Choosing the best crypto exchanges in California for your trading needs might be difficult, given that over 200 firms operate in the crypto space. Safety, supported coins, and trading fees are just the beginning – you should also consider the quality of customer service and the minimum amount you may deposit into your account.
This article will give you the best crypto exchanges in California to assist you in making an informed choice.
Contents
Top 10 Best Crypto Exchanges in California Options
eToro
The best crypto exchange in California is eToro because it features 70+ different cryptocurrencies. Moreover, you may start trading and investing with as little as $10. Deposits are free for all accepted payment types, including PayPal, debit/credit cards, Neteller, ACH, domestic bank wires, etc.
Furthermore, its Crypto Portfolio is a great option for diversifying your investment portfolio. Their team regularly monitors and adjusts the portfolio’s weights and balances, including over a dozen digital assets.
In the middle of 2022, eToro included a DAO coin portfolio and recently added support for the DeFi coin. If investors want a more easy approach to entering the cryptocurrency markets, they can copy the trades of other eToro users. It is a low-risk technique to day trade cryptocurrency with a minimum investment of only $200 per trader.
These capabilities have helped eToro gain a solid reputation as a social trading platform for cryptocurrencies and as one of the finest crypto margin trading exchanges catering to novice and experienced traders.
| Number of Cryptocurrencies | 70+ |
| Trading Fees | Zero trading fees but a 0.75% spread |
| Minimum Deposit | $10 |
| Debit Card Fees | 0.50% |
Pros
- Excellent reputation
- Great customer support
- User-friendly interface
- Low fees
Cons
- Slow deposit times
Official Website: https://www.etoro.com
Binance US
Binance is the best peer-to-peer (P2P) cryptocurrency exchange and has some of the lowest trading fees of any major cryptocurrency exchange. It always ranks as the second-best crypto exchange in California. It is a cryptocurrency exchange and an NFT marketplace where you can make smart investments in the top NFTs on the market.
You may buy and sell Ether (ETH) for Bitcoin (BTC) at this well-known online exchange for as little as 0.10%. Due to this, the cost of a $100 bet would be $0.10. On this US-based exchange platform, you may trade and exchange over 60 of the best DeFi coins and cryptocurrencies.
No additional charges will be levied if you want to buy crypto with conventional currency. In other words, a 0.5% buy commission applies even when ACH and bank wire transfers incur no additional fees. A 4.5% surcharge will be added if you deposit using Visa or Mastercard.
Binance is a pricey choice for individuals looking to buy or sell cryptocurrency in US dollars. It is not subject to oversight by the SEC and lacks authorization from regulatory bodies, putting your money in danger.
| Number of Cryptocurrencies | 1000+(130+ in California) |
| Trading Fees | 0.1% |
| Minimum Deposit | None |
| Debit Card Fees | 3.5% |
Pros
- Trustworthy management
- Low fees
- High volume exchange
- Global support
Cons
- Few payment options
Official Website: https://www.binance.us
Coinbase
Coinbase is one of the top US crypto exchanges for novices, despite being costly in most places. It is the preferred investment platform because it is easy to set up and use.
If you have a debit or credit card, you can start an account and begin trading within minutes. As a result, you may quickly acquire XRP, Ethereum, and other cryptocurrencies.
The most significant drawback is the 3.99% fee for using a debit or credit card, notwithstanding how fast you can get started. You can also fund your cryptocurrency purchase using an ACH deposit. Once the funds have been reimbursed, you will have to pay a lower commission of 1.49%.
Although Coinbase is more affordable than other marketplace transactions, it still has high trading fees.
Coinbase is one of the most secure markets for buying and selling cryptocurrencies. Most client funds are kept in cold storage, new customer identities are verified, and two-factor authentication is set up for every account. A team of security experts also guards your account 24×7.
Coinbase is a solid choice for anyone thinking about staking cryptocurrency or taking out a loan to invest in yield farming.
| Number of Cryptocurrencies | 150+ |
| Trading Fees | 1.49% |
| Minimum Deposit | None |
| Debit Card Fees | 3.99% |
Pros
- Established reputation
- User-friendly interface
- High liquidity
- Large purchasing limits
Cons
- Slow bank transfers
Official Website: https://www.coinbase.com
Crypto.com
Crypto.com offers the most comprehensive protection against cryptocurrency theft and online assaults and is the most secure cryptocurrency exchange.
