Since Trump took office, the financial regulations around cryptocurrency exchange in New York have softened a bit. New Yorkers now have flexibility when choosing an exchange to invest or trade cryptocurrencies. Even with all the good news, finding the best crypto exchange in New York is challenging.
The state has strict regulations, with exchanges mandated to obtain a BitLicense if they wish to operate within the region. However, we’ve done the research, considered users’ experiences, and determined the top 10 crypto exchanges and apps for New York residents to buy Bitcoin and other assets.
Throughout this article, we’ll look at what crypto exchanges are available in New York, explain how to choose the right platform, detail the registration process, and share some helpful information regarding crypto taxes in NY. Let’s get started.
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Since its debut in 2017, Binance has established itself as the premier global cryptocurrency exchange. Handling billions of transactions daily, it has built a massive user base and offers an unparalleled selection of features. Although Binance operates globally, its US services are restricted to a separate subsidiary.
The platform supports trading for more than 350 cryptocurrencies and thousands of pairs. Binance’s features include spot trading, staking, futures trading with up to x125 leverage, and margin trading. Users can also access P2P transactions, automated bot trading, and copy trading.
Fiat deposits are available in over 100 currencies via multiple payment methods. Binance uses a tiered fee system, reducing costs for high-volume traders and offering extra savings for payments made in BNB tokens.
Pros
Largest trading volume globally with 350+ cryptocurrencies
Extremely competitive fee structure (0.1% standard, can be reduced with BNB)
Comprehensive ecosystem including launchpad, staking, and lending
Advanced trading features and analytics
High liquidity across trading pairs
Cons
The interface can be overwhelming for beginners.
Regulatory challenges in various jurisdictions
Suffered a major hack in 2022, though the SAFU fund covered user funds
Customer service response times can be lengthy
Phemex is a Singapore-based cryptocurrency exchange that launched in 2019. Known for its comprehensive offerings, it serves traders globally but excludes the US due to regulatory restrictions.
The platform supports 250+ cryptocurrencies and provides services like spot trading, futures with leverage up to x100, and staking. Fiat deposits are available through various methods, including credit cards.
Good variety of cryptocurrencies
Competitive trading fees
Registered as an MSB in the USA
Regularly discloses its proof-of-reserves
Many ways to trade (spot, futures, copy, P2P, etc)
Prohibited in some countries, including the UK and USA
Operates in a regulatory grey area
ECXX is a simple crypto exchange established in 2019. It provides users with access to 30 cryptocurrencies denominated in USDT. The responsive platform offers TradingView integration, which is ideal for performing detailed analyses. However, while testing the platform, I was unable to confirm my email, limiting my access to ECXX’s features.
ECXX users can deposit and withdraw crypto, but fiat currencies are unsupported. While it offers an Initial Exchange Offering (IEO) launchpad and staking system, both were unpopulated during our research. Trading fees on EXCC are reasonable, at 0.2% for all orders. Withdrawal costs vary by asset.
An order book interface so traders can see where liquidity is
TradingView integration for performing analysis
A simple interface makes navigation easy
Relatively competitive trading fees
Low-cost withdrawals
The registration process is not working correctly
No support for fiat currency purchases, deposits, or withdrawals
Limited variety of cryptocurrencies
XT Exchange, founded in 2018, is a global cryptocurrency trading platform with a presence in multiple regions, including Asia, Europe, and the Middle East. It offers a comprehensive suite of services such as spot, margin, and futures trading, as well as OTC and P2P trading. The platform supports over 500 cryptocurrencies and provides leverage up to 125x on selected assets. XT Exchange is known for its high-performance trading engine, robust security measures, and social trading features.
Users generally appreciate the platform's competitive fees, fast account verification, and the reliability of its trading apps. However, there are recurring complaints about customer support responsiveness and occasional withdrawal delays. Educational resources are limited, which may make it less suitable for beginners seeking guidance. The platform does not offer managed investment programs, focusing instead on direct trading and mining options.
