Best Bitcoin Trading Platforms – Compare Top Bitcoin Trading Platforms in the US
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Although there are dozens of Bitcoin trading platforms active in the online space – most do not accept US clients. Even those that do might not be worth your consideration – perhaps because the platform is unregulated or it charges high fees. Either way, you need to do plenty of research when choosing the best Bitcoin trading platform for you.
In this guide, we review the best Bitcoin trading platforms in the US – with a specific focus on regulation, fees, supported markets, payment methods, and user-friendliness.
Table of Contents
#1 Broker to Trade Bitcoin in the US – eToro
1
Mobile AppYes
Best Bitcoin Trading Platform – List of Top Bitcoin Trading Platforms in the US
Below you will find a quick snapshot of the very best Bitcoin trading platforms in the US. You can scroll down to read our comprehensive reviews of each provider and why we think they make the cut as a top-rated Bitcoin trading site.
- eToro – Overall Best Bitcoin Trading Platform in the US
- Coinbase – Great Bitcoin Trading Platform for Beginners
- Binance – Best Bitcoin Trading Platform for Low Commissions
- Robinhood – Simple Bitcoin Trading Platform for Long-Term Investments
- Webull – Bitcoin Trading Platform With a Minimum Stake of $1
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Best Bitcoin Trading Platforms in the US – Full Reviews
When choosing the best Bitcoin trading platform in the US for your needs – the first thing you need to look at is whether or not the provider is regulated. Then, you’ll need to see which Bitcoin markets are supported, what fees and commissions are applicable, and whether or not you can fund your account with US dollars.
We have done the hard work for you by reviewing the very best Bitcoin trading platforms available in the marketplace right now.
1. eToro – Overall Best Bitcoin Trading Platform
Our research team found that hands-down – eToro is the best Bitcoin trading platform – not only in the US, but globally. As a US client, you are well looked after at eToro in terms of security. For example, the brokerage site is regulated by the SEC and approved by FINRA. To add even more credibility to this platform, eToro is also licensed by ASIC, CySEC, and the FCA. In terms of what you can trade, eToro offers over 30+ cryptocurrency markets.
In addition to Bitcoin, this also includes the likes of EOS, Ethereum, XRP, Dogecoin, AAVE, Litecoin, Cardano, and more. When you trade Bitcoin at this top-rated brokerage, you can do so at a minimum stake of just $25. This is because eToro supports fractional investments. In terms of trading fees, you will only need to cover the spread. When trading Bitcoin, this amounts to just 0.75%. As a result, not only is eToro one of the safest Bitcoin trading platforms in the online space – but it’s also one of the most competitive in terms of fees.
Another major benefit of choosing eToro as your go-to Bitcoin trading platform is that the broker allows you to deposit funds in US dollars. This can be via a debit or credit card payment, ACH transfer, or online banking. Either way, eToro is one of the only Bitcoin trading platforms in the US to offer fee-free deposits. Plus, the minimum first-time deposit stands at just $50 – so you can try the platform out without needing to inject too much capital. eToro also offers a free demo account – which is great for testing the broker in a risk-free manner.
If you are keen to trade Bitcoin but you do not have much experience in terms of technical or fundamental analysis – you might find the eToro Copy Trading tool of interest. Put simply, this allows you to choose from thousands of eToro investors and then ‘copy’ the trader that you like the look of. In other words, anything that the trader buys and sells will also be reflected in your own portfolio. You also have the CryptoPortoflio feature, which permits a diversified investment into over 12 digital tokens via a single trade.
If you want to trade Bitcoin on your cell phone – eToro also offers its own native mobile app. Available on both iOS and Android devices, this highly-rated application gives you full access to your main trading account. As such, you can check the value of your investments, place buy and sell orders, and make deposits and withdrawals. In particular, eToro is a fan-favorite with beginners, not least because both the main website and mobile app are super easy to use.
Pros
- Invest in cryptocurrencies on a spread-only basis
- Minimum investment per trade from just $25
- Supports debit/credit cards, e-wallets, and local bank transfers
- Registered with FINRA/SEC and regulated by the FCA, CySEC, and ASIC
- Minimum deposit of $50 and no transaction fees for US citizens
- Used by over 20 million people
- Perfect for beginners
- Social and copy trading tools
Cons
- Perhaps too basic for technical traders
- No support for MT4 or MT5
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
2. Coinbase – Great Bitcoin Trading Platform for Beginners
Although eToro is the best Bitcoin trading platform for beginners, Coinbase is also worth a mention. Much like eToro, the broker is popular with those who have little to no experience in buying and selling digital currencies. The main Coinbase website allows you to buy Bitcoin with a debit or credit card – which is ideal for those looking to invest in the long run. This is because you can leave your BTC tokens in your Coinbase web wallet until you decide to cash out.