The exchange stands out from the competition because of its robust cybersecurity architecture, a standard characteristic among trustworthy cryptocurrency exchanges. The cybersecurity rating of the exchange places it at the top spot on the top 100 exchanges compiled by the Cybersecurity Ranking and Certification Platform.
Offline cold storage for all cryptocurrencies, a licensed custodial bank account for traditional cash, and regular software peer-review are some methods that Crypto.com uses to ensure the safety of its users’ holdings.
In addition, it utilizes multi-factor authentication, including a password, biometric verification, email verification, phone verification, and authenticator verification.
The platform has demonstrated its financial stability over time. It has passed multiple penetration tests (cyberattack simulations) to evaluate system security.
Crypto.com’s main selling point isn’t just its security. It has over 250 different coins available for trading, a non-custodial DeFi wallet that enables users to transmit cryptocurrency at the speed of their choosing and earn interest on coins, margin trading, and prepaid visa cards that you can use to spend crypto and get cryptocurrency loans.
| Number of Cryptocurrencies | 250+ |
| Trading Fees | 0.40% |
| Minimum Deposit | $5 |
| Debit Card Fees | 2.99% |
Pros
- User-friendly interface
- Great customer support
- Low fees
- A diverse selection of currencies
Cons
- New exchange
Official Website: https://crypto.com
BisQ
We found that BisQ best embodies the spirit of BitCoin by preserving an open-source platform that is entirely decentralized and does not place restrictions on the supported currencies.
BisQ’s UI is streamlined and straightforward, offering support to many coins. The project is funded privately and from contributions via the site’s user community.
Trading on the BisQ platform does not require users to provide personal information and does not necessitate using a third party to complete BitCoin transactions. It is a wonderful alternative for Bitcoin enthusiasts eager to trade with a wide variety of coins, including cryptocurrencies like Cardano, XRP, and Dogecoin. It is unusual for decentralized exchanges to offer numerous digital assets in addition to fiat cash.
Additionally, the platform’s security features, such as multi-signatures and a safety deposit system, help boost crypto exchanges’ underlying safety and confidentiality. These features ensure that both parties engage in honest behavior and maintain complete control over their funds throughout the trading process.
| Number of Cryptocurrencies | 120+ |
| Trading Fees | 1% |
| Minimum Deposit | 0.01BTC as a security deposit |
| Debit Card Fees | 1% |
Pros
- Supports various payment methods
- Permits trades with various coins
- Easy to use
- Low fees
Cons
- Inadequate mobile app
Official Website: https://bisq.network
BitDD
BitDD, a crypto exchange platform authorized in the United States, provides cutting-edge analytical tools to help users increase their investment returns and timing. It provides services for complex currency and derivatives transactions for Bitcoin, Ethereum, and Tether (USDT).
BitDD stands out in a market where 80% of trading platforms function without a certification because of its stringent compliance and security standards. The US Treasury Department has issued a license for BitDD. A large user base of over 500,000 can attest to the platform’s reliability. Easy-to-use onboarding tools and a well-designed user interface set BitDD apart from the competition.
Fast Trades, a unique feature offered by the platform, consists of a simple suite of state-of-the-art data analysis tools that even inexperienced traders may use to their advantage.
The signup procedure takes very little time and effort. If you’re interested in using BitDD, you’ll have 90 days with no transaction costs to see if it’s a good fit. Plus, BitDD’s VIP assistance is available around the clock if you encounter any problems.
BitDD is now offering a yearly interest rate of 14.5% on cryptocurrency deposits. A unique feature of this platform is that first-time depositors can enter a raffle for a chance to win up to 500 USDT. If you put in more money, you’ll get a bigger return. The website also offers a welcome rewards program of 8,888 USDT up for grabs.
| Number of Cryptocurrencies | 40+ |
| Trading Fees | 0%(For the first 90 days) |
| Minimum Deposit | None |
| Debit Card Fees | N/A |
Pros
- Easy onboarding
- Attractive reward programs
- Low fees
- Fast trades feature
Cons
- Slow customer support
Official Website: https://bitdd.com/index
CEX.io
Founded in London in 2014, CEX.io started as a cloud mining provider but quickly shifted its focus to being an exchange for digital currencies. CEX.io provides traders in the United States access to a wide variety of cryptocurrencies, including Bitcoin, Ethereum, and Ripple, as well as lower-cap assets like Matic, Ontology, and Cosmos.
