Cryptocurrency continues to be come more popular among Americans and you are probably wanting to find the best place to buy bitcoin in the US. In this article we’re going to compare several options to help you pick the best US crypto exchange for you & your goals.
Overall Best US Crypto Exchange: CoinMetro
Let’s take a look at some of the most common exchanges for American traders. We’re going to compare fee structures & analyze the pros & cons of each exchange.
Fees: There’s NO FEE for makers & the taker fee is just 0.1%. Both can earn rebates.
CoinMetro is a well rounded platform that’s great for both beginners & experts. If you’re new to crypto, you’ll love the copy trading platform where you can mirror the trades of a professional trader! The simple swap widget is a great tool as well. If you’ve been trading for a while, dive into the margin trading platform to multiply your trading power! The CoinMetro exchange is customizable and will provide you with all the tools & analytics you need to be successful. Plus you can even get paid to trade with our innovative rebates system. Our native utility token is XCM, which serves a variety of functions throughout all platforms.
In this immature market with so many bad actors, we’ve championed compliance & regulation. This is the best way to advance adoption and spread crypto to the masses. Our incredibly unique platform has a strong foundation because we built it all from scratch. We didn’t rush to market with a copy & pasted exchange, CoinMetro has done everything the RIGHT way. This includes 24/7 LIVE support where you can speak to a real person.
Fees: Confusing fee structure that depends on usage and even the device you use.
Gemini comes in as the second best US crypto exchange. It was created by Cameron & Tyler Winklevoss in 2014. The exchange is based in New York City and regulated under the New York State Department of Financial Services. They created one of the first regulated stablecoins in the world, known as the Gemini Dollar (GUSD). There are more than 20 cryptocurrencies supported by Gemini.
The exchange has a nice user interface that’s pretty easy to work with for crypto newbies. But they can also cater to professional level trading as well. Gemini markets themselves as being created with a central focus on security.
Fees: Makers & takers both pay 0.5% if it’s under $10k.
Coinbase was created back in 2012. As a result, they have first-mover advantage and have become the most well-known US crypto exchange. The company is expected to go public in 2021 with an evaluation of around $100 billion. The platform is beginner friendly with a very simple interface. The exchange operates in all 50 states.
Unfortunately, Coinbase is notorious for terrible customer service and losing service at high-traffic times. Frustrated traders often find themselves not able to buy or sell at critical times. Coinbase can take weeks, or even months, to respond to users.
Fees: 0.1% transaction fee for makers & takers both
The international parent company of Binance became notorious for years of shady practices and ignoring regulations. As a result, they were forced to halt trading for Americans. They quickly built this new exchange in an attempt to win over US clients without facing legal issues. However, they’re is still unable to serve clients from New York, Hawaii, Washington, Alaska, Alabama, Connecticut, Georgia, Florida, Louisiana, North Carolina, Idaho, & Vermont.
Binance US has listed more assets than the other exchanges on this list. But be careful. The platform is more advanced than others and isn’t a good place for beginners to get into cryptocurrency. Their philosophy towards compliance & regulations seems to be to act first, and then try to figure it out later. With a history of legal “gray areas”, trust is an issue with this company. Whereas CoinMetro champions transparency, Binance is the exact opposite.
Fees: All transactions are charged a constantly changing fee, based on market activity.
Released in 2013, Cash App is a mobile payment service. It handles peer-to-peer money transfers via a mobile app. However, it does not have a web/desktop option. Cash App is an easy way to send or receive money, but it’s not focused on cryptocurrency. Unfortunately the only crypto available on the app is bitcoin. But at least you’re able to withdraw that bitcoin, unlike Robinhood.
After examining all these options, CoinMetro is the clear winner for best US Crypto Exchange. It’s perfect for both beginners and expert crypto traders. The low fees & 24/7 live support truly blow the competition out of the water.
Check out this amazing financial ecosystem and create an account today!
The post The Best US Crypto Exchange? appeared first on CoinMetro Blog – Crypto Exchange News.
Author: By TeamMMG
What keeps Bitcoin price similar across different crypto exchanges? – securebitcoinnews
Bitcoin trades in countless locations across the globe, including on numerous exchanges. The asset, however, largely trades near the same U.S. dollar value across the market, aside from some countries’ outlying price action from time to time. How is this possible?
Numerous trading products exist in the crypto space, including Bitcoin (BTC) futures and options, but how is the price of actual transactable BTC, called spot BTC, determined in the crypto market, especially given the vast number of exchanges?
“The price of BTC at any moment is really no more than a function of the price people are ready to buy or sell BTC at that time,” Justin d’Anethan, sales manager at Equos — a digital asset exchange under Diginex Group — told Cointelegraph. “That is why it will vary — very slightly — from one exchange to the other,” he explained, adding:
“Naturally, market makers and arbitrageurs will play off that difference and minimize it (selling when it’s higher; buying when it’s lower so that it naturally corrects). Often, data providers and exchanges themselves use an index as a base, which is composed of the current price monitored across a selection of different exchanges.”
Arbitrage is one aspect of the market that helps keep Bitcoin’s price similar across exchanges. If BTC trades at $50,000 per coin on one exchange and $60,000 on another, people would likely buy BTC for $50,000, send it to the other exchange, sell it for $60,000, and keep the profit of $10,000 per coin. A number of factors play into arbitrage, however, such as transaction timing, exchange restrictions and bots.