Now, although Coinbase is great for purchasing Bitcoin with ease, you will be charged a transaction fee of 3.99% when using a Visa or MasterCard. You can deposit funds via ACH for free, but you will then be charged a standard trading commission of 1.49% per slide on each buy and sell order. Further, you then need to consider the spread charged by Coinbase – which can exceed 2% – even during busy market conditions. Taking all of the aforementioned fees into account, Coinbase is super expensive.
On the other hand, you might also consider using Coinbase Pro. This is a subsidiary of the main Coinbase website and is specifically focused on short-term trading. Not only does Coinbase Pro give you access to more supported cryptocurrencies and markets, but trading fees are lower. For example, entry-level traders will pay a commission of 0.50% per slide. If you find yourself trading more than $10k per month, this fee will be reduced further. Finally, Coinbase is sufficiently regulated in the US and offers institutional-grade security on your funds.
Pros
- One of the most popular cryptocurrency exchanges
- More than 68 million users
- Supports instant debit card purchases
- Dozens of digital currencies to choose from
- Institutional-grade security practices
Cons
- Debit card deposits are expensive at 3.99%
- You will pay a standard trading commission of 1.49%
at eToro, #1 Broker in the US
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
3. Binance – Best Bitcoin Trading Platform for Low Commissions
Binance is another platform that is hugely popular with Bitcoin traders in the US. On a global scale, Binance is actually the largest exchange in terms of trading volume. In fact, the platform regularly hosts daily volumes in excess of $50 billion. This ensures that Binance is home to heaps of liquidity – even on less liquid pairs. In terms of why you should choose Binance as your preferred Bitcoin trading platform, the exchange offers several core benefits.
First and foremost, Binance charges a trading commission of just 0.10% per slide. This is the case irrespective of which digital currency you are trading. The exchange allows you to reduce your commission even further when you own a minimum number of BNB – which is the crypto asset backed by Binance. Debit and credit card deposits are also reasonably priced in the US – with Binance charging just 0.50%. With that said, this is still more expensive than eToro – which charge no deposit fees at all.
When it comes to supported markets, you can instantly purchase Bitcoin and 50+ other cryptocurrencies with Visa or Mastercard. Alternatively, if you want to engage in short-term trading, you will find even more markets. For example, you can trade Bitcoin against the US dollar or other digital tokens like Ethereum, Uniswap, VeChain, Litecoin, and Cardano. Binance also offers lots in the way of technical indicators and chart drawing tools – which makes the platform ideal for those looking to perform in-depth analysis.
Pros
- Facilitates billions of dollars in daily trading volume
- Supports hundreds of digital asset pairs
- Near-instant deposits via debit/credit card
- Trading commission starts at just 0.1% per slide
- Offers crypto savings accounts
- Ideal for both beginners and experienced traders alike
Cons
- Not all supported cryptocurrencies can be purchased with a debit/credit card
- No e-wallet deposits or withdrawals
at eToro, #1 Broker in the US
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
4. Robinhood – Simple Bitcoin Trading Platform for Long-Term Investments
There are several key points to note about Robinhood in terms of trading Bitcoin – especially when it comes to fees. For example, although Robinhood is a 0% commission broker, you will still need to cover the spread. This can be on the high side when trading Bitcoin – so keep an eye on this before you invest. We should also mention that Robinhood does not give you the option of withdrawing your BTC tokens. Instead, Robinhood will keep your digital assets stored in its own custodial wallet – meaning that you never have access to your private keys.
You won’t be able to deposit funds with a debit or credit card at Robinhood, so you will need to choose from ACH or a domestic bank wire. Unless you sign up for the Robinhood gold account, only the first $1,000- will be credited instantly. The remainder of your deposit might take 1-3 working days to settle. When it comes to the trading platform itself, this is somewhat simple in comparison to the other brokers we have discussed today. This might, however, be sufficient enough if you simply want to buy and hold Bitcoin for several months or years.
Pros
- Hugely popular broker in the US
- Millions of US clients on its books
- Offers crypto, stocks, options, and funds
- 0% commission on all supported markets
- Heavily regulated
Cons
- Spreads are often wide
- No debit/credit card deposits
- Only the first $1,000 is credited instantly when depositing funds (basic account)
- Limited selection of cryptocurrencies
at eToro, #1 Broker in the US
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
5. Webull – Bitcoin Trading Platform With a Minimum Stake of $1
Bitcoin traders and investors come in a full range of shapes and sizes. If you find that you are a complete novice and are somewhat reluctant to get started – Webull might be a good entry-level platform for your needs. Crucially, this is because you only need to meet a minimum trade size of $1. Furthermore, Webull does not have a minimum deposit policy in place – so you can get started with any amount of your choosing. Much like Robinhood, we would consider Webull a high spread broker that offers 0% commissions.