Wide selection of cryptocurrencies and trading pairs
Supports spot, margin, futures, OTC, and P2P trading
High leverage available (up to 125x)
Competitive trading fees and fast account setup
Robust security protocols, including cold storage and layered architecture
Some users report slow or unhelpful customer support
Occasional withdrawal delays
Limited educational resources for beginners
No managed investment programs
Launched in 2012, Bitfinex is one of the oldest cryptocurrency exchanges. It is widely recognized for its robust trading features and consistent performance but is unavailable to US users.
The exchange supports more than 270 cryptocurrencies and includes services like spot trading, derivatives trading with leverage up to x100, staking, and borrowing. Fiat deposits can be made in USD, EUR, GBP, and JPY. The platform’s tiered fee structure incentivizes traders with higher volumes.
Pros
Advanced trading features, including margin trading up to 10x
High liquidity for major trading pairs
Over 170 cryptocurrencies available
Low fees for high-volume traders
P2P financing marketplace
Advanced order types for sophisticated strategies
Cons
Complex interface not suitable for beginners
History of security and regulatory issues
Not available to US customers
High minimum deposit requirements
Controversial due to Tether relationship
Launched in 2018, YouHolder is a crypto exchange and loans platform available worldwide, except in a few countries, such as the USA and Canada. The exchange lets people trade 110 cryptocurrencies after depositing via crypto or fiat (credit/debit card, wire, bank transfer, SEPA). It also supports many fiat currencies, including EUR, USD, GBP, and CHF.
While the exchange already offers up to 70x leverage, YouHolder’s Turbocharge tool lets people buy crypto with funds borrowed using their holdings as collateral. It also provides a crypto-loans feature, enabling users to borrow funds using their crypto without triggering a taxable event. MultiHODL trades charge an hourly rollover fee of 0.02%. No fee is listed for conversions.
Provides access to a reasonable amount of leverage
Users can borrow based on their crypto holdings
MultiHODL lets people boost profits and losses through a series of crypto loans
Available in many countries with local currency support
A good variety of large and small cryptocurrencies
Confusing fee structure, no listed costs for regular trades
Unavailable in the USA and Canada
eToro, headquartered in Israel, began as a social trading platform and expanded into the cryptocurrency market in 2013. Today, it operates in more than 100 countries, offering a streamlined and regulated experience for both novice and experienced traders.
The platform allows users to trade over 100 cryptocurrencies and supports 50 trading pairs. Key features include staking for select coins and CFD trading with leverage.
Fiat deposits can be made using PayPal, Skrill, and bank cards. All crypto transactions are subject to a flat 1% fee.
Pioneer in social trading with CopyTrader functionality
User-friendly interface ideal for beginners
Combines traditional assets (stocks, ETFs) with crypto
Strong educational resources
Regulated in multiple jurisdictions
Portfolio diversification tools
Higher fees than crypto-specific exchanges
Limited cryptocurrency selection
No external wallet transfers for some regions
Spread-based fee model can be costly during volatility
Focus on retail traders rather than serious crypto enthusiasts
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Bitpanda is a European-based crypto exchange renowned for its seamless user experience and wide range of payment options. The platform is tailored for both beginners and intermediate users, offering a straightforward way to buy, sell, and manage cryptocurrencies alongside precious metals and stocks.
One of Bitpanda’s biggest strengths is its support for multiple fiat currencies and payment methods, including bank transfers, credit cards, and even online wallets. This flexibility makes it easy for users to fund their accounts and withdraw earnings. Bitpanda also features a clean, easy-to-navigate interface that appeals to those just starting their crypto journey.
Security is a priority for Bitpanda, with features like two-factor authentication and mandatory verification for withdrawals. While the platform is not regulated by a major financial authority, it has built a reputation for reliability and transparency. Bitpanda’s customer support is responsive, and the platform offers educational resources for users.
