Best crypto exchange USA: 4 picks for US residents

The best crypto exchange in the USA for most residents outside New York is Kraken: Kraken Pro charges 0.40% maker and 0.80% taker at its entry tier, the lowest of the US exchanges we checked, under FinCEN registration and state money transmitter licences. New York residents should look at Coinbase, which holds a New York BitLicense, or Gemini, a NYDFS-regulated trust company.

We checked licences, fee schedules and regulatory records on 23 October 2026. We haven’t opened US accounts ourselves. Cryptocurrency is volatile, and investors can lose all the money they put into it.

How we chose the best crypto exchange for US residents

We looked first at whether a cryptocurrency exchange shows US licences or registrations in our data, then at the fee structure and what a $100 or $1,000 bitcoin order costs, then at its track record. An exchange only made the list if our provider file shows it serves US users.

That leaves four picks. We read each company’s licence disclosures, fee schedule and regulator filings, and noted where data is thin. Two gaps matter: we didn’t verify availability state by state, and we didn’t check US bank transfer or card funding fees except at Gemini.

• Licence and compliance: federal registration with FinCEN, state money transmitter licences and, for New York, a BitLicense or trust charter.
• Fees and transaction costs: maker and taker fees on the trading platform, plus the cost of simple app buys where it’s published.
• Track record: settlements, fines, hacks and data breaches in our files.
• Custody: proof of reserves, cold storage and how customer assets are held.

The best crypto exchanges for US residents

These four crypto exchanges cover most needs of US investors and traders: low fees, New York access, regulated custody of digital assets and a mobile app with a card. Each comes with a catch you should weigh before you open an account.

1. Kraken: best overall for US residents outside New York

Kraken has the lowest order-book fees of our US picks and a long record: it was founded in 2011. US users are served by Payward Interactive, Inc., which holds a FinCEN money services business registration and state money transmitter licences. Kraken’s US licence list doesn’t include New York.

Kraken Pro charges 0.40% maker and 0.80% taker at the entry tier, with lower rates as 30-day trading volume grows. The simple Kraken app charges 1% on direct and recurring buys (1.5% on custom orders) plus a variable spread, and Kraken+ members pay no app trading fee on up to $10,000 a month, though the spread still applies. Kraken’s public API shows more than 600 crypto assets, and Kraken supports USD alongside six other fiat currencies, so you can buy and sell digital assets against the dollar.

On security, Kraken publishes a Merkle-tree proof of reserves checked by an independent accountant, with the latest snapshot on 30 June 2026. A bitcoin withdrawal costs 0.000015 BTC. We didn’t verify whether margin trading is open to US accounts.

The catch: its US record. Kraken paid $362,159 to OFAC in 2022 over Iran sanctions, and $30 million in 2023 to settle SEC charges over its US staking programme, which it ended for US clients. A separate 2023 SEC lawsuit was dismissed with prejudice in March 2025. Read our Kraken review and the Kraken fee breakdown.

2. Coinbase: best for New York residents and beginners

Coinbase is the simplest large cryptocurrency exchange that New Yorkers can use, and it suits casual investors who want to trade crypto through simple buys. Coinbase, Inc. holds New York BitLicense 122466 plus state money transmitter licences, and Coinbase Derivatives, LLC is registered with the CFTC as a designated contract market. The company has been listed on Nasdaq since April 2021 and publishes quarterly financial statements, audited annually.

Simple buys add a spread to the quoted price plus a Coinbase fee that varies by payment method and order size; both appear in the order preview. Coinbase Advanced, the Coinbase exchange for order-book trading, starts at 0.60% maker and 1.20% taker. Coinbase One, a subscription, removes simple-trade fees within limits, but the spread still applies. Standard staking commission is 35% of rewards for assets such as ETH, SOL and ADA.

The catch: costs and record. Coinbase’s entry fees are higher than Kraken’s, and it publishes no Merkle-tree proof of reserves. It agreed a $100 million settlement with NYDFS in 2023 over AML and KYC failures, and in 2025 criminals bribed offshore support staff to obtain data on about 69,000 customers. The SEC dismissed its 2023 lawsuit in 2025. Compare it in Coinbase vs Kraken or read the Coinbase review.

