Why are some crypto exchanges not available in the United States? Kraken offers support for more than 185 cryptocurrencies including BTC, ETH, and ADA. Kraken trading fees range between 0.16% and 0.26% for traders with less than $50,000 in monthly trade volume. ![]() Kraken requires government-issued ID and address verification for US-based traders. The services provided to US traders by Kraken include all of the trading options made available to international traders, with the exception of EUR trading pairs or deposits for residents of New Hampshire or Texas. You can access your Kraken account through the web and through the official Kraken mobile app.Īt this time, Kraken can be accessed in all US states apart from Washington State and New York. Unlike Coinbase, Kraken is primarily focused on experienced crypto traders and offers complex trading services such as margin trading. Kraken is one of the longest-running cryptocurrency exchanges in the United States, and offers a relatively straightforward approach to cryptocurrency trading. Gemini offers more than 90 supported cryptocurrencies including BTC, ETH, and SOL. The more crypto you are buying/selling, the lower your fees. Fees for takers range between 0.03% - 0.35%. ![]() Gemini’s fees for makers range between 0.00 - 0.25%. Gemini enforces stringent ID verification requirements, demanding government-issued photo ID, address verification with a utility bill less than 90 days old, and a selfie image. Gemini is currently the custodian of over 1 percent of the world’s total Bitcoin volume, and is subject to New York banking law - making it the most secure option for US-based crypto traders. Launched by the Winklevoss brothers in 2014, Gemini is a highly regulated crypto exchange platform that works closely with regulators in order to ensure compliance - which can make the Gemini verification process somewhat complicated.Īll USD deposits made to Gemini are FDIC insured, which makes Gemini an attractive option for large-scale crypto traders and institutional traders. Geminiis one of the few US-based exchanges that are fully compliant with NY state law. Tether, however, is not supported by Coinbase - US Coinbase users are provided with USDC as a USD-pegged stablecoin instead. Supported cryptocurrenciesĬoinbase supports a diverse range of 200+ cryptocurrencies including BTC, ETH, DASH, EOS, LINK, XRP, and many more. The fees are offset by the high level of security that Coinbase offers. Coinbase doesn’t offer the most competitive fees in the market today, with taker fees between 0.05% and 0.60% and maker fees from 0% up to 0.40%. US residents will need to provide a valid government issued ID when verifying an account with Coinbase in addition to a selfie image. Fiat assets held on Coinbase are FDIC-insured, which means fiat currency deposited on the Coinbase platform by United States residents is insured up to a maximum of $250,000. In addition to protecting user funds, Coinbase actively prevents users from sending cryptocurrency to known scam addresses, providing newer traders with an extra layer of protection. Importantly, Coinbase has never suffered from a major cryptocurrency hack and has a strong security record. Coinbase is the most popular and successful cryptocurrency exchange based in the United States, and offers an extremely user-friendly UI and trading experience.
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