Cryptocurrency Exchange Sites In The United States
Are you looking for the best cryptocurrency in the United States? If your answer is yes, then look no further, as we’ve got you covered in this post.
Since the advent of the cryptocurrency market, getting the best platform to trade it has always been a question. Further question includes, which site is the safest to trade?
Cryptocurrency hacking has also taken a toll on cryptocurrency. Thus, make people have cold feet about choosing a platform. Nobody wants to invest their hard-earned money into crypto and end up getting nothing out of it.
Some of the old crypto exchange platforms have either closed down due to hacking or mismanagement. In 2022 alone, crypto hackers made off with over $14 billion worth of crypto. Hence, the question: Which cryptocurrency exchange site is best and safest in the United States?
Well, the answer is personal. What may work for you might not work for us, and vice versa. However, we put up this post on the best cryptocurrency exchanges in the United States, and we made a list. The list here is based on service they offer, online reviews and user experience. Though, you might have different perspectives, but they are certainly among the best, no doubt about that.
5 Best Cryptocurrency Exchange Sites In The United States In 2023
Founded in 2012. Coinbase has proven to be the best exchange platform in the United States.
The platform currently boasts over 98 million active users, both within and outside the United States. More reasons why Coinbase is a go-to option for many people when it comes to crypto exchange platforms are that one can trade multiple coins as it accepts over 200 globally supported cryptocurrencies.
Additionally, Coinbase is known to offer multiple authentication methods as well as different security protocols to protect the wallets and transactions of their users. Within its 10 years of existence, there’s been no record of hacking.
Another reason why Coinbase stands out in the lists of the best crypto exchange platforms can be traced back to its flexible deposit minimum, the fantastic user interface of their three apps, and its considerable trading fees.
Kucoin has over 18 million users globally, and it offers one of the biggest crypto options with about 719 different currencies that can be traded on it.
Many people choose Kucoin mainly due to its low KYC criteria, 1 BTC daily deposit limit for unverified accounts, 200 BTC for verified accounts, and low trading fees. Since they have low KYC requirements, you may not be convinced to use them because of the fear that their servers may easily get hacked, isn’t?
Well, unfortunately, the site was hacked back in 2020 and the hackers stole over $275 million. Nonetheless, they were able to recover $201 million after placing a bounty of $100,000 for information regarding the hackers.
However, even though they weren’t able to recover all, affected customers were refunded in full. This is because Kucoin is insured, so your crypto is definitely in safe hands. Hacked or not, you can’t lose your money.
With millions of existing active customers using it, you did agree with us that Kucoin is obviously one of the best.
3. Binance US
Binance US is a subsidiary of the Binance platform. Binance US was founded in 2019 after Binance stopped service in the United States due to regulatory and management issues.
Binance US functions as an affiliate of Binance.
The platform is one of the best to store and trade your cryptocurrency due to its strict security protocol and two-factor authentication. Since it was founded, it has kept clean records and remained unhacked.
Though many may worry based on the past hacking records of its parent company, Binance, where they lost over $40 million to hackers in 2019.
However, it is evident that Binance US, offers one of the best services with its low trading costs as well as optimum security protection for your crypto assets.
Kraken is a cryptocurrency exchange platform that was founded in 2011. It currently boasts over 6 million users and trades over 200 cryptocurrencies.
Kraken stands as one of the best crypto exchange platforms in the United States. The reason for this is their uniqueness and lack of hacking records. Customers will always want a place where their assets are safe and can be traded without hassle or exorbitant trading fees.
Hence, many of them chose Kraken because they believe their assets are in safe hands. This is due to their strict security protocols as well as their availability to detect abnormalities quickly before they escalate.
Founded in 2014. Gemini is one of the leading crypto exchange platforms out there. It currently boasts over 13 million users globally.
Gemini is the first SOC Type 1 and 2 crypto exchange platform in the world. Now the question is, is Gemini safe to invest in or store crypto?
Yes, it’s very safe to use Gemini, as they provide stringent security protocols, which include two-factor authentication, security keys, and address listing. All this is to ensure their customers’ assets are safe.
Though Gemini’s security has once been breached by hackers in 2022, when they lost over $36 million. Has affected wallets been refunded? No, but all USD assets are insured by the FDIC, so there’s insurance coverage for digital assets, of which crypto isn’t exclusive.
These five cryptocurrency exchanges are no doubt the best from these perspectives: security protocols to safeguard wallets, insurance in case of hacking from their end, low service charges, and the number of active users.
Most crypto exchange platforms, including those listed here, are decentralized. So, now, are they safe? Sure, they are, and you also have roles to play to safeguard your wallet from being hacked or accessed. You do these by ensuring your password, security key, and other details are private enough.
Any loss on your end may not be refunded. However, if it’s a general hack, most of the ones listed here have insurance, so you don’t have to panic as you did get back your assets in full.