What Is the Easiest Exchange to Buy Crypto in USA?

Published: 3rd June, 2024 | Last Updated: 5th June, 2024

Markos Koemtzopoulos

Markos Koemtzopoulos is the founder and main writer of ElementalCrypto. He has been a lecturer at the University of Nicosia on cryptocurrencies and DeFi and has taught two courses on crypto and blockchain technology.

Navigating the diverse landscape of crypto exchanges can be challenging, especially if you’re seeking simplicity and ease. Centralized crypto exchanges, managed by a single organization, offer an easy way to convert fiat currency into crypto, though they come with potential security concerns and the risk of hacking. For investors asking, “What is the easiest exchange to buy crypto in the USA?”, this resource simplifies your search. We pinpoint and unravel the most user-friendly platforms, ensuring your crypto journey starts on the right foot with concise insights tailored to your needs.

This article is part of my series on how to buy crypto.

Snapshot of Top Crypto Exchanges

Illustration of various cryptocurrency exchanges supporting the article about what is the easiest exchange to buy crypto in the USA.

Your cryptocurrency investment journey starts by selecting the best crypto exchange that suits your needs. To help you make an informed decision, we have compiled a list of the leading crypto exchanges available in the market. Here’s a quick overview:

  • Best for Beginners: Coinbase
  • Best for Experienced Traders: Kraken
  • Best for Mobile Users: Crypto.com
  • Best for Security-Conscious Users: Gemini
  • Best for Altcoin Variety: Binance.US
  • Best for Zero-Fee Trading: Robinhood
  • Best for Social Trading: eToro
  • Best for Global Currency Access: BitMart
  • Best for Bitcoin Enthusiasts: Square Cash
  • Best Decentralized Exchange: Bisq

Each of these exchanges excels in their respective areas. Let’s explore their unique offerings.

Best for Beginners: Coinbase

coinbase app

Price: Trading fees range from 0.05% to 0.60%

Pros:

  • User-friendly interface
  • Extensive educational resources
  • Supports over 260 cryptocurrencies
  • Payment methods include: debit card, bank account transfers such as ACH and wire transfers.
  • Integrates well with Coinbase wallet, a hot wallet that anyone can use.

Cons:

  • Higher fee structure for instant buys
  • You can’t use a credit card

Boasting an intuitive platform design, Coinbase provides an ideal environment for beginners stepping into the crypto trading world. The simplicity of its interface and the wealth of educational materials it provides make the process of buying, selling, and storing crypto assets less daunting for new users. With support for over 260 cryptocurrencies, including popular ones like BTC, ETH, and SOL, it offers enough diversity for a beginner’s portfolio. However, this beginner-friendly environment comes at a cost. Coinbase’s fees are on the higher end, with additional costs for instant buys and debit card purchases. But if you value simplicity and education, then the premium might just be worth it.

Rating:

  • User Experience: 9/10
  • Variety of Supported Assets: 8/10
  • Fees: 6/10

Best for Experienced Traders: Kraken

Kraken app

Price: Trading fees range from 0% to 0.25% for Maker orders and 0.1% to 0.40% for Taker orders

Specifications:

  • Detailed insight into order books
  • Advanced trading tools like customizable chart analysis and order types
  • Easy-to-use mobile app and user interface
  • High-speed execution
  • Margin trading
  • The best exchange for security features. Kraken has never been hacked.
  • It has a separate crypto wallet that integrates well with the exchange

Pros:

  • Low trading fees
  • A rich feature set for advanced trading

Cons:

  • Complexity may not be welcoming to novices

Kraken serves as an excellent choice for experienced traders aiming to execute sophisticated trading strategies. Its advanced trading features, including customizable chart analysis tools and high-speed execution, allow you to dive deep into the world of crypto trading. Kraken’s competitive fees make it an affordable option for serious traders. However, its strength lies in its complexity, making it less welcoming to novices.

If you’re seeking a more complex platform that caters to your advanced trading needs, Kraken is a solid choice.

Rating:

  • Fees: 9/10
  • Variety of Supported Assets: 8/10
  • User Experience: 8/10

Best for Mobile Users: Crypto.com

Illustration of mobile phone with cryptocurrency app

Price: Trading fees start at 0.075% and drop to 0% for high-volume traders or those who stake significant amounts of CRO. In my research, these are the lowest transaction fees you will find.

Specifications:

  • Supports over 250 cryptocurrencies
  • Dedicated DeFi wallet
  • Up to 5% cash back rewards are available through its utility token, Cronos (CRO)

Pros:

  • A broad range of supported cryptocurrencies
  • Benefits like a dedicated DeFi wallet and cashback rewards
  • Ease of use

Cons:

  • Poor customer support
  • Higher trading fees for low-volume traders

Crypto.com’s mobile platform caters impeccably to the needs of on-the-go crypto traders, making it one of the best crypto options available. Crypto.com is one of the leading global crypto exchanges, available in 90 countries worldwide.

With support for over 250 cryptocurrencies, it offers a broad range of trade and the opportunity to earn interest rewards on major coins like Bitcoin, Ethereum, and USDC.

Its dedicated DeFi wallet and up to 5% cashback rewards through its utility token Cronos (CRO) are added benefits. However, its poor customer support and higher trading fees for low-volume traders might be a sticking point for some.

Still, if you’re looking for a mobile-friendly platform that offers a wide range of cryptocurrencies, Crypto.com is a solid choice.

Rating:

  • User Experience: 8/10
  • Variety of Supported Assets: 9/10
  • Fees: 7/10

Best for Security-Conscious Users: Gemini

Gemini crypto exchange

Price: Competitive trading fees on trades

Specifications:

  • Adherence to rigorous New York banking laws
  • Two-factor authentication is compulsory for all users
  • Support for hardware security keys

Pros:

  • High-level security measures
  • Rules-based marketplace to prevent fraud

Cons:

  • Premium fees

Gemini offers a perfect match for users who prioritize security.

As the world’s first SOC 1 Type 2 and SOC 2 Type 2 certified crypto exchange, it operates a rules-based marketplace to prevent fraud and abuse. Its strong adherence to New York banking laws and mandatory Two-Factor Authentication for all users ensure the security of investor funds.

The downside? These high-level security measures come with a premium. But the cost might be worth the peace of mind for users prioritizing security above all else.

Rating:

  • Security: 10/10
  • Variety of Supported Assets: 7/10
  • Fees: 6/10

Best for Altcoin Variety: Binance.US

Illustration of diverse altcoins

Price: Low fee structure

Specifications:

Supports over 150 cryptocurrencies

Tiered fee structure based on trading volume

Pros:

  • A broad array of supported altcoins
  • Low fees
  • Advanced features and real-time order books

Cons:

  • No USD withdrawal options
  • You can deposit USD in the United States
  • CEO is in jail

Binance.US is an ideal exchange for those deeply interested in altcoins. Here are some reasons why:

  • It supports over 150 cryptocurrencies, allowing traders to explore a broad range of altcoins.
  • It has a low fee structure, making it cost-effective for trading.
  • It offers a user-friendly interface and advanced trading features.
  • It has a strong security system to protect user funds.
  • It provides access to a wide range of trading pairs.

However, it’s important to note that Binance.US has limited USD withdrawal options, which might affect the liquidity options for some traders.

But if you’re looking for an exchange where you can dive into the world of altcoins, Binance.US is a top choice.

Rating:

  • User Experience: 8/10
  • Variety of Supported Assets: 9/10
  • Fees: 8/10

Best for Zero-Fee Trading: Robinhood

Price: Zero commission fee structure for crypto trades

Specifications:

  • Supports trading for around 15 different cryptocurrencies
  • Provides a wallet to its customers

Pros:

  • Commission-free crypto trading
  • Offers a wallet for users

Cons:

  • Limited range of supported cryptocurrencies and fiat currency options

With its zero-commission fee structure for crypto trades, Robinhood is particularly attractive for traders aiming to maximize their profits.

It also provides its customers with a wallet, enabling easier cryptographic asset transfer and management.

However, it supports trading for only around 15 different cryptocurrencies, limiting the variety for traders.

If your focus is on zero-fee trading and you’re not concerned about the variety of supported assets, Robinhood might be the right exchange for you.

Rating:

User Experience: 7/10

  • Variety of Supported Assets: 5/10
  • Fees: 10/10

Best for Social Trading: eToro

etoro crypto trading

Price: Higher crypto exchange fees for transactions

Specifications:

  • Unique ‘social trading’ feature
  • Social feed where users can interact

Pros:

  • Allows users to copy the trading strategies of successful traders
  • Social feed for interaction and strategy discussion

Cons:

  • Higher fees

eToro stands out with its distinctive ‘social trading’ feature, enabling users to mirror the trading strategies of successful investors.