Supports multiple fiat currencies and payment methods
User-friendly interface
Strong security protocols
Responsive customer support
Limited range of cryptocurrencies
Higher fees compared to some exchanges
Lacks advanced trading features
Not regulated by a major authority
Zengo stands out as one of the best crypto wallets in 2025 by offering a unique keyless security model. Instead of relying on traditional seed phrases, Zengo uses Multi-Party Computation (MPC) combined with three-factor authentication, making it easier and safer to recover accounts without the risk of losing access.
This mobile-first wallet supports over 320 cryptocurrencies on multiple blockchains, catering to users who want a seamless experience without sacrificing security. Zengo also offers built-in features like crypto buying, selling, swapping, and staking, all accessible through a sleek and intuitive app interface.
Zengo provides fiat on-ramp and off-ramp services, making it convenient for users to convert between crypto and traditional money. While it doesn’t support desktop or browser extensions, its mobile security features, including biometric authentication and a Web3 firewall, position it as an excellent choice for everyday crypto management.
Keyless security with MPC and 3FA for safer recovery
Supports a wide range of cryptocurrencies
Integrated fiat on/off ramps and swapping
Easy-to-use mobile app with biometric security
Access to staking and dApps
Exchange fees can be relatively high
Limited staking options compared to competitors
No desktop or browser extension support
Not fully open source
Founded in 2014, EXMO is a crypto trading platform that serves over one million users globally. It offers a reasonable selection of 95 cryptocurrencies split into 200+ trading pairs, providing ample opportunities. As EXMO operates around the world, it supports a range of fiat currencies, including USD or PLN, and local payment methods like AdvCash.
The platform offers a spot exchange for trading and investing, as well as an instant buy system for purchasing crypto via USD using Mastercard or Visa. Users can invest in crypto bundles (a selection of related cryptocurrencies) or boost their portfolio with EXMO’s staking/yield farming products.
Fees vary by trading pair. Crypto/crypto purchases cost 0.1%, crypto/USDT costs 0.2%, and crypto/fiat pairs start at 0.3%. Fees can be reduced with trading volume or via the EXMO Premium monthly service. The instant buy system charges a flat 0.1% commission.
Reasonable spot trading fees
Good selection of cryptocurrencies and trading pairs
Support for a variety of local currencies
Crypto bundles make diversification simple
EXMO Premium can pay for itself for high-volume traders
Its confusing fee structure could cause trouble for beginners
Restricted in certain countries like the United Kingdom
Webopedia is a leading crypto information hub. Our reviews consider user experience, ease of use, range of features, and security.
Exchange | Trading Fees | Security Features | Supported Coins | License | Deposit & Withdrawal Methods |
---|---|---|---|---|---|
Uphold | 0.2% fee on stablecoins, 1.4% to 1.6% on Bitcoin or Ethereum, and 2.5% to 2.95% on altcoins | 2FA, Transparency page showing Upholds financials, SOC Type 2 Certification, ISO 27001 Certified, Regular independent audits, Bug bounty program, encryption for data & some communications, Uphold security team with 24/7 365 uptime, employee background checks | 250+ | Regulated by FinCen as an MSB (USA), FCA as an Electronic Money Issuer regulated (UK), and registered with FINTRAC (Canada) and Financial Crime Investigation Service (FCIS) under the Ministry of the Interior of the Republic of Lithuania (Europe) | Apple / Google Pay, Credit/Debit Card, Bank Transfer |
