Best commercial currency exchange for US residents?

[cecomania]

Hi, guys!

We are starting a business that will be handled by partners, who will have to send us money transfers on a daily basis. We decided to use BTC, rather than wire transfers, as the transfers will be cheaper, instant and not have a refund option, which will protect us from fraud attempts. Which company we should recommend them to use for buying BTC?

For now, we have decided to recommend Binance US, and if they do not get approved (there are some state restrictions), we'll recommend them Coinbase. The partners will be from the US, they will have a credit/debit card and the transfers that they will need to send us will be 2-3,000 USD per day. The things that worries me are the low limits, account suspensions and transfer delays reviews that I read on those two companies' TrustPilot pages.

Thanks!

[JeromeTash]

US regulations are very strict when it comes to financial activities or exchanges, so in order for one to be able to move higher amounts of money, they will have to verify their accounts in the respective exchanges. There isn't any shortcut.

The list of exchanges is pretty thin, and coinbase is one of the most trusted and oldest. Maybe what you can do is suggest to them a number of exchanges, and then they choose which one is more suitable for them to use.

I am not from the US but here are more exchanges that work with the US residents
1. Kraken
2. Gemini
3. FTX.us
4. Cex.io

Of course there are so many factors to look into such as fees, transaction limits and legal policies to avoid getting into trouble.

[hugeblack]

Why not use open source software such as BTCPay Server^[1], since you are thinking of accepting bitcoin and do not want to transfer it to your bank account, you do not need a lot of programming experience and you can also integrate tools in order to make a tax report.
Generally, centralized platforms like coinbase enable you to make transfers without fear of being restricted as you may need to fully comply with the terms of service and provide all necessary data while reading the user guide.

[1] https://btcpayserver.org/