3. Gemini: best for a NYDFS-regulated custodian

Gemini suits security-focused users who want their digital assets held by a New York regulated trust company. Gemini Trust Company, LLC is a NYDFS-supervised limited purpose trust company and qualified custodian, with offline cold storage, geographically distributed hardware security modules and SOC 1 and SOC 2 examinations. The New York company listed on Nasdaq as GEMI in September 2025.

ActiveTrader fees start at 0.60% maker and 1.20% taker and fall to 0.40%/0.80% from $10,000 of 30-day volume and 0.25%/0.50% from $25,000. Instant and recurring orders include a spread plus a fee that Gemini’s annual report puts at around 1% above market price. Buying with a debit card costs 3.49% and PayPal 2.50%. Gemini lists 65+ assets, far fewer than Kraken or Coinbase, so check it supports the coins you want; its CFTC-registered Gemini Titan also runs prediction markets.

The catch: Gemini Earn. Genesis, its lending partner, froze withdrawals in November 2022, locking Earn users’ assets until May to June 2024. NYDFS imposed a $37 million penalty plus a $40 million contribution to Earn users, and a New York Attorney General settlement required about $50 million more. We found no proof-of-reserves attestation. See our Gemini review and Coinbase vs Gemini.

4. Crypto.com: an app with a card, but check your state

Crypto.com is an app-first crypto platform for cryptocurrency trading, a card and staking, and our data shows US users are served by its US entities. The SEC closed its investigation in March 2025 without enforcement action, after a 2024 Wells notice and a lawsuit Crypto.com filed against the SEC.

Here our data is thin. We couldn’t verify which US licences Crypto.com holds, its US fee schedule or the liquidity of its US markets, so check them for your state before you sign up. Its derivatives exchange is geo-restricted in the US.

The catch: in 2022, attackers bypassed two-factor authentication on 483 accounts and withdrew about $34 million; Crypto.com said affected users were reimbursed. Its proof of reserves rests on a Mazars-verified snapshot from 7 December 2022, with no newer attestation shown.

Quick comparison of the best cryptocurrency exchange picks

Kraken wins on fees, Coinbase and Gemini on New York access, and Gemini on custody set-up. The table uses only facts from our provider files, checked on 23 October 2026; Kraken’s and Coinbase’s asset counts come from global and EU listings, so US lists may be shorter.

Crypto trading fees in the US: a worked example

A $1,000 market order costs $8.00 in fees at Kraken Pro and $12.00 at Coinbase Advanced or Gemini ActiveTrader at the entry tier. Limit orders cost half that, because maker fees are lower than taker fees.

How we worked it out: entry-tier fees on 23 October 2026, with no spread or funding costs included. Simple app buys cost more. Kraken’s app adds 1% plus a spread, so $100 costs at least $1.00; Gemini’s instant orders carry a fee of around 1% plus a spread; Coinbase shows its spread and fee in the order preview. Coinbase’s Advanced rates come from a published copy of its in-app table.

Your payment method matters too. At Gemini, a debit card adds 3.49% and PayPal 2.50%, so a $100 debit card buy adds $3.49 before any trading fee. For regular bitcoin trading, limit orders keep transaction costs lowest, and fees fall as your 30-day trading volume grows.

Licensing, state availability and cold storage

US crypto exchanges typically register at federal level and hold licences state by state, and New York has its own regime. That’s why availability can differ by state: Kraken’s licence list leaves out New York, while Coinbase and Gemini are regulated there.

Federal registration and state licences

At federal level, Kraken’s US company is registered with FinCEN as a money services business. Money transmitter licences are issued state by state, and New York’s regulator, NYDFS, supervises Coinbase through BitLicense 122466 and Gemini through a trust charter. The CFTC registrations in our data cover derivatives at Coinbase Derivatives, LLC and prediction markets at Gemini Titan, LLC.

Registration is not investment protection. A licence sets rules for compliance and custody, but it won’t pay you back if crypto prices fall.

Custody and cold storage

Cold storage means keeping private keys offline, away from internet-connected systems. Gemini describes offline cold storage, distributed hardware security modules and multi-party computation, and Coinbase states it holds customer assets 1:1.