eToro | 1% When Opening or closing a position + 2% transfer fee for moving crypto off eToro | 2FA, secure storage of user funds, encryption for personal data, ISO 27001 certificate | 133 | Licensed by FCA (UK), CySEC, DND, Bank of Spain, OAM, BaFin (Europe), MFSA (Malta), ASIC (Australia), FSAS (Seychelles), FinCEN (USA) | Debit/Credit Card, Bank Transfer, eToro Money, iDEAL |
Kraken | Spot: 0.25% (maker) 0.40% (taker), Stablecoins: 0.2%, Futures: 0.02% 0.05% | 24/7 in-person surveillance of crypto infrastructure by armed guards, 2FA (not SMS allowed), PGP signed email, sensitive data encryption, real-time threat monitoring, bug bounty program | 425 | MSB, FinCEN (USA), FCA (UK), MSB by FINTRAC (Canada), CySEC (Cyprus), ASUTRAC (Australia), VASP (Belgium), AMF (France), BaFin (Germany), OAM (Italy), | Crypto, ACH, Wire (USD) CUBIX, SWIFT (Wordwide) , SEPA, PayPal (EUR), iDEAL (Netherlands), in-Person, Wire, Interact e-Transfer (CAD), Bank Transfer, PayPal RTGS (AUD), FPS, PayPal (GBP), SIC (CHF), SWIFT (JPY), PIX (BRL) |
MEXC | Spot: 0% (maker) 0.05% (taker), Futures: 0% 0.02% | 2FA withdrawal address whitelisting, cold storage for user funds, proof-of-reserves, and login history records | 2963 (many new or small altcoins) | Claims to be regulated "directly or through subsidiaries by some of the most renowned jurisdictions," but doesn't provide examples. Not FCA regulated | Crypto, Bank Transfer (SEPA, PIX), Credit/Debit Card, Third Party, Local Payment Methods via P2P exchange |
Gemini | 0.20% (maker) and 0.40% (taker) // instant or recurring orders: 1.49%, + a 1% convenience fee | 2FA, Cold Storage, address allowlisting, multi-signature wallets, ISO 27001, and SOC 2 Type 2 certified | 81 | Bitlicense (New York), Licenses in every US State, in-principal approval from the Malta Financial Services Authority | Crypto, ACH, Wire, Debit Card, Google/Apple Pay, Bank Transfer (EUR & GBP), FAST (SGD), PayPal, CUBIX, xPULSE, Plaid Direct (UK & Europe) |
Coinbase | Advanced Trade: 0.60% (maker) and 1.20% (taker). Variable spread on the basic Coinbase platform | 98% cold storage, 2FA, 1:1 customer asset reserve, public company | 298 | Licensed in 47 states, FCA (UK), BaFin (Germany), Central Bank of Ireland | Crypto, Easy bank transfer, credit/debit card, PayPal, wire, SEPA, or ACH. |
OKX | Spot: 0.08% (maker) 0.1% (taker), Stablecoins: 0.05% 0.07%, Futures: 0.02% 0.05% | MFA, 95% cold storage, anti-phishing code, passkey system, personal data encryption, real-time monitoring | 348 + thousands more on OKX DEX | MiCA-licensed (Europe), Registered MSB with FinCEN (USA) | Crypto, Wire, ACH, (USD) SEPA, iDEAL, Bancontact,(EUR) Pix (BRL), PayNow (SGD), Bank Transfer, Local Payment Methods via P2P |
WEEX | 0.10% | 2FA, Cold Storage, Encryption, anti-phishing code, 1000 BTC insurance fund | 971 | Registered MSB in the USA and Canada | Crypto |
Nemo.Money | Zero Commission (Variable Spread) | Client / Company Fund Segregation, Regulated, SIPC deposit insurance, funds stored in regulated banks | 7 | Regulated by the Financial Services Regulatory Authority of Abu Dhabi Global | Debit card and bank transfer |
ECXX | 0.20% | 2FA, Multi-Sig Wallets, encryption for Data, cold storage | 30 | No | Crypto |
Knowing how to tell a good exchange from a bad one is crucial. It can lead to cost savings and a better experience overall.
Some key aspects we always look out for when selecting NY crypto exchanges include:
Below, we'll examine each of these factors in detail, explaining their importance and what to look out for.
