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Cryptocurrency emerged as a new asset class in recent years and is here to stay. To buy cryptocurrency, you need to open an account with a crypto exchange. There are hundreds of exchanges available in the world. However, to operate in the U.S., the exchanges need to register as money service businesses (MSBs) and get licensed to operate in specific states. The U.S. is cracking down on unregulated exchanges and will continue to ramp up its efforts.
The StartupHoncho team has conducted independent research and recommends the following list of regulated crypto exchanges in the US for both beginners and experienced investors.
Honcho Ratings
| Exchange | Honcho Rating | # of Coins Available | Fees | Beginner Friendly? | Learn More |
|---|---|---|---|---|---|
 Kraken | 5.0 | 120+ | 0.9% for stablecoins, 1.5% for other cryptos | Yes | Learn MoreOn Kraken’s Website |
 Crypto.com | 5.0 | 250+ | 0.4% Maker 0.4% Taker | Yes | Learn MoreOn Crypto.com’s Website |
 eToro | 5.0 | 65 | 1% Flat | Yes | Learn MoreOn eToro’s Website |
 Coinbase | 5.0 | 150+ | 1% Flat | Yes | Learn MoreOn Coinbase’s Website |
 Binance | 4.5 | 100+ | 0.1% Maker 0.2% Taker | No | Learn MoreOn Binance’s Website |
 FTX US | 4.5 | 55 | 0.1% Maker 0.2% Taker | No | Learn MoreOn FTX’s Website |
 Bitfler US | 4.5 | 5 | 0.1% Maker 0.1% Taker | Yes | Learn MoreOn Bitflyer’s Website |
 OKcoin | 4.0 | 75 | 0.1 Maker 0.2 Taker | Yes | Learn MoreOn OKcoin’s Website |
 MEXC | 4.0 | 200+ | 0.2% Maker 0.2% Taker | No | Learn MoreOn MEXC’s Website |
OUR TOP PICK
Kraken
5.0
On Kraken’s Website
Quality
Excellent
Usability
Excellent
Value
Excellent
Quick facts
- Trading Fees: Flat 0.9% for stablecoins, 1.5% for other cryptos
- Tradable Coins: 120+
Kraken was founded in 2011, one of the oldest crypto exchanges in the U.S. It has a solid selection of 120+ coins, competitive trading fees, and also offers margin trading and futures trading. The exchange has 2 trading platforms: Kraken and Kraken Pro. Experienced users can get volume discounts and lower maker-taker fees using Kraken Pro.
- Advanced trading tools available on Kraken Pro
- Relatively low withdrawal fees
- Only accepts a few fiat currencies
- Not available in all 50 states (unavailable in Washington & New York)
BEST VARIETY OF COINS
Crypto.com
5.0
On Crypto.com’s Website
Quality
Excellent
Usability
Excellent
Value
Excellent
Quick facts
- Trading Fees: 0.4% Maker, 0.4% Taker
- Tradable Coins: 250+
Crypto.com offers an extensive selection of 250+ coins and advanced trading tools such as limited margin trading for experienced investors. It also offers unique rewards for its Visa Card users.
- As much as 8% cash back on Crypto.com Visa debit card spending
- Strong brand recognition in the U.S. and more choices of coins
- Relatively high fees if low trading volumes
- Not available in all 50 states (unavailable in New York)
BEST FOR BEGINNERS
eToro
5.0
On eToro’s Website
Quality
Excellent
Usability
Excellent
Value
Excellent
Quick facts
- Trading Fees: 1% flat
- Tradable Coins: 65
eToro entered the U.S. market in 2018 by offering 10 cryptocurrencies and has gradually increased the selection of coins. Besides cryptocurrency, it also offers a limited selection of stocks and exchange-traded funds (ETFs).
