For some reason most advice around where to buy crypto does not include safety, this should be the number 1 concern. If your broker is not regulated and insured then your entire investment is at risk, you're already risking your money considering the volatility of the market why add an additional risk on top. For that reason we choose our cryptocurrency brokers carefully, they have all scored very high in the security category.
Best Crypto Broker for Beginners: eToro
eToro is a great broker for beginners & semi serious investors. They have created a user friendly platform that allows US citizens to safely buy cryptocurrencies and display real time market data to assist their choices. Your funds will enjoy a high level of security with eToro, not only are they regulated in the US but they are multinational brand. eToro's fees vary depending on the asset but they're generally pretty competitive. eToro offer a demo account where you can test your trading decisions with fake money first, this is a nice feature. I recommend eToro to anyone who is new to crypto/investing, or wants to just buy and hold some assets. If you're an experienced trader then eToro is probably not best option for you.
Runner-up Best Broker: Coinbase
Coinbase is the biggest cryptocurrency exchange based in the US, offering more than 30 cryptocurrencies to their users. On the plus side they offer their users an easy to navigate platform, a quick registration process, multiple deposit options and a low account minimum ($2). Coinbase fees are known to be confusing and higher than some competitors but still quite reasonable. For experienced traders, Coinbase offers advanced security features, great customer service high volume trading.
Best Broker for Speed & Ease: Coinmama
Coinmama is ideal for those who want to buy bitcoin quickly and easily. They do charge a high fee (5.5%) but have no withdrawal fee which is good. They offer all the most popular cryptocurrencies and have hundreds of thousands of happy customers all over the world. We placed Coinmama in third place because of their speed and ease, although their fees and lack of app is a little disappointing.
Best Broker for Low Fees: Kraken
Kraken is one of the oldest US based cryptocurrency exchange available today, they offer a range of different services including excahnge, OTC, anonymous trading & more. For the last 10 years Kraken has been growing in popularity due mainly to their excellent safety features, range of services and competitive fees.
Best Broker for Altcoins: KuCoin
Kucoin has two defining qualities, their exceptionally wide range of cryptocurrencies (over 200 altcoin) and their competitive fees (from 0.1%). They also have an interesting loyalty scheme that allows traders to reduce fees and earn KuCoin's own native cryptocurrency (called KuCoin Shares). KuCoin offer customers the ability to deposit in over 40 different fiat currencies too. Read our full review to learn more.
Because you live in the USA
The government here in the US generally has stricter regulations than others. This means we need to jump through a few more hoops and have access to less services. At first you might think this annoying but its actually there to protect us, there are a lot of predatory 'investment' instruments out there that will part you from your money so the regulations tend to save us billions in fraud each year.
Above you can find all the brokers that went through the regulatory process and follow all the guidelines. This is why we are happy to recommend them, we also have similar recommendations for those in search of crypto exchanges in the US. These regulations also exist at a state level so check with each broker about the state level laws, some brokers do not operate in some states.
The difference between a cryptocurrency broker and an exchange
- A cryptocurrency broker is an individual or an entity that acts as the middle man between the cryptocurrency markets and their customer to facilitate buying and selling of cryptocurrencies
- Cryptocurrency brokers offer buying and selling of cryptocurrencies at prices set by them.
- A cryptocurrency exchange provides an online platform for buyers and sellers who trade cryptocurrencies between each other based on current market prices, they make money by charging trading fees.