CEX.io has two distinct trading platforms: one for novices and one for experts. Its brokerage service streamlines cryptocurrency purchases for occasional investors, while expert traders appreciate the platform’s advanced features and security.
CEX.io classifies its customers into several categories according to their verification status. The lowest verification level requires a government-issued ID. In contrast, address verification is required for the higher levels.
You can trade up to $1,000 worth of cryptocurrencies with a basic verified account daily. Users with authenticated addresses can spend up to $10,000 and withdraw up to $50,000 daily in cryptocurrencies.
CEX.io uses a maker/taker model for its trading fees, with taker fees at 0.16% and maker fees at 0.25%. There is a 2.99% charge for SEPA deposits and a 3% charge for withdrawals (plus a $25 service charge, depending on your withdrawal method).
| Number of Cryptocurrencies | 100+ |
| Trading Fees | 0.25% taker and 0.15% maker |
| Minimum Deposit | $20 |
| Debit Card Fees | None |
Pros
- Low fees
- Fast withdrawals
- Various payment methods
- Ideal for both beginners and pros
Cons
- Poor customer support
Official Website: https://cex.io
OKX
OKX is a leading decentralized cryptocurrency exchange used by over 20 million people from 200+ countries. Over 340 prominent crypto tokens can be traded on the exchange, including many new cryptocurrencies that buyers may have trouble obtaining elsewhere.
OKX also accepts payments made via major credit cards, debit cards, e-wallets, and wire transfers, with trading fees often 0.10% or less.
The OKX mobile app includes both a cryptocurrency exchange and a cryptocurrency wallet. Some of the most widely used tokens can be staked on this exchange, and there is also the option to save cryptocurrency in a cold wallet.
APY for cryptocurrency holders is as high as 12%. Investors can access additional funds at interest rates as low as 1% APR by borrowing against their cryptocurrency holdings.
Traders looking to acquire coins at the current market price can take advantage of the platform’s easy instant buy feature. OKX provides an advanced charting feature that includes order book data for all tokens for traders with higher expertise.
Traders can have full discretion over their transactions and risk management thanks to the availability of limit, stop, and conditional orders.
When searching for new crypto ventures, we found OKX to be indispensable. The exchange provides traders with a list of new cryptocurrencies to watch regularly, allowing them to get in on the ground floor of a potential market trend.
| Number of Cryptocurrencies | 340+ |
| Trading Fees | 0.26% |
| Minimum Deposit | None |
| Debit Card Fees | Not specified |
Pros
- Easy to use
- Good customer support
- Low fees
- Various payment methods
Cons
- Slow bank transfers
Official Website: https://www.okx.com
Gemini
Gemini is a cryptocurrency exchange located in New York City and one of the few in the United States that abides by all applicable New York state regulations.
Since its launch in 2014 by the Winklevoss twins, Gemini has been a highly regulated cryptocurrency exchange platform that works closely with regulators to ensure compliance. This close relationship can make the Gemini verification process more involved than it needs to be.
Gemini is a great option for institutional investors and professional traders because the FDIC protects all USD deposits. It is the most reliable due to its status as the custodian of over 1% of the world’s total BitCoin volume and its compliance with New York banking legislation.
Although there are no limits on trading, a daily limit of $500 has been set for using a credit or debit card to buy cryptocurrencies on Gemini. When a user has been verified, they are not subject to any limits on wire transfers or transactions using digital assets.
Regarding fiat support, Gemini allows for trading in US Dollars in addition to Hong Kong Dollars, Canadian Dollars, and Australian Dollars.
Moreover, Gemini allows deposits and withdrawals from US-based bank accounts, wire transfers, and payments made with credit and debit cards. Additionally, Gemini’s excellent selection of 26 USD trade pairings includes BTC, ETH, LTC, BCH, ZEC, LINK, OXT, and DAI.
| Number of Cryptocurrencies | 75 |
| Trading Fees | 0.40% |
| Minimum Deposit | Variable |
| Debit Card Fees | 1.49% |
Pros
- No withdrawal fees
- Very low trading fees
- Secure exchange
- Excellent customer support
Cons
- Fewer payment methods
Official Website: https://www.gemini.com/exchange
Kraken
Kraken, one of the first and longest-running cryptocurrency exchanges to serve the United States, takes a simple, user-friendly approach to trading cryptocurrencies. In contrast to Coinbase, Kraken caters largely to sophisticated cryptocurrency traders by providing services like margin trading.
