10 Best Bitcoin Exchanges in the USA in 2023

If you’re looking to buy Bitcoin in the US through exchanges, Coinbaseis one of the biggest brands trying to receive full financial regulation across the country. There’s a lot more to this site, too. Firstly, as outlined in our Coinbase review, this site is based in San Francisco which already means it operates under the guidelines of at least one US state.

The company has grown to become the largest cryptocurrency exchange in the world. Today, users can buy Bitcoins for as little as $1 using a variety of payment methods, including credit/debit cards and bank transfers. However, what novices will really appreciate is the site’s design. Coinbase is extremely user-friendly. When you couple this with multiple layers of security and the fact our Coinbase sign-up link entitles you to $10 free, it’s easy to see why this company now has 20 million active customers.

Advantages of Coinbase

• Get a $10 bonus with our link
• Based in the US and can deposit in USD
• Largest trading volume

Disadvantages of Coinbase

Coinbase may be the biggest Bitcoin exchange in the world, but Coinmama is available in more countries. In fact, when we carried out our Coinmama review, the total count was over 180. The US is one of them, which means you can join Coinmama to buy Bitcoin in the US and get instant access to some of the best trading limits available. Indeed, the reason this site has become popular with active traders is that is has a default buying limit of $50,000. To put this into perspective, many of the largest Bitcoin exchanges in the US only allow you to trade a few thousand dollars in a 24-hour period.

For those with large bankrolls and itchy feet, this means you can trade at a high level without having to wait for your account to be verified – so can take advantage of positive market conditions without getting held up by red tape. You can also make cash deposits. Thanks to the Western Union payment option, you can take cash to your nearest applicable vendor and credit the funds to your online account. If you value anonymity or simply don’t want to hand over your bank details, this is fantastic.

Advantages of Coinmama

• A solid presence in 180+ countries
• Make cash deposits in USD
• High trading limits

Disadvantages of Coinmama

• Charges up to 12%
• You can’t sell your coins

Did you know that not all Bitcoin cryptocurrency exchanges in the US take place online? If you prefer to do business face-to-face, there are ways to get active in a way that suits you. Thanks to LocalBitcoins.com, you can choose the way you want to buy Bitcoins in the US. As we’ve noted in our LocalBitcoins review, the process is simple: You create an account, scroll through a list of sellers in your area, find the best rate and then make contact. Once you’ve reached an agreement on how you’re going to pay (cash, bank transfer, altcoins etc), that’s it.

As you’d expect, there is a certain amount of risk involved in these transactions, simply because everyone is different. However, when you register with LocalBitcoins, you’re given as much protection as possible. After that, it’s up to you to vet each seller. If you’re happy with their reputation and feel safe, everything should be fine. For us, the best reason to use LocalBitcoins is that it allows you to pay in a way that suits you. Unlike the other big brand exchanges in the US, LocalBitcoins is more of a middleman. In other words, it simply connects buyers and sellers so they meet up and swap Bitcoins in any way they choose.

Advantages of LocalBitcoins.com

• Lots of sellers to choose from
• Pay in a way that suits you
• Easy to use interface

Disadvantages of LocalBitcoins.com

• Rates will vary
• You can only buy Bitcoin
• Some sellers can be unreliable

To become one of the best exchanges in the US, it helps to be based in the US. It’s not a requirement, but if you’re within the country’s borders, it’s a lot easier to serve local customers. So it’s little surprise that we’ve put Paxful in our top five US-based Bitcoin exchange list. Other than New York, Paxful is active in every US state (something we’ve noted in our Paxful review), so you shouldn’t have any issues getting some coins wherever you live.

To become one of the best exchanges in the US, it helps to be based in the US. It’s not a requirement, but if you’re within the country’s borders, it’s a lot easier to serve local customers. So it’s little surprise that we’ve put Paxful in our top five US-based Bitcoin exchange list. Other than New York, Paxful is active in every US state (something we’ve noted in our Paxful review), so you shouldn’t have any issues getting some coins wherever you live.

Advantages of Paxful

• More than 10,000 BTC sold in the US
• Huge selection of payment options
• Trade with real people

Disadvantages of Paxful

• Only sells Bitcoins
• Only for buying/selling, not trading

Among our top-rated exchanges in the US, Poloniex stands as one of the few true cryptocurrency platforms. This isn’t to say the other sites are imposters. What we mean is that Poloniex not only offers a traditional exchange setting but also listings for dozens of cryptocurrencies. In fact, this site provides buying/selling options for over 70 coins.

In addition to its trading options, we’ve noted in our Poloniex review that the company is registered with the Financial Crimes Enforcement Network (FinCEN) as a money service business (MSB). This means you’re afforded a high level of protection when you use our link to create a Poloniex account. If that’s not enough, the site has some of the lowest transaction fees in the industry and the customer support is some of the best we’ve seen.

Advantages of Poloniex

• Low fees
• Speculate on emerging altcoins
• One of the few regulated exchanges in the US

Disadvantages of Poloniex

• Can’t deposit using fiat currency
• The site can be unreliable

Technically, Bitcoin exchanges don’t have to be regulated in the US. However, as is often the case in the US, there is a tangled web of red tape around various parts of the industry. Why is that? Because different states and government departments have their own opinions on cryptocurrencies, blockchain technology, ICOs and exchanges in the US. In fact, because the political and legal systems in the US are more piecemeal than other parts of the world, there isn’t yet (and there isn’t likely to be) a blanket form of regulation.

Having said this, at the start of 2018 there were some provisions in place.  From the Internal Revenue Service (IRS) point of view, Bitcoin and its cryptocurrency peers should be treated as property. In other words, if you buy and/or sell Bitcoin or altcoins using one of the leading exchanges in the US, you will have to record your profits and losses. Anything you make above what you invested will be treated as a capital gain and taxed at the appropriate rate.

In the same way that some British banks have banned credit card payments to UK Bitcoin exchanges, a selection of US companies has done the same. As per reports from Coinbase in February 2018, credit card users from JPMorgan Chase, Bank of America, Citi and Capital One were all excluded from making purchases.

Despite the setback, Coinbase and the other leading Bitcoin exchanges in the US moved to reassure customers that other payment options were still available. In fact, even for those banking with the brands listed above, debit cards and bank transfers are still permissible. What’s more, by using a platform such as Paxful or LocalBitcoins, it’s also possible to pay using a service like PayPal or cash.