Suggestions: Best Exchange for US Citizens, low fees, "Safe" + Nano X

[NYChyna]

Hey y'all. Looking for your much-needed help please. There are so many choices. I've also read instances of insanely long approval times. Only looking to hodl BTC & ETH and eventually do a bit of swing/day trades. Looking to fund with Fiat via ACH or wire transfer. I would love to hear and appreciate your knowledge and suggestions for the best exchange to use:

-US Citizen
-As "safe" as "safe" can be
-Low deposit/withdrawal/trading fees
-Must issue private keys so I can store on Nano X
-Also plan to do some swing trades in addition to hodling
-No nonsense approval/verification process

And if you don't mind elaborating, again, in layman's terms for this newbie and any additional information and or steps, processes, 3rd party apps, etc.,  I'd need to do as well.

Thank you kindly! Be safe out there in the world!

[1715251901]

1715251901

[1715251901]

1715251901

[1715251901]

1715251901

[1715251901]

1715251901

[SquirrelJulietGarden]

I know 2 websites for you to filter.

https://www.cryptowisser.com/exchanges/?coins=&fee=2.0&continent=&us_allowed=on
https://blockspot.io/exchange/ (type United States of America in the second column)

I don't know exchanges in the list give you private key for your bitcoin wallet and NO KYC.

[joniboini]

I don't recall there is an exchange that will give you private keys regardless of whether you're a US citizen or not. If that's what you're looking for you probably need to find a P2P platform like Hodlhodl. It's probably not ideal either since most of the time they'll hold it on a multi-sig. There is a wallet with a built-in swap function though, but they're using third-party services like Changelly and they'll give you a terrible rate, not ideal for trading either.

My suggestion is to have a separate wallet for holding your coins, and withdraw asap after you finished your trade.

[Lucius]

-US Citizen

Coinbase is the largest crypto exchange in the world, located in the US. You also have an option in Binance, but you have to make sure that you are not on a list that includes about a dozen states whose residents cannot open an account there.

-Must issue private keys so I can store on Nano X

You can't import private keys in Nano X, the hardware wallet doesn't work that way. Buy coins, send them in transaction to Nano X.

-No nonsense approval/verification process

Forget that you don’t have to run KYC on a centralized crypto exchange, it’s a thing of the past. For such things you have to go in the direction of decentralized crypto exchanges, and since I've never used any, I can't recommend a specific name - but for information, there's a list here.

[figmentofmyass]

Only looking to hodl BTC & ETH and eventually do a bit of swing/day trades. Looking to fund with Fiat via ACH or wire transfer. I would love to hear and appreciate your knowledge and suggestions for the best exchange to use:

-US Citizen
-As "safe" as "safe" can be
-Low deposit/withdrawal/trading fees

in terms of fees, binance.us is your best bet. 0.1% trading fees at the starting tier, free ACH deposits/withdrawals. next is kraken (as low as 0.16% trading fees) but they only support bank wires---no ACH.

coinbase pro's fees start at 0.5%.

they all support 2fa (use TOTP like google authenticator, not sms!) and other standard security features.

-Must issue private keys so I can store on Nano X

no exchange will do that. it's not a secure way to transfer crypto.

-Also plan to do some swing trades in addition to hodling
-No nonsense approval/verification process

you might look into p2p trading. it's a great way to avoid KYC. https://localcryptos.com/

as for swing trading, you can use shapeshift to trade between BTC, ETH, and stablecoins without KYC: https://beta.shapeshift.com/dashboard

[NYChyna]

-US Citizen

Coinbase is the largest crypto exchange in the world, located in the US. You also have an option in Binance, but you have to make sure that you are not on a list that includes about a dozen states whose residents cannot open an account there.

-Must issue private keys so I can store on Nano X

You can't import private keys in Nano X, the hardware wallet doesn't work that way. Buy coins, send them in transaction to Nano X.

-No nonsense approval/verification process

Forget that you don’t have to run KYC on a centralized crypto exchange, it’s a thing of the past. For such things you have to go in the direction of decentralized crypto exchanges, and since I've never used any, I can't recommend a specific name - but for information, there's a list here.

