However, maker fees can drop as low as 0%, and taker fees can drop as low as 0.10% (for traders with 30-day rolling volumes of over $10 million). Trading and holding Bitcoin and cryptocurrencies are taxable assets under the US Federal laws. Any sale of cryptocurrencies is considered a capital gains event and the profit or loss must be declared as part of an individual or company tax return. Taxable actions include digital assets bought, traded and sold on exchanges, mined, used to pay for things and earned through crypto interest savings accounts.

You might be perfectly fine using a crypto exchange that only trades a few coins. Conversely, if you’re a crypto fiend, you may want access to all of the more than 600 available on Gate.io. This can be an issue if you prefer to move your crypto to a secure third-party wallet or onto another exchange. The trouble is that decentralized exchanges are much less user friendly, not only from an interface standpoint but also in terms of currency conversion. Decentralized exchanges, for instance, don’t always allow users to deposit dollars and exchange them for crypto.

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Kraken, also headquartered in San Francisco, has teased going public several times. The large cryptocurrency firm is known for having relatively low trading fees, with many cryptocurrencies available. Kraken is available in 48 U.S. states, New York and Washington being the two states where Kraken is unavailable. Earning USDT for free typically involves participating in airdrops, referral programs, or crypto faucets offered by some platforms. Many exchanges and wallets run promotional campaigns rewarding users with USDT for completing specific tasks.

Of the world’s largest crypto exchanges, it has been reported that KuCoin does not report information directly to any U.S. governmental organizations, including the IRS. However, KuCoin is also not licensed for use anywhere in the United States. These ten variables benchmark features and options across the crypto exchanges and brokerages we surveyed. In addition, Gemini offers an extensive selection of educational materials in its Cryptopedia library. Users can read up on a whole host of crypto topics, from advanced crypto trading strategies to understanding the latest developments in decentralized finance (DeFi).

Best for Crypto Copy Trading: Bitget

EToro, as the fourth-best multi-asset broker in the US, offers a robust platform for diverse financial investments. It features a vast portfolio of over 4,500 assets, including a wide range of cryptocurrencies like Bitcoin and Ethereum, alongside traditional investment options such as stocks, commodities, and ETFs. This selection caters to investors aiming to diversify their portfolios in a single, secure environment, under strict regulatory compliance.

The New York-based exchange has hot wallet insurance to make sure user funds remain safe in the case of a security breach. Alex is a banker-turned-bitcoiner who ditched the bond trading desk for working remotely from all corners of the world, creating engaging and educational content for Bitcoin startups and crypto media publications. Due to its stripped-back interface, Coinbase is a versatile platform and is undoubtedly one of the best ways to buy Bitcoin and other cryptocurrencies for US citizens. Kraken boasts useful cryptocurrency trading tools and automated portfolio monitoring. Additionally, it has a good selection of conditional orders, including Market, Limit, Stop loss, Take profit, and Stop loss limit.

Decentralized Exchanges

Furthermore, customers can spot-trade 349 crypto assets, 789 pairs, and 183 derivates markets. EToro is an easy-to-use crypto exchange available without restrictions to US residents. Its social trading features make eToro an option for users without much experience looking to start trading.

With a significant 24-hour trading volume surpassing $5 billion and a global user base of over 14 million, Gate.io demonstrates its strong position and popularity in the worldwide cryptocurrency landscape. The platform is enhanced by unique features such as automated trading bots and a specialized section for startup projects, offering U.S. https://www.tokenexus.com/best-crypto-exchange/ investors diverse and engaging market opportunities. This includes unique trading events and competitions designed to cater to the interests of American investors. Investopedia collected and analyzed key data points from several crypto exchanges to identify the most important factors for readers choosing the best crypto exchange company.