Best Bitcoin Brokers In The USA

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Go to broker’s website OKX Overview

If you're too busy to read the entire article and want a quick answer, If you are too busy to read the entire article and want a quick answer, the best Bitcoin trading broker in the US is OKX. Why? Here are its key advantages:

Is legit in your country (Identified as United States )
Has a good user satisfaction score 8.9 out of 10
Low or zero fees for cryptocurrency transactions, which helps increase overall profitability.
Additional choice of digital assets, which allows you to diversify your investment portfolio and take advantage of various market opportunities.

Go to broker’s website OKX Overview

Below, we'll explain in more detail why we believe this and how brokers were evaluated.

Best Bitcoin trading brokers in the US:

OANDA - Best for trading with advanced technical analysis tools (TradingView charts support)
FOREX.com - Diverse range of tradable assets (80+ currency pairs)
IG Markets - Favorable Forex trading conditions (0 fees, avg. EUR/USD spread - 0.8)
XPro Markets - Offers forex and CFD trading with multiple account types
Fyntura - A broker offering trading in Forex, CFDs, and cryptocurrencies on the MetaTrader 4 platform with leverage of up to 1:500.

When it comes to choosing a Bitcoin broker, it's important to choose one that is reputable and offers a robust platform. There are many different brokers out there, but not all of them are created equal. To help you narrow down your options, we've compiled a list of the best Bitcoin brokers in the USA for 2024. All of these brokers offer a great platform for buying, selling, and trading Bitcoin, so you can feel confident that you're getting the best possible service. In this article, we'll explore some of the best Bitcoin brokers in the US and then discuss what factors to consider when choosing a broker and how to start trading crypto with a broker.

Best Bitcoin brokers in the USA

Bitcoin is a decentralized digital currency that can be used to buy and sell goods and services. Unlike traditional fiat currencies, no central authority controls the supply or price of Bitcoin. Instead, it is created and regulated by a computer network that tracks all Bitcoin transactions. Miners are rewarded with new Bitcoins whenever they confirm a transaction, and the number of new Bitcoins created each year gradually decreases over time.

This makes Bitcoin a potentially very lucrative investment opportunity, but it also comes with some risks. That’s why it’s important to choose a reputable and trustworthy Bitcoin broker. Finding the right broker can be the difference between a successful Bitcoin transaction and an unsuccessful one. We have selected the best Bitcoin brokers for the USA for 2024 based on their technology and safety for your capital.

Best Bitcoin brokers in the USA
	Min. deposit, $	Max. leverage	Investor protection	Open an account
OANDA		1:200	£85,000 SGD 75,000 $500,000	Open an account Your capital is at risk.
FOREX.com	100	1:50	£85,000	Study review
IG Markets	1	1:200	£85,000 €100,000 SGD 75,000	Study review
XPro Markets	250	1:400	€20,000	Study review
Fyntura	10	1:500		Open an account Your capital is at risk.

How to choose the best Bitcoin broker in the USA?

When it comes to trading Bitcoin, there are a few things to consider to choose the best broker for cryptocurrency. The most important factors are reliability, education, customer support, fees, and passive income options. Let's take a closer look at each of these.

Reliability

Reliability is key when choosing any broker, but it's especially important when dealing with Bitcoin. Research a broker's regulation and trust level before signing up. Customer reviews can also be helpful in getting a sense of a broker's reliability.

Check the brokers' liquidity to know whether you'll be able to execute trades quickly and efficiently whenever you need to and whether you can withdraw your balance. Also, check the number and selection of other coins they offer if you need to venture beyond Bitcoin.

Educational materials

Education is another important factor to consider. Choose a broker with plenty of resources to help you learn about Bitcoin trading, such as videos, tutorials, blogs, FAQs, and webinars. The broker should also have educational materials about using the platform to make navigating various aspects of trading with them easier.

Multilingual support

Multilingual customer support can also be helpful if you're not fluent in English. This is important because you want to be able to communicate with your broker in your native language. The last thing you want is to have to rely on Google Translate when trying to make a trade.

The broker should also have a wide array of contact methods, including email, live chat, phone, and social media handles. If they operate some of these contact methods 24/7, even better. This means you can get a hold of them anytime you have a problem.

Fees

Fees are an important consideration when choosing any broker, but they're especially important when dealing with Bitcoin because the fees can add up quickly. Make sure to compare the fees charged by different brokers before making your decision.

