Top cryptocurrency exchange websites in the USA.
Digital currencies have become a new source of financial opportunity for many residents within the US. When deciding which crypto currency exchange to use, a lot of factors come into play. In this blog post, we’re going to analyze the top crypto currency exchange websites in the US and their pros and cons. Pay attention, as there’s enough information to digest.
Coinbase is one of the most popular digital currency exchange and wallet platforms in the world. It was founded in 2012 by Brian Armstrong and Fred Ehrsam. The headquarters of the digital currency are in San Francisco, California. Its popularity is not only limited to the US in particular but also the world in general.
Coinbase, as a digital currency exchange, allows users to buy, sell, and store various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others. Its simple interface has been praised by most customers, as it makes digital transactions very cool and simple. Coinbase is an attractive option for both beginners and experienced traders.
Initially, when Coinbase was founded in 2012, its major purpose was to allow customers to complete Bitcoin-related transactions without issues. Although the company’s original headquarters were based in San Francisco, tremendous growth since 2012 means the company now operates in more than 100 countries with a decentralized headquarters. By the way, that’s not all; Coinbase has now grown into a huge publicly traded cryptocurrency exchange with a whopping market value of more than $16 billion.
Coinbase has a large number of supported assets; they’re more than 300 in number. The platform of the app is equally a factor that attracts first-time crypto buyers; the app looks more like a bank app, making it easier and simpler for traders to navigate.
Coinbase takes steps to protect users’ funds by insuring the digital assets it holds and safeguarding U.S. dollar balances in bank accounts insured by the Federal Deposit Insurance Corporation (FDIC), which helps mitigate the risk of loss in the event of a security breach. Additionally, the exchange supports multiple payment methods for funding trading accounts, such as wire transfers and ACH transfers.
Pros and cons of using Coinbase
Below are Pros and cons of using Coinbase
Pros of using Coinbase.
- User-friendly interface: Coinbase is known for its intuitive and easy-to-use platform, making it a great option for beginners.
High liquidity: Coinbase is one of the largest
- cryptocurrency exchanges in the world, which means that there is a high volume of trading activity and high liquidity for buying and selling cryptocurrencies.
- Security: Coinbase takes security seriously and has implemented various measures to protect user funds, including two-factor authentication and cold storage of funds.
- Wide range of cryptocurrencies: Coinbase offers a wide selection of cryptocurrencies for users to trade and store, including popular options like Bitcoin, Ethereum, and Litecoin.
- Insurance: Coinbase is insured against theft and hacking, which provides an additional layer of security for users.
Cons of using Coinbase:
- Fees: Coinbase charges fees for buying and selling cryptocurrencies, which can be higher than on some other exchanges.
- Limited access to funds: Coinbase has been known to freeze user accounts in some cases, which can restrict access to funds for an extended period of time.
- Limited control over funds: Coinbase stores user funds in its own wallets, which means that users do not have complete control over their funds and must trust Coinbase to keep them secure.
- Privacy concerns: Coinbase has been criticized for its lack of privacy, as it requires users to provide personal information and can share user data with law enforcement and government agencies.
- Slow customer support: Another critical issue with Coinbase is that it has been criticized for its slow customer support, which can make it difficult for users to resolve issues in a timely manner.
Kraken is a crypto exchange website where people can buy, sell, and trade cryptocurrencies like Bitcoin. It was started in 2011 by Jesse Powell, who really likes Bitcoin.
The headquarters of Kraken are in San Francisco, and Jesse wanted to make sure that people could use Kraken safely and easily. Lots of people like using Kraken now because it’s a big and trustworthy website with many different tools for people who are new to or experienced with buying and selling cryptocurrencies.
Kraken provides users with two distinct trading platforms: the primary trading platform and Kraken Pro, its professional trading platform. Kraken Pro offers a customizable dashboard with advanced chart analysis tools, comprehensive order book insights, 13 order types, and lightning-fast execution. Apart from spot trading, Kraken’s platform supports margin trading and enables users to execute cryptocurrency derivatives trading strategies.
Here are some pros and cons of using Kraken as a cryptocurrency exchange.
- Security: Kraken is known for its high level of security, including two-factor authentication and cold storage of funds.
- Wide range of cryptocurrencies: Kraken supports a wide variety of cryptocurrencies for trading, including Bitcoin, Ethereum, and many others.
- Mobile app: Kraken has a mobile app that allows users to trade cryptocurrencies on-the-go.
- Great customer support: Kraken has a reputation for excellent customer support, with a dedicated support team available to answer questions and resolve issues.
- Slow verification process: Kraken’s verification process can be slow and cumbersome, which may be a disadvantage for users who want to start trading quickly.
- Limited payment options: Kraken offers limited payment options compared to some other exchanges, which may be a disadvantage for some users.
- Not Available in All States Within the United States of America
Bitmart is a world-known crypto currency exchange. Founded in 2017, these exchanges are available in more than 150 countries and are incorporated in the Cayman Islands.
Bitmart, having established itself as one of the most reputable crypto exchanges, allows both new and existing customers to sell, buy, and store over 800 digital currencies
Here are some pros and cons of using Bitmart as a cryptocurrency exchange.
- Simple Dashboard: With Bitmart, buying and selling of digital currencies is actually very simple, and this is because the features of Bitmart are really easy to navigate, especially for new users who may be trying to find their way around.
- Large-scale crypto support: Bitmart supports a huge amount of crypto currencies, meaning you have access to trading various cryptos.
- There’s a security question mark on Bitmart after the event of 2021, in which the company experienced a very complex hack that leaves more to desire. It may have been in the past, but its memory still haunts.
- Poor customer service: many times, customers have complained of Bitmart’s inability to respond effectively; this is a major con for the exchange company.
Gemini is a New York-based crypto exchange that was launched by Tyler and Cameron Winklevoss in 2014.
Gemini is one of the most secure crypto exchanges in the world; the company really lays emphasis on compliance and security.
To ensure the security and safety of customer transactions, it required users to complete a two-step authentication and verification exercise. Gemini is a very good website for all your crypto-related exchanges.
Here are some pros and cons of using Gemini as a cryptocurrency exchange:
- If you reside in the US, then you don’t need to worry, this is because Gemini is available in all states within the United States.
- Gemini operates with high liquidity exchange.
- In the event of a hack or any unforeseen circumstance, there’s no need to worry as Gemini Insures funds held in a hot wallet.
- The crypto currency exchange is built on high security, making fraudulent activities almost impossible.
- One of the major cons of Gemini is the fact that completing many trades comes with really high fees. They may argue that their exchange is more secure than most competitors, but you won’t blame them either because it’s a fact.
- Unlike exchanges like Coinbase that support a variety of crypto currencies, Gemini only supports a few cryptos compared to their competitors.
We’ve been able to list and explain some crypto currency exchanges in the United States of America; the list is exhaustive, but I can assure you that this one stands out from most others.