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The use of cryptocurrency exchanges continues to rise exponentially across the USA. As a result, crypto newbies and even more experienced traders are faced with a choice dilemma when it comes to selecting a suitable exchange that matches their needs. Although crypto exchanges have been ridiculed as a “single point of failure” by crypto fanatics in the past, there can not be a mass adoption without these gateways and platforms that assist users to buy, sell, and convert their crypto assets at scale. In this article, you will learn how to choose a crypto exchange in the USA, what are the best crypto exchanges, how do crypto exchanges work, and what it takes to become the best crypto exchange USA.
What Is a Crypto Exchange?
A crypto exchange is an online platform where users can trade one cryptocurrency into another (e.g. BTC to ETH) or convert cryptocurrencies into fiat (e.g. BTC to US$). Crypto exchanges operate similarly to traditional stock exchanges and forex platforms.
How Do Crypto Exchanges Work?
All crypto exchanges serve as modern marketplaces and gateways into the cryptocurrency world. However, different crypto exchanges incorporate centralized, decentralized, and hybrid forms of management into their operation. These different types could be further broken down into;
Broker Exchanges: These Crypto exchanges are beginner-friendly and easy to use. Although with significantly less functionality, these exchanges allow users to buy, sell, and exchange cryptocurrencies directly with the broker at a fixed or floating price – usually at a premium. Examples include; SwapzoneSimpleSwap, e..t.c.
Traditional Exchanges: Traditional crypto exchanges operate similarly to stock exchange platforms. They serve as middlemen who facilitate trading between buyers and sellers for transaction fees. These services offer more complex trading options and functionalities such as; spot trading, derivatives trading, simple/complex swaps, margin trading, and more. Also, traditional trading exchanges could offer peer-to-peer exchange options to their users. Examples include; Coinbase Pro, and decentralized platforms like , e.t.c.
Cryptocurrency Exchange Traded Fund (ETFs): These are hybrid institutional exchanges, that pool funds from private or public sources to securely and collectively trade cryptocurrencies. An example of such a fund is the
What are the Best Crypto Exchanges in the USA?
The USA is one of the global leaders in cryptocurrency investments, and with so many exchanges bidding for new customers, it can be tedious to tune out the noise. Below we have highlighted some of the best beginner-friendly crypto exchanges available in the USA.
launched operations in 2017 and reached more than $1million transaction volume within the same year. With more than 200 coins supported, the ChangeNOW exchange offers limitless crypto transactions. Featuring on best crypto exchange reddit, the ChangeNOW exchange website is perfect for beginners with its simple swaps and freedom of custody feature. With as low as $2, users can trade crypto and access even more complex De-Fi-based services. ChangeNOW is a trusted platform with appearances in finance publishers; Investing.comBenzinga99Bitcoins
Why should you choose ChangeNOW?
- Fast and easy crypto swaps
- Trade with as low as $2
- Access to decentralized liquidity
- Pay directly with Mastercard, Visa, and Apple pay
- Non-custodial wallets
- Beginner-friendly user interface
SimpleSwap
SimpleSwap was founded in 2018 as a compact and user-friendly crypto exchange with zero complications. Based in the United Kingdom, the crypto exchange supports over 300 coins and makes crypto trading simple, safe, and comfortable for its users. Available as both a web service and mobile app, SimpleSwap does not require users to sign up before they are allowed to trade. Users can choose between floating and fixed prices before taking any trades. Also, the exchange offers interested customers an affiliate program to earn more money.
Why should you choose SimpleSwap?
- Trade with more than 300 cryptocurrencies
- 24/7 Customer support
- Reliable services
- Beginner-friendly user interface
- Zero trading fees
- No sign-up required
LetsExchange
Founded in 2020 with its headquarters in Seychelles, LetsExchange is a fast-growing cryptocurrency broker exchange built by experts in blockchain and fintech. Relatively new, LetsExchange operates on SmartRate tech and has developed into an easy-to-use platform that shows transparency and allows users to get the best rate available on the crypto market. LetsExchange supports over 350 crypto coins and requires no registration or KYC before taking trades.
Why should you choose LetsExchange?
- Built by expert developers
- Transparent transaction process
- Fast and easy to use
- Supports more than 350 cryptocurrencies