This is because the platform notes that cryptocurrency spread starts at 1%. But, from our own research, this figure can creep up depending on current market conditions. On top of Bitcoin, this trading platform supports a sizable number of alternative tokens. This includes everything from Cardano, Ethereum Classic, and Dogecoin to Litecoin, Shiba Inu, and Dash. The super-low stake requirement offered by Webull essentially means that you could invest in 10 different crypto assets with a deposit of just $10.
In a similar nature to Robinhood, Webull has a greater focus on traditional stocks and investment funds. This is actually a great benefit. as you diversify across multiple asset classes. The best way to fund your Webull brokerage account is via ACH – as no fees are applied to the transaction. Bank wire deposits, on the other hand, will cost you $8 per transaction. Finally, you should have no concerns regarding credibility as Webull is regulated in the US – so both its online platform and mobile app can be accessed safely.
Pros
- User-friendly trading app for both iOS and Android devices
- 0% commission policy across all assets
- No minimum deposit
- ACH deposits and withdrawals are fee-free
- Regulated in the US
- Invest from just $1
Cons
- Crypto spreads start at 1%
- Too basic for experienced traders
- No support for e-wallets or debit/credit cards
at eToro, #1 Broker in the US
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
How to Find the Best Bitcoin Trading Platforms in the US
Now that you have read our reviews on the best Bitcoin trading platforms in the US – it’s time to do a little bit more research to ensure you select the right broker for you. This can be a simple process once you know what metrics to look out for. To help clear the mist, below we discuss these core factors so that you can confidently choose the best Bitcoin trading platform for your investment goals.
Regulation and Safety
It goes without saying that the safety of your capital is the most important thing to consider when searching for the best Bitcoin trading platform. This can be assessed in several different ways, such as:
- Regulation: The best Bitcoin trading sites will be regulated by a reputable financial body. For example, eToro is regulated by the SEC and approved by FINRA. Crucially, this means that US customers can buy, sell, and trade Bitcoin in a safe and secure way.
- KYC: Bitcoin brokers that are regulated and approved in the US will need to verify your identity before you can access its trading services. This is as simple as uploading a copy of your government-issued ID.
- Storage: You also need to assess how safe your digital tokens are when being stored on your chosen Bitcoin trading platform. The best providers in this space will keep the vast bulk of client funds in cold storage – making it virtually impossible for hackers to breach the platform’s servers.
Ultimately, even if you find a Bitcoin trading platform that offers super-low fees and support for your preferred markets – the provider should be avoided if it does not meet the above safety checks.
Bitcoin Markets
There are many ways to trade Bitcoin – so you need to think about this before opening an account with a new platform. For example, if you are looking to invest in Bitcoin over many months or years, you will want to choose a broker that allows you to buy BTC tokens directly with US dollars.
On the other hand, if you are more of a short-term trader, you might want access to more flexible markets. For instance, many of the brokers discussed today also allow you to trade Bitcoin other alternative digital tokens – such as Ethereum, XRP, or Dogecoin. Either way, just make sure that your chosen platform offers the specific Bitcoin markets that interest you.
Demo Trading Account
Our team of researchers found that the best Bitcoin trading platforms offer a free demo account that mimics live market conditions. For instance, as soon as you have opened an account with eToro, you can use the platform’s demo facility which comes pre-loaded with $100k in paper funds.
Passive Trading
If you are relatively new to the world of Bitcoin, it might make sense to choose a platform that offers passive investment services. In a nutshell, we found that the best platform in this respective is eToro – which allows you to trade cryptocurrencies without needing to do any research or place any orders.
First, you have the Copy Trading tool. As we briefly covered earlier, this allows you to copy a seasoned Bitcoin trader like-for-like. Your chosen trader will be buying and selling cryptocurrencies on the eToro platform with their own capital – so you know that they will be investing in a risk-averse manner.
Second, you have the eToro CryptoPortfolio service – which is more for long-term investors. Through a single investment, you will be buying a wide basket of digital tokens. Each cryptocurrency within the portfolio will have its own weightage contribution. For example, Bitcoin might be weighted at 20% while Cardano might be lower at 7%. Either way, the CryptoPortfolio is professionally managed by the eToro team.