Kraken is only accessible on the web, but a mobile app is now being tested in Germany, Spain, and the Netherlands. You can use it anywhere in the United States except in New York and Washington.
Trading pairs denominated in EUR and deposits from New Hampshire and Texas customers are the only choices not available to Kraken’s US customers.
Kraken prioritizes the safety of the exchange and its users above everything else, earning the approval of financial authorities worldwide. Two-factor authentication, Pretty Good Privacy (PGP) email encryption, a master account lock, and cold storage wallets are just some security measures that Kraken users can enable for their peace of mind.
The crypto exchange’s stellar security record rests on the foundation of irreversible transactions and programmatically enforceable contracts. Kraken also boasts top-tier security for encrypted data in addition to its substantial fiat reserves and verifiable proof-of-reserves audit.
Exchange users can buy and sell around 200 coins with minimal fees of 1.5% when using a stablecoin and 0.9% when using fiat currency. Other features include 4x leverage margin trading, a dark pool, and crypto derivatives.
| Number of Cryptocurrencies | 50+ |
| Trading Fees | 0.26% |
| Minimum Deposit | $1 |
| Debit Card Fees | None |
Pros
- Security-first approach
- Easy to use
- Never been hacked
- Low fees
Cons
- Lengthy verification time
Official Website: https://www.kraken.com
California Crypto Exchanges Comparison
| Crypto Exchange | Number of Cryptocurrencies | Trading Fees | Minimum Deposit | Debit Card Fees |
| eToro | 70+ | Zero trading fees but a 0.75% spread | $10 | 0.50% |
| Binance | 1000+ | 0.1% | None | 3.5% |
| Coinbase | 150+ | 1.49% | None | 3.99% |
| Crypto.com | 250+ | 0.40% | $5 | 2.99% |
| BisQ | 120+ | 0.01BTC as a security deposit | 1% | 1% |
| BitDD | 40+ | 0%(For the first 90 days) | None | N/A |
| CEX.io | 100+ | 0.25% taker and 0.15% maker | $20 | None |
| OKX | 340+ | 0.26% | None | Not specified |
| Gemini | 75+ | 0.40% | Variable | 1.49% |
| Kraken | 50+ | 0.26% | $1 | None |
FAQs
Yes, crypto exchanges are legit in California. Californian financial authorities regulate them.
Yes, cryptocurrency is taxed in California since it is treated similarly to other forms of property.
Cryptocurrency is treated as a property holding for tax purposes because it is not cash. Its tax regulations are similar to those for stocks and other financial assets, but it is still a piece of real estate. Therefore, “capital gains taxes” are owed on coin purchases.
Managing the taxation of capital gains can be complicated, but several methods are available for minimizing this expense. Additionally, the tax rate on capital gains is typically lower than income which is analogous to the treatment of stock gains and may result in more favorable tax treatment relative to company earnings or employment earnings.
Whether a cryptocurrency exchange is centralized or decentralized determines how secure it is. The best crypto trading platform will provide multiple layers of security for your account details. Hence, we concluded that Crypto.com is the safest centralized exchange in California.
The complexities and potential frustrations of crypto exchange fees are best illustrated by the rapid increase in the price of a deal when unanticipated charges are included in.
Our investigation led us to conclude that Binance is the most cost-effective platform for buying and selling cryptocurrency. Its maker and taker costs begin at an extreme low of .01%. And, its discount programs allow active traders to obtain even lower prices.
Wrap up
More than 20 cryptocurrency exchanges were analyzed, and we ranked them based on several criteria, including fees, safety, and ease of use. We also considered the number of trades, accepted payment methods, and available cryptocurrencies. In addition, we primarily investigated specialized cryptocurrency exchanges and trading systems that allow for trading other securities.
Moreover, when looking for the best crypto exchange in California, ensure your exchange is in line with the laws in your state. Do not underestimate the significance of picking the ideal cryptocurrency exchange for your needs, abilities, and select markets. After all, investing in cryptocurrency involves taking a risk with your money.
This was a complete guide to the best crypto exchange in California. Did you find this blog useful? If yes, then check out our other blogs!
Useful Guides: