Posted 2 years ago | by Ben Armstrong
Binance is Closing for Americans
In September, Binance will officially be closed for Americans. Those who have not done KYC have been given the go-ahead to keep trading there... but there is no idea how long that will last. Many United States citizens who have been using Binance are wondering where they can safely move their trading activity to. While Binance has announced that they are creating an exchange that will be compliant with US regulation, there is no way to know how long that will be.
While there are many exchanges that did not make our Top 5 Crypto Exchanges for Americans list, we believe that 5 stand out from the rest. We will be doing a full in-depth review of each of these exchanges in the coming weeks, but for today we will be looking at an overview of each of the Top 5 Exchanges.
eToro has been a leader in trading in Europe for quite some time. However, it was only recently that eToro became available for American citizens. Out of every platform available, eToro has by far the best User Interface (UI). While many exchanges look like they all hired the same website designer, eToro looks phenomenal on every page.
eToro is also much more than crypto trading. However, the full features of eToro will not be available to American citizens yet. Over the next year, eToro plans to add many more features & assets.
As one of the first platforms to list ETH & XRP, it has shown that it balances traditional trading and embracing new assets. It considers itself to be a bridge from traditional trading to blockchain-powered crypto trading.
eToro only has a $50 minimum deposit. If you would like to give eToro a try, sign up for an account HERE.
While KuCoin may not be the biggest exchange out there in terms of volume, it makes up for it in its large selection of coins. While many crypto exchanges have shrunk the amount of coins they allow on their sites, KuCoin has one of the widest selections. It has a jaw dropping 206 coins according to CoinGecko.
One other great aspect of KuCoin is that it has a great staking option for many coins including IOST. You can earn dividends/rewards on tokens just for holding them on the exchange. You can also earn dividends off of the native token of KuCoin, Kucoin Shares (KCS).
If you would like to try out KuCoin, sign up for an account HERE.
3. Coinbase / Coinbase Pro
A lot of people hate on Coinbase, but the fact is it is one of the oldest exchanges and definitely one of the friendliest to newcomers to cryptocurrency. The Coinbase mobile app is bar none the best exchange app out there. And users certainly pay for the quality as it has some of the highest fees in crypto.
For the more advanced trader, Coinbase Pro offers the feel of a traditional exchange.
One thing that Coinbase is able to boast is the highest level of security out there. While it is always safer to keep your money off exchanges, Coinbase has a very sophisticated system of defense against hackers. They recently thwarted a high level phishing attack.
Try Coinbase & get $10 free with a deposit of $100 HERE.
CEX.io is also a very robust & clean exchange. Not to be mistaken with retailer CEX, CEX.io is probably the most feature rich out of all of the exchanges. It has a vast array of trading tools that makes it fit for the advanced trader. You can use live price charts and indicators on CEX.io. This is quite different than most exchanges' read-only charts.
Along with trading tools, it boasts high liquidity, high security, margin trading, and even API enabled cross platform trading. It also has a wide range of supported currencies for deposits including 4 fiat currencies (USD, GBP, EUR, & RUB) & several cryptocurrencies.
If you would like to give the trading tools of CEX.io a try, open an account HERE.
While it has been around for a while, Kraken is an exchange on the rise. Founder Jesse Powell has been a very outspoken person in the crypto space about many issues including the Quadriga CX scandal & crypto user security. Powell is probably the third most well known exchange CEO outside of CZ from Binance & Brian Armstrong from Coinbase.
Kraken has done a great job of working hard to ensure a US compliant exchange. It continues to expand its offerings and move higher up the list for exchanges that are American friendly.
Sign up for an account at Kraken HERE.
Disclaimer: Some of the links on this page are referral links that help support the BitBoy Crypto news website.