New York has some of the strictest rules surrounding crypto trading out of any state. As such, compliance can be challenging for exchanges to maintain, yet it remains crucial for traders. Unregulated platforms can unexpectedly withdraw their services or block accounts based in New York, leading to issues like lost funds.
As the New York State Department of Financial Services (NYDFS) has mandated that exchanges must obtain a BitLicense to operate in New York, users should prioritize platforms that comply with this ruling. Peer-to-Peer (P2P) trading falls into a grey area, but person-to-person trades are allowed, which gives platforms like Bisq room to operate.
The top New York crypto exchanges need to employ a high standard of security.
A few things to look out for when choosing a platform include:
Some exchanges don't disclose their exact security measures, but this checklist will help you assess whether a platform is serious about user safety. Users must trust these platforms with sensitive information, like bank details and home addresses. Exchanges also act as custodians for funds, making them a common target for bad actors looking to conduct illicit activities.
When selecting the best cryptocurrency exchange in New York, it is crucial to check the fees a platform charges, including the amount and type. Global exchanges boast transaction fees as low as around 0.1%, but in our experience, New York's strict exchange regulations limit your options. As such, a commission below approximately 0.5% is reasonable, although the lower the better.
Crypto exchanges generate a significant portion of their revenue through fees applied to trading. The types of fees can vary. For example, a spread fee is the difference between buy and sell prices, while transaction fees are a fixed cost levied when a trader submits a buy or sell order. Some platforms will also charge fees for deposits or withdrawals.
Liquidity refers to the ease of converting a cryptocurrency or other asset into cash. High liquidity means that the platform holds a large quantity of an asset and can process significant buy or sell orders without them impacting price. On the other hand, low liquidity means there isn't as much of an asset to go around, so substantial buy or sell orders can cause price fluctuations.
Larger, more popular exchanges usually offer superior liquidity. This is especially true on order-book-based exchanges like Bistamp, which pair buyers and sellers based on sale/purchase price.
Average order execution speeds vary and aren't always displayed, but a speed of around 50 milliseconds or less is considered good. Regarding the trading interface, most exchanges integrate TradingView, an industry-standard software that offers a comprehensive range of charting and analysis tools. It's also worth considering whether a platform can integrate with external software, such as MetaTrader.
A trading engine and an interface are at the foundation of any exchange. To be competitive, both must be efficient, robust, and modern. This is because the speed at which an order is placed can impact profits/losses, and the charting tools available to a trader can affect the validity of their analysis.
Look out for platforms that offer automated support for simple requests and respond quickly when tailored help is needed. Replies that take less than 24 hours are good, but the best crypto exchanges in New York typically respond in under two hours.
Customer support is a crucial factor to consider, as it will impact how quickly you get help and the quality of assistance, should anything go wrong. After determining which crypto exchanges are legal in NY with a Bitlicense, it's essential to carefully review each platform before choosing between them.
This is how each exchange performed during my testing:
Exchange Name | Support Type | Support Response Time |
LBANK | AI Bot, Live Chat, Help Center | Connected Instantly |
Uphold | Help Center, Email Support Ticket | 12+ Hours |
Bitfinex | Help Center, Email Support Ticket | 12+ Hours |
MEXC | Live Chat, Help Center | 30 Seconds |
Probit Global | Email Tickets, FAQ Center | 12+ Hours |
Poloniex | Help Center, Email Ticket, Live Chat | 30 Seconds |
OKX | AI Bot, Live Chat, Help Center | 10 Minutes |
Weex | Help Center, AI Bot, Live Chat | 5 Minutes |
Nemo.Money | FAQ Center, Email Ticket | 12+ Hours |
ECXX | Email Support | 12+ Hours |
Generally, the more cryptocurrencies an exchange supports, the better. Checking whether a platform supports your desired assets is crucial. Some exchanges lack popular coins like XRP or Hedera Hashgraph. Each exchange is different, but platforms offering 100+ assets are worth keeping an eye out for, especially if you're an altcoin investor.
