Cryptocurrency exchanges, like online brokerage services, allow you to buy and sell digital currencies and tokens such as Bitcoin, Ethereum, and Dogecoin.
Considering variables like supported assets, fees, payment options, and security is vita32l before selecting a cryptocurrency exchange. We considered these considerations when compiling this ranking of the top cryptocurrency exchanges.
Given the number of exchanges now accessible and the variety of features they provide, choosing the best cryptocurrency exchange for day trading in the U.S may be challenging. You should, however, find it simpler to choose the best crypto exchange for day trading after looking over our list of the greatest ones.
Key Takeaways
- 7 best crypto exchanges for day trading in the U.S.
- Answers to some of the most frequently asked questions
7 Best Crypto Exchange For Day Trading In the U.S
You must be a member of a cryptocurrency exchange that supports the cryptocurrencies you wish to trade, has all the tools you need to conduct these trades successfully, and, among other things, has reliable security measures. Given the number of exchanges now accessible and the variety of features they provide, choosing the best cryptocurrency exchange for day trading in the U.S may be challenging
This list of the top cryptocurrency exchanges for day trading may assist you in locating the finest platform for your specific needs.
1. CoinSmart
In 2022, there is no question that CoinSmart will be the most significant cryptocurrency exchange in the country. They have been investing heavily in enhancing their trading experience rather than promotion, which is why you may not have heard of them.
However, if you speak with any seasoned American cryptocurrency trader, they would all agree that CoinSmart is the greatest in the market.
Trading commissions at CoinSmart are an astonishingly low 0.20%. They provide first-rate customer service through the phone, live chat, and email, and user accounts are quickly validated.
CoinSmart allows users to trade altcoins directly (such as Chainlink with Shiba Inu), reducing fees and increasing profits. Most exchanges require users to first trade every altcoin with a stablecoin (for example, Chainklink with Bitcoin and then Bitcoin with Shiba Inu).
CoinSmart allows you to purchase actual cryptocurrency, which you may transfer on and off the exchange whenever you choose.
Features
- Incredibly minimal trading costs (just 0.20% for each deal)
- Customer service is offered by phone, live chat, or email.
- Account verification is immediate
- 16 cryptocurrencies are accepted
- Trade all cryptocurrencies directly
- Deposits and withdrawals are made right away
- Convenient for both novice and experienced traders
- Your cryptocurrency is kept extra safe by a 95% cold storage policy.
Cost
- Fees for trading: 0.20%
Ideal For
- Investors want to trade stablecoins or alternative coins at the lowest costs possible.
2. Crypto.com
In terms of exchanges, Crypto.com is a significant international player. Its support for more than 100 cryptocurrencies makes it the perfect choice for anybody wishing to buy undiscovered altcoins before the general public.
Few other cryptocurrency exchanges can compare to the unique services that Crypto.com additionally provides. Users may trade futures and options contracts, stake their coins to earn interest, and use up to 10x leverage when they are incredibly confident in a particular currency.
Trading with Crypto.com is relatively safe since they have invested much money into their site’s security. Additionally, the exchange is highly rapid (prices update several times per second), giving day traders an advantage over the rest of the market.
Features
- Include more than 100 cryptocurrencies
- Enables 10 times the leverage
- Trade cryptocurrency derivatives (futures and options contracts)
- By staking your coins, you may earn interest every day.
- Buy newly listed coins and save up to 50%
- 0.4% of each trade in reasonable trading costs
- Free bitcoin deposits throughout the board
Cost
- Fees for trading: 0.4%
Ideal For
- Investors are trying to purchase new cryptocurrencies and other cryptocurrencies before they become widely used.
3. Capital
Every user is assigned a personal account manager whom they may contact at any time by phone or email, contributing to the excellent feedback Capital’s customer service staff consistently receives.
Capital never charges fees for deposits or withdrawals; regardless of whether you use spot or limit orders, you’ll never be charged a trading commission. Capital is a very safe platform to deal with because it has earned the ISO 27001 certification for upholding strict information security standards.
The major disadvantage of Capital is that, due to the high volume of new signups, it may take several days for your account to be validated. However, if you sign up through my referral link, you may avoid the waitlist and begin trading immediately.