Filbfilb, a crypto analyst and trader, also sees arbitrage as a significant component in determining Bitcoin’s spot price on the market. “Generally speaking, arbitrage bots play a major role in eliminating pricing differences brought about by isolated volume,” he told Cointelegraph. “They effectively reward people who correct market price discrepancies, with profit,” he added. Filbfilb explained:
“A high volume dump on one exchange, A, which presses price down beyond that of exchange B, will see arbitrage participants buy the cheaper coins on exchange A and sell them at a higher price on exchange B. This will continue until price A and B are equalized and the opportunity is eliminated. Obviously, that is a simplistic example, but it’s going on literally all the time.”
Arbitrage opportunities have also existed between Bitcoin futures and spot trading, according to a strategy once mentioned by Bitcoin stock-to-flow model creator PlanB. The tactic essentially involves shorting BTC futures while purchasing spot Bitcoin.
Certain Bitcoin futures, such as those tradable on the Chicago Mercantile Exchange, sometimes trade above the asset’s price near the beginning of their contract periods, depending on the expiration, finding their way closer to the spot price of BTC by the time expiration comes around. This system depends on a number of factors, however, such as the length of the chosen Bitcoin futures contract.
“Buy orders and sell orders from participants across the globe determine the real-time price of Bitcoin,” Rob Levy, co-founder of Hxro — a crypto trading platform — told Cointelegraph. “The markets are all connected — from the spot markets to the derivatives markets (futures, options, swaps),” he said, adding:
“The most advanced market participants, often called liquidity providers or market makers, trade across all of the most active exchanges across the globe simultaneously. The advanced trading systems built by high-frequency traders monitor the order books on all of the major exchanges around the clock.”
Levy noted fast arbitrage as the force maintaining comparable BTC pricing on various crypto trading platforms.
Additionally, the CME’s BTC futures trading impacts the market price for spot Bitcoin, according to a report by Wilshire Phoenix, an investment firm. “The findings of Wilshire Phoenix […] indicate that CME Bitcoin Futures contribute more to price discovery than its related spot markets,” the report said.
The CME opened cash-settled Bitcoin futures trading in 2017. In tandem with its BTC futures, the Chicago trading entity uses the CME CF Bitcoin Reference Rate — a value for Bitcoin, taking into account data from exchanges on the BTC spot market.
Overall, although certain factors can play a part in standardizing Bitcoin’s price across exchanges, the asset derives its overall worth based on a number of rationales, including its role as a store of value.
Four Up-and-Coming Crypto Derivatives Exchanges to Watch in 2021
Derivatives are one of the fastest-growing crypto markets, with futures volume vastly outstripping the spot. Once the preserve of pro traders only, derivatives exchanges have lowered the barriers to entry, making it easier for novice traders to gain exposure to futures products. The best of this new breed of exchanges balances offering high leveraged products with ensuring that traders understand the underlying workings of the market and the risks involved. Here are four of the best new derivatives exchanges to look out for in 2021.
Although not available to US residents and other select countries due to regulatory restrictions, StormGain is working to establish itself as one of the top crypto derivatives exchanges. StormGain supports the purchase of cryptocurrencies with fiat currency and offers a wide range of products and solutions on top of a zero-commission trading platform. Users can access financial products beyond the trading of standard cryptocurrency derivatives, such as leveraged tokens.
StormGain is focused on becoming an all-in-one crypto platform, also offering wallet services, mining services, educational material, interest-generating deposit accounts, a loyalty program, and more. With over $1.28 billion in weekly volume, StormGain has carved out a corner of the derivatives market.
Bingbon has grown from humble beginnings to become a mainstay of the derivatives market thanks to its intuitive platform, variety of trading pairs, easy access to funds, and local adoption. One really neat feature not available on most derivatives exchanges, which attracts many newcomers, is the ‘copy trade’ option. Using this method, any Bingbon user can follow a proficient trader on the platform, copying their trades to mimic their trading strategy and realize maximum profits. With the top copy traders available to follow on the platform generating well over one hundred percent in yearly returns, it’s no surprise that Bingbon is seeing such rapid adoption.
Bingbon is now expanding into new global markets. The exchange has already grown a substantial user base in new and emerging markets like Latin America and Turkey and plans to continue to capitalize on markets that its competitors are overlooking. On Bingbon, you can buy cryptocurrency with fiat, trade derivatives and contracts underlined with various assets, follow some of the most successful traders in the market, and safely store your crypto, just a few factors aiding the exchange’s accelerated growth.
Phemex has already begun to solidify itself as a prominent crypto derivatives exchange, but it still has a lot of room to grow. Phemex serves a global audience, offering spot and margin trading to its user base across a variety of cryptocurrency assets. The exchange is highly accessible, available via desktop or mobile, and incentivizes new users with large giveaways. Phemex is currently offering a one million dogecoin giveaway for new users, trading bonuses of up to $600 for new deposits, and a separate giveaway where you can win a PS5 and up to $500 for opening a Phemex savings account.
Phemex offers its users high performance and advanced platform functionalities, with a trading engine that can execute over 300,000 trade orders per second. With 24/7 live and multilingual customer support, Phemex offers a welcoming environment to beginners and intermediate traders
The last promising derivatives exchange to consider is CoinTiger, another one-stop-shop looking to provide its users with value throughout the entire cryptocurrency investing lifecycle. Like most of the exchanges mentioned, CoinTiger offers spot trading, leveraged trading, futures, and a fiat onramp within a robust and user-friendly platform.
One USP for CoinTiger is its Tiger Bank, a crypto asset investment product based on the exchange. This gives platform users access to fixed income products like ‘Monthly Yield Growth’ and ‘Fixed Rate’ options, delivering more opportunities traditionally only available through legacy financial institutions. These flexible products empower users who are largely excluded from traditional financial services, allowing for the opportunity for anyone to grow and preserve their wealth.
Image source: Depositphotos.com