Best Bitcoin brokers in the USA 2024
NOTE!
If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.
Traders Union experts recommend considering Top 3 companies from our rating:
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 2023.
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.
Start trading crypto now with eToro!Top 9 Bitcoin Brokers in the USA
It's no secret that Bitcoin is one of the hottest investment opportunities around. But what exactly is Bitcoin, and how can you make sure you're using the best Bitcoin broker in the USA?
In simple terms, 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 keeps track of all Bitcoin transactions. Miners are rewarded with new Bitcoins whenever they confirm a transaction, and the amount of new Bitcoins created each year is slowly decreased over time.
This makes Bitcoin a potentially very lucrative investment opportunity, but it also comes with some risks. That's why choosing a reputable and trustworthy Bitcoin broker is important. Finding the right broker can be the difference between a successful Bitcoin transaction and a frustrated one. So, without further ado, here are the best Bitcoin brokers in the USA for 2023.
| Broker | Best For | Maker fee | Taker fee | Number of Supported Coins |
|---|---|---|---|---|
eToro |
Copy Trading |
N/A |
N/A |
25+ |
Coinbase |
Crypto Investors and Traders of All Skill Levels |
0.00% - 0.40% |
0.05% - 0.60% |
150+ |
Binance |
Zero Fee Trading |
0.1000% |
0.1000% |
100+ |
Kraken |
High Level of Security |
0.16% |
0.26% |
120+ |
Crypto.com |
Low Fees |
0.04% - 0.40% |
0.10% - 0.40% |
250+ |
Paxful |
Peer-to-Peer Crypto Trading |
0.1% - 5% |
0.1% - 5% |
3 |
Gemini |
Beginner and Advanced Crypto Investors |
Fee of $0.99 to $2.99 based on the amount or 1.49% for trades over $200 |
Fee of $0.99 to $2.99 based on the amount or 1.49% for trades over $200 |
63 |
Bittrex |
Low Fees for Advanced Traders |
0.35% |
0.35% |
440 |
XT.com |
Extensive Cryptocurrency Selection |
0.20% |
0.05% |
398 |
eToro USA - Best For Copy Trading
With eToro you can buy cryptocurrencies as well as stocks and ETFs. You can copy other investors' trades with its unique social trading feature.
CopyTrader is an innovative feature of eToro. With one click, eToro users can copy the trading of their favorite high-performance traders. Set your desired amount of money.
You can automatically mirror your favorite eToro trader's positions by allocating those funds. The social trading platform does not charge any management fees or other fees. It allows users to copy only one successful trader or up to 100 simultaneously using this trading tool.
There isn't a wide selection of cryptocurrencies on eToro when compared with the best cryptocurrency exchanges. Approximately 25 cryptos are available to U.S. investors, while non-U.S. investors can access around 75. There are also hundreds of cryptocurrencies available on other major U.S.-based exchanges.
There is a 1% fee plus a spread associated with crypto transactions on eToro. Compared to some of its competitors, this is a lower fee, but it is certainly not the most competitive. It is possible to trade crypto on some platforms for less than 0.1%. The costs of paying more than 1% in transaction fees can quickly eat into your profits if you plan to buy a lot of digital currencies. For buy-and-hold investors planning to hold crypto for a long period of time, eToro charges an inactivity fee after a year of inactivity.
👍 Pros
•Invest in stocks, ETFs, and cryptocurrencies
•Investors can copy each other's trades
•The app is user-friendly
•Debit card deposits are free
👎 Cons
•Cryptocurrency choices are limited
•Fees could be reduced
•State-by-state availability varies
Coinbase - Most Trusted Crypto Exchange
Coinbase is a popular cryptocurrency exchange that makes buying, selling, and exchanging cryptocurrencies easy. With Coinbase, you can buy Bitcoin just like you would a stock through an online brokerage, but be wary of the fees and poor customer service.
Beginners with basic computer skills can easily trade on Coinbase. Using Coinbase is as simple as going to the Coinbase website or downloading the Coinbase app for Android or iOS. You'll find the experience somewhat similar if you've traded stocks through an online brokerage.