Features
- Zero commissions on trades
- Narrow spreads (0.1 to 0.3%)
- Include more than 100 cryptocurrencies
- Enables 500x leverage (2x leverage on crypto)
- A paper trading demo account that is fully functioning
- Debit/credit cards, bank transfers, poli, PayPal, apple pay, etc. All allow for free deposits and withdrawals.
- You can contact a dedicated account manager at any time.
- Fantastic desktop trading platform
- A highly regarded smartphone application (4.7/5 on apple and google
- With a license from the Australian securities and investments commission (ASIC) and iso 27001 certifications for exceeding the highest requirements for information security
Cost
- 0% in trading fees
- 0.1% to 0.3% in spreads
- Free deposits and withdrawals
Ideal For
- Investors were seeking a zero-commission trading environment for cryptocurrencies.
4. Coinbase
An American bitcoin exchange called Coinbase was first established in 2012. It is one of the first cryptocurrency exchanges in the world and is situated in San Francisco. Additionally, it is the second-largest cryptocurrency exchange in the world after Binance.
It served retail investors, companies, and institutions equally and was created to be one of the most precise locations to buy, sell, and exchange cryptocurrencies. It only accepted Bitcoin initially but now offers a more extensive selection of digital assets.
Features
- Include more than 100 cryptocurrencies
- The platform’s premium service, Coinbase Pro
- Coinbase Earn a collection of tools and learning materials perfect for beginners
- Using the Coinbase Wallet app, you may securely store your bitcoins.
- 98% cold storage to protect your money
- Coverage for stolen money
Cost
- 1.49% in bank account fees
- 3.99% for debit or credit cards
- Fee for Coinbase USD wallet: 1.49%
- 2% for each credit transaction
- Fee for ACH transfers: Null
- Bid-ask difference: 5% (Can vary)
Ideal For
- Investors in cryptocurrencies seek informational materials about cryptocurrencies and a broad range of supported cryptocurrencies.
5. Kraken
In 2011, Kraken, a cryptocurrency exchange and bank, was established. It is based in San Francisco, California, and lets you exchange fiat money like the USD for cryptocurrencies and vice versa. You may exchange one kind of cryptocurrency for another using it as well.
Except for Cuba, Iran, and North Korea, anybody may open an account on the exchange, making it one of the most international exchanges available today. The exchange also feeds pricing data for digital assets to the Bloomberg Terminal.
Features
- Include more than 100 cryptocurrencies
- User interface that is easy to use and intuitive
- The Kraken crypto watch function lets you monitor the cryptocurrency market.
- A wealth of tools for consumers to learn about and utilize cryptocurrency
- 24/7 customer service using different channels
Cost
- Trading commissions: 0% to 0.26% each trade
- Cryptocurrency credit card purchases: 3.75% + €0.25
- ACH cryptocurrency purchases: 1.5 %
Ideal For
- Investors in cryptocurrencies seek an exchange with a broad selection of supported stablecoins and altcoins.
6. Binance
Binance is currently the world’s largest cryptocurrency trading platform by daily trading volume, a global cryptocurrency exchange. It started operating in 2017 and has its main office in the Cayman Islands.
Despite being established in Hong Kong, Binance eventually relocated its corporate headquarters owing to rising government involvement in the cryptocurrency market. It contains several distinguishing features, such as solid charting tools, access to the Binance Earn function, and a Binance Visa Card.
Features
- Enables more than 300 cryptocurrencies
- Include more than 50 fiat currencies
- Binary earn function
- Visa for binance
- Modern charting software
- Use the local currency of the exchange to receive cheaper costs (Binance Coin)
Cost
- Fee-free cryptocurrency deposits
- Deposit costs for Fiat: 0% to 3.5%
- Cryptocurrency withdrawal costs: 0% to 2,5%
- Taker charges: between 0.04 and 0.1%
- Maker commissions: 0.02 to 0.1%
- Futures maker commissions: 0.02%
- Taker costs for futures trading: 0.04%
- Instant trade commissions: 0.5 percent
- Credit/debit card purchases: 4.5 percent
Ideal For
- Investors who are interested in relatively unheard-of alternative currencies.
