5 Top Cryptocurrency Brokers in the US: Best Guide for Beginners!!

Did you know 10-year-olds know more about the latest cryptos than young adults today? That’s how popular cryptos are in the US. But anybody with basic crypto knowledge knows that it is better to start trading through brokers in the crypto domain. Let’s find out about Top cryptocurrency brokers in the US.

A recent study at the Pew Research Center found something that would get you digging. 61% of Americans have stashed crypto at least once in their lifetime. Out of them, 17% deal in crypto actively.

Hooked? Wait, there’s more to know. Crypto is attracting more institutional investments this year than ever. According to CoinMarket’s stats, there are over 250 exchanges, each with a 24-hour volume of $2.86 trillion. You can certainly understand how much institutional investment is going into crypto.

With more mainstream acceptance, crypto will soon be one of the leading investment options.

Importance of selecting the right cryptocurrency broker

Brokers have a special license to buy and sell securities, including crypto. So, you need a broker without a question. Beginners can get the most help from them. They can suggest simple and user-friendly platforms. So, you can start trading without any stress.

Brokers also offer market analysis and easy educational resources that help you better understand crypto and choose the best cryptocurrency to invest in USA easily. Some effective Forex brokers may help you deposit and withdraw Bitcoin through platforms like AvaTrade, Plus500, and eToro.

Starting from a platform user guide to advanced trade assistance, the right crypto broker can work wonders for you.

Current Cryptocurrency Market Trends in the USA

The US crypto market is profusely growing. What does that mean for you? Two years ago, it was valued at $ 1.19 billion. If it grows at a CAGR of 12% in the next 5 years, there will be bountiful new brokers in the arena.

So, you must choose a good broker at a reasonable fee and start your crypto journey TODAY! Get going before the market becomes saturated. Another stark development is that 40% of institutional investors actively scan crypto opportunities. Contact your broker today to learn about the USA’s Best cryptocurrency to invest in.

Key factors influencing cryptocurrency prices

Crypto prices are one hot topic to debate at every investor’s desk. Indeed, crypto prices vary overnight, even hourly. But what causes such price turbulence? The SEC and IRS set crucial parameters for crypto trades. However, that differs from one crypto to another.

For example, the upper position limit for BTC, ETH, DOGE, SHIB, PEPE, and others is $50,000,000 per crypto. For other emerging cryptos, the limit is $20,000,000.

At the same time, the US FinCEN conducts random crypto trade values and volumes, especially for transactions between people and entities. Experts say- such steps can “prevent black marketing of crypto.” However, our organic research shows that supply and demand are the two prime factors dictating crypto prices.

On the other hand, the Top Cryptocurrency Brokers in the US have a prime role in moderating supply and demand.

Now, let’s check how the rest of the world reacts to crypto. Firstly, the global crypto market is bullish, and investors are highly receptive. Hence, 30% of the active global investors took no time to realize that Bitcoin and Ethereum don’t have much more runtime now.

Once saturated they won’t yield much incremental price difference. That’s why people, on average, are shifting to DogeCoin, Cardano, XRP, and others. The worldwide market is, however, growing at a 7.77% CAGR. Till 2029, the same will be held.

Criteria for Choosing the Best Cryptocurrency Broker

Check out these characteristics. Find the best broker that could help you. Build a sustainable financial dashboard. Read all parameters in detail.

Market capitalization

Market cap measures how popular crypto is. Are you into crypto or aiming for its long-term growth? Choose the crypto coins that have long-term growth potential. Now, the question is how it affects the stability and liquidity of the crypto stock.

There is enough scope for crypto to grow when the market cap is low. In the meantime, it will be more volatile as it grows and gets a thriving market to spread.

Technology and use case

The Top Cryptocurrency brokers in the US use automated market markers. These are technical programs generating liquidity through user funds. They also determine the fair price of crypto stocks through different algorithms.

Brokers good at blockchain can decode ledgers shared across the nodes of a computer network. They play pivotal roles in cryptocurrency systems.

When a crypto is traded through popular brokers, it gets the leverage to become more popular. So, the APIs, web development programs, and programming languages they use become much more meaningful.

Top Cryptocurrency Brokers to Consider in the US

Check out some of the best crypto brokers in the US. CoinBase tops the list for their listing volume, flexibility, and ease of use. The others are also not lagging.

Coinbase

Coinbase offers more than 200 cryptos to choose from. Most importantly, you can store the coins in your secure vault. There are time delayed withdrawal options for added security also.

Both advanced and beginner traders can use the platform comfortably. The fees start from 0.6%. It also gives you the chance to start trading from $0.

Binance US

Binance US is a cost-effective crypto that you can consider as a starter. Binance’s trading fees start from 0.57. That comes to $57 for every $10,000. But it comes down as you trade more. The account minimum for Binance US is $0.

Kraken

Kraken lists over 200 different cryptos. But what’s most intriguing is that it also lists newbies like Cardano and Solana. If you have a good 30-day trading volume, your trading fees could drop to 0.10 from 0.26%. However, Kraken is still a good option for local trading.

It is not readily available in New York and Washington. Maybe in some other states as well. However, Kraken charges an account minimum of $1. It’s negligible but still significant when considering a cumulative earning of $1 for each customer.

eToro

eToro is one of the top crypto brokers in the US. Their app has a user-friendly UI, which is suitable for beginners. However, eToro has a selection of only 24 cryptos. The names include Bitcoin, Ethereum, Solana, and IOTA. However, I feel that the best part about eToro is that users can mimic the profiles of successful investors.

Hence, the chance of earning money is high here. The last but killer feature of the platform is its customer support help centers. You will also get a live chat feature there. Call- (888) 271-8365

Gemini

Gemini has most of the good specs that others offer. The main features are simple yet intuitive features. Added with innovative security practices, compliance norms, and better licensing.

Others

I don’t prefer suggesting hordes of options. However,  KuCoin and AvaTrade are some of the better-emerging traders you can try. Charges are low. Meanwhile, crypto collections are also superior.

Risks and Considerations in Cryptocurrency Investment

Nobody said crypto trading is free from risks. The mean risk is volatility here. However, the lack of standardized practices may be another risk to watch out for. Let’s break down the dire risks for better understanding:

Volatility and market risks

No platform guarantees the assurance of gain when you are talking crypto here. But it is always better to choose the right platform. Check out a platform’s success rate and customer complaints first.

Often, perpetrators may guide you as genuine brokers and try to break your firewall. So, don’t give in to anonymous crypto trading offers. At the same time, don’t indulge in phishing emails and phone calls.  

The regulatory environment in the USA

Crypto trading in the US is risk-prone due to the lack of proper Cryptocurrency tax laws in the US. Moreover, the regulatory environment keeps evolving constantly. Various federal agencies treat digital assets based on their assessments.

All states can have their own crypto rules. But the mean standpoint of crypto regulations in the country is still the IRS. The body can evaluate the crypto assets within any tax code. However, there is no prompt regulation. Every broker reports their gain or loss from crypto transactions to the IRS.

Conclusion

People searching for Top Cryptocurrency Brokers in the US should know this. You must fathom and realize your crypto trading goals properly. Do you want to trade in a virtual currency directly or trade futures for higher returns?

In addition, I recommend that US cryptocurrency exchanges are a good option for beginner trading. On one hand, they don’t keep you stashed with Bitcoin only. You can try other progressive and promising new coins.

On the other hand, the exchanges offer a pull-proof investment strategy. That alleviates your investment risk to some extent.

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