Having access to a wide selection of assets is crucial for individuals seeking to trade or build a diversified portfolio of cryptocurrencies. It means you'll be more likely to find worthwhile opportunities and won't have to spread your purchases across multiple exchanges, which can be time-consuming, inconvenient, and confusing.
While the best crypto exchange in New York can vary based on your preferences, contenders often offer some form of insurance to protect users. Look out for deposit and balance insurance provided by the Federal Deposit Insurance Corporation (FDIC), which offers protection of up to $250,000 per user.
It's worth noting that balances and deposits are only insured against the failure of an insured bank or custodian. These types of polices rarely cover losses arising from user error, theft, or fraud, so employing proper security measures remains crucial, even if an exchange provides insurance.
Typically, the best cryptocurrency exchanges in New York will have a solid track record spanning 4+ years without any significant issues. Platforms that have been hacked or on which users regularly report issues should be approached with caution. While susceptibility to general attacks can indicate poor security, hacks directly impacting user funds are the most severe.
When deciding which exchange or app is best for your needs, always research the platform's reputation and history. Check how long the exchange has been operating, if users report consistent issues, whether it's been involved in any controversy, and if it's ever been hacked.
Exchange Name | Hacked? |
LBANK | No |
Uphold | Yes, (Customer.io breach exposed Uphold some users’ names and email addresses) |
Bitfinex | Yes, 119,756 BTC was stolen from users in 2016 |
MEXC | No |
Probit Global | No |
Poloniex | Yes, hacked for $50,000 in 2014 and $125 million in 2023 |
OKX | Yes, OKX DEX was hacked for $2.7 million in 2023 |
Weex | No |
Nemo.Money | No |
ECXX | No |
Wondering how to register with the best crypto exchange in New York? Below, we explain the entire process in a simple step-by-step format.
First, users must create an account. The initial registration process is simple. Enter your email, choose a strong password, and select a username.
Next, your account must be verified by opening the confirmation message sent to your registration email.
Then, you'll need to complete the Know-Your-Customer (KYC) process using some KYC documents to activate your account. You'll have to provide some information regarding your financials and submit an image of your photo ID (driving license, passport, national ID). The verification process typically takes between 10 minutes and one business day.
It's advisable to enhance your security by activating protections like 2-factor authentication and biometric (face or fingerprint) unlocking if available. It's also a good idea to set up an anti-phishing code for secure communications.
Lastly, deposit crypto or fiat currency into your account, and you're ready to trade. When choosing a deposit method, consider fees and processing times. If you're not sure how to deposit, here's a guide on how to send Bitcoin to another wallet. It covers common questions, like how long a transaction takes, and explains the risks of sending crypto.
If you want the process of buying crypto explained in greater detail, check out our guide on how to buy crypto. It features Gemini, one of our top-rated NY exchanges, and goes in-depth on depositing funds, buying crypto, keeping your assets safe, and alternative ways to buy.
If you’re a New York resident trading or investing in crypto, you need to know about taxes.
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Here are a few helpful tips that assist you in the exchange selection process: Before selecting the best crypto exchange in New York, you should make a comprehensive list of your requirements. Order them by priority. This will help you choose an exchange that best matches your individual needs.
Due to New York's strict crypto regulations, certain platforms will be limited in the services they can offer. For example, Swan Bitcoin cannot currently provide BTC withdrawals, and Cash App users cannot send Bitcoin between accounts. Check any restrictions before registering.
Although Binance created its Binance.US arm to serve customers in the United States, it is unavailable in 16 states, including New York and Washington. Binance has not obtained the required BitLicense from the New York State Department of Financial Services (NYSDFS), so the exchange is unable to onboard users residing in the state.
Unfortunately, margin trading is unavailable in New York due to the state’s strict cryptocurrency exchange regulations. Some decentralized exchanges may offer margin trading services, but they’re unregulated and not legally allowed to operate in NY.