7. Gemini
Gemini also allows consumers to view and authorize devices linked to their trading accounts and encourages them to utilize two-factor authentication to protect their accounts. Gemini’s SOC 2 accreditation as a security leader signifies that the organization’s security and compliance frameworks have been validated by independent auditors.
Gemini, designed with skilled traders, provides a high-quality trading dashboard and supports over 100 digital currencies and tokens. Users may use bitcoin to buy items and services through Gemini, which also offers a cryptocurrency reward card.
Gemini’s leading and active trader platforms’ pricing structures vary. The principal platform charges a high 1.49% on deals above $200 and set sums for lesser trades. Maker-taker fees on the active trading platform may be as high as 0.4%, although they decrease as your volume increases. These are also relatively expensive. Nevertheless, paying the very hefty charge might not be too expensive, given Gemini’s solid security.
Features
- Users in all 50 u.s. States can access it
- An exchange that is quite liquid
- Protects the money in a heated wallet
- Dependable security measures
- Leading-edge cold storage
Cost
- Fixed cost for transactions under $200, 1.49% for trades above $200, and 3.49% for purchases made with a debit or credit card
Ideal For
- Investors who are interested in relatively unheard-of alternative currencies.
Read Also:
Top 10 Chinese Crypto Exchanges in 2022
How to Exchange USDT to BTC – An Easy Step by Step Guide
Is Huobi Global Safe? Huobi Exchange Review, Pros, and Cons
Conclusion
To start trading or to invest in cryptocurrencies, you must choose the best exchange for your specific needs. You can choose whether you want to trade an extensive range of digital assets, pay the lowest costs, or have the best mobile trading experience.
We determined that Crypto.com is the best alternative for trading on mobile devices, which are getting more popular. Kraken is an excellent option for experienced traders and those looking for low prices.
Cash App provides everything Bitcoin-focused traders need, but Bitmart is our pick for anyone looking to trade a more comprehensive range of altcoins. Consider your aims and main priorities while choosing the exchange that best matches your needs.
FAQS
Can You Day Trade Crypto In The USA?
This is crucial when choosing the best platform because US-based traders can only utilize domestically regulated crypto-trading platforms. When picking the best platform to purchase and sell cryptocurrency, traders prioritize exchange liquidity, asset liquidity, and costs.
Which Crypto Exchange Is Best In The USA?
The most well-known and prosperous cryptocurrency exchange established in the United States, Coinbase provides a very user-friendly interface and trading environment. Coinbase, a San Francisco-based company founded in 2014, is a fantastic option for novice traders and seasoned investors.
Is Coinbase Good For Day Trading?
In the realm of investment, Coinbase is renowned for charging more outstanding fees to its users. These costs will undoubtedly make it challenging to turn a profit if you choose to day trade smaller deals. If you play your cards well, you may more than make up the costs for larger trades in profits.
How Much Money Do Day Traders With $10000 Accounts Make On Average Daily?
The average annual wage for day traders in the United States is $116,895, or $56 per hour. The least 10% earn less than $68,000 annually, while the highest 10% earn over $198,000 annually.
Can I Use KuCoin In The U.S.?
Due to KuCoin’s lack of U.S. licensing, consumers in this country should look into alternative exchanges. For cryptocurrency exchanges, negative customer evaluations are usual, but KuCoin’s user reviews are terrible.
Is Kraken Better Than Coinbase?
In terms of fees, Kraken comes out somewhat ahead. Compared to Coinbase, it offers more coins for staking at more excellent rates. To gain incentives, you must stake your cryptocurrency for a predetermined period. With Kraken, more coins are accessible for staking and better interest rates.
Is Binance Better Than Coinbase?
While Coinbase is designed for simple, straightforward trading, Binance is a better match for consumers who are familiar with bitcoin terminology and investment opportunities. Both exchanges provide mobile applications with various features.
You can learn more from the video below:
About Author
- I am a professional article and e-book writer with 4 years of experience, I write on well research content on cryptocurrency, stocks, loans and finances.
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