Thanks so much for your help. Forgive my ignorance but I just want to be able to transfer any crypto I buy to my Nano X and vice versa back to the exchange to trade or take profits. I was under the impression that in order to do that, you needed to have your private keys issued to you first but I understand now, that’s not correct. With that, I just need an exchange where I’m able. And does that also mean that I have to use an additional 3rd party wallet to do that or do all exchanges allow you to transfer to a hardware wallet or only some do? Thank you kindly again

[Lucius]

And does that also mean that I have to use an additional 3rd party wallet to do that or do all exchanges allow you to transfer to a hardware wallet or only some do? Thank you kindly again

No centralized crypto exchange will give you access to the private keys of your public addresses, they simply do not work that way.  What is important is that you have a wallet in which you can completely control private keys, fees when making a transaction and that you can always send coins from the exchange to that wallet.

No need to have another wallet, it would just mean higher costs for you in terms of fees you would have to pay to do the following - Coinbase -> third party wallet -> Nano X.

As for the fees when you withdraw from, say, Coinbase, you can't influence them - but when you send in the opposite direction (from Nano X) you can always check the mempool and see what the current fees are depending on whether you need a quick confirmation (1-2 blocks) or the time of the first confirmation does not matter to you. 

For me best site to check that info is : https://jochen-hoenicke.de/queue/#0,24h

All you need to do is look at the third graph, point you the mouse at the end of the graph and see how much satoshi per byte you need to pay to get in the next block which size is always around 1 MB - so anything below 0.99 MB gives a great chance for quick transaction confirmation.

[Lordhermes]

You also have an option in Binance, but you have to make sure that you are not on a list that includes about a dozen states whose residents cannot open an account there.

I think Binance had closed down US accounts from accessing their exchange, I could remember some certain news around November last year giving them 14 days to withdraw out their funds.,

Crypto exchange Binance has begun blocking U.S. users from accessing its exchange platform, The Block has learned. The move comes more than a year after Binance first announced in July 2019 that it would stop serving U.S. residents from September of that year.

https://www.theblockcrypto.com/post/84020/binance-blocking-us-users-exchange-email-2

[Lucius]

Lordhermes, this refers to Binance global version service - but if you read further in the article you linked there is the following :

"If you are a U.S. citizen or resident, please transfer your assets out of your account within 90 days. You may consider using Binance U.S. or other U.S. platforms,"

As I mentioned before, some US states are still blocked from using even the Binance US exchange - so this should be taken into account when talking about the availability of this crypto exchange in the US.

Binance.US accounts are NOT available to users residing in the following states: Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, Vermont, Washington.

[NYChyna]

Thank you everyone for your help. Through my ignorance, I didn't understand that you're able to transfer from all exchanges: Binance.us/Coinbase/Coinbase Pro to a hardware wallet. That's all I want to be able to do. That being said, if I want to use any of the said exchanges, I don't have to use any 3rd party wallets in order to do so correct?

Also, I'm just waiting to be approved for my Fiat status on Binance.us

Thanks again!

[Lucius]

That being said, if I want to use any of the said exchanges, I don't have to use any 3rd party wallets in order to do so correct?

As I already wrote, I really don't see any point in using another crypto wallet that the transaction would go to before it ends up on the hardware wallet. This is completely unnecessary and would only create additional costs for you - the only difference between a desktop/mobile crypto wallet and a hardware wallet is that the latter is much safer. Since you have such a device, there is no reason not to use its full potential

[jerry0]

Only looking to hodl BTC & ETH and eventually do a bit of swing/day trades. Looking to fund with Fiat via ACH or wire transfer. I would love to hear and appreciate your knowledge and suggestions for the best exchange to use:

-US Citizen
-As "safe" as "safe" can be
-Low deposit/withdrawal/trading fees

in terms of fees, binance.us is your best bet. 0.1% trading fees at the starting tier, free ACH deposits/withdrawals. next is kraken (as low as 0.16% trading fees) but they only support bank wires---no ACH.

coinbase pro's fees start at 0.5%.

they all support 2fa (use TOTP like google authenticator, not sms!) and other standard security features.

-Must issue private keys so I can store on Nano X

no exchange will do that. it's not a secure way to transfer crypto.

-Also plan to do some swing trades in addition to hodling
-No nonsense approval/verification process

you might look into p2p trading. it's a great way to avoid KYC. https://localcryptos.com/

as for swing trading, you can use shapeshift to trade between BTC, ETH, and stablecoins without KYC: https://beta.shapeshift.com/dashboard

What is the benefit of using kraken then if they only do wires and no ACH?  Wires as you know are expensive whereas ACH is free.  I mean the top exchanges for us users are


Coinbase/coinbase pro

Gemini

Kraken

Binance US

Bittrex

Bitstamp



Would you say thats probably in the right order?