enjoy different trading products on a single platform. Here note that crypto investments are highly volatile in nature and one should consider their risk-appetite before investing in cryptocurrency.