What are the best crypto exchange rates for U.S. citizens?

Choosing the right crypto exchange is the first and most important step when entering into the world of cryptocurrencies. There are over 100 active platforms available to choose from in the U.S., the most popular of which include Binance, Gemini, Crypto.com, Kraken and Coinbase. Some offer a wider range of cryptocurrencies, while others offer lower exchange rates, enticing features and even discounts. The critical step is choosing the exchange that aligns best with your needs, strategy and goals. In this article, we lay out our findings from our research into some of the best crypto exchange rates for U.S. citizens, which exchanges they are offered by, and the main considerations you should assess before signing up for a crypto exchange. 

What kinds of rates might a crypto exchange charge?

Crypto exchanges charge different kinds of rates and fees, and it is vital to have a solid understanding of each before choosing a crypto exchange. The most common charges include maker and taker fees, which are applied by an exchange when you place an order that either adds liquidity (maker) or removes it (taker) from the market. These fees typically range from 0.00% to 0.50%, depending on the platform and trading volume. Some exchanges also charge spread fees, where they mark up the price of a crypto asset slightly above its market value, leading to an added hidden cost when buying or selling. 

Another important rate to bear in mind is the deposit and withdrawal fee, which also varies depending on the crypto exchange or platform, and payment method. While many offer free crypto deposits, fees may be charged when users withdraw funds (particularly into a bank account). Some exchanges also charge conversion fees when swapping between different cryptocurrencies, whereas others may offer discounted rates for users who hold and use their native token, such as Binance, which offers a 25% discount to BNB holders, or OKX, which offers Up to a 40% discount for OKB holders. 

What are the best crypto exchange rates for U.S. citizens?

In general, Binance US offers the best crypto exchange rates for U.S. citizens, charging 0% – 0.6% depending on the transaction. But let’s break that down a bit further. Binance US’s maker and taker fee is 0.1000%, which would be considered a low trading fee, especially given the extra discount offered to BNB holders. Binance US is specifically tailored for U.S. citizens, and is fully compliant with local regulations surrounding crypto use. The exchange offers 158 cryptocurrencies for trading, which is, for example, fewer than Coinbase and Kraken, but unless you’re going to search for obscure and unknown tokens, won’t affect your ability to trade. 

Kraken is another popular crypto exchange available to U.S. citizens, but it is perhaps one of the most expensive, as it charges between 0.16% and 5% rates depending on the transaction. Kraken is one of the most comprehensive crypto exchanges, offering around 250 different cryptocurrencies, but with a taker fee of 0.40%, it may be worth weighing up how many tokens you really need access to. Other popular exchanges include Coinbase, which has a great user-friendly interface and offers exchange rates of between 0% and 3.99%, depending on the transaction; Gemini, which offers rates of between 0.5% and 3.49%; and Crypto.com, with rates ranging from 0% to 2.99%, among many others.

Other factors to bear in mind when choosing an exchange in the U.S.

Beyond exchange rates, there are several other factors U.S. citizens should consider when choosing the crypto exchange that is right for them. Security is always a top priority, as crypto transactions are irreversible. Look for platforms that offer two-factor authentication (2FA), cold storage for digital assets, and insurance policies that protect against hacks. Kraken and Gemini are known for their industry-leading security measures, while Binance US and Coinbase also implement strong protections to safeguard user funds. 

Another important aspect is regulatory compliance and Know Your Customer (KYC) requirements. Most U.S.-based crypto exchanges require identity verification to comply with federal regulations, which also help to prevent fraud and money laundering. While it might feel like an extra step in the sign-up process, KYC ensures a safer trading environment for everyone, and often gives you higher withdrawal limits. Factors such as liquidity, customer support and user-friendliness are also key to bear in mind when evaluating different exchanges. Low exchange rates are important, especially if profitability is a priority, but finding “the whole package” should take precedence.

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