This feature sets eToro apart from other trading platforms. Its social feed, where users can interact, discuss trading strategies, and share insights, adds another layer of community engagement to the trading experience.

However, these advantages come with higher fees for crypto transactions.

If you’re a trader who values community interaction and the ability to learn from others’ strategies, eToro might just be the right exchange for you.

Rating:

  • User Experience: 8/10
  • Variety of Supported Assets: 7/10
  • Fees: 6/10

Best for Global Currency Access: BitMart

Price: Trading fees depend on buy and sell trading volume

Specifications:

  • Supports trading in over 1,000 digital currencies
  • Crypto staking feature

Pros:

  • A broad range of supported digital currencies
  • Crypto staking for interest-earning

Cons:

  • Poor customer support

Supporting trading in over 1,000 digital currencies, BitMart offers access to a broad range of less common tokens.

It also enables users to engage in crypto-staking, allowing them to earn interest by locking up digital assets.

However, user feedback on BitMart is varied, with some facing fund transfer challenges and technical glitches.

If you’re looking for an exchange that offers a wide range of global currency access, BitMart might be worth considering.

Rating:

  • User Experience: 7/10
  • Variety of Supported Assets: 10/10
  • Fees: 8/10

Best for Bitcoin Enthusiasts: Square Cash

Price: Spread fee calculated using the mid-price

Specifications:

  • Supports trading for Bitcoin only
  • It allows users to withdraw their Bitcoin to third-party wallets

Pros:

  • An uncomplicated path for Bitcoin trading
  • Allows withdrawal to third-party wallets

Cons:

  • Offers a custodial in-app wallet

Square Cash (Cash App) provides a straightforward trading route for those exclusively focused on Bitcoin.

It’s unique in that it permits users to withdraw their Bitcoin to third-party wallets, giving them more control over their cryptocurrency.

However, it offers a custodial in-app wallet, which is considered less secure than non-custodial alternatives.

If you’re a Bitcoin enthusiast looking for a straightforward platform for trading, Square Cash is a top choice.

Rating:

  • User Experience: 8/10
  • Variety of Supported Assets: 5/10 (only supports Bitcoin)
  • Fees: 7/10

Best Decentralized Exchange: Bisq

Illustration of decentralized trading platform

Price: Trading fees depend on trading volume

Specifications:

  • A decentralized model with no central point of power
  • No ID verification required

Pros:

  • A high degree of privacy
  • Decentralized nature prevents manipulation

Cons:

  • Complex interface

Operating on a decentralized model, Bisq attracts privacy-conscious crypto investors.

Its high degree of privacy, with no ID verification required, ensures that you have complete control over your trades.

However, its interface is not beginner-friendly due to its complexity.

If you’re an investor looking for a decentralized exchange that prioritizes privacy, Bisq is a solid choice.

Rating:

  • User Experience: 6/10
  • Variety of Supported Assets: 7/10
  • Fees: 7/10

Navigating the Crypto Exchange Landscape

The selection of a crypto exchange can be intricate, requiring consideration of numerous factors.

With many crypto exchanges available, it’s essential to evaluate aspects such as:

  • trading and withdrawal fees
  • supported assets
  • security precautions
  • user experience

It’s essential to seek out exchanges that provide robust customer support and transparency about key operational details.

How to Identify Your Ideal Crypto Exchange

While searching for your perfect crypto exchange, don’t forget to factor in your personal preferences and trading styles.

Each exchange has strengths and weaknesses, and what works for one person may not work for another.

Check whether an exchange supports the crypto asset you want to trade before signing up and research its reputation thoroughly.

Remember that cryptocurrency exchanges may offer different features and fees, so choose wisely.

Understanding the Importance of Liquidity and Volume

Illustration of trading volume chart

In the process of selecting a crypto exchange, it’s vital to comprehend the significance of liquidity and trading volume.

Liquid markets allow for large orders to be executed without significant price shifts, minimizing the risk of market manipulation.

High liquidity on a crypto exchange indicates the capability to promptly fulfill orders without a substantial impact on the asset’s market price.

Trading volume is also a key factor in ensuring that there is enough liquidity to enable smooth and expeditious transactions on a cryptocurrency exchange, especially when it comes to cryptocurrency trading.

Markos Koemtzopoulos is the founder and main writer of ElementalCrypto. He has been a lecturer at the University of Nicosia on cryptocurrencies and DeFi and has taught two courses on crypto and blockchain technology.

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