- Platform also offers stocks and ETFs
- Relatively high fees and limited selection of coins
- Unavailable in Hawaii, Minnesota, Nevada, New York
BEST USER REVIEWS
Coinbase
5.0
On Coinbase’s Website
Quality
Excellent
Usability
Excellent
Value
Excellent
Quick facts
- Trading Fees: 1% flat
- Tradable Coins: 150+
Coinbase was founded in 2012, the second largest crypto exchange in the world and one of the oldest crypto exchanges in the U.S. It has a solid selection of 150+ coins and a user-friendly interface which will suit the needs of most beginners.
- The simplest user-friendly interface and purchasing experience
- Biggest market share and best user reviews in the U.S.
- Relatively high fees and fewer choices of coins
- Not available in all 50 states (unavailable in Hawaii)
BEST FOR ADVANCED TOOLS
Binance US
4.5
On Binance’s Website
Quality
Excellent
Usability
Good
Value
Excellent
Quick facts
- Trading Fees: 0.1% Maker / 0.2% Taker (Tier I Fees)
- Tradable Coins: 100+
Binance.US is the subsidiary of the world’s largest crypto exchange. It offers super competitive trading fees: 0 for Tier 0 trades (BTC/USD, BTC/USDC, BTC/USDT, and BTC/BUSD. 0.1% Maker Fee / 0.2% Taker Fee for Tier I (Ethereum, Solana, etc), 0.60% taker/0.40% maker fee for Tier II (Cardano, Polkadot, etc).
- Lowest fees in the industry
- Less beginner-friendly user interface
- Unavailable in Hawaii, New York, Texas, Vermont
BEST FOR MARGIN TRADING
FTX US
4.5
On FTX’s Website
Quality
Good
Usability
Excellent
Value
Excellent
Quick facts
- Trading Fees: 0.1% Maker and 0.2% Taker if past 30-day volume < $10K
- Tradable Coins: 55+
FTX US is the subsidiary of world’s third largest crypto exchange. It offers very competitive fees and advanced margin trading.
- Very low fees and advanced order options
- Fewer choices of coins and less beginner-friendly interface
- Unavailable in New York
BEST FOR LOW FEES
Bitflyer US
4.5
On Bitflyer’s Website
Quality
Excellent
Usability
Good
Value
Excellent
Quick facts
- Trading Fees: 0.1% Maker, 0.1% Taker
- Tradable Coins: 5
bitFlyer USA is the subsidiary of the biggest cryptocurrency exchange in Japan founded in 2014. It only offers 5 cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin, but with the lowest fees in the industry.
- Lowest fees in the industry
- Available to trade in Yen
- Only 5 cryptocurrencies are available and no crypto-to-crypto pairs
- Unavailable in CA, Colorado, Indiana, Kentucky, Maryland, Michigan, Missouri, Montana, Utah, Wisconsin
BEGINNER FRIENDLY
OKcoin
4.0
On OKcoin’s Website
Quality
Good
Usability
Good
Value
Excellent
Quick facts
- Trading Fees: 0.1% Maker and 0.2% Taker if 30-day trading volume < $10K
- Tradable Coins: 75
OKcoin USA is owned by OKcoin, one of the oldest crypto exchanges founded in 2013. It offers very low fees, a decent selection of coins, a user-friendly interface, and some advanced charting tools.
- Very low fees
- Beginner-friendly interface
- Unavailable in Hawaii, Indiana, Louisiana, Nevada, New York, West Virginia
LOW FEES
MEXC
4.0
On MEXC’s Website
Quality
Good
Usability
Good
Value
Good
Quick facts
- Trading Fees: 0.2% Maker, 0.2% Taker
- Tradable Coins: 200+
MEXC Global, founded in 2018, is licensed to operate in the U.S. It offers a wide range of 200+ coins and sophisticated trading tools such as options, futures, and ETFs with leverage. However, if you KYC to increase your limits, then you won’t be able to use its launchpad.
- Low fees, a wide selection of coins, and advanced trading tools
- Available to trade in multiple fiat currencies
- State-level license and regulatory compliance is unclear
