6 Best Crypto Exchanges in New York
Many crypto exchanges are available in the US, but depending on the state you live in, you may not have access to all of them. Take Binance US. It’s available in every US state except Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.
That is why you should always know which crypto exchanges are available in your state and which ones are the best among them. In this article, we will look at the best crypto exchanges in New York.
Here are the 6 Best Crypto Exchanges in New York:
1. Coinbase
Founded in 2012, Coinbase has grown to become one of the best and most well-known crypto exchanges in the world, with over 73 million users and 100+ coins available for trading. It’s also one of the best crypto exchanges in New York
Coinbase is suitable for both beginners and advanced users, but beginners will find it more helpful. Coinbase offers many extra features like Coinbase Earn, where you can earn interest on your funds.
The only downside of Coinbase is its poor customer service, as reported by many users, and high transaction fees. However, transaction fees are significantly cheaper in Coinbase Pro. Speaking of which…
2. Coinbase Pro
As you can guess, Coinbase Pro is from the same company. Both platforms have many similarities as well as differences. For instance, Coinbase Pro offers an even wider range of trading insights and charting tools than Coinbase. Anyone with a Coinbase account can easily switch to Coinbase Pro. There aren’t any fees for switching.
As the name suggests, Coinbase Pro is more suitable for pros and experts. Not just in terms of user interface or features but also in terms of trading volume and security features. Coinbase Pro charges lower fees on higher trading volume, but it’s still higher than other exchanges out there.
3. Gemini
Founded in 2014, Gemini is the most user-friendly exchange, best for beginners in crypto trading. The platform has 13 million active users and 50+ tradable cryptocurrencies.
Even though the platform is best suitable for new and small traders, its fee structure is quite expensive. Nonetheless, it still has enough features to keep its users satisfied. For advanced and seasoned traders, Gemini is clearly not the best option.
4. Cash App
Square’s Cash App, formerly known as Square Cash, was founded in 2013 by Jim Mckelvey and Jack Dorsey, the former CEO of Twitter. It initially started as any other peer-to-peer payment application like Venmo, where you can send or receive money with your smartphone.
Now, Cash App has also made buying, selling and holding Bitcoin available. The only drawback is that the app only offers Bitcoin for now. For beginners and small investors who don’t want to dive too deep into the world of crypto, Bitcoin may be enough.
The best part about Cash App is that it has everything you need. You can use it for its traditional use of sending and receiving money. You can buy stocks. And now, you can buy Bitcoin as well. All in one simple app.
5. PayPal
Most of us are already pretty familiar with PayPal. Last year, PayPal made its way into the crypto exchange market by allowing its users to buy, sell or hold Bitcoins. The platform allows users to purchase Bitcoin for as little as $1. The user interface is also very simple and easy-to-use, perfect for beginners.
The only drawback – it doesn’t allow you to move your Bitcoin to other exchanges and wallets. You can only buy, sell and pay with your Bitcoin from PayPal. In fact, you won’t even own your Bitcoin. PayPal will.
It’s a good thing in some sense. Good for the people that don’t want the hassle to learn about crypto and deal with keeping their private key secure, as PayPal will do it for them. But if you want more options and more control over your crypto, PayPal is not for you.
6. Robinhood
Founded in 2013, what initially started as a commission-free stock trading platform now also offers free digital currency trading through its mobile app. Though free crypto trading sounds great, when compared all of its features to other crypto exchanges, Robinhood falls short.
It only has 7 tradable coins available. And the customer support is also not good enough. Nonetheless, some people still find Robinhood decent enough to use it for crypto trading.
Final Thoughts
These are the 6 best crypto exchanges in New York. For people who want minimal interaction with the crypto world while still holding some crypto, Cash App and PayPal seem like their best bet. For people who want more than surface-level trading options, exchanges like Coinbase and Coinbase Pro seem to be the best.
Also, check out the 5 best crypto exchanges in the US.
No matter which exchange you use, come tax-season, Bitcoin.Tax allows you to connect almost all crypto exchanges, including the ones in this list. Bitcoin.Tax will collect all the data and transaction history from all the different exchanges and wallets you’ve been using, calculate gains and losses and prepare your tax report.