What is a cryptocurrency exchange?
The 5 best cryptocurrency exchanges for new investors
- Tier-0 requires an email address, which allows users to navigate the site but does not let them make trades
- Tier-1 requires a user's full name, date of birth, country, and phone number. These users can make deposits and withdrawals only in cryptocurrency.
- Tier-3 requires a valid government ID and proof of residence. Users in this tier can make fiat deposits and withdrawals up to $25,000 daily and $200,000 monthly.
- Tier-4 is the highest level of funding limits and consists of both individual investors and corporations
|Crypto Exchange||Number of assets supported in the U.S.||Fees to consider|
|Coinbase||48||The trading and transaction fees on Coinbase vary between 0.5% to 4.5%|
|Binance.US||500+||The purchase and trading fees on Binance.US vary between 0.02% to 0.10%. There are 3% to 4.5% fees for debit card purchases and a $15 fee for every U.S. wire transfer.|
|Kraken||60||The fee for credit card transactions is 3.75%. Bank and wire transfers within the U.S. usually come with fees ranging from $5 to $25.|
|Uphold||36||Uphold offers 0% fees on deposits and withdraws, and takes 0% trading commissions. Uphold charges a spread fee, though.|
|PayPal||4||Fee of 0.50 USD for purchases between $1–$24.99; 1.50% to 2.30% fees for purchases over $25|
The bottom line
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