Bitcoin Trading Platform
The top crypto exchanges for bitcoin trading in the United States provide three critical advantages. The first and most important is strong security, including two-factor authentication, cold storage, and integrated safe wallets. The second need is a user-friendly website and platform. Third, they let you trade a range of cryptocurrencies such as bitcoin and ethereum.
In our evaluation and rating of cryptocurrency exchanges, we concentrated on traditional exchanges located and regulated in the United States, as well as incumbent online brokers in the United States that are expanding to offer bitcoin trading in addition to standard stock trading (such as buying shares of Apple or Google).
The Most Effective Bitcoin Trading Platform
- StockBrokers.com 2021 Evaluation
- TradeStation - The Most Effective Trading Platform
- Coinbase is the best cryptocurrency exchange.
- Low Fees on eToro
- Schedule of Maker-Taker Fees for Kraken
- Bittrex - The majority of altcoins
- Gemini - Provides the Gemini Dollar
- Robinhood is the best mobile app.
Here's a rundown of some of the finest online brokers for crypto trading in the United States.
1. The TradeStation
TradeStation, a trading technology company, provides casual and active traders through its web-based platform and award-winning desktop interface, all with $0 stock and ETF transactions. You may use TradeStation Crypto to buy, sell, and trade bitcoin, litecoin, ethereum, bitcoin cash, and XRP. TradeStation Crypto serves both institutional and retail customers. Read the entire review.
TradeStation is a wholly-owned subsidiary of Monex Group, Inc., one of Japan's major online financial services companies, with headquarters in Plantation, Florida (1). TradeStation's origins may be traced back to 1982 when the firm was known as Omega Research. TradeStation, the firm's primary platform, was created in 1991, and TradeStation Group was a NASDAQ-listed company from 1997 until 2011 when it was bought by Monex Group (2).
Price: TradeStation Crypto has a straightforward pricing structure. Account balances less than $100,000 are subject to a 0.50 percent maker charge and a 0.50 percent taker fee. Account balances greater than $100,000 do not incur a creator charge, instead of incurring a 0.25 percent or 0.125 percent cost according to account size. At this commission rate, purchasing $1,000 worth of Bitcoin would cost $5.00. (BTC).
2. Cryptocurrency Exchange
Coinbase, founded in June 2012, is the largest cryptocurrency exchange in the United States, with over 20 million members. Coinbase is primarily recognized for its user-friendly website and Coinbase Pro bitcoin trading platform. Coinbase allows you to trade 14 different cryptocurrencies, including bitcoin, ethereum, and litecoin.
Pricing: The average commission when purchasing Bitcoin from a connected ACH account is 1.49 percent. The typical fee is when purchasing Bitcoin by selling another cryptocurrency in your Coinbase Wallet (or vice versa).50 percent. Buying $1,000 worth of Bitcoin, for example, would cost $15 from a connected bank account.
3. eToro
eToro is ideal for investors looking for zero-commission stock and ETF transactions, a user-friendly interface, and access to copy trading. However, there are hidden costs, inadequate instruction, and eToro does not provide the same selection of products as traditional brokers. eToro's cryptocurrency offering consists of 16 different currencies. Even though crypto costs are low, you may only withdraw your crypto assets via a specific eToro wallet.
Pricing: eToro was formed in Israel in 2006 as a financial trading technology provider, and it was an early pioneer in social copy trading. Since introducing its initial product, it has expanded to serve over 9 million members with a unique platform that is constantly evolving to become one of the largest social networks in the world, with clients in over 170 countries.
There are no costs for sending or receiving transactions on eToro. Blockchain costs apply to both sending and receiving transactions. eToro, on the other hand, charges a 0.1 percent conversion fee based on market prices. For each form of cryptocurrency, minimum withdrawal amounts and fees are also enforced. The withdrawal fee is 0.0005 units, and the minimum bitcoin withdrawal value is 0.0086 BTC.
4. The Kraken
Kraken, which was created in 2011, provides trading on 18 different cryptocurrencies, including monero (XMR), ripple (XRP), and dash (DSH). Kraken presently provides a web platform but no mobile app.
Pricing: Kraken employs a maker-taker fee structure, with pricing incentives dependent on your trading volume over the previous 30 days. For example, if a customer trades less than $50,000 per month, they will pay $2.60 in fees for every $1,000 in trading volume. Market producers pay costs ranging from 0% to 0.16 percent, while takers pay fees from 0.10 percent to 0.26 percent. This cost structure is more competitive than competitors such as Coinbase and Gemini.
5. Bittrex
Bittrex was launched in 2014 in Seattle, Washington. Despite the lack of a mobile or desktop interface, Bittrex provides over 100 tradeable currencies, including bitcoin, ethereum, and litecoin.
Price: Bittrex offers a straightforward pricing mechanism, charging a flat 0.25 percent on all trades. At this commission rate, purchasing $1,000 worth of Bitcoin would cost $2.50. (BTC). Higher-volume traders, defined as those who trade more than $25,000 per month, might use Kraken for lower pricing.
6. Gemini
Gemini, founded in 2015 by the Winklevoss twins, is a regulated digital asset exchange and custodian designed for both people and institutions. Users may use Gemini to purchase, store, and trade bitcoin, ethereum, litecoin, bitcoin cash, and zcash, as well as the Gemini dollar.
Pricing: Gemini is significantly more expensive than other exchanges, charging $0.99 - $2.99 on transactions under $200 and 1.49 percent on purchases over $200. This means that purchasing $1,000 worth of Bitcoin would cost $14.90. (BTC). Overall, Gemini is the most costly crypto exchange on our list, costing more than five times the price of the same transaction as other exchanges.
7. Robin Hood
Users of Robinhood Crypto may trade bitcoin, ethereum, bitcoin cash, litecoin, dogecoin, ethereum classic, and Bitcoin SV. A watch list can be expanded by adding ten more coins. Robinhood Crypto is best suited for individuals that trade a variety of assets. Read the entire review.
Pricing: Robinhood Crypto does not charge a commission for placing cryptocurrency transactions; instead, it earns a little profit on each order as it is routed. This routing method, known as payment for order flow (PFOF), is also how Robinhood profits on stock trades. Robinhood Crypto's user agreement specifies that they may get activity-based rebates from Crypto exchanges, brokers, and market makers, among other crypto intermediaries. Bottom line, because Robinhood's pricing structure is opaque, the all-in expenses per trade may be significantly greater than those of rivals. Unfortunately, there is no way of knowing for sure.