Fees
When you buy and sell cryptocurrencies at a Bitcoin trading platform – several fees will come into play. This will have a direct say on how much of your potential profits you get to keep – so having a firm grasp of the platform’s fee structure is crucial.
We generally split platform fees into three categories, which you will find below:
- Payment Fees: This is the fee charged by the trading platform when you deposit and withdraw funds. To give you an idea of the disparity found in this marketplace, eToro offers fee-free deposits on Visa and MasterCard while Coinbase charges 3.99%.
- Commissions: You will likely pay a commission when you trade Bitcoin. Binance will charge you 0.10% per slide – which is very competitive. Once again illustrating just how expensive Coinbase is, the exchange charges a standard commission of 1.49%.
- Spreads: This is arguably a hidden fee, as the spread is the gap between the buy and sell price quoted by the Bitcoin trading platform. eToro spreads start at 0.75% when trading Bitcoin, while many brokers charge in excess of 2-3% – sometimes more.
The respective fee structure can take a while to fully understand – as many Bitcoin trading platforms do not make this readily available. That is to say, our researchers often had to do a lot of digging to find out the specific commissions and spreads charged by many of the brokers we reviewed. eToro, on the other hand, is fully transparent with its fees – which is a major benefit.
Supported Payment Methods
You will need to deposit funds into your Bitcoin trading account before you can start buying and selling cryptocurrencies. Whether or not your chosen broker has the legal remit to accept payments in US dollars will ultimately determine what payment methods are available to you.
For example, as eToro is regulated by the SEC and approved by FINRA, this means that you can deposit funds with a debit/credit card, ACH, or online banking. However, if you are using a platform that isn’t licensed by a reputable body, then you will likely find that you can only deposit funds with crypto.
Mobile App
Many traders like to buy and sell Bitcoin while on the move. In order to do this, the platform must offer a native mobile app that gives you full access to your account.
Once you have the app installed on your phone, this means that you can trade digital tokens no matter where you are – subsequently ensuring that you never miss a profit-making opportunity. This will also allow you to exit a losing trade at the click of a button.
How to Get Started With the Best Bitcoin Trading Platform
If you have read this guide in full and decided that you wish to proceed with the best Bitcoin trading platform for 2022 – eToro, we are now going to walk you through the process of getting started with an investment account. In fact, by following the simple tutorial below, you will have your first Bitcoin trade place in under 10 minutes!
Step 1: Open a Bitcoin Trading Account
Head over to the eToro website, click the ‘Join Now’ button, and complete the on-screen steps to open an account. Essentially, this simply requires some basic information from you – such as your full name and date of birth.
In addition to entering your contact details, you will also need to choose a username and a strong password- which will be used to access your eToro account once you are registered.
Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.
Step 2: Upload ID
eToro, as a heavily regulated broker, will now ask you to upload some ID. Once your government-issued ID has been approved (which shouldn’t take more than 1-2 minutes), all account restrictions will be removed.
Step 3: Deposit Funds
eToro supports a wide variety of payment methods – which includes ACH, online banking, and debit/credit cards issued by Visa and MasterCard.
The minimum deposit amount is just $50 and best of all – US clients do not pay any transaction fees!
Step 4: Search for Bitcoin Market
You can search for your preferred cryptocurrency trading market. If you want to trade Bitcoin against the US dollar – simply enter ‘BTC’ into the search box.
The search box will likely yield multiple results, albeit, BTC/USD is displayed at the very top.
Step 5: Trade Bitcoin
You will now be required to set up your Bitcoin trade. If you’re a beginner, it’s best to leave the trade set as a ‘market order’ – which eToro does by default. This simply means that once you place your trade, eToro will execute it instantly at the current market price.
You will then need to enter your stake – which needs to be at least $25. If you wish, you can also set up a stop-loss order. This will ensure that a losing trade does not spiral out of control.
When you are ready to place your trade, click on the ‘Open Trade’ button.
Best Bitcoin Trading Platform – Conclusion
This guide has reviewed the very best Bitcoin trading platforms available in the US. Each of our reviews focused on core metrics surrounding fees and commissions, regulation, payments, and user-friendliness.
If you are looking to trade Bitcoin in a low-cost and secure environment right now – we found that eToro is the best option for this purpose. This SEC-regulated platform offers plenty of markets and you can buy, sell, and trade Bitcoin from just $25.
1
Mobile AppYes
FAQs
What is the best Bitcoin trading platform?
How do you trade Bitcoin?
What is the best Bitcoin trading platform for beginners?
What is the minimum Bitcoin trade
Can you trade Bitcoin CFDs in the US?