Coinbase's main dashboard lets you see your portfolio, and buying and selling currencies are always just a few clicks away.
As of late, Coinbase has removed its full fee schedule from its online help section. But when you enter a trade, you can see how much you're paying on the trade screen.
👍 Pros
•Simple to use for beginners who are new to cryptocurrency
•A large number of cryptocurrencies are supported
•Opportunities to earn cryptocurrency
•Coinbase Pro offers lower pricing
👎 Cons
•Fees for transactions could be high
•Issues with customer service
•Several altcoins are not accessible for trading
Binance USA - Best for Zero Fee Trading
The Binance US crypto exchange offers a blend of useful charts and a simple user interface. Moreover, Binance US's spot trading fees are rock-bottom, and instant-buy fees are extremely competitive. Sadly, not all residents of the U.S. can access this platform.
Customers of Binance US can trade in tiers according to their risk tolerance.
There are no fees associated with Tier 0 trades in this case. The BTC/USD pair, BTC/USDC pair, BTC/USDT pair, and BTC/BUSD pair are the only four Bitcoin (BTC) trade types allowed. Tier 1 and Tier 3 cover the rest of the trades.
On certain asset pairs, Tier I trades have taker fees of 0.20% and maker fees of 0.1%. Some examples are Ethereum (ETH)/USD and Solana (SOL)/USD.
A Tier II trade starts at a 0.60% taker/0.40% maker fee for trading less than $10,000 in a 30-day period. Examples of Tier II asset pairs include Cardano (ADA)/USD and Polkadot (DOT)/USD.
Binance Fees ReviewThe more you trade on Binance US, the lower your trading fees become. On Tier I trades, traders with a 30-day trading volume greater than $50,000 but less than $100,000 will pay 0.075% taker fees. You can also save on transaction fees by using the platform's proprietary coin, BNB.
Its educational resources are not as impressive as those provided by its partner company in other geographic regions. In spite of that, Binance.US remains a very competitive platform, thanks to its industry-low tiered fees.
👍 Pros
•Its fees are low, especially when compared to its main competitors
•Support for a wide variety of cryptocurrencies
•Easily navigable trading platforms for crypto novices
👎 Cons
•Some U.S. residents may not be eligible
•The parent company suffered a major hack in 2019
Kraken - High Level Of Security
Kraken is one of the most established crypto exchanges on the market, having been launched just two years after Bitcoin. There is no rule that says the oldest is always the best, but Kraken is an exceptional platform with top-of-the-line security and more than 120 coins for domestic users and 160 for international users. Additionally, you can stake your crypto and earn rewards, all at a lower price point than average.
Those just starting out in cryptocurrency or those with more experience can benefit from Kraken's top-notch security, lower trading fees, and wide range of available cryptos. To avoid losing significant amounts of your investing dollars to spot trading fees, it is important not to stay at the beginner level for too long.
Kraken's basic version charges 0.9% flat fees for stablecoins, and 1.5% flat fees for all other cryptocurrencies.
Kraken Fees ReviewUsers of Kraken Pro, the higher-end version, pay considerably less. In the pro version, trades of $50,000 or less are charged a maker fee of 0.16% and a take fee of 0.26%.
Kraken's range of coins may appeal to more experienced crypto investors. Margin and staking are two options available to users. These last two had previously distinguished Kraken from many other leading platforms, but recently they were restricted to those with large amounts of assets in the U.S.
With more trading volume, Kraken offers more cryptocurrency trading markets and lower fees for advanced traders.
👍 Pros
•A range of advanced features, including margin trading and stakes.
•Excellent customer service options.
•Withdrawal fees for Bitcoin (BTC) are relatively low.
•A wide range of educational materials are available.
👎 Cons
•The exchange is not available in all 50 states.
•Fiat currencies are the only ones Kraken accepts.
•There have been many complaints about hacked accounts from users.
Crypto.com - Best for Low Fees
You may find Crypto.com to be a good option if you're looking for an all-in-one cryptocurrency platform that's affordable and easy to use. Aside from rewarding its users in several ways, Crypto.com offers over 100 different cryptocurrencies for investment. In addition to using crypto for everyday purchases, the exchange has its own VISA card. Furthermore, Crypto.com's debit card offers 8% cash back on purchases. You can earn crypto positions through crypto.com's rewards program if you enjoy spending money.