Passive income options

Passive income is one of the best bitcoin investment strategies, making it something to look for if you're looking to earn additional income from your Bitcoin trading. Some brokers offer air drops, staking, interest earning, direct lending, affiliate programs, and referral programs that can help you earn extra income.

Rules and regulation

Licensing in the United States

Forex trading in the United States is strictly regulated by multiple agencies, including the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). These regulatory bodies oversee the Forex market, ensuring compliance with strict rules and standards to maintain market integrity and protect investors.

Investor protection in the United States

In the U.S., the CFTC and NFA regulations are aimed to protect investors by ensuring transparency, honesty, and fairness of Forex trading practices. Through comprehensive oversight and enforcement of regulatory frameworks, these agencies work diligently to prevent fraud, manipulation, and abusive practices, thereby creating a secure and trustworthy trading environment for investors.

Taxation in the United States

Profits derived from Forex trading activities are subject to taxation in the U.S. Forex traders must accurately report their trading gains as either ordinary income or capital gains, depending on the nature of their trading activity and holding period. Tax rates vary based on the trader's income tax bracket and whether the gains are categorized as short-term or long-term capital gains. Compliance with tax regulations is obligatory for traders to avoid potential legal consequences and ensure financial integrity.

How to start trading crypto with Bitcoin brokers

Ready to start trading crypto? Here's what you need to do:

Choose a reputable broker. After reading our review, choose one of the best cryptocurrency brokers on the list. All of them are reputable and reliable, but given the various features, you can choose the most suitable one for you.
Fund your account. Once you've chosen a broker, you'll need to fund your account before you can start trading. The process is typically pretty straightforward: you'll just need to transfer funds from your bank account into your broker's account.
Choose Bitcoin. If you're specifically looking to trade Bitcoin, just select it from the list of cryptos. There are many more different cryptocurrencies out there, but Bitcoin is still the king. However, over time you can venture to other coins like ETH and stablecoins like USDT.
Open a position and start trading. Now that you've funded your account and chosen your coin, it's time to start trading. The best cryptocurrency brokers will have a pretty user-friendly interface that will walk you through the process step-by-step. And once you've made your first trade, you're officially a crypto trader.

Methodology for compiling our ratings of crypto exchanges

Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.

Key aspects of the assessment include:

User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.

Try to minimize risks when trading Bitcoin in the USA

One of the main strategies for successful Bitcoin trading is proper risk management. First, start with a small capital. Even if you have significant financial resources, invest only the amount that you are ready to lose. This will help you avoid emotional decisions during market fluctuations.

Second, be sure to use the stop-loss function. This tool helps limit losses in the event of a sharp change in the rate. Set the stop-loss at a level that matches your strategy and do not change it without good reason.

Finally, monitor macroeconomic events and legislative changes in the United States. The Bitcoin rate can react sharply to statements by regulators or changes in the taxation of cryptocurrencies. Use trusted sources of news and analytics to make timely decisions and adjust your strategy.

Conclusion

Choosing the best broker for bitcoin trading in the US depends on your goals, experience, and strategy. Licensed platforms with transparent conditions and a reliable reputation should be a priority. Be sure to analyze fees, available tools, and the level of customer support. Using stop losses and money management will help minimize risks and improve trading efficiency. Regularly monitor changes in cryptocurrency regulation and adapt your actions to new conditions. Remember that success depends not only on the broker you choose, but also on your approach to analyzing and managing transactions.

FAQs

How to avoid mistakes when choosing a Bitcoin broker?

Read user reviews on independent platforms, check the broker’s licenses, and pay attention to the withdrawal conditions. Avoid companies with opaque commission policies or no contact information.

What additional tools can help improve your trading results?

Use economic calendars to track important events, training courses to develop your skills, and demo accounts to test strategies. This will help minimize errors and improve your efficiency.

What taxes should you consider when trading Bitcoin in the US?

In the US, profits from Bitcoin trading are subject to capital gains tax. Keep accurate records of your transactions and consult a tax professional to properly calculate your liabilities.

How to determine if Bitcoin trading is right for you?

Bitcoin trading is suitable for those who are prepared for high volatility and risks. Assess your financial capabilities, level of knowledge, and willingness to invest time in education to understand if this market is right for you.

Team that worked on the article

Maxim Nechiporenko has been a contributor to Traders Union since 2023. He started his professional career in the media in 2006. He has expertise in finance and investment, and his field of interest covers all aspects of geoeconomics. Maxim provides up-to-date information on trading, cryptocurrencies and other financial instruments. He regularly updates his knowledge to keep abreast of the latest innovations and trends in the market.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).