Even so, an exchange account is not a bank account, and crypto isn’t cash. Hacks and failures are a real risk: Crypto.com lost about $34 million in 2022, and Gemini Earn users waited until 2024 for their funds. Secure your account with two-factor or multi factor authentication and move larger amounts to your own digital wallet.

Exchanges US residents can’t use, or that we haven’t reviewed

Several large cryptocurrency exchanges don’t serve US residents, according to their own terms or our provider files. Other cryptocurrency exchanges run separate US companies that we haven’t reviewed.

• Binance: Binance.com doesn’t serve US residents. Binance.US is a separate company that we haven’t reviewed. Binance pleaded guilty in the US in 2023 to anti-money-laundering and sanctions violations and agreed to pay about $4.3 billion.
• OKX: US users are served by a separate OKX US platform launched in April 2025, which we haven’t reviewed. OKX’s global operator, Aux Cayes FinTech, pleaded guilty in the US in February 2025 and agreed to pay about $504 million.
• KuCoin: the US is on its restricted list. Its operator pleaded guilty in the US in January 2025 and agreed to pay nearly $300 million.
• Bybit, Bitget and MEXC: Bybit excludes US persons, Bitget lists the US as a prohibited country, and MEXC’s terms exclude the US.
• Gate: Gate’s global platform lists the US as restricted, and Gate EU only serves the EEA. US residents are served by a separate company, Gate US, Inc., which lists licences in 35 states and doesn’t operate in New York or Texas; we haven’t reviewed it.
• Bitvavo: not available to US residents.

Traditional brokerage apps such as Fidelity Crypto and Robinhood also let you trade bitcoin in the US. We haven’t reviewed Fidelity Crypto or Robinhood, so they’re not ranked here.

Centralized exchanges versus a decentralized exchange

All four picks are centralized exchanges: a company holds your crypto, verifies your identity and matches buy and sell orders. A decentralized exchange (DEX) runs on blockchain technology: you swap tokens directly from your own digital wallet through smart contracts, with no account and no company holding your funds.

That freedom shifts the risk to you. On a decentralized exchange you manage your own private keys, pay network fees on each swap and can lose funds to a faulty smart contract, with nobody to call. DEXs can also be misused: OKX suspended its DEX aggregator in March 2025 after detecting misuse by the Lazarus group. For most US beginners, a licensed centralized exchange is the easier first step.

How to buy bitcoin on a US cryptocurrency exchange

Buying bitcoin on any of our picks follows the same route: verify your identity, fund the account, place an order and decide where to store your coins.

1. Open and verify an account. Gemini requires full identity verification to trade and withdraw, and Kraken’s funding limits depend on your verification level.
2. Connect a bank account. At Kraken, the name on the bank account must match your Kraken account.
3. Place an order. A market order fills at once at the taker fee; a limit order waits at your price and pays the lower maker fee.
4. Choose your storage. Leave small amounts on the exchange, or withdraw bitcoin to a wallet you control.

How to choose the right crypto exchange

The right crypto exchange depends on where you live in the US, how often you trade and how much you want to hold yourself. There is no right platform for everyone, so use these rules of thumb:

• You live in New York: Coinbase or Gemini, both regulated there.
• Active traders who want low fees: Kraken Pro, at 0.40% maker and 0.80% taker.
• You want regulated custody first: Gemini’s trust company, accepting higher fees and fewer assets.
• You mainly want an app and a card: Crypto.com, after checking its licence and fees for your state.

Taxes are your own responsibility. Keep a record of all transactions, including every buy, sell and swap, and ask a US tax professional how your crypto investment is taxed. Our United States country page has more background on US rules.

Our verdict: the best crypto exchange USA residents can use

Kraken is the best crypto exchange in the USA for most residents outside New York: the lowest entry fees of our picks, 600+ assets and a proof of reserves dated 30 June 2026. Its weak spots are New York, which isn’t on its licence list, and its US settlements in 2022 and 2023.

New Yorkers have Coinbase for simplicity and Gemini for regulated custody, both at higher fees. Licences and state coverage change, so check the exchange’s own licence page for your state before you deposit money, and only invest in cryptocurrency what you can afford to lose.