American crypto investors have a number of different choices when it comes to exchanges. While some of the world’s top cryptocurrency exchanges have banned Americans due to unclear regulations and liability concerns, other exchanges continue to welcome users from the United States.
Which cryptocurrency exchange is the best for an American? Today, we’re featuring the top 6 cryptocurrency exchanges available to American investors.
Coinbase is a San Francisco-based cryptocurrency exchange platform. It’s arguably the world’s best-known crypto exchange, and it’s one of the top choices for American investors – particularly those who are new to the crypto industry and are looking for the easiest way to buy bitcoin in the United States.
Coinbase, today, is limited to just four cryptocurrencies, including bitcoin, Litecoin, Ethereum, and Bitcoin Cash. However, Coinbase recently announced plans to add Ethereum Classic (ETC) to its offerings later this year.
Coinbase also recently acquired Paradex, which means it could expand its offerings to include ERC20 tokens in the near future. That could potentially add hundreds of new digital tokens to the Coinbase platform.
Coinbase is also particularly useful for institutional investors in the United States. Coinbase has rolled out a number of investments products catered to institutional investors. This past week, Coinbase made headlines for launching its new crypto custody service, a service that could allow billions of fresh institutional dollars to pour into the industry.
Coinbase is available for both mobile and desktop users.
Binance is available to desktop users. Launched in 2017, it quickly grew to become one of the world’s most popular exchanges by trading volume. For a long time throughout late 2017 and early 2018, Binance was the world’s number one most popular exchange by trading volume. Today, Binance consistently sits in the top 3 or top 5 cryptocurrency exchanges by trading volume.
One of the advantages of Binance for American crypto investors is its coin availability. Binance offers more than 140 altcoins on its platform, and they’re consistently leading the way in terms of features and improvements. They were one of the first exchanges to launch their own useful cryptocurrency, the Binance Token (BNB), which gives users a steep discount on exchange fees.
Binance also recently announced the launch of its closed beta for a crypto information app called Binance Info.
Binance is available to American investors, although the exchange is headquartered in Malta. Binance is exclusively available over your desktop.
Kucoin is headquartered in Singapore and provides exposure to over 140 cryptocurrencies, including bitcoin and 140+ altcoins. Another unique advantage of Kucoin is the addition of a Neo market and daily NeoGas payouts for users’ Neo balances. In other words, you can participate in Neo’s ecosystem and earn Neo staking rewards while still leaving your coins on the Kucoin exchange.
Kucoin is also known for its referral system. the exchange recently introduced a three-tier referral system, allowing current Kucoin users to earn money by referring new users.
Kraken, like Coinbase, is headquartered in San Francisco. The exchange is available to customers in most parts of the world, including the United States, the European Union, Japan, and Canada. It claims to be the world’s largest cryptocurrency exchange in terms of Euro volume and liquidity. Kraken consistently sits within the top 5 or top 10 exchanges by trading volume, and it’s one of the most highly-regarded platforms in the industry today.
Kraken offers a number of fiat to crypto pairs, including USD and EUR pairs, among others. Margin trading is also available.
Poloniex is a long-running cryptocurrency exchange that was recently acquired by Circle, a Goldman Sachs-backed company. Today, Circle and Polonix are the same exchange with the same liquidity pool, although they’re still two separate brands. Circle’s flagship platform, Circle Invest, offers similar products to Coinbase, making it easy for American investors to buy cryptocurrencies.
Circle plans to target institutional investors in a similar way to Coinbase. They’re rolling out a number of institutional products, and Circle recently announced its framework for adding new cryptocurrencies to the platform.
Abra, headquartered in Silicon Valley, California, is one of the more unique options on this list. Abra is known for its user-friendly mobile app. In fact, Abra doesn’t offer desktop trading: it’s exclusively a mobile platform.
If you’re looking for an easy way to buy and sell cryptocurrencies from a mobile device in the United States, then Abra may be the best option for you.
Abra offers a handful of different fiat currencies, including USD, EUR, and PHP, as well as bitcoin and major altcoins (ETH and XRP). What makes Abra unique, however, is that users can get exposure to a particular currency via smart contracts on bitcoin or Litecoin. That means users can’t hold the actual currencies, although the coin-pegged smart contracts allow users to access a wider range of cryptocurrencies and altcoins with reduced complexity.
This past week, Abra announced it was adding five new cryptocurrencies to its platform, including Neo (NEO), Verge (XVG), Monero (XMR), NEM (XEM), and Lisk (LSK). These new additions will increase Abra’s cryptocurrency offerings to 25 cryptocurrencies and 50 (!) fiat currencies.
Top 6 US Trading Platforms Conclusion
American crypto investors have a number of different cryptocurrency exchanges available today. While some major exchanges have banned American cryptocurrency investors, others continue to welcome American investors with open arms.