If you have prepared yourself to get exposure to the crypto world, then the first thing you’ll do is look for one of the Best Crypto Exchange USA. With so many options available across the market, it isn’t easy to select a crypto exchange that aligns with your trading scope and requirements. People who are new to the crypto market often select an exchange that doesn’t match their trading needs, and they end up losing a great fortune. Therefore, selecting a credible and right crypto exchange requires a deep background search and work.
Here are some of the key KPIs that will help you assess various crypto exchanges, if they match your trading needs, whether they are credible, or the key characteristics of a credible exchange.
KPIs for Identifying Best Crypto Exchanges in the USA
These are the key performance indicators of the USA’s credible and reputable crypto exchanges. Ensure that the exchange you chose possesses these characteristics for a successful investment portfolio.
1. Rules and regulations of a particular states
Crypto exchanges in the USA are serving people of other states as well; otherwise, they can’t benefit from using crypto. However, such platforms are serving by their own rules and regulations. For instance, there might be a little amendment to their website, such as for USA-based clients, it will be exchange.us instead of exchange.com.
In a nutshell, the Jurisdiction of exchange platforms reflects that it will not only be hitting its target market but also following rules and regulations of that particular state.
2. Exchange platforms user interface
Loads of information in order books or charts might scare beginners, who are using exchange platforms for the very first time. Hence, a user-friendly exchange platform is the best option in such scenarios. The best part of cryptocurrency exchange sites is that they offer a customized layout. If a trader wants to choose an advanced interface based on his experience containing multiple options; he can do so. Otherwise, there is also an option of using the simple interface for beginners to avert any confusion.
In such a regard, here are the platforms based on a person’s own experience and choices of using crypto exchanges platforms.
- USA best crypto exchanges for beginners investors
- BlockFi
- Coinbase
- Gemini
- Binance
- US-based crypto exchanges for experienced investors
- FTX
- Coinbase pro
- Bitfinex
- Kraken
3. Liquidity
The liquidity concept is the foremost important element for stepping into the cryptocurrency world. Moreover, without grasping a good idea of liquidity, an investor can’t invest in the crypto market. Hence, liquidity knowledge is important for traders to invest in a market without moving it too much. It simply means that the trade must have loads of orders from its order book to keep the flow of trading.
But the question may arise: how will such exchange platforms get that high volume of orders? So, for this purpose, crypto exchanges in the USA must have lots of investors investing on exchange platforms or holding large assets and frequently trading them. On the other hand, if orders are low, then there might be no one who is willing to invest in the coin that investors wish to liquidate or acquire.
Or the worst-case scenario, if the exchange platforms are not left with many options, or there are some orders available. In this case, buying could drive prices up, and investors have to pay more than their profit.
In times of high volatility, liquidity plays its role; it often happens in the crypto markets. As volatility can get exuberated, when prices rise or fall dramatically in times of less liquidity, which ultimately makes market less predictable.
4. Asset choices
Mostly, traders are worried about the asset they want to trade on the exchange platforms. As several types of cryptocurrencies are available, no crypto exchange in USA trading pairs is easily available for every trader. Generally, there would be more chances of trading higher market coins on famous exchanges. Hence, those who wish to invest in lesser traded coins and more catchy options must search the smaller exchanges.
5. Security
A sound and secure crypto exchange platform is important to make it a more profitable option for traders to trade. In general, trusting someone else is in itself a risk, so in case that the exchange gets hacked or faced with some forgery, then the investors are left with no money.
Mostly, crypto exchange in the USA will present all their security practices on websites. As no exchange, in reality, is the most secure option. However, there is no option other than taking some risk to learn about the most secure exchange platform. Moreover, traders can consider the oldest exchange option, having a large number of customers with the least problems.