Also, Crypto.com withdrawal fees are free. Remember that if you're using a blockchain like Bitcoin or Ethereum to withdraw your funds, you'll still need to pay a transaction fee to miners.
👍 Pros
•A wide range of crypto assets are available.
•Cash transfers have low fees.
👎 Cons
•There are relatively high fees associated with credit and debit purchases.
•There are some services not available in the U.S.
•Trades between cryptos are not allowed.
Paxful - Wide Choice Of Payment Options
You can find others who are interested in using cryptocurrency to complete transactions with Paxful, a peer-to-peer (P2P) cryptocurrency exchange. In terms of financial exchanges, there are several features that make it appealing to those seeking a bankless method.
Although Paxful does offer some decentralized finance (DeFi) options, it isn't as robust as some other DeFi options. Moreover, Paxful has an iOS and Android app.
Paxful has an easy-to-use trading interface. Mobile and desktop trading apps are available.
For opening a trade, all you need to do is click the "New Order" button. Using Paxful's Facebook page or Instagram account, vendors can advertise their crypto offers to attract more buyers.
Paxful has pretty low fees when it comes to trading. When you withdraw money from an exchange to your bank account using a credit card, you will have to pay a service fee of between 1% and 2%. Paxful does not charge for buying Bitcoin, but most sellers pay between 0.1% and 5% in transaction fees.
Despite Paxful's good trading conditions and good features, you are only able to buy a limited number of cryptocurrencies. Bitcoin (BTC), Tether (USDT), and Ethereum (ETH) are the only supported currencies.
👍 Pros
•Cryptocurrency purchases are free
•There are more than 350 ways to pay or receive payment when selling Bitcoin
•Become an affiliate and earn extra income
👎 Cons
•Your options for buying crypto are limited
Gemini - Safest Crypto Exchange
Whether you're a beginner or an experienced trader, Gemini is a good option. If you are interested in crypto investing or trading, Gemini offers industry-leading security features, a hot wallet, and a comprehensive support center.
User-friendly features are available on Gemini's website and mobile app. Its simple purchase and selling options as well as its extensive support page make Gemini an ideal choice for beginners. With its ActiveTrader platform, experienced traders can execute trades quickly and can access advanced charting tools.
Other exchanges use a maker/taker fee structure, but Gemini uses a flat fee. There are different fees depending on the amount you trade and the platform you use. Gemini, for example, offers a fee schedule for mobile devices and a fee schedule for desktops. If the trade is more than $50 but less than $200, the fee is $2.99, and if the trade is more than $200, it is 1.49%.
Despite its transparency regarding its fees, this exchange's fee structure is more complex than that of some other exchanges. Additionally, it charges slightly more than many of its competitors in the industry.
👍 Pros
•The exchange is available in all 50 states of the United States
•Offers insurance for hot wallets
•Strict security measures
👎 Cons
•There are only about 100 cryptocurrencies available
•Fees associated with trading can be high
Bittrex - Leading Virtual Crypto Exchange
In terms of crypto exchanges, Bittrex offers just about everything a crypto investor could ask for. In comparison to most of its competitors, it offers robust security, reasonable trading fees, and more cryptocurrencies.
Bittrex offers more than 140 cryptocurrencies. In addition to the big market leaders, there are a variety of smaller tokens to choose from.
Bittrex charges 0.35% trading fees, which can go as low as 0.1% depending on how much cryptocurrency you trade. The fees aren't the lowest we've seen, but it's certainly an affordable exchange.
In addition to limit orders and stop orders, Bittrex offers advanced charting tools and a live order book. When it comes to investing in cryptocurrencies, this exchange should be able to provide you with the features you need.
Despite heavy demand, Bittrex's trading engine is designed for quick trade execution. Active investors can take advantage of this to capitalize on price movements.
👍 Pros
•Exceptional security
•A great selection of cryptocurrencies
•Fees are low
•Tools for advanced traders
•A strong collection of educational materials
👎 Cons
•Customer service is average
•Challenging for beginners
XT.com - Best Selection of Cryptocurrencies
According to XT.com, there are three reasons to choose their trading platform over other platforms. Their matching engine is highly efficient. As a result, any trades you wish to make will be executed promptly and without delay. Their security measures are also very strong. Measures such as offline signatures, layers of architecture, and separating hot and cold wallets are some of these measures.
Third, they offer over-the-counter trading. Using OTC-trading, you can make larger trades quickly. Those trades that you do not want to execute on the open market due to pricing reasons (also called slippage).
The trading fee on XT.com is 0.20% for takers. Conversely, makers have to pay only 0.05% per order executed and trade at a substantial discount. As a result, these fees are comparable to industry averages, if not slightly lower.
👍 Pros
•More than 100 cryptocurrencies and 300 trading pairs are available.
•Diversified trading categories are available on the platform.
•The FAQ and support forum are available along with the live chat option.
👎 Cons
•Training programs and study guides are not available.
Are Bitcoin Brokers Legit in the US?
The answer is a resounding yes. In the United States, Bitcoin brokers fall under the regulatory scope of the Bank Secrecy Act (BSA). This act requires financial institutions to maintain records and report suspicious activity. Bitcoin brokers must register with the Financial Crimes Enforcement Network (FinCEN).
FinCEN is a government agency that monitors financial transactions for evidence of money laundering, terrorist financing, and other illegal activity. To comply with FinCEN's regulations, bitcoin brokers must take measures to verify the identity of their customers and maintain records of their transactions. As a result, bitcoin brokers are subject to strict regulations to protect consumers and prevent fraud.
In addition, all firms that offer investment products, including Bitcoin brokers, must register with the Securities and Exchange Commission (SEC). The SEC oversees the activities of all firms that sell securities, including stocks and bonds. By registering with the SEC, firms are subject to regular inspections and audits to ensure they are complying with federal regulations.
Bitcoin brokers must also comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. These regulations require bitcoin brokers to verify the identity of their customers and report any suspicious activity to the authorities.
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 profits anytime. Also, check the number and selection of other coins they offer if you need to venture beyond Bitcoin.
How to Earn Free CryptoEducational 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 ahold 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.
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.
Bitcoin Brokers vs. Stock Brokers
When it comes to investing in cryptocurrency, there are two main types of brokers that you can use: Bitcoin brokers and stock brokers. Here's a quick rundown of the key differences between these two types of brokers:
Stock brokers that offer cryptocurrency are usually regulated more heavily than crypto brokers. This is because they are subject to the same regulations as traditional stocks and securities. As a result, you may have more peace of mind when working with a stock broker. However, one downside of using a stock broker is that you usually cannot make withdrawals in cryptocurrency.
The best Bitcoin brokers tend to offer more cryptocurrencies than stock brokers. While most stock brokers only offer a handful of the most popular cryptocurrencies, like Bitcoin and Ethereum, crypto brokers typically offer dozens or even hundreds of different coins. This gives investors more opportunities to diversify their portfolios and hedge against risk.
Crypto brokers also tend to charge lower fees than stock brokers. Since cryptocurrency trading is still a relatively new industry, competition among brokerages is fierce. As a result, many crypto brokerages have lowered their fees in order to attract and retain customers.
Finally, crypto brokerages tend to be more innovative than stock brokerages. For example, some crypto brokerages offer features like margin trading and staking, which stock brokerages do not commonly offer.
FAQ
What are the benefits of using a Bitcoin broker?
The best Bitcoin brokers offer a variety of benefits, including convenience, security, and transparency.
How do I choose the best Bitcoin broker?
When choosing the best Bitcoin broker, you should consider factors such as fees, security, customer support, and reliability.
What are the risks of investing in Bitcoin?
Bitcoin is a volatile asset, so there is always the potential for loss when investing. However, if you do your research and invest responsibly, the rewards can be great.
What are some tips for investing in Bitcoin?
Some tips for investing in Bitcoin include diversifying your portfolio, understanding the risks involved, and doing your research.
